When Health Republic Insurance of New Jersey announced recently that it’s $46 million in debt and shutting down, it became the 17th failed ObamaCare co-op since the Affordable Care Act launched three years ago.
Those failures – just six of the original 23 co-ops remain – have left hundreds of thousands of people scrambling for coverage.
Meanwhile, insurers claiming big losses are leaving some state exchanges -- including Indiana University Health Plans, whose exit is expected to result in 27,000 Indiana residents losing ObamaCare plans in 2017. And companies still operating in the federal and state exchanges are raising premiums for next year. Click here for the full story.
If you qualify for tax subsidies, or if you suffer from a chronic illness, then Obamacare plans are probably for you. If so, here's an article that tells you how to get ready for the upcoming "open season" for buying Obamacare insurance.
If you're generally healthy, and if you *don't* qualify for Obamacare tax subsidies, or if you just hate the idea of forcing taxpayers to pay for your healthcare, you can bypass the whole rigmarole (definition: "an elaborate or complicated procedure") and simply sign up today for Private Plan 364, a health insurance plan that covers you at over 850,000 doctors and tens of thousands of hospitals and clinics across the country. You'll save 40-50% off Obamacare premium rate.
You can choose the amount of deductible you're comfortable with. You can choose additional optional benefits like dental coverage, additional accident and critical illness coverage, and even additional first-dollar plans that effectively cover your deductible -- all for less than a typical Obamacare Marketplace policy.
For more information on PP-364 Medical Insurance Plan, click here to see our brochure.
Healthcare executives’ “lackadaisical approach” to cybersecurity endangers the lives and futures of breach victims, who have little help or recourse for dealing with identity theft, according to a new report from the Institute for Critical Infrastructure Technology.
It looks at how healthcare information is exploited on the Dark Web, with the data often being sold multiple times. Such information also can continue to be sold for the rest of the victim’s life, the authors say in their tersely worded report, adding that "for some, such as children, this can drastically hinder their future financial stability and limit the potential lives that they could lead.”
The report lays out testimony the organization will present at a Senate hearing on Sept. 22.
The authors also in the report write about cases where health security breaches negatively impacted individuals.
One example is a woman had a baby in Utah using the stolen medical identity of Anndorie Cromar to pay for the services. When the child was born with drugs in its system, Child Protective Services took custody of it and, assuming Cromar was a drug addict and negligent parent, went after custody of the real Anndorie Cromar’s other children. Cromar had to undergo a DNA test to remove her name from the infant’s birth certificate, and she spent years correcting her medical records. Read more at Fierce Healthcare....
North Carolinians will know in the next two weeks whether they will have only one company offering insurance through the Affordable Care Act’s online marketplace – or none.
Brad Wilson, CEO of Blue Cross and Blue Shield of North Carolina, said Friday that his company will decide this month whether to continue participating in the marketplace now that its major competitors, UnitedHealthcare and Aetna, have pulled out.
If Blue Cross should drop out too, that would mean 600,000 to 700,000 North Carolinians, who have insurance through the marketplace now, would have almost no options.
“It’s clear something’s wrong. Something’s not working right,” said Wilson, speaking to business leaders at the Hood Hargett Breakfast Club at Carmel Country Club.
The uninsured will “continue to need and to get health care services. (But) nothing is free,” he said. “Uncompensated care is paid for somehow, some way. It will show up in health care premiums ultimately.” Continue reading the Charlotte Observer....
Tennessee regulators have approved the full amount of the rate increases requested by the three health insurers still offering exchange plans under ObamaCare, pushing up rates by the biggest amount since the program began three years ago.
BlueCross BlueShield of Tennessee, the state's biggest health insurer, will raise individual rates by 62 percent in 2017, or nearly double the 36 percent rate increase adopted this year by BlueCross. Small group rates in the marketplace exchange will rise by only 6.5 percent, however.
Cigna got state approval to raise its individual rates for its ObamaCare plans by 46.3 percent, while Humana got the OK for a 44.3 percent jump in premiums for individual plans next year. Read more at the Times-Free Press....
"If you like your doctor, you can keep your doctor" was President Barack Obama's signature catchphrase he used to sell the Affordable Care Act to the American people. Now Obamacare's flagship website, healthcare.gov, no longer even addresses the issue.
Ironically, the section in question was the first public (if indirect) admission by the Obama administration that the president's promise was less than a "guarantee." As THE WEEKLY STANDARD first reported in July 2013, the website told consumers that they "may be able to keep your current doctor," in contrast to the president's unequivocal statement: "Here is a guarantee that I've made. If you have insurance that you like, then you will be able to keep that insurance. If you've got a doctor that you like, you will be able to keep your doctor." Read more at The Weekly Standard
If you currently have health insurance coverage through your employer -- especially if it's a large corporation that pays most if not all of the premium -- you can click off to something more entertaining. You're fortunate to be in such a good situation.
If you have a policy through the Obamacare Marketplace/Exchange, you might want to continue reading, because it's really starting to look like Obamacare-as-we-know-it is imploding. Many of the larger insurance companies have abandoned ship, and more are sure to follow. The cost of those policies is expected to rise substantially in 2017, even if you're getting subsidies. And the average deductible is expected to go up to over $7,000 per person.
If you work for a small company and pay some or all of your health insurance premium yourself, or if you currently have no health insurance coverage, read on. This is for you.
Non-Obamacare Health Insurance
Not all insurance companies chose to go the Obamacare route when the "Affordable Care Act" was enacted. Some companies continued to offer what I refer to as old-school health insurance.
I work with one such company. We provide a health insurance policy called Private Plan 364.
What does PP-364 offer?
1. Lower -- much lower -- premiums. Rates are typically 35-50% less than ACA plans.
2. Lower deductibles. Most people choose a $1,000 or $2,500 deductible. Compare that to the high current and expected average deductibles of Obamacare plans.
3. One of the largest physician/hospital networks. The company will pay claims to any of over 850,000 doctors and thousands and thousands of hospitals. You are not confined to a regional or metropolitan area of service providers, as you would be in many ACA plans.
4. It pays even if your doctor or hospital isn't in the network. (It's highly unlikely you'll find a doctor or hospital who isn't in the network.)
5. This plan is available any time of year. You don't have to wait for an "open enrollment" season like you do with ACA-plans.
PP-364 is currently available to residents of Alabama, Arkansas, Arizona, Georgia, Illinois, Louisiana, Missouri, Mississippi, North Carolina, Nebraska, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, and Texas. More states will be come aboard soon.
It can be purchased by individuals and their families, and it can also be purchased by a small company (under 50 employees) for its employees. It's portable, meaning if a new employee is added to the payroll he or she can be added, and if an employee leaves the company he or she can take the policy with him or her.
If you would like a brochure outlining how this plan works, or would like a rate quote for you and your family, shoot me a private message.
The cost of medical services continues to rise, and not having adequate health insurance when an unexpected accident or illness occurs can bankrupt you. As some of you know, I have always been quite healthy, until one day in 2010 I suddenly wasn't. What I thought was the flu turned into a 20-day hospitalization including six surgeries to battle flesh-eating bacteria. That cost an insurance company over $130,000. Financially, all it cost me was the low deductible and the price of the monthly premiums.
A friend spent four days in a hospital a few years ago after being bitten by a snake. It cost her insurance company over $58,000. One of my clients, previously uninsured until he bought the PP-364, felt bloated and weak and went the E.R. It turned out to be a heart issue and so far, his bill tops $70,000. Another client was recently diagnosed with cancer. We're all thankful he is covered.
Here are some example monthly rates for a female non-smoker in Georgia. They include dental coverage. Rates for men are lower initially than for women, but are slightly more after about age 55.
30-year old: $142
40-year old: $184
50-year old: $256
60-year old: $354
Each child, up to age 25, would be about $55/month.
If you know someone who could use this information, please pass it on to them. Please share this on your timeline. Sure, some people will gripe about a "commercial" on Facebook, but also, someone will probably thank you one day for sharing this.
I also have available stand-alone dental and vision plans, as well as a Basic Benefits PPO (500,000+ providers nationwide) package which includes doctor visits, certain outpatient services, and unlimited no cost telemedicine consultations.
I'm happy to send you a brochure (PDF) about PP-364 and a rate quote. Just ask.
Call me at
• Independent Life & Health Insurance Agent
• LegalShield & IDSheld Independent Associate & Director