Safeguard Benefits and Insurance Services

Health Insurance - UPDATE: Anthem Blue Cross Rate Increase

Misty Lohe — Wed, 17 Feb 2010 20:46:27 +0000

Most of us have heard the media coverage surrounding Anthem Blue Cross’ most recent rate increases for some of their individual and family plans. The state insurance commissioner has ordered an investigation of these rate increases and therefore Anthem Blue Cross has postponed the effective date of such increases — no longer March 1st, now these increases are tentatively scheduled for May 1st. This gives time for the investigation, but equally important — this allows plan members extra time to research alternate options.

I have no idea what the outcome of this investigation will bring, and moreover, no idea what the results will mean for plan members. However, understanding the much HIGHER price of medical care and knowing the outflow of money these health insurance companies pour into paying for such services on behalf of their members, I’m not sure this investigation will change the higher price tag for our insurance. Now is the time to research option and do some looking into alternate plan options that may suit your needs just as well and be a bit gentler on your wallet.

Please utilize our free quoting system to shop plans for yourself and your family. Get your personalized health insurance quote by Clicking HERE!

Should you have questions or wish assistance with plan details and making choices, please don’t hesitate to contact us. Safeguard is here to help! (925) 627-1800 or www.safeguardfinancial.com

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Health Insurance Tip #7 - Shop Around and Know What’s Out There.

Misty Lohe — Mon, 08 Feb 2010 20:50:24 +0000

Why such increases? In a time when record numbers of people are out of work, some still losing jobs, and those of us lucky enough to have maintained our jobs/businesses, most of us certainly not making more money than before… why such HUGE increases? State commissioner Poizner is asking the same questions.

What many may not know — that the health insurance companies are limited in profits. They must contribute at least 70 cents of every dollar (70%) in premiums to actual costs for medical care. Essentially, these rules should regulate rates a bit, but increases still happen all too often and rate increases lately can really affect those paying the premiums.

Commissioner Poizner says, “As a consumer you need to shop around. A different provider may prove to be a better value for a particular individual or family’s needs, and all of them are looking for new customers. I encourage consumers who are not happy with their rates, co-pays, benefits or service to look at other options.”

Exactly! We do need to shop around and this is exactly how I can help you and how I help all my clients! Safeguard has access to quote all carriers, all plans, and therefore can provide you with a comprehensive list of options. Rather than you having to contact each one separately, why not save the time and speak with an expert who knows what is offered and how to get you the best deal?!

For those who prefer, we have a free quoting link on our website that will compile a complete list of options for you. GET YOUR FREE HEALTH INSURANCE QUOTE HERE!

Call Safeguard today! (925) 627-1800 or visit us online at www.safegaurdfinancial.com

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Health Insurance Tip #6 — Between jobs? Need help purchasing a short term health plan.

Misty Lohe — Wed, 13 Jan 2010 20:30:16 +0000

Many of us know more and more people who are looking for temporary medical coverage these days. By temporary and short term, we mean anywhere from a few days to months (up to 1 year.) People in need of these short term options might be between jobs or maybe they have had work hours reduced so they are no longer eligible for group benefits offered by their employer.

Either case, these people and their families are often in search of economical solutions for temporary medical coverage. Ultimately these folks are probably hoping to find a job that offers medical benefits or, will want to enroll in a better plan once income becomes a little more steady. Nonetheless, many people are in a situation where they need to locate inexpensive medical coverage for the catastrophic “what if’s” so they do not leave their families vulnerable during a time of transition.

There are several carriers that offer short term plans and each plan comes with different benefits and, of course, a different premium. There is probably an option that adequately suits each unique situation and that’s where we can help! At Safeguard, we take the time to get to know your situation, your needs, and try our best to make plan recommendations that suit these needs and your budget, BEST.

Keep in mind, short term medical plans aren’t for everyone. They have very few “bells and whistles” but the price is usually right for something that is only needed temporarily. Our firm has the ability to offer all options and if a short term plan doesn’t seem to be the best fit for you and your family, then we can help you to find a better solution.

Please give us a call if we can be of assistance to you or someone you know, (925) 627-1800

Either case, these poeple and their families are often in search of economical solutions for temporary medical coverage. Ultimately these folks are probably hoping to find a job that offers medical benefits or, will want to enroll in a better plan once income becomes a little more steady. Nonetheless, many people are in a situation where they need to locate inexpensive medical coverage for the catestrophic “what if’s” so they do not leave their families vulnerable during a time of transition.

There are several carriers that offer short term plans and each plan comes with differnt benefits and, of course, a different premium. There is probably an option that adequately suits each unique situation and that’s where we can help! At Safeguard, we take the time to get to know your situation, your needs, and try our best to make plan recommendations that suit these needs and your budget, BEST.

Keep in mind, short term medical plans aren’t for everyone. They have very few “bells and whistles” but the price is usually right for something that is only needed temporarily. Our firm has the abiltiy to offer all options and if a short term plan doesn’t seem to be the best fit for you and your family, then we can help you to find a better solution.

Please give us a call if we can be of assistance to you or someone you know, (925) 627-1800

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Health Insurance Tip #5 - Traveling away from home? Be sure to purchase a travel medical plan!

Misty Lohe — Thu, 31 Dec 2009 21:02:32 +0000

Many people don’t realize how inexpensive purchasing a travel medical plan can be. We are talking pennies per day in many cases to cover your medical expenses in the event of illness or injury while away from home. These travel plans are available to US citizens traveling within the US or US citizens visiting countries abroad. There are also travel medical plans specifically suited for non-US citizens who are planning stays within the United States for a period of time - 2 days up to 1 year or more.

Many countries actually require proof of a travel medical plan in place in order to issue certain travel visas. Another population of poeple who may not realize that travel medical plans may be a must for them — cruisers. People who are vacationing by way of a cruise might be surpised to know that their current medical plan may not cover expenses for medical care obtained while on the boat and bills may also add up quickly should they need to be evacuated to a nearby hospital for additional care. Because cruises often travel in international waters and even for the reason that the “location” of care can be a very “gray,” medical companies aren’t always forthcoming with paying these expenses. Might these expenses be covered by your existing medical plan? Maybe. But, why take the gamble when it comes to your health and your savings account? Literally, a couple of dollars can purchase $1 million of medical coverage…and, for the peace of mind and potential savings should you need to use it, I would say, these travel medical plans are almost always a good investment.

Not everybody knows that these plans exist nor do they always know what plan will suit their needs best. It’s a very good idea to at least learn about these plans and options and/or consult a health insurance agent so you can make an informed decision whether to purchase, or not to purchase this type of insurance coverage before your next trip. Bon voyage!!!

If Safeguard can be of assistance to you or someone you know, please don’t hesitate to contact us at (925) 627-1800 or online at: www.safeguardfinancial.com

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Health Insurance FAQ #7 - The ABC’s of Medicare.

Misty Lohe — Wed, 09 Dec 2009 22:11:25 +0000

Really…when I say “ABC’s” of Medicare, I really mean it. It seems, in the process of simplifying Medicare and supplemental plan choices, we have somehow made things much more complicated. I am going to try to simplify things here for you, but keep in mind, this is a simple overview so there are some details that I will not touch on that may be important to know in your specific situation. Should you have questions, please feel free to call us at (925) 627-1800 or visit the social security website at www.ssa.gov.

Though there are some exceptions for younger Medicare enrollees, most people become eligible for Medicare at age 65. The “original” Medicare programs are labeled Part A and Part B. Part A being a free program that is designed to cover the more “catastrophic” (hospital) care. Part B, on the other hand, comes with a small fee, and tends to cover the more general care and some preventive services. The fee for enrolling in Part B amounts to approximately $96.40 per month.

Then, we have Medicare supplement plans that are offered through several different health insurance companies. These supplement plans, for the most part, carry the same “names” regardless of carrier. These plans are also labeled by letters, generally A-K. Each of the plans (A-K) are intended to be identical, regardless of the carrier offering the plan, but the premiums do vary by carrier. Each of these plans offers coverage for something that Part A and/or Part B does not cover — for instance: deductibles, fees in excess of what is permitted by part A/B for certain services, etc. Some supplement plans offer little coverage while others will cover 100% of what Part A and/or Part B will not cover for permitted care/services.

There are also Medicare advantage plans (a different type of “supplemental” plan) that are offered by many carriers, however, we will not go into much detail about these plans here. At least, not yet.

And, then…we are brought to Part D - often referred to as prescription drug plans (PDP.) Neither part A nor Part B cover fees for prescriptions drugs. The supplement plan you may have chosen to enroll in that is supposed to cover 100% of what Part A and Part B won’t, doesn’t cover prescriptions drugs. Because prescription drugs are not a covered benefit under any of these plans, there is a need for an additional plan option — a prescription drug plan. The details of these PDPs are less streamlined than the supplement plans since each carrier may have different names for the Part D plans and each plan can offer different benefit coverage.

You may want to start saving up to treat yourself to a nice, long vacation after your 65th birthday because sorting through all the Medicare plan options and enrolling in the plans that best suit your needs can be a real tedious task! You may need the R&R to recover from the process.

If Safeguard can help you or someone you know, please feel free to contact us at (925) 627-1800.

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Health Insurance FAQ #6 - Will my health insurance cover me while traveling?

Misty Lohe — Mon, 30 Nov 2009 21:50:32 +0000

It is holiday season! Many of us will be hitting the road to visit family and friends who live long distances from us and the big question is: If I get sick while away from home, will my insurance cover expenses for my care? Without more details, I can’t be 100% accurate with my answer, but the answer may be NO. It all depends on where you are, what you need treatment for and what type of insurance you carry. Many insurance plans will cover the cost for treatment of LIFE THREATNING emergencies outside of your home neighborhood and even your home state — but sometimes not if you are out of the country. Other insurance plans may cover more minor illnesses and injuries while you are away (typically only within the U.S.) as long as you visit a doctor they have contracted with. The moral of this story is — be prepared. Know your coverage and supplement with additional insurance should you need to. Travel insurance plans are short term (a couple of days to 12+ months,) very inexpensive, and a necessity for those wanting to have all their bases covered. There are different plans depending on your circumstance (whether traveling in or out of the U.S.) and there are even travel health plans for your family and friends planning to visit the U.S. from their home countries. By inexpensive, I mean – you may pay more for a meal in the airport or to check your bags on a flight than you would a travel medical plan.

If Safeguard can help you, please call us at (925) 627-1800.

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Health Insurance FAQ #5 - Cal COBRA Subsidy, Who Pays What?

Misty Lohe — Wed, 18 Nov 2009 21:45:12 +0000

There has been a lot of talk about the COBRA subsidies that seemed to only affect the ”big guys” — large companies, who arguably, could afford the extra cost and could appreciate the write off. This is the COBRA premium reduction that required employers to pick up 65% of the COBRA premiums, allowing (eligible) employees to continue their medical benefits by paying only 35% of the total COBRA premium.

Now, there is a Cal COBRA subsidy that affects the smaller companies in California. For those employers who provide health benefits to fewer than 20 employees, involuntary layoffs and terminations could be hitting the pocketbook hard! This same split is now in place for Cal COBRA eligible employees and smaller companies don’t always have the deep pockets that the bigger companies have. When it comes to the Cal COBRA subsidy, who is on the on the hook for the 65% of Cal COBRA premiums? The answer may surprise you! While most posts and articles claim that the employer will be picking up the tab for this 65% of premium, in actuality, the health insurance companies may be lending a helping hand.

There is a lot at stake when “messing” with COBRA/Cal COBRA rules and guidelines, and by this I mean - hefty fines!!! If you are an employer, you will want to be EXTRA sure that you are dotting all of the “i’s” and crossing all of the “t’s” when it comes to your COBRA responsibilities, but don’t panic about the 65%…it might not be you paying.

For more information about COBRA rules and guidelines please visit the department of treasury website at www.dot.gov or your state’s department of insurance website.

If Safeguard can help you with your insurance needs, please contact us at (925) 627-1800 or online at www.safeguardfinancial.com

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Health Insurance FAQ #4 - How Much Will Premiums Increase in 2010?

Misty Lohe — Wed, 11 Nov 2009 19:35:55 +0000

It isn’t easy to give a quick answer to the question I get most frequently these days - How much of a premium increase am I looking at in 2010? The real answer is, every carrier, every plan, each age category, and all counties/zip codes have their own rating criteria and therefore different rate changes. With all these factors in the mix, there is no perfect answer to this question unless we have your specific plan details in front of us and have the time to do a little bit of research. The truth is, your carrier will send you warning of your rate increase and as I blogged about before, you should receive this info in plenty of time to make a plan change should you wish to dodge the higher premiums this time around.

Being that all carriers make different rate decisions, I can only give ballpark guesses at what rate changes you might see. Oftentimes, carriers fall in line with the increases they see made by other companies so it could be fair to say plan on rate increases anywhere from 2%-15% in the coming year. If you recall from an earlier post — don’t forget to account for age increases too. These rate increases I am speaking of are simply higher rates for the plans, period. Taking into consideration any big birthdays you have coming up, you will have to do on your own.

For illustrative and informational purposes only, here are some numbers that were published by Blue Shield relating to the average percent increase for California small group plans in 2010.

HMO and POS plans increasing approx 4.5%

PPO (non-HSA-compatible) increasing approximately 2.2%

PPO (HSA-compatible) increasing approximately 15%

If we can help answer questions or can be of assistance as you shop and choose your next health plan, please give us a call (925) 627-1800

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Health Insurance FAQ #3 - Low Cost Health Plan Options? Do they exist?

Misty Lohe — Wed, 04 Nov 2009 21:00:28 +0000

With health insurance premiums rising as much and as frequently as they have recently, finding ways to decrease health care costs and ultimately decrease health insurance premiums has become a top priority for many people, families, and businesses. As much as we love to hate the health insurance companies, they have answered the call for lower cost health plan options. Many companies have introduced new plans that achieve the lower premium goal but be careful that you know what you are getting and ultimately, what might be missing from these plans. Obviously, in trimming the costs of these new plans, there has to be some change to the benefits offered. In many cases, plans change by only 1 factor (most commonly, increased deductibles) while in other cases, the plans may have been trimmed and/or padded slightly in several different benefit areas to package a plan that suits the needs, requests and preferences of the many who have spoken up. Benefits to watch: maternity, prescriptions and doctor office visits. While these plans can save you a LOT of money, if you need the benefits and services that have been limited or eliminated, you might be best to keep shopping.

Because of higher health insurance premiums, high deductible health plans (HDHP) and HSA-compatible plans have become very popular, and quite honestly, more the “norm” than ever before. The days of no deductible or even $250-$500 deductibles are nearly extinct. We are seeing that even long time HMO plan members are looking into deductible plans to save their premium dollars.

Saving money is the “name of the game” for most people right now. And, there are a lot of ways to achieve this with a simple change of your health plan. Though some do choose the higher deductible options, you don’t have to face a $10,000+ deductible to save money on your monthly medical premiums. There are many new and improved plans that may surprise you. You just might find that there is a plan out there that covers all the things you want and need while keeping a manageable deductible. How does a $400, $900, or $2,900 deductible sound? Simple changes can save you significant amounts of money.

Click Here to run a free quote to see if there are better options out there for you!

If Safeguard can assist you with your health insurance needs, please don’t hesitate to contact us at (925) 627-1800

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Health Insurance - Hold on to your wallet, January is coming

Misty Lohe — Wed, 28 Oct 2009 21:40:53 +0000

While shopping for Halloween candy and last minute costume necessities, we have all become aware that holiday decor and those seasonal song favorites are quickly spreading to every isle of our local store. Before we can say “trick or treat” the holidays will have passed and we will be celebrating the arrival of 2010! With the arrival of a new year, we are often forced to revisit our health insurance once again. Hopefully not because the whole family has caught a flu bug, but for something arguably as dreadful — premium increases. You may be one of the lucky ones that will not get a “happy new year” rate increase, but for many of us, we will be digging a little deeper into our pocket books come January to cover the increased premium of our current health plan. Watch your mailbox and pay special attention to any notices from your health insurance carrier. They will let you know about proposed rate increases and they very well may be notifying you very soon to give you time to make a change, should you wish to make a plan change and save the extra premium dollars. Now is the time to do this research and to put these changes in place since we all know, November and December are probably the busiest months of the entire year! If we can help, call us at (925) 627-1800.

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