Navigating Health Insurance

As we approach 2014 and President Obama’s Patient Protection and Affordable Care Act (PPACA or, “Obamacare”) continues to unfold, one of the realities each and every one of us will have to face is that of the individual mandate. This is the part that essentially forces each American citizen to have some kind of credible health insurance, or else face some penalties that go up over time. Obviously, this individual mandate has gotten a lot of press, and continues to face legal challenges. But late last year the Supreme Court of the United States upheld it. So ultimately, as a consumer and/or business owner, you may be asking yourself: why is the government forcing me to get health insurance?   Matthew Byrne has made a career helping people find affordable health insurance. He is the founder of MyHealthQuoter.com, a Dublin-based brokerage providing health insurance for individuals, families and corporations. Mr. Byrne is a subject matter expert speaking frequently about Health Care Reform, Defined Contribution Programs, COBRA, and Medicare.

The Individual Mandate Beginning in 2014, the Affordable Care Act (ACA) requires most individuals to obtain acceptable health insurance coverage for themselves and their family members or pay a penalty. Because this provision has the effect of “requiring” individuals to have coverage, it is often referred to as the “individual mandate.” Individuals may be eligible for an exemption from the penalty in certain circumstances. On Jan. 30, 2013, the Departments of Health and Human Services (HHS) and the Treasury issued two proposed rules relating to the individual mandate. These rules outline exemptions from the individual mandate, explain how the penalty will be computed and establish standards and procedures for designating certain coverage as constituting “minimum essential coverage.” How Much Is the Penalty? The penalty for not obtaining acceptable health insurance coverage will be phased in over a three-year period, and is the greater of two amounts—the “flat dollar amount” and “percentage of income amount.”   Your host: Matthew Byrne has made a career helping people find affordable health insurance. He is the founder of MyHealthQuoter.com, a Dublin-based brokerage providing health insurance for individuals, families and corporations. Mr. Byrne is a subject matter expert speaking frequently about Health Care Reform, Defined Contribution Programs, COBRA, and Medicare. Contact: (614) 336-3636 or matt@MyHealthQuoter.com

What is Long-Term Care Insurance? It is designed to help pay for long-term medical and non-medical services that would otherwise be paid out-of-pocket. Some policies cover nursing home care, while others include coverage for an entire range of services such as care in an adult day care center, assisted living, medical equipment, and formal and informal home care. Long-term care policies pay benefits for you and anyone else you designate, such as your spouse, parent or child. Depending on the policy, it will either pay a fixed amount or reimburse you for services provided. Do I Need Long-Term Care Insurance? Similar to home, health and auto insurance, long-term care insurance is available to help protect you, your family and your assets. Family members are under pressure to help care for a growing number of elders, and resources to pay for long-term care are declining. When an elderly adult becomes sick and does not have any insurance, the burden to pay for medical care often falls on family – and that cost can be high. If you or your spouse, parent or child eventually needs long-term care services, the financial burden for the rest of your family may be steep. Your Host   Matthew Byrne with special guest Jerry Snyder (866) 577-3620

Travel Medical Insurance

Plans change. Natural disasters, political unrest, family illness. Look at COSTA CRUISELINES. Thousands of passengers were schedule to travel in the wake of this tragedy and now many are without trip cancellation insurance. It covers tours, cruises, safaris, home rentals, airline flights, extended visits overseas by students or adults, or almost any type of holiday or business trip that involves substantial, non-recoverable expense. Get price quotes and enroll here (trip cancellation) https://www.imglobal.com/applications/pte/index.cfm?imgac=320225 You have enough to worry about when you're traveling. Don't let your medical coverage be an uncertainty. IMG has developed two Patriot Travel Medical Insurance plans that offer a complete package of international benefits available 24 hours a day. You can also choose from a wide range of deductibles, several Maximum Limits, and you have access to more than 17,000 providers through our International Provider AccessSM (IPA) when seeking treatment outside the U.S. You can also reduce your out-of-pocket costs when seeking treatment in the U.S. by locating providers through the independent Preferred Provider Organization.   Get price quotes and enroll here (travel medical); https://purchase.imglobal.com/Quote/patriot?imgac=320225 Read more about the different wants to get covered here,   1) Mission Groups 2) Student Groups 3) Senior Travel 4) Chruch Groups 5) Travel and Study Aborad   For more info, call (866) 577-3620

Defined Contribution Plans and Private Exchanges Healthcare reform will require each state to set up a public “exchange” to help small businesses offer health benefits, but this won’t go into effect until 2014.   With the rising costs of healthcare, small businesses are looking for alternatives to expensive group plans. With the MyHealthQuoter.com Private Exchange, your employees will have access to a wide selection of top-tier insurance products. Your company can contribute  as little or as much as you’d like, and both employer and employee payments are 100% tax-free. You pick the price, employees pick the benefits Employees choose from dozens of real insurance plans offered through the exchange Immediate tax savings for you and your employees 100% online administration in less than 5 minutes per month through easy payroll integration Step 1Your Host Mr. Byrne is also co-founder and CMO of Spiralight Group & MyHealthQuoter.com and has developed proprietary systems and processes that leverage innovation to deliver cost savings to his clients. Mr. Byrne holds a Bachelor of Arts from Boston University and holds a life and health insurance license. Listen to my last episode Cost Savings Strategies for Group Health Plans at http://t.co/pQrO1Tvk       http://www.myhealthquoter.com/group-health-insurance.html (614) 336-3636 Matthew Byrne   http://www.myhealthquoter.com/group-health-insurance.html (614) 336-3636 Matthew Byrne

There are plenty of advantages to a Health Savings Account. Funds rollover each year, there’s no “use it or lose it (unlike a flexible spending account, FSA) and the account is FDIC insured. But the biggest advantage is the tax savings. One of the most attractive features of HSAs is their preferred tax status. Every dime you contribute into the account is tax deductible up to $3,100 per year for an individual or $6,250 for families. This tax deduction is available even if you do not itemize your deductions on your federal return. As long as the money is spent on medical-related items, you never pay income tax on the money that you contribute or the interest it earns. Unlike a flexible spending account, you are not required to spend the money within a certain timeframe, but can let the money grow year after year. Read more and watch a video about HSAs at my blog; http://www.ohioindividualhealthinsurance.net/?p=493 Contact us at (866) 577-3620 for more free information or visit http://www.myhealthquoter.com/index.html Your Host: Matthew Byrne Mr. Byrne is also co-founder and CMO of Spiralight Group & MyHealthQuoter.com and has developed proprietary systems and processes that leverage innovation to deliver cost savings to his clients. Mr. Byrne holds a Bachelor of Arts from Boston University and holds a life and health insurance license. View our episode called Secret Sauce, which explains those difficult insurance terms like deductible and coinsurance, http://www.blogtalkradio.com/myhealth/2011/12/05/secret-sauce

If you have recently lost your job, upon unemployment, some of you will qualify for a COBRA extension for your Ohio individual health insurance. However, not all companies are required to extend Ohio COBRA benefits (only companies with over 20 employees). Even if you do qualify for a COBRA extension of your Ohio health plan, you may notice that the cost of coverage is usually MUCH more expensive. Instead of only paying the employee contribution of your health plan,you will have to pay your contribution, the business contribution, and an administration fee. So many unemployed Ohioans are shocked to see their former contribution of a few hundred dollars significantly increase to a ohio health insurance premium of well over $1,000 per month when they take a Ohio Health Insurance plan COBRA extension! That is why people search for COBRA alternatives such as an Ohio individual health insurance plans.   Your Host:   Matthew Byrne   Mr. Byrne is also co-founder and CMO of Spiralight Group & MyHealthQuoter.com and has developed proprietary systems and processes that leverage innovation to deliver cost savings to his clients.   Mr. Byrne holds a Bachelor of Arts from Boston University and holds a life and health insurance license.   Part One, Listen to my last episode Cost Savings Strategies for Group Health Plans at http://t.co/pQrO1Tvk. #BlogTalkRadio

Part Two: Serigraph:  The Company that Solved Health Care   Learn the best practices that can help your company change, innovate and stem the tide of runaway health care costs.  In 2003, Kaiser Family Foundation estimated the average medical costs at $9,068 per family.  In 2003, Serigraph costs were $8,302 per family, 8.5% below the national average. In 2009, Kaiser Family Foundation estimated the average medical costs at $13,591 per family.  In 2009, Serigraph costs were $8,631 per family, 36% below the national average. The Serigraph gap continues to widen.  How did they do it?   Join us next week to find out how!  Your Host:   Matthew Byrne Mr. Byrne is also co-founder and CMO of Spiralight Group & MyHealthQuoter.come and has developed proprietary systems and processes that leverage innovation to deliver cost savings to his clients. Mr. Byrne holds a Bachelor of Arts from Boston University and holds a life and health insurance license. Part One, Listen to my last episode Cost Savings Strategies for Group Health Plans at http://t.co/pQrO1Tvk. #BlogTalkRadio

Question we will answer in this episode;   Is our program structure, plan design and pricing appropriate? Do we have all the right vendors, services, contracting and funding in place? Are our employee communication efforts appropriate and effective – especially in regards to employee health and wellness and consumerism? Do we have effective disease management and wellness programs for our employees? Do our pricing and plan design features encourage cost-conscious behavior on the part of our employees? Are we thinking about long-term solutions rather than simply quick fixes for this year?

Don't be fooled by confusing terminology and hidden costs.  Know the language and empower yourself as a super consumer.  Join us for a crash course on the things you'll need in your arsenal of weapons against being taken advantage of when you buy, shop or review your medical insurance.