Vincent K Blair Insurance Blog

Health insurance agents in St. Louis are needed more than ever!

Thu, 04 Nov 2010 22:16:00 GMT

Add this to the "unintended consequences" of the new healthcare law: health insurance agents in St Louis and around the country are getting squeezed out by the federal government. Thank goodness I am one of the health insurance agents in town that will be around for awhile but not so with many smaller St. Louis agencies who are reeling under the ill effects of health insurance reform. That's a shame because even though I compete with them, we all have the same mission: to lower the cost of health insurance for all our health insurance clients in the St. Louis area.

Ironically our services are needed now more than ever because of all the bewildering changes in the health insurance reform law. People are understandably confused about their options in this new health insurance landscape and a knowledgeable, licensed health insurance agent in St. Louis is their best option to navigate those choppy waters. Health insurance agents in St. Louis and around the country should band together to fight for our profession in the face of overbearing governmental pressure.

Big Companies and Unions getting waivers from New Healthcare Law

Wed, 03 Nov 2010 15:51:00 GMT

The unintended consequences of the new health care law keep piling up... about 30 large corporations including McDonald's, and at least two unions, like the United Federation of Teachers, threatened to either raise premiums or drop health insurance coverage altogether for their workers if they had to comply with it. So what did the government do? Exempted them from the new law, that's what!

It's just another example of the hard truth that the new health care law does nothing to control health care costs and in fact will increase them. Read this article in USA Today to learn more.

Health and Human Services to allow insurers to raise rates

Thu, 14 Oct 2010 18:47:00 GMT

Looks like the Feds will have to allow major insurance companies to raise rates for kids with pre-existing conditions. That's because the insurance companies had simply dropped their child-only insurance policies in response to the new health care law's mandate to accept all children at any time, no matter what their health condition. Raising rates will allow insurance companies to recoup at least some of the money they spend on sick children, so they can continue to offer insurance to all children.

In addition, Health and Human Services is also pushing for "open enrollment periods." This is also at the request of the insurance industry, which correctly pointed out the absurdity of "insuring" kids who are already in the hospital. Click here for the latest changes to Obamacare, as reported in the New York Times.

Why Health Insurance Companies are not the Villains

Mon, 27 Sep 2010 16:11:00 GMT

A simple fact has been lost in this entire debate over the new health care law: At 3.4 %, the health insurance industry is #87 on a list of industries ranked in order of their profit margins. The #1 most profitable industry? Beverages, at 25.9%! Coming in third at 24.6% are healthcare REITs -- essentially landlords for hospitals.

Yet it's health insurance companies which have been singled out as the "problem" with insurance affordability in this country! Read this U.S. News & World Report article entitled: "Why Health Insurers Make Lousy Villains" and share it with your friends.

First wave of healthcare reforms launch today

Thu, 23 Sep 2010 18:22:00 GMT

The first wave of reforms under the new health insurance law take effect today, six months after the bill was signed by President Obama. While some changes - like kids staying on their parents' plan until 26 and free wellness visits - may indeed be worthwhile and not raise your premiums much, other reforms will either raise your rates significantly or lead to insurers simply dropping coverage.

The most notable example of that so far is the new stipulation that health insurance companies cover children with pre-existing conditions. As far as I know, most major health insurance companies in Missouri have dropped "child-only" policies because of the new law. (They will still insure kids if Mom and Dad are already customers or will become customers.) Why? The insurance companies will lose money or risk bankruptcy if they "insure" kids who are already seriously ill. After all, that's not insurance any more - it's charity. So simply mandating coverage through the force of law doesn't mean the health insurance companies will comply. As we have seen, many will just drop that type of coverage.

Many of the media stories on this subject today either downplay the dropping of child-only policies or ignore it altogether, like this New York Times article.

New Law predicted to raise healthcare costs

Fri, 10 Sep 2010 22:05:00 GMT

The new health care law was billed as a way to lower total health care costs in this country over time. Now the government is telling us the opposite is true - total health care spending will actually rise by 2019, as this article points out. Now, granted, the increase is small - just $265 per American per year - but the trend is ominous. After all, what will the estimate be next year!?

Only a few dip their toe in Missouri's new high-risk pool

Tue, 07 Sep 2010 14:36:00 GMT

When the new health care law was passed earlier this year, much was made about new high-risk health insurance pools, run by individual states, which would offer coverage to people with pre-existing conditions. Missouri's plan launched in July but so far it has received just 70 applications and approved 47. That's out of almost 170,000 Missourians who are eligible for the high-risk pool.

Why the low-turnout? Program officials say they haven't started the "outreach" yet. Don't you think they should have started to spread the word before the program launched?! Read more about the Missouri high-risk health insurance pool here.

Unintended consequences of Healthcare reform

Thu, 26 Aug 2010 20:12:00 GMT

This is a good TIME magazine article on some unpleasant consequences of the new healthcare reform law. To summarize, independent brokers and agents, as well as many small insurers, could be forced out of business when the full brunt of the law comes into effect in 2014.

Is this the start of the Death Panels?

Tue, 17 Aug 2010 16:44:00 GMT

The FDA is considering revoking its approval of the drug Avastin for use on women with advanced breast cancer. True, the drug may only extend life by a few months but the precedent is disturbing, as this article from a British newspaper points out. Will the FDA become the 'death panel' detractors of the healthcare law warned us about?

Prop C sends loud message

Thu, 05 Aug 2010 14:50:00 GMT

Missouri voters spoke loudly and clearly August 3 when 71% of them voted for Proposition C, a state law which prohibits the government from requiring people to have health insurance or from penalizing them from paying for their own health care.

While several state legislatures have passed similar laws contesting the healthcare law's mandate to buy health insurance or else, and Virginia's attorney general has filed suit against it in that state, Missouri was the first state to put the question to the people. It seems the battle over healthcare reform is far from over... it's just moved from the Congress to the courts.

State Farm is 'subcontracting' out your health insurance

Fri, 30 Jul 2010 21:19:00 GMT

If you are thinking about buying State Farm health insurance, you might want to take a look at this webpage on our site.

State Farm is actually just a reseller of insurance from Assurant, based in Milwaukee. Nothing wrong with that -- I sell Assurant too, but I'm upfront with people about ALL their choices. l

United Healthcare, Assurant Dropping Child Only Coverage

Fri, 16 Jul 2010 21:21:00 GMT

While politicians, pundits and just plain regular folks continue to debate whether the new healthcare law will be good or bad for America, two large health insurance companies - United Healthcare and Assurant Health - have already rendered a verdict on at least one portion of the new law: the part which guarantees coverage to children with pre-existing health conditions, scheduled to be implemented in September 2010.

Their decision? To exit the business of offering "child-only" health insurance altogether. Instead, the two health insurance giants will only insure children if their parents are current customers or Mom and Dad are buying health insurance as well.

While many will be quick to attribute the move to greedy health insurance companies abdicating their responsibility to protect America's kids, it's a matter of simple economics. Although there is still much that is murky about the way the new law will be implemented, I can imagine some absurd scenarios. For example, under the new system, i.e. guaranteed coverage for pre-existing conditions, a social worker at St. Louis Children's Hospital can simply start handing out insurance applications to the parents of patients. The parents of a child with cancer, for example, whose bills might run tens of thousands of dollars a month, would be able to start paying premiums for,say, $125-200/mo. -- with the insurance company responsible for paying the difference.

Obviously I feel for the child with cancer, but that's not insurance anymore -- that's a social welfare program which has been shifted to the insurance companies.

Exasperating the situation is the recently-signed Missouri law which mandates that health insurance companies pay as much as $40,000 a year per child for autism treatments.

While the intent of the legislation was to bring down healthcare costs, I fear many people will see their health insurance premiums actually rise in the months ahead as these companies scramble to cover their losses insuring kids with pre-existing conditions. Other companies may follow the example of United and Assurant and simply stop offering coverage for children.

I know there is a problem with health insurance in this country but forcing the insurance companies to bear the burden by themselves is not the answer. This is just a taste of what 2014 will bring.

On January 1, 2014, the new healthcare law mandates coverage by health insurance companies of any person with any pre-existing condition, if they are not already covered by Medicaid or Medicare.

Only 36% approve of the new healthcare reform

Wed, 14 Jul 2010 21:44:00 GMT

CBS news has published a new poll that shows only 36% of Americans think the new health care law is a good idea.
(49% disapprove the plan; 15% have no opinion.)

Furthermore, by a 2-1 margin, Americans believe the new law will hurt them (33%), while 48% say it will have no effect. Only 13% believe it will help them.

More ominous signs employers may drop coverage...

Fri, 11 Jun 2010 20:53:00 GMT

There is more evidence that employers are getting increasingly nervous about changes that will be forced on their health insurance plans by the new health care law. Many are worried new regulations, which are being written now by the Department of Health and Human Services, will raise their health insurance premiums to the point where it would be cheaper just to pay the new penalty for companies that don't offer health insurance to their employees. Read this article for more information about why the new health care law might actually INCREASE the costs of health care in this country.

Canadian Healthcare system on shaky ground

Tue, 01 Jun 2010 14:25:00 GMT

The government-funded "free" healthcare system in Canada is often held up as a model for other countries to follow. But it seems like the model is showing signs of aging. What's the problem? Graying baby-boomers are starting to use more and more of the system's services, putting a huge strain on resources and threatening its very existence in its current form. Some provinces are being forced to take drastic action -- like requiring co-pays for doctor visits! Read more about the Canadian health care crisis in this enlightening article.