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Health care spending guide
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Controlling your individual health care costs helps maintain low annual premiums for you and your colleagues. Learn how to make the most of your insurance spending by reviewing this series of articles. |
| About Us | |
A not-for-profit ministry of
Church of the Brethren Benefit Trust Inc.
Church of the Brethren Insurance Services provides ancillary coverage for ministers and other employees of congregations, districts, and camps.
Medical and ancillary plans are available to Brethren-affiliated employer groups.
Long-Term Care insurance is available for all members of the Church of the Brethren, their family and friends, and employees of Church of the Brethren-affiliated agencies, organizations, colleges, and retirement communities. |
Contact Us
1505 Dundee Ave., Elgin, IL 60120
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Greetings!
Happy New Year! As 2012 begins, embrace the blank slate you now have to begin all the things you have wanted to do in the past. Resolutions take center stage along with hopeful thoughts, dreams, and aspirations as the exciting possibilities leap into mind! (Speaking of leaping, this is a leap year, too!)
The holidays have ended, and in their aftermath, you might wonder how to make the most of your money, especially given the state of the economy. This month, we are focusing on how to be a wise health care consumer by managing your health care costs. We have included a guide to controlling your health care costs, which includes articles about reducing health care and prescription costs, making good medical care choices, and the best way to use your health savings account. We hope you find these articles helpful and informative.
Highmark also has a program to save you money called Blue365. This program provides discounts for many different types of services including health and wellness, family care, travel, and financial well-being services. We have attached an informational document outlining the services provided, along with the frequently asked questions about this benefit. Be sure to take advantage of these discounts!
In addition, we are including an article on long-term care insurance. If you've made a New Year's resolution to secure your long-term financial future, we have the information you need in order to determine if LTCI is right for you or your loved ones. Just contact us with any questions you have. We are happy to serve you!
A new year also means some new changes for Brethren Insurance Services and Church of the Brethren Benefit Trust. To streamline the organization, two Insurance positions were eliminated: the director of Insurance Services, held by Willie Hisey Pierson, and the manager of sales for health and welfare benefits, held by Diana Seymour. In addition, Randy Yoder's employment with BBT has also ended; he will now serve as an independent agent representing BBT's Long-Term Care Insurance program. We thank them all for their incredible service.
Insurance Services will now join Brethren Pension Plan to form the Employee Benefits Department, led by Director of Employee Benefits Scott Douglas. If you have any questions about this new structure, please contact Scott at 800-746-1505, ext. 385, or sdouglas@cobbt.org.
We wish you peace, love, and success in 2012!
"Be always at war with your vices,
at peace with your neighbors,
and let each new year find you a better man."
-- Benjamin Franklin
Scott, Tammy, and Connie
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A New Year's resolution worth making
and keeping
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Have you thought about purchasing long-term care insurance, but just keep putting it off? Maybe you need more information or are concerned that it might cost too much. Why not make yourself a New Year's resolution to check out long-term care insurance? It's a choice that can give you peace of mind for the upcoming year and many years to come.
After all, consider the other insurance products you invest in, like home insurance or car insurance, and what your risks are after age 65. The 2011 American Association for Long-Term Care Insurance Sourcebook reports that men have a 2.2 percent chance of having a major house fire and a 15.5 percent chance of having a severe car accident, but a 44 percent chance that they will need LTCI. Women over 65 have a 2.6 percent chance that they'll have a major house fire and an 18 percent chance they'll get in a serious car accident, but there's a 72 percent chance that they'll need LTCI.
If this information has persuaded you to make a resolution about LTCI, contact Brethren Insurance Services today. BBT's Insurance staff members can provide answers to your questions, offer additional information, and create a free proposal that will give you an idea of cost. Please call 800-746-1505 or send an email to insurance@cobbt.org.
This year, keep your New Year's resolution. You'll be glad you did!
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Blue365 offers savings on wellness services
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From fitness to nutrition to travel, your Brethren Medical Plan membership entitles you to discounts on many goods and services through Blue365. Learn more by clicking here.
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New rules for using health spending accounts for over-the-counter drugs
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Per a provision of the health care reform legislation, as of Jan. 1, 2011, you can no longer use health spending accounts (HSAs, FSAs, HRAs) for over-the-counter drugs and medicines unless you have a prescription. (You do not need a prescription for insulin or diabetic supplies.)
Health Reimbursement Accounts or Flexible Spending Accounts
In order to seek reimbursement from an HRA or FSA for OTC drugs, you must submit your doctor's prescription and your store receipt.
Health Savings Accounts
If you use your HSA to purchase OTC drugs, you should keep a copy of your prescription and store receipt, in case of an IRS audit.
OTC Drugs That Require a Prescription
The following is a list of the drugs and medicines that will require a prescription if purchased after Jan. 1, 2011.
- Acid controllers
 - Allergy and sinus
- Antibiotic products
- Anti-diarrheal
- Anti-gas
- Anti-itch and insect bite
- Anti-parasitic treatments
- Baby rash creams
- Cold sore remedies
- Cough, cold and flu
- Digestive aids
- Feminine anti-fungal/anti-itch
- Hemorrhoid treatments
- Laxatives
- Motion sickness
- Pain relief
- Respiratory treatments
- Sleep aids and sedatives
- Stomach remedies
OTC Items That Do Not Require a Prescription
The following items do not need a prescription to receive reimbursement from a health spending account.
- Adhesive bandages
- Braces and supports
- Catheters
- Contact lens solution and supplies
- Contraceptives
- Denture adhesives
- Diagnostic tests and monitors
- Elastic bandages
- First aid supplies
- Insulin and diabetic supplies
- Ostomy products
- Reading glasses
- Wheelchairs, walkers, and canes
The government may still release further guidelines regarding which OTC drugs need a prescription. Check the IRS website for updates:
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70 percent of people aged 65 and older will eventually need some form of assisted care and are usually not financially prepared to handle the costs related to these services.
