Wednesday, August 31, 2011
Aetna Savings Plus info bleg
Looking for info on Aetna's new Savings Plus plan, currently marketed exclusively in the Cleveland (OH) area. Specifically interested in cost differential with their "regular" plans. Please drop me an email if you have relevant info.
Thanks!
Thanks!
Tuesday, August 30, 2011
States Beat Fed's
In a race to see who can enroll the most sick people in taxpayer subsidized health insurance plans the states win handily.
Agents that want to participate in the program must be willing to bend over and submit to the following.
Thanks, but no . . .
the Government Accountability Office found, the 27 states that operate their own pools had enrolled 15,781 people with pre-existing conditions. The federally-operated pool for the 23 other states and the District of Columbia, by contrast, only had 5,673 enrollees.
Wonder how many of our dollars have been spent promoting Obamapool?
The report found that enrollment figures ranged from 0 in Vermont and 1 in Massachusetts (both operated by the Department of Health and Human Services) to 3,191 in the state-run Pennsylvania pool.
In fairness, VT and MA are guaranteed issue states (no underwriting) so the only real appeal for these plans is the taxpayer subsidy.
In its response to the report, HHS said it has improved its enrollment efforts since the program first started in June 2010. The department points to increased outreach efforts, lower premiums and expanded eligibility, as well as its decision to pay agents and brokers for getting people enrolled starting this fall.
I doubt there will be much agent involvement. This agent is opting out.
Agents that want to participate in the program must be willing to bend over and submit to the following.
Broker understands and agrees that GEHA may, and is hereby authorized by Broker to, check the NIPR, IRS and any other websites maintained by applicable agencies or entities for information relevant to Broker. Broker also understands that GEHA may take action with respect to Broker that is based on such information, and will act in what GEHA believes is in the best interest of the PCIP Program.
To accept these terms and conditions, click on the "I Agree" button below to complete registration.
Paying More, Enjoying Less
From the land of "Duh!" comes this report from the folks at Kaiser Health News.
A survey of ages 18 - 64 with employer paid health insurance found that
- 60% were unwilling to pay more for brand name drugs
- 61% were not willing to opt for a higher deductible, even if it meant saving premium dollars
- 65% would not accept a more restrictive list of docs and hospitals
Well duh!
But a surprising (to me at least) 68% said they would be willing to participate in a wellness program.
I wonder if it is like those New Year resolutions that are well intended but somehow fall by the wayside in a few weeks. Gym rats hate January and February because of overcrowding, but by March things are back to normal.
Kind of like the Easter-Christmas church goers.
The poll found two-thirds of Americans are positive about one new government action on health care: the new rule that requires insurers to cover the full cost of birth control and other preventive health services for women. Not surprisingly, support is strongest among those of child-bearing age, while seniors are split about the plan.
Well of course.
Anything that is free is good, right?
More from the "D'unh!" Dept
There's actually quite a bit of schadenfreude in this article, but this damning indictment of ObamaCare© is actually far, far more damaging than anything we've ever written:
"The uninsured ranks among adults over 27 years old swelled from January through April of this year, according to Gallup, with 27- to 35-year-olds seeing the highest uptick. Nearly 27 percent of them are now uninsured."
What's so interesting about that (unvetted) number is that it represents an increase from the "record 50 million in 2009."
In other words, just like the Spendulus, ObamaCare© has actually exacerbated the problem, rather than resolve it. No worries, though, everything will be just peachy keen come '14.
"The uninsured ranks among adults over 27 years old swelled from January through April of this year, according to Gallup, with 27- to 35-year-olds seeing the highest uptick. Nearly 27 percent of them are now uninsured."
What's so interesting about that (unvetted) number is that it represents an increase from the "record 50 million in 2009."
In other words, just like the Spendulus, ObamaCare© has actually exacerbated the problem, rather than resolve it. No worries, though, everything will be just peachy keen come '14.
ObamaCare© Underwater
While the Northeast continues to drown from the effects of Irene, ObamaCare© continues taking on water, as well:
"Americans' opinion of Obamacare has reached an all-time post-passage low according to the Kaiser Health Tracking poll. Only 39% of those surveyed have a favorable view of the law"
That's a further 2 point drop since the spring of '10. What's particularly bothersome for its proponents is that support among Dems and Indies continues to fall. Inexplicably, Pubbie support has risen to 24% (kind of like being the tallest midget, one supposes).
Now, bad polling numbers doesn't equal repeal, but it certainly indicates that as the train-wreck's impact on health care and health insurance continues to further erode its support.
"Americans' opinion of Obamacare has reached an all-time post-passage low according to the Kaiser Health Tracking poll. Only 39% of those surveyed have a favorable view of the law"
That's a further 2 point drop since the spring of '10. What's particularly bothersome for its proponents is that support among Dems and Indies continues to fall. Inexplicably, Pubbie support has risen to 24% (kind of like being the tallest midget, one supposes).
Now, bad polling numbers doesn't equal repeal, but it certainly indicates that as the train-wreck's impact on health care and health insurance continues to further erode its support.
Grand Rounds is up!
Fisher at the Health 3.0 blog has a very cool edition of Grand Rounds today, selecting quotes from each post and "tagging" them based on different themes.
Monday, August 29, 2011
Look out below!
We last noted the fact that ObamaCare©=Doom for group health plans about two months ago. As we've noted all along, any sane employer is going to take a look at the Exchanges, then at the employer mandate and its concomitant fines, do some quick math, and come to the entirely rational conclusion that dropping group health coverage is a "no-brainer."
A few days (months) late and a few dollars short, the McPaper has finally glommed onto this exciting news:
"Nearly one in 10 midsize or large employers expects to stop offering health coverage to workers once federal insurance exchanges start in 2014"
Says whom?
Says Towers Watson, a major employee benefits consulting firm. And it's not just TW; Mercer (another independent health care and financial services research firm) has reached a similar conclusion: "8% are either "likely" or "very likely" to end health benefits once the exchanges start."
The TW report is actually a bit scarier (if one's spooked by these sorts of things), because it identifies another 20% of employers currently straddling the fence. What are the odds that the bulk of these are going to end up keeping their group plans?
Yeah, that's what I thought, too.
As a matter of policy, of course, I'm in the "anti-group" camp; that is, I don't think that one's health insurance should be tied to one's employment. But this isn't the way to get there.
[Hat Tip: Stop The Hit]
A few days (months) late and a few dollars short, the McPaper has finally glommed onto this exciting news:
"Nearly one in 10 midsize or large employers expects to stop offering health coverage to workers once federal insurance exchanges start in 2014"
Says whom?
Says Towers Watson, a major employee benefits consulting firm. And it's not just TW; Mercer (another independent health care and financial services research firm) has reached a similar conclusion: "8% are either "likely" or "very likely" to end health benefits once the exchanges start."
The TW report is actually a bit scarier (if one's spooked by these sorts of things), because it identifies another 20% of employers currently straddling the fence. What are the odds that the bulk of these are going to end up keeping their group plans?
Yeah, that's what I thought, too.
As a matter of policy, of course, I'm in the "anti-group" camp; that is, I don't think that one's health insurance should be tied to one's employment. But this isn't the way to get there.
[Hat Tip: Stop The Hit]
MVNHS©: Let's play "Leapfrog!"
As we noted almost 3 years ago, the MVNHS© has (at least) one dirty secret: private health insurance to help pay the bills that their "free insurance" doesn't cover.
And while we're seeking to emulate the British healthcare scheme, they're looking to dump it:
"Private patients will increasingly be able to "leapfrog" those on the NHS due to changes proposed in the Government's health reforms ... Even 14 of the elite group of foundation trusts ended the last financial year in deficit, a grim warning for the future of NHS finances" [ed: "trust" is MVNHS©-speak for "hospital"]
Wait, what?!
There's "grim news" about the British system's finances? But I thought that they're saving money hand-over-fist, all the while delivering healthcare far superior to us? And what's this about "private patients?" Haven't we been told that a nationalized scheme was so much more fair than our current system, since it deletes that very distinction?
It's almost as if we've been lied to all along.
And while we're seeking to emulate the British healthcare scheme, they're looking to dump it:
"Private patients will increasingly be able to "leapfrog" those on the NHS due to changes proposed in the Government's health reforms ... Even 14 of the elite group of foundation trusts ended the last financial year in deficit, a grim warning for the future of NHS finances" [ed: "trust" is MVNHS©-speak for "hospital"]
Wait, what?!
There's "grim news" about the British system's finances? But I thought that they're saving money hand-over-fist, all the while delivering healthcare far superior to us? And what's this about "private patients?" Haven't we been told that a nationalized scheme was so much more fair than our current system, since it deletes that very distinction?
It's almost as if we've been lied to all along.
Google Fine
The US DOJ fined Google $500 million for allowing advertising by Canadian pharmacies. According to the New York Times:
One can find almost anything on Google (and other search engines) including items that may be illegal.
If you want to gamble, you can find sites on Google.
If you want to engage in illicit sex, you can find sites on Google.
If you want to research people or places with the intent of planning a crime, you can do so on Google.
Why target online pharmacy's?
Just last week I helped a new client save over $100 per month on Lipitor.
Blue Sky is certified by CIPA.
Google was aware that some Canadian pharmacies that advertised on its site failed to require a prescription for substances like the painkiller Oxycontin and the stimulant Ritalin. Google continued to accept their money and assisted the pharmacies in placing ads and improving their Web sites, according to the Justice Department.Sorry, but I fail to see the problem.
One can find almost anything on Google (and other search engines) including items that may be illegal.
If you want to gamble, you can find sites on Google.
If you want to engage in illicit sex, you can find sites on Google.
If you want to research people or places with the intent of planning a crime, you can do so on Google.
Why target online pharmacy's?
After Google became aware of the investigation, it has required that all Canadian pharmacy advertisers be certified by the Canadian International Pharmacy Association and has specified that they can advertise to Canadian customers only. American pharmacy advertisers must be certified by the National Association of Boards of Pharmacy.For years I have been recommending Blue Sky Drugs to clients and friends as well as using them personally. The savings are significant.
Google had previously relied on the private firms Square Trade and PharmacyChecker.com to certify pharmacy advertisers
Just last week I helped a new client save over $100 per month on Lipitor.
Blue Sky is certified by CIPA.
Friday, August 26, 2011
The Activities Of Your Business With Professional Liability Insurance
Professional Liability Insurance are really mutual insurance that covers the course of action outside the company. In fact most companies are not protected against external damage that can occur in any part of their activities and external damage can be something like a star against property improperly stored on a sidewalk or delayed delivery resulting in the client loses the production line.
In some other cases, professional indemnity insurance can also create an overlap with other mutuals, which covers part of the company. This is mainly for supplementary insurance "goods" which, when purchased by a company, covers the same damage as this is already covered by the warranty company.
In some cases, additional professional indemnity traditional security method, which is often subject to refund. If an accident occurs for carrying expensive goods, guarantee the carrier will cover only up to certain limits, beyond which the value of property will not be covered.
Know more about Professional Indemnity Insurance visit here www.coulsonpritchard.com or call 01480 470220
Helping Jerry's Kids
Well, that's how I still think of them, anyway.
This year, I've agreed to participate in the "MDA Lockup" program, and hope to raise $1,600 by hook or by, well, phone, email, and the Web:
This year, I've agreed to participate in the "MDA Lockup" program, and hope to raise $1,600 by hook or by, well, phone, email, and the Web:
Please help out - all it takes is a click or two and a few dollars to help finally beat this terrible disease.
CLARIFICATION: I've had a number of folks tell me that they've decided not to participate because of how the MDA HQ (apparently) treated Mr Lewis. No disagreement here; in fact, I also did some soul-searching before agreeing to help out. For me, it came down to the fact that I didn't want to punish Jerry's kids because of rank bureauweenie stupidity. YMMV.
CLARIFICATION: I've had a number of folks tell me that they've decided not to participate because of how the MDA HQ (apparently) treated Mr Lewis. No disagreement here; in fact, I also did some soul-searching before agreeing to help out. For me, it came down to the fact that I didn't want to punish Jerry's kids because of rank bureauweenie stupidity. YMMV.
Is this a blip?
From the "Not Sure What to Make of This" Dept:
"Larry Klayman ... just won a round in court against the Obama administration's health care reform effort ... Freedom Watch, filed suit in 2009 against President Barack Obama and what Klayman called the "Obama Health Reform De Facto Advisory Committee."
Takeaway is that Big Pharma, Big Business, AARP and the AMA allegedly conspired to get ObamaCare© passed over the (vociferous) objections of the American People.
As an aside, this is pretty much what doomed HillaryCare, too: secret meetings with no transparency or accountability.
At this point, the judge has ruled only that Mr Klayman (et al) has met a sufficient burden of proof to enable him to get to the next round. It'll be interesting to see what, if anything, ultimately comes of this.
"Larry Klayman ... just won a round in court against the Obama administration's health care reform effort ... Freedom Watch, filed suit in 2009 against President Barack Obama and what Klayman called the "Obama Health Reform De Facto Advisory Committee."
Takeaway is that Big Pharma, Big Business, AARP and the AMA allegedly conspired to get ObamaCare© passed over the (vociferous) objections of the American People.
As an aside, this is pretty much what doomed HillaryCare, too: secret meetings with no transparency or accountability.
At this point, the judge has ruled only that Mr Klayman (et al) has met a sufficient burden of proof to enable him to get to the next round. It'll be interesting to see what, if anything, ultimately comes of this.
Thursday, August 25, 2011
Working With A Professional Liability Insurance
Many people make big money by selling their expertise and advice to various clients. Some of the best examples of these professionals are legal, accounting, advertising, etc. The work of these professionals is much riskier because they are responsible for the decisions they make every time. Therefore, it is recommended to protect against any potential claim with an insurance professional.
Many countries make it a mandatory requirement for those who want to give professional advice. But the development of an insurance agent of view, it is recommended for this policy, but not required. The ideal situation is to opt for maximum coverage, but you can customize and personalize your insurance to meet your needs and financial possibilities.
There are various offers of large insurance companies, and it is advisable to check their list of options before making a final decision. You should also consult an insurance agent, because they can not determine which product is best suited for you and your business. You can discuss everything with your insurance advisor and in so doing, you will not spend more than you can pay for your coverage.
There are basically 3 types of insurance: basic, medium, and the bathtub. Basic professional liability insurance provides financial compensation for clients injured in consulting loses the case. In the medium of professional indemnity insurance policy is a bit 'more expensive, but covers all claims and all legal fees to support the insurance company.
Full Option, the insurance will cover all the situations mentioned above and can also be argued that the ex-clients can do when you retire or close the business. You should choose the third type of insurance, because he had seen the best results so far.
Know more about Professional Indemnity Insurance visit here www.coulsonpritchard.com or call 01480 470220
Brave New Medical World
My wife and I enjoy relatively good health in spite of the fact we are part of the leading edge of baby boomers.
Rachel is a health and exercise nut. Working out at the gym 4 days a week. Popping vitamins and supplements like they were M&M's. Eating a Euell Gibbons diet of rocks and twigs washed down with Kefir.
On the other hand, I eat what I want and get my exercise by jumping to conclusions.
My wife takes one medication for dry eye, I don't take any.
We almost never see the doctor.
Lately both of us have had medical visits that are letting me know that Big Brother in Washington is watching our every move.
Two weeks ago at the dentist my hygienist asked more than the usual number of questions about my brushing and flossing routine. Each time I answered she input the data in a new laptop rather than writing it down in my chart.
When it comes to flossing, I am a bit lax and she knows it.
"How many times per week do you floss"?
The usual, was my response.
"So, is that 14x per week, 7x, or what"?
Just put PRN.
"So would 3x per week be about right"?
Does Washington really care how often I floss?
She rolled her eyes and said, we have to do this as part of EMR.
Earlier today I took Rachel to an urgent care facility. Appears it is nothing major, just some testing and an Rx for what appears to be a UTI.
Checking in, the lady at the desk ask several questions in addition to requiring a picture ID and her health insurance card.
Both were scanned and returned.
Then she was told to sign using an electronic pad to indicate the information she provided was accurate and she was agreeing to her HIPAA privacy rights.
They don't know who they are dealing with. She doesn't sign anything until she has read it.
"We can't provide you with a paper record due to federal privacy laws. You have to sign if you want us to see you".
Say what?
You want me to sign a release but you can't provide me with a copy of what I am signing?
This is nuts.
Is this really the world under Obamneycrap?
Yes, unfortunately it is.
Cancer Drugs in Short Supply
If you rely on Taxol to treat your cancer, you may be in trouble. Several Georgia cancer facilities are reporting difficulty in obtaining some cancer drugs.
According to the FDA:
"We are continuing to see these increased numbers for shortages, especially for older sterile injectable drugs," said Valerie Jensen, director of the FDA Drug Shortages Program. "These drugs are mainly used in hospitals and include cancer drugs, drugs needed for patients undergoing surgery and emergency drugs."
The reasons for the shortages vary. Some drug manufacturers are discontinuing older drugs and replacing them with newer ones, which are usually more profitable, according to the FDA. They are also recalling some drugs because of quality problems.
Dr. Bancroft Lesesne, chief executive officer and president of Georgia Cancer Specialists, said the drugs affected are most commonly used in breast, lung, lymphoma and colon cancer treatments. "There's a standard treatment we might recommend to a patient based on the disease and the stage," he said. "If the drugs aren't available we have to make substitutions. We think they're just as effective but you can never be quite sure."
"I don't see [the shortages] getting any better," he said. "One drug will become available and then there's a shortage of another. It's seems to be a moving target."
This is a serious problem for Georgia cancer patients.
Many health insurance policies issued today do not cover brand name drugs. Plans issued by Blue Cross, Golden Rule and many others include a drug discount plan, not real insurance.
The only thing worse than discovering your cancer drug is unavailable, is not being able to pay for it because you tried saving a few premium dollars by purchasing an inadequate health insurance plan.
Small Businesses Are Overpaying For Health Insurance
An article in American Economic Review has discovered that the majority of small businesses are over paying for small business health insurance.
The over payments are linked to the trouble some small businesses have comparing numerous quotes for health insurance, which increases the average paid by around 29%. Small businesses show a trend of switching policies frequently, something which can be costly. The suggestion is that policies offering similar coverage are being sold at a wide variety of prices, suggesting there is some obstacle to competition which would see most similar products sold at similar prices.
The massive variations in coverage offered by the insurance providers, alongside the different prices, makes the choice difficult for small businesses to find the best deal. The excessive policy switching also makes it difficult for insurers to price up the plans as it's not clear how long the customer will stick with them. These factors combine to create a volatile and ultimately costly marketplace where small businesses are the real losers.
The over payments are linked to the trouble some small businesses have comparing numerous quotes for health insurance, which increases the average paid by around 29%. Small businesses show a trend of switching policies frequently, something which can be costly. The suggestion is that policies offering similar coverage are being sold at a wide variety of prices, suggesting there is some obstacle to competition which would see most similar products sold at similar prices.
The massive variations in coverage offered by the insurance providers, alongside the different prices, makes the choice difficult for small businesses to find the best deal. The excessive policy switching also makes it difficult for insurers to price up the plans as it's not clear how long the customer will stick with them. These factors combine to create a volatile and ultimately costly marketplace where small businesses are the real losers.
Wednesday, August 24, 2011
How A Professional Responsibility Helps To Ensure The Needs Of Your Business
The importance of security in our daily lives can not be easily ignored. The purchase of insurance coverage has become one of the major life needs. Insurance has been extended by the principle of human existence.
The main advantage of insurance is that we can provide everything that we want our properties, property, health and even our own profession. Like our interesting properties, our business is also a valuable asset and is considered one of the m? Tessential in our lives. Our profession is something that makes the mold and the base of our existence. Our profession is also the seed through which to reap the benefits in our daily lives.
How does the Professional Indemnity Insurance to help ensure the needs of your company
We are all human beings, and are often subject to error. But when the question is what are the rules of professionalism made a mistake, our confidence we usually get. Generally do not admit that we can make mistakes. It 'is often the case in our lives negligence consistent, professional service for customers to pay financially, and often with heavy claims from your customers.
Know more about Professional Indemnity Insurance visit here www.coulsonpritchard.com or call 01480 470220
Good News/Bad News: Cardio edition
Unlike our unfortunate Neighbors to the North© or Cousins Across the Pond©, our hospitals are setting records for how quickly patients are seen:
"[H]ospitals are treating almost all major heart attack patients within the recommended 90 minutes of arrival, a new study finds. Just five years ago, less than half of them got their clogged arteries opened that fast."
In fact, whereas it took (on average) better than an hour-and-a-half "on line" only 6 years ago, that time was cut by about a third, to just over an hour in 2010. And that's not a one-off, rare occurrence, either:
"Americans who have heart attacks can now be confident that they're going to be treated rapidly in virtually every hospital of the country"
Says whom?
Says Dr. Harlan Krumholz, a cardiologist at Yale. And he should know, since he's the one who led the study that unearthed these terrific findings.
But that's still not the best part. This is:
"[I]t occurred without money incentives or threat of punishment. Instead, the government and a host of private groups led research on how to shorten treatment times and started campaigns to persuade hospitals that this was the right thing to do."
Too bad that this great news will be short-lived.
"[H]ospitals are treating almost all major heart attack patients within the recommended 90 minutes of arrival, a new study finds. Just five years ago, less than half of them got their clogged arteries opened that fast."
In fact, whereas it took (on average) better than an hour-and-a-half "on line" only 6 years ago, that time was cut by about a third, to just over an hour in 2010. And that's not a one-off, rare occurrence, either:
"Americans who have heart attacks can now be confident that they're going to be treated rapidly in virtually every hospital of the country"
Says whom?
Says Dr. Harlan Krumholz, a cardiologist at Yale. And he should know, since he's the one who led the study that unearthed these terrific findings.
But that's still not the best part. This is:
"[I]t occurred without money incentives or threat of punishment. Instead, the government and a host of private groups led research on how to shorten treatment times and started campaigns to persuade hospitals that this was the right thing to do."
Too bad that this great news will be short-lived.
Why I Dropped My Series 6: Reason #4,392
In addition to their "regular" insurance license requirements, agents who sell variable (ie securities-based) products must also have special licenses regulated by the Feds. These kinds of products would be mutual funds, and variable life insurance policies and annuities.
They do not (currently) include equity-indexed products (but don't be surprised...)
In the event, I used to hold such a license, and sold a few variable policies (and a handful of mutual funds, mostly as pre-HIPAA HSA vehicles ). After a short while, I realized that I didn't enjoy all the extra bookkeeping, accounting, and research that went with that territory, to say nothing of fielding the calls from clients unnerved by the vagaries of Wall Street. So, I turned it in and never looked back.
And boy, am I ever glad I did:
"Financial Industry Regulatory Authority Inc. communications record retention rules apply to all communications devices and technologies ... [including] member firms’ use of social networking websites and personal communications devices."
Yup: Twitter, FaceBook and text all count (no word yet on sexting or MySpace).
That means all those little messages buried in your BlackBerry or iPhone memory, and heaven help you if you delete older ones to recapture storage space.
Beep-beep.
They do not (currently) include equity-indexed products (but don't be surprised...)
In the event, I used to hold such a license, and sold a few variable policies (and a handful of mutual funds, mostly as pre-HIPAA HSA vehicles ). After a short while, I realized that I didn't enjoy all the extra bookkeeping, accounting, and research that went with that territory, to say nothing of fielding the calls from clients unnerved by the vagaries of Wall Street. So, I turned it in and never looked back.
And boy, am I ever glad I did:
"Financial Industry Regulatory Authority Inc. communications record retention rules apply to all communications devices and technologies ... [including] member firms’ use of social networking websites and personal communications devices."
Yup: Twitter, FaceBook and text all count (no word yet on sexting or MySpace).
That means all those little messages buried in your BlackBerry or iPhone memory, and heaven help you if you delete older ones to recapture storage space.
Beep-beep.
Cavalcade of Risk #138: Global to Personal
Nina Kallen, Esq hosts this week's collection of risky posts, neatly categorized from the macro to the micro.
HOSTING BLEG: We're currently scheduling for Fall Cavs. Just drop us a line to claim yours.
HOSTING BLEG: We're currently scheduling for Fall Cavs. Just drop us a line to claim yours.
Tuesday, August 23, 2011
The Job Of A Professional Liability Insurance
There are a lot of people who make money by selling their enormous expertise and consulting for various clients. Some of the best examples of professionals who are lawyers, accountants, advertising, etc., the work of these professionals is much more risky, because they are responsible for any decision. Therefore, it is strongly recommended that protect themselves with claims of professional indemnity insurance. There are many countries that make this a mandatory requirement for those who want to give professional advice. But the point of view, insurance agent, it is recommended that this policy, even if it is not mandatory. The ideal situation is to go to those, but you can modify and customize your insurance policy to suit your needs and financial possibilities.
There are a variety of offerings for insurance companies, and we recommend checking the list of options before a final decision. You should also consult with an insurance agent for them to determine which product is best suited for you and your business. You can discuss all your insurance consultant, and making sure you do not spend more than they can afford coverage.
Know more about Professional Indemnity Insurance visit here www.coulsonpritchard.com or call 01480 470220
How safe are your medical records? Are you sure?
It's a bit startling to consider, but we began blogging about the relative safety of medical records over 5 years ago:
"In a time zone 17 hours ahead, a radiologist in Australia, working for a company called NightHawk Radiology Services, had been sitting before the same images."
More recently, we noted that the MVNHS© had put the kibosh on their latest and greatest:
"A plan to create the world's largest single civilian computer system linking all parts of the National Health Service is to be abandoned by the Government"
The Brits were unable to justify the huge sums of money already sunk into that doomed effort, let alone throwing in even more. But there's a more pressing issue than just funding: just how safe is the information being stored in these data warehouses?
Why so serious, Henry?
Well:
"Until recently, medical files belonging to nearly 300,000 Californians sat unsecured on the Internet for the entire world to see ... Among the files were summaries that spelled out, in painstaking detail, a trucker's crushed fingers, a maintenance worker's broken ribs and one man's bout with sexual dysfunction."
More ooopsies.
Our co-blogger Kelley B (herself a Certified Medical Office Manager), has told me that the gummint has in place special funding incentives to get providers to move to electronic records-keeping. Early adopters are eligible for thousands (often tens of thousands) of dollars in "free money" if they opt for new data storage systems.
But is this "rush to adopt" really a good thing?
The benefits of this brave new world are touted as increased efficiency and better patient outcomes, but I've seen scant evidence of either - at least no direct links controlled for other factors. Which is not to say that such do not exist, but if that's truly the case, show me the data.
One of my favorite computer aphorisms is "garbage in, garbage out;" which is to say, these systems are subject to human error at any number of stages. I'm no Luddite, and I can see where there are certainly efficiencies in moving away from paper-based files, but I'm not convinced that these replacement systems are a step forward.
"In a time zone 17 hours ahead, a radiologist in Australia, working for a company called NightHawk Radiology Services, had been sitting before the same images."
More recently, we noted that the MVNHS© had put the kibosh on their latest and greatest:
"A plan to create the world's largest single civilian computer system linking all parts of the National Health Service is to be abandoned by the Government"
The Brits were unable to justify the huge sums of money already sunk into that doomed effort, let alone throwing in even more. But there's a more pressing issue than just funding: just how safe is the information being stored in these data warehouses?
Why so serious, Henry?
Well:
"Until recently, medical files belonging to nearly 300,000 Californians sat unsecured on the Internet for the entire world to see ... Among the files were summaries that spelled out, in painstaking detail, a trucker's crushed fingers, a maintenance worker's broken ribs and one man's bout with sexual dysfunction."
More ooopsies.
Our co-blogger Kelley B (herself a Certified Medical Office Manager), has told me that the gummint has in place special funding incentives to get providers to move to electronic records-keeping. Early adopters are eligible for thousands (often tens of thousands) of dollars in "free money" if they opt for new data storage systems.
But is this "rush to adopt" really a good thing?
The benefits of this brave new world are touted as increased efficiency and better patient outcomes, but I've seen scant evidence of either - at least no direct links controlled for other factors. Which is not to say that such do not exist, but if that's truly the case, show me the data.
One of my favorite computer aphorisms is "garbage in, garbage out;" which is to say, these systems are subject to human error at any number of stages. I'm no Luddite, and I can see where there are certainly efficiencies in moving away from paper-based files, but I'm not convinced that these replacement systems are a step forward.
Grand Rounds - Pretty as a Picture
The estimable Dr Bates hosts this week's collection of interesting (and often provocative) medblog posts.
Monday, August 22, 2011
More Confidence To Financial Advisors
In Australia, the federal government to provide guarantees against defects in professional insurance held by various financial advisors who are under the proposals being pushed by Maurice Blackburn. Law firm of the applicant states that the existing rules requiring advisers to keep "adequate" professional liability insurance is often seen as "grossly" inadequate.
The insurance company wants the consultants to be in possession of sufficient insurance to cover at least $ 5m claim. In addition, the company has asked for a common prosperity in any amount that exceeds the limit mentioned above.
Richard St. John, who is a leading financial services and well-known and expert in corporate governance, has been holding several meetings on a possible legal compensation scheme that is induced by the collapse of the financial storm and OPEs first. Final Report Richard St. John on the same is expected to go to the Treasury in August.
Know more about Professional Indemnity Insurance visit here www.coulsonpritchard.com or call 01480 470220
Life sales up?
The Medical Information Bureau (MIB) is often the frontlines when it comes to life insurance underwriting. Typically, participating carriers turn to the clearinghouse to check up on new applicants. So this little tidbit may be more significant than might be apparent:
"U.S. life insurers researched more requests for individual coverage in July than they did in July 2010."
As we noted a few weeks ago, sales of Long Term Care insurance are on the rise; and so, it would appear, is the sale of life insurance. This shouldn't be surprising, really: with an uncertain economy, very few (if any) risk management vehicles beat life insurance for creating certainty.
I found this little nugget particularly toothsome:
"(G)rowth in activity for older applicants [age 60 and up] has been strong."
Whether this is for estate planning purposes, or because investment values have declined so sharply of late (increasing the need for estate creation), who can say? But the MIB says that "activity" in this cohort is up over 9% from just a year ago. Food for thought.
"U.S. life insurers researched more requests for individual coverage in July than they did in July 2010."
As we noted a few weeks ago, sales of Long Term Care insurance are on the rise; and so, it would appear, is the sale of life insurance. This shouldn't be surprising, really: with an uncertain economy, very few (if any) risk management vehicles beat life insurance for creating certainty.
I found this little nugget particularly toothsome:
"(G)rowth in activity for older applicants [age 60 and up] has been strong."
Whether this is for estate planning purposes, or because investment values have declined so sharply of late (increasing the need for estate creation), who can say? But the MIB says that "activity" in this cohort is up over 9% from just a year ago. Food for thought.
On Packages and Details
Years ago, we discussed a (then-new) effort by Blue Cross of Minnesota to standardize how the costs of various medical procedures would be explained to insureds. We lauded this effort because, for most people, EOB's (Explanation of Benefits) provided little in the way of detailed information about those costs and how insurers made them understandable to "normal" folks.
We also appreciated that this effort was undertaken voluntarily bu Blue Cross, and hoped that it might pressure other carriers to follow suit.
So one might think that we'd also laud the latest stupidity from the still-unconfirmed CMMS Administrator Donald Berwick:
"We are telling insurance companies that they need to be more transparent about the benefits they offer, what they are spending premium dollars on, and justifications for any proposed rate increases"
Right, Donny-boy, because you've been so forthright all along.
The fact is, plain-language rules have been in place for many years, and consumers don't read those policies. So what possible reason is there to increase admin costs on carriers?
But wait, it gets stupider [ed: is that even possible?]:
"This is all grounded in the idea that the more informed the patient is, the better decisions he or she can make."
Um, no.
First, because unlike Minnesota Blue's transparency effort, it's about plan design, not claims adjudication. Your car's owner's manual may be helpful in telling you how to change a headlight bulb, or reset the clock, but it's not going to tell you how much a new transmission costs or what brand of tires to buy.
Second, this is a direct assault on ERISA (aka "self-funded") plans:
"[S]ince most large employers customize the benefit packages they provide to their employees, some health plans could be required to create tens of thousands of different versions of this new document"
So much for that much-touted 3000% premium savings.
We also appreciated that this effort was undertaken voluntarily bu Blue Cross, and hoped that it might pressure other carriers to follow suit.
So one might think that we'd also laud the latest stupidity from the still-unconfirmed CMMS Administrator Donald Berwick:
"We are telling insurance companies that they need to be more transparent about the benefits they offer, what they are spending premium dollars on, and justifications for any proposed rate increases"
Right, Donny-boy, because you've been so forthright all along.
The fact is, plain-language rules have been in place for many years, and consumers don't read those policies. So what possible reason is there to increase admin costs on carriers?
But wait, it gets stupider [ed: is that even possible?]:
"This is all grounded in the idea that the more informed the patient is, the better decisions he or she can make."
Um, no.
First, because unlike Minnesota Blue's transparency effort, it's about plan design, not claims adjudication. Your car's owner's manual may be helpful in telling you how to change a headlight bulb, or reset the clock, but it's not going to tell you how much a new transmission costs or what brand of tires to buy.
Second, this is a direct assault on ERISA (aka "self-funded") plans:
"[S]ince most large employers customize the benefit packages they provide to their employees, some health plans could be required to create tens of thousands of different versions of this new document"
So much for that much-touted 3000% premium savings.
Huge Increase in Travel Insurance Claims
The amount claimed from travel insurance policies has increased almost 400% in the last few years, with insurers claiming the increase in older people indulging in exotic foreign holidays and those taking a 'gap year for grown ups' are responsible. The outgoings for overseas illness had increased to £275m in 2010, up from just £74m in 2004.
With travellers over 65 three times as likely to claim as those under 35, and those over 85 8 times more likely, the increased average age of travellers is being held responsible for the increase in claims. With UK travellers venturing beyond the EU the European Health Insurance Card fails to bear the brunt of the cost of care, leaving insurers with the bill.
Given the nature of the industry it's hard to imagine this increase in outgoings won't be mirrored by an increase in profits. The underwriters in the industry are more than aware of the risks in insuring older travellers and will no doubt have their figures correct. The advice to travellers is to make sure not to just select the cheapest health insurance quote, but to ensure you pick one which covers all your needs should you require to claim.
Source
With travellers over 65 three times as likely to claim as those under 35, and those over 85 8 times more likely, the increased average age of travellers is being held responsible for the increase in claims. With UK travellers venturing beyond the EU the European Health Insurance Card fails to bear the brunt of the cost of care, leaving insurers with the bill.
Given the nature of the industry it's hard to imagine this increase in outgoings won't be mirrored by an increase in profits. The underwriters in the industry are more than aware of the risks in insuring older travellers and will no doubt have their figures correct. The advice to travellers is to make sure not to just select the cheapest health insurance quote, but to ensure you pick one which covers all your needs should you require to claim.
Source
Friday, August 19, 2011
Healthy news, healthy views ...
Being a cheery lot here at Your Private Healthcare Insurance Blog, we're not ones to dwell on some of the - what shall we term them? - challenging economic headwinds that blow from time to time.
There are many ways in which we can all stay physically and financially healthy - insurance being one of these - but of course it pays to be mindful to the whole panoply of health assistance out there.
Some examples of this kind of thing would include keeping up to date with the health pages of the broadsheet newspapers - always worth a read, and they don't just report on developments within the healthcare and medicine industries - there's also a wealth of advice in there too about how to keep yourself in good shape - I think the Telegraph even has an expatriate health section - which shows just how comprehensive the info available at your fingertips is these days.
Of course it's always a good idea to put health ideas into practise - whether it's reviewing your health finances or just taking up an interest in healthy eating and cooking.
In fact, some days it's probably best to go straight to the health pages - oh, okay, maybe the football pages too. And the crossword. And not forgetting the TV listings too...
Cavalcade of Risk #138: Call for submissions
Nina Kallen hosts next week's CavRisk. Entries are due by Monday (the 22nd).
NB: We're now using this submission tool: The BC WorkAround
Once there, you'll be asked to provide:
■ Your post's url and title
■ Your blog's url and name
■ Your name and email
■ A (brief) summary of the post ("Remarks")
At the bottom of the form, you'll see a drop-down menu; simply select "Cavalcade of Risk" then press "Submit" and you're good to go.
And PLEASE remember: ONLY posts that relate to risk (not personal finance tips and the like).
HOSTING BLEG: We're currently scheduling for Fall Cavs. Just drop us a line to claim yours.
Thanks!
NB: We're now using this submission tool: The BC WorkAround
Once there, you'll be asked to provide:
■ Your post's url and title
■ Your blog's url and name
■ Your name and email
■ A (brief) summary of the post ("Remarks")
At the bottom of the form, you'll see a drop-down menu; simply select "Cavalcade of Risk" then press "Submit" and you're good to go.
And PLEASE remember: ONLY posts that relate to risk (not personal finance tips and the like).
HOSTING BLEG: We're currently scheduling for Fall Cavs. Just drop us a line to claim yours.
Thanks!
Thursday, August 18, 2011
Alzheimer’s? I'll drink to that!
About a month ago, we mentioned a few preventive measures that seem to stave off this dreaded disease (of course, since we don't really know what causes Alzheimer's, it's all pretty much circumstantial evidence). Be that as it may, new research shows another potential "vaccine" of sorts:
Loyola University's Stritch School of Medicine "reviewed studies dating to 1977 that included more than 365,000 participants ... Moderate drinkers were 23 percent less likely to develop cognitive impairment or Alzheimer’s and other forms of dementia."
Wine showed the most promise, although the researchers were quick to point out that "this finding was based on a relatively small number of studies, because most papers did not distinguish types of alcohol."
Ooops.
Still, not sure what harm can be done by following the implied prescription.
Loyola University's Stritch School of Medicine "reviewed studies dating to 1977 that included more than 365,000 participants ... Moderate drinkers were 23 percent less likely to develop cognitive impairment or Alzheimer’s and other forms of dementia."
Wine showed the most promise, although the researchers were quick to point out that "this finding was based on a relatively small number of studies, because most papers did not distinguish types of alcohol."
Ooops.
Still, not sure what harm can be done by following the implied prescription.
Wednesday, August 17, 2011
Stupid "Beneficiary" Tricks
They say that the difference between comedy and tragedy is time. I would add "and common sense," as well:
"The suspect in the case of a Maryland woman who disappeared in Aruba took out an insurance policy before heading out on the trip"
Now, it's possible that the missing woman also took out a policy on Mr Giordano, but of course our press is too wrapped up in the story of the moment to check out this rather obvious point.
The perp Mr Giordano made a rather interesting choice in policy design, as well, opting for the "accident only" plan rather than one which might have required additional underwriting. The article mentions that he chose "the pricier one-year plan instead of a cheaper, five-year policy," which of course makes no sense unless they're comparing a "regular" term policy with the accident-only plan, thereby completely contradicting themselves in the process.
Of course, buying a large, non-underwritten plan in anticipation of an "accident" is itself rather poor judgement: after all, one is forbidden to profit from one's crimes in this manner. More critical, of course, is that if it's an accident-only policy, and there's no body, then there's no way to prove how (let alone if) the victim died, thereby neatly letting the insurer completely off the hook.
For now, anyway.
Prof James Moriarty this guy ain't.
"The suspect in the case of a Maryland woman who disappeared in Aruba took out an insurance policy before heading out on the trip"
Now, it's possible that the missing woman also took out a policy on Mr Giordano, but of course our press is too wrapped up in the story of the moment to check out this rather obvious point.
Of course, buying a large, non-underwritten plan in anticipation of an "accident" is itself rather poor judgement: after all, one is forbidden to profit from one's crimes in this manner. More critical, of course, is that if it's an accident-only policy, and there's no body, then there's no way to prove how (let alone if) the victim died, thereby neatly letting the insurer completely off the hook.
For now, anyway.
Prof James Moriarty this guy ain't.
Stupid Government Tricks
From the "What Were They Thinking?" Department:
"The Equal Employment Opportunity Commission today sued a Raleigh insurance office for not hiring a recovering drug addict who tested positive for methadone in his system."
Yes, druggies and their pals could probably use additional insurance coverage (although Underwriting may have some reservations), and of course existing clients would probably be thrilled to know that their private financial information (not to mention a nice list of all their valuables) would be under the watchful eye of a meth-user.
Pure. Genius.
"The Equal Employment Opportunity Commission today sued a Raleigh insurance office for not hiring a recovering drug addict who tested positive for methadone in his system."
Yes, druggies and their pals could probably use additional insurance coverage (although Underwriting may have some reservations), and of course existing clients would probably be thrilled to know that their private financial information (not to mention a nice list of all their valuables) would be under the watchful eye of a meth-user.
Pure. Genius.
End to Dialysis?
The federal government is looking for ways to save tax dollars and one way is to encourage those with ESRD to enter hospice rather than go on dialysis. Congress established this "entitlement" program In 1972 when treatment options for End Stage Renal Disease were limited. According to the New York Times,
dialysis and transplants were new procedures that were not covered by health insurance. There were horrifying stories — rich people got dialysis and lived while poor people died.
A bit of class warfare that decides who lives and who dies.
Now Congress is looking for ways to save money and one way is to encourage those on Medicare to just go ahead and take one for the team.
at that time (1972) fewer than 40 patients per million would need dialysis, and that most of those patients would be healthy — except for their failed kidneys — and under age 54.
Now more than 400 people per million start dialysis each year. More than a third of the patients are 65 or older, and they account for about 42 percent of the costs. People over 75 make up the fastest-growing group of dialysis patients. And most elderly dialysis patients have other serious diseases like diabetes, heart failure, stroke and even advanced dementia. One-third of them have four or more chronic conditions.
Unintended consequences . . .
Recent studies have found that dialysis does not prolong life for many elderly people with other serious chronic illnesses. One study found that the procedure’s main effect is to increase the chances that such patients will die in the hospital rather than at home.
Save tax dollars. Send grandpa home.
A committee of the Renal Physicians Association recently formulated guidelines to use in deciding when dialysis is appropriate. It provides questions that doctors should ask themselves before suggesting the treatment. One is the “surprise” question: Would I be surprised if this patient is dead within a year?
Well that is certainly comforting!
Don't be surprised if Congress doesn't come up with a way to encourage dying over dialysis.
For Further Information On Professional Responsibility
Involved in a business service provider that require capacity and awareness, there may be a good idea for you a professional liability insurance or PI. Any business can be covered by such insurance. Your organization has escaped all accidents and diseases created by the customer due to a misunderstanding about the service provided to an end. Legal fees can also be added to the insurance professional.
Today, there are countless online insurance service provider. Among the few offers available, the functions faster and tailored to your needs to invest in their insurance online. Some packages include other insurance including major insurance companies to make a comparative study of available insurance is best for you to choose the right insurance for your needs.
Companies should always have a professional indemnity insurance to protect their pilots. Professionals such as lawyers, accountants, brokers and architects have accident insurance for the type of field before. In other words, professional liability insurance is a prerequisite for any company, including a charming service. This insurance is spreading globally exponentially. You and your organization may be in the middle of the debts and liabilities, such as defamation, the food is terrible, because the law of negligence, breach of the laws, the virus downloads a list of arbitrators, libel, trademarks copyrights, etc. if not to engage in professional responsibility.
Know more about Professional Indemnity Insurance visit herewww.coulsonpritchard.com or call 01480 470220
Health benefits at work: what do staff want?
Most workplaces offer at least some employee benefits, which can be a great way to raise morale levels and increase staff loyalty.
The perks offered can vary from things such as discount childcare, to free parking - but according to a recent article in The Guardian, many employees are becoming increasingly worried about the financial impact of poor health and periods of absence.
The article reports that 1/3 of workers are worried about falling ill and not getting paid, while 11% of staff have taken at least six months off already throughout 2011.
So in light of these recent figures, should more employers be offering business medical insurance and income protection for times of illness?
Medical insurance is generally accepted as a valuable staff benefit, which in turn is useful to the employer too – as bmi can offer things such as Saturday appointments, and reduced waiting lists, which may help reduce sickness absence. And if staff know that their employer is dedicated to keeping them healthy and helping them get back to work quicker after a period of illness, it is possible that, coupled with income protection, private medical insurance could be a preferred benefit over discounted childcare and car parking.
What do you think? Would you like your workplace to provide medical insurance?
Tuesday, August 16, 2011
MassCare© meets ObamaCare©: Travesty Ensues
It's generally accepted, "conventional" wisdom that RomneyCare© begat ObamaCare© (hence Bob's newest buzzword, ObamneyCare). Along with the (Evil) Individual Mandate, RomneyCare introduced other problems, many of which have (until now) flown under the radar.
Remember back during the original ObamaCare© "debate," when we first learned about the "Cornhustler" deal? Nebraska was vying for the very first ObamaWaiver©, wherein it would be exempted from onerous new Medicaid financing requirements. Well, that particular effort failed to pay off for the Cornhusker State, but over on the east coast, there's a new storm a-brewin':
"Sen. John Kerry inserted a provision into Obamacare that changed Medicare reimbursements for hospital pay ... The Globe reported that Massachusetts hospitals will rake in an extra $275 million a year from the change."
Or, more accurately: hospitals in most of the the other 57 states are on track to be screwed out of almost $300 million. Per year. How many indigents would this pay for? How many new doc's or nurses? How many MRI's?
This pretty much sums it up:
"It is a massive wealth transfer from the rest of the country to those seven states."
Pretty tasty ketchup, Sen Kerry.
Remember back during the original ObamaCare© "debate," when we first learned about the "Cornhustler" deal? Nebraska was vying for the very first ObamaWaiver©, wherein it would be exempted from onerous new Medicaid financing requirements. Well, that particular effort failed to pay off for the Cornhusker State, but over on the east coast, there's a new storm a-brewin':
"Sen. John Kerry inserted a provision into Obamacare that changed Medicare reimbursements for hospital pay ... The Globe reported that Massachusetts hospitals will rake in an extra $275 million a year from the change."
Or, more accurately: hospitals in most of the the other 57 states are on track to be screwed out of almost $300 million. Per year. How many indigents would this pay for? How many new doc's or nurses? How many MRI's?
This pretty much sums it up:
"It is a massive wealth transfer from the rest of the country to those seven states."
Pretty tasty ketchup, Sen Kerry.
Coming up short?
Maybe, maybe not:
We've written pretty extensively about Long Term care insurance (LTCi), but there's a new kid in town, goes by the name of Short Term Care insurance (STCi).
Issued by Banker's Life (#7 on the LTCi charts, and rising), it offers some interesting twists on the LTCi concept.For one thing, the maximum benefit amount available is $100, and there's no real "choice" in product design: there's a 30 day waiting (elimination) period and a maximum benefit period of 180 days My bad: the maximum daily benefit amount can be up to $200, and other elimination periods and benefit multipliers are available.
There's one inflation protection option (5% compound), and it's available as a facility-only or facility and home care plan.
Two things I really like about this design:
First, it's issued based on a "simplified underwriting" basis; that is, the application is fairly simple, with just a few "gatekeeper" questions. This makes it appealing for folks who may not qualify for a full-blown underwritten LTCi plan.
Second, it's a "pool" based plan. That is, once you settle on a plan, you're given a "pool" of money on which to draw, which makes it a little more flexible than it might appear at first blush.
Let's say you pick the $100 a day plan. That immediately gives you $18,000 worth of care dollars to play with. So let's say you're in a nursing home for 2 months (60 days), and the cost is actually $80 a day. Starting in the second month, Banker's would pay out $2,400 ($80 times 30 days), but you'd still have over $15,000 in your "bank."
Pretty cool.
Of course, it's not Partnership Compliant, but I'm of the opinion that, for folks looking at this kind of policy, that's not a major issue.
In any case, it's nice to see some outside-the-bun thinking.
We've written pretty extensively about Long Term care insurance (LTCi), but there's a new kid in town, goes by the name of Short Term Care insurance (STCi).
Issued by Banker's Life (#7 on the LTCi charts, and rising), it offers some interesting twists on the LTCi concept.
There's one inflation protection option (5% compound), and it's available as a facility-only or facility and home care plan.
Two things I really like about this design:
First, it's issued based on a "simplified underwriting" basis; that is, the application is fairly simple, with just a few "gatekeeper" questions. This makes it appealing for folks who may not qualify for a full-blown underwritten LTCi plan.
Second, it's a "pool" based plan. That is, once you settle on a plan, you're given a "pool" of money on which to draw, which makes it a little more flexible than it might appear at first blush.
Let's say you pick the $100 a day plan. That immediately gives you $18,000 worth of care dollars to play with. So let's say you're in a nursing home for 2 months (60 days), and the cost is actually $80 a day. Starting in the second month, Banker's would pay out $2,400 ($80 times 30 days), but you'd still have over $15,000 in your "bank."
Pretty cool.
Of course, it's not Partnership Compliant, but I'm of the opinion that, for folks looking at this kind of policy, that's not a major issue.
In any case, it's nice to see some outside-the-bun thinking.
