Health Insurance Premiums Surging: My 2 Cents

http://ButchZemar.com 60% Increase on Health insurance premiums???  It makes sense to avoid that! This article switches back and forth from Group Health Insurance coverage to Private health insurance coverage.  Be careful how you read it.

Small Business Owners, Self-Employed to Learn About Protecting Assets From Illness, Injury

Press Release – For Immediate Publication

Contact: Butch Zemar 708-535-3006 butch@elitebenefits.net

January 21, 2010

Small Business Owners, Self-Employed to Learn About Protecting Assets From Illness, Injury

Bankruptcy is a very scary word. It’s even more terrifying when the cause of that bankruptcy is overwhelming medical bills. Small business owners and the self-employed find themselves at the greatest risk for this type of catastrophe. Not only will a debilitating illness or injury drastically reduce their income, but they are also the most likely to have let disability, long term care and other types of protective programs and insurances fall through the cracks. These professionals may lose everything when they are too sick or hurt to work.

As a service to those who may someday find themselves in this precarious situation, David Dykstra of Edward Jones Investments is hosting “Protecting Your Assets”, a seminar to inform and educate small business owners and the self-employed about asset protection, conducted by Butch Zemar of Elite Benefits, an expert in the health care insurance for small business field. The seminar is scheduled for Saturday February 6^th at 9 am, at Dykstra’s offices, 60 Orland Square Drive, Suite 301 in Orland Park, at the southeast outer edge of the mall property.

Zemar says, “The right kind of protection is crucial to recovering from a catastrophic event; financially, emotionally and physically. Health insurance may cover your medical bills, but it won’t pay your mortgage, your grocery bills or college tuition. Pulling money from your retirement fund or falling behind on your mortgage for just a few months will have shattering long-term consequences.”

“We want our business owners to succeed, to grow and to keep their businesses open for many years to come. Just having health insurance is not enough. This seminar will teach the business community what other programs and initiatives are available to cover the gaps and pay non-medical expenses when their income has been compromised. We’ll also talk about tax incentives and the realities of care-giving.” Zemar will also discuss ensuring revenue streams in cases of permanent disability or critical long-term illness.

Dykstra himself will also be on the morning’s agenda, offering education about the strategic use and importance of life insurance to business owners’ heirs. He said, “Butch is an expert at what he does. I’m pleased to be able to offer this information to the business community.” Patrick Hammer, owner of Scuba Emporium in Orland Park, recommends the seminar. “I have been getting the guidance I need from Mr. Zemar for years.”

Registration for this event is recommended, as seats are limited. Register with Carol by calling 708-873-9436.

Almost 50% of bankruptcies are the direct result of illness or injury. “Protecting Your Assets” will educate small business owners and the self-employed about avoiding just that.

################################

The Great Healthcare Debate: Sunshine and Lolipops Are Not Coming Our Way

Utopian promises, people shouting, and never-ending analysis on healthcare has probably made you think twice before turning on CNN or picking up a newspaper. If you are tuning in to the great debate that has descended on our country, chances are you are as confused as when you were trying to put together that “easy to assemble” piece of furniture from Wal-Mart. It never ceases to amaze me how Washington, lobbyists, and our faithful public servants turn an important issue into a complete circus act. Despite the circus atmosphere, it is important that you, your neighbors, and I understand what is being proposed.

Before I begin with my opinion on what is happening, let me be clear on one thing: I do not believe nor do I claim to have “the answer” to solving our country’s healthcare woes. Instead, I want to provide you with an insurance agent’s perspective on what is currently happening with the healthcare debate. Please remember that the following is merely my humble opinion.

Sunshine and lollipops are not coming our way: There has been a lot of talk about low-cost, benefit-rich health plans that will be available to everyone and how rising healthcare costs will be solved by using electronic medical records. I’m skeptical about how true these predictions are. Unfortunately, someone has to pay for healthcare. Insurance companies and the Federal Government do not have money trees in the backyard (the government can only print so much money out of thin air before inflation and other economic problems arise). Insurance companies and the Federal Government get money from you and me, so we either have to pay for healthcare through our own pocket, health insurance premiums, or taxes. If you are financially stable, you’re going to be paying for those less fortunate’s healthcare one way or another. This is part of the reason why an aspirin at the emergency room costs $25.00; you’re paying for your aspirin and all of the people who cannot afford to pay’s aspirin.

While electronic health records may reduce certain administrative costs, you’re still going to have to pay a doctor to remove your appendix. Not too mention you have to pay for all those nurses and high-tech medical equipment.

A big, complicated piece of legislation is not the most efficient way to solve our problems: I think many people have forgotten that snappy Schoolhouse Rock episode where the bill sings and dances about how a bill becomes a law. Big bills allow individuals in Congress to tack on questionable amendments to bills that are not often in the public’s best interest. These amendments are easier to hide in a big bill especially when the members of Congress haven’t even read the entire bill word for word. I advocate for a series of smaller bills to be passed to address certain key issues that represent part of the whole problem. Smaller bills passed over time would give Congress more flexibility should adjustments be needed as a result of unintended consequences caused by the new legislation. Smaller bills would also make it easier for our representatives in Washington as well as the public at large to read the full bill text before its passed into law.

Key items that need to be addressed: One item I believe Congress and I would agree on is the need to eliminate insurance company’s ability to decline health insurance coverage. The current system allows some people to be locked out from getting coverage due to their past medical history.

Post-issuance underwriting needs to be banned. Currently, many states allow health insurance companies to go back and re-underwrite a person who was previously approved for coverage when they file a claim.

Tort reform needs to be discussed. Even if we don’t want to admit it, our lawsuit-happy culture is adding to the cost of healthcare for everyone. This is an important issue that cannot be left on the side of the road because it makes some people politically uncomfortable.

Michael J. Lloyd
Brockhaus, Stuber, Fox & Lloyd, Inc. Insurance Agents
http://bsflinsurance.com/

Don’t Pay Too Much On Prescriptions Drugs

 

Butch Zemar
Elite Benefits of America
www.EliteBenefits.net

Critical Illness insurance: Hottest Insurance Product In The World

I just received an interesting email newsletter from Wilma “LTC Coach” Anderson, one of America’s foremost Long-Term Care Insurance marketers.

Here’s what she had to say (verbatim)…

“It’s TIME to start selling Critical Illness insurance. It’s the hottest insurance product in the WORLD for Agents to sell. Selling Critical Illness Insurance is sooo much easier than selling LTC! No sales resistance! Everyone can imagine having a heart attack, cancer, or a stroke… and then going back to work.”

“What difference would a $50,000 check make to your client and their family as he/she is recuperating? Plenty!”

And she continues…

“Some things just go better together… like Accident Expense Plus and your client’s major medical plan. More than ever, individuals are turning to high-deductible major medical policies as a way to keep their insurance premiums affordable. Unfortunately, high-deductible plans shift responsibility for a large portion of health care costs to your clients. That’s why American General created a powerful complement to high-deductible major medical plans… Accident Expense Plus.”

“Benefit amounts are from $1000 to $15,000. Deductible options are $0, $100, $250, and $500.”

For about decade, Elite Benefits of America has been selling MASSIVE amounts of Critical Illness Insurance to a majority of Americans that never before heard of it (because most insurance agents haven’t either)!

You see, you can have the most comprehensive health coverage in America and still get wiped out, because health insurance is designed to cover medical expenses only. It’s not going to pay the mortgage or rent, college tuition, car payments, utility bills or buy food for the family. It won’t pay your health or life insurance premiums (you better not let those policies lapse when you’re critically ill).

And what about supplemental accident coverage to protect against a high-deductible (Wilma’s American General example, above)?

Unnecessary with American Community! ALL their plans WAIVE deductibles for accidents! And there’s NO additional premium or ($100, $250 or $500) “supplemental” deductibles!

Butch Zemar

Medical Payments are Not a Replacement for Health Insurance

Some clients believe that Health Insurance is not necessary since their Auto Insurance provides medical payment coverage. They argue that Auto Insurance is going to protect them from health service bills, so why pay another premium to cover the same thing? There are two main points that clients should be aware of, the first of which may seem obvious to some:

1) You have to be injured in an auto accident to have an Auto Insurance Policy cover any medical expenses. If you’re appendix bursts, you fall off a ladder, you’re bitten by a dog, you cut yourself while cooking dinner, you run over your foot with the lawnmower, you’re injured during a pickup game of football…you get the idea. None of these things are related to your or anyone else’s Auto Insurance. You need Health Insurance to help with the medical expenses incurred as a result of these injuries.

2) Let’s say you are injured in an auto accident. What will your or the other party’s Auto Insurance Policy cover? First, it is important to understand that Auto Insurance Policies are divided into different coverage sections. Certain things need to occur to trigger these coverage sections. In Illinois, for example, your Auto Insurance Policy includes “Medical Payments Coverage per Person”. This is considered a “no-fault” coverage meaning no one needs to be legally liable for the coverage to kick into play. If you or your passengers are hurt, the Medical Payments Coverage applies. Sounds great, doesn’t it? Well, not so fast. Medical Payments coverage was designed to keep small claims from turning into large claims. The idea is if the insurance carrier appears to be compassionate and willing to compensate you or your passengers for an ambulance ride and some band-aids, you will be less inclined to file a lawsuit or pursue larger damages. Therefore, most people have small limits for this coverage such as $5,000 or $10,000. Such a small limit works okay for minor accidents (which is what the coverage is designed for), but what happens if there is a head injury or ongoing treatment is needed for several months? In an accident where the Medical Payments Coverage is not sufficient to cover all of the medical expenses, then another coverage may kick in. That coverage is Bodily Injury Liability. Bodily Injury Liability is different than Medical Payments because it requires someone to be legally liable before it will pay anything. Also, if you are the at-fault party, you cannot collect under your own Bodily Injury Liability. Since legal liability is not always clear, it can take days to months to even years for companies to argue with each other and decide who was responsible for the accident. This leaves you on the hook for all of the medical bills until a decision is reached amongst the insurance carriers involved in the claim. If you have the unfortunate luck of being hit by someone with a non-standard company, chances are better than not that you’re going to be involved in a long battle to get any money for your bills.

In simple terms, Auto Insurance works in conjunction with Health Insurance; it does not replace it. Don’t put your health or your financial well-being in jeopardy to save a few bucks. Remember, you may not want the guy who lives down the street’s fly-by-night Auto Insurance carrier to deicide how much to give you for your spleen.

Michael J. Lloyd
Brockhaus, Stuber, Fox & Lloyd, Inc. Insurance Agents
http://bsflinsurance.com/

Take Employer Health Plan Or Private Health Insurance: the Reality

Today is quite different when it comes to getting access to health insurance. In fact it is so different you need to make a decision to either take your health insurance at work or go to the open market and purchase your own plan. Some employers are not even offering health insurance due to the rising cost. This is especially true with smaller businesses due to the size of the group and how much the plan is used. Bigger groups do not get a discount due to the size; they just have a larger premium base to work with. This means they have more employees to share the cost with and the larger group can balance health vs. unhealthy better than smaller groups.

We are either switching jobs to one that will have different employer options, in terms of coverage and costs, or your current employer is making changes to make it more affordable for the business. It may be an option to look outside of the employer plan and purchase a plan on your own. More often than not, the employer will pay a good portion for the employee but not much for your spouse and dependents. This could drastically reduce your costs each month. This could be as much as 50% of what you are paying your employer. Initially, it may not make sense to break the family apart on your health insurance, but it is the new reality to save money.

The other reason you may look outside of your company is you believe you can get better coverage than what is offered at work. This may be true, but do not jump the gun. The private market is not full of roses either. There are limitations in policies that you may not have seen with your company plan. They also lack coverage that might have been covered such as chiropractic care and anxiety or depression treatment including counseling. Depending on the carrier you either will not have this kind of coverage or it is very limited and you will end up paying for it. The other thing to consider is pre-existing conditions. A pre-existing condition is any treatment received within the last 12-24 months (or longer on some health conditions). So even if its ‘preventative’ medication or treatment it can be classified as a pre-existing condition. Most commonly treated conditions are usually covered at some point. Each carrier will have a different ‘personality’ for each pre-existing condition. This is why it is important to work with an independent health insurance expert. How do you know they are independent? Ask them for their business card or website. If it shows a particular carrier logo, they have a vested interest in one company.

Buying private insurance has become even more attractive in recent years because you are the one in control. It does not matter if you are self-employed, unemployed or an employee; you can continue your coverage as long as you are paying for your premiums. Generally, if you look at the full premium with an employer, not the portion you are covering, you can get similar coverage privately for 30%-60% less! This is nothing new. We are just stuck in old times thinking someone else should be paying for it.

Fact check: About fifty percent of bankruptcies are due to medical bankruptcy. Most of those filed had health insurance at the time of the on-set of the illness. There are many reasons for this: you are replaced at work due to the length of time off, you cannot afford C.O.B.R.A, you lose sources of income. If you purchased your own policy you could get it for up to 60% less than what C.O.B.R.A could be in a similar situation. That alone can make things more affordable. If you work with an expert they will recommend a Critical Illness Insurance policy on every adult. Critical Illness insurance pays one lump sum upon diagnosis of a critical illness – with no waiting period! How much would a check for $25,000 help you when you need it the most, due your health?

It is clear that buying private insurance is becoming more and more common. There are a lot of pluses to buying on your own versus going with a company plan. Make sure you use diligence when you are shopping. Put your efforts in find a health insurance expert. They will already have done the homework on all the plans in the market place. It is up to you to ask enough questions to help make an educated decision.

Butch Zemar
http://EliteBenefits.net/Blog

Purchasing A Health Insurance Plan Online: A Death Wish?

The internet has changed the way we do things. You can “Google” symptoms of a medical condition to get other people’s experience with the same condition or get a prognosis for the problem. We move to shopping online for things we need. Amazon gets over 1 Million hits per day with revenues exceeding $52 Million per day. That’s only about $19,000 less than Macy’s per day but with no retail store front. You can even go to PeaPod.com to order your groceries without ever leaving the house. The online world has made us forget about how complicated something is by the ease of finding the information at your fingertips.

We have the ability to access health insurance quotes and limited information about health insurance plans. At times we feel rushed or have time frame commitments so we make decisions based on these limited facts. We take in small amounts of information that we perceive as all the facts, however the reality is we don’t know any better. We get a false sense of security because we read some information and compare it to another plan. Now we go ahead and apply and we feel protected. Think again…

Statistically, people will only retain 15% of the information they read. To be quite honest, most people only have a vague idea about what to look for when it comes to their health insurance. Let me ask you… if people only have a vague idea and most can only retain 15% of what they read, would you trust someone’s judgment with that kind of decision? This is why a college graduate cannot just call him/herself an attorney. Even if you do understand the information and we double the retention rate to 30%, you still have a 70% likelihood of not remembering how your health insurance policy actually works. It is a bad time to find out how your policy actually works at claim time.

Now, what if you were searching for the wrong information? How would you know? Talk to a friend of yours that never had to buy their own health insurance or doesn’t even have a health insurance plan? Maybe you compare it to your previous employer sponsored plan? To drive my point home a little more… Let’s take a professional baseball player. Like in any professional sports, they are always making adjustments to improve their batting average. If they make a wrong adjustment they can be swinging the bat the wrong way. A baseball player can start making adjustments as soon as they start noticing the change is for the worse. Unfortunately, with health insurance, if we are basing things off of wrong information we will not find out until claim time. Claim time is not only the wrong time to find out how your policy works but you also may not be able to make any changes, at least for that claim. This can leave you vulnerable of thousands of dollars for something that could have been prevented if consumers first seek a professional.

The other side to this argument is “I did use a ‘so-called expert’ and I wasn’t happy with the plan”. My response is “Don’t blame me for other people’s failures. You obviously didn’t work with a health insurance expert.” Do your homework on the expert. The expert will guide you through their profession.

A quick note: Those people who say “I’ll try it out and see how it goes”. There is no ‘trying out’ in health insurance. “Trying” is like a death wish. Try explaining to your family that you are medically bankrupt because you decided to “try” your insurance policy out to see how it goes. Is that a risk you are willing to take?

In a nutshell, you wouldn’t ‘diagnose’ anything without seeing a doctor nor would you give yourself legal advice if you potentially would be paying 10’s of thousands of dollars. The same should go with health insurance. If you don’t use a health insurance expert, get your health insurance license! Then, study all the Health Insurance programs available in your state. After about 6-12 months of due diligence you will be able to make a well educated decision. Oh wait, why would you do that when people already have?

Butch Zemar

Think You Don’t Need Life Insurance? Think Again!

If Anyone Depends on You Financially, You Need It

If you died tomorrow, how would your loved ones fare financially? It’s not a pleasant scenario to think about, but not doing so can have serious consequences. It might be a good idea to think about your life insurance needs to ensure their families would be adequately protected if the worst were to happen.

The fact is most Americans need life insurance. If someone depends on you financially, you need life insurance. It’s that simple. Unfortunately, nearly 70 million adult Americans have no coverage at all, and most of those who do have far less coverage than financial experts recommend.”

Life insurance provides cash to your family after your death. Known as the death benefit, it can help your family pay for the funeral and other final expenses, eliminate credit-card balances and car loans, and provide loved ones with income to live on for a period of time.

Whether a person needs life insurance depends on his or her particular situation and financial objectives. For help determining if you need life insurance you need to consider six scenarios:

You’re Married. Married people share a life with one another, but also share financial obligations. If you died suddenly, would your surviving spouse have enough money to pay for your final expenses and buy time to adjust to a new way of life? Life insurance can help ensure that these financial goals will be met.

You’re Married with Kids. Having kids is the most obvious reason to own life insurance. If you and your income were suddenly gone, would your spouse and kids be okay financially? Life insurance replaces lost income to help make sure those who depend on you will be provided for, no matter what life throws your way.

You’re a Single Parent. As a single parent, you’re the caregiver, breadwinner, cook, chauffeur, and so much more. You need to make doubly sure that you have safeguarded your children’s future in case you are no longer there to care for them. Make sure you have enough life insurance and designate who will take care of your children in case the unthinkable were to happen.

You’re a Stay-at-Home Parent. Just because you don’t bring home a paycheck doesn’t mean you don’t make contributions to your family that would be expensive to replace. If you were no longer there, could your spouse afford to pay someone to provide the childcare, transportation, cleaning, cooking and other household responsibilities that you handle everyday?

You’re Approaching Retirement. The kids may be gone and the mortgage paid off, but that doesn’t mean Social Security or your savings will necessarily take care of everything that lies ahead. If you died tomorrow, would your financial strategy, without insurance, enable your spouse to maintain the lifestyle that the two of you worked so hard to achieve?

You’re a Small Business Owner. Life insurance can help protect your business in a number of ways in the event you, your partner, or a key employee dies prematurely. A buy-sell agreement funded with life insurance allows surviving business owners to buy the company interests of a deceased business owner at a previously agreed-on price. Key-person insurance can provide business owners with the flexibility to hire a replacement when the key employee dies.

In conclusion: If you don’t have life insurance it might be the time to evaluate that. If you do have life insurance there is a good chance you don’t have enough. How much is enough? Each family has different needs, wants and budget. It’s up to you to determine that amount. They typical suggestion is 6 times your annual income. Is that enough for your family to pay off debts, funeral expenses and put the kids in college? Life Insurance is a serious topic to consider discussing with you spouse and family.

Carrier Cancels Health Insurance On 17 Year Old

Recently there was an article posted in the Chicago Tribune titled “Firm cancels health insurance coverage for girl, 17, after celiac disease diagnosis. The article talks about American Community Mutual Insurance Company rescinding a policy after being diagnosed with a condition. What makes the ‘image’ worse is that they did it to a minor. We are all looking for dependable affordable health insurance. This is the last thing we want to hear.

Just like anything else in the media, there is a twist to make it sell. If they don’t sell ads or newspapers, just like any other business they would shut down. The sad thing is the person that wrote the article actually states the obvious reason why they rescinded the policy.

The parents insisted they were truthful on the application. Even the application states that there were no prior medical problems. However, in the article it also states that American Community reviewed her files and found reports of dizziness, elevated cholesterol levels, ongoing fatigue and persistent cough. It continues to state that the father defended the findings of the insurance company. That tells me that they were not truthful on the application. Even if the ailment is not on the list provided on the application by name there is a question on the American Community application (similar to other carriers as well):

118. Been diagnosed or treated for any medical symptoms or condition not listed above? Yes or No

The father continued by saying “the insurance company cherry-picked from various doctors’ visits and that none of his daughter’s health problems were ongoing.” If you go back and re-read question #118 it doesn’t say ‘ongoing’. On top of it, if the wording was misinterpreted American Community would have given enough time to get the doctor with those records to write a letter clarifying his/her notes. The father gave HIS reasons for each one of the medical conditions. Shouldn’t that be good enough? The reality is that it’s not good enough. The insurance companies don’t make this stuff up. You can’t get around it if something is stated in the medical records, that’s why it is there. Maybe we should go more ‘European Style’ for the doctors – I’ve heard they don’t keep copies of the records. They give the results of the examination to the patient. This way you can actually see what is written down in the records.

According to the Illinois Department of Insurance, since 2007, American Community has had 12 rescission-related complaints, 6 just this year alone. However, with 11 of those complaints the Department of Insurance upheld American Community’s decision to rescind the coverage. The Department of Insurance is there to protect the consumer. In other words, there were 11 complaints that were justifiable to rescind the policy based on false information provided by the policy holder. The 12^th case, presumably, is the case they are referring to in the article. Then there is the argument about having half the number of complaints just this year alone… Only consumers can dictate when they want to file a complaint. The article did not compare the number of complaints to any other carrier. It could be safe to ‘assume’ this could be the norm. Even if we cannot, we don’t have enough evidence to make a statement.

The article states that the department has investigated about 400 rescission-related cases industry wide since 2005. These are only complaint related. There are 1,000’s of rescissions every single year. People in general have good intentions to tell the truth and to be honest. However, the truth is that most people don’t fill out health applications every day. What may not be as important or a ‘problem’ to you could be a problem for the insurance company. This is where working with an independent health insurance expert is important. If you are not sure if you need to put it down or not, put it down. If you are like me, I’d rather see what kind of problems I will run in to now, when I don’t need insurance, versus when I actually need the health insurance at claim time.

The applicant in the article does qualify for Illinois Comprehensive Health Insurance Plan, or ICHIP. For a 17 year old female, they are looking at an average premium of $2,700 per year, not the $7,666 it states in the article. This is just another way to mislead people that just don’t know any better.

This should be a good lesson for those who might have withheld information on their application for coverage. Sure, it is a bad thing to have something like this happen to someone, especially a minor. Switch the roles a little and ask yourself if YOU were the insurance company and had to worry about fraud all the time. Wouldn’t you investigate to see if someone was not being truthful? If not, you would go out of business because people would take advantage of you!

Butch Zemar

THREE WAYS TO HELP YOU SAVE MONEY ON YOUR LIFE INSURANCE

FOR IMMEDIATE RELEASE

CONTACT: Butch Zemar 888-535-3006

Local Insurance Expert Offers Cost-Cutting Tips to Encourage Consumers to Maintain Their Coverage

Crestwood, IL September 21st, 2009 – Uneasiness about the state of the economy has prompted Americans to look for ways to spend less wherever they can. If dropping your life insurance coverage is one of the options you’ve been considering, here’s some welcome news. You may be able to hold onto your coverage and save money in the process. “Life insurance is a financial safety net for your loved ones, so the absolute worst time to drop coverage is when you’re feeling financially vulnerable,” says Butch Zemar, President with Elite Benefits of America. “A far better solution is to find a way to save money on your existing coverage, and I’ve got some tips to help people do just that.” September is Life Insurance Awareness Month, the perfect time to review your life insurance needs with an insurance professional. If you already have coverage, you may be able to cut costs based on the following, says Zemar:

You’re healthier. If you have quit smoking, lost a substantial amount of weight or made significant improvements to your health, let your insurance company know. You may be able to qualify for a lower rate on your coverage.

Rates are near historic lows. Life insurance rates remain near historic lows. In fact, the cost of basic term life insurance has fallen by nearly 50 percent over the past decade. So if your family’s budget is tight and your health status hasn’t changed much since the time you last purchased coverage, you may want to apply for a new policy. If you do, make sure not to drop your current coverage until the new policy is in force.

Circumstances have changed. It is smart to review your policy every year to make sure it’s adequate and up to date. If the kids are out of the house, your mortgage has been paid off, you’ve gotten divorced or family members no longer need your financial support, your need for life insurance coverage may have decreased. A smaller face amount policy will likely save you money. “If people depend on you financially, life insurance is an absolute must and needs to remain a priority,” says Zemar. “But no one should pay more than they have to, especially in these tough economic times.”

About Life Insurance Awareness Month

Held each September, Life Insurance Awareness Month is an industry-wide effort that is coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE). The campaign was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. Nearly 70 million adult Americans have no life insurance, and most of those who do have far less coverage than most financial experts recommend. For more information on life insurance, visit LIFE’s website at http://www.lifehappens.org

Butch Zemar
www.EliteBenefits.net

###

Health Insurers Take Ratings Hit On Reform Fears

There have been several articles recently published about stability of health insurance carriers based on the health care reform. The only thing I have to question is if the health insurance companies are making so much profit, why are most of the carriers being downgraded in stability ratings? These ratings have nothing to do with how they pay claims. It’s about their financial stability based on an opinion.

From 2008 to 2009 a bulk of the industries main players have been down graded, but making it an even playing field for the carriers. There were only a few exceptions with the nation’s biggest carriers, such as WellPoint (Anthem Blue Cross/Blue Shield and Unicare), United Healthcare, Health Net and Healthcare Service Corp (Blue Cross/Blue Shield of Illinois, New Mexico, Oklahoma, Ohio and Texas). These carriers have recently been downgraded by certain rating companies.

Check out the articles: http://www.fiercehealthcare.com/story/health-insurers-take-ratings-hit-fitch-reform-fears/2009-08-07

http://industry.bnet.com/healthcare/1000730/sp-maintains-negative-outlook-on-health-insurance/

http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090724005429&newsLang=en

ObamaCare Yay Or Nay? The Truth About Canada!

The Truth About Canada Health Care!

Uh, Canada? Say it Ain’t So, Joe!

“The doctors gave me back my life. They repaired
the aneurysms in the artery leading to my brain that would have either killed or
impaired me. And I know how valiantly they worked to restore my sons’ health
after they were involved in a serious automobile accident as children. No doubt
about it, for this and many other reasons, the U.S. health care system is
wonderful. Sure it costs a lot, and of course, we must help those who don’t have
enough health insurance. But I don’t want to destroy this great system in the
process.” – JOE BIDENMarket Driven Health
Care (chapter 5)
Regina Herzlinger, Harvard Business School,
1997

Fast forward to 2009 and the most dangerous administration in
U.S. history. Instead of allowing Americans to solve our health care “crisis”
through free-market transactions, they’re forcing “solutions” on us that are
guaranteed to make things worse!

Latest and MOST DANGEROUS example: A House proposal (during an economic recession!) costing taxpayers
TRILLIONS, because Americans have a “RIGHT” to universal (Canadian-style) health
care. Joe?

Reality Check: The “right to health care” doesn’t exist in a government-run system… ANYWHERE in the world! The right to
health care is nothing more than an opportunity is to get (TAXPAYER PROVIDED)
services for “free”… IF the government decides to make those services
available.

But the government is under no obligation to provide
anything… and when it decides to ration or deny treatment… people
can’t go to court and sue the government (like Americans can sue an insurance
company for denying a covered benefit).

Government-run health care is inefficient and provides inferior medicine. Look no further than Medicare
(our own “universal” government-run program for seniors) and all of its coverage
gaps. Medicare has an unfunded liability in the TRILLIONS of dollars… which
proves that government programs aren’t affordable either.

If the lawmakers are intent on spending taxpayer money, they should give refundable tax
credits to people who need help, so they can purchase their own private
individual coverage on the open market!

But don’t just take my word for it…

Check Out This ALARMING Video and email it to EVERYONE concerned (and, more
importantly, unconcerned!) about socialized medicine in America!

-
Mark Goldstein
www.TheProducersAlliance.net

Individual Private Health Insurance Illegal Under House Bill

Would you ever believe that the government is trying to take away our freedom, one step at a time? In the recent proposal for Health care Reform, on page 16, it says “Except as provided in this paragraph, the individual health insurance issuer offering such coverage does not enroll any individual in such coverage if the first effective date of coverage is on or after the first day” of the year the legislation becomes law.

Read that again, you might have missed it. Even the media missed it! It says ‘does not’, which translates into ‘cannot’! You can keep what you currently have, but you will not be able to change to any other plan other than the public option. What do you think this will do to the entire industry? I’m not sure your view points, but I think this is insane. This eliminates the choices we have for our health care. On top of it, its government ran? To make it worse, the way it’s written right now it won’t actually control costs; it will drive it through the roof. Rationing your health is about to begin.

Check it out for yourself in the actual report:
http://edlabor.house.gov/documents/111/pdf/publications/AAHCA-BillText-071409.pdf

Butch Zemar
Elite Benefits of America
www.EliteBenefits.net

More Affordable, Permanent and Portable Health Insurance

Butch Zemar
www.EliteBenefits.net

Over Prescribed America: Reduce Your Health Care Costs With Rx Alternatives

Butch Zemar
www.EliteBenefits.net

Seven Biggest Mistakes People Make Buying Health Insurance

Mistake 1

Mistake 2

Mistake 3

Mistake 4

Mistake 5

Mistake 6

Mistake 7

 

Butch Zemar

www.EliteBenefits.net

Why Health Care Costs So Much, The Solution: Consumers

I recently read a small hand book called “Why Health Care Costs So Much, The Solution: Consumers” by Greg Dattilo and Dave Racer (http://www.freemarkethealthcare.com/). They have an interesting point of view to the healthcare system and I thought it would be worthwhile to share some of these points with you, considering the events taking place in our country.

The authors put things into a different perspective by having the auto insurance industry add co-pays for service. It starts out that most of the maintenance is free for the consumer while paying premiums. Each year the insurance company has to raise the premiums to offset the usage. Now that people were paying more for it they felt they were entitled to get services done even though they didn’t need the service. No matter how much premiums go up people keep their co-pays in the plan so they can get services done that are paid for by the insurance company. In turn, this creates waste. The book elaborates on how networks are started and more negotiation occurs to stabilize premiums.

 

The authors stated that in 1960 Americans paid for 48 percent of their healthcare, i.e. doctors and hospital bills, and the insurance company paid the rest of the bill. However, in 2006, the number dropped to 12 percent of those Americans paying for the health care. Those who had health insurance back then remember that health insurance premiums were not a problem. No one complained about paying out of pocket for services they needed. This led to asking what it cost, shopping around, and making sure the services were actually needed. It was what people were used to.

 

As time went on, insurance companies added in pre-paid maintenance programs, or co-pays. You paid a little more in your premiums but in return you were able to go to the doctors and not have to pay out of pocket for the whole bill. As time goes on the insurance companies have to keep raising the premiums more drastically just to cover the costs.

 

Some people think that insurance companies are like the oil companies. They believe that more the price goes up the more the profits are. However, that it couldn’t be further from the truth. There was a report done by Wellpoint that indicated that on the average insurance companies only make 3% in profits. I’ll discuss that more in detail in another blog post.

 

The book went on to explain in a little more detail. Towards the end of the book they noted that in 2007 $725 billion for health care were paid for by private insurance companies. There are a lot of zeros after that number. If Americans choose to do away with private health insurance and move into a government-run health system, where would $725 billion come from? That $725 billion will eventually exceed $1 Trillion. Do you think raising all of our taxes will be a good solution? If that’s the case eventually we will pay more in taxes for our healthcare than it would have cost just paying our own premiums.

Butch Zemar
www.EliteBenefits.net

ObamaCare Diagnosis: “Dead-on-Arrival”

I would like to share with you an email I received recently. We need to get the word out there. – Butch Zemar

Butch,

Socialized health care in America is dead (and you read it here, first).

We now know that one of the major healthcare overhaul plans on the table would cost at least $1.6 TRILLION ($1,600,000,000,000) over 10 years… yet still leave tens of millions of people uninsured!

The (nonpartisan) Congressional Budget Office (by the way, Butch, it might seem that history is repeating itself, since a negative CBO analysis delivered a devastating blow to “HillaryCare” in 1994) concluded that Senator Kennedy’s much awaited (and apparently over-hyped) “plan” would reduce the number of uninsured by only a net 16 million people… and 36 million people would remain uninsured in 2017!

Some quick math: Divide 1,600,000,000,000 (dollars) by 16,000,000 (people). The answer, $100,000, is the Kennedy bill’s cost to the American taxpayer per uninsured person over the next 10 years!

Too ridiculous to “reduce to the ridiculous” but here goes, anyhow: The cost of providing health care to a family of four, under the Kennedy “plan” would be a mind-numbing $40,000 per year… or $3,333 per month!

So, Butch, if you’re still conscious, we’re supposed to disrupt the lives of 150 million (non-elderly) Americans that are now covered by private insurance programs, in order to add just 16 million more… at a cost of $10,000 per individual per year?

Note: The government already directs almost 60% of America’s health care spending (Medicare, Medicaid, Veterans’ programs, etc.) and those outlays are grossly out of control… costing more than $1 TRILLION this year alone. Growing numbers of people that are eligible for government programs like Medicaid and SCHIP are refusing to enroll or are dropping out after trying it. They’re telling the politicians that these programs don’t work and aren’t worth participating in.

So, given the fact that the Feds have done such a miserable job in the area of health care, can we really afford to hand over the rest of the country’s programs to them?

Maybe the government should get its own house in order before tackling the private sector, eh, Butch?

- Mark

P.S.

“If I could show you a plan that’s run by the government… with the compassion of the IRS, the efficiency of the post office, and the competence of FEMA… for TEN times more than you’re currently paying, would you…?”

Mark D. Goldstein
President
The Producers Alliance
www.TheProducersAlliance.net

Funny Video on Health Insurance

I thought this was funny. Gets you in the mood for health insurance.

Unfortunately, I can’t claim ownership to this. I just thought I would share it.

Butch Zemar
www.EliteBenefits.net

No More Wait For Change

If you think we have already seen a lot of changes this year so far , there is more to come. In less than six months, there are things that have changed all around us to start making us think more about what we are doing and where we are headed. This could be as little as your neighbor or family member losing their job. Other changes might be related to how we operate our business. We can’t avoid it.

One area that has some drastic change to come is healthcare. This will affect the coverage we buy, how much we buy and how we make our decision to buy. The change has already started, such as the stimulus bill that including the C.O.B.R.A. relief act.
At this point, this relief may not affect how we do things when it comes to our healthcare. In the months to come, we may see other changes. The changes that are yet to come are neither good nor bad at this point. It is important that we stay up to speed and stay ahead. It is increasingly more important to work with a trusted advisor. There is no way you can keep up with the changes in the healthcare industry without actually being in it. I’m thankful that you have chosen me to keep you abreast with these changes.

I would stay tuned in the months to come. Keep a close ear to the newsletters and published materials by the experts (i.e. blogs and articles). Over the next several months I will be publishing information that could be vital to the healthcare process.
With times being tough at the time same time change is taking place we need to make sure we cover all aspects to ensure our families safety. This evaluation should cover all aspects of your insurance and estate planning. When times are great it’s easy to put things off, but when times are tough it could take a bigger toll.

Butch Zemar
www.EliteBenefits.net

Why NOT Having an HSA Can Cost You A Fortune

Listen to the audio:

Butch Zemar

www.EliteBenefits.net

Education Can Avert Health Care Crisis For Families/Businesses

Press Release For Immediate Publication

 

Contact: Butch Zemar, Elite Benefits, 888-535-3006

 

 

Education Can Avert Health Care Crisis For Families/Businesses

 

Part of the change being discussed in our country today is in health care and, overwhelmingly, we see misinformation and lack of information being detrimental to this national conversation. When it comes to conversations around our kitchen tables and small business conference tables, misinformation is an even greater problem. Do you understand thoroughly how and what your health insurance policy covers? Do you have a firm grip of what you need to do to receive proper health care? If you’re a small business owner, are you completely comfortable with the details of your policies – and does it really meet the needs of your industry, your staff and your budget?

 

Most people, including small business owners, really don’t understand their existing coverage and often find themselves at a huge disadvantage when making a claim. Without the proper knowledge, you can find yourself empty-handed, or in significant debt when a health care crisis occurs. “Finding out at claim time how your policy works – or doesn’t work – is the wrong time,” says Butch Zemar, President of Elite Benefits of America.

 

That’s why Zemar and Elite Benefits have devoted a significant portion of resources to educating families, individuals and small business owners about health insurance, all accessible via the web. At www.elitebenefits.net/articles, readers will find information about providing coverage for themselves and their families while unemployed, things that business owners can do to cut costs, when critical illness insurance is appropriate, what options are available for young people after graduation and making a decision between being part of an employer-based group or holding an individual policy. Zemar says, “With the right education, the cost of health care insurance and out-of-pocket expenses can dramatically decrease.”

 

Zemar is also cognizant of different learning styles and posts information as written articles, interactive blogs and videos. Because the health care situation is evolving so quickly now, a link also makes it easy for readers to register to receive new information regularly via an e-mailed newsletter.

 

Providing cutting edge information and updates on current events in the health care industry enables Elite Benefits of America, which specializes in health care insurance, to help consumers make better choices for their health insurance. Zemar’s seven years as a health and life insurance specialist helps individuals, families and small businesses find the right insurance product to fit both budget and needs as well as personally provide education and consultation.

 

Having the right information about health care can save your financial security – and your life. Visit www.elitebenefits.net, or call 888-535-3006 so that when a conversation begins about the state of health care in this country, you’ll be the one with all the intelligent answers.

 

####################################

Lower Your Health Insurance Costs – Five Major Things

 

Please listen to our new MP3 about Five things to lower your health insurance costs.

 

 

Butch Zemar

Elite Benefits of America

Prepared To Survive?

Everyone knows someone who has been diagnosed with Cancer, Stroke or has had a Heart Attack. We both know that their lives changed dramatically. At any point, the last thing a family needs to have a family member get diagnosed with a critical illness. It makes matters only worse when it happens in the rough economic times we are facing today. Between employees that are being let go from their jobs and prices going up on goods and services families need just makes things much tougher, financially and emotionally.

Unfortunately, Illnesses don’t discriminate. Statistics say, within the next four minutes, fourteen Americans will have a heart attack or a stroke (www.Americanheart.org). In the same four minutes, ten people will be diagnosed with cancer and five people will declare bankuptcy because of a medically related financial hardship. (www.Cancer.org)
Let’s look at another statistic of the chances of being diagnosed:

Male                            Female

Cancer                         50%               33%
Heart Disease             33%                25%
Stroke                          12%                12%
Totals                           95%               70%

With these figures in mind, of the medically bankrupt families, only 3% result in a death from a major illness, due to the costs, according to HUD. In the recent Harvard study, seventy-five percent of the people who filed medical bankruptcy had health insurance. A couple has an 83% chance of getting diagnosed with Cancer. What are the odds that you won’t?

Fortunately, we are given a second chance at life and the probability of surviving a critical illness are more likely today than it was 20 or 30 years ago. Due to these medical advances, people are surviving the critical illness. Treatment schedules may cause you and your spouse to take time off of work. In turn, this will reduce the amount you are paid, or you will have to take a leave of absence. Unemployment can go only so long and COBRA these days are expensive, even after a stimulus package. It won’t be long before your savings and retirement funds are gone.

Thank goodness there is a solution for this called Critical Illness Insurance. It is a policy that pays one lump sum of the dollar amount you choose not tied to your income. You determine the amount you need for your family. If you go back to work, even on a part-time basis, the benefit is still paid to you for a qualifying illness. Disability insurance will not pay if you are working, has a longer waiting period and makes it harder to get policies approved if you already have health conditions.

You owe to yourself to at least run a quote to see how much it will cost for a policy for you and your family members. Some people ask me if it’s expensive… I tell them yes! It’s very expensive NOT to have it. It is not uncommon for my clients to have $200,000 worth of Critical Illness Insurance. We can even go up to $500,000, if you qualify. Your family picks what they can afford starting from a $10,000 benefit. If you already have a policy, it might be a good time for a review to make sure you have enough to protect your family.

Please enjoy the articles about Critical Illness Insurance that I have written. Plus, make sure you run a quote at www.EliteBenefits.net/CriticalIllness.

To your health!

Butch Zemar, President
Elite Benefits of America

Critical Illness Insurance – End Up Empty Handed Without It

Most Americans spend more money than they can make, leaving them with high personal debt. Families are taking out home equity loans and second mortgages to extend their spending limits. Most Americans are just a heart attack, cancer or stroke away from financial disaster.

Fortunately, with advances in medical technology, patients are no longer dying. People are outliving their illnesses and continuing on their lives. When a critical illness strikes it puts a financial toll on the family. Most people have health insurance through their jobs. However, they will either lose their benefits because they were too sick to go back to work or they couldn’t pay their premiums anymore. You can have the best health insurance policy and still have a financial problem. For most of us, we still have a financial obligation to our family. Health insurance will not pay for your living expenses such as your mortgage, utility bills or food for the family. Financial concerns impacted your health even though more people are surviving critical illnesses. This can increase stress for the illness that can prolong the recovery period.

Despite the fact disability income protection plans are widely available it isn’t enough to help people through this financial crisis. Since 1983, Critical Illness Insurance became very popular in many countries, such as the UK, Australia, Canada and the United States. It is an insurance policy that pays out one lump sum of money based on a specific qualified critical illness. The lump sum is based on the amount you need and how much you can afford. It is not tied to your income.

Is this kind of insurance expensive? No, it’s far more expensive not to own a critical illness policy. Just in case you are a little skeptical check it out for yourself by clicking here. Keep in mind not all critical illness policies are the same. Some will have certain restrictions such as waiting periods. Some will make you wait 90 days to get a check. You want to find one with the shortest elimination period. Some policies available only have the waiting period in the beginning of the policy i.e. you cannot make a claim within the first 60 to 90 days. The other thing to look out for is some health insurance companies offer their critical illness insurance as part of the health insurance. There are two downsides to this:

1) The premiums are subject to change based on the health insurance market, which could be yearly.

2) Most people are changing their health insurance every couple years. When you change your policy you will lose the critical illness policy.

Other critical illness insurance policies are on a term life insurance structure. This can have more advantages than on the health insurance ‘chassis’. There are three advantages:

1) The premiums could be locked in ten to twenty years, similar to a term life insurance policy
2) The policy is separate from your health insurance policy. This way you can have the freedom of choosing the health insurance policy that is best fitting for your family even if the policy does not offer critical illness. This also allows you to buy a policy if your employer is paying for, or the majority of, your health insurance at work.
3) The benefit will pay according to the policy in a result of a death as well. Some restrictions could apply. Refer to your agent or policy certificate.

The policy is not limited to homeowners, the wealthy or the poor. Critical Illness Insurance is for everyone. If you have to take time away from work because your spouse is now sick, critical illness coverage would eliminate the added burden of losing the income that is required to pay their bills.

The expense of health insurance could be astronomical, especially if coverage is denied or cancelled. Critical illness insurance is routinely confused with health insurance. People have become bankrupt trying to pay medical bills that were not covered by their health insurance provider. The majority of health insurance policies feature limited benefits, ceilings and caps on the yearly payouts and/or life time maximums. Purchasing a critical illness policy will guarantee your ability to meet life’s financial obligations.

So, how much coverage will you need? That depends on your situation. Your family can only determine the amount you want based on what you can afford. There are three questions to ask to determine the amount:

1) How much are your monthly expenses
2) How much is left on your mortgage
3) If you couldn’t go back to work for a while, how much would you need to continue your lifestyle.

In conclusion: Fifty percent of bankruptcies are due to medical bankruptcy. Most of them had health insurance at the time of the onset of the illness. All of us could be one paycheck away from losing everything we have worked so hard for. Unfortunately, our expenses don’t stop when our income stops. If you don’t have the ability to go back to work you won’t have a source of income. Fortunately, now you have the ability to choose the amount of the lump sum benefit, and is not tied to how much your income. Check it out today before it’s too late.

Butch Zemar
Elite Benefits of America
www.EliteBenefits.net

Critical Illness Insurance – From The Beginning

Many households are carrying more personal debt than ever. In fact, debt is at an all time high. With mortgages on depreciating homes, families are taking out home equity loans and second mortgages to get by. The financial obligation is that mounting higher and higher is just a crisis waiting to happen. Most Americans are just a heart attack, cancer or stroke away from financial disaster.

Unfortunately, illnesses don’t discriminate. Within the next four minutes, fourteen Americans will have a heart attack or a stroke. Ten more will be diagnosed with cancer. Five families will be forced to declare bankruptcy because of a medically related financial hardship. A family has an eighty-three percent chance of either the husband or the wife having a heart attack, stroke or being diagnosed with cancer. With those odds, what are your plans? Are you ready to take that kind of devastation?

In 1967, Dr. Christian Barnard was recognized for performing the first successful human heart transplant. On the same team of surgeons was his brother, Dr. Marius Barnard, whom came up with a concept in 1983 called Critical Illness Insurance. Due to the modern miracle of medical progress patients are no longer dying. He developed an insurance product that pays out one lump sum of money based on a specific qualified critical illness. Although more people were surviving critical illnesses, financial concerns impacted their health. In turn, recovery was delayed as a result from stress and other factors. Critical Illness Insurance started out in South Africa, where Dr. Barnard was from, and has grown drastically since then in countries such as Australia, New Zealand, Great Britain and the United States. Every country it has penetrated has become a huge success. Most countries Critical Illness Insurance outsell their Mortgage Protection Insurance.

Even if we look closer at the statistics:

1) Forty-eight percent of all mortgage foreclosures are due to some type of major illness, according to HUD.

2) Fifty percent of personal bankruptcy is due to some type of major illness, a Harvard University study revealed.

3) Only three percent of illnesses result in death of a major illness, according to HUD.

Even the statistics show that having mortgage protection would only help three percent of the people. Seventy-five percent of these people had health insurance, according to the Harvard University study. They either lost their benefits because they were too sick to go back to work or they couldn’t pay their premiums anymore. You can have the greatest health insurance policy and still get wiped out because health insurance is designed to cover medical expenses only. Health insurance will not pay for your living expenses such as your mortgage or rent payment, college tuition, car payments, utility bills or food for the family.

What Dr. Marius Barnard realized was despite the fact disability income protection plans were widely available, it wasn’t enough. From his personal research he discovered two things:

1) The people that lived would have been dead without the procedure

2) They were dying financially. Above all, being financially stressed took a toll on their health.

Not only is it financially devastating to not have the ability to produce an income but what about the treatment that your health insurance won’t pay for? The average household has less than $10,000 in retirement. They have no money set aside to pay for any type of critical illness. What if you had to pay out of pocket for experimental treatment that your health insurance wouldn’t cover even if it was the best thing to do for your situation? Where would you get the money?

Critical Illness insurance is for everyone. The policy is not limited to home owners or employed individuals. If your spouse becomes sick and you have to take time away from work, critical illness coverage would eliminate the added burden of not making the required income for your family to pay their bills.

In conclusion: Most of us are just one paycheck away from going bankrupt. In a moments notice we can lose everything we have worked hard for all of our lives. With the ability to choose the amount you need based on what you can afford not tied to how much your income is, your mind can be put at ease. The benefit will pay one lump sum, in most cases, for a qualified event. Some of the programs send the check within two weeks of diagnosis. There are things outside of our control that health insurance isn’t going to pay for alone. Such as experimental treatment, internal limitations or caps on your health insurance policies. Let’s not forget your mortgage, food and living expense or your child’s college education. How much would you need?

Butch Zemar
Elite Benefits of America
www.EliteBenefits.net

Lifetime Maximums – Make Sure You Are Covered

Do you really think you have $5,000,000 of coverage for the life of your health insurance policy? Take another look. Most plans, probably close to ninety-five percent, or more, have internal limitations. The limitations in these plans most health insurance agents are not aware of. Your local auto and home insurance agent? Forget it! Only the exceptional insurance agents will know. These are the ones that take the time to find this information.

There are so many internal limitations in plans I won’t be able to list all of them here. Refer to your health insurance expert. If you are on a group plan, limitations are still there – some will be higher than private insurance – some will be lower.

These limitations can range from a certain number of doctor visits or wellness coverage to $250,000 maximum coverage for organ transplant, in or out-of-network. Quite frankly, that isn’t nearly enough for organ transplants. One of the biggest limitations, and it’s one of the most expensive, is outpatient physical therapy. This one is huge. Some of the most well known carriers put these limits on their policies to control abuse of these services. It’s more like controlling costs. If you needed $20,000 in physical therapy, based on your situation, you could be vulnerable to at least $17,000 ($3,000 max benefit). Some could be as much as $19,640 ($360.00 max benefit)!

When would you ever need physical therapy? It could be for a little sprain in the ankle or wrist to as big as a heart attack or stroke. Physical therapy isn’t cheap these days. What if you broke your leg and needed to learn how to use it again, but you were well enough to be released from the hospital? You would go through rehabilitation therapy.

Some of the carriers that have such limitations are as follows, but not limited to:

-Blue Cross and Blue Shield
-Aetna
-Unicare
-Celtic

Check your state variations.

Each one of these carriers has their own limitation which varies from company to company. Where does this leave you? Vulnerable possibly? Medically bankrupt?

Since we don’t have a crystal ball we can’t predict the future. If you claim you are not worried about physical therapy I would say: Congratulations, you are officially the world’s smallest insurance company. Have you ever seen an ambulance fly by with their lights and sirens on? Do you really think they are just practicing?

By now I think you get the point. Some carriers have raised the bar on this limitation. Some have raised the outpatient physical therapy to twenty visits. If you had to go to therapy a couple times per week, that’s almost three months of therapy – that’s reasonable. Some others have raised it to sixty visits – depending on the plan you choose. To ensure that your insurance is covered, it might not be a bad idea to get a good amount of Critical Illness Insurance. Critical Illness Insurance is a policy that pays one lump sum if you are diagnosed with a critical illness. It could save your life, literally.

The Recession Hurts – Buying Health Insurance While Unemployed

With the recession upon us, unemployment has become a reality and is at an all time high. The media and organizations are getting information out to the public on how expensive health insurance can be when combined with unemployment income, or the lack of income. It is so true that health care costs are on a rise, even more so when you elect to take on the expense of COBRA (Consolidated Omnibus Budget Reconciliation Act of 1986). Fortunately, there are other options families have to choose from. Health insurance is a necessity, like food and shelter. It is not worth the “cost” of not having health insurance. With COBRA being at the high expense that it is, most people move to alternative means of healthcare, such as a Short Term Medical (STM) or their own private health insurance plan.

There is the argument that if you have a pre-existing condition you will not be able to get any coverage or have to settle for lack of coverage. This is true; if you have one of over 150 conditions out there you can become uninsurable. You will not be able to buy coverage on your own outside of the high-risk pools. COBRA has its downsides when it comes to pre-existing conditions as well. However, the most common conditions are usually covered, as well as many other conditions that could be covered, only if you work with the right health insurance agent. A truly independent agent has the ability to develop relationships with multiple carriers along with the ability to converse with them to see what the probable outcomes are. Some of my best clients are still amazed that I was able to get them coverage, often times better than what they had before despite the pre-existing condition.

Another option for families who are on a tight budget is taking on a Short Term Medical (STM). Basically, you are renting a health insurance policy for catastrophic, only over a short period of time. The health insurance companies give you a break on the price because:

1) The policies expire at a maximum of 6 months with an option to renew.
2) They may only provide a discount for the minor things such as, but not limited to:

* Doctor Visits
* Lab Work
* Wellness
* Rx coverage

The downsides to having an STM are:

1) Like COBRA, the policy eventually runs out. If you develop a health condition while on the policy and you need to continue treatment, the insurance company may turn down the renewal.
2) If the condition is on their list of conditions that are uninsurable, even if the treatment is over, a policy would not be offered for that individual.

From my experience, I can tell you that it is much safer to provide your family with more permanent coverage such as a private health insurance policy. The policy can never cancel on you due to health and usage of the policy. It will also never expire on your family. This way if you move to a new employer that does not provide health insurance benefits for your family, or if you start your own business, you can still buy more catastrophic health insurance (such as a Health Savings Account (HSA) Plan) to keep premiums more affordable and have more coverage than an STM.

The lack of health insurance can cause major problems. Far too often the uninsured delay the needed medical attention. As a result, adults can wind up with conditions that otherwise could have been prevented. The flip side is if you end up seeking medical attention, many people end up in debt over it.

There are a couple of things you can do to have permanent insurance more affordable for your family. The first you have to do is ask yourself what is the most important thing for you to insure. This is a very good question to ask. Some people may claim going to the doctor is the most important thing for them, however you cannot buy health insurance to cover just doctor visit co-pays. There is a reason for that. We don’t buy health insurance to save $70+/- at the doctor. We would buy insurance for the big expensive claims. To make it more affordable you may have to go with a high deductible. The good news is you don’t need your deductible in cash at the time of claim. The facilities are usually reasonable with payment plan options to make it more affordable for your family. Having $5k-10K out of pocket if something happened to your family is much better than having $100,000.00 bill hanging over your head for not having insurance.

Your employer is in complete control of how they distribute your health insurance coverage. This is one of the contributing problems when you become unemployed. They can make changes to the policy (i.e. deferring more cost to the employees), do away with the health insurance all together or lay you off. Unfortunately, you do not have a say so unless you are the owner or on the board of directors. It seems the problem starts when unemployment hits. In the world of health insurance, many of these problems can be prevented if families just took advantage of buying their own private health insurance policy. This way if you are employed or not, it is not a reality check. In fact, it is already factored into the monthly budget, right? You have control of the benefits by choosing the plan that best fits your needs, your wants and your budget. Work with an independent agent to be sure you have all the options.

Zero Deductible For Accidents

American Community has been around since 1938. They are an insurance company that uses its independent field force to do their advertising. They are one of the oldest health insurance providers in the country. So far, from what I have experienced they are an excellent carrier to work with.

One of the benefits I, as well as most of clients, am excited about is the accident benefit. It’s so unique that I haven’t seen it in any other policy. Most accident benefit programs are in a form of supplemental insurance. It is most common that the supplemental program will have $100.00 or $250.00 deductible and you receive a check up to $2,500, $5,000 or even up to $10,000 for each accident. Please note that the benefit is chosen when you sign up for the policy and is only paid up to your exposure at the time of claim. If your exposure is zero, you don’t get a check. On top of this, you are paying additional premiums for the benefit.

American Community has their accident plan built into all of their plans, at no additional cost! They waive the entire deductible at the time of claim. That’s better than receiving a check for your exposure. The covered charges are then paid at your selected co-insurance level, i.e. 80%/20%, 100%. The only catch to this is you have to seek treatment within the first 30 days of the injury.

Some may argue that you still have exposure due to the co-insurance. I would agree with that statement. However, if you add up all over exposure you are anywhere from $4,500-$9,000 out of pocket, typically. This is the reason I would advise my clients to go with a higher deductible, such as $5,000 or move to American Community’s HSA Plan. We would then choose the 100% co-insurance. This way you would have 100% for the accident benefit. As an added bonus, if you elect a $5,000 deductible or higher on their standard plan, American Community will lock the premium rate in for 24 months – at no additional cost!

In summary: You reduce your overall exposure by increasing your deductible. Add the 100% co-insurance, and have your deductible waived for an accident. From there my clients add in a decent amount of Critical Illness Insurance to eliminate their exposure from a critical illness, possibly enough to pay off their mortgage and take some time off of work to insure they will gain their health back, stress free. Refer to your local agent and plan details.

Butch Zemar
Elite Benefits of America

http://Blog.eliteBenefits.net

Save Money By Shopping – Alternative to Keeping Healthcare Costs Low

The healthcare industry is finally acknowledging that there is cost shifting to the patients in terms of their healthcare, such as prescriptions. This forces the patients to find alternatives. It is an interesting point because most people do not know they can shop healthcare. Some think that Walgreens® can get a better price on drugs because they are on every corner in America.

Every pharmacy buys drugs at different prices. On that statement alone we should shop around for our prescriptions. At times your regular pharmacy isn’t the best spot for certain medications.

To top this off, many of the brand name companies make their own generic with the same active ingredients. If that is the case, why wouldn’t people switch to a generic drug and save everyone money? Good question! I often wonder that even with a generic co-pay being $10.00 on many health insurance plans these days, if you can get it for less why wouldn’t you? Lots of places like Wal-Mart® and other chains are offering generics for under $10.00.

Originally, our health insurance plans gave us incentive to ask for the brand drug due to the lower co-pays. The brand drug wasn’t that much more for the patient compared to the generic. It’s like getting the name brand item in your local grocery versus the generic for only pennies on the dollar more. The pharmaceutical companies capitalized on this by giving incentives all the way down the line to the doctor prescribing the medication.

The other issue Americans face is that many of us are treated for symptoms of the problem without getting to the root of the problem. Sometimes just avoiding certain foods can change the outcome of your health. If action is taken on your part you could possibly eliminate the medication altogether. You could be on your way to a healthier lifestyle.

With more and more Americans being responsible for their own healthcare in one way or another, it forces us to do something different. This not only goes for our prescription drugs but our treatments as well. Sometimes just by asking for a discount the facilities will give it to you. If you shop around for that test you have been putting off you might find it for less due to competition.

Now we all can live a better, healthier life.

To your Health!

Butch Zemar
Elite Benefits of America ©

Employers Cut Healthcare Cost By Fifty-Percent or More – Tax-Free

How would you like a way to save fifty-percent, or more, by giving your employees Tax-Free dollars to buy their own “private” health insurance policies? The most serious economic challenge facing businesses today is reducing the cost of healthcare. Far too often employers are drastically reducing healthcare benefits and deferring more of the monthly and yearly costs back to the employees and their families. If your company is providing group health insurance, you need to know about the changes in the law that have created the most dramatic and money saving opportunities since World War II, when employers were first allowed to provide tax-free health insurance benefits during the rate freeze.

In today’s business world, employees are quick to go elsewhere if they see a better career opportunity. Providing good benefits is essential to retaining the best employees, but group health insurance can be too expensive for some small business owners to sustain.

A Health Reimbursement Arrangement (HRA), sometimes called “Section 105 Plans”, allows you, the employer, to reimburse your employees for their individual health insurance premiums and/or expenses, taking you out of the middle. Employees will carry their own private coverage which is totally portable and not tied down to their employment. Your employees will also love the fact that they now have the benefit of guaranteed health insurance for life, even if they become too sick or hurt to work, or decide to retire early. Premiums cannot be raised, nor can policies be canceled because of a catastrophic illness, injury or job loss. The employees will each get to choose the insurance plan and plan options, such as deductibles, that best suits their family’s needs. It also allows your employees and their families to work with a health insurance expert to get the best value for their situation. Many are choosing Health Savings Accounts as a way to further reduce their health insurance costs. Once everyone is approved they will have permanent coverage that is not tied down to their employment. And you, the employer can get out of the health insurance business, for good.

Employers will no longer be required to administer the plan, and you no longer have to shop it every year with an HRA established. This gives the employers the ability to get rid of their overpriced and profit-draining group plans and give tax-free dollars directly to their employees through an HRA. The employees can purchase their own better, safer and permanent private health insurance polices. The savings can be huge with premiums averaging fifty-percent less than typical employer-sponsored plans. HRAs, along with HSAs, represent the newest and most cutting-edge development in the employer-sponsored health benefits. While usually a high-deductible plan is chosen for the insurance portion, there is no requirement to do so, and any approved plan can be used. When employees carry their own private health insurance coverage, there are also no COBRA issues to deal with when employment terminates.

HRAs represent the future of health insurance in America. They are the only employee benefit vehicle allowed to pay for premiums on individual health insurance! Best of all you, the employer, decide how much of an allowance you want to provide and your contributions are completely tax deductible for you and tax-free for your employees! Congress created the HRA as the newest consumer-directed plan designed to cover medical expenses and it is subject to IRS regulations and guidelines.

Employer funds are used to reimburse employees for qualified medical expenses in accordance with the pre-established employer arrangement. The arrangement specifies a dollar-limit for the amount of qualified expenses that will be reimbursed to an employee each year. The arrangement also usually specifies that any unused allocation of funds can be accumulated and carried over for use next year. IRS requirements for qualified medical expenses also apply. Employer payments are a tax-deductible business expense and reimbursements to employees are tax-free. Availability of plans is limited to the qualified plans offered by insurance companies conducting business in your State.

Since the employer owns the funds until presented with valid receipts, there are no actual funds accumulated that employees own to rollover to a new employer or take with them if they leave the company. An employer could continue to reimburse a former employee if he chooses to do so, such as retirement.

As for the forty-something percent of employers, and growing, who do not offer group health insurance because it is too expensive, now there is an affordable solution; give your employees tax-free money to buy their own, better coverage at a fraction of the cost of group insurance.

Why are so few employers taking advantage of them? That is a great question! It is surprising that very few attorneys, accountants, insurance agents, benefits administrators or benefits consultants are even aware of these new “defined-contribution” plans, but that does not mean that you need to continue wasting thousands of unnecessary dollars every year on health insurance and double-digit rate increases! (Have your tax advisor refer to section 213(d) of the Internal Revenue Code. Health insurance premiums were added to 213(d) in 2004 as allowable tax-free reimbursements from employers)

In conclusion: This is great news for Employers. They can finally get out of the health insurance “business”. If you want to finally escape your “health insurance nightmare,” yet still attract, retain and have outstanding and grateful employees. You create these savings through a Health Reimbursement Arrangement (HRA). Employers can save as much as fifty-percent or more on their healthcare costs. This gives the employer flexibility and cost savings for the health insurance and the employees can purchase their own better, safer and permanent private health insurance polices. Health insurance premiums cannot be raised, nor can policies be canceled because of a catastrophic illness, injury or job loss. The employees will each get to choose the insurance plan and plan options, such as deductibles, that best suits their family’s needs. On top of all of this, the employer gets a tax break for contributing and employees receive the benefit tax-free. This will increase profits and your employees will be much happier. What more can an employer ask for?

Butch Zemar

HRA/HSA Expert

www.EliteBenefits.net

Blog.EliteBenefits.net

Interesting Article from WSJ

I found this article on the Wall Street Journal’s website. I think it’s interesting despite the fact I don’t believe everything they say as fact. That’s reporters for you.

http://online.wsj.com/article/SB122887085038593345.html

-Butch Zemar

Butch Zemar – New Articles

New Articles have been posted. Check them out:

http://ezinearticles.com/?expert=Butch_Zemar

Insurance Professionals – An Independent and Trusted Advisor

As we mature and grow it can get harder to know who we can trust and depend upon. When we are young it is the foundation of our security that our family, teachers, and loved ones advise us impartially and with our well being at heart.
But, when dealing with the many complexities of life, advice is harder to come by and even harder to trust. Knowing when to ask for help and using good discretion in choosing who to trust is an invaluable life skill. One good rule of thumb when choosing an advisor is to look for independence and experience. This is vitally true when you enter the complex arena of health insurance for the first time.

Obtaining health coverage at any time in one’s life is a complicated and time consuming process. But it is much more involved when you are doing it as a young adult, just leaving the safety of your parent’s coverage, and seeking coverage for yourself for the first time. Graduating from college, getting a job, and signing up for your employer’s health care plan all used to come in logical progression. But, today, many employers are eliminating health care coverage from their benefits package and many young people will go to work in one of the millions of small businesses who can’t afford to offer health insurance. Thus, shopping for and acquiring coverage is a rude welcome to the adult world for many young people. Just who can you trust to give you the best advice and recommendations? In the health insurance industry there is a valuable resource with no hidden agendas that offers sound, impartial, and independent guidance—an Independent Insurance Broker.

An Independent Insurance Broker is an agent that owes no allegiance to any specific carrier, nor do they represent any one company. An Independent Broker can be the mentor every young person needs when first purchasing insurance coverage. Rather than opening up the Yellow Pages and calling an agent that offers only one company’s coverage, they can turn to a Broker who can research all the relevant companies and make the recommendation that can give them the insurance and financial security they need. It is all a matter of trust.

An Independent Insurance Broker is, by virtue of years of experience and impartial commitment, an expert at finding the right coverage for the best value. In addressing life skills with it’s young people, many college placement advisors and counselors are including information about how to find balanced and impartial legal, insurance, and financial advice for its graduates. Insurance brokers can be the difference between years of medical and financial strain and the beginning of a responsible and successful life.

A young person needs mentors to succeed in life and they can find such a mentor in an Independent Insurance Broker. At their jobs, recent graduates will find the guidance they need in their more experienced co-workers who have learned the ropes from their more experienced co-workers. The right of passage in learning from the adults who came before them is evident in every phase of life.

Health insurance is something that many young adults take for granted because Mom and Dad provided coverage and it is surprising how little many graduating seniors know about health insurance. It isn’t something they have ever had to deal with and the experience Mom and Dad have with insurance may be equally lacking because they have always had employer sponsored health care coverage. But the world our young people are entering is a lot different than Mom and Dad’s. The demands and decisions they have to make are in many ways more complicated. Independence and a lack of agenda are the hallmarks of Insurance Brokers and they answer a critical need—unbiased recommendations.

When the stakes are so high, parents and educators owe young people not only the benefit of their experience but up-to-date solutions to today’s problems. One of these solutions is going to an expert and independent Insurance Broker the guidance to start adult life off on the right foot with the best health insurance coverage.

-Butch Zemar

Keeping Health Insurance in Tough Times – Three Things You Can Do To Lower Your Costs

Concerned that some self-employed, small business owners and even employees may be scrimping on essential healthcare benefits during the current economic turmoil? Maybe it’s your own business and you do not offer insurance but you are concerned for your own family. With family budgets strained by higher fuel and food costs, people are filling fewer prescriptions and visiting the doctor less often. The cost of medications and physician doctor visits are on a rise when families are putting together all they have to eat and keep a roof over their heads. When people are worried about the costs of living and about whether they will have a job tomorrow, they are reducing their prescription drug intake, particularly those drugs that do not have a symptom-relieving effect.

If your income decreases because of a lack of business profit, layoff, disability, illness, etc., your family may find it extremely difficult to pay insurance premiums. If your monthly budget is tight or you are not able to make a payment, you need to determine your minimum needs for insurance. It is very important to review your insurance coverage. At times, families have been on a policy for a certain length of time and they do not realize that even reapplying for the same coverage can lower their premiums to more affordable levels. However, the coverage they have had may be inadequate for today’s unforeseen events. This is a reason to work with a true health insurance expert to bring you all the options that are available to you, in order to lower your premium without jeopardizing coverage. Someone who does not review these items on a daily basis may either get themselves into something they wish they had not; or they may have missed another opportunity for better coverage by not realizing there were other options available to them.

Although you cannot eliminate risk from your life, you can postpone, minimize or control some losses. By looking at the numbers closely you may end up coming out ahead just by making minor adjustments on your coverage. Using higher deductibles (the amount of money you agree to pay per year before the insurance company pays for a claim) is a great way to lower your premiums, however, try not to get out of hand with your exposure.

A comprehensive insurance review with your agent every year to two years will help you determine whether you have adequate, or perhaps too much, insurance coverage.
Insurance is the primary way you protect yourself against financial loss caused by illness, accidents and other unknown events. Premiums are paid to an insurance company that in return pays for the losses that may occur. You have to make sure you have enough in all the right areas while keeping the monthly premiums affordable.

Some of the things to review:

• Only insure for the things you cannot afford, i.e. Emergency Room, Hospital, etc. Pay for what you can afford, i.e. doctor visits and lab work – your auto insurance does not pay for your oil changes or diagnostic testing, now does it? Does your homeowners insurance cover the cost of changing your furnace filter? Why is health insurance any different?

• Ask your doctors if they are willing to work with you and Ask for the discount. I have found people do not even know you can get additional discounting from your doctors and hospitals. Sometimes you have to play hardball to get the bills more affordable for you. Remember, they do not know what your pocket book looks like. Also, you do not know what they are willing to do unless you ask. Most places are willing to work with you.

• Talk with your doctor about alternative medications. Is there a possibility of eliminating the medication altogether or possibly switching to a generic form? Most brand companies make a generic form with the same active ingredients.

Employees have a natural tendency to transfer the burden of medical costs on to the employers. They either do not realize or do not care about the cost that is involved to have those kinds of benefits. Many also do not realize what causes their employer sponsored health insurance premiums to raise. Some employees abuse and overuse the insurance offered to them, and this is what drives the premiums up for all of the employees on the plan. There is no free lunch. If you no longer have a job or your new job does not provide benefits, what are you going to do then?

Employers have been so preoccupied about the economy in general from a business perspective that they may not realize some of the changes that have gone on in the health insurance industry. There are many ways to cut cost for employers as well as the employees. It might be a good time to have the Human Resource department take a review on the way the company does things. Just like most things we have to do today, they may have to step outside of what they are used to, in order to meet the ultimate goal.

In conclusion: It is always a good idea to review your insurance with an insurance expert. Make sure the agent is an expert in the type of insurance you are reviewing. It is very common that you will find that your local auto and home insurance agency usually do not work with health insurance on a daily basis (most of them try to avoid health insurance). Also, make sure they represent the majority of the carriers in the market place. There are agents that are independent but are fixed only to a few carriers. This greatly reduces your options. Reviewing your policy with an expert will most likely ease the financial pain of the monthly cost and possibly reduce your overall healthcare cost. There might be things in your policy that you may never be using even though you are paying for it.

-Butch Zemar, President
Elite Benefits of America

$0 OUT-OF-POCKET HEALTH INSURANCE TO BUSINESS OWNERS

FOR IMMEDIATE RELEASE / PRURGENT

Elite Benefits of America, a national agency for providing leading-edge health insurance options, is now offering a customized insurance program that waives deductibles in the event of an accident or injury and reduces the insured out-of-pocket expenses to $0 at the time of service.

By taking advantage of competitive rates and savvy solutions that some insurance companies are offering to individual and small groups and combining these with the out-of-pocket savings realized by establishing a Health Savings Account, it is more than realistic that at the time of illness, the stress usually accompanying a family crisis will not be compounded by worries about the financial consequences of rising out-of-pocket costs demanded by insurance companies in the United States.
“Most self-employed professionals do not realize that the current IRS code allows full deduction of premiums, as well as funds in your personal Health Savings Account,” says Arthur “Butch” Zemar, President of Elite Benefits of America. “It takes the proper set up and execution of these plans to get the greatest tax and out-of-pocket expense benefits,” Zemar continues, “and if you are dealing with insurance generalists, it is probable you will not be given all the options for long-term financial asset protection.”

With more financial options than those professionals who depend on employer-provided health care insurance plans, the entrepreneurial self-employed professional, working with a health insurance specialist, can realize the benefits of “full funding” of HSA (Health Savings Account) and choosing the “Embedded Deductible” when a family member is currently dealing with a chronic or long-term health concern.

While most independent insurance brokerage firms offer a full-range of insurance, the growing trend is for Health Insurance Specialty Brokerage firms, like Elite Benefits of America, who dedicate their resources in marketing, training, and product offerings to Health Care Insurance. “With currently over 47 million Americans not currently insured, and the rising numbers of the uninsured due to the current economic condition, small business owners and the self-employed make up a sizable amount of these uninsured,” reports Zemar. “They are unaware of the financial benefits we can provide, along with the security and peace of mind that having health care insurance can offer.”

Currently, Butch Zemar is presenting this valuable information at Chicago-area Chambers of Commerce and Community and Professional Organizations. With tenure and specialization in the Health Care Insurance industry, Butch Zemar and his team at Elite Benefits of America is expanding its client base throughout the Midwest. For more information or to request a health care insurance presentation at your community event, please visit www.elitebenefits.net or contact Elite Benefits headquarters at 888-535-3006.

About Elite Benefits of America – Elite Benefits is a nationally recognized marketing and sales organization that recommends and provides intelligent solutions to the rising costs of health care insurance. By publishing articles, e-reports, e-books and CDs that offer comprehensive information on the continually changing health insurance industry. Butch Zemar, President of Elite Benefits has been presenting this valuable information to Chamber of Commerce and Chicago Area Community events.

Website Link: http://www.elitebenefits.net

Health Savings Accounts – The Information YOU Need to Make an Informed Decision

Health care costs are escalating to an all time high for many reasons, including new medical technologies that increase life expectancy, medications that increase quality of life, increasing number of patients with chronic illness, over-utilization of health care and administrative waste. Everyone is challenged by health coverage rates increases, and is searching for reasonable ways to control costs. Changes in the practice of medicine, as well as consumer preferences, also affect the way health care dollars are assigned and spent.

The implementation of a Health Savings Account eliminates any type of Co-pays, Service Deductibles and has only one family deductible vs. multiple family deductibles like your current policy. This has an advantage due to the entire family accumulating to one deductible (and possibly co-insurance). Once the deductible and co-insurance maximums are met it’s 100% for the remainder of the year (Calendar or policy year, read your policy or check with your Health Insurance Specialist) for the entire family.

2008 IRS HSA requirements for an HSA:
Annual HDHP Deductibles
Minimum’s: Single $1,100 and Family $2,200.
Maximum OOP (Out-of-Pocket) Single $5,600 and Family $11,200.
Maximum HSA Yearly Contributions:
Single $2,900 and Family $5,800

NOTE: Not all plans are HSA qualified. This is typically a High Deductible Health Plan (HDHP) that is filled with the department of insurance meeting all the mandated requirements set in place to be HSA qualified. Check with your health advisor to make sure you find one that is qualified in addition to the things listed previously in this report.

That’s not even the best part. Everyone needs Health Insurance to cover medical expenses, future as well as current. The best part is you get a tax break of the amount you put into your account equivalent to your tax bracket. Another words, the more you make, the more you can deduct from you over all taxes. This concept is very similar to an IRA. Now if you are self-employed, you know you have the ability to deduct your health insurance premiums. Thus, bringing your over all Health Insurance costs down to a more manageable level or in some cases get it for FREE, or pretty close to it.

Here is an example: Family of 4, 40 year old male non-smoker, 38 year old female non-smoker and 2 kids, paying $3,600 per year. For a family the max you can contribute to your HSA account is $5,800 for the year. If you were in a 30% tax bracket (most who read this will be in a higher one) this is giving you a tax benefit of $1,740.00 for the year for your contributions. If you are self-employed and deducting the premiums as well this will give you an additional $1,080.00 per year. This brings your total yearly savings to $2,820. Your net cost on paying $3,600 on your premium is $780.00 per year for the entire family. If you break it down it would be $65.00 per month, or $2.17 per day. That’s the cost of a can of pop and chips per day. Wouldn’t you say that’s affordable? There is no excuse why your family shouldn’t be without insurance.

Now take a single male, Johnny, striking it on his own on his Million dollar idea. Let’s say he is 31 years old non-smoker. His yearly premium is $1,020. The max an individual can contribute to your account is $2,900. This will give him a deduction of $870.00 on his contribution and $306.00 from his health insurance, for a total savings of $1,176 per year. Johnny’s net expenses is $-156.00. In other words, the government is allowing him to deduct a qualified tax expense and get his Health Insurance for FREE! Now he can run his business without the fear of losing it if something happened to him and he was stuck with the medical bills.

But what about my co-pay?

Believe it or not, I just saved you approx. $2,800 for the year on your family’s health insurance and someone is worried about the Co-pay. “But, what if my doctor visit is $1,000 or my lab work was $2,000.” If your doctor visit or lab work is that much, either you have something serious going on or you have to find a doctor that isn’t over charging for services. Believe it or not people have said this. Most people have no idea what doctors charge. The average adult goes to the doctor less than 2 times per year (unless their employer is paying for it giving you incentive to use it by not seeing what it truly cost for those benefits. Children may go a few more times than the adults. The average doctor visit in America is approximately $100-120 per visit, depending on where you live. If we used $100.00 for example, if the parents go 2 times each and the kids go 4 each, that’s only $1,200 for the year. Keep in mind, this is being deducted from your calendar deductible. Also, if you really needed to you can use a portion of the $5,800 that you contributed to your HSA account.

MY BEST ADVICE: Fully fund your account every year. DO NOT wait until April 15th, tax day, to contribute for the previous year’s tax return (the government allows you contribute up to tax day for the previous year). The reason for this is you are missing out on your TAX-FREE growth of your account due to it being interest bearing.

And you say health insurance isn’t affordable?

Now, let’s not get a head of ourselves here with the savings we have here. You may have saved over all monthly premium compared to your previous plan by switching to an HSA. I wouldn’t recommend going out and buy a new car, new fishing boat or spend it on a luxury vacation. I would recommend investing it in your family.

First, take a portion of the savings and buy yourself and your spouse what’s called a Critical Illness insurance policy. This a policy that writes you a check for the amount you choose based on what you can afford, not tied to your income when diagnosed with a critical illness such as cancer, stroke or heart attack. Wouldn’t it be better to pay off your house at a time like this instead of losing your house? Granted, even on the HSA plan you cannot deduct Critical Illness Insurance or Life Insurance premiums for tax purposes or use your Account to pay for the premiums. More important than tax savings you are protecting your income and your assets. Your income and assets are what supports your family’s lifestyle. The remaining premium savings should go towards other long term investments such as Long Term Care, college funding, IRA or other Retirement Portfolio and whatever else you need to help your family to live more comfortable and secure.

Butch Zemar – Elite Benefits of America – Video

Health Insurance Deductibles – Costing You More Than You Think

When it comes to Health Insurance, some families are confused about their deductibles. Without the right guidance this could cost you a fortune at claim time. If your family doesn’t have anything going on outside of doctor visits you could be over spending on your insurance policy. At that point, the insurance company gets to keep the over spent premiums.

The deductible is the amount you pay in a single year before the insurance company kicks in. Be careful of plans out there that claim they are based on a 365 day period. If you read the next line it says for EACH Injury or Sickness period of treatment. This means if you have 2 completely different ‘periods of treatment’ in one year you will be exposed to two separate deductibles!! If you have what they call ‘Calendar Year Deductible’ once your deductible is satisfied for the year there are no more deductibles. This is outside of ‘out-of-network deductibles’ or ’service deductibles’.

The out-of-network deductible is the insurance company’s way of penalizing you for going out side of a preferred provider network. Usually this deductible can be anywhere from $2,000, or more commonly, twice your original deductible. Of course, this is in addition to your in-network deductible. The problem is that even if you’re admitted into an in-network facility for a scheduled surgery… the surgeon, pathologist, radiologist or anesthesiologist may not be a participating provider in your network… and you could easily be stuck with an additional $5000 or more out-of-pocket. There are only a few insurance carriers out there that do not have out-of-network deductibles. Once it is satisfied for the year, in-network or not, it’s satisfied, period. Check with your Health Insurance Specialist on these carriers.

Unfortunately, too many insurance agents like to steer their clients toward low deductibles like $500 or $1000. These are the absolute worst values! The lower the deductible, more the premium you have to pay each month.

Since agents get paid a percentage of your premium, in turn, the lower your deductible, the bigger their commission! Obviously, the agent has a financial disincentive to save you money. Be suspicious of insurance agents that recommend health insurance deductibles under $1500!
Affordable plans have deductibles of $2500 and up. The higher your deductible, the lower your cost. In fact the money you save will almost always far exceed any potential additional out-of-pocket expenses!

Conclusion: Work with a Health Insurance Expert. They will walk you through affordable options to lower your premiums to keep them affordable. Usually, your premiums savings will offset any potential out of pocket expenses. There is no point of over paying your policy ‘just in case’ something does occur. When that ‘just in case’ occurs you would have saved enough hard earned premium dollars to offset the out of pocket expenses.

By: Butch Zemar, President

Health Insurance – Changing World Forces You to Seek the Experts

Years ago, acquiring your first health coverage was almost a right of passage. You began your career and you were automatically enrolled in your employer’s health plan. That still takes place today but the health care industry has moved into a gigantic monster gobbling up resources everywhere. Rates keep going up at an astounding pace and more employers are cutting back on their plans or doing away with their health benefits entirely. Where does this leave you?

The most important tool you can have when looking for good health insurance is knowledge. Unfortunately, there aren’t too many places where you can obtain that knowledge without having to spend months (or even years) going through the small print. This is why you should consult with a specialist, a true expert. Your local Auto Insurance guy or gal may not be the answer.

A word of caution: Do not rely on employer-based group insurance. This could be a threat to your financial future. How long do you think an employer will keep you on the pay-roll and provide benefits if you are too sick or hurt to work? Eventually the company will replace you and you will lose the benefits along with it. Sure, they may offer you COBRA (Consolidated Omnibus Budge Reconciliation Act) to continue your coverage at your own expense. Usually, these premiums are quite high and will eventually run out. Then what? You may qualify for the High Risk Pool of your state but this could be just as expensive and in some cases more. This whole problem can be prevented with the right knowledge.

Our Health care system does not make a direct connection between receiving a service and paying for it. Instead, a third party actually processes and pays the bill. This could be the insurance company or plan administrator. The consumer never sees the actual price of these services. The consumer is usually only aware of the amount of his or her co-payment or their deductible, rather than the full price for Doctor Office visits, lab tests, etc. The co-payment seems to be the price most know. As services become more expensive, the consumer does pay for the increase indirectly, through higher deductions from wages for health care or their benefits reducing by going with higher co-payments or deductibles. The result is that premium costs are pricing health care out of reach for employers and individuals. Dissatisfaction with the lack of choice in care and financing adds to the precarious state of health care coverage.

Conclusion: Since our Economy has changed there is no guarantee that you will have a job with the same employer until you retire. The employers that are dropping their health plans all together to stay in business is increasing each year. Our chances of having the employer-sponsored health plans are slowly going away. Just like with any change, you have to prepare. In order to be prepared you have to obtain more knowledge specifically to the area of change. Most of us are so busy in our everyday lives that it’s hard to take time away from our family and work to learn more. This is why you should consult with a health insurance expert when it comes to your health insurance.

By: Butch Zemar, President

Your Health Insurance Is Gone, Now What?

Do you know someone who has suffered a heart attack, a stroke or has had cancer? If there was a program which would have written them a check for $10,000, $20,000, $25,000 or more, do you think it would have had a better impact on them – at least financially? What if in six months you or your spouse suffered a critical illness – how would that impact your family?

Ninety-five percent of men and seventy percent of women will suffer from cancer, stroke or heart attack during their lifetime. A married couple has an 83% chance of one of them getting cancer. The first 3-6 months are critical. Your expenses can range anywhere from $13,460 to as much as $50,000. What about the things that aren’t medically related. You still have a house to take care of, a family to feed, maybe a wedding to pay for or college tuitions. What if this happened to you or your spouse? How prepared are you?

Bill Clinton said it best back during his presidency “Millions of Americans are just a pink slip away from losing their health insurance, and one serious illness away from losing all of their savings. Millions more are locked into the jobs they have now just because they or someone in their family has once been sick and they have what is called the preexisting condition. “

A fairly recent Harvard study states that 54.5% of all bankruptcy filings are due to medical bankruptcy. Most of them were middle class and nearly three-quarters of them had insurance. Often illness led to job loss, and with it the lost of health insurance. Out-of-pocket medical cost (such as co-payments, deductibles and uncovered medical services) averaged $13,460 for those with insurance at the onset of their illness, vs. $10,893 for the uninsured. In many cases, high medical bills combined with a loss of income as illness forced breadwinners to lose time from work.

Most of the medically bankrupt were average Americans who happened to get sick. Health insurance offered little protection at the time of the onset of the illness. Families with coverage had unaffordable co-payments, deductibles and bills for uncovered items like physical therapy. Even the best job-based health insurance often vanished when illness caused job loss precisely when families needed it most. “Too often, health insurance is an umbrella that melts in the rain.”

The study mentioned uncovered items like physical therapy. In just about every major medical, employer or private insurance has a separate limitation on physical therapy. How much do you think physical therapy cost now a days? Some of these limitations are lower than the average deductible or even worse insurance companies only pay up to a small number of visits or only $25-$30 for each visit. Now, you pay the difference.

The biggest question here is how prepared are you? How protected is your income as well as your assets? What if you did lose your job due to a critical illness? There are programs that will write you a check for an amount you choose, based on what you can afford, not tied to your income. The investment is small compared to the benefit of receiving that check when your family needs it the most.

Butch Zemar – President

Elite Benefits of America

Employer-Based Group Insurance or Your Own Individual Policy – What’s Better?

Have you ever thought about what might happen if you suffered a serious illness or injury, couldn’t return to work and as a result, lost your job along with your employer-sponsored health insurance?

This is what happens to millions of Americans every year and the financial consequences are devastating.

Up to ONE MILLION mostly middle and upper-middle class families are forced to file bankruptcy every year due to medical bills they cannot pay-even though nearly 80% had health insurance (mostly through work) at the onset.

Employer-based health insurance is the leading cause of personal bankruptcy in America… accounting for as much as 50% of all annual bankruptcy filings!

Once “sick days” and vacation time are exhausted, few employers can afford to continue paying salaries and provide health insurance benefits for absent employees… especially while providing the salaries and benefits of their replacements! Soon these unfortunate employees are let go and their financial problems escalate beyond control.

Even people who have retired with employer-sponsored health benefits are in danger of losing them, as more companies renege on their promises to retirees.

SOLUTION: The “INDIVIDUAL” health insurance market is in the midst
of a huge growth spurt and is rapidly replacing employer-based group insurance because privately owned individual health insurance is…

1. PERMANENT… once you own a policy, you cannot be singled out for premium increases or cancellation because of frequent “claim activity” or deteriorating health.

2. PORTABLE… the policy is not dependent upon where you work and since you own the policy, you can take it with you from job to job… or keep it if you start your own business.

3. AFFORDABLE… individual health insurance policies typically cost 50% to 75% less group insurance! Insurance companies offer huge discounts to people buying their own individual policies because, unlike group insurance, they only have to accept the folks that are relatively healthy-approximately 80% of all applicants-and can afford to charge much lower prices as a result.

By the way, in case you or someone in your family is among the 20% unable to obtain private individual coverage in the open market… don’t despair! You can still get “state-guaranteed coverage” for the unhealthy family member-a much safer scenario than remaining on an employer-based group plan-while the rest of the family enters the 80% pool of healthy policyholders.

As for those of you that receive “free” health insurance at work, an individual policy is much safer since you will not lose your coverage if you lose your job… but that’s your call. However-and this one’s a no-brainer-if you pay extra to your employer in order to cover your spouse and children on the company plan, you could be saving thousands of dollars every year by taking them off the group plan and buying them their own individual policy. They’ll also be a lot safer because they will no longer be at risk of losing their health insurance if you lose your job!

Over the last several years, new legislation and regulations have dramatically altered the health insurance industry. However, very few employees, employers, self-employed individuals… or even insurance agents (!) are aware of the major changes taking place and the opportunities to solve much of America’s “healthcare crisis”.

For example, did you know that employers finally have the option of getting out of “the health insurance business” and-once and for all-ending their health insurance nightmare through a Health Reimbursement Arrangement? They can now allow their employees to buy their own permanent, portable and much more affordable individual health insurance policy, and reimburse each employee for some or all of their monthly premiums on a totally TAX-FREE basis!

Health Care Crisis Out of Control

Some say this health care crisis is getting out of control. Finding the best value when it comes to health insurance there are 7 things to look for.

Pre-existing conditions – This is conditions that are diagnosed, past or present. Most insurance companies won’t cover pre-existing conditions for 6-12 months. This might surprise you. Ask yo0ur agent to SHOW (not tell) you what the pre-existing clause states in your policy.

The Sucker’s Bet – These are benefits you pay more in premium for, supposedly added value, so the insurance company can give it back to you later. Insurance companies are in business to provide benefits, at a profit. They are not giving anything away for free. So why give your money away “just incase” something happens. Good examples of this are Doctor Visits and Maternity Coverage.

Exclusions – Don’t ever assume that everything is covered. After your agent finishes telling you what is covered, ask him/her what is NOT covered.

The deductible – Be suspicious of insurance agents that recommend health insurance deductibles under $1,500.00. The money you save with higher deductibles will almost always exceed any potential additional out-of-pocket.

Co-insurance – Over whelming majority of policy holders have no clue the importance of the “stop-loss” (the amount you pay after your deductible). These people often wind up owning policies with extremely high co-insurance maximums. Your out-of-pocket could be unlimited. Read your policy.

Separate limits – Despite the lifetime max of the policy – many policies restrict the most the insurance company will pay for specific medically necessary services.

Lifetime Maximums – You should be covered for at least $2 Million. However, be careful with a serious illness or accident, you could exceed $2 Million. Also, look out for misleading $5 Million lifetime but cap out $500,000 – $1,000,000 per Injury or Sickness.

There are several ways to keep insurance premiums affordable while making sure your family is protected. Currently there are tax savings benefits that could off-set your premiums making it more affordable for the family.