What we see coming out in the next few weeks as the plans available on the public exchange continue their meltdowns is this: a new “Short-Term Limited Duration” coverage plan that will span 36 months. The newest insurance regulations released have extended short-term limited duration plans out to 3-year terms in many states. These plans are alternatives to the ACA plans available on the public exchanges for those with pre-existing conditions. But, they promise to be more affordable, as the ACA plans aren’t realistic for the majority of Americans.We expect Georgia to soon approve this product line in the next few weeks. Stay-tuned to this space for updates.
Meanwhile, our Employer Select Group Plans* Have Doubled Their First-Dollar** Benefits!
*Available to groups of 10 or more. Groups of 5-9 enjoy 1/2 the total maximums with some exceptions. **First Dollar means the plan pays a defined benefit, as agreed, without you paying a single penny of deductible–$0 Deductible! Individual plans are available also. Contact us for details.
Max Benefits are $5 million lifetime/$250,000 per Covered Person Per Year. Critical event coverage for Groups of 10+ start at $10,000 and range to a max of $40,000. That means you get a check in the mail for up to $40,000 if you are unfortunate enough to suffer a critical event! Individual plans allow critical-event coverage up to $50,000 in a lump sum payable to you.
This insurance actually pays as agreed, and you don’t pay a deductible. You pay any excess charges over the defined benefit. But, through Karis360, an additional service at no extra charge, your total bill is negotiated down from stated “retail” rates.
MultiPlan allows PHCS network provider discounts, which average, all in-network charges are discounted 43% from stated “retail” rates. PHCS is the largest primary PPO network in the nation–available at no extra cost with over 900,000 providers. To check if your favorite providers are “in-network,” click the button:
Healthcare costs are skyrocketing. Since the Affordable Care Act passed in 2010 health care costs have gone up by double digits each year. The health care bill did get more people insured and helped with issues like preexisting conditions, but the problem with the healthcare law isn’t what it tried to do, it’s what it failed to do: reduce costs. The solutions to the cost problem is with the free market and competition. Here are just three ideas that could make a huge difference.
Number 1: We can roll back the tax burden on insurance companies. The ACA added a $60 billion tax on health insurers, which made them have to charge more to consumers to cover their costs. Taxes roll downhill so a tax on insurers means higher costs for all of us.
Number 2: We can lower the regulations on health plans. The ACA has a lot of requirements that force insurance plans to cover an incredibly big list of benefits. If you want a bare-bones insurance plan that simply covers catastrophic events like a car accident or cancer you currently can’t get one. By boosting the benefits of every plan it restricts competition and drives up prices by forcing smaller health insurers out of the marketplace. Low-cost catastrophic plans that are normally purchased by younger, healthier people are no longer available because of the ACA requirements. Introducing as many health insurers to the marketplace as possible can drive down prices by encouraging businesses to compete to cut costs. The ACA did the exact opposite: Less competition and higher prices.
Number 3: Encourage medical innovation. The cost to bring a new drug to market already exceeds two and half billion dollars. And the ACA places an additional twenty-two billion dollar tax burden on innovator drug companies, the same businesses that produce lifesaving medications and cures for those in need. Punishing drug producers forces them to charge even higher prices to make up for the lost money in research, development, and taxes. If we encourage, not punish drug makers it will lead to more breakthroughs and lower costs–a win, win for all of us. As healthcare costs skyrocket, don’t forget that the free market is our best chance to rein them in.
It’s All About Risk Management!
At Asset Guidance Group, we believe our colleagues have developed a better plan for risk management. We have a less expensive option that pays because our risk pool is optimized and watched! Our plans are accepted by every major health care provider in metro-Atlanta (Georgia and the Nation). They are $0 deductible and pay expected benefits!