August 2010 - InsureYourCompany

The state of New Jersey has released pricing and plan information about their pre-existing conditions program for uninsured residents.

As you may recall from my original post about the new health insurance exchange, the Patient Protection and Affordable Care Act (PPACA) was started nationwide to provide subsidized insurance for American citizens that do not have insurance due to a pre-existing medical condition.

Each state has the choice to run their own plan or go under the federal plan. The New Jersey Department of Banking and Insurance has decided to run their own plan with Horizon Blue Cross Blue Shield as the sole provider of healthcare.

To be eligible for PPACA coverage an applicant must be a US citizen, a resident of New Jersey, been uninsured for at least six consecutive months, and have a pre-existing medical condition.

The plan in New Jersey will now be called, NJ Protect, and have premiums ranging from $212.63 to $767.95 for a single person depending on the age of the applicant and design of the policy.

Plans offered provide in and out of network benefits similar to a PPO plan. Treatments for pre-existing conditions are covered from the start of the policy and also offer preventive care with no additional cost to the policyholder.

Do you think healthcare reform will continue to provide affordable healthcare for un-insured Americans?

Post a comment or email me at blog@insureyourcompany.com.

Avastin, a popular cancer treatment drug may have its approval revoked by the FDA after studies have found that the drug may not extend patients lives beyond a month, according to The Daily Telegraph. This about face has provoked fears that the FDA is starting a death panel as insurance carriers will likely drop coverage for the costly medication.

The FDA advisory panel has now voted 12-1 to drop the endorsement for breast cancer treatment. The panel unusually cited “effectiveness” grounds for the decision. But it has been claimed that “cost effectiveness” was the real reason ahead of reforms in which the government will extend health insurance to the poorest.

The New York Times has stated that the original trial showed that tumor progression halted for five months, but in new trials that used a combination of different chemotherapy drugs the tumor progression halted for less than a month to three months.

Britain’s National Institute for Health and Clinical Excellence, a pace-setter in evaluating medical advances, issued draft guidance this month against using Avastin for advanced breast cancer patients in the National Health Service. It called the clinical trial data “disappointing” and the cost “too high for the limited and uncertain benefit it may offer patients.”

I don’t believe that this results in Palin death panel rationing as some publications would have you believe.

If a drug does not work as intended, the FDA is within their rights to deny approval for the drug. If someone wants to use a drug that is not approved, then can do so and pay out of their pocket. If someone want to spend $8000 a month on Avastin, then they have every right to do so. I hope this issue is not used as a political weapon by politicians on either side of the aisle in the US.

What do you think? Is the FDA starting a death panel to ration healthcare? Do you think healthcare reform will make the country worse or better off?

Post some comments or email me at blog@insureyourcompany.com. I want to hear your opinion!

I receive tons of spam email, and I’m sure you do too. You may even get email from friends who think they are being helpful and informing you about the current health insurance reform that is taking place.

Unfortunately, one email circulating lately is blatantly not true. The email that is going around claims that your employer’s contributions to your health insurance will be considered income and will become taxable to you. A health insurance premiums tax is not coming to the US. The Huffington Post debunks this email in a recent blog posting on their website.

The IRS will require employers to list their contribution amounts on your W-2 starting in 2012, but current law excludes health insurance premiums from taxable income. The reason for the new reporting, is due to the new individual mandates, requiring individuals to have health insurance coverage. There are also employer mandates to offer coverage and fines to individuals who have “Cadillac plans.” These are all reasons why your employer’s contributions will appear on your w-2.

Rest assured, there will be no taxes on the money your employer contributes to your health insurance premiums.

An explanation of why health insurance is expensive in America and an overview of current health care reform and other possible fixes that may alleviate high prices.