Welcome to AMS Blog

Let us know your thoughts, question and suggestions!



Friday, April 30, 2010

Companies which are implementing the child coverage early.

We’re pleased to report that the following insurance companies are implementing prior to September date for covering children dependents to age 26: These are the companies in California which moved early.

Blue Shield of California Blue, Kaiser Permanente, Cigna,Aetna,United, WellPoint (Anthem B.C.), Kaiser Foundation Health Plan Oakland, California The Permanente Federation, Oakland, California Priority Health,

This is another step forward in the work to provide coverage to young adults with the release of new guidance from the Internal Revenue Service specifically stating that children can be covered tax-free now on their parents' health insurance policy. The new guidance also discusses incentives the Affordable Care Act provides for employers to immediately extend health insurance coverage to young adults.

Thursday, April 29, 2010

Business Edge Newsletter

Cost Management Creates a Firm Foundation

From the smallest proprietorship to the largest international conglomerate, cutting costs can often be perceived as a “quick fix” for improving bottom line. However, such cost management decisions may not the best long-term interest of an otherwise healthy company.

Click on the title link to read more:

Financial Monitor Newsletter

Guidelines to Consider When Planning Your Estate

Estate planning is not just a matter of saving dollars and minimizing taxes. The process of planning your estate also raises some difficult emotional and personal issues. First, it forces you to face the fact of your
own mortality; you are trying to plan for a time when you won’t be around to make decisions. Others, particularly those you love, will be affected by the plans you make now and will be required to exercise their own judgment once you are gone. For many people, the most difficult step in the
estate planning process is deciding who gets what and when.

Click on title link to read more:

Tuesday, April 27, 2010

Chamber Of Commerce Advises Businesses About Healthcare Law While Criticizing It.

CQ HealthBeat (4/27, Norman, subscription required) reports, "The US Chamber of Commerce is lambasting the new healthcare law, yet, at the same time offering advice to befuddled businesses large and small as portions of the law kick into effect as soon as later this year." This "puts the business group in an odd place, though one where it has many opportunities to publicly poke at the holes it sees in the overhaul's fabric. Bruce Josten, executive vice president for government affairs at the chamber, said Monday that his organization opposed the law (PL 111-148) out of the belief it will fail to lower rising health care costs and in the end will in fact increase them." Nevertheless, "'the fact of the matter is we have a new law,' he said, describing it as a 'stimulus bill for actuaries, benefit consultants and compliance attorneys.'"

Saturday, April 24, 2010

Health Reform May Lower Medicare Premiums, Boost Overall Health Tab.

The Los Angeles Times (4/23, Levey) reports, "The new healthcare overhaul championed by President Obama may result in lower Medicare premiums for seniors and a more sustainable Medicare program, according to an analysis of the legislation issued Thursday night by independent actuaries at" HHS. In addition, this analysis "suggests that the Medicare program will remain viable until 2029 -- longer than some earlier projections. Before passage of the healthcare overhaul, Medicare had been projected to slip into the red in 2017." Nevertheless, "the healthcare law also will push up the nation's total healthcare tab, as the federal government spends more than $800 billion over the next decade to expand health coverage to more than 33 million Americans, the analysts concluded."

Tuesday, April 20, 2010

Report Indicates Brand-Name Drug Prices Increased 9.1% In 2009.

The Wall Street Journal (4/20, Mathews, subscription required) reports that drugmakers increased prices for brand-name drugs by 9.1% in 2009, according to a report by Express Scripts Inc. Meanwhile, specialty drug prices jumped 11.5%, compared to 9.4% in 2008. While some drugmakers claim their pricing was not affected by the healthcare overhaul, analysts suggest the increases were tied to higher Medicaid rebates among other expenses drugmakers would have under the new law.

Medicare Payments For Acute-Care Hospitals' Inpatient Services Will Decline Under Proposed Rule.

Modern Healthcare (4/20, subscription required) reports that "Medicare payments to acute-care hospitals for inpatient services will decline by 0.1%, or $142 million, in fiscal 2011 under a proposed rule issued by the CMS." Modern Healthcare adds that, "in a written statement, Richard Umbdenstock, president and CEO of the American Hospital Association, said his membership was 'deeply disappointed with [the] proposal. Plain and simple: this policy will undermine hospitals' ability to care for patients and communities across the country.'"

Cost May Still Pose Insurmountable Barrier To Health Coverage For Many.

The New York Times (4/20, Rabin) reports, "According to the Congressional Budget Office, some 32 million more Americans will have insurance by 2019 under the new [healthcare] law, about half of whom will be buying health insurance on the individual market for the first time (the other half will be covered for the first time under Medicaid, which is being expanded to include more of the poor)." Yet, some experts are "skeptical that so many uninsured people would actually start buying insurance." Data show that most uninsured people "earn less than 200 percent of the federal poverty level," and 60% cite price as the main barrier to obtaining health coverage. Still, officials say that the new law includes subsidies which will help to offset the cost of health insurance.

Some Health Insurers Extending Young Adult Coverage Ahead Of Sept. 23 Deadline. USA Today (4/20, Young) reports that on Monday, "UnitedHealthcare, Humana, Kaiser Permanente, and WellPoint said they will put into effect some provisions of the new healthcare law ahead of schedule to let adult children stay on parents' plans until age 26." Although "the law's provisions relating to young adults won't take effect until Sept. 23...the companies said they are changing rules now to prevent young adults from falling into a coverage gap. Many plans have required adult children stay in school to keep dependent coverage, and age cutoffs vary by state."

The AP (4/20) reports that "UnitedHealth...said its extension starts immediately and extends coverage that graduating college students currently have from their parents until the healthcare reform provision takes effect.." For its part, WellPoint "said its extension starts June 1 and will extend coverage to all dependents." Notably, "the extension, which maintains coverage for young customers who generally use less healthcare, is not expected to affect premiums overall."

According to the Minneapolis Star Tribune (4/20, Yee), "Minnesota insurers said Monday they are looking at the issue. Blue Cross and Blue Shield of Minnesota said it would follow the lead of the national insurers for its members in the individual and small group markets," while "Medica said it would do so for members in the individual market, according to the Minnesota Council of Health Plans."

Modern Healthcare (4/20, Vesely, subscription required), Dow Jones Newswire (4/20, Wisenberg, subscription required) also cover the story, as did the NPR (4/19, Rovner) "Shots" blog and the Business Courier of Cincinnati (4/19).

Middle-Income Americans Losing Health Insurance Faster Than Others. The New York Times (4/19, Andrews) "Prescriptions" blog reported, "A combination of rising health insurance premiums and falling wages has hit middle-income people especially hard, causing them to lose health insurance coverage faster than workers both poorer and richer than they are," according to data released by the Robert Wood Johnson Foundation. "Over the 10-year period between 1999 and 2008, more than two million people with incomes from 200 to 399 percent of the federal poverty level (roughly $44,000 to $88,000 for a family of four), became uninsured -- an increase of 2.4 percentage points to 12.9 million people." That "represents an uninsurance rate of 16.2 percent," whereas "the 5.9 million people with incomes at or greater than 400 percent of poverty experienced an increase in uninsurance of 1 percentage point, to 5.8 percent in 2008."

Sunday, April 18, 2010

AMSInsure.com - Health Insurance California, Health Insurance Quote, Group Health Insurance, Medical Insurance California, Medical Insurance Quote, Online Quotes

"Long Term Care"

LTC Buyers Are Getting Younger
Long-Term Care Issues for Older Seniors
Why Long Term Care Insurance?
Your Assets and Your Children
Your Financial Affairs-Don't Keep Your Children in the Dark
Long Term Care Breakeven (How Long Will It Take)

Beware of Health Insurance Scams


It was bound to happen: health care reform triggered a flood of health insurance scams across the nation, fueled by consumers’ fears and confusion over what impact the new laws will have on them and their families. Bogus health insurance policies are being peddled via every media possible, so buyers beware.
In an April 6 letter to state officials, Secretary of Health and Human Services, Kathleen Sebelius urged them to be on the alert for scammers who are looking to lure people into buying worthless health insurance policies. Her agency had noted a recent increase in the number of health care-related crimes, and the numbers are likely to continue to rise.
The letter noted that “Media accounts indicate that fraudsters have gone door to door selling phony insurance policies. Some have attempted to make dishonest profits by urging consumers to obtain coverage in a non-existent ‘limited enrollment’ period that they falsely claim was made possible by the new legislation.”
Among those most often victimized are seniors. Sebelius said that her department was contacting seniors groups to alert them of possible fraudulent sales pitches for health insurance policies and health care related issues. Such sales pitches often come via a telephone call or door-to-door salesperson who uses high-pressure scare tactics.
Consumers should be wary of tactics that scammers often employ to lure in their victims. Here are some red flags:
· High-pressure scare tactics: If a salesperson tells you that a health insurance policy is only available at a special price or with special options for a limited time because of the new federal health care laws and that you should buy now, don’t.
· “Urgent” Internet and TV ads: Beware of advertisements that urge you to call a toll-free number to take advantage of special insurance coverage because of the new health care laws.
· Door-to-door sales: Legitimate health insurance companies do not use this sales approach any more. Do not fall for it.
· Too good to be true: If someone offers you a health insurance policy at a very low cost with great comprehensive coverage, it’s too good to be true. Health insurance is not inexpensive.
· Verify: If you are considering a policy with a company, verify that the company is licensed to conduct business in your state. Contact your state insurance office, or you can visit the website for the National Association of Insurance Commissioners, which provides detailed information and access to commissioners in all 50 states.
· Examine all documents carefully: Make sure you read all the documents the insurance agent gives you, that all the blanks are filled in, and that you keep a copy of anything you sign.
· Review your policy: After you get a copy of your health insurance policy, compare its contents with the paperwork that you signed to make sure you got what you agreed to buy, nothing more and nothing less. If there is any discrepancy, contact the insurance company immediately.
·
The search for affordable health insurance can be a challenge. Don’t be frightened into becoming a victim of a health insurance scam. If the individual who is trying to sell you a health insurance policy is offended because you ask lots of questions or you try to verify their credentials, that is an instant indication that something is not right. Protect yourself and your family.
SOURCES:Department of Health and Human ServicesNY State Insurance Department news release, April 14, 2010

Friday, April 16, 2010

Considering a Dental Plan for Your Business

Small business dental insurance plans are not in short supply and can be as complicated to navigate as health insurance. Searching for a comprehensive, yet affordable dental plan for your small business will demand the same level of diligence as you would allot for a medical plan to help keep company costs in line and maintain favorable employee relations.

Unfortunately, dental plans are usually an afterthought to medical health care coverage because there's no legal obligation for a business of any size to provide the benefit. As a consequence, many Americans don't have dental coverage. In 2008, a survey from The Segal Group, a benefits and human resource consultancy with offices across the U.S. and Canada, reported that dental coverage was the third-most-utilized health care coverage. Medical and prescription coverage take the No. 1 and No. 2 spots, respectively. The Segal Group, however, cautions employers to not overlook the importance of providing some level of dental benefit.

Dental insurance, like health insurance, is a definite plus in recruiting and retaining top talent. Here's a step-by-step guide to selecting and implementing a dental plan for your company.


How to Set Up A Dental Plan: Deciding What Plan is Best For your Company

There are several questions you'll want to ask yourself and other decision-makers within your company to determine what type of plan is best for your staff:

• What do I want my plan to look like?

• How much should I pay for coverage?

• How much should my employees pay for coverage?

Expect that the most popular plans are fully-employer funded, partially-employer funded or fully-employee funded:

• Fully-Funded Employer Plans: A plan wherein the employer bears 100 percent of the costs associated with providing benefits.

• Partially-Funded Employer Plans: Typically employers will pay less than 100 percent of the costs (traditionally about 80 percent) and the employees pick up the remaining balance (typically about 20 percent).

• Fully-Funded Employee Plans: Employees are responsible for 100 percent of the cost of the plan. On the back end the employer often takes over administrative costs and payroll deductions.

GET A QUOTE FOR FULLY INSURED PLAN
 
CONTACT US FOR PARTIAL OR FULL SELF FUNDED PLAN

Congress Extends ARRA COBRA Subsidy to May 31, 2010

As employers continue to consider health care reform and its coming changes to their workforces, Congress has approved legislation extending the federal COBRA premium subsidies to employees involuntarily terminated from employment through May 31, 2010.

The Continuing Extension Act of 2010 was passed by both the U.S. Senate and the U.S. House on April 15. President Obama signed it into law the same day.

The previous extension of the 15-month, 65 percent federal premium subsidy for involuntarily terminated employees expired March 31. The Continuing Extension Act further extends the COBRA subsidy eligibility period by two months to May 31, 2010. Assistance-eligible individuals will be eligible for up to 15 months of the subsidy.

It’s important to note that this recent amendment to ARRA’s COBRA subsidy program, as with others in the past, will not affect those assistance-eligible individuals who are already receiving the premium reduction and who remain eligible to continue to receive the subsidy for up to 15 months.

The subsidy program was first enacted as part of the American Recovery and Reinvestment Act of 2009 (ARRA). It has been amended several times, including by the Temporary Extension Act in March 2010, which made the subsidy available to an additional group of qualified individuals.

Individuals who experience an involuntary termination of employment on or after March 2, 2010, that follows a reduction in hours of employment occurring on or after September 1, 2008, are eligible for the subsidy program. Under COBRA there is no second qualifying event that follows a reduction in hours of employment. However, under ARRA, employers will need to report these second events.

Also, as in the previous extension, if the qualified beneficiary did not elect coverage as a result of their reduction in hours, the assistance-eligible individual would be entitled to elect COBRA as of the involuntary termination of employment, and any gap in coverage would be disregarded for purposes of pre-existing condition limitation.

Ceridian will continue to monitor Congressional activities regarding the COBRA premium subsidy program. As circumstances change, we will keep you informed.

Currently, Ceridian is finalizing its COBRA notices based on recent federal and state guidance. Where Ceridian is responsible for the notification, we will be providing notices to your participants within the timeframes specified in the guidance from the U.S. Department of Labor (DOL).

Our cross-functional teams are working to complete the following:

• Our systems are being updated to change the end date to May 31, 2010.

• Qualifying Event Notifications will be updated to include a revised Special Notice statement on the first letter.

• We are updating and printing additional notices required from the DOL guidance. Notices will be sent to all assistance-eligible individuals who experience a reduction of hours followed by an involuntary termination of employment on or after March 2, 2010.

• FAQs and Service Alerts are being updated as well.

For More Information about the COBRA premium reduction extension, you may visit the DOL Web site at www.dol.gov/ebsa/faqs/faq-cobra-premiumreductionEE.html.

NEED TO COMPARE COST FOR AN INDIVIDUAL PLAN or COMMING OFF COBRA click here

Eight things clients should know about buying travel insurance!

US Travel Insurance Association, April 14, 2010


The US Travel Insurance Association has formulated an 8 point checklist to help agents guide their clients in making informed decisions about travel insurance. "UStiA is issuing the checklist in light of a Florida Department of Financial Services warning to travel agents that any travel insurance sold must be underwritten by an insurance company fully licensed in the state," says Mike Ambrose, USA's immediate past president. "It's important to remember that companies providing travel insurance products, as well as sellers of travel insurance must be licensed by the state in which business is conducted. "


Client Tips


AMS-offers these eight consumer-wise hints to help with your travel insurance decision.


1. Know the company that is underwriting the policy. Ask for the name of the insurance company underwriting the policy. All legitimate policies must identify the insurance company.


2. If you are not familiar with the company providing your travel insurance, do a little research. Visit the company website. Check the credentials of the company's insurer through A.M. Best, an international insurance rating agency; or the Better Business Bureau. Also check for membership in the US Travel Insurance Association. The Web site carries a list of member companies, each of whom adheres to strict legal and ethical standards.


3. Buy from a reputable source such as a travel agent belonging to the American Society of Travel Agents (ASTA), or from a reputable cruise line, tour operator, airline, Internet site, insurance broker or directly from the travel insurance provider.


4. Assess your needs. Will you need medical protection, financial reimbursement in case you have to cancel your trip or a family member becomes ill, financial reimbursement in case your trip is delayed because of bad weather? Ask yourself what possible scenarios could develop to derail your travel plans.


5. Know if you have other coverage. When you travel, don't assume that you have the coverage you need from your credit cards, home owners insurance, airlines, or other sources. While these sources may offer limited coverage for some travel scenarios, only comprehensive travel insurance offers full protection under a single umbrella.


6. Know the difference between "Travel Protection," a travel waiver, and travel insurance:


- A Travel Waiver will usually give you a future credit with the same travel supplier for a missed vacation or cruise but will not financially reimburse you.


- "Travel Protection" may not be the same as travel insurance. While the term "Travel Protection" has been used by some unscrupulous companies, many legitimate companies also use it to describe travel insurance.


- Travel insurance must be underwritten by a legitimate insurance company and is regulated by the state in which it is sold.


7. Know what the policy includes. Always do your homework and read the policy carefully so you know what is and is not included. Most companies provide a customer service number for questions and answers, and also provide a grace period for cancellation.


8. Keep all appropriate paperwork/documentation. When traveling, keep records and save all receipts in case you have to file a claim for travel delay, medical treatment, lost luggage, or any of other unforeseen situations.

Travel Insurance you can count on> HERE

Thursday, April 15, 2010

Big News from the US Treasury Department & IRS

HSA Limits Set for 2011

Big news today from the US Treasury Department and IRS! They issued new guidance on the 2011 maximum contribution levels for health savings accounts (HSAs) and out of pocket spending limits for high deductible health plans (HDHPs) used in conjunction with HSAs.

The dollar levels remain the same in 2011 as those set for 2010. Specifically, for 2011:

 The maximum annual HSA contribution for individuals is $3,050 and $6,150 for families.

 Catch up contributions for those age 55 plus remains at $1,000 annually.

Health Savings Account is an alternative to traditional health insurance; it is a savings product that offers a different way for consumers to pay for their health care. HSAs enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis.  

Get A Quote at:  http://www.amsinsure.com/

Get a quote at http://www.amsinsurea.com/
 The maximum annual out-of-pocket limits for individuals is $5,950 and for families is $11,900.



 In 2011, the minimum deductible for HDHPs is $1,200 for individuals and $2,400 for families.

Wednesday, April 14, 2010

Thursday, April 08, 2010

Ceridian Health Care Compass

Health Care Reform: Beginning at Square One

As a first step, employers will need to sort out immediate priorities for this year and 2011.

Click on the link to view article.

Power Point Presentation

Provided by the National Association of Health Underwriters