Author Archives: Brian

The National Committee for Quality Assurance, NCQA, is a non-profit organization that recognizes health plans and doctors who perform high quality healthcare consistently. In conjunction with various large employers, NCQA is trying to improve the quality of care delivered. Healthcare quality varies so greatly that annually tens of thousands deaths could have been avoided if all health insurance plans provided the care done by the top 10 percent. Why You Should Care NCQA also lists doctors who give high quality care. These are doctors who consistently do the right things based on the latest research and recommendations in areas of diabetes, heart disease, stroke, and back pain. Patients who patronize these doctors will be healthier and more likely to avoid premature death. Although healthcare has improved over the past decade that NCQA started its reporting, a large number of health insurance plans have not submitted any performance information. In a […] Read More »

A HSA, which stands for Health Savings Account, is a relatively new tool for individuals and families to pay for their ever-mounting health care expenses. HSA was signed into law by President Bush and became available in 2004.  HSAs, like many other accounts such as 401(k)s and dependent care expenses use pre-tax dollars to fund future expenses, which are retirement and day care costs respectively.  HSAs are used to cover high deductible health insurance costs and qualified healthcare expenses.  How high the deductible must be and what medical costs are considered qualified is defined by the IRS. HSA Health Insurance HSA insurance plans save both the employee and employer money as they must be linked to a high deductible insurance plan.  High deductible insurance plans have smaller premiums.  While many healthcare policy experts feel that HSA insurance will decrease medical costs as patients are more responsible for paying for their health, […] Read More »

The Kaiser Family Foundation reported that in 2007, the total cost for health insurance premiums for an individual cost about $4,400 and for a family of four exceeded $12,000.  Clearly finding affordable individual health insurance and affordable family health insurance is increasingly less likely as premiums continue to rise faster than wages and inflation. The report also found that fewer small businesses are offering health insurance.  Only 59% of employers with between 3 to 199 workers offer the benefit.  Of small businesses with 3 to 9 employees, only 45% offer it.  Companies are also restricting who is covered.  No longer are they willing to extend coverage to dependents whether spouses or children.  Many businesses no longer offer post-retirement health insurance to their retirees and seniors.  Companies, like individuals, are struggling to find affordable health insurance and have addressed the costs by cutting back on who is covered and how comprehensive […] Read More »

When is it a good idea to get a second opinion? Second opinions should strongly be considered when there is a potentially life threatening medical condition, like cancer, when the proposed treatment options are intensive or demanding, like chemotherapy or major surgery, or when there is a chance for a very bad outcome or complication, i.e. brain surgery. By having a second opinion, particularly in these high stakes situations, patients and their families will have the opportunity to have a second set of eyes double check to see if the original diagnosis and treatment plan are reasonable as well as a chance to hear someone else explain the problem which may be more understandable and enlightening. With any other big decision – purchasing a new car or deciding to get married, for example – people instinctively seek out multiple opinions. Others voice their unsolicited opinion. When making a decision which […] Read More »

Consumer driven healthcare, which requires individuals to be more responsible for healthcare costs with higher co-pays, co-insurance, and deductibles, is becoming more common. A Health Savings Account, also known as a HSA, is a relatively new way of saving money to deal with these future healthcare costs. Benefits and Tax Advantages Unlike other previous medical savings accounts, the health savings account has many different benefits and tax advantages. Funds in these accounts can be invested like other financial vehicles into mutual funds and savings accounts. Dollars carry over to the following year if unspent. The account stays with you if you switch jobs. You and the employer can put dollars into the account. The Cons of Health Savings Account Rules There are plenty of specific health savings account rules, as defined by the IRS, that must be adhered to, which could be considered a disadvantage. Dollars can be put into […] Read More »