Category Archives: Other

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 »

There is a major belief among employers, policy makers, and healthcare policy experts that if the American public had more financial responsibility when it came to healthcare that they would spend less and choose wisely. Known as consumer driven healthcare, these groups hope that by increasing co-pays, co-insurance, and deductibles and that with more “skin in the game” people will shop around for health insurance, doctors, hospitals, medications, and various medical procedures, much the same way they do for cars, restaurants, and other consumer goods and services. The Frightening Implications of Insurance Plans The implications are frightening for a variety of reasons. Given a choice, consumers don’t want consumer driven healthcare. They prefer traditional comprehensive health insurance. Early research suggests that they are switching to consumer driven health insurance plans because they don’t have a choice. The other problem is that for consumer driven healthcare to work as experts hope […] Read More »

In 2006, the New England Journal of Medicine published a study that found regardless of an individual’s socioeconomic, demographics, and health care insurance status that uniformly Americans only received the recommended medical care just a little more than half the time. Slightly better than a coin flip. Perhaps more concerning is what was not said, – our nation does not have the desire or the plan to overhaul and implement the “large-scale, system-wide changes” to our dysfunctional health care system needed to provide quality health care to all. Two-thirds of Americans currently rate the health care system as fair or poor. Fewer employers are offering health care insurance to their workers and retirees due to unstoppable increases in premiums. Instead of improving the system, the federal government and health care insurers major focus is the active promotion of health savings accounts and consumer driven health plans with high deductibles. By […] Read More »