cq-life-and-health-blog

Long-Term Care Costs in South Carolina

Thu, 03 Nov 2011 22:37:49 +0100

How Much Does Long-Term Care Cost in South Carolina?

Long-term care costs can be extraordinarily high. Much of the cost is determined by how and where you receive it. Not only do costs vary significantly throughout the United States as a whole, costs can also vary drastically at the state level also.

In 2011, the average cost of nursing home care (semi-private room) in South Carolina is approximately $63,875 annually. A private room in a nursing home facility is South Carolina averages $67,525 per year.

For those South Carolinians that who wish to live in their own home instead of a nursing home facility, the 2011 average annual cost of a home health aid is approximately $38,896.

For more information and competitive quotes on long-term care insurance in South Carolina, please visit www.carolinaquoter.com

Choosing the Right Medicare Supplement

Mon, 17 Oct 2011 23:44:54 +0100

The majority of Medicare beneficiaries are constantly inundated with a wide variety of advertisements and mailings, but the fact remains that few individuals truly understand their coverage options. With all of the recent cuts to the Medicare Advantage programs, many consumers need to make a change before they are adversely affected with higher out of pocket costs or doctors that will no longer accept their plan. The good news, however, is that there are more Medicare supplement programs available now than ever before. Modernized plans are now being offered in South Carolina, so it's time to learn a little bit more.

What is a Medicare Supplement?

Many consumers understand that their Medicare coverage is designed to pay 80% of most qualified expenses after the required deductibles have been met. Few people, however, realize how expensive the remaining 20% could prove to be. If an individual is hospitalized or requires surgery, the total bills could easily reach hundreds of thousands of dollars. There are not many consumers that can afford to pay 20% of this amount, nor is there anyone that would want to if they could. A Medicare supplement is designed to pay the remaining balance that would be left over after the original coverage pays its portion.

Do I Qualify for a Medicare Supplement?

As with any other type of health insurance or supplemental coverage, there are questions that must be answered on the application with regards to the medical status of an applicant. Underwriters will review the responses and possibly check the prescription drug database to determine which medications are being taken. Many companies vary in their underwriting policies, so it is often possible for a consumer to find coverage. When an individual decides to apply for a Medicare supplement has a lot to do with the application process. For example, consumers that are just turning 65 have an initial enrollment period that allows them to apply for any program without any underwriting. Individuals that are leaving group health coverage, or even a Medicare advantage plan in some cases, will also have the opportunity to be guaranteed enrollment into their supplemental plan o choice.

How Do I Compare Medicare Supplement Plans?

The Center for Medicare and Medicaid Services has made it remarkably easy for consumers to compare their options, and all plans are now modernized and standardized. Each plan, which is classified by a letter, will offer the Medicare beneficiaries certain coverage. For example, a Plan F will pay virtually everything that original Medicare does not pay and will not require any types of deductibles. A Plan N, however, will require the part B deductible to be paid and will have a co-pay at the doctor's office or emergency room. Each Medicare supplemental insurance company that offers a particular plan will have to adhere to the guidelines set forth for that plan, so a Plan F with company A is going to offer the same coverage as a Plan F with company B. The most important thing to look for is the current premium and a company's history of price increases. While contacting multiple companies could prove to be a tedious process, the easiest way is to utilize an online tool that allows comparison shopping to be completed with ease.

There is an incredible amount of information circulating around about Medicare supplement insurance, so it can be tough to decide what the best coverage truly is. By being able to compare plans on a level playing field, consumers can ensure that they are making the most appropriate selection and will be obtaining adequate protection from unexpected medical expenses.

In order to get a quote to review your options on Medicare supplements in South Carolina, visit our website for your instant quote.

Gerber Medicare Supplements

Thu, 03 Feb 2011 18:55:04 +0100

Gerber Life is an established company offering outstanding life insurance products since 1967. The company has long had the goal to address the needs of families of all sizes. The primary goal of Gerber Life is to provide protection and financial security to its customers throughout their lifetimes by offering affordable insurance and financial products. Gerber life Insurance Company is pleased to now offer Medicare Supplement insurance to its $33 billion life insurance bouquet. The Medicare Supplement Insurance is underwritten by Mutual of Omaha. In order to be eligible for the plan, you must currently be enrolled in both Medicare part A and B. Medicare supplement plans cover costs that Medicare does not cover and have helped millions adjust to the financial burden of rising health care costs.

Gerber’s Medicare Supplement Insurance fills in the coverage gaps of Medicare and is sometimes referred to as Gerber Medigap Insurance. In South Carolina, medicare supplement plans, on average, assist with 20% of the health care costs that Medicare plans do not cover. If covered by a Medicare Supplement Plan, you do not have to worry about finding a provider within a particular network. The plan offers its members the freedom of seeking medical attention from any doctor or any medical facility that accepts traditional Medicare Insurance.

Prescription drugs can be a costly recurring expense for patients and often require adjustments to patients’ budget in order to cover the necessary prescriptions. Those covered by Gerber Medicare Supplement plan have the opportunity to take advantage of an additional plan designed to support the cost of medications. There are Medicare Advantage plans that allow members to combine their health care and prescription drug plans to be used in conjunction with the Medicare Supplement.

If you relocate out of South Carolina, your Gerber Medicare Supplement health insurance will follow without a lapse in coverage. No matter where you go, you will have the freedom to choose any health care provider who accepts Medicare. You will find the rates of Gerber Medicare Supplements are competitive in many states. Your rate will depend upon several factors; your age at the time of enrollment and the state you live will all be taken into consideration. You can contact our office for a free quote and we will work to help you find the best plan for your needs.

Having a well-rounded plan when it comes to medical coverage is important, especially in these tough economic times when the costs of health care are increasing. One of the biggest decisions you will make will be your health care coverage. For the support Medicare Supplement Insurance provides, it is a smart option for additional coverage.

For more information on Medicare Supplement Insurance in South Carolina, please visit CarolinaQuoter.

The Pre-existing Condition Insurance Plan Benefit of the Affordable Care Act

Wed, 02 Feb 2011 02:55:03 +0100

The Patient Protection and Affordable Care Act was signed by President Obama on March 23, 2010. The provisions of the law are going to take effect over the next four years. Among other benefits, this new legislation has the potential to make health care more available and affordable for many Americans who presently do not have coverage. One of the main advantages of the new law is that people who have children up to the age of 19 with pre-existing medical conditions can now purchase health insurance they previously could not buy.

Since July of 2010, residents of South Carolina have been able to purchase medical insurance through the State's Pre-existing Condition Insurance Plan (PCIP), which is being run by the Department of Health and Human Services. Before you can apply for PCIP you or your child must have been denied insurance because of a previous health problem and have had no insurance for at least six months.

Because of this law, some parents who have a child with certain pre-existing conditions will be able to buy health insurance for this child for the first time. Pre-existing conditions can be life-threatening illnesses such as cancer, but they can also be fairly common illnesses in children such as asthma and diabetes. This new law covers a large area of benefits including hospitalization, prescriptions and both primary and specialized care from physicians. It is not difficult to imagine the tremendous cost of medical treatment for parents of a child with a serious disability or illness. Prior to this law these parents had to make heart-wrenching decisions regarding crucial care for their children. For parents whose children have conditions that were previously uninsurable, this new law may be of benefit. Before this law was enacted many families were going into bankruptcy or losing their homes because of outrageously high medical bills.

Starting January 1, 2011 the PCIP plan will be improved so that there will be a choice of three plan options which will provide more alternatives to fit particular needs and lower premiums. The three plan options are to have five different age bands for coverage fees. All plan options will have varying calendar year deductibles and varying prescription deductibles and copays. When you go to an in-network doctor, all plan options will cover preventive care 100% with no deductibles. This includes routine cancer screening and mammograms as well as flu shots and annual physicals.

The PCIP's are designed to act as a stopgap until health insurance exchanges are created in each state. These are intended to be present by 2014, whereupon anyone without health care coverage will be able to purchase it on an exchange. Until then, this law has established an insurance program of $5 billion for the estimated 6 million Americans who have pre-existing medical conditions. Beginning in 2014, this law will also apply to adults over the age of 19, who will then be able to utilize this insurance.

Despite the controversy regarding this new law, it is indisputable that its provisions will afford many Americans health care benefits they have previously been denied. The rules and regulations are not perfect and some people will still fall through the cracks. But the overall outcome should be positive for most who previously found they were uninsurable.

For instant health insurance quotes, please visit CarolinaQuoter.com.

Choosing the Right South Carolina Health Insurance Plan: A Basic Guide

Tue, 01 Feb 2011 02:38:13 +0100

Navigating the individual health insurance super highway has never been more difficult. Health care reform law has created multiple speed bumps, making the decision process more complicated. Not only does the South Carolina consumer need to consider basic options such as co-insurance percentages, deductibles, premium amounts, type of health insurance (PPO, HMO, POS, HSA, Supplement, etc.), one now needs to consider the implications associated with the new health care reform legislation and the impact it will now have on consumer choice. The following road map will help make the decision somewhat easier.

1. There are two chief elements of individual health Insurance. These two elements are provider network and financial protection. A health insurance policy is only as good as the medical access it grants. Does your plan’s network contain a large number of physicians? How close is the nearest network hospital or cancer center? After the scope of the medical network is determined, you need to evaluate the financial safeguards offered by the plan – policy premium, maximum out-of-pocket, deductible and coinsurance. A good South Carolina health insurance agent can demonstrate how the policy will pay given certain circumstances (annual physical, catastrophic illness such as cancer or cardiac arrest, etc.).

2. Determine which type of policy is a good fit for you and your family. There are basically three types of health insurance plans in South Carolina: point-of-service plans (POS), health maintenance organizations (HMO), and preferred provider organizations (PPO).

Health Maintenance Organizations are the most restrictive type of medical network. However, HMO’s are often the most affordable. Typically, an HMO institutes a ‘gatekeeper system’ providing the health insurance consumer a restrictive and specific channel for specialist referrals. Often, patients involved in a health maintenance organization, are limited to seeing only medical providers in the network.

A preferred provider organization is a network of independent physicians, hospitals and medical facilities contracted with the PPO to provide medical services at negotiated discounts to members. A PPO allows you to stay in-network and enjoy reduced rates. A preferred provider network also allows members to seek medical services out of network for a fee.

Point-of-service plans are PPO and HMO hybrids. A POS plan is similar to a PPO plan with some of the cost-saving characteristics of HMOs. For instance, a point-of service plan will require you to visit your primary care doctor before being referred to a specialist.

3. Adjust your current plan or change your plan/ health insurance carrier. Health insurance rates continually increase with factors such as inflation, new medical technologies, advanced drug therapies, medical malpractice and healthcare reform. To compensate for the annual premium increases, the health insurance consumer has several choices. Most insurance carriers operating in South Carolina will allow the client to make changes to their current plan without requiring additional underwriting if the consumer is willing to take on more liability. For instance, consider the individual with a traditional 80/20 copay plan with a $1,000 deductible and prescription benefits from Company A. Company A may also allow this individual to select a higher deductible without requiring additional underwriting thereby reducing the plan premium making it more affordable. Company A may allow this same individual to choose an entirely different plan such as a qualified high deductible health plan just as long as the insurance carrier is taking on a reduced liability.

Often, it is not enough to simply make changes to an existing health insurance plan. Maybe the selected changes do not meet your financial objective. Maybe the reduction of premium is not significant enough. Maybe the higher deductible or coinsurance percentages leave you more vulnerable to potential financial risk. If this is the case, it may be worthwhile to consult with a health insurance expert. It might be in your best interests to select a South Carolina health insurance plan with a new carrier.

4. Don’t be lured in by low introductory rates. Some health insurance carriers will offer plans at a low introductory rate only to significantly raise the rate at the policy anniversary. When this happens, it is generally easy enough to switch carriers – unless a pre-existing condition of significance develops while you are enrolled in the plan. Such a scenario might leave you unable to switch carriers thereby compelling you to pay a considerably higher premium than would be required by originally choosing a more realistically priced plan with a more ‘stable’ carrier. Tom Swayne of the David Gilston Insurance Agency, Inc. in Charleston, South Carolina puts it this way: “You can play musical chairs with the insurance carriers by switching from one carrier to another whenever there is a significant premium increase. This works fine until the individual develops a pre-existing condition and the music stops”.

5. Open a Health Savings Account (HSA). I spend much of my time educating my clients about the benefits of qualified high deductible health plans that qualify for a health savings account. HSA programs offer four very important features: control over how your health care needs are met, lower monthly premiums, tax savings, and account ownership/ portability. These consumer-driven health plans allow contributions to be deducted from your pre-tax income. In addition, these contributions can be used to pay for medical related items such as dental expenses, prescription drugs, physical therapy, transportation and lodging expenses on a pre-tax basis.

6. Consider your grandfathered status. A “grandfathered health plan” is any health insurance plan that was in existence on or before March 23, 2010. For grandfathered plans, certain provisions must be made part of the South Carolina health insurance plan. For more information on what grandfathered means to you, please visit my Health Care Reform blog post.

The aforementioned suggestions merely cover the basics in choosing the right South Carolina individual health insurance plan. For specifics regarding your particular situation, please be sure to contact a competent South Carolina health insurance agent.

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Health Insurance for the Self-Employed

Tue, 01 Feb 2011 02:29:14 +0100

Many experts would agree that if you are self-employed in South Carolina, you should purchase a competitive Health Savings Account (HSA) plan. An HSA plan also known as a qualified high deductible plan (QHDHP), is typically lower in premium cost compared to a traditional 80/20 coinsurance plan with a copay and prescription coverage.

Health Savings Accounts have many advantages over traditional health insurance plans.

1) HSA health insurance plans have lower premiums and thus are more affordable than traditional copay plans.

2) HSA health plans often cover the insured's 'in network' medical bills at 100% after the deductible has been met.

3) The monies deposited into an interest bearing Health Savings Account can be used to pay for many medical, dental, and prescription treatments all tax free.

4) The monies deposited into an HSA roll over annually. There is no such thing as 'use it or lose it' when it comes to Health Savings Accounts.

5) A portion of the monies deposited into the Health Savings Account is considered a tax-deductible contribution by the IRS.

In South Carolina, the bottom line is that HSA's make good financial sense when one takes into account reduced premiums and the significant tax advantaged status offered by this type of health insurance plan.

For more information on HSA's in South Carolina, please visit CarolinaQuoter.com.

Use Caution When Filling Out a Health Insurance Application

Tue, 01 Feb 2011 02:33:51 +0100

When filling out a South Carolina health insurance application, be sure to cross all of your T's and dot all of your I's. Read the application thoroughly. Health insurance companies want to accept applications from those people that are of average or better than average health. They do not want to accept applicants that are likely to have large medical expenses in the future. After all, health insurance companies are profit making entities.

Inaccurate information on a South Carolina health insurance application can be terms for cancellation in the future if discovered. Many insurance carriers do not spend a lot of money screening applicants because this would be cost prohibitive. Instead, the carriers execute a full investigation when there is a significant claim. If it is determined that the health application information is inaccurate, this could be cause for the health insurance carrier to cancel coverage and not pay that claim or future claims. If it is determined that the health insurance application is deliberately inaccurate, the insurance carrier can also seek criminal charges.

For more information about health insurance in South Carolina, please visit CarolinaQuoter.com .

Health Insurance and Pregnancy

Tue, 01 Feb 2011 02:41:16 +0100

What type of health insurance coverage should I be seeking if I decide I want to become pregnant?

Someone deciding to become pregnant would be very fortunate if their employer offered group health insurance. HIPAA laws require employers to cover maternity and offer health insurance coverage to newborns regardless of any preexisting conditions. If you or your spouse work for a company that offers employer-sponsored health insurance benefits, then both mother and baby will be covered. If you or your spouse do not work for a company that offers health insurance benefits, consider going to work for a company that does.

If you do not have access to employer-sponsored health insurance, consider securing an individual health plan. This may require more planning on your part because maternity coverage is optional and benefits are often tier or graded after a separate deductible has been met. For instance, some health insurance carriers will offer pregnancy coverage with a separate maternity deductible of $5,000 or more. Other carriers will offer a graded maternity benefit. For example, the carrier may offer a 5 percent benefit during the first year; a 60 percent benefit for the second year; an 80 percent benefit during the third year; and a 100 percent benefit for year four and beyond. If you do decide to go the individual health insurance route, plan ahead.

Looking for competitive health insurance quotes?

Health Insurance Buying Tips

Tue, 01 Feb 2011 02:42:14 +0100

Buying health insurance can be a complicated task but it does not have to be that way. Here are some basic tips when it comes to shopping for health insurance in South Carolina.

    *Be sure you feel comfortable with the insurance carrier. Your state Department of Insurance has information on every health insurance carrier operating in your state. A financially sound insurance company with a long history in your state is likely to be around tomorrow. The last thing anyone wants to deal with when it comes to such an important commodity as your family's health insurance is cancellation of coverage because the carrier has decided to pull out of your state.

    *Learn about the various health insurance plans offered in your state. Are you a good candidate for an hmo, ppo or pos? Shop and compare health insurance plans. A South Carolina licensed health insurance broker can help you with this at no charge.

    *Sign a health insurance application only after you have thoroughly reviewed it for accuracy. You do not want to be turned down because you mistakenly omitted important health information. You certainly do not want your health policy canceled when you need it the most because of an error in your application.

    *Always pay by credit card, money order or check. Never pay by cash.

    *Always ask for a receipt.

    *Purchase a major medical plan first when possible. Limited benefit plans should be secondary in importance. These health insurance policies offer limited health coverage for a particular setting (hospital expense plan, accident only coverage) or disease (cancer plan, critical illness). Owning a limited benefit plan only is acceptable if you do not qualify medically for major medical health insurance.

For free health insurance advice and quotes in South Carolina, please visit CarolinaQuoter.com .

Healthcare Reform in South Carolina - The Basics

Tue, 01 Feb 2011 02:44:16 +0100

Healthcare Reform is a result of two massive bills being signed into law by President Obama. The primary purpose of the law is to provide health insurance to the estimated 30 plus million Americans who currently do not have health insurance. Many of the details of the new law are forthcoming.
In South Carolina, determining the impact Health care Reform will have on you and your family will have a lot to do with whether your health insurance plan has grandfathered or non-grandfathered status. Simply put, a “grandfathered health plan” is any health insurance plan that was in existence on March 23, 2010.
For grandfathered plans, certain provisions must be made part of the South Carolina health insurance plan. These provisions are associated with health insurance renewals after September 23, 2010 and include:
· Dependent coverage to up to age 26. This provision allows adult children to remain on a parent’s health insurance plan until age 26 provided group health insurance coverage is not offered by the employer. The dependents may be married and do not have to be full-time students.
· Pre-existing conditions coverage through age 18. Health insurance plans in South Carolina may no longer impose pre-existing illness limitations on people up to age 19.
· Elimination of Lifetime Dollar Limits. South Carolina health insurance plans will no longer have lifetime limits.
· Annual Dollar Limits on essential benefit coverage is to be “reasonable”. The definition of “reasonable” will be determined by the U.S. Department of Health and Human Resources (HHS).
· No Cost-Sharing Preventive Benefits. This means there will be no co-payment or deductible for certain preventive services.
· Elimination of Policy Rescission. A South Carolina health insurance policy can no longer be rescinded except in cases of fraud and non-payment of premium.

Healthcare reform will be bringing many challenges to the health insurance industry over the coming years. If you have an individual health insurance plan, be sure to contact a competent South Carolina health insurance agent to determine the impact this new legislation will impact you and your family.