Sunday, October 07, 2018

Ideas to lower the cost of medical insurance.

Interesting ideas from a study by think tanks, policy folks, and others which found:

Monthly cost can be lower.
The number of people with private health insurance could be increased.
The federal deficit could be reduced some.

The study can be found here.

Sharing some thoughts:
● These ideas would be much better than the “solutions” we hear from politicians in Wash DC and even some in CT’s General Assembly - “Uncle Sam” can do it better

● Another analysis brings out to much “Uncle Sam” has resulted in increased costs for employers and the amount individuals have to pay.

● Working to reduce the “controls” and regulation introduced by the Patience Protection & Affordable Care Act (PPACA) of a few years ago is important.

● Studies also find getting people involved in their medical treatment can lower costs quite a bit. So glad to hear this.

Politicians and the media continue to say any change to PPACA would mean a person’s pre-exciting conditions won’t be covered. Of course, that is not true. There is significant bi-parison support in Washington DC for the important no restrictions on pre-existing conditions. 

John C Parker, RHU, LTCP

Monday, October 01, 2018

October 1st means different things to various people.

Want to share some info on one point about Oct 1st. –  It has special meaning to those of us 65 or older. 
It’s the beginning of the Medicare Annual Enrollment Period (AEP).  The AEP is a chance for individuals currently enrolled in a Medicare Advantage Plan or a stand-alone Prescription Drug Plan to change plans with their current company or to enroll in a new plan with a different company. 
Information will be available starting today about the plans which go into effect January 1, 2019, but a request for a change can only be submitted from October 15th through December 7th.   
Medicare Advantage plans are growing in popularity and there will be more options in January for individuals living in New London County to select. This link has an overview. The information is general and reviews how they work. The page does not have any info on the plans from any company.
Many things are going on today in the way treatment is coordinated to improve quality and treatment outcomes for individuals. Some Medicare Advantage companies are working hard on this which will be useful to many.

John C Parker, RHU, LTCP
Niantic CT