Private Health Insurance in 2015- What to Expect and How to Position Yourself NOW!

Many sources including Kiplinger News is predicting some hefty increases in 2015 for private insurance.  It's expected to see rates rise between 7 to 12%. 

If you are employed; you too will face increases and with more employers expected to redesign plans and shift more of the cost of the premium to employees.  You can also expect to see higher co pays, deductibles and caps for out of pocket maximums.  

Under the ACA (Obamacare) rules in 2015 the maximum out of pocket for individuals can be $6,600 and $13,200 for a family.  

Other things to expect include smaller provider networks, less hospital choice and more managed care of chronic diseases such as diabetes, asthma and heart disease.  

Expect more programs geared to reduce smoking, weight reduction and providing a reward for compliance with a program.  

All of this is not new news; the cost of healthcare is increasing even more due to the administrative burden of healthcare reform; so now more than ever it is prudent to review your current lifestyle and implement your own changes to reduce the risk of needing healthcare thus avoiding the whole expense.  

So what are some things you can do?  

Simple daily changes; I like to call these "trades": 

stop drinking soda, drink water

stop eating fast food, cut up veggies and pack and snack

stop skipping meals, start using a healthy protein shake such as from Arbonne

stop parking close; park far away and walk and take steps not the elevator when possible

To learn more tips and ways to "make trades" contact me for a web presentation on trades to incorporate over 30 days that result in big improvements!  

Obamacare numbers- truth or fiction?

The recent celebration associated with the number of Americans who enrolled thru the federal exchange program (Obamacare) is in part a victory right?  Well, let's look at the numbers.

About 5 million of the 7.1 million were individuals who had a individual health plan and simply were forced to secure a new one thru the exchange.  So while about 2.1 million new sign up's occurred that is less than 20% of who could have enrolled.  Plus some folks are mixing apples and oranges by saying we also have 3 million new sign up's for Medicaid so the victory lap is now based on 10.1 million.

First, Medicaid isn't individual health insurance so let's keep the two distinct for celebrations.

We need to get more signed up; it's going to boil down to economics.  The insurance industry developed rates based on a boatload of assumptions and the bottom line is if we don't get more signed up and paying a premium we all lose!

Second, I seriously wonder if the current framework that existed to enroll folks (professional insurance agents with training and skin in the game) didn't provide the best vehicle to achieve the numbers we wanted to see.  Who better than a agent who relies upon commission to help sign up those without insurance.  OK, I'll stop my bitter rant.

The point is we may have built a stairway to nowhere and we may find the system produces more expense to run, manage and doesn't produce better results.  So should we keep subsidizing a losing battle?  If we look at it as any business person should; the answer is NO.

Ok, you are asking yourself- "which side is she on"??   Well, I personally believe every American deserves the right of access to healthcare and we should eliminate pre ex/plan maximums that hurt innocent people who simply get sick but I also personally believe we created a nightmare and we should look at the goal and fix the system to still reach the goal.

What do you think?

Medicare in 2015?

What's in store for those on a Medicare Advantage Plan in 2015?

Dollars are expected to dwindle from CMS to these plans.  In fact $716 Billion is part of the cuts to Medicare because of ACA (Obamacare).  Medicare Advantage (MA) plans will not be the only thing facing the reduced funding over the 10 year period.  Expect to see funding reduced to hospitals, home healthcare, skilled nursing and hospice.

What will carriers who offer MA plans do?  Those enrolled will likely see more expensive MA plans.  It may show up as higher co pays, higher deductibles, higher out of pocket maximums, more coinsurance, higher premiums and the dreaded smaller provider network.  Sounds a lot like what employers have to do every 2-3 years to afford to offer healthcare to their workforce right?

So what are some strategies you can use if you are in an MA plan today?

Stay turned to the next blog