Picture this scenario: You’ve been working since you were a young adult and now you’re approaching the dawn of your retirement. All of a sudden – you are let go from your job. You are 60 years old, too young for Medicare, receive too much retirement benefits for Medicaid, and your COBRA benefits have expired.
The biggest trap door in the American health care system?
For years you’ve been working and receiving employer sponsored health insurance, but now ...
So you have done some research and really think that another insurance provider fits your needs better, now what?
What’s the first step?
Here is a general outline on what to expect and be prepared for. The first step is to approach the new health insurance provider and fill out a specific application for porting. They will process the application and post the request and on the IRDA site within one week. Meanwhile, your original health insurance provider will ...
Do you know how your health insurance provider spends the funds it receives from your monthly premium?
On Dec. 2nd, the Department of Health and Human Services issued a final ruling on the medical loss ratio rule, requiring health insurers for individuals and small groups to spend at least 80 percent of their premiums to pay for medical services or on other activities that improve health care quality.
What is the Medical Loss Ratio?
The MLR is a provision ...
As the States and the Obama Administration debate over the constitutionality of the health care law – the real people who take the burden are those who need health insurance coverage.
According to Estimations from the Congressional Budget Office, because of many provisions from the Affordable Care Act, such as the inclusion of young adults on their parents’ health plans, expansion of Medicaid, and the individual health insurance mandate, 30 million more Americans will have coverage by 2019.
What’s the ...
Think that the Affordable Care Act was the harbinger of change to the health care system? Think again – because changes were already occurring when talks were in place for the law, trends you need to know in order to understand future health care costs.
Let’s look at the trending changes and why:
Physicians:
It is rare today to see a Physician who will provide the entirety of the care because aside from primary care, with anything more intensive and ...
Republican Senator Rick Jones had to “hold [his] nose” while voting for a bill to set up the state health insurance exchange in Michigan.
This sentiment highlights a hesitant and awkward position the Republican-led Michigan Senate had to take in order to intitate the first steps in establishing their exchange. Although it is clear that Republicans are critical of many provisions of “Obamacare,” the vote Senator Jones made shows that at least the state would like to decide how to ...
The United Health Foundation has released its annual “America’s Health Rankings” that ranks each of the 50 states from the healthiest to the least healthy.
So it begs the question, where does your state rank? Check out the link from the United Health Foundation here.
Not only can you find clear charts and graphics representing where the 50 states placed, but you can also learn of interesting logistics related to America’s overall health, obesity statistics, smoking statistics and ...
So you have an individual health insurance plan that covers prescription drugs – but before you “see your doctor if _____ is right for you” stop and think about how and what exactly you’re spending your hard earned cash on.
Understanding the Pharmaceutical Market:
The market for pharmaceutical drugs has expanded greatly since the 90s, with an increase in the volume of medication consumed. With the creation of anti-depressants, statin drugs, drugs to lower cholesterol and hypertension and even aspirin ...
The Supreme Court has accepted to review the Patient Protection and Affordable Care Act, and the media outlets highlight how this could ultimately define the law. With their decision, they have the potential to strike it down once and for all - but is this true?
What exactly is the Supreme Court Deciding on?
There have been many attack on the Affordable Care Act that argue its constitutionality, but the Supreme Court is only deciding on only four issues.
Here are ...
In what seems to be the most controversial provision of the entire Patient Protection and Affordable Care Act, the individual health insurance mandate has stirred up the airwaves and printing presses about it’s benefits and consequences.
As the nation waits for the ruling of the Supreme Court on this issue that will define the entire law, here are some interesting statements to think about.
The U.S is one of the few developed countries that does not have universal ...
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