Vincent K Blair Insurance Blog

Will the new health care law bring health care costs down? Not according to the Centers for Medicare and Medicaid Services, which is part of the Department of Health and Human Services. According to chief actuary Richard S. Foster, total healthcare spending will increase by almost $90 billion over the next 10 years, not decrease, as the Obama Administration asserts.  Foster further predicts that about 14 million people would lose their employer coverage by 2019 as smaller employers terminate coverage, forcing their workers into Medicaid. 
       And remember: Foster's office  is PART of the Obama Administration! 

Folks, the confusion over the new healthcare law is increasing... for good reason:  it's an extremely complex law with phased-in elements stretching roughly from this September to 2014. Click on this article for a good summary of reaction on the "street":
"New Health Care Law Spawns Mass Confusion"

If you're an individual Anthem Blue Cross customer, this is a good time to review your options because your rates will almost certainly rise between 17%- 30% in 2010 -- starting Jan. 1 for some of my clients.

Why the rate increase? Most people blame the insurance company but the fact remains that the biggest reason is rising medical costs --- not the greed of the insurance industry, whose profit margins average 3.3 %, according to one study. That's a rate well behind many other industries-- including hospitals.

There is something you can do: first, call an insurance broker who knows the ins-and-outs of Anthem Blue Cross.  For example, one man received a rate increase notice which raised his monthly premium to $1250. When he gave his current broker a call, she was able to write a plan that lowered that premium to $850.  When he called me, I was able to lower it even further, with 100% coverage after his deductible was met.

Don't rely on the information you get by calling Anthem directly; while they do their best, the people answering the phone may simply try to adjust your CURRENT policy; they may not tell you about another plan that may be better for you.   If you don't have an agent, or if your agent hasn't kept up with you, I invite you to call me to discuss Anthem's full product line. It could save you money and may even maximize the protection of your coverage.

After all, I don't want to see you get burned by rising health insurance rates in the New Year, especially if you can avoid it.