Insurance

What’s going on out there, huh?

Things are changing rapidly, and lots more to come, so if you have questions call us today.

On January 1, 2010 Mental Health Parity and Equity Laws became effective. If any of you are wondering why you have 20% to 30% cost increases every year, this is one answer.

When mandates require coverage, those coverages have a cost. Whether it’s Mental Health, Viagra or Gender Re-assignment, it has a cost.

We say there should be choice with Health Insurance. If you don’t want Maternity (new babies), or Mental Health, or even Prescription coverage you should be able to buy plans without it. All of these are expensive riders on plans where it is an option.

If the government, State or Federal, mandates new coverage for everyone, then we all pay more.

The Medicare Advantage crowd lost 500 million in federal funding, so the plans all had to change by January 1, 2010.

[ UPDATE ]

The ARRA COBRA law that was scheduled to sunset the aid to former employees, was extended to June 1, 2010, so they will pay partial rates for continuing health insurance until May 31, or until their COBRA terminates.

There will be new mandates with the new reform, at least in the current version, and it will take effect on January 1, 2013.

Reform is not someday far off down the road though, we are seeing changes now, like the Medicare Advantage changes this year.