Saturday, 26. June 2010
Medical Bill Negotiation companies are familiar with the discounts negotiated by large companies, insurance companies, PPO networks, and other big players, so are familiar with what the “lowest available price” might be. If you use one of these services, you only pay if they are indeed able to negotiate a discount.Lower Those Medical Expenses!Being swamped with medical expenses isn’t anyone’s idea of the “American Dream”, but many are living through it anyway. One of the biggest problems associated with this catastrophe has nothing to do with the amount of times you visit the doctor annually, but the amount charged by the hospitals you visit. Finding the prices at various hospitals can seem impossible and would take some calling and probing around to get list prices or ranges of actual rates. In fact, if you are able to get a “price sheet” from the insurance company, the prices you will see will be rarely paid by any of their visitors. That is because large companies, PPO networks, and Health Maintenance Organizations all negotiate special discounts for their employees and members. By using medical bill negotiation services (special rates are sometimes available with some Health Savings Account providers), individuals can keep their medical bills smaller and Health Savings Accounts larger. With this type of service, you can get the same discounted prices the above entities receive or better, with no up-front costs. This could end up lowering your medical exposure by hundreds or even thousands of dollars. Many may wonder how they can tell whether or not they are getting a good deal or not, especially if they are paying for a high deductible health plan. Even if you have a PPO or other insurance provider that offers lower medical expenses, you don’t necessarily have the guarantee of getting the lowest rates. A good bill negotiation service will have an indepth understanding of the costs, and lowest available prices in a geographic area.Getting a Good Deal on Health CareThere are many ways to lower your annual medical cost. The first way is to simply be a good consumer. Just like with any other purchase, it is important to look around for the best value, and don’t be afraid to bargain. Individuals don’t typically have the negotiating power to talk down medical expenses with a health care provider, which is why it important to use a service that can do this. Millions of people are now choosing high deductible health plans in combination with a Health Savings Account as the best way to insure themselves. These plans are much less expensive than copay plans, and offer a tax deduction for any money you put aside to cover future medical expenses. But they do have high deductibles, so you still want to pay as little as possible before your insurance coverage kicks in. The Medical Bill NegotiatorWith a medical bill negotiator you can easily try to lower your medical bills. Most companies will require that you have a minimum of $200 in the bill you need reduced. You can sometimes use the website of the negotiating company to submit your claim or you can mail or fax it in. Once the negotiator receives it, they will be able to compare the prices for the same services at different health providers in the geographical area. If there are lower prices, the negotiator will contact the health provider of the claim and attempt to negotiate a lower rate. If successful, the individual will split the savings (usually around 70% for the individual and the rest for the company). If the negotiation wasn’t successful, the individual doesn’t have to pay a penny. Individuals are saving anywhere from 5 to 80% by using a medical bill negotiating services. Bill negotiation services report savings of 20-37% for imaging and radiology, 15 – 33% for anesthesia, 10 – 80% at surgery centers, and 5 – 48% on dialysis. Patient advocates are available with most companies to assist you and discuss the medical claims you have. Saving Money is the Main GoalIn this time of rising gas prices and a falling stock market, keeping more money in your Health Savings Account is an everyday hassle. Anything that can help individuals save money is something that should be looked into. This can be even more achievable by using your Health Savings Account and a medical bill negotiator. One shouldn’t have to pay retail prices for prescriptions drugs or lab tests – it is always wise to do comparison-shopping. An HSA-qualified health insurance plan can allow individuals to save money in their Health Savings Account to pay for medical expenses. Individuals can also save money on medical expenses by allowing an insurance agent to shop around for affordable coverage each year. Taking responsibility of medical expenses is what every American should do; and by using these types of services, more money can be saved each year.
Posted in Articles by Prescription Savings -
Sunday, 20. June 2010
Healthy children are easier on the household budget unfortunately not everyone is so blessed so what do you do? When considering the family budget and being a good parent, providing quality healthcare at a reasonable price is right up there with the mortgage payment, car payments and college tuition.
Health Savings Accounts can be simple and easy to understand. A Health Savings Account is a tax-favored savings account combined with a qualifying high-deductible health insurance plan. Health Savings Accounts allow you to legally avoid federal income tax by depositing 100% of the health plan’s deductible, up to $2,850 for singles or $5,650 for families, into your Health Savings Account. Health Savings Accounts, (HSA) touted as a way to lower health-insurance costs and broaden coverage, have fallen short of their promise. They are gaining popularity because they allow individuals, rather than an HMO or the government, to take charge of their health care. Also, they’re an excellent option for individuals and families without employer-sponsored health insurance. Health Savings Accounts are becoming quite popular for people who are generally healthy and they’re leading the way in this transition.
Savings can be used to help pay the deductible and for non-covered medical expenses, such as dental and vision. Savings reduce or eliminate annual out-of-pocket exposure. Savings not spent remain in the HSA tax-deferred. Savings and investments unlike premiums, unused HSA dollars remain in the HSA until you use them later. Day-to-day expenses come out of the health savings account, while catastrophic expenses are covered by insurance. Health Savings Accounts are gaining popularity because they allow individuals, rather than an HMO or the government, to take charge of their health care. A Health Savings Account combined with a High Deductible Health Insurance Plan gives individuals an economic incentive to become better consumers of health care services because they are now spending their own money up to the level of their high deductible. Health Savings Accounts are an excellent option for individuals and families without employer-sponsored health insurance.
If your employer offers a high-deductible health insurance policy, you may be able to make pretax contributions, like you would with a flexible-spending account. Legislation passed by Congress December 9, 2006, will let you make a one-time transfer of funds tax free from a flexible-spending account to an HSA. You cannot have an HSA if you use a flexible-spending account to pay health-care costs or if you have other medical coverage (say, through a spouse’s policy). You can keep the money in an HSA account even after you leave that job, similar to a 401(k). Keep in mind that you can continue to withdraw money from the account tax-free for qualified medical expenses after age 65. You can’t make new HSA contributions after age 65, but you can still use the money in your account tax-free for medical expenses at any age.
Deposits to an HSA may be made by any policyholder of a qualified High Deductible Health Plan (HDHP), by an employer on behalf of a policyholder, or any other person. Previously, the annual maximum deposit to an HSA was the lesser of the HDHP deductible or specified IRS limits. As of 2007 plan years, Congress has abolished the lower limit based on the deductible, and the maximum contribution will simply be the statutory limit. These include deductibles and coinsurance as well as many other expenses not covered under medical plans, such as dental, vision and chiropractic care; durable medical equipment such as eyeglasses and hearing aids; purchase and use of qualifying over-the-counter medications; and transportation expenses related to medical care. Contributions are deductible, the account accumulates tax-free, and withdrawals used for medical expenses are tax-free. Contributions and gains can be rolled from year to year – there’s no “use it or lose it”. Contributions to the HSAs are tax-deductible at the federal and state level.
Healthcare is the number one issue facing many individuals and companies in America. Now with the release of Michael Moore’s new movie, SICKO, the debate on healthcare in the USA in on. Many well-meaning people believe that a government take-over of healthcare coverage, called a “single-payer” system, is the answer. Health Savings Accounts are combined with a High Deductible Health Plan (HDHP) to offer a more affordable approach to healthcare. They were created to help give control back to consumers and lower healthcare costs. While most healthcare insurance clients say they are satisfied with their current plans, the landscape changes when major illnesses start. Alternatively, your HSA balance can be used to cover your post-age-65 healthcare costs including Medicare Part A and B premiums, Medicare HMO premiums, garden-variety health premiums, insurance deductibles and co-payments, prescriptions, long-term care insurance premiums, and so forth. But what about the person who lives pay check to pay check or the single parent trying to provide healthcare for themselves and children. Combine a tax-favored Health Savings Account (HSA) and an HSA-eligible health insurance plan to save money tax-free for healthcare costs.
Health Savings Account Plans help you take control of your health care expenses with a tax-favored savings account and quality medical coverage. Health Savings Account (HSA) Plans are an excellent choice for individuals and families who want to control their health insurance costs by combining a lower cost high deductible health insurance plan with a tax advantaged savings account and network discounts. Learn how to take advantage of the money-saving benefits of a Health Savings Account. By allowing you to deposit tax-deductible funds into a health savings account that you can use to cover medical costs, Health Savings Accounts enable you to take control of your own health care decisions. Once your insurance policy has become effective, you may begin to fund your Health Savings Account. Please note: To obtain the maximum tax benefit from your Health Savings Account in 2008 as well as lock in 2007 rates, you must have your HSA-qualified insurance plan effective no later than December 31. There are about 10 million people enrolled in “consumer-driven health plans,” and about 6 million of those are Health Savings Accounts. To really maximize your savings pair up a Discount Health Plan, for the everyday savings on you health care, with your HSA and HDHP. You may want to read my other article on Healthcare and the Family Budget – How to Get the Biggest Bang for Your Buck!
Posted in Articles by Prescription Savings -
Monday, 14. June 2010
Michael Moore’s new movie SICKO is a humorous and at times emotionally moving look at the state of U.S. healthcare, but it promotes a solution (government healthcare) that would only make matters worse. Instead of more bureaucracy and government control, we should be encouraging competition among healthcare providers and personal responsibility among consumers. Health savings accounts, or HSAs, do just that, and are the future of healthcare in America.
Many well-meaning people believe that a government take-over of healthcare coverage, called a “single-payer” system, is the answer. But if one simply looks at the countries that currently have single-payer systems, it is quite apparent that they are failed systems, with the citizens of these countries clamoring for change.
Because demand goes up when prices go down, the only way a government that provides “free” healthcare can control cost is by limiting access. So citizens in countries with single-payer systems always suffer long waits and lack of access to medical care and technologies.
For instance, in Canada there are currently over 800,000 people on waiting lists for medical procedures. The average wait time for people who are referred for surgery is over four months! If it weren’t for the fact that thousands of Canadians come to the U.S. each year for treatment, the average wait times would be even longer.
Per capita, Canada only has 20% the number of MRIs that the U.S. has, and only 14% as many CAT Scans. There are hundreds of prescription drugs available in the U.S. that are not yet available in Canada as they try to control costs.
The situation in Britain is no better, with over 1 million people currently on waiting lists. In June Britain’s Health Department found that 1 in 8 patients waits over a year for scheduled surgery, and shortages are forcing more than 50,000 operations to be cancelled each year.
Waiting for surgery is not just an inconvenience; it can mean the difference between living and dying. For instance, in the U.S. the survival rate for stage 1 colon cancer is 90%; in Britain it is 70%. American women diagnosed with Stage I breast cancer have a 97% survival rate after 5 years; in Britain it’s only 78%.
As Americans contemplate copying these failed systems, citizens in Europe and Canada are headed in the opposite direction. Germany just recently passed laws to enhance insurance competition, Sweden has begun privatizing some of its healthcare, and millions of Europeans are finding ways to opt-out of their government healthcare systems.
In Britain there are now over 6.5 million people who carry private insurance, despite the availability of “free” coverage from their NHS. Another 250,000 self-fund each year for acute private surgery, because they don’t want to or cannot afford to wait. Even the Labour party now favors privatization of healthcare in Britain.
In 2005 the Canadian Supreme court issued a ruling which stated, “The prohibition on obtaining private health insurance… is not constitutional where the public system fails to deliver reasonable services.” Private healthcare clinics are now opening in Canada at the rate of one per week.
Unfortunately, under a socialized system, your body and your life are no longer under your control.
Isn’t it amazing that some of the same people who criticize government ineptness – including Katrina, the many screw-ups in the war on terror, No Child Left Behind, and more – actually think the government would do a good job managing the nation’s healthcare?
Freedom, choice, and innovation are what have given us the highest quality healthcare in the world. We absolutely do need change, but the answer is less government intervention, not more. By encouraging consumer-driven solutions, competition, and price transparency, we can help avoid the healthcare disaster that government control would bring.
One big part of the solution that is already beginning is the adoption of Health Savings Accounts. Over five million Americans already have an HSA set up, and over five billion dollars is already invested in these special bank accounts.
People who have an HSA can set aside money to pay for future medical expenses, and get a tax deduction to do so. Because you must have a high-deductible health plan to contribute to an HSA, these plans encourage people to more carefully spend their healthcare dollars, since money they don’t spend stays in the HSA.
The result is that medical providers once again are competing for customers by lowering prices, and increasing quality and convenience. Already we are seeing plummeting prices on prescription drugs, and low-cost medical clinics spring up in Wal-Mart and other retail locations.
As more and more people obtain HSAs, we will not only see a benefit for the consumers, but we will also begin to see more people who take a proactive attitude when it comes to their health. A Health Savings Account owner who exercises and eats right will likely have a much larger balance in their account by the time they retire.
These changes will result in a healthier and wealthier group of retirees and a smaller burden on our tax system in the future.
Posted in Articles by Prescription Savings -
Sunday, 13. June 2010
Michael Moore’s new movie SICKO is a humorous and at times emotionally moving look at the state of U.S. healthcare, but it promotes a solution (government healthcare) that would only make matters worse. Instead of more bureaucracy and government control, we should be encouraging competition among healthcare providers and personal responsibility among consumers. Health savings accounts, or HSAs, do just that, and are the future of healthcare in America.
Many people believe that a government take-over of healthcare coverage, called a “single-payer” system, is the answer. But if one simply looks at the countries that currently have single-payer systems, it is quite apparent that they are failed systems, with the citizens of these countries clamoring for change.
Because demand goes up when prices go down, the only way a government that provides “free” healthcare can control cost is by limiting access. So citizens in countries with single-payer systems always suffer long waits and lack of access to medical care and technologies.
For instance, in Canada there are currently over 800,000 people on waiting lists for medical procedures. The wait time for people who are referred for surgery is very long and can sometimes take over six months! If it weren’t for the fact that thousands of Canadians come to the U.S. each year for treatment, the average wait times would be even longer.
Per capita, Canada only has 20% the number of MRIs that the U.S. has, and only 14% as many CAT Scans. There are hundreds of prescription drugs available in the U.S. that are not yet available in Canada as they try to control costs.
The situation in Britain is no better, with over 1 million people currently on waiting lists. In June Britain’s Health Department found that 13% of patients wait over a year for scheduled surgery, and shortages are forcing more than 50,000 operations to be cancelled each year.
Waiting for surgery is not just an inconvenience; it can mean the difference between living and dying. For instance, in the U.S. the survival rate for stage 1 colon cancer is 90%; in Britain it is 70%. American women diagnosed with Stage I breast cancer have a 97% survival rate after 5 years; in Britain it’s only 78%.
As Americans contemplate copying these failed systems, citizens in Europe and Canada are headed in the opposite direction. Germany just recently passed laws to enhance insurance competition, Sweden has begun privatizing some of its healthcare, and millions of Europeans are finding ways to opt-out of their government healthcare systems.
In Britain there are now over 6.5 million people who carry private insurance, despite the availability of “free” coverage from their NHS. Another 250,000 self-fund each year for acute private surgery, because they don’t want to or cannot afford to wait. Even the Labour party now favors privatization of healthcare in Britain.
In 2005 the Canadian Supreme court issued a ruling which stated, “The prohibition on obtaining private health insurance… is not constitutional where the public system fails to deliver reasonable services.” Private healthcare clinics are now opening in Canada at the rate of five per month.
Unfortunately, under a socialized system, your body and your life are no longer under your control.
Isn’t it amazing that some of the same people who criticize government ineptness – including Katrina, the many screw-ups in the war on terror, No Child Left Behind, and more – actually think the government would do a good job managing the nation’s healthcare?
Freedom, choice, and innovation are what have given us the highest quality healthcare in the world. We absolutely do need change, but the answer is less government intervention, not more. By encouraging consumer-driven solutions, competition, and price transparency, we can help avoid the healthcare disaster that government control would bring.
One big part of the solution that is already beginning is the adoption of Health Savings Accounts. Over five million Americans already have an HSA set up, and over five billion dollars is already invested in these special bank accounts.
People who have an HSA can set aside money to pay for future medical expenses, and get a tax deduction to do so. Because you must have a high-deductible health plan to contribute to an HSA, these plans encourage people to more carefully spend their healthcare dollars, since money they don’t spend stays in the HSA.
The result is that medical providers once again are competing for customers by lowering prices, and increasing quality and convenience. Already we are seeing plummeting prices on prescription drugs, and low-cost medical clinics spring up in Wal-Mart and other retail locations.
As more and more people obtain HSAs, we will not only see a benefit for the consumers, but we will also begin to see more people who take a proactive attitude when it comes to their health. A Health Savings Account owner who exercises and eats right will likely have a much larger balance in their account by the time they retire.
These changes will result in a healthier and wealthier group of retirees and a smaller burden on our tax system in the future.
Posted in Articles by Prescription Savings -
Thursday, 10. June 2010
People who have a Health Savings Account (HSA) benefit from lower health insurance premiums and reduced income taxes. But the best long-term benefit for many will be the large amount of money they will have in their Health Savings Accounts as they enter their retirement years. The best way to build up a significant amount in your HSA is to fund it every year, get a good return on your money, and avoid making withdrawals. And the easiest way to avoid withdrawals from your HSA is to stay in healthy.
People have much more control over their health than most of them realize. If you want to take more personal responsibility for your health, forget your New Year’s “Resolutions” (if you’re like most, you probably already have!), and make some real goals to improve your health and prevent future degeneration.
You Have the Power
The first step in the journey towards optimum health is to realize that you, indeed, do have the power to influence your health as you age. While the genes you inherited from your parents do affect your risks, for most diseases this influence is tiny compared to the role your lifestyle plays.
Here’s the way it plays out for the average American: by the time they are in their 30’s or 40’s, most are on at least one regular prescription drug – typically cholesterol medication, blood pressure medication, and/or Viagra. By their 60’s, most people are falling apart, on multiple medications, and suffering from arthritis pain, obesity, depression, insulin resistance, and a host of other complaints. Within 10 years, many are dropping like flies.
But of course it doesn’t have to be this way.
Imagine the Future
How do you imagine your life playing out? Pour yourself a beer (do it now, before we get to the part where we actually write out lifestyle goals), kick back, relax, and dream. Imagine that you’re 70 years old. Are you still in vibrant health, playing tennis, running on the beach? Or are you old and fat, with just enough energy to get off the couch and make it to the refrigerator and back during the Wheel of Fortune commercial?
Then imagine checking your Health Savings Account balance. Does it have $325,000 in it, or $325? If you’re not in the best health, chances are your HSA won’t be either.
If that’s too far in the future, just imagine January 2009, and where you’d like to be. It’s mostly your choice.
How Are You Going To Get There?
Once you’ve imagined the perfect future, its time to get serious about getting there. And the key is to focus on lifestyle habits, not end results.
Diet
Nothing is more important to your long-term health than eating a healthy diet. So your focus, as much as possible, should be the quality of your diet.
Base your diet on real, whole, unprocessed foods. Fruits, vegetables, fish, lean meat, nuts. Until 10,000 years ago, humans did not have access to bread and potatoes, and it is only in the past 100 years that we’ve begun eating high quantities of sugar, corn syrup, white flour, and other modern foods.
If losing weight is one of your objectives, going on a diet is NOT the answer. Chances are you’ve tried that before, and you know it doesn’t work. But what does work is permanently changing your eating habits, and where most people get stuck is they start out with a feeling of denial. Whether its wings and beer, or Twinkies and root beer, whatever you eat that’s gotten you to this point is probably what you feel like you “deserve” to eat, and you may feel that its not “fair” that you won’t get to eat this way anymore.
Get over it. The fact is that no one eats that way without consequences. Instead, choose to eat good food. Not temporarily, or just until you lose the weight. Don’t tell anyone that you are “on a diet”. Tell them that this is the way you eat, period.
Exercise
We are built to move, and anyone can improve their body’s functioning by moving more. The basics: muscle strength, cardiovascular fitness, and flexibility.
Here’s what your prescription should be:
1. Lift weights 3 times per week. Join a gym, or simply buy some 20 and 30 lb dumbbells. Each week make sure you work out your arms and shoulders, chest and back, and legs.
2. Do something aerobic 3 times per week, for 20 minutes or more. Don’t just go for a stroll, but actually do something that makes you breathe hard – whether it’s jogging, rollerblading, basketball, or whatever.
3. Stretch every night. 5 minutes or less ought to do it.
The Power of Written Goals
So at this point you should have two ideas in your head. One is a picture of you at some point in the future. How you look, how you feel, and how you function. The other is the permanent lifestyle changes you plan to implement to get you there.
Now is the time to put it on paper. This is a powerful exercise that will make your thoughts more “real,” and more likely to come to fruition.
First, write out a detailed description of your future, exactly as you would like it to be.
Then write out your lifestyle habits in positive wording. What kind of food are you going to eat? What kind of food are you going to have around the house? Where and when will you eat out, and what kind of food will you order?
Remember, it is very difficult to make changes if you have feelings of denial. Fighting hunger is virtually impossible. Instead of concentrating on what you won’t eat, concentrate on what you will eat, and on the end result. And if you want to splurge on some Ben and Jerry’s occasionally, go ahead.
How Much Will You Have In Your HSA When You Retire?
In 2008 the maximum annual HSA contribution is $5800 for families. If a family makes the maximum contribution each year, gets an 8% return on their money, and has $500/year in medical expenses, they’ll have $261,885 in their HSA after 20 years. If they have $3000/year in medical expenses, they’ll only have $138,354 after 20 years.
Stay healthy, get wealthy. They certainly go together. And with looming Medicare insolvency, you will certainly want to have as much of your own money available to pay future medical expenses when they do happen.
At one time it wasn’t uncommon for me to have wings and fries for dinner, washed down by a few beers. At other times it was beer for dinner, supplemented by a few wings. Amazingly, the human body is able to take these raw ingredients, and produce heart, lungs, eyes, and everything else that keeps us going. But if we were able to look more closely, we’d see poor ingredients produce a poorly functioning body.
If optimum health hasn’t been a focus in your past, make 2008 a year of change. You’ll be glad you did.
Posted in Articles by Prescription Savings -
Monday, 7. June 2010
The new world of consumer-driven healthcare is opening up many opportunities for people to save money on their medical expenses. As more people carry high deductible plans in conjunction with health savings accounts, medical providers are beginning to compete for that business in a variety of innovative ways. One way many people are saving money on doctor visits is through telephone consultations.
Many times an expensive doctor visit could be avoided if you could just talk to the doctor to discuss the situation over the phone. If you could do a quick email exchange and have a prescription waiting for you at the pharmacy, you could save time and money, and let the funds in your Health Savings Account continue to grow for your retirement. There are now online physician consultation services that allow you to do just that.
While an ER visit may indeed treat medical needs, the reality is that most visits end up being more about peace of mind. If your child’s skin is turning red in the middle of the night, you might not know if it’s harmless flushing, or a serious allergic reaction. So you rush off to the emergency room, fill out some forms, and sit in a room full of contagious people. You wait and wait, finally get to speak to a nurse, then wait some more, and explain your problem again to the resident. Then you may have a battery of tests done, wait some more, and finally leave with a prescription and a bill for $650.
All this for a problem that could have been far less expensive, and handled more simply and expediently by discussing the situation with your doctor. According to the American Medical Association, about 70% of doctor and emergency room visits are actually just informational.
However, asking your doctor a health question is rarely as easy as picking up the phone. Because insurance companies do not normally reimburse doctors for phone care, most traditional practices avoid offering such service. Instead, their objective is to get you into the office so that you can be billed for the service you receive.
Paying for that office and the surrounding bureaucracy is not cheap. A doctor’s costs may include the office itself, a receptionists, a triage nurse, someone handling insurance billing, office managers, and expensive medical equipment. All this is very expensive to maintain, so generating as many office visits as possible is critical for most doctors to even stay in business.
So you get stuck in a system that is inconvenient, expensive, and does not value your time.Telephone Consultation Services
As health savings accounts become more popular and more people are paying for their own doctor visits, several companies have begun offering inexpensive telephone and email consultations with board-certified physicians. These companies can offer dramatically lower prices because they have cut out most of the costs that burden traditional medical facilities.
Though telephone consultations are obviously not appropriate for all medical conditions, it is an accepted standard of care for many health-care problems. In fact, telephone medicine has been around as long as the telephone, and is practiced throughout the country by most doctors at nights and on weekends.
Here are a few companies that are now offering telephone consultations with licensed physicians:
Doctor on Call (www.unadoctoroncall.com). This company currently has over 240 board-certified physicians on call, with 24-hour access. The physicians with this service will not diagnose or prescribe, but they will provide information based on your questions. The price is a bargain – only $5.95/month for the family for an unlimited number of calls.
TelaDoc Medical Services (www.teladoc.com). This company also provides 24-hour access to members and dependents age 12+. Telephone medical consultations are with primary care doctors who can also diagnose medical problems and prescribe appropriate medications. There is an initial $18 registration fee, and a monthly fee of $4.25 for an individual or $7 for a family. Consultations are a flat $35.
Doctokr (www.doctokr.com) is a practice run by Virginia physician Alan Dappen. Though this service is only available to people who can come in to his office for an initial visit, it is a model likely to be copied by other providers as consumers become more price conscious when shopping for medical care. 24-hour access is available by telephone and email. Consultations are billed in 5-minute increments ranging in price from $15 to $22.50. A simple consultation to request medication refills costs from $10 to $15 for up to 5 medications. There is a monthly fee of $5.95.Saving You Time and Money
Not only will these services save you money when compared to a typical doctor visit, but they will also save you time. You may be able to quickly resolve routine medical issues in a fraction of the time you would spend accessing care from urgent care facilities, emergency rooms or physician offices. If you use a service that will prescribe medications, you could have your consultation finished and the medicine in hand in less than the time it would otherwise take just to visit the doctor.
As telephone technology evolves, these services will add picture taking and even recording vital signs, and the scope of these physician consultations will become broader. With doctor visits approaching $100 each and ER visits in excess of $800, it doesn’t take much to justify the small monthly fee for most of these services.
Though there are certainly times when visiting your doctor’s office or the emergency room is the most appropriate thing to do, as a smart HSA consumer, you owe it to yourself to be aware of all your options. Using a physician telephone consultation service can help you avoid the expense, time, and hassles of urgent care facilities, emergency rooms, and visits to the doctor.
Posted in Articles by Prescription Savings -
Saturday, 5. June 2010
Do Not Read This Unless You are Making a lot of Money!:
If you would like to know how you can save up to 47% on your current Health Insurance Coverage read on… this is going to be one of the most informative messages you will ever read. After reading this message you will never going to have words; expensive and health insurance in the same sentence.
As you already know health insurance costs are at highest they have ever been and there is no sign of them slowing down. More and more Americans are forced to cancel their coverage simply just because they cannot afford it.
Who are the uninsured?
• Approximately 46 million Americans, or 15.7 percent of the population, were without health insurance in 2004 (the latest government data available).
• The number of uninsured rose 800,000 between 2003 and 2004 and has increased by 6 million since 2000.
• The increase in the number of uninsured in 2004 was focused among working age adults. The percentage of working adults (18 to 64) who had no health coverage climbed from 18.6 percent in 2003 to 19.0 percent in 2004. An increase of over 750,000 in 2004.
• Nearly 82 million people – about one-third of the population below the age of 65 spent a portion of either 2002 or 2003 without health coverage.
• The number of uninsured children in 2004 was 8.3 million – or 11.2 percent of all children in the U.S. (1).
You might say that I have great coverage that I am happy with… that’s totally fine.
For past sever years average rate increase for health insurance was 16.2% and what if it keeps on going? If you are right now paying $500 per month for your health insurance in three years from now you would expect to pay over $780 for the same plan. Wait… we all know that insurance companies consistently decrease their benefits and increase co-pays and deductible. Therefore you will pay more for less coverage. By the way if you keep same plan for over five years you will pay over $1000 a month just for your medical coverage. What if you use your Health Insurance?… Chances are if it is not for a regular doctor visits or a check ups it would be considered pre-existing condition. That means your chances of changing to a more affordable coverage in the future will be nearly impossible. That is one of the main reasons people cancel their health insurance because they were diagnosed with something or taking a prescription medication and the insurance company kept raising their rate until they could not qualify for any other coverage and could not afford the one they had.
Now you are saying I do not need coverage my spouse works for a company and I have group coverage… Great.
What would happen if your spouse left that job or the company stopped providing benefits? Probably the most obvious things that you can see how much that group coverage is really costing you. Next time check how much is deducted out of the paycheck for health coverage, especially for dependents. Group plans do cost more money because by law they are what are called “guaranteed issue”. That means you can have serious medical conditions and still get coverage. Insurance companies have to follow the law and they know they have to accept everyone who works for a large company, therefore they do charge more money for coverage. The biggest problem is not the cost of group health insurance it is what happens if some one, while on the group plan, is diagnosed with a condition or starts to take prescriptions medications. We get back to same issues as mentioned before, unable to qualify for health insurance in the future. There are people that want to leave their job but they cannot because they are going through treatment and cannot to pay for it on their own.
There is another solution… Some might save, so what is the point of even having health insurance. Once you diagnosed with something and insurance company is going to keep raising rates to the point where I am going to have to cancel it anyway. Especially if something does happen and I have to use my coverage I might not be working and I might not have income. Is my insurance company is still going to keep raising my rates? YES.
Before you think about cancelling your coverage consider this. Here are some statistics
• A recent study by Harvard University researchers found that the average out-of-pocket medical debt for those who filed for bankruptcy was $12,000. In addition, the study found that 50 percent of all bankruptcy filings were partly the result of medical expenses. Every 30 seconds in the United States someone files for bankruptcy in the aftermath of a serious health problem.
• Illness and medical bills caused half of the 1,458,000 personal bankruptcies in 2001, according to a study published by the journal Health Affairs.
• Average day in the hospital is $7500 per day.
How can you save up to 47% on your health insurance? Simple… You probably already heard of Health Saving Accounts. They are becoming more and more popular everyday. With the way health insurance prices are moving today Health Saving Accounts are the only way to keep your coverage, save hundreds per month on your health insurance and still have a peace of mind.
To this day I was not able to hear a good definition that everyone can understand. I will do everything I can to make it simple to understand. The easiest way to understand Health Saving Accounts is to think of them as Roth IRA or your Company’s 401k plan. Instead of giving your money away to insurance company you get to keep it more of it for yourself. The way HSA plans work is there health insurance combined with savings account which works in a similar way to your retirement account. There tremendous benefits to have HSA qualified health plan. First all the money that you put in to your HSA account is 100% tax deductible and it is your money that rolls over year after year. At the age of 65 and up if you have not used up all of your HSA money you can roll it over in to your retirement account. Second your health insurance costs are going to be cut almost in half. For example if you had Health Insurance plan with $2500 deductible now and it is costing you $300 per month the same plans with HSA qualified plan, now will cost you only about $160 per month. The reason you save so much money with HSA qualified health plan is because HSA qualified plans do not cover anything until the deductible is met. There are exceptions depending on the Health Insurance Company. Some insurance companies will pay for your once a year physical before you meet your deductible.
Let take an example of how HSA qualified plan could benefit you. Let take some actual numbers from actual health insurance company. In this example I am going to use HSA plans from company called Assurant Health. Assurant Health is leader in Health Saving Accounts and they one of the first companies to implement them. The main reason is that Assurant Health is part of the world’s largest financial company that sets up retirement accounts. In this example I am going to use a family of four, husband 46, wife 42, kids are 12 and 16. On a regular family plan with $2500 deductible, maximum out of pocket of $5500, co-insurance of 80% and doctor visits covered with $35 co-pay, they are going to pay $676.40. Something to keep in mind that all of the regular PPO plans that are available on the market today have family deductible which is double of individual deductible. That means that if you have a plan with $2500 deductible and $5500 maximum out of pocket that means that your family deductible is $5000 and your family maximum out of pocket is $11,000. When we are comparing HSA qualified health plans there is only one deductible, once you meet it you are covered at 100% on the most plans. There are some companies and plans that you still might be responsible for the percent age of the bill until you reach your maximum out of pocket. Most HSA plans do not have maximum out of pocket that meant once you met your deductible you are covered at 100%, it’s that simple. The same plan with $5700 deductible for the entire family with HSA qualified health plans will only be $491.64 per month. For the total monthly savings of 184.76 per month. Also your maximum out of pocket will decrease from $11,000 on a regular plan to $5700 with HSA health plan. That’s yearly savings of $2,217.12 and additional savings of $5300 on the maximum out of pocket. (that’s if you have had to use the plan for emergencies) The main reason for starting HSA health insurance is for Saving Account and being able to put money in to account, at your discretion, tax free. You can put money in to HSA qualified account up to your deductible and you do not have to put any money in to that account if you do not want to. Health Saving Accounts are as flexible as you would want them to be. TO get more information on HSA accounts and get quotes for HSA qualified health coverage see my bio.
Dennis Alexander – leading consultant for employer group and individual/family health insurance. Marketing consultant for major health insurance resource websites and brokerage firms online. Some of the websites consultant and/or administrator http://www.HealthCoverageQuotes.com and http://www.GuideToHealthInsurance.org. For Assurant HSA Plans visit http://www.AssurantHealthCoverage.com
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Monday, 31. May 2010
I have a new option of the HDHP vs a PPO at work. These are the numbers I have come up with so far. Last years total out of pocket $5700 including premiums and co-pays. The HDHP is offered with all preventive medical and prescriptions at 100%, $1500/3000 deductible and $3000/6000 max out of pocket. A $2000 contribution to a HSA by the employer. With the PPO I would pay $3300 in premiums next year. So I figure those two together in a HSA would be $5300. About $3500 of last years costs would be covered as preventative under the new plan. So I see a net savings of about $1800. Something seems to good to be true here. Anyone been down this road yet and willing to lend some insight? Family is 2 40yr olds and 3 and 9 year old girls.
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Sunday, 30. May 2010
Wreck a car, pay a set deductible done. Need a rental? Your policy covers, done. Car breaks down, warranty covers, done.
Health insurance- you have a $10.00 co pay, paid, but we charge $75.00 but your insurance only pays $25.00 so you owe us $50.00 and they only cover 2 a year so you owe us $425.00
It is things like that I want changed.
I want a national healthcare. Government regulated, not ran. If per incident charges exceed $5000.00 then this policy kicks in and covers. Just like car insurance does. Clear set understandable rules.
And flex savings that don’t go away at years end to pay for glasses, dental and prescriptions, that cost us citizens the same as in Canada or on the Internet.
IT WAS GOVERNMENT THAT GOT US INTO THIS!!! THEY NEED TO GUIDE US OUT!! Employer-based coverage came about during World War II under FDR as a result of the National War Labor Board’s decision to institute wage and price freezes in an attempt to prevent production shortages due to labor unrest or inflation. The freeze was not applied to fringe benefits like health insurance, allowing employers to compete for skilled workers by offering ever-increasing health insurance coverage. Workers grew accustomed to receiving health benefits from their employers; making employer-provided health benefits became an American institution
AND YES THEY SHOULD BE TAXED,
By taxing them they are back to income not a hidden source for the wealthy to play and not pay
And when you check out of the hospital, or leave a doctors office, bill must be presented in full at time of check out or it is no longer owed. No more three-month latter you owe a or that. It wouldn’t fly at a motel or at a restaurant should not be allowed in healthcare
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Monday, 24. May 2010
Charles Myrick the President of American Consultants Rx announced the re-release of the American Consultants Rx community service project. ACRX donated over 20 million ACRX discount prescription cards throughout the country. One of the main locations in the Andalusia,AL area that will receive an initial donation of ACIRX free prescription cards,is the Gentiva Health Service. The ACRX cards are to be given free to anyone in need of help curbing the high cost of prescription drugs. Please contact Gentiva Health Service for additional information and a free card .
Due to the rising costs, unstable economics, and the mounting cost of prescriptions, American Consultants Rx Inc. (ACRX) a.k.a (ACIRX) an Atlanta based company was born in 2004. The ACRX discount prescription card program was created and over 3 million discount prescription cards were donated to the community across the country free of charge between 2004-2005.
The ACRX cards will offer discounts of name brand drugs of up to 40% off and up to 60% off of generic drugs. They also possess no eligibility requirements, no forms to fill out, or expiration date as well .One card will take care of a whole family. Also note that the ACRX cards will come to your organization already pre-activated .The cards are good at over 50k stores from Walgreen, Wal mart, Eckerd’s, Kmart, Kroger, Publix, and many more. Any one can use these cards but we are focusing on those who are uninsured, underinsured, or on Medicare.
ACRX made arrangements online for the ACRX card to be available at ACIRX com site where it can be downloaded as well. This arrangement has been made to allow organizations an avenue to continue assisting their clients in the community until they receive their orders of the ACRX cards. ACRX made it possible for future request to be made from online as well. ACRX also developed a unique marketplace at 2Spendless com site where you can also click on the ACIRX blue banner and download your free discount prescription card as well as find other key discounts.
With a backorder of over 40 million cards ACRX is working diligently to assist as many people and organizations as possible. ACRX will be working over the next few months to fulfill as many backorders as possible. It should be noted that while many other organizations and companies place a cost on their money saving cards, ACRX does not believe a cost should be applied, just to assist our fellow Americans. ACRX states that it will continue to strive to assist those in need.
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