It's NOT Open Enrollment time!

Well, it may be for Medicare (Oct. 15th - Dec. 7th 2012), but did you know there is now Open Enrollment for Individual Health insurance?  It's been in effect in MA for over a year, yet I am finding that even people in related industries are not aware. 

This is particularly upsetting to people who go to get health insurance, and they can't.  This can happen to a 26-year-old, who get's kicked off his parents' plan, and is counting on new employment benefits that have taken more than 63 days to come through.

I get a lot of, "this is Massachusetts - I thought anyone can get health insurance".  Well, that's basically true, but now, not at any time.  As talked about in my previous blog, if you don't have it now, you may have to way until July 1 to enroll for an August 1 start date.

As discussed earlier, there are exceptions, and in some cases, alternatives, so if you need insurance now, please DO give me a call.

I try to spread the word, and I think that awareness will increase when people's individual nightmares come out, but if you want to prevent people you care about from being caught in a situation where they are exposed, and maybe subject to astronomical health care bills, please help spread the word.

It’s Open Enrollment Time!

There is a lot going on with health insurance right now.  Most importantly for individuals who can’t get insurance through work, it’s Open Enrollment time.  This period goes from July 1^st through August 15^th.   After the 15^th, and individual won’t be able to get insurance until July 1^st of 2013!  There are exceptions, i.e. if a person has lost their insurance within the last 63 days, and has a letter to prove it.  

A lot of people say to me, “But wait, I thought you had to have insurance, but now they are saying you can only get it once a year?”  I say, yes, that’s right, they are trying to encourage people to having insurance all the time, not just when they need it.  That is a loss for the insurers and the cost gets passed on to everyone else.  

So, you may not be able to get insurance, and then get fined for not having it in the form of a tax penalty, but to me, the bigger concern is the huge potential cost to the individual if a major medical incident happens, and they don’t have insurance.  It can destroy a family financially. 

I believe there are a lot of people out there who are still completely unaware of the new open enrollment periods started last year, and I think that they price they might pay for their lack of knowledge is too large, so I try to inform as many people as I can.

Are you reading this after August 15^th and still need insurance?  Call me anyway.  There may be a way to get you covered.

Chamber Group Rates? Well, no, but some discounts and benefits now available.

Years ago, small business owners, including many sole proprietors, used to join the Chamber to get association rates on health insurance.  Well, the state outlawed association rates many years ago, so now, unless a small business is in a grandfathered industry like banking or education, they can only get rates based on their own size, demographics, geography and type of business.  

The enormous cost has been a large burden to small businesses.  This burden has been a driving force in health care reform, leading to tax credits, and other forms of assistance, yet small businesses are still struggling with it.  Many local chambers are active in fighting on their behalf, including the ones I belong to, MetroWest and Corridor Nine.  After years of collaboration between the chambers, the Department of Insurance and the carriers, the Chamber Health Coop has been created with the Massachusetts Association of Chamber of Commerce Executives.

It’s not large group rates for small businesses, but it’s a start.   Members of the Chambers of Commerce are finally capable of receiving some discount on health insurance premiums through the Chamber Health Cooperative. I’m a certified M.A.C.C.E. (Massachusetts Association of Chamber of Commerce Executives) broker and qualified to help Chamber members with the discounted plans through the Cooperative (as long as you’ve joined the M.A.C.C.E. Group Purchasing Cooperative).

Health insurance is not an easy task. It’s difficult for business to afford, especially small ones. Options are hard to sort through, and deciding what’s best for your employees can be daunting.

As the Principal of A.M. Health & Life, I can help you and your small business find the health plan that’s right for you, financially and practically. If the plans offered through the Coop still don’t suit to your needs, we can help tailor a plan to your needs with all of the plans available in Massachusetts. Included under this new program are MetroWest, Corridor Nine, and Worcester chambers, among others.  Contact your local chamber to see if you qualify.

Rates are now available. Just call us at 508-429-2270 or e-mail us at info@amhealthandlife.com

Health Insurance Tip for Small Businesses

There are a few basic ways the design of your health plan can help save the company and its employees money.  One important strategy that is seldom taken advantage of, is the option to offer two very distinct health plan choices - a benefit-rich plan, and a higher deductible plan or a larger doctor network with a smaller doctor network.  Employees who have few medical concerns, and want to pay the least possible amount for their portion of the expense, may prefer a less rich plan, while the employees who have more demanding medical needs in their family will not have to settle for a plan that is not quite sufficient.  

One important factor in this strategy is the employer contribution.  If you are offering the minimal contribution (50% individual/35% family) or perhaps up to 65 or 70%, your employees will have an incentive to save money, as they are taking on a good portion of the financial burden.  If you are very generous, and offer 80 or 100% contribution, you may want to use a different strategy, or create an incentive for the employees to take a less rich plan.


That will be next week's tip!


Feel free to call for advice:  508-429-2270.