Category Archives: Health Insurance

Health Insurance Catgories

What to Do If You Can’t Afford ObamaCare–or simply plan to refuse?

First, from the “street talk” I hear, you are not alone. The “talk” I hear seems to be split pretty evenly between those who simply can not afford the new plans, and those who for various personal grounds say words I can’t print here and still be polite and politically correct.

In both cases, I understand. There are those people who prior to Obamacare were living pay day to pay day and just barely making ends meet.. and that’s even working two jobs.

Ideally you recognize that it’s important to have some health care coverage, if nothing else but to give yourself some choices and options.  In a true emergency, very few hospitals or providers will let you die. A major hospital, particularly if it’s a “for profit” hospital and not a city hospital make stabilize you and transfer you to the local or closest hospital that takes those with no insurance or funds… but you probably will not be left to die.

If you have another medical problem that is not life threatening such as a bad earache, a sinus infection, or a broken arm, you may be turned away from certain private urgent care centers unless you can show a way to pay… in which case you have to find transportation to the closet place that takes “charity” cases.. and I hate to use that word.

To prevent that, you should have SOME kind of insurance or way to pay.

You also want to stay clean with the govt.

So step one, y ou decide in this year to eat the fine. It’s rather minimal, and a heck of a lot less than the cost of the insurance… but make sure you have checked out the bronze plans and your possible indemnity before you jump to a conclusion.

If after your check out, you find that you just can’t afford the metal Obamacare plan, you still have a couple options, generally in the type of plans known as Indemnity Plans. These do not qualify for major medical plans under Obamacare, but you will get help, and some of it is significant.  You may not care that you don’t have maternity or have a $2Mil cap, and you are not too concerned about not having pre existing coverage.

One of the plans we could show you and quote is the Assurant Health Access plan, and then there are the plans by FL Home as per this LINK. 

If you open it and it is vertical, your browser should have an option to rotate clockwise.

Rather than go without any help and losing all choices and pride, consider this as an option.

Contact us if you’d like further help. Joe, 321 821 5394

HOME

Senior Strategies for Paying the Least In Health Insurance and Health Costs

This discussion is offered primarily for those people who have tentatively made the decision that a Medicare supplement plan is their best choice, and that in turn is based on the knowledge that the total out of pocket in a bad year medically would be less with a supplement compared to a Medicare Advantage program, or they simply want the flexibility, and their research has shown that over the years the price cost increases of the two types of plans have been significantly less with the Med Sup. Of course, these people recognize there is an up front cost but they are willing to pay for it and can afford it.

For this group of people the primary question is: “Is there a way to minimize costs with a Medigap Plan?” and the answer is yes. You CAN save substantially, and about the only cost will be a little inconvenience of having two insurance bills and firms to contend with.

Many Medicare Supplement companies–but not all–offer what is known as a  HiDeductible Plan F, or also known as a “PlanF +”. As is true with all other letter plans, the benefits are identical across the board for all companies offering this plan.  But we should mention that a great number of even major companies such as Untied Health (also known as the AARP Plan) do not offer it, and if you have a relationship with a non offering company agent, you may otherwise never learn of it. But today you are lucky, and you are learning as you are reading this.

The Plan F+, like standard Plan Fs covers 100% but AFTER the deductible is met, and that deductible runs around $2100.

Whoa!   Your thoughts might be focusing on that number. STOP right now!  First, the cost of the F + is in general about 1/3rd of the cost of the standard F!

Now think for a moment where are you most likely to get hit with a major bill at one time? One that might hurt.. if you did not bank the savings.  HOSPITAL ADMISSION, right?  Regular Part A deductibles apply and you just got admitted.  Now we enter the other part of the plan.

We take a small part of the savings and purchase a Deductible Saver and this link gives you some typical rates.  Add the two and you are still saving money. Alot of money. That leaves your doctor or Part B costs to be covered before you hit the deductible. You have just one “chunk” to “eat” and that’s the annual $147 Part B deductible.  You probably covered that with the first month’s plan prem difference.  Now the rest comes in small bites of your 20%s until you hit the deductible.. if you do.  If you had a healthy year, you really made out.

In fact, you’ve made out to the point  we’d suggest you now can add in an inexpensive cancer plan, probably a good dental plan, and other things you otherwise could not have afforded.

While  this discussion is a little general, contact us for an appointment to provide specific quotes on the High F for you (varies with age, location, and smoking status). If you are beyond the eligibility age for the Deductible Saver, we also have other plans that can help you with that deductible. In fact, we should compare them because the Hi F plan is like “renting” and if you did not have a claim or use that month, the money is gone. With the alternative, you put money in and if you don’t have a claim where you need to draw on the money, you get to keep it. It may take a few months to build up to the $1000 for that Part A, so you would be at risk during that time… but if you went on a couple years, your money is there, will be safe from any losses, and will earn interest.

Call, email, or reach out to us for YOUR quote, and lets compare this to the other options.

CONGRATULATIONS! You have just mastered a new skill in saving money on your health care expenses.

HOME

Strategies for Paying the Least In Health Insurance

In our last leech-insurance site and on the site “How To Buy Private Health Insurance” we provided information valuable at the time, but now rather obsolete. The principle is the same.. don’t pay for something that you are very unlikely to use. An example was to pay monthly for substantially reduced doctor office visits, when statistically you are unlikely to use more than 4 or 5 a year.  The same idea is why pay a lot more for a low deductible when you are not likely to have a major medical expense. The largest expenses come from hospital stays, and again, statistically, the average person only has a hospital stay every 4.1 years.

Of course, averages are just that, and there are people more likely to use services and some less likely, and so it’s a “play the risk or numbers game”… but don’t we do that every day any way?   If so, we should make the numbers work for us.

Now in the new Obamacare structure, we have a far lower choice range, but the old rules still apply… the less risk we take (lower deductibles, lower co pays), the more we pay in monthly premeums, and conversely.. the higher we set our deductibles and copays, the less we pay.

Before when we could choose a very high deductible… around $10,000 and choose a 50-50 copay, we could save a ton of money.  We could logically conclude that the highest probability of major expenses would come from a critical illness or an accident,  So we’d take the high deductible but back this up with a couple of ancillalry products or riders. One of them was a critical illness plan that upon first diagnosis of a critical illness would pay us a lump sum of cash… enough to both cover the deductible and provide some living expenses during the recovery period.  Then we also added in an good accident plan that left us responsible for only the first $100 and paid up to $5000, and this made sense.  The majority of accidents are handled for under that amount, and larger benefits were available.

Today, the same strategy applies, only the product mixes are a bit different.

What makes the most sense is to pay the least amount monthly for your insurance, which is to say, purchase the Bronze plan with the highest deductible and copay.  Now get your pencil out and note the difference between this and the Platinum plan or Gold plan, and you will see substantial differences in costs.

Take that difference, or a small part of it and purchase as second plan which is a supplement plan covering those doctor visits (which in Bronze will not be covered until the deductible is met, other than for the mandatory and prepaid wellness visit or physical), and this plan will cover, on an indemnity basis the majority of the more routine costs. THIS LINKwill take you to a company’s plans that we recommend as a first choice, and in fact, for most people, the best choice. (Link shows Fla rates, call for rates in other states). We must say however that there is one “catch”; that catch is to qualify for this plan,  the principal on the plan must be working at least 30 hours per week as evidence of being healthy enough for insurability. Also, pre existing conditions are not covered under this plan for a year in most cases.. but with ObamaCare, it doesn’t matter.

This link gives an expanded perspective on the logic just discussed.

The referenced plan is available from us at Leech Insurance and you can call for enrollment help.. prices are shown on the attached sheet and if the principal is working at least 30 hours per week at the time of enrollment, issue is guaranteed.  If not working, call any way as there are still options available.