Good afternoon, time for a little Water Cooler break. The boss has gone to check out the new grandchild. Congrats to Phil and Sharon for becoming
grandparents.
Well, well, they did it. As most of the nation watched, the Supreme Court upheld the
Patient Protection and Affordable Care Act (PPACA). Now we will see just how complex and expensive this can make our healthcare. But that's all I am going to say about that, I subscribe to the opinion that change provides an opportunity if you look hard enough. It is now the law of the land and I intend to be of service as opportunities present themselves
Speaking of opportunity, if you have the Lifewise Wise Essentials Rx plan, you have an opportunity. Lifewise Health Plans of Washington is discontinuing the Wise Essentials Rx plan altogether. This allows current members to change to other programs. These changes can include altering your deductible either higher or lower on a guaranteed issue basis. So if you are having some health issues and you want to lower your deductible, AND you are on the Lifewise Wise Essentials Rx plan, this is your opportunity. However, a lower deductible will mean higher premiums. It is important to consider all costs.
You also have an opportunity to enhance your drug coverage if appropriate. Lifewise has a new plan that covers both generic as well as brand name prescriptions. Obviously, this is at a higher premium.
These changes are again due to the PPACA.
This is the first of many changes to come. Regence Blue Shield has withdrawn from sale the popular HSA 50/50 plans. These have been the top sellers for price and coverage, because of the tax savings and low "out of pocket maximums." All of the insurance companies now have to begin to look at how they are going to interact with the consumer in the coming years. We may see an increase in the number of companies that offer insurance in Washington; that would create opportunities. So keep that in mind as we watch this unfold. Opportunities are there to be had. Let's find them together.
Keep the ideas coming for future topics; I look forward to helping you with your health insurance needs.
Send your comments and thoughts to john@castellinsurance.com
