(This post was originally published in May 2013 and was updated in Nov 2016, Oct 2017, May 2018, Aug 2018, Nov 2019, May 2020, June 2021, May, 2022, and September, 2023) When you have insurance coverage through a high-deductible health plan (HDHP), you may establish a Health Savings Account (HSA). An HSA is an account into which you deposit money to pay for medical-related costs. There are many benefits of
Why Do I Need an Insurance Agent?
People often ask this question. And with just cause. After all, it seems pretty straightforward to go online, click a few boxes, and purchase health insurance. Or, if your employer offers group coverage, you simply read the employee handout and make your selection. But, without professional advice, can the average person really understand all of the provisions of an insurance plan and navigate an often-complicated claims process? Sometimes, it takes
Controlling Your Own Health Care Expenses
Wishing there was a way you could control your own health care expenses? We came across two interesting pieces in last week’s news that could mean help is on its way. First, the Centers for Medicare and Medicaid Services (CMS) released the results of a study which reveal enormous discrepancies in the fees hospitals charge their patients. Click here to read more, and be sure to check out the interactive
Healthy Spring Activities
Our experience helping thousands of clients get the right insurance coverage over the years has taught us firsthand that maintaining a healthy lifestyle is one of the best things you can do to manage the cost of health care. Springtime is a great time to take advantage of the nice weather and enjoy some outdoor activities. Here are some great ideas to consider: hiking/walking biking golfing planting and gardening throwing
Making Insurance Affordable
In an earlier post we defined adequate and affordable health insurance, noting that beginning on January 1, 2014, the Affordable Care Act (ACA) states that those people whose employer does not offer adequate and affordable group coverage will be able to purchase insurance on the exchange. One of the ways the new law attempts to make insurance “affordable” is through government subsidy for plans bought on the exchange. Last week,
Largest Maryland Health Insurer Proposes 25% Rate Increase
In big news for Maryland residents — and maybe a predictor of what is to come for the entire country — the largest provider of health insurance in the state of Maryland is proposing a 25% hike in its premiums in 2014, citing the increased cost of covering previously-uncovered preexisting conditions as set forth in the Affordable Care Act (ACA). Read the full story in an article published in the
Estimating Your Premiums and Possible Tax Credits in 2014
Wondering how much health insurance will cost you in 2014, when the next phase of the Affordable Care Act goes into effect? Curious about your eligibility for tax credits? Check out this quick and easy calculator. Give us a call if we can be of assistance!
Insurance Premiums on the Rise in Rhode Island
Blue Cross/Blue Shield of Rhode Island announced that health insurance premiums for its small business customers will increase by 15% next year. Individuals can expect an increase of approximately 18% next year. The company says without the passage of the Affordable Care Act (ACA), the increase would have been 10.3%. Does this signal a trend? We will keep watching and posting as more companies begin announcing their 2013 rates. Give
