COBRA allows you to temporarily continue your employer sponsored health coverage (albeit at a relatively high cost) in the event that you are laid-off or otherwise become out of work. However, while continuing health coverage may be right for some people, there are other options that you can and should consider.
COBRA will likely be the best option for you if:
1) You or a member of your family is currently pregnant.
or
2) You or a family member have a pre-existing condition that would make it difficult to be accepted in an individual health policy, or would include a rider that would not cover treatment related to the health condition.
However, If you and family members seeking health insurance coverage are relatively healthy there are other options that you should consider that will likely be much more affordable and with a comparable set of benefits.
Alternatives
1.) You can compare individual and family health insurance plans side-by-side here at www.californiamedicalquotes.com and select the plan that best fits your needs.
2.) If you alone have a pre-existing condition, you can stay on COBRA, but enroll your other family members in an indiviudal health plan to save money.
3.) If you believe that you will be unemployed for a short period of time (less than 6 months) you can enroll in a short term health plan. However, this is a more risky proposition if your unemployment lasts longer than expected.
4.) Research whether you can get health coverage through any association groups for which you are a member.
Not all alternatives will be right for every family’s situation, but there are options available to consider.
Generally speaking, COBRA will allow you to continue coverage for 18 months. California residents who work for smaller companies may have other rights that can include continuing coverge for up to 36 months.
It’s worth a few minutes of your time to review all the possible choices. Call us at 800-550-0155 or go to www.californiamedicalquotes.com.
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Posted in California Health Insurance
2009 Low Income Subsidy (LIS) Premium Benchmark Subsidy Amounts
These are the benchmarks for stand alone PDP’s. This determines how much premium would be WAIVED if a Medicare Beneficiary qualified for a Low Income Subsidy (LIS) in each state. (Carlifornia is region 32).
2009 low-income premium subsidy amounts:
Region State(s) Subsidy
1 NH, ME 28.12
2 CT, MA, RI, VT 31.74
3 NY 27.71
4 NJ 30.99
5 DE, DC, MD 30.85
6 PA, WV 29.23
7 VA 31.72
8 NC 33.45
9 SC 32.01
10 GA 29.16
11 FL 21.47
12 AL, TN 29.80
13 MI 32.08
14 OH 28.40
15 IN, KY 33.95
16 WI 38.15
17 IL 30.18
18 MO 31.89
19 AR 26.89
20 MS 31.53
21 LA 27.48
22 TX 25.36
23 OK 29.36
24 KS 33.66
25 IA, MN, MT,
ND, NE, SD, WY 33.19
26 NM 20.55
27 CO 30.17
28 AZ 16.22
29 NV 20.20
30 OR, WA 31.76
31 ID, UT 37.46
32 CA 24.86
33 HI 25.01
34 AK 36.00
You can go to our Medicare site, www.californiamedicareplans.com for more information on the Medicare Prescription Drug Plans (PDP) or call us a 800-550-0155.
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Posted in California Medicare Insurance
I’ve spoken with many Medicare beneficiaries who are confused with the annual open enrollment for the Medicare Prescription Drug Plan - PDP - and when they can change or buy a Medicare Supplement.
Unlike Medicare Advantage and PDP plans, there is no set time when a Medicare Supplement can be purchased, changed, or dropped. So if you just receive a hugh rate increase from your company because you hit a new age band, it’s time to go shopping.
For example, I just helped a young lady of 75 living in Encino. She was paying $261 for a Plan F with Anthem Blue Cross. Since all plans are exactly the same, she chose to change her insurance to Mutual of Omaha at a monthly savings of almost $70! That’s over $800 per year. And since she did it within 30 days of her birthday, there were no medical questions and the policy was issued on a guaranteed basis.
It pays to use an insurance agent that represents virtually all carriers in California. You can give us a call at 800-550-0155 or go to our Medicare site at www.californiamedicareplans.com. Most people can save hundered by just spending 10 minutes on the phone.
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Posted in California Medicare Insurance
Californians are finding it difficult to obtain individual plans that include maternity benefits. The main reason for this is the high cost of medical care for premature infants.
However, if you are planning to have a child (and are not currently pregnant), look no further than Anthem Blue Cross. Their Lumenos HSA includes maternity with deductibles and maximum out of pockets costs as low as $1,500!
You can see these plans and many others at www.californiamedicalquotes.com, or better yet, call us at 800-550-0155.
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Posted in California Health Insurance
Seventy percent of the uninsured are in families with at least one full-time worker, according to Kiplingers. Ten percent have at least on part-time worker. The reast are retired or unemployed. Here are other numbers:
* 8.4 million are eligible for government programs but don’t know they are, don’t know how to sign up or don’t have access to the required documnets.
* 10.2 million are non-citizens. About 80 percent are legal residents, but many have low-income jobs and can’t afford or don’t ahve access to insurance.
* 9.2 million have household incomes of $75,000 or higher. Some are healthy and don’t want coverage. Others cant get it because of preexisiting conditions.
* 7.5 million are ages 19-24 and either have no access to health care, lack money to pay for it or don’t think they need it because they are in good health.
In California, virtually everyone can obtain medical insurance, either through insurance carriers or the state major risk program. For those who believe insurance is too expensive, talk with an insurance agent who represents the large insurance carriers. It’s amazing that many uninsured believe insurance to be much more expensive than it is.
By using HSA plans, an individual can reduce their costs substantially, all the while keeping their out of pocket costs to a reasonable amount. You’ll be surprised how affordable insurance can be.
Please go to our main site at www.californiamedicalquotes.com and run some comparisons. Better yet, call us at 800-550-0155 and we will help you choose the plan with the best combination of coverage and premium.
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Posted in California Health Insurance
Couples who own a small business may qualify for a group plan. California (and many other states) require groups of 2 or more to be issued coverage on a guaranteed basis. In fact, if one of you is on a government plan such as Medicare, the remaining person can still be insured without regard to medical history.
Advantages
- Issued regardless of health status (with no pre-existing conditions waiting period on HMO plans).
- Maximum of 10% surcharge for health conditions (individual plans ofter surcharge 50% or more).
- Maternity is included as a standard plan benefit
- Benefits may be available that are not available under individual coverage (ie. infertility treatments)
- One year rate guarantee
Generally speaking, if you are healthy then an individual/family plan will probably be less expensive than a group. But if you cannot qualify for an idividual plan, keep this in mind.
A good insurance agent can compare all your options. Contact us anytime at 818-342-9200.
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Posted in California Health Insurance
Are all Medicare Supplements the same? Since 1992 carriers in California and most other states can only offer standardized plans. This means that the coverage is identical between carriers. Does one company offer better claim service than another? Not in my experience. They all receive claims electronically via the Medicare system.
So what is the difference between companies? If you take a look at the 2008 Choosing a Medigap Policy: A Guide to Health Insurance for People wiht Medicare developed by CMS (Medicare), page 7 specifically states:
Each type of Medigap [Medicare Supplement] policy offers the same basic benefits,
no matter which insurance company sells it. Usually the only difference between
Medigap policies sold by different insurance companies is the cost.
Here’s the link to the entire guide: http://www.medicare.gov/Publications/Pubs/pdf/02110.pdf
Now, how to save money. Shop, shop, SHOP!
Did you just “defaut” to the plan endorsed by AARP? Did you simply enroll in the plan your agent recommeded, likely to be Blue Cross.
In Los Angeles County, a 70 yr. old non-smoking woman who has Plan F can pay $209 from Blue Cross, $199 from Blue Shield, or as low as $154 using an “A” rated carrier. Unless you think that the “Blues” need the money, you are spending way too much.
We represent carriers from A-Z; from Anthem Blue Cross to Mutual of Omaha to United Healthcare (via AARP). We can help you save money on the exact same coverage you have now.
Visit our sister website at www.californiamedicareplans.com or call us at 800-550-0155.
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Posted in California Health Insurance, California Medicare Insurance
An HSA is an innovative approach to health insurance signed into law in December of 2003, made available January 1st 2004
An HSA plan has 2 components:
A qualified high deductible health insurance plan
An Individual Tax-exempt Trust (savings/investments)
The trust account is designed to pay for routine medical expenses/and or provide savings for the future. Money put into the account can be used either during the year or accumulated in the account. Allowable medical expenses are defined by the IRS, and are much broader than most insurance carriers (i.e. includes dental, vision). Individuals can deduct dollars contributed to the HSA account from their gross income, resulting in tax-free medical dollars. The account is similar to an IRA account, however it is for qualified medical expenses.
HSA premiums are lower than other fully-insured plans with co-pays.
In theory, the funding of the health savings account comes from the dollars not being spent on a plan which “pays” for the privilege of co-pays and lower deductibles.
By allowing individuals to keep the money in the account not used, the government reintroduces the consumer into the health insurance equation; creating an incentive to check bills, compare costs, and evaluate urgency/frequency of appointments.
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Posted in California Health Insurance
This is another interesting issue. Can people with high blood pressure obtain reasonable pricing on their medical insurance?
The answer is a qualified yes as long as there are no other factors.
Generally speaking, blood pressure controlled by one medication to 140/90 or less, weight within preferred guidelines, no smoking, normal lipid panel, and no other risk factors can gain a preferred price on health insurance with most carriers.
Some carriers have more criteria; some less. The big issue with all carriers seems to be weight - they all like to see a BMI of 26 or less.
Which carrier is most HBP “friendly?” Hard to say because they all have somewhat different underwriting. But that’s where a good agent is worth his or her weight in gold.
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Posted in California Health Insurance
While the trend had been seeing underwriting growing tighter and tighter, knowing where to apply can have a dramatic difference in your results. Take for example saline breast implants.
A few years ago they were automatic declines with virtually every carrier. However, here’s what happens today if you apply and your saline implants are over 8 years old:
Health Net of California - DECLINE
Blue Shield of California - after 6 months, possible coverage at standard rates
Anthem Blue Cross - possible coverage at standard rates
Aetna - after 6 months possible coverage at higher rating
Clearly, the smart move is to either Blue Shield or Anthem Blue Cross. A good agent can make a big difference in helping a consumer make the right choice.
You can run your own quotes at www.californiamedicalquotes.com and hope you pick the right company for your condition. Or you can have a professional do what he or she does best.
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Posted in California Health Insurance