Wednesday, 21 March 2012 / Published in Applications, Individual Health Insurance

Most insurance companies consider health insurance “credible” if it is a group or medically underwritten individual medical insurance policy.

Why is this important?

*If you are moving from one group (usually employer sponsored insurance) to another, and have had previous “credible coverage” that was not interrupted for a period of 63 or more days, most pre-exiting conditions must be cover by the new plan.

*Although individual health insurance companies are not required to cover pre-existing conditions, even with prior credible coverage, they often offer better premium prices and eliminate “wait times” for those with this type of prior coverage.

I believe the reason for this is individual health insurance companies would prefer to offer plans to people who have had continuous coverage because the client will have a greater likelihood of having taken care of medical problems along the way, instead of waiting until they obtain a new policy to get issues attended to.

Many individual health insurance companies do not consider travelers insurance, student insurance and short term insurance credible.

And, you do not want to fib on a new application for health insurance about prior coverage, because if this is found out future claims may be denied.

If you would like to know more about how this might affect you, please give me a call at 303-541-9533.

Wednesday, 14 March 2012 / Published in Individual Health Insurance, Premiums

Well, to start off, you are a year older each birthday and thus statistically more expensive to cover. Now, the increase for a 25 year old that turns 26 is relatively small. But, for a 55 year old, with growing health care needs that turns 56, the increase can be significantly higher.

So, the older you are, the greater your increase will be each year.

Additionally, there is something called “medical inflation” that is different from your run-of-the mill cost of living increases. Medical inflation takes into account all the expensive new tests, prescriptions, procedures, etc. that come along each year. Your present plan will cover these, but there is a cost involved.

Then of course there are the new federal and state mandates larded on as requirements to health insurance plans. In the past few years the Affordable Care Act has added no co-pays for wellness visits, a provision that no child under 19 can be denied coverage for a pre-existing condition and eliminated any annual and life-time dollar limits to coverage as just a few of the new, expensive add-ons. In Colorado, the recent requirement that all new policies must cover maternity has also significantly increased costs.

These are the basics, but if you need a more detailed explanation go here.

Or you can just call me at 303-541-9533 and we can talk about some ways to trim your premium costs.

Under Colorado law, your child will automatically be covered by your (father or mother) insurance plan for the first 31 days of life, without notification or payment of premium.

If you do notify your plan of the child’s birth within the first 31 days, he or she will automatically be added to the plan going forward. As no new underwriting is required, this law is to assure coverage in the case that the child is born with problems.

Of course, you will be charged extra premium in the same manner you would for any new dependent.

Want to know more about it? Please give me a call at 303-541-9533

Don’t have the slightest clue what your health insurance covers?

As part of the Affordable Care Act the government intends to take care of that. According to a recent article by the Associated Press “the Obama administration says that’s going to change, starting this year. Officials announced that private health plans will have to provide consumers with a user-friendly summary of what’s covered, along with key cost details such as copays and deductibles.”

“Just six pages long. And no fine print.”

“Officials are calling the summaries a “nutrition label for health care,” trying to capitalize on the name recognition of those information panels found on packaged foods at the supermarket. Consumer groups say the health care version isn’t perfect, but it’s a start.”

“These documents will allow consumers to compare plans on an apples-to-apples basis,” said Medicare chief Marilyn Tavenner, who is also overseeing implementation of President Barack Obama’s health care law. If an insurance plan offers substandard coverage in some respect, they won’t be able to hide it in dozens of pages of text, she added.”

Call me cynical, but judging by past “clarification” efforts by the government on wording to our tax code, federal laws and something called “Plan Descriptions” for present health insurance policies, I am doubtful of anything useful coming out of this venture.

Wednesday, 15 February 2012 / Published in Personal Interests, Personal Observation

It’s an old joke:

What is the difference between jogging and running?

Answer: Running is my speed and faster, anyone else is just jogging.

I have been running/jogging on a fairly regular basis since I was 25, so that is 40 plus years now.

In thinking about it, the reason I run is split 50/50 between wanting to stay fit and the internal cleansing I feel after a half hour run through the neighborhood. I have often equated running to taking a shower on the inside.

I attempt to go out four times a week, anything more often and I start to feel run-down and lose interest. I try to augment the running with light weight work outs at the local YMCA, but I have never been able to maintain that for longer than a couple of months at a time. Running is so much easier, just change shoes and clothes and you are out the door.

I  go out all year long, but avoid the streets when there is snow and ice as I have taken some falls. On those occasions I avail myself of the YMCA indoor track (16 laps to the mile), but that feels more like work than play.

When I used to do a lot of businss travel, I would take my gear with me and try to get a run in in the evening.

I prefer to run the many fairly smooth dirt trails we have here in Boulder. However, I avoid those steep, rock and root strewn tracks along the foothills. On those, I believe it is not a question of if you will fall, but when.

I think about various things when I run and lately I have done some calculating in my head. I believe I am approaching having accumulated enough distance running to have circumnavigated the earth, 25,000 miles.

So, as I grow older and my pace surely slows, I’ll still be running, while those slower will only be jogging.

Dr. Don SchmidtCanyon Chiropractic Center - Boulder, Colorado
Thank you for saving us money on our health insurance! We really appreciated your willingness to 'hand hold' us through the process. It can be a daunting task to choose from all the available insurance plans out there. You made it almost easy!
Don MartingMartin Auctioneering - Longmont, Colorado
I can't thank you enough for helping me and saving me a significant amount of money. I truly believe that you had my best interest at heart.