Posts Tagged ‘Coinsurance’
Thursday, October 21st, 2010
Many small business owners are now facing the tough decision as to whether they should grandfather their plans, or make necessary changes to bring down their costs. There are pros and cons to both sides, and the decision should not be a rushed one. Therefore, we want to provide some guidance tools to help you make the right choice.
With the recent rate increases there may be a desire or need to choose a higher deductible plan with lower rates.
- If you increase the deductibles, coinsurance, or maximum out of pocket exposure, your new plan will be subjected all changes in the recently passed healthcare reform act.
This is a preview of
Should You Grandfather Your Group Plan?
.
Read the full post (166 words, estimated 40 secs reading time)
Tags: added benefits, Coinsurance, deductibles, group health, health care reform, preventative care, Universal Health Care
Posted in Employers, Federal, Government Run Health Plan, Group, Laws | No Comments »
Monday, August 30th, 2010
One outstanding declaration in President Obama’s health care reform plan is the promise people who like their current health plan will have the option to keep it. How will this work? The plan is to grandfather in policies in order to “protect the ability of individuals and businesses to keep their current plan while providing important consumer protections that give Americans – rather than insurance companies – control over their health care”, per the U.S. Department of Health and Human Services, Labor and Treasury. Also, “The new regulation also provides stability and flexibility to insurers and businesses that offer health insurance coverage as the nation transitions to a more competitive marketplace in 2014 when businesses and consumers will have more affordable choices through exchanges”*.
This is a preview of
Rules Governing Grandfathered Health Plans
.
Read the full post (388 words, estimated 1:33 mins reading time)
Tags: Coinsurance, deductibles, group health, health care reform, Universal Health Care
Posted in Employees, Employers, Federal, Government Run Health Plan, Group, Laws | No Comments »
Monday, November 16th, 2009
Anthem Blue Cross has discontinued some of their PPO Share (maternity) plans in California, and although you may keep your current coverage, you may find the rates higher than you anticipated. In this case, new plans have been designed to offer comparable coverage with lower premiums. For instance, those individuals and families on the PPO Share 2500 or 1500 may want to consider moving to a less expensive plan, such as the PPO Share 3500. These plans will balance the escalating costs of maternity coverage with higher deductibles and out of pocket maximums. You will still have the comfort of knowing that your coverage is in place should you need it, and continue using your current doctors and hospitals. Also, moving to a new plan will not always require medical review, making the process even easier.
As your agent, we also suggest reviewing options for those family members who do not need maternity coverage, and consider separate plans for your family members. You’ll find that this can often reduce your overall premiums, as you are no longer paying for coverage you don’t need.
Permanent link to this post (186 words, estimated 45 secs reading time)
Tags: Coinsurance, deductibles, heath insurance, maternity
Posted in Family, Individual, Resources | No Comments »
Monday, October 12th, 2009
Many carriers have released information that they will be covering the H1N1 virus (swine flu) vaccine and all administrative costs associated with obtaining the vaccine. Although focus will start with clients at most risk, all members will be ultimately covered. The two anti-viral medications, Tamiflu and Relenza, both offered in a generic formula as well, will be covered under the Tier 1 benefit, which ensures the lowest copayment for members to get their medications.
Companies that have agreed to this thus far are Blue Shield of California, Aetna, and BCBS IL, with more carriers joining in every day. Please contact us or check your insurance companies website to see how they will help you to protect yourself and your family members.
Note:
It is important to understand that these benefits are subject to the vaccine’s availability. The CDC is working with local health departments to ensure the following targeted priority populations receive the vaccine first:
1. Pregnant women
2. People who live with or care for children younger than 6 months of age
3. Healthcare and emergency medical services personnel
4. Persons between the ages of 6 months through 24 years
5. People ages 25 through 64 years who have chronic health disorders or compromised immune systems.
Permanent link to this post (209 words, estimated 50 secs reading time)
Tags: Coinsurance, deductibles, preventative care, wellness
Posted in General, Resources, Tools | No Comments »
Friday, June 5th, 2009
We all know how confusing insurance terminology can be. Here is a short list of the most commonly used terms to help you better understand the fine print on your policy:
HMO: refers to Health Maintenance Organization. HMO’s provides comprehensive health care by network physicians to those in a particular geographic area. With an HMO, you need to access care through a designated Primary Care Physician.
PPO: Preferred Provider Organization. PPO plan members receive full coverage by using doctors and hospitals within the PPO network, or they can pay more to go outside of the network for care.
Tags: Coinsurance, deductibles, HMO plan, ppo, ppo plan
Posted in General, Resources | No Comments »
