Archive for high deductible plans

Obamacare – Government’s version of an arranged marriage?

23/03/2010 the HSA king 5 comments

You know what they say about an arranged marriage? Don’t worry – you’ll learn to like it.

Interestingly enough, that is now Obama/Pelosi’s message: Don’t worry America, you’ll learn to like it.

What kind of fools do they take us for?

The whole arranged marriage scenario presupposes that we didn’t know what we were getting in advance. But we did. The American people are surprisingly informed about this humongous piece of historical legislation that will impact virtually everyone’s lives.

Here’s what I have been able to ascertain so far.

Poor people – love it.
Well to do folks – hate it.
Everyone else – not so sure. If they have been denied coverage in the past, they generally like it – until they see the premiums. One of these days, a subsidy will kick in – but it will not cover as much as an employer would subsidize. In general, I think this category of people never will be happy with the cost/benefit analysis. And of course, if they are “well to do” by Gov’t standards ($88k/year) they won’t get any subsidy at all – only higher taxes and higher premiums.

At this point, my recommendation to people is simple and straightforward – get a health savings account plan in place ASAP. HSA plans were saved! They are part of the bill – they will live forever. There is no question – they always will be the lowest priced option available to anyone over age 30. The only question remaining is this – why wait? Premiums will only get higher – trust me.

I invite you to use our quote engine to get quotes for high deductible plans that are compatible with HSA savings accounts. Don’t hesitate to ask if you have any questions.

Health care reform, high deductible plans ,

Beware of LIMITED BENEFIT health plans

08/09/2008 the HSA king No comments

More and more Americans are opting for “bare bones” coverage to insure their health.  Sometimes they know what they’re buying, but often times they don’t.

In an article published by the Wall Street Journal, the paper makes the case that many consumers buying low end coverage are duped into buying those limited benefit plans by salespeople whose smooth talking goes a long way to convincing people to do something that is not in their best interest.  The article focuses specifically on sales tactics from MEGA Life and NASE (national association for the self employed), two companies marketing health plans under the umbrella of “HealthMarkets” based out of Oklahoma City.

According to the article, consumers “thought they were buying full insurance for their families but in reality they were buying far from that.” Indeed, in some instances, hospital benefits were limited to $300 a day.

Click here for a link to the story from the WSJ

COMMENTS:
Nothing new here folks–same old warnings that professional insurance brokers (such as myself) have been giving to people for years. In fact, the article’s author (a journalist) actually states the correct solution to the problem of high premiums:

Rather than opting for a limited-benefit plan, some families should consider a comprehensive plan with a high deductible, which may not be much more expensive, or a “catastrophic” medical plan.

Bingo!!


There ya go folks. If you’re not inclined to believe someone such as myself (with almost 30 years experience brokering health plans to small business owners and individuals) perhaps you’ll believe a journalist. (dripping sarcasm here, of course)

General, high deductible plans, Individual health insurance ,
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