Health Insurance Tips For College Grads

New college graduates in 2011 will enjoy improved prospects in the job market. According to a recent survey sponsored by the National Association of Colleges and Employers, companies nationwide intend to hire 13.5% more grads in 2011 than they did last year¹. However, grads may be shocked when they see how much is taken from their first paycheck to help cover employer-sponsored health insurance premiums. According to the Kaiser Family Foundation, employees who get individual coverage through employers contribute $85 per month on average towards their monthly premiums for HMO-style coverage, while also shouldering an increasing share of their overall health care costs in the form of higher copayments and deductibles².                                            

 

Health Insurance Tips for 2011 College Grads:

 

Know your options before graduation –2011 college grads may be able to choose from among the following coverage options:

• Employer-based health insurance – This is how most Americans get their health insurance, but be sure you understand how your benefits work and how much you’ll be required to contribute towards the cost of your coverage and medical care.
• Individually-purchased health insurance – If you’re young and relatively healthy, individual health insurance coverage can be an affordable option. eHealthInsurance represents over 180 health insurance companies offering thousands of individual health insurance plans nationwide.
• Your parents’ health insurance plan – Health care reform allows adult children to retain coverage under their parents’ health insurance policy until age 26.
• Short-term health insurance – Consider short-term coverage if you expect to have employer-based health insurance within six months and only want basic protection for emergencies.
• Government high-risk pools – This may be an option if you’re declined for coverage on your own due to a pre-existing medical condition.
• Going uninsured – Not really an option: don’t put your financial future on the line by going without coverage!

Check your calculations before staying on Mom and Dad’s plan – One of the most tempting options for many grads is to stick with their parents’ health insurance policy until age 26. Before you do that, however, break out the calculator. Find out how much it costs your parents to keep you on their policy and compare that with quotes from leading health insurance companies in your area to see if it makes more sense to buy coverage on your own.

 

Newfound independence means a new budget – Your new independent life may require you to juggle a lot of new, unfamiliar expenses. It’s a good idea to plan out weekly and monthly budgets for yourself. When you do, be sure to save some space for health insurance. Since costs can vary depending on where you live and what kind of benefits you value most, work with a licensed agent like eHealthInsurance.com to get free quotes for plans in your area. Healthy young adults in many states may be able to find coverage from brand-name insurers for as low as $70 a month³.

 

Understand that the cost of a plan is about more than just monthly premiums – When reviewing quotes from different plans, keep in mind that the real-life cost of any health insurance plan is about more than the premiums you pay each month to maintain coverage. Pay special attention to the annual deductible you’ll be required to meet before your coverage really kicks in, plus copayments and coinsurance. ‘Coinsurance,’ for example, is when you pay a percentage of the bill and the insurer picks up the rest. Some people don’t realize it, but in many cases you’ll still have to pay coinsurance even after your deductible is met.

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¹SOURCE: N.A.C.E, Job Outlook 2011 Fall Preview:

² SOURCE: Kaiser Family Foundation survey of employer health benefits, published September 2010

³ Based on sample quotes generated at eHealthInsurance.com for plans from a selection of carriers and states on December 17, 2010 for 25-year-old males and females. This does not constitute a guarantee of coverage. Actual, final premiums may vary based on a number of factors including state, ZIP code, sex, smoking status, health history, etc.

A More Cost-Effective Means of Healthcare for Americans

According to a recent ABC news release, an estimated 550,000 Americans travelled abroad last year to take care of their medical needs. That number is projected to grow rapidly in the coming years.  New Jersey-based Ilan Pillai benefited from the medical tourism concept during a recent family vacation in Bangalore, India. "In spite of being fully insured, I was able to save over 70% in out-of-pocket expenses on dental procedures for me and my wife. I was very surprised to learn that the dentist had studied and practiced in the United States before she moved back to her hometown five years ago. The quality of care was comparable to the best dental facilities I had been to in the US," says Ilan.

Upon his return, Ilan interviewed a number of patients across the US who had benefited from similar medical travel. He found a consistent theme regarding the trouble and time it took for them to find information on healthcare providers abroad. There was a lack of reliable sources of information for these people to compare the quality and cost of care amongst various competing providers. 

Dental Savings Program - Save up to 70% On Dental Procedures In Your Neighborhood

The 2011 Mazda3 Is Top Safety Pick

The 2011 Mazda3 was today recognized as a "Top Safety Pick" by the Insurance Institute for Highway Safety (IIHS). The Mazda3 received the organization's highest possible crash safety rating of "Good" in all four tests conducted.

New poll shows tax credits, insurance exchanges in year-old Affordable Care Act attractive to California employers not currently offering health benefits, however most small firms don't know the provisions exist

More workers employed by California small businesses would have health insurance if their employers knew about key provisions in the national healthcare law, according to a new poll by Pacific Community Ventures.

One year after the passage of the Patient Protection and Affordable Care Act, 43 percent of small businesses not offering insurance said they would be more likely to do so once they learned about small business healthcare tax credits, a key provision in the law, according to the survey of 804 California small employers with fewer than 20 workers. However, 48 percent of small employers in the state are unaware of provisions in the law that benefit small businesses, the survey found.

Specifically, the poll found that 57 percent of small businesses are unfamiliar with the small business tax credits they can claim this year to offset healthcare costs, and 62 percent have not heard of health insurance exchanges, which the state is establishing to drive down insurance costs.  When provided with basic information about the exchanges, 55 percent said they would be likely to participate, and 32 percent of businesses not providing coverage said they would be more likely to offer it because of the exchanges.
"This survey shows the tremendous opportunity to further inform small business owners about the healthcare act's core benefits available to help them offer insurance," noted Beth Sirull, Executive Director of Pacific Community Ventures, a nonprofit organization committed to creating jobs in low-income communities. "Armed with this information, small businesses will play a vital role in covering great numbers of uninsured workers to buoy our economy with a healthy, productive workforce."

The Patient Protection and Affordable Care Act (ACA) was signed into law March 23, 2010 and included two key provisions critical for small business. The small business tax credits allow businesses with fewer than 25 employees that have average annual wages under $50,000 to get a tax credit of up to 35 percent of their health insurance costs beginning in tax year 2010. Insurance exchanges, which go into effect in 2014, are online marketplaces where small businesses and individuals can band together to purchase insurance.

Affordable Health Insurance

NFL Players to Celebrate Everything Natural, Green and Healthy in Atlanta

While most people vehemently claim that they want to be healthier, be thinner and be greener, few really know how to make the right changes in their lives to accomplish those goals. Wouldn't it be great to find all of the latest advice, products and information all in one place? That dream will once again become a reality when Atlanta's annual Alive! Expo opens this May.

For added excitement, Atlanta Falcons player Ovie Mughelli will bring some of his NFL pals to help with the Ovie Mughelli Foundation's onsite obstacle course where kids of all sizes can learn about the importance of getting and staying active.

For one weekend, hundreds of health industry experts, green companies, natural product makers and just about anything else you can think of that means a better and healthier lifestyle will head to Alive! Expo to interact with and give straight answers directly to the public.

Saturday, May 21, 2011 from 11 a.m. to 7 p.m.
Sunday, May 22, 2011 from 11 a.m. to 6 p.m.
Tickets available at http://www.AliveExpo.com:
One-day General Admission: $10 (ages 16 and under are free)
VIP One-day ticket (limited): $25; Includes: Exhibit Hall Admission and entry to VIP Lounge from 1 to 5 p.m. - must be 21 or older to enter VIP

Georgia World Congress Center, Hall A2
285 Andrew Young International Blvd., NW
Atlanta, GA 30313-1591
Discounted parking coupon available at http://www.AliveExpo.com

VEHICLES THAT EARN GOOD TEST RATINGS FOR SIDE-IMPACT PROTECTION GREATLY REDUCE RISK FOR DRIVERS

Drivers of vehicles that perform well in the Insurance Institute for Highway Safety’s side-impact crash test are much less likely to die in a real-world left-side crash than drivers of vehicles that do poorly, a new
analysis finds. The study includes only passenger vehicles with side airbags, demonstrating that airbags, while crucial, are far from the whole story in side crash protection.

After controlling for driver age and gender and vehicle type and weight, a driver of a vehicle rated good for driver protection in a side impact is 70 percent less likely to die in a left-side crash compared with a driver of a vehicle rated poor. A driver of a vehicle rated acceptable is 64 percent less likely to die, and a driver of a vehicle rated marginal is 49 percent less likely to die.“This was our first look at how our ratings correlate with actual crash data since we started side tests in 2003, and the numbers confirm that these are meaningful ratings,” says Institute chief research officer David Zuby. “Vehicles with good side ratings provide occupants with far more protection than vehicles that do poorly in our test.”

Side-impact crashes accounted for 27 percent of passenger vehicle occupant deaths in the United States in 2009. Such crashes can be particularly deadly because the sides of vehicles have relatively little space to
absorb energy and shield occupants. The ultimate goal of the Institute’s testing program is to encourage automakers to produce safer vehicles. Knowing that consumers consult the ratings before buying, manufacturers design cars and trucks with the Institute’s tests in mind. As a result, 78 percent of current vehicle designs that have been tested have good side ratings, compared with only about a third of vehicles tested in the program’s first two years.

Research Study: Insurance Barriers Blocking Access to Healthcare

Significant barriers to patient care implemented by the health insurance industry are difficult to navigate, have a negative impact on patient care and drive up the administrative costs of healthcare, according to a statewide survey of Georgia physician assistants.  The survey, which was released yesterday by the Georgia Association of Physician Assistants (GAPA), also indicated that most physician assistants (PAs) are proactively taking steps to help address the problems that plague the system, and feel there is a legislative role that can contribute to a solution.


According to the survey, a nearly universal 99 percent of PAs stated they have had to change the way they treat a patient as a result of restrictions imposed by an insurance company. An overwhelming majority, 94 percent, feels that health plans frequently or occasionally delay or deny diagnostic testing or prescription medications for their patients.

Not surprisingly, 93 percent of those surveyed stated they felt insurance requirements such as prior authorizations, pre-certifications, and step therapy protocols had some degree of a negative effect on their ability to treat patients.

"The lessons learned from this report are resounding, in that nearly all the physician assistants that responded to the survey cited major insurance hurdles they had to jump over before being able to provide the care they deemed appropriate for their patients," said Mary Vacala, ATC, PA-C, MSPAS, DFAAPA, and 2010-11 president of the Georgia Association of Physician Assistants. "Some cited several phone calls taking 45 minutes with an insurance company.  Others noted that patients are forced to go without medication until the insurance company would approve the treatment already prescribed by the healthcare professional."
One-in-five respondents stated they or their staffs are required to interact with an insurance provider to obtain approval for a prescribed course of treatment or to determine the insurer criteria for prior authorization or step therapy protocols an alarming 150 times or more per month. Approximately one-in-five said the number was 61-100 and more than one-in-four stated the number of interactions as 21-60.

"There are more than 2,000 physician assistants across the state of Georgia, and so many are using technology such as electronic medical records and e-prescribing, to promote better, more coordinated care," concluded Vacala.  "As these technologies continue to be developed, the Georgia General Assembly should take steps requiring that patient formulary information be more transparent and that there be a uniform electronic process for obtaining medication approval.  By taking simple steps, we will save significant time and resources while also having a healthier patient population in Georgia."

Source: Georgia Association of Physician Assistants

Millions of Americans Have Uncorrected Vision Problems

With the recent reform of healthcare in the United States, we are seeing rising costs of healthcare and health insurance coverage.  Employers are being forced to increase employees' cost sharing responsibilities and are exploring ways to add other benefits.


The Pennsylvania Association for the Blind is encouraging employers to consider Vision Care as an added benefit for their employees.  According to the National Eye Institute (NEI), two-thirds of all adults report wearing some type of eyewear and nearly one-quarter report they have an eye condition or disease.  An estimated 11 million Americans have uncorrected vision problems.

These vision problems can carry quite an expense and reduce productivity.  Vision coverage can help to maintain a healthier workforce, reduce absences and attract quality employees resulting in higher productivity.  In comparison to medical benefits, vision coverage is inexpensive.  It is often one-tenth that of medical benefits and is highly valued by employees.  Of the 43% of American adults not covered by a managed vision care plan, 63% said they would either "probably" or "definitely" sign up for vision care coverage if presented with the opportunity – even if they had to pay a small fee each month.

When seeking a vision plan provider; consider such factors:
 

Employer and employee ability to access information on the Internet;
Restrictions on eyeglass frame types;
Geographical locations of plan providers;
Age of employees (the older your employees' ages, the more coverage you need);
Cost of benefits as they relate to disposable income;
Ability to use independent providers or large optical retail chains;
Provision for a discount on laser vision correction;
The offer of both in-and out-of-network benefit alternatives;
Rate guarantees over a number of years and;
No minimum enrollments.

Find affordable health plans with vision coverage at Discount Insurance Marketplace

To Protect Possessions, Americans Need to Know Their 'Stuff'

Whether it is gourmet cooking gadgets, designer handbags or high-end electronics, what Americans invest in personal passions can have a profound impact on insurance needs. One of the best ways to make sure possessions are fully protected is to document them with a home inventory. Now, creating a home inventory is easier than ever thanks to myHOME Scr.APP.book, a new iPhone® application from the National Association of Insurance Commissioners (NAIC). The free app lets users quickly photograph and capture images, descriptions, bar codes and serial numbers, and then stores them electronically for safekeeping. The app organizes information room by room, and even creates a back-up file for e-mail sharing.

"A home inventory assures you know exactly what you own, and what it is worth, before you need to make a claim," says NAIC President and Iowa Insurance Commissioner Susan E. Voss. "Our research, however, suggests almost half of all Americans don't have an inventory of their possessions. Our new iPhone® app makes it easy to document your stuff. Knowing what you own will help you choose the right coverage in the first place."

10 Steps to Complete a Home Inventory

1. Make a list of possessions, including 'celebration' purchases such as jewelry and fine art.
2. Think about family heirlooms, collections and furniture. Also consider items related to everyday leisure time, from flat-screen televisions to custom guitars.
3. Take note of commonplace items such as toys, CDs and clothing. And do not forget items you may only use occasionally such as holiday decorations, sports equipment, tools and high-ticket items kept outside your home such as landscape and swing sets.
4. Attach copies of original sales receipts and/or appraisal documents to your inventory. Be sure to note model and serial numbers.
5. Group your possessions into logical categories, i.e., by hobby, by room in your home.
6. Carefully photograph or videotape each item and document a brief description including age, purchase price and estimated current value.
7. Remember to open drawers and closets to document what's inside.
8. Store your home inventory and related documents in a safe, easily accessible place such as a secured site/file online, a fire-proof box or in a safe deposit box. You may want to share a copy with your insurance provider so he or she can make necessary updates to your coverage.
9. Review and update your inventory annually and whenever you make a significant purchase.
10. To get started, download the free myHOME Scr.APP.book app for iPhone® users by visiting the iTunes® App Store or searching 'NAIC' in the app store from your phone.

 Make sure you're property is protected with Homeowner's insurance or Renter's insurance.

Five Ways the Unemployed Can Lower Their Taxes

While unemployment benefits are taxable, there are ways that the millions of people out of work last year may be able to lower their taxes, according to CCH, a Wolters Kluwer business and the leading global provider of tax, accounting and audit information, software and services (CCHGroup.com).


"Most people would far prefer to have a job than get tax breaks for being unemployed," said CCH Principal Federal Tax Analyst Mark Luscombe, JD, LLM, CPA. "But if that's not the case, they should at least know how to lower their tax bill."

Additionally, taxpayers who are unable to fully pay their tax debt may see some relief as a result of new IRS rules related to liens and collection procedures. Chief among the changes is barring the IRS from filing a lien against a taxpayer's property unless they owe more than $10,000 and granting more lien withdrawals, even if the debt has not been fully repaid in some instances.
"Many people were struggling with tax debt while being out of work during the recession," said Luscombe. "The hope is the new rules will ease their burden as they get back on their feet."

1. Job search deductions. What's deductible and what's not can cause some confusion, as a recent survey by CCH's CompleteTax showed (http://www.cch.com/CompleteTaxUnemploymentSurvey2011.pdf). However, you can deduct on your 2010 tax return expenses incurred in seeking employment in your same line of business during the year – whether or not you managed to find a job by year-end. These costs can include printing and mailing of resumes, as well as travel and transportation expenses. However, if you are looking for a job in a new line of business or looking for your first job, job search expenses can't be deducted.

2. Medical expense deductions. You can deduct the costs of unreimbursed health care for yourself, your spouse and dependents if the costs exceed 7.5 percent of your AGI – including that of your spouse if you file a joint return. Someone out of work may be more likely to reach this income threshold. So it's important to track medical expenses. 

3. Moving expenses. Once you find a job after being unemployed, you can generally deduct moving expenses not reimbursed by your employer if the job is more than 50 miles farther from your old residence than your old workplace was. 

4. Avoiding penalties on retirement withdrawals. If you need to take a withdrawal from your IRA, you can avoid an early withdrawal penalty by establishing a payment schedule of regular equal withdrawals over your lifetime or the joint lives of you and your beneficiary until you reach age 59 1/2. Penalty-free distributions can also be made from IRAs by unemployed individuals to pay health insurance premiums. 

5. Freelance tax breaks. Those who decide to take on freelance work will need to study up on the self-employment tax laws, including paying both employee and employer Medicare and Social Security taxes. That said, there are some tax breaks as well for the self-employed, including the ability to deduct 100 percent of health insurance premiums, home office expenses, journals and professional association fees and business travel expenses. However, if you earn more from freelancing than your state allows people collecting unemployment benefits to earn, you may lose those benefits – and if your freelance work dries up, you won't be eligible to have your unemployment benefits restarted.

 Health insurance for the unemployed

Winter-Related Damage to Vehicles Can Lead to Auto Insurance Questions

Pennsylvania drivers coping with vehicle damage from potholes or weather have the right under state law to choose their own repair shop, acting Insurance Commissioner Michael F. Consedine said today.
"While many insurance companies work with preferred body shops, insurance companies are not permitted to require policyholders to use a specific shop," Consedine said.

Damage to cars due to potholes is covered under the optional collision portion of an auto insurance policy. Coverage for potholes may vary from company to company—for instance, there may be limited coverage for damage to tires if the vehicle itself was not affected by the pothole. This coverage also pays for a collision with another car or object, or as a result of flipping over. Collision coverage is generally sold with a deductible of $250 to $1,000—the higher the deductible, the lower the premium.

The optional comprehensive portion of an auto insurance policy provides coverage for weather-related damage such as a tree limb or chunk of ice that falls on a car. Comprehensive coverage also provides reimbursement for losses due to theft, fire, earthquakes, flood or hail. Basically, it covers losses caused by something other than a collision with another car or object, or a crash with an animal such as a deer. This coverage is also offered with a deductible. This coverage also reimburses for cracked or shattered windshields.

Consumers with questions or concerns should visit www.insurance.pa.gov or call the department's toll-free, consumer hotline at (877) 881-6388, or either of the department's Bureau of Consumer Services' regional offices: Harrisburg at (717) 787-2317; or Philadelphia at (215) 560-2630.

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Are Football Players Really Prepared for NFL Lockout #10?

With a $9 billion dollar pie to carve up and no one agreeing on how to slice it, NFL players have more at stake this week than just their salary. Insurance might not be at the top of their play list, but it should be. "Lockouts can linger and professional players must stay in shape; their livelihoods depend on jumping back into the game whenever this battle is over," says Frank N. Darras, the nation's top disability insurance attorney.  "They can't risk an illness or serious injury during lockout. Players need to secure the right insurance protection individually during this period."

Continuing health insurance is crucial and can be accomplished by purchasing COBRA coverage if a lockout occurs. Even though the cost may run $800 to $900 a month, a lapse in coverage raises ugly pre-existing condition limitations which could be catastrophic. Under the new healthcare reform act, insurance companies are required to allow dependent children to stay on their parent's insurance policies until age 26. The restrictions state: you can't have a job which offers insurance (which during lockouts players don't) and they must be claimed as dependents on their parents' taxes for that year. This might be a stretch for some players who are not yet 26, however, it is worth investigating.

Other components to consider when buying a private disability insurance policy should be:

• Buy as much as you can, as early as you can so you can lock in cheap premiums
• Re-evaluate the amount of coverage with every contract signing. As players make more money, they should increase coverage to match any increase in salary and incentives.
• Make sure to buy individual "guaranteed renewable" and "non-cancelable" disability policies. The insurance company will not be able to change the contract language, cancel coverage or increase the premiums.
• Read the fine print and make sure all questions are answered before purchasing the policy.

While no one wants to see this standoff prolonged, it is an excellent time for players to shore up their options for insurance – particularly disability insurance as they are in a high-risk profession. If a claim needs to be filed, seek a seasoned veteran – a top disability lawyer to help get the benefits they deserve, says Darras.

Online disability insurance quotes

Taking a scalpel to the healthcare system

Social Security now doles out more money in benefit checks than it takes in from taxes, and its trust fund is projected to run out of cash in about 26 years. Former Tennessee Gov. Philip Bredesen proposes a Social Security-like trust fund to collect payroll taxes and issue medical vouchers to every American. That would do away with private health insurers making it something worth considering. Read Story

Dental Savings Program

Health Care Law Can Be Temporarily Enforced

Obesity: 'Like the new smoking'

Two-thirds of Americans are overweight or obese and, according to a growing body of evidence, at greater risk of getting, and dying of, cancer. 'Obesity is almost like the new smoking,' says one expert. Read Story

Dr. Caroline J. Cederquist, M.D., weight loss program - It’s a proven strategy that works!

As health costs soar, GOP and insurers differ on cause

Republicans are seizing on rising costs as evidence that the new health care law includes expensive features, but insurers say premiums are rising because of demand and cost of care.   Read Story

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Healthcare consumers get new ways to cut premiums, but at a price

When consumers and employers pick health plans, some increasingly are being offered a trade-off these days: They can get a hefty break on their premiums if they agree to pay more out-of-pocket when they use certain high-cost providers in their network or if they cut those providers out of their network altogether. Read Story

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Obama endorses key change to healthcare law

President Obama endorsed a significant change to his health reform law Monday, signing on to bipartisan legislation that would allow states to opt out of federal requirements -- including the individual mandate -- three years earlier than scheduled. Read Story

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Blue Shield calls pending rate hikes reasonable

Blue Shield of California, assailed by consumers and state regulators for seeking to hike insurance rates as much as 59% in recent months, declared after a review that its proposed rates are reasonable.  Blue Shield says a consultant it hired has determined that the proposed premium increases are not excessive. California Insurance Commissioner Dave Jones voices skepticism. Read Story

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