healthcare Archives - Page 3 of 5 - DesignHealth Benefit Advisors

Could There Be Medicare Savings In Prescriptions?

November 3, 2015 / Design Health / All Posts, Health Insurance, In The News

Several thoughts this morning arose as I was considering the cost of premiums versus the cost of doctors and prescriptions. What if there were regulations and guidelines that set parameters on all of the costs? Premiums increase due to the cost of care, and prescriptions remain high due to pricing set by pharmaceutical companies. It becomes an endless cycle of inflation year after year, but will there every be an end to the vicious increase? An article posted on the Wall Street Journal offers a solution with a savings bolstered at $16B. The government regulates both Medicaid and Veterans healthcare expenses and price negotiations […]

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HSAs Continue to Impress

October 26, 2015 / Design Health / All Posts, Health Insurance, In The News

Employee’s are learning how to use their HSAs more and more. A report by the Employee Benefit Research Institute found that the average amount of money in an HSA increased by 37 percent in 2014. At this time there are currently 13.8 million HSAs covering around 17 million individuals, with the accounts being worth an estimated $24.2 billion. HSAs were created in 2003 enabling individuals with high deductible health plans to have tax free saving on medical expenses. Although, the Employee Benefit Research Institute estimates that four out of five current HSA accounts have been created since 2011. The rise in

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10 Essential Health Benefits

October 23, 2015 / Design Health / All Posts, Did You Know?, Health Insurance

When the Affordable Care Act (ACA) was passed there were certain requirements placed on health plans guaranteeing health benefits. Going into the 2016 open enrollment all plans will be ACA compliant within this upcoming year. Currently there are still plans out there that are “pre-ACA” which an individual or family would have enrolled in before the ACA was passed and continued coverage through 2015. With ACA compliant plans there are 10 essential health benefits that are included under each plan that you may not know about. Here’s the list from HealthCare.gov: Outpatient care—the kind you get without being admitted to a

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Open Enrollment for 2016 is Fast Approaching

October 22, 2015 / Design Health / All Posts, Did You Know?, Health Insurance

Often times people are not informed of the new regulations that govern the ACA and the main issue we have seen is Open Enrollment. Open Enrollment is a window of time that allows individuals to enroll in health plans for the following year. This is the only time that individuals are allowed to enroll in a plan for the following year unless they have a qualifying event during the years time frame. Many people believe that they can simply enroll in a health plan at any given time and be safe from a tax penalty, but that is not the case. For 2016

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How does a Deductible and an Out-of-Pocket Maximum Work?

October 20, 2015 / Design Health / All Posts, Did You Know?, Health Insurance

When an individual or family enrolls in healthcare they are often bombarded by insurance jargon that isn’t the easiest to understand. The health insurance world speaks a different language than what most of us are used to. So what exactly is an out of pocket maximum and how does that work with a health plan deductible? An out of pocket maximum is the most you’ll have to pay during a policy period (usually Jan 1st-Dec 31st) for health care services. Once you’ve reached your out-of-pocket maximum, your plan begins to pay 100 percent of the allowed amount for covered services. I

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How To Shop For Health Insurance

October 14, 2015 / Design Health / All Posts, Did You Know?, Health Insurance

As Open Enrollment for 2016 is fast approaching do you know what to look for when selecting your health insurance? Many Americans are unsure what they are getting when they enroll in their plan until they go to use services and realize that they are under-insured. Consumer Reports highlights three key points to go over as you select your healthcare plan. First off “What does the plan cover?” With the Affordable Care Act (ACA) each health plan must cover certain items including: maternity and newborn care, mental health and substance-abuse treatment, preventative services, and pediatric services including dental and vision care. These are

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