Well, I didn’t think this explanation of health care coops would go on this long. But, it turns out there’s a lot to setting up new insurance companies. (Yes, I should recall how much it took to set up our liability insurance coop, as I described here.)
Continue reading The COOPs. Part 3. The end?
I have a few posts in the queue about the Affordable Care Act and how it’s been faring. In particular, how the actions of those that detest the act have made things more intolerable. But, today, I will be discussing how companies have been subverting the act for their own purposes.
Continue reading Corporate Overreach?
Yesterday, I explained how captive insurance companies are supposed to work. They serve as a means to minimize the risk, but don’t leave policyholders without any recourse- or, in the case of our firms, any potentially harmed folks without any chance to recover damages. Today, I will explain how this process is being subverted- these captives are being formed to rip off the public.
Continue reading Captive Insurance (2)
Captive insurance company. Sounds pretty cool. And, back in the 80’s, it was a critical juncture for us. We were a small provider of medical products. And, our product liability insurance was running 3% of sales- and growing fast.
Continue reading Captive Insurance (1)
Well, there goes that idea. Oh, not mine. But, a lot of mid-sized entities had the bright idea to provide their employees with tax-free cash to purchase their own insurance on the PPACA Health Exchanges (Obamacare). Now, they won’t be doing that…
Continue reading Whoops, there goes another kilowatt dam!
One of the key thoughts behind the idea of healthcare reform was to cut the cost of medical care. In America, more than 1 of every 6 dollars we spend is for health related expenses. (It was on track to be one of every 5 by this year- but that was before Obamacare [PPACA] was proposed and enacted.)
Continue reading Medicare sets the tone
Yesterday, we discussed indemnity, catastrophic, and conventional health care plans. One of the primary reasons to have a health care plan is to be able to get lower prices for each service that may be needed. Without such a plan, you pay what the provider wants- or get sued. The difference in pricing can be 90%. It is routine for me to see an Explanation of Benefits (EOB) detailing a bill that came in as $ 7244, was considered to be $ 1200 once reduced by my insurance carrier, and for my share of the costs to be only $ 50 or so.
Continue reading Isn’t there an easier way?
Oh, I know, you’ve heard that some folks’ insurance bill have escalated. I will not deny that changing from a catastrophic-coverage plan to a real health care plan is not more (even much more) expensive- but in the grand scheme of things for all citizens, that is not a big change. Because most Americans get their health care insurance at work.
Continue reading Indemnity my a..
Getting married? Even for the first time, if one of you is running their own business, a prenuptial agreement (prenup) may be in order. If either of you have children from a previous marriage, it is a critical consideration.
Continue reading What’s a 6 letter word for insurance?
Lately, data are indicating that the seemingly inexorable rise in our health care costs may be attenuating. Is this real? Or, just an artifact? Given that there are large variations in health costs across the US, what does this trend mean for our local, state, and federal taxes. And, given that these difference in regional costs will become exacerbated as more (Republican) states refuse to run their own health care exchanges, some of us are in for additional costs.
Continue reading Uncompensated Care