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Health

CMS Announces the Medicare Part D Deductibles and Co-Insurance Limits for 2014

On Friday, February 15, 2013, CMS (Centers for Medicare and Medicaid Services) released the 2014 Medicare Part D deductibles and co-insurance limits for 2014. This was a part of their “2014 Advance Call Letter” which gives Medicare Advantage Plans and Medicare Part D plans advance notice of funding for calendar year 2014 so that they can start formulating their bids …

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Ancillary Products: Could They Be Your New Bread and Butter?

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Most medical insurance brokers would agree that since the introduction of The Patient Protection and Affordable Care Act (PPACA), the past several years can best be described as being strapped-in on a winding roller coaster that has continuous ups and downs, stomach-dropping plummets and several upside-down loops thrown into the mix. Now that the ride has stopped, or at least …

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The Advantages and Disadvantages of a Health Savings Account

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A savings account can be money set aside for a rainy day, a new home or even just a sense of security.  But what is a Health Savings Account? In 2012, individuals are full of questions about health care. For example, what is this new health care reform bill? Who will it impact and how much? Because many of your …

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A New Kind of Insurance Could Expand the LTC Marketplace

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For demographic reasons, growth prospects for the long-term care insurance (LCTi) market remain attractive.  Agent frustrations, however, are mounting with ever tougher underwriting standards, longer underwriting turnaround times and rising premiums.  The result is a growing population of consumers who either want LCTi but don’t qualify, or want it but can’t afford it.  Fortunately, a metamorphosis of sorts is taking …

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Insurance for Critical Times

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Consider for a moment the following statistics: Every 21 seconds, someone in the U.S. is diagnosed with cancer.1 Every 25 seconds, someone in the U.S. will have a coronary event, and about every minute someone will die from one.2 Every 40 seconds, someone in the U.S. suffers a stroke.2   All of us know someone who has been touched by …

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How HRAs Compare to HSAs and Why HRAs Are Usually Better for Employers

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The swell of health insurance acronyms being thrown at your clients on a given day must surely be overwhelming. HRA, PRA, HSA, ACA, TPA, FSA… it’s enough to confuse even an industry buff, let alone an employer trying to navigate the best benefits options for her business. Two of the most frequently confused health benefits options are Health Reimbursement Arrangements …

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PPACA and the Technology to Help Brokers Thrive

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Healthcare reform continues to offer a few sobering facts for brokers. The 80 percent minimum medical loss ratio– for individual and small group insurers–will continue to squeeze commissions, and advances now are a thing of the past, while the workload is as high as it’s ever been. New sales distribution channels, including private exchanges and federally-mandated state exchanges, provide consumers …

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Place Over 95% of Your Cases Regardless of Age or Health

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Many agents walk away from potential sales because they think the client is too sick or too old to obtain coverage. Years ago, there was a true impaired risk market where companies such as US Life and State Life would underwrite cases using different criteria and many times accepted risks that other companies would not. That is no longer the …

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Growing Your Business with Dental and Vision Plans

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As insurance professionals we have for some time had to adapt to the rapid changes that face our industry. Agents are forced to deal with the major cuts in health commissions in both the underage and overage markets, major structural changes to core plans, and the fear created by health care reform. As a large health insurance brokerage operation, never …

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Insuring the Parents of Children with Special Needs

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According to the most recent survey conducted by the U.S. Department of Health and Human Services, 13.9 % of children in the U.S have special health care needs. These needs vary and can include a range of conditions including chronic physical, developmental, behavioral, or emotional challenges.  The special needs of these children typically require health and related services for an …

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