Author: Ed MacConnell

Written By: ERIC C. POSTED: DECEMBER 16, 2018 Every year, seniors are scammed out of tens of billions of dollars, money they’ve spent their entire lives saving only to have it stolen. The elderly have always been a prime target for Internet scams because of a perceived vulnerability, and now because Internet use among seniors is on the rise. A Pew Research Center survey showed that 67% of seniors are now regular Internet users. Internet security is something everyone should prioritize, regardless of age, so it’s important to be aware of current threats and how to deal with them. With so many people online, the magnitude of scams is increasing. Protect Your Computer Hackers are always on… Read More

    Health coverage is a key benefit employers offer workers in order to attract and retain the best and the brightest. Yet employers face numerous complex regulatory rules and administrative burdens in providing health coverage to their employees. Most big employers have entire departments devoted to understanding the rules and administering health coverage. But, many smaller business owners don’t have that luxury. They alone must take on the task of navigating how to provide health coverage to their employees.  This year, the Trump Administration took a big step forward in doing just that by issuing new rules expanding Health Reimbursement Arrangements (HRAs). HRAs are employer-funded accounts that workers can… Read More

Proposed Law Can Help Lower Your Medical Costs By Allowing You to Shop Around! On July 29, 2019, the Centers for Medicare & Medicaid Services (CMS) proposed policies that follow directives in President Trump’s Executive Order, entitled “Improving Price and Quality Transparency in American Healthcare to Put Patients First,” that lay the foundation for a patient-driven healthcare system by making prices for items and services provided by all hospitals in the United States more transparent for patients so that they can be more informed about what they might pay for hospital items and services. Included in this proposal is also a redefinition of what “Preventative Care” means. Why is this… Read More

New Rules for 2020 to Pay Attention To Many Employers offer things such as HRAs, FSAs or HSAs to help Employees offset the out-of-pocket costs and gaps in their Health Benefits. I’ll give a quick summary of each: -A Health Reimbursement Arrangement (HRA) is an employer-funded account that helps employees pay for qualified medical expenses not covered by their health plans. HRAs are compatible with all types of health insurance plans and since they are solely funded by the employer, they also own it. -A health savings account (HSA) is a tax-advantaged medical savings account available to people  enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not… Read More

Important Update! 2020 ACA Plans Offer Consumers More Choice, Modest Requested Increases Harrisburg, PA – Insurance Commissioner Jessica Altman today released the 2020 requested rate filings for health insurance plans under the Affordable Care Act, highlighting that consumers in all Pennsylvania counties will now have more options, markets will have greater competition, and average rate increase requests are modest in comparison to some previous years. “As filed, all 67 counties will maintain the insurers currently offering coverage in 2019 for the 2020 coverage year,” Altman said. “Pennsylvania’s market has seen great increases in competition and choices for consumers in recent years, and the trend will continue into 2020. Based on their… Read More

On June 24, 2019, President Trump issued an Executive Order (“EO”) directing the relevant federal agencies to issue regulations or other guidance to make available more meaningful information related to the price and quality of healthcare. This summary highlights aspects of the EO that may be relevant to employer-sponsored group health plans and their covered participants.   • By October 22, 2019, the Treasury shall issue guidance to expand the ability of patients to select a qualified high deductible health plan (“QHDHP”) that can be used alongside a health savings account (“HSA”), and that cover low-cost preventive care, before the deductible, for medical care that helps maintain health status for… Read More

Insurance isn’t the most thrilling to think about, but it’s necessary for protecting yourself, your family, and your wealth. Accidents, illness, and disasters happen all the time. At worst, events like these can plunge you into deep financial ruin if you don’t have insurance to fall back on. Some insurance policies are unavoidable (think: car insurance in most US states), while others are simply a smart financial decision (think: life insurance). Insurance is largely personal, though, and the type of policy or amount of coverage that’s right for you and your financial situation usually won’t match your friend’s or relative’s. Plus, as your life changes (say, you get a new job or have… Read More

From IBC: The Care Cost Estimator tool is now available for members. This tool is designed to help them better understand their estimated out‑of‑pocket health care costs for a wide range of common inpatient, outpatient, laboratory, and diagnostic procedures, as well as office visits. We are excited to offer members this new tool, which is designed to help them save money and avoid unplanned expenses. Using the Care Cost Estimator, members can search for up to 1,600 procedures and compare providers by estimated price, based on their specific health plan. The tool displays provider details and quality information, such as reviews, allowing members to make more informed decisions about how to… Read More