Archive for January, 2009
Combination Supplements May Be Less Expensive
Older Americans who are facing retirement, or who have already retired, generally find they are living on fixed incomes. Budgeting your fixed income while facing rising costs can be very challenging.
A budget is a necessary thing once you are older, simply because not everyone has the benefits of pensions, settlements, investments or inheritances. This often means seniors face the unsettling question of whether or not they are able to afford health care insurance any longer. “If this is something the family is struggling with,” said Randy Gillespie of Focus Insurance Group in Liberty, Illinois, “then combining Medicare and Medicare Supplements might be the answer to save money.”
It’s also a fact of life that when we get older we want to know we have access to good health care and the benefits we need, when we need them. Sometimes life is more about pinching pennies, which leads to finding cost effective health care — health care that covers all contingencies.
That may sound like it is impossible, but it is not, if you deal with Randy Gillespie at Focus Insurance Group in Liberty, Illinois. “Focus got its name because our sole focus is on the needs of the customer. That is who we work for,” stated Gillespie.
Often the best options for Seniors come when Medicare and Medicare supplements are combined. This makes a great deal of sense, as the supplements were designed to fill gaps in the original health care plan. “It isn’t as confusing as one might think,” explained Gillespie, ” as there are part A-L supplement choices to bolster Medicare coverage, and this means people can do their budgets in advance.”
It not only means knowing your budget in the foreseeable future, but combining options will save money in the long run as well. In addition to saving through combining supplements, the other smart move is to shop for generic drugs. “Often the price differences between generic and brand name drugs will make a significant difference in a Senior’s health care expenses,” said Gillespie.
To learn more, visit http://www.focusinsgroup.com.
Medicare Advantage Plans — Yes? or No?
This is a question that many Americans ask themselves when they start thinking about health care insurance. They want to know if Medicare Advantage Plans really are an advantage. Randy Gillespie at Focus Insurance Group in Liberty, Illinois, knows this better than anyone, as he fields questions like this on a daily basis.
The Advantage Plans may or may not be an advantage and the reason for that depends on the requirements of each individual or family. There is actually no advantage for some people, but how do they know that? “They only know if the plan will work for them if we sit down and talk about what Focus Insurance Group has to offer for them,” outlined Gillespie.
Trying to find out what is and isn’t going to work to a person’s advantage may be a bit of a guessing game, if the health care insurance broker or company they are dealing with isn’t forthcoming with the information they need. For instance, there are people who want to have everything totally covered and not have to pay one red cent for anything.
There are also other people who can only manage to pay the percentage difference between what a doctor charges at his office and what their insurance company pays. Call this the 80/20 split with the higher cost going to the insurance company. The question that usually arises in these widely differing scenarios is how the consumers are going to be serviced.
“Medicare Advantage options are numerous and because they are so plentiful, they get confusing,” outlined Gillespie. However, having said that, once a consumer does understand what is covered, it is pretty straightforward and what they see is what they get. That, in itself, is an advantage. Try this with a private insurance company and find out they are under no obligation to cover anything they don’t think is going to be a good risk.
To go with the Advantage Plan or not, or to select a private health care insurance company, is a personal decision; one that is easier to make if the customer makes the right choice of insurance agent who will take the time to explain the differences in a meaningful way. Making decisions about what health care insurance to choose is made easier by calling a broker who is an expert, like Randy Gillespie of Focus Insurance Group, Liberty, Illinois.
To learn more, visit http://www.focusinsgroup.com.
Prescription Drugs Are Expensive
If you stop to think about it, the real problem with the health care system, aside from the enormous debt it is facing, is the cost of drugs. As most people know, drugs are very expensive.
Treating patients in America’s health care system has seemingly turned into a contest of who can charge the most for which services. If you don’t happen to carry health care insurance, then you will relate to that remark, particularly if you have had to pay for medical services recently. The cost of getting sick, treating a broken bone, cancer or another major illness is overwhelming.
The sad news is that this upward spiraling trend doesn’t show any signs of slowing down anytime soon. The bottom line is people think the cost of the actual treatment is the real problem with the health care system in the U.S. It is “in part,” but the bigger chunk of the blame goes to the drug companies.
You will know this to be true when you take a look at your Part D drug coverage prices. Staggering isn’t it? Most of the brand name drugs you are paying for are priced so high they likely compete with your mortgage payments – or at least seem like they do. There is no need for this, thanks to the advent of generic drugs.
There is a myth that generic drugs aren’t as effective as brand name drugs, which are manufactured by larger pharmaceutical companies — that’s just what it is, a myth. The only differences between generic drugs and the brand name expensive pills, may only be in the coating or color of the drug; other than that, they work the same way as the brand name drugs do.
You may be thinking that you have seen a particular a drug on TV and know that it will be great for your condition. So, off you go to the doctor and ask for brand name X drug for such and such condition. Chances are that $35 dollar brand name pill could have easily been a $5.00 one, had you asked for a generic alternative. Always make it a point to ask your doctor and the pharmacist for generic alternatives. If you do that, it is pretty much guaranteed you will save money on your health care costs.
The only reason drug companies bring out new drugs, which often are just a slightly tweaked existing drug, is to make money; and, of course, you want to save money in this challenging economy. Shop smart for your drugs — buy generic.
Randy Gillespie is with Illinois health insurance agency, Focus Insurance Group. To learn more about Illinois Medicare, health insurance, group health insurance or to get an Illinois health insurance quotes, visit Focusinsgroup.com
Illinois health insurance, Illinois health insurance quotes, Illinois group health insurance
We Know What Good Customer Service Means to You Because We Offer It
Good customer service can never be underestimated; in fact, good service, when it comes to buying health care insurance, will let you know right up front what benefits are included in your plan. There is no “Let’s see if the consumer can guess what they actually just bought,” nonsense.
We all know what it’s like trying to buy health care insurance – it’s daunting; however, it doesn’t have to be if you choose the right insurance agency to shop for you because they have access to multiple carriers and good rates. Shopping for health care insurance can be a pleasant experience if you find an insurance agent who is willing to take the time to tell you precisely what is in the policy you are considering.
Why are things like this important? They’re important because you are a valued customer and should be treated as such. You need to know precisely what you are buying, what it will do for you, how much it costs, what it will not cover, and what (if anything) there is in the fine print. Yes, all insurance policies do have fine print, but a good agent will point it out to you right away and answer your questions, not brush them off.
Don’t we all want an insurance agent who explains the kind of health care benefits that would best suit you and your family, or you personally? It is frustrating to be in a situation when you need a particular coverage and you find out you don’t have that coverage. In fact, if there ever was a feeling of betrayal by the system, that would be it.
Paying extra money for something you could have sworn was covered in your health care insurance is guaranteed to make consumers very unhappy. Health care insurance agents who pull stunts such as this, can be assured when it comes time to renew an insurance policy, that same customer who got stung for extra expenses won’t be eager to sign on the dotted line again.
Insurance can be confusing for the layperson, and this is why the good insurance brokers know in order to make a sale and to keep that customer, they need to outline all the benefits, all the costs, and all the things that are not covered in plain English. There is nothing worse than asking questions and when done with the conversation still not truly know what was said.
Whether it’s supplements, plans or parts you are interested in, call a health insurance broker who will spend the time telling you the facts.
Randy Gillespie is with Illinois health insurance agency, Focus Insurance Group. To learn more about Illinois Medicare, health insurance, group health insurance or to get an Illinois health insurance quotes, visit Focusinsgroup.com
Illinois health insurance, Illinois health insurance quotes, Illinois group health insurance
Lost group health plan - What now?
As long as your job loss is a qualified event, which it most likely is, you would be entitled to the same group health plan through COBRA (Consolidated Omnibus Budget Reconciliation Act) or state continuation. Group health plans for employers with 20 or more employees on more than 50 percent of its typical business days in the previous calendar year are subject to COBRA. Group health plans with 19 or fewer employees would be subject to state continuation.
1. Now I have some good news and some not so good news. First the good news, relax you can keep your health benefits. The bad news is that it can be very expensive. The reason is that you are now responsible for the entire portion of your health plans premium not just the part you use to pay. The employer can also add a 2% increase for administration. This is very difficult to pay for most people.
2. The plan administrator must provide notice to individual employees of their right to elect COBRA coverage within 14 days after the administrator has received notice from the employer.
3. You must respond to this notice and elect COBRA coverage by the 60th day after the written notice is sent or the day health care coverage ceased, whichever is later. Otherwise, you will lose all rights to COBRA benefits.
I would try to get an Individual or family policy first, this could save you a lot of money. To get a free competitive quote go to www.focusinsgroup.com. You can pick up to 4 plans at a time and do a side by side comparison of the plans your interested in. You can also download the Illinois Health Insurance Buyers Guide to help you pick the policy which will help your circumstances the best.
If you have pre-existing health conditions and you do not qualify for an individual policy you will most likely have to stay on COBRA. The length of time you are allowed to stay on COBRA can vary. It is typically 18 months.
Recommendations: If you have pre-existing conditions but your family does not, try to put the rest of your family on an individual policy. If you are not sure which way is the best and most cost effective way give me (Randy Gillespie) a call at Focus Insurance Group,Inc. Office number 217-645-3075 I’d be glad to help.
WellPoint suspended from new Medicare enrollments
Posted On: Jan. 13, 2009 2:51 PM CST
Jerry Geisel
INDIANAPOLIS—Managed care giant WellPoint Inc. said it has been suspended by the Centers for Medicare and Medicaid Services from enrolling new members in its Medicare programs as it moves to resolve undisclosed issues uncovered by internal and CMS audits.
Indianapolis-based WellPoint said it was surprised by the immediate suspension since it had been meeting with CMS regularly regarding its remediation process.
“Our plan is to continue to work with CMS to make improvements as expeditiously as possible, and we will continue to put the resources of our company behind this effort to help ensure we can meet the needs of our Medicare members,” WellPoint said in a Monday statement.
While WellPoint cannot accept new Medicare members, it said it will continue serving those already enrolled.
As of Sept. 30, 2008, WellPoint had about 472,000 Medicare Advantage members and 1.9 million enrollees in its Medicare Part D prescription drug plans. In all, the nation’s largest private health insurer has about 35 million enrollees.
HSA’s have grown by 60% for J.P. Morgan
J.P. Morgan says HSA business has grown by 60 percent
Healthcare Finance News
By Molly Merrill, Associate Editor 09/09/08
NEW YORK - J.P. Morgan has reported that its Health Savings Account business has grown by 60 percent in account volume over the last year.
The firm reports seeing a 97 percent adoption rate among eligible employees in HSA programs sold by J.P. Morgan directly to employers.
Officials say much of the success of these new plans is attributed to senior level commitment and employee training and education.
“Employers that have embraced the HSA as a major part of their healthcare strategy are seeing high levels of adoption,” said David Josephs, head of J.P. Morgan’s Consumer-Directed Healthcare business. “Keys to success are a strong plan design with employer contributions and an aggressive education program.”
J.P. Morgan saw early adoption of its program from medium and small businesses that found the HSA as a way to preserve affordable health coverage.
As the HSA is offered along with a high-deductible health plan, employers are generally able to offer their employees lower premiums and put employees in control of how their dollars are spent. The additional tax savings of these plans can also make offering the program much less expensive for the employer than traditional insurance coverage.
“HSAs enable employers and consumers to balance more effectively short- and long-term needs around healthcare expenses,” said Josephs. “With the rising cost of healthcare coverage, health insurance plans that include an HSA help individuals plan for current and future expenses while helping employers and individuals manage healthcare costs.”
Similarly, many large organizations have adopted J.P. Morgan’s HSA program. These organizations come from industries such as manufacturing, retail and financial services, with participation across all salary levels including low- to-moderate income employees as well as managers and executives. According to J.P. Morgan these larger organizations can save up to 30 percent to 40 percent annually using HSAs.
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