Healthcare Reform | InsureYourCompany.com

November 9, 2010 By paul Leave a Comment

The election results are in and the Republicans have retaken the House of Representatives.

Talk about the healthcare bill will once again be brought to the forefront of Congress. The Congress will attempt to change the present Health Care Initiative and this will put the entire Health Care system in turmoil again.

The new initiatives from the first bill have mixed reviews and have caused carriers to increase premiums. Options to employers have minimized while the premiums charged continue to escalate.

My clients ask me what they can do and I try to give them viable options to maintain the healthcare programs for their companies.

There will come a point where the choice will between giving a healthcare program or keep an employee working. The healthcare plan for that company will end. There will be a time when a small employer with less than 50 employees will NOT offer health plans. It will be simply unaffordable.

So what steps do you take now as an employer?

Get the employees involved! Either have them all in on the meetings or have them choose an employee representative to hear what the plans and costs are.

Most companies believe that they alone need to choose a plan.

This will not reduce the costs from the carriers but you might be surprised at the input from the employees.

Get the employees involved.

Editor’s note: This is a special post from insurance broker Alan Levenson.

October 21, 2010 By paul Leave a Comment

Like it or not, healthcare reform has passed and the first portion of the bill, the patient protection portion is implemented.

New group health insurance plans that are started after September 23^rd of this year will have a whole set of new protections that will expand coverage, but unfortunately may increase your rates. The costs of the added protections have to come from somewhere.

The second portion of the bill, the affordability portion is set to go in to effect in 2014. So what can your business do now with the outlandish increases and high rates that you are facing?

Two words. Shop now.

There are insurers out there that offer alternatives to traditional coverage and may be able to offer you immediate relief in the way of lower premiums. These insurers may not be right for every company out there, but it is worth looking in to. Some of these insurers are also exempt from the added costs of state regulation.

You have a choice right now. You can either take your increases and high premium costs and hope that in 2014 you will see relief, or you can take a hard look at your current group health insurance plan and come up with a strategy to contain costs.

I recommend that you develop a strategy now with an insurance broker who specializes in health insurance.

If your broker just hands you a couple of spreadsheets, you owe yourself, your company, and your employees the appropriate due diligence that a broker from CG Benefits Group and Technology Insurance Associates can provide. The plan that your company has, may not be the best option for you and the traditional marketplace may not be best either. Either way, you need to have your benefits reviewed.

Here’s what you need to do now:

Gather your employee census information to get ready to submit to a broker
Get copies of current plan benefit summary and rates
Prepare to take a serious look at your contributions as an employer and how much your employees contribute
Contact us now and a licensed insurance broker who specializes in health insurance will contact you to start getting quotes from all available carriers. You will discuss your strategy, goals, and needs with the broker to assist him or her in getting a proposal that meets all of your company’s requirements.

Filed Under: Healthcare refom and your business Tagged With: Employee Benefits, group health insurance, Health Insurance, health reform, healthcare reform, New Jersey employee benefits

August 27, 2010 By paul Leave a Comment

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.

Filed Under: Health care reform, Health Insurance, pre-exisiting conditions Tagged With: group health insurance, Health Insurance, health reform, healthcare reform, Obama health reform legislation, Pre-Existing Condition Insurance Plan, pre-existing conditions

August 20, 2010 By paul Leave a Comment

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!

Filed Under: cancer treatment, Health care reform, Health Insurance Tagged With: death panel, FDA, group health insurance, Health Insurance, health reform, healthcare reform, Obama health reform legislation, palin death panel

August 12, 2010 By paul Leave a Comment

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.

Filed Under: Employee Benefits, Health care reform, Health Insurance, taxes Tagged With: Employee Benefits, group health insurance, Health Insurance, healthcare reform, Obama health reform legislation, premium tax

July 8, 2010 By paul Leave a Comment

Last week Healthcare.gov launched as a portal for U.S. citizens to explore the American health insurance market in an easily navigated and concise website. The website includes ways to find insurance coverage options, learn about preventive care, compare quality care, and ways to understand the new insurance laws.

First of all, finding insurance coverage options is a very easy process of selecting options that apply to your unique situation. Whether you are a small employer, an individual with an illness, unable to get health insurance, or a young adult under 26, the website directs to state specific resources for finding coverage.

For example, for a small IT consulting firm in New Jersey, I was informed that New Jersey is a guaranteed issue state for health insurance. An insurance carrier cannot turn a small business down for coverage if it meets the qualifications of small employer. I was then directed to Department of Banking And Insurance where I could read their online New Jersey small employer’s buyers guide to health insurance.

The preventive care section of the website partners with healthfinder.gov where you can enter your age and gender and recommended tests, immunizations, and other health tips tailored to your information is presented. This is a great feature to include in the website and I found it very helpful.

Next, the U.S. Department of Health and Human Services’ hospital compare tool allows users to search hospitals by zip code and offers the ability to compare hospitals in your area by patient care surveys, care outcomes, medical imaging statistics, their Medicare coverage, and volume. This tool is an excellent addition to healthcare.gov and provides an easy way to compare hospitals.

Lastly, the website includes information about the Patient Protection and Affordable Care Act in an easy to understand format. A timeline for establishment of reform changes is included to easily reference when certain provisions of the bill will go into effect.

Filed Under: Health Insurance Tagged With: group health insurance, Health Insurance, health reform, healthcare reform, individual health insurance, Obama health reform legislation

July 1, 2010 By paul Leave a Comment

Many Americans without health insurance coverage due to pre-existing conditions may find themselves with health insurance coverage due to the newly established Pre-Existing Condition Insurance Plan (PCIP.)

Starting today, July 1st, 2010 many states will start accepting applications for the new plan with coverage likely beginning on August 1st. You can check to see if your state is running their own program at the following website.

This temporary high risk pool of coverage for Americans with pre-existing conditions will expire on 2014 when denying individuals insurance based on pre-existing conditions will be outlawed.

The congress has already allocated $5 billion to the program, so if you fit the description, you are urged to apply immediately, just in case the program runs out of money if a higher number of people than anticipated enroll in the plan.

In New Jersey, for example, the department of banking and insurance has decided to run their own program under guidance from the Department of Health and Human Services.

General rules for the program are as follows:

You must be un-insured for over 6 months
You must be unable to get insurance due to a pre-existing medical condition
You must be a United States citizen or a national

Premiums will vary from state to state, but the coverage cannot be higher due to your medical conditions or age.

According to healthcare.gov typical premium for the federally run program for a 50 year old will be between $320-$570. To get an estimate of premiums, check out the details at the website for the PCIP.

The Pre-Existing Condition Insurance Plan will cover a broad range of health benefits, including primary and specialty care, hospital care, and prescription drugs. All covered benefits are available for you, even if it’s to treat a pre-existing condition.

Most plans will have a deductible for major medical services such as hospital visits and surgery and a maximum out pocket to limit the patient’s liability.

Filed Under: Health Insurance, pre-exisiting conditions Tagged With: Health Insurance, healthcare reform, Obama health reform legislation, Pre-Existing Condition Insurance Plan, pre-existing conditions

June 7, 2010 By paul 4 Comments

In February of 2009, President Obama created a 787 Billion Dollar stimulus program intended to help Americans during our present recession. As part of the stimulus bill a 65 percent subsidy was started for Americans who were involuntary terminated from their jobs. The subsidy was extended in April, but expired May 31^st.

Americans that lose their job after June 1^st will have to pay the entire premium for COBRA coverage. According to Families USA, a consumer advocacy group, the monthly premium alone can eat up to 84 percent of a person’s unemployment check.

The extension of the COBRA subsidy was rejected by House Democrats to reduce the costs of a new jobs and tax bill that proposed extending the subsidy through December 31^st. The extension would cost 7.8 Billion Dollars according to a report by CNN.

Filed Under: COBRA, Health Insurance, Uncategorized Tagged With: COBRA, Health Insurance, healthcare reform

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

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.

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

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