[…] We did the same math that we always encourage our clients to do when considering various deductible levels. Our current health insurance policy has a $3,000 deductible, and costs $498/month. We found an option with a $5,000 deductible for $341/month. Switching to the $5000 deductible saves $1,884/year in premiums. […]
HSA
The Art And Science Of Choosing Providers
[…] Provider quality rankings are a piece of the puzzle for sure, but they’re not the only piece. I do think they will get more popular if health insurance carriers start actively encouraging patients to select from among the highest ranking providers. But there are other factors that go into choosing a provider that can’t be quantified on a spreadsheet or a graph.
Who Americans Blame For Rising Health Care Costs
[…] I think this survey is interesting in that it shows the perceptions people hold with regards to the health care industry. But I think it’s also indicative of the lack of transparency in health care pricing, and a lack of exposure to the actual costs of health care that occurs when most medical bills are funneled through the health insurance system.
Know the Numbers Behind Health Insurance Reform
[…] At the Colorado Health Insurance Insider, I’ve written about how employer-sponsored health insurance might not be the best set up. But while I see flaws in the group health insurance system, I’ve don’t believe a switch to individual health insurance would be prudent without making major changes to how individual health insurance is set up.
What To Look For When You Choose A Health Insurance Policy
John Martie, President of Anthem Blue Cross Blue Shield in Colorado, has written an article with pointers consumers can use when choosing a health insurance policy. His article focuses on group coverage, but I think his advice is just as pertinent for people searching for their own health insurance in the individual market. […]
Health Insurance Tax Credit Does Not Solve The Problem
[…] In order for health care reform to work, it has to work for everyone. We need a solution that spreads the cost of health care evenly across the entire population (adjusted for income, just as taxes are) and doesn’t leave large groups (like people with pre-existing conditions) to fend for themselves with no good health insurance options available.
The Cost Of Individual Health Insurance In Colorado
[…] Of course Colorado – like most states – uses medical underwriting on individual health insurance policies. And if underwriting were no longer allowed on Colorado policies, we could very well see the average family premium exceed $700/month. But for now, $5000 goes a long way towards paying for a health insurance policy in Colorado. […]
Lower Rate Increases Often Come With Fewer Benefits
[…] Once HB1355 takes effect in Colorado in January, we’re likely to see even more small businesses switching to lower-cost, high deductible health insurance plans. HSAs will eventually lead to more transparency in health care and more savvy consumers. But it will be a bumpy road for families adjusting to the change
Taxes And Health Care
I like a system that rewards people who put aside money to pay for medical bills. We encourage our clients in Colorado to apply for high deductible health insurance and set up HSAs if they are able to do so. But tax breaks for health care shouldn’t be limited to those who have the means to fund an HSA, or to people with very high medical bills relative to their income. […]
A New Transparency Tool From Anthem Blue Cross Blue Shield
Anthem Blue Cross Blue Shield has introduced a useful tool for their Colorado health insurance members. It’s time to lift the veil of secrecy that surrounds network negotiated pricing. Health care is too important – and way too expensive – for consumers to have to guess when it comes to pricing and picking a provider […]
Demand For Health Care Decreasing
We’re noticing more and more of our Colorado clients requesting high deductible health insurance policies, with prescriptions covered only once the deductible is met. Does this mean that they are more likely to pass on meds? Probably it means that they’ll think twice before going to the doctor or filling a prescription. When an employer sponsored health insurance policy is paying for […]
Insureds With HSAs Dropping Meds
So while it would be nice to think that everyone who gets an HDHP is also setting up an HSA, funding it little by little until the account has enough money stashed away to cover the deductible, and then shopping around diligently for health care and avoiding unnecessary treatment – the reality is a bit different. Many of our Colorado clients who enroll in an HDHP do not set up an HSA […]
Number Of Underinsureds Rising Rapidly
While an employee at a big company might consider $500 to be a high deductible, the majority of our individual health insurance clients in Colorado choose deductibles between $2000 and $5000, in order to keep the premiums down. That same employee at the big company may only be paying a few dollars a week for health insurance (with the employer paying […]
High Deductible Health Plans Are Popular In Colorado
A study conducted by America’s Health Insurance Plans (AHIP) shows that Colorado ranks fifth in the nation for health savings account and high deductible health plan membership as a percentage of the state’s total private health insurance population […]
HR5719 Could Get The Presidential Axe
HR5719 is facing a potential veto from the White House because of the HSA limitations proposed in the bill. At the Colorado Health Insurance Insider, we feel that the proposal in HR5719 to require that HSA participants provide proof of medical expenses would bog down the relative simplicity that HSAs currently provide. Evolution Benefits, the… Read more about HR5719 Could Get The Presidential Axe
Surprise Medical Bill from Out-of-Network DME Provider
We got a bill last week for $397 from the company that provided Jay’s crutches, knee brace, and ice machine when he had knee surgery in January. The surgery was done at the Vail Valley Medical Center in Vail, Colorado, by Dr. Steadman; both the hospital and the doctor are on our Humana PPO network…. Read more about Surprise Medical Bill from Out-of-Network DME Provider
Evolution Benefits Withdraws Support for HR5719
In a follow-up to our article on Wednesday, Evolution Benefits has sent a letter to Congress asking the House Ways and Means Committee to withdraw their proposal. View the Evolution Benefits letter
Bureaucracy Wielding Its Sword Over The HSA
The House Ways and Means Committee met today to discuss HR 5719 – the “Taxpayer Assistance and Simplification Act of 2008” (I love when they come up with names like that – it sounds like the whole thing will be warm and fuzzy and make life easier for all of us). One of the many… Read more about Bureaucracy Wielding Its Sword Over The HSA
Capping Health Insurance Premiums
David Williams at the Health Business Blog has written a post about Clinton’s plan to cap health insurance premiums at 5% – 10% of a family’s income. With a US median income of nearly $50,000/year, health insurance premiums would be somewhere in the range of $2500 – $5000/year, which as Mr. Williams points out, doesn’t… Read more about Capping Health Insurance Premiums
Physical Therapy Expenses
We’ve started getting EOBs for Jay’s knee surgery, and I’m finding it very interesting to see first-hand what all these medical procedures cost. The anesthesia was billed at $1155, (our Humana network price was $748) and the initial physical therapy that was done on the first day after the surgery was billed at $637 (reduced… Read more about Physical Therapy Expenses
HSAs Only Help If You Fund Them
Jay and I are in Vail, Colorado this week, getting his knee fixed at the Steadman|Hawkins clinic at Vail Valley Medical Center. The surgery on Monday went great – far better than we had expected. His physical therapy is going very well too – they’re seeing him twice a day this week and I’m going… Read more about HSAs Only Help If You Fund Them
Anthem Blue Cross Blue Shield Product Enhancements
Anthem Blue Cross Blue Shield has long been a major player in the Colorado health insurance market. Brokers and clients alike tend to feel comfortable with Anthem Blue Cross, due in large part to their stability and network size. Yesterday I met with our Anthem Blue Cross representatives, and discussed some of their product enhancements…. Read more about Anthem Blue Cross Blue Shield Product Enhancements
HSAs Featured on the Cav
One of my favorite bloggers, Julie Ferguson of the Workers Comp Insider, hosted this weeks Cavalcade of Risk. Along with Louise’s recent article about how HSAs aren’t yet encouraging a true free market health care system, there were many other good HSA related articles. First off, Joe Paduda of Managed Care Matters explains the inaccuracy… Read more about HSAs Featured on the Cav
Vaccines A Personal Choice
This was an accidental “double post” on the Colorado Health Insurance Insider. View the original post “Vaccines a Personal Choice.”
Health Insurance Choices – Emotions Versus Reason
Amy Gillentine has written an article for the Colorado Springs Business Journal that points out many of the current concerns and confusion surrounding our health care system. When it comes to open enrollment for employer-sponsored plans, she sums it up clearly: Choosing among options for health insurance is often an emotional — rather than practical… Read more about Health Insurance Choices – Emotions Versus Reason