Healthcare reform goes down 7-1. Citing concerns that the plan could worsen the state's $14.5 billion budget deficit and unpredictable long term costs, the California Senate Health Committee voted 7-1 against the health care reform bill negotiated by Gov. Schwarzenegger and Assembly Speaker Fabian Núñez. Schwarzenegger vowed to continue his efforts to overhaul California's health care system.
Individuals & businesses in the Pacific and Southwestern states can review all state health insurance policy comparisons online at QuoteBroker
January 29, 2008
California Healthcare Reform Shot Down
Delta Dental for Independent Contractors
Delta Dental remains the most requested Dental plan, however most individuals are limited to participating in the Delta DMO plan (specific dentists). In order to see your own dentist, you will need to have a Delta PPO or Delta Premier program. These plans are usually only available to groups (10 or more W-2 employees).
Until now, most self employed individuals and independent contractors (1099), especially Realtors, were limited to participating in their association sponsored insurance carriers plan, or had to purchase individual coverage.
Recently we have learned about a new program called Dental For Everyone . This plan is available to self employed individuals, small groups and independent contractors. This group may now "piggy back" a larger association program administered by a TPA (third party administrator). Open enrollment is year round, allows you to use any dentist and rates are based on geographical area, not age. Another great feature is that vision coverage is included through Eye-Med, a national vision program with participating department stores, specialty optometrists and vision chain retailers.
If you have been looking for a quality Dental insurance provider - Delta Dental remains one of the countries most popular carriers.
Until now, most self employed individuals and independent contractors (1099), especially Realtors, were limited to participating in their association sponsored insurance carriers plan, or had to purchase individual coverage.
Recently we have learned about a new program called Dental For Everyone . This plan is available to self employed individuals, small groups and independent contractors. This group may now "piggy back" a larger association program administered by a TPA (third party administrator). Open enrollment is year round, allows you to use any dentist and rates are based on geographical area, not age. Another great feature is that vision coverage is included through Eye-Med, a national vision program with participating department stores, specialty optometrists and vision chain retailers.
If you have been looking for a quality Dental insurance provider - Delta Dental remains one of the countries most popular carriers.
January 9, 2008
Shopping for Insurance Online
Today more people are shopping online. Clothes, electronics and other consumer goods. But what about insurance? You bet. The number of online insurance shopping websites increase each month. Some sites are merely bait sites. These sites take your information and sell them to one or more insurance agents. Insurance agents purchase this information from these companies for $10 - $30 each. It's a numbers game for the salesman and a guaranteed revenue source for the online lead brokerage. Before you know it - multiple agents are calling you and requesting appointments to sit in your living room or across your kitchen table.
True online insurance brokerage firms usually are operated by professionals. You can easily check their credentials through the state department of insurance. Most have an insurance active insurance practice in his/her community. Others sell online, offering competitive product information. A good online insurance brokerage firm uses complex quoting engines that will shop the insurance marketplace and arm the shopper with competitive rates, plan descriptions and online comparisons from numerous insurance companies. Many times you can even download an application, or apply online. In California, Arizona, Nevada and Texas, you can shop, compare and apply online for affordable health, life and disability insurance coverage from the original QuoteBroker.
True online insurance brokerage firms usually are operated by professionals. You can easily check their credentials through the state department of insurance. Most have an insurance active insurance practice in his/her community. Others sell online, offering competitive product information. A good online insurance brokerage firm uses complex quoting engines that will shop the insurance marketplace and arm the shopper with competitive rates, plan descriptions and online comparisons from numerous insurance companies. Many times you can even download an application, or apply online. In California, Arizona, Nevada and Texas, you can shop, compare and apply online for affordable health, life and disability insurance coverage from the original QuoteBroker.
January 8, 2008
Why is my Association Health Insurance so expensive?
A frequent question that I receive is "Why is my Association Group Plan so expensive?"
Whether you work for a local or national association, trade union or other affiliated professional organization, you need to read your insurance policy carefully. Many plans are not true group plans, but rather supplemental coverages or endorsed products that may or may not offer a discount.
Insurance companies require "true group" cases to have a minimum participation percentage. Although it varies by company, most plans require at least 70% of their eligible employees to be included in the companies health plan. Ineligible employees may be part time, seasonal, newly hired or employees that have elected to be covered under another plan, which is often their spouses coverage. Insurance companies also usually require the employer to pay for a large percentage of the employees medical costs.
These facts are not true with an association. Members are not employees. Many individuals are self employed or independent contractors. The insurance company and association can not require these members to enroll in the plan offering, therefore the actual participation rate may be poor. With the uncertainty of the actual number of participants, the insurance company must actuarially charge a higher premium rate or cushion in the plan design.
An association group plan does not mean that the premium will be lower or cheaper for member. It merely means that a member can join the plan, usually without medical underwriting to qualify for coverage. This creates a new problem for the sponsoring insurance company. Sick people enroll in a group with an already low percentage rate among eligible participants. This factor also contributes to higher rates. Many older associations are eventually dropped from the insurance carrier for poor claims experience and lack of plan profit. Others experience large annual premium increases. Healthy people find alternative less expensive coverage, creating a large "polluted pool" of more sick people, without the benefit of receiving the premiums from the healthy population. Often healthy or younger people are overcharged to pay for the high claims experience.
Before you join an association sponsored plan, don't jump in without first checking the premium rates against the open marketplace. You may be able to purchase a small group plan or individual coverage for less money, better benefits and more plan variety. In California and several other states, small groups with (2 -50) employees can often qualify for Guaranteed Issue coverage. Incorporated spouses that are both officers of that company may even qualify as a 2 person group. This is a popular option in the Real Estate community. Be an informed shopper and compare the pro's and con's before buying insurance. For more information about association, group and individual plan options, visit QuoteBroker. This site easily compares plans on-line in minutes.
Now is a good time to shop for insurance , especially if you are looking for an HSA plan, (Health Savings Account) or to begin a new year with a new plan annual deductible requirement. Proper planning can save your business or family thousand of dollars each year.
Whether you work for a local or national association, trade union or other affiliated professional organization, you need to read your insurance policy carefully. Many plans are not true group plans, but rather supplemental coverages or endorsed products that may or may not offer a discount.
Insurance companies require "true group" cases to have a minimum participation percentage. Although it varies by company, most plans require at least 70% of their eligible employees to be included in the companies health plan. Ineligible employees may be part time, seasonal, newly hired or employees that have elected to be covered under another plan, which is often their spouses coverage. Insurance companies also usually require the employer to pay for a large percentage of the employees medical costs.
These facts are not true with an association. Members are not employees. Many individuals are self employed or independent contractors. The insurance company and association can not require these members to enroll in the plan offering, therefore the actual participation rate may be poor. With the uncertainty of the actual number of participants, the insurance company must actuarially charge a higher premium rate or cushion in the plan design.
An association group plan does not mean that the premium will be lower or cheaper for member. It merely means that a member can join the plan, usually without medical underwriting to qualify for coverage. This creates a new problem for the sponsoring insurance company. Sick people enroll in a group with an already low percentage rate among eligible participants. This factor also contributes to higher rates. Many older associations are eventually dropped from the insurance carrier for poor claims experience and lack of plan profit. Others experience large annual premium increases. Healthy people find alternative less expensive coverage, creating a large "polluted pool" of more sick people, without the benefit of receiving the premiums from the healthy population. Often healthy or younger people are overcharged to pay for the high claims experience.
Before you join an association sponsored plan, don't jump in without first checking the premium rates against the open marketplace. You may be able to purchase a small group plan or individual coverage for less money, better benefits and more plan variety. In California and several other states, small groups with (2 -50) employees can often qualify for Guaranteed Issue coverage. Incorporated spouses that are both officers of that company may even qualify as a 2 person group. This is a popular option in the Real Estate community. Be an informed shopper and compare the pro's and con's before buying insurance. For more information about association, group and individual plan options, visit QuoteBroker. This site easily compares plans on-line in minutes.
Now is a good time to shop for insurance , especially if you are looking for an HSA plan, (Health Savings Account) or to begin a new year with a new plan annual deductible requirement. Proper planning can save your business or family thousand of dollars each year.
January 7, 2008
California Healthy Families Plan for Children
In California (and most other states) there are special programs available through the state to offer quality healthcare to children. These are low cost insurance plans by offered by quality health insurance companies, that provides health, dental and vision coverage to children who do not have insurance today and do not qualify for no-cost Medi-Cal. program.
This insurance coverage pays most of your children’s costs for visits to doctors, dentists, and specialists. These plans also contract with clinics, laboratories, pharmacies and hospitals for your children’s health care. Usually a nominal doctor co-payment charge of $5.00 must be paid when services are rendered. The cost of this healthcare program is very inexpensive. Premiums are band rated based on the families net income. An average premium would be between $8.00 & $15.00 per month per child, or a maximum of $45.00 per month for all children in the family.
To qualify your child for coverage, a brief questionnaire must be completed. It is more of a calculation worksheet. You don't have to qualify as "poor" to be eligible for this plan. A family earning in excess of $60,000 per year could still qualify. There are also plans to cover pregnant and expecting mothers. In most communities there are volunteers or Healthy Family liasons to assist you with your application and document submission.
For more details you can contact your states department of health and family services, or departmant of insurance. In California you can reach Healthy Families (here)
This insurance coverage pays most of your children’s costs for visits to doctors, dentists, and specialists. These plans also contract with clinics, laboratories, pharmacies and hospitals for your children’s health care. Usually a nominal doctor co-payment charge of $5.00 must be paid when services are rendered. The cost of this healthcare program is very inexpensive. Premiums are band rated based on the families net income. An average premium would be between $8.00 & $15.00 per month per child, or a maximum of $45.00 per month for all children in the family.
To qualify your child for coverage, a brief questionnaire must be completed. It is more of a calculation worksheet. You don't have to qualify as "poor" to be eligible for this plan. A family earning in excess of $60,000 per year could still qualify. There are also plans to cover pregnant and expecting mothers. In most communities there are volunteers or Healthy Family liasons to assist you with your application and document submission.
For more details you can contact your states department of health and family services, or departmant of insurance. In California you can reach Healthy Families (here)
January 5, 2008
Health Savings Accounts - New Limits for 2008
An Insurance Policy and a Special Savings Account.
A Health Savings Account is really a combination of a health insurance policy meeting minimum US Treasury policy design requirements called a High Deductible Health Plan (HDHP) and a separate custodial savings account for future medical expenses called a Health Savings Account (HSA). Congress created the HSA as a way to cover your future medical expenses, and it is subject to IRS regulations and guidelines. A health insurance company or an insurance plan usually provides the qualified health insurance policy. A licensed HSA administrator and financial services company, such as a bank, usually acts as the custodian and administers the savings account portion of the HSA.
You can save up to the maximum contribution limit of $2,900 for an individual HSA and $5,800 for a family HSA regardless of the HDHP deductible for 2008. These limits are also subject to annual cost-of-living adjustments. Amounts are no longer pro-rated if you start the plan mid-year. You can now make the full year's contribution even if you start as late as December. Individuals age 55 to age 65 can contribute an additional $900 over the above limits in 2008.
Consult your tax advisor for additional information concerning plan deductibility. To learn more about Health Savings Accounts, click here.
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