This press release came from California’s Insurance Commissioner. Unfortunately, what he had to say about California is true across our country. The press release contains information of value to all since the Foundation for Health Coverage Education is nationwide.
"With 1 in 10 Californians grappling with unemployment and Sacramento’s unemployment rate at 10.4 percent, Insurance Commissioner Steve Poizner today highlighted the Foundation for Health Coverage Education (FHCE) Coverageforall.org Web site, a resource for those who may have lost their health insurance due to the tough economic times.
"The event held at the State Capitol is the second in a series of events Commissioner Poizner is holding to inform the public of their health care options during the recession.
“In the first month of the year, nearly 80,000 Californians lost their jobs and with that, their health insurance,” said Commissioner Poizner. “The census bureau estimates that nearly 1 out of 5 Californians lacked health insurance at one time or another during the last 12 months. There are resources out there, both public and private, that can help people who don’t have health insurance and want to know what their options are. One of those resources is Foundation for Health Coverage Education’s coverageforall.org, where people can go to find out what’s available for them given their particular situation.”
"FHCE operates a U.S. Uninsured Help Line at 800-234-1317 as a resource in addition to the Web site. The Web site and hotline are designed to provide access to hundreds of state and federal programs. The nonprofit organization currently provides access to 175 public healthcare program applications online, allowing Americans seeking government-sponsored health coverage to apply for the programs that best meet their needs.
“A lot of people don’t know these programs exist. What we are doing is making it easier for people in need to access all of their local and statewide options,” said Phil Lebherz, founder of the nonprofit organization.
"FHCE is a non-profit 501 (c) 3 organization with a mission to help simplify public and private health insurance eligibility information. In addition to its U.S. Uninsured Help Line (800) 234-1317 and website www.coverageforall.org, FHCE offers free consumer guides such as the Health Care Options Matrix available for all 50 states."
Wednesday, March 11, 2009
Thursday, February 26, 2009
Health Insurance Shopping Keys
Shopping for health insurance is right up there with doing your income tax.
Gotta be done.
Don’t want to do it.
Afraid of the cost.
Perhaps this list will help take some of the pain out of the process.
When you are shopping for new health insurance, you can separate the good ones from the bad ones with these key items:
Customer Service and Company Strength – How do you find out anyway?? Turns out, it’s pretty easy! There is a national organization that keeps track of this information for you, it’s the National Association of Insurance Commissioners – and yes, they have a web site: http://www.naic.org/consumer_home.htm
On the left side of the NAIC web page, you’ll see: “Consumer Information Source (CIS): File and/or search complaints for individual insurance companies” Click on it. A Complaint Ratio of 1.0 is average. Less than 1.0 is better. More than 1.0 is definitely not better.
Enter your favorite insurance company name, choose your state. Statement Type is “All,” Business Type is “Life/Accident/Health,” and then click: Find Company. Then click on “Closed Complaints,” and “Closed Complaint Ratio Report,” finally, choose “Individual Accident and Health.” Voila! There’s the info. Not just the Complaint Ratio but also their financial position. You're asking yourself: Why didn't I know about this?
The “Network” – All good health insurance companies have provider networks. These are called PPO Networks or Preferred Provider Networks. So, first of all, how big is the network? Did you know that it will cost you a lot more to use a provider that is out of network? Is your doctor in the network? This item alone could be a deal breaker for you. Are the hospitals near you, or are hospitals you care about, in the network? All of this information is available to you BEFORE you make a decision. On the insurance company's web site they will highlight their network and give you the ability to search for providers. Do this! It's important.
Type of Policy - Here’s where it starts getting complicated. There are PPOs and HMOs and Indemnity policies… what works best for you is a very personal decision. However, the policies with more coverage cost more. You knew that. Here’s what people don’t seem to want to do, though: They don’t sit down and think about how they use the healthcare system. Do you go to the doctor frequently? Did you know that having a $30 copay for doctor visits could increase the cost of your insurance by $100 or more a month? If you go to the doctor twice a year do you want to add $1,200 to your annual cost for a $30 copay? Are your children young requiring frequent medical attention? Are you older when “things start to break?”
On the AIG web site, you’ll see “Consumers, Insure U.” Click on it. They have done an excellent job of highlighting what to consider based on your age and personal situation. Spend a few minutes here and save big bucks in the long run.
Competitive Pricing – don’t make the mistake of making this number one on your search criteria. Notice that I put it last. And yes, an experienced broker can help you sort through this after you’ve done a little work to learn what to ask. Remember there is a difference between an “agent” and a “broker.” A broker represents many insurance companies. An agent only one.
All insurance companies use the same set of statistics to figure out how to price their product. So, if a policy from one company is dramatically less than a “similar policy” from another company, there’s probably a reason and it's not because the insurance company is trying to be nice.
Can I help? Sure, give me a call or best of luck to you!
Gotta be done.
Don’t want to do it.
Afraid of the cost.
Perhaps this list will help take some of the pain out of the process.
When you are shopping for new health insurance, you can separate the good ones from the bad ones with these key items:
- Customer Service and Company Strength
- The Network
- The Type of Policy
- Price
Customer Service and Company Strength – How do you find out anyway?? Turns out, it’s pretty easy! There is a national organization that keeps track of this information for you, it’s the National Association of Insurance Commissioners – and yes, they have a web site: http://www.naic.org/consumer_home.htm
On the left side of the NAIC web page, you’ll see: “Consumer Information Source (CIS): File and/or search complaints for individual insurance companies” Click on it. A Complaint Ratio of 1.0 is average. Less than 1.0 is better. More than 1.0 is definitely not better.
Enter your favorite insurance company name, choose your state. Statement Type is “All,” Business Type is “Life/Accident/Health,” and then click: Find Company. Then click on “Closed Complaints,” and “Closed Complaint Ratio Report,” finally, choose “Individual Accident and Health.” Voila! There’s the info. Not just the Complaint Ratio but also their financial position. You're asking yourself: Why didn't I know about this?
The “Network” – All good health insurance companies have provider networks. These are called PPO Networks or Preferred Provider Networks. So, first of all, how big is the network? Did you know that it will cost you a lot more to use a provider that is out of network? Is your doctor in the network? This item alone could be a deal breaker for you. Are the hospitals near you, or are hospitals you care about, in the network? All of this information is available to you BEFORE you make a decision. On the insurance company's web site they will highlight their network and give you the ability to search for providers. Do this! It's important.
Type of Policy - Here’s where it starts getting complicated. There are PPOs and HMOs and Indemnity policies… what works best for you is a very personal decision. However, the policies with more coverage cost more. You knew that. Here’s what people don’t seem to want to do, though: They don’t sit down and think about how they use the healthcare system. Do you go to the doctor frequently? Did you know that having a $30 copay for doctor visits could increase the cost of your insurance by $100 or more a month? If you go to the doctor twice a year do you want to add $1,200 to your annual cost for a $30 copay? Are your children young requiring frequent medical attention? Are you older when “things start to break?”
On the AIG web site, you’ll see “Consumers, Insure U.” Click on it. They have done an excellent job of highlighting what to consider based on your age and personal situation. Spend a few minutes here and save big bucks in the long run.
Competitive Pricing – don’t make the mistake of making this number one on your search criteria. Notice that I put it last. And yes, an experienced broker can help you sort through this after you’ve done a little work to learn what to ask. Remember there is a difference between an “agent” and a “broker.” A broker represents many insurance companies. An agent only one.
All insurance companies use the same set of statistics to figure out how to price their product. So, if a policy from one company is dramatically less than a “similar policy” from another company, there’s probably a reason and it's not because the insurance company is trying to be nice.
Can I help? Sure, give me a call or best of luck to you!
Tuesday, January 27, 2009
When COBRA strikes: How to maintain affordable health insurance
For those joining the ranks of the unemployed, the prospects for health care coverage can be frightening.
Enacted in 1986, COBRA's high cost is a contributing reason why 47 million Americans are uninsured — a figure in a report from Families USA.
"There are some misconceptions about COBRA," said Ellen Laden, spokesperson for United Healthcare Golden Rule Insurance, one of the two largest health insurers in the country that offers medical plans for unemployed. "If you never had to use it, you don't know. In today's economy, more and more people are finding themselves losing jobs or losing benefits or are covered by health insurance, but their families no longer are."
To be eligible for COBRA coverage, an employee must have been working for a company of 20 or more. Employees laid off from smaller businesses are not eligible. Also ineligible are those who have worked for companies that have dropped medical coverage or have closed suddenly.
"One of the problems with COBRA is it tends to be expensive," said Laden from her office in Indianapolis. "It costs up to 102 percent of the cost of health insurance (for family coverage)."
COBRA premiums vary from state to state, and Laden said cost can be computed at three or four times what a worker had been paying each month for the medical coverage at that job. That means if you had been paying $100/month, depending upon your employers benefit program, your COBRA could be as much as $300 or $400/month.
Employers often pay 75 percent of health insurance costs, and large employers pay even more. Many who leave a company and its coverage are not ready for the sticker shock once they have to pay for their own coverage.
So, consumers should shop around with a broker (you can call me for help at 888-943-3336), before resorting to the popular course of action with COBRA.
But there is one time when COBRA becomes the preferred alternative, said Laden: people who lose employer coverage and have serious pre-existing conditions or chronic illnesses.
"That prevents them from getting coverage in the ordinary market. It is important for those people to continue coverage under COBRA for as long as they can," said Laden.
Once COBRA coverage is exhausted, insurees become eligible for HIPAA — Health Insurance Portability and Accountability Act. Enacted in 1996, it guarantees coverage for that 10 percent of the population who cannot get affordable alternatives in the individual market after COBRA.
Many policyholders can mix and match coverage, taking COBRA for themselves if they have an ongoing medical condition but picking up less involved coverage for their family members. The main thing is that different people have different needs for coverage and for their budget, and those two things must be considered when deciding on a policy.
"There's no one right plan for everybody. Every family has unique needs. You need to be a good consumer. The most important thing is no one should be without health insurance coverage," said Laden. "Options are available for health care and budget needs. It's tempting, when the budget is squeezed and there's no revenue, to let health insurance go. But you can get an injury that is serious and needs hospitalization, and that cost can put you into bankruptcy. You may never be able to pay it off."
Once again - if you find yourself in these circumstances, give me a call at 888-943-3336.
Enacted in 1986, COBRA's high cost is a contributing reason why 47 million Americans are uninsured — a figure in a report from Families USA.
"There are some misconceptions about COBRA," said Ellen Laden, spokesperson for United Healthcare Golden Rule Insurance, one of the two largest health insurers in the country that offers medical plans for unemployed. "If you never had to use it, you don't know. In today's economy, more and more people are finding themselves losing jobs or losing benefits or are covered by health insurance, but their families no longer are."
To be eligible for COBRA coverage, an employee must have been working for a company of 20 or more. Employees laid off from smaller businesses are not eligible. Also ineligible are those who have worked for companies that have dropped medical coverage or have closed suddenly.
"One of the problems with COBRA is it tends to be expensive," said Laden from her office in Indianapolis. "It costs up to 102 percent of the cost of health insurance (for family coverage)."
COBRA premiums vary from state to state, and Laden said cost can be computed at three or four times what a worker had been paying each month for the medical coverage at that job. That means if you had been paying $100/month, depending upon your employers benefit program, your COBRA could be as much as $300 or $400/month.
Employers often pay 75 percent of health insurance costs, and large employers pay even more. Many who leave a company and its coverage are not ready for the sticker shock once they have to pay for their own coverage.
So, consumers should shop around with a broker (you can call me for help at 888-943-3336), before resorting to the popular course of action with COBRA.
But there is one time when COBRA becomes the preferred alternative, said Laden: people who lose employer coverage and have serious pre-existing conditions or chronic illnesses.
"That prevents them from getting coverage in the ordinary market. It is important for those people to continue coverage under COBRA for as long as they can," said Laden.
Once COBRA coverage is exhausted, insurees become eligible for HIPAA — Health Insurance Portability and Accountability Act. Enacted in 1996, it guarantees coverage for that 10 percent of the population who cannot get affordable alternatives in the individual market after COBRA.
Many policyholders can mix and match coverage, taking COBRA for themselves if they have an ongoing medical condition but picking up less involved coverage for their family members. The main thing is that different people have different needs for coverage and for their budget, and those two things must be considered when deciding on a policy.
"There's no one right plan for everybody. Every family has unique needs. You need to be a good consumer. The most important thing is no one should be without health insurance coverage," said Laden. "Options are available for health care and budget needs. It's tempting, when the budget is squeezed and there's no revenue, to let health insurance go. But you can get an injury that is serious and needs hospitalization, and that cost can put you into bankruptcy. You may never be able to pay it off."
Once again - if you find yourself in these circumstances, give me a call at 888-943-3336.
Tuesday, January 6, 2009
Generic Drugs vs. Brand Name Drugs... Who Cares?
First of all, why should you care? Because you can save a boatload of money, that's why!
This is where the big bucks are. If you take one pill a day and the brand name drug is $3 a pill (yes, that's realistic). In one year, you'll spend $1,095 for that one medication. A generic drug purchased at Wal Mart with no health insurance will cost you $4 for 30 days - that's $48.00 a year - a $1,046 savings.
What's the bottom line? Here's some comments from a recent study: "...the research reconfirms that FDA-approved generics provide the same medicine with the same clinical effects at a substantial cost savings." The results of 30 studies done since 1984 comparing nine sub-classes of cardiovascular drugs to generic counterparts were combined and showed that brand-name drugs did not offer any advantage for patients' clinical outcomes (Journal of the American Medical Association).
So! Take the kids out on the town or the family out to dinner once a month and use generic drugs whenever possible.
This is where the big bucks are. If you take one pill a day and the brand name drug is $3 a pill (yes, that's realistic). In one year, you'll spend $1,095 for that one medication. A generic drug purchased at Wal Mart with no health insurance will cost you $4 for 30 days - that's $48.00 a year - a $1,046 savings.
What's the bottom line? Here's some comments from a recent study: "...the research reconfirms that FDA-approved generics provide the same medicine with the same clinical effects at a substantial cost savings." The results of 30 studies done since 1984 comparing nine sub-classes of cardiovascular drugs to generic counterparts were combined and showed that brand-name drugs did not offer any advantage for patients' clinical outcomes (Journal of the American Medical Association).
So! Take the kids out on the town or the family out to dinner once a month and use generic drugs whenever possible.
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