Healthcare Premiums Rising

The Los Angeles Times (9/28, Helfand) reports, "Healthcare premiums paid by large US employers have more than doubled over the last decade, but the costs to their employees more than tripled, a study released Monday found." And "next year companies can expect healthcare costs to rise nearly 9% on average -- the largest increase in five years -- as they confront an aging workforce, large medical claims and changes brought by healthcare reform." Employees "face higher costs as companies shift an ever-larger share of insurance premiums and healthcare costs to them." The "recently adopted healthcare reform package also is expected to drive up insurance rates and saddle employers with new costs," in particular the new rule that allows "adult children to remain on their parents' health insurance plans through age 26."

Golf Tournament

Congratulations to Shawn Iverson and Scott Millward from our Ogden office, along with Creed and Nick from ASA Insurance for taking First Place in the annual Progressive golf tournament held at Bountiful Ridge on Wednesday, September 15th! Way to go guys!

Congrats

Congratulations to Dave Batchelor who ran the bases at our night at the Ogden Raptors. His time was the fastest this season and he won a new watch!

Health Care Reform Provisions

The first section of the health care refrom takes place on September 23, 2010. Here are some of the changes that will be in effect according to Humana to new policies . This changes will take place on policies already in place on their renewal.


-Adult children will be allowed to remain on their parent's plan until they reach age 26.
-Plans will have an unlimited lifetime maximum
-No annual dollar limits on covered essential health benefits.
-Plans will cover services for emergency medical care administered in a hospital's emergency facility at the in-network benefit level.
-Plans will will cover in-network preventive care services at 100 percent. Members will not pay a copayment , coinsurance, or deductible.
-Pre-existing condition limitaions will not apply to a covered person under age 19.
-Covered person will have the right to an internal appeal and external claims review.

Employers Shifting More Healthcare Costs to Workers

The LA times reports that “the average annual cost of a family health plan is reaching $13,770. Workers picked up 30% of that bill. The average plan for an individual cost $5,049." The Times adds that "the squeeze...could further complicate the Obama administration's efforts to rally support for the law, which is expected to do relatively little in the short term to contain rising medical bills."

Get A Life!

September is "Life Awareness" month and here at The Insurance Center we sell a variety of life insurance products to meet your needs from whole life to simplified issue policies. We even have life insurance policies that do not require your blood to be drawn! Life insurance is an important financial investment that can help you to take care of your loved ones after you are gone and help to secure a sound financial future for them. Give us a call today for a free quote!