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Originally posted 2009-10-20 19:11:38. Republished by Blog Post Promoter

Frequently Asked Questions

A short-term extension of COBRA health insurance premium subsidies for involuntarily terminated employees has been approved.

Now, employees terminated from April 1 through May 31, 2010, will receive the 15-month, 65% federal premium subsidy. Prior to this extension, March 31, 2010 was the cut-off date.

President Obama is urging lawmakers to extend the COBRA premium subsidy through the end of the year. The Senate is currently working on this new extension.

The Focus Group will keep you posted of any upcoming changes to the COBRA subsidy as they become present.

UPDATE:
The latest extension applies to anyone who involuntarily lost a job between April 1 and May 31 of this year. The subsidy lasts for 15 months from when coverage begins. (COBRA coverage typically lasts 18 months; in some cases it can be extended to 36 months.) To qualify for the subsidy, you must apply for coverage within 60 days of losing benefits, not be eligible for Medicare and not be eligible for any other group health plan, such as one offered by a new job or by a spouse’s employer.

You can get additional information at http://www.dol.gov/COBRA or by calling a Department of Labor benefits advisor toll-free at (866) 444-3272.

NOTE: There is a possibility that the COBRA extension could be opened up to those who lose their jobs after June.  We’ll keep you posted.

UPDATE 5/27/2010

It looks as if House Democrat leaders have released a scaled-down version of the H.R. 4213 bill.  Under the revised bill health benefits and COBRA subsidies will now be extended through November 30, 2010 instead of December 31, 2010.

The reasons for the scale down is an effort by Democratic leaders to get the measure approved before Congress breaks for the Memorial Day weekend.

The estimates from the Congressional Budget Office puts the price tag at around $144 billion.  This includes cuts on unemployment benefits and COBRA subsidies.  It was nearly $200 billion.

So, with opposition coming from fiscal conservatives, both Democrat and Republican, the measure will be difficult to pass by Memorial Day.

If you may lose your COBRA benefits on May 31, remember, in certain states insurance companies can impose a waiting period for pre-existing conditions if there is a lapse in coverage greater than one day.  Be sure to check with your local broker to confirm.

UPDATE 6/2/2010

It seems that the Dems were concerned about getting enough votes to get the Jobs bill passed.  In order to garner the votes, they had to drop the COBRA Subsidy or 65% discount over concerns about short term deficits and political considerations.

The same Democrats who claimed to take the moral high ground when it came to Health Care Reform are the same ones now leaving thousands of Americans without health insurance.  Was it not these Democrats who claimed the reason for reform was to insure all Americans had affordable Health Care Insurance?

What does this mean for me?

It means that if you lose your job starting now, you will no longer qualify for the 65% discount COBRA subsidy.  You would be required to pay the full price of your COBRA Health Insurance.

Is there a chance that the 65% discount will go longer than 15 months?

No.  That is a common misunderstanding.  The extension was only for those who recently lost their jobs.  Not those who were coming to the end of their 15 months.

What Next?

The most prudent thing to do is to find a new family health insurance plan immediately.  Depending on your state, you do not want a lapse in coverage.  Especially if you have pre-exisiting conditions.  Insurance carriers can exclude pre-exisiting conditions if there is a lapse in coverage.

If you have questions about your options, please don’t hesitate to comment below or contact The Focus Group at 888.320.5388.

RELATED INFO

• FAQs On The COBRA Premium Reduction Extension Provisions
• COBRA Fact Sheet
• COBRA Subsidy Extension Beyond 15 months
• Alternative to COBRA Insurance
• When should I take COBRA

Originally posted 2010-05-04 07:04:41. Republished by Blog Post Promoter

You still have time to contribute up to the $3,000 for individuals or $5,950 for family contribution maximums for 2009.

If you are 55 or older, you can make “catch-up” contributions, meaning you can deposit an additional $1,000 each year.  If your spouse is also 55 or older, he or she may establish a separate HSA and make a catch-up contribution.

Originally posted 2010-03-25 06:06:47. Republished by Blog Post Promoter

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Originally posted 2009-08-27 05:49:43. Republished by Blog Post Promoter

Originally posted 2009-07-31 19:05:52. Republished by Blog Post Promoter

Originally posted 2009-07-31 18:31:08. Republished by Blog Post Promoter

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Originally posted 2009-08-27 11:43:26. Republished by Blog Post Promoter

800-852-7795   800-803-7174

Macomb County Deptartment of Senior Services

586-469-6313

Recipients of Medicare from Social Security can enroll  Medicare Part D (prescription benefit) which began January 1, 2006.    Low income persons below 150% of poverty (currently $1197 per month income for one, $1604 for two) can receive “extra help” from Social Security (800-772-1213), at reduced or no premium.  For advice about which provider to choose call the Area Agency on Aging’s Medicare/Medicaid Assistance  Program (800-852-7795 or 800-803-7174) or the Dept of Senior Services (586-469-6313) or Social Security (1-800-MEDICARE 800-633-4227), or see http://www.medicare.gov

Originally posted 2009-07-28 07:00:59. Republished by Blog Post Promoter

Doctors are reporting a drop off in the number of patients that are seeking treatment, opting to go with charity or tax susidized care.  This trend means more diabetics are winding up in the emergency room.

As the numbers of diabetics continues to increase (1.6 million in 2007) these trips to the emergency room will surely put a tax on our healthcare system.

This trend is not limited to diabetics, the article goes on to state that more and more people with health problems are seeking alternatives or going without healthcare altogether due to the recession.  That may work for some, but for diabetics, missing out on crutial care can be life threating.

The Freep states “Patients’ frugality comes at a tremendous cost to the already-strained health care system. The typical monthly bill to treat diabetes runs $350 to $900 for those without insurance, a price tag that has risen as newer, more expensive medicines have hit the market.”

Per the American Diabetes Association, Diabetes is a disease in which the body does not produce or properly use insulin. Insulin is a hormone that is needed to convert sugar, starches and other food into energy needed for daily life. The cause of diabetes continues to be a mystery, although both genetics and environmental factors such as obesity and lack of exercise appear to play roles.

There are 23.6 million children and adults in the United States, or 7.8% of the population, who have diabetes. While an estimated 17.9 million have been diagnosed with diabetes, unfortunately, 5.7 million people (or nearly one quarter) are unaware that they have the disease.

Diabetes often goes undiagnosed because many of its symptoms seem so harmless. Recent studies indicate that the early detection of diabetes symptoms and treatment can decrease the chance of developing the complications of diabetes.

Some diabetes symptoms include:

* Frequent urination
* Excessive thirst
* Extreme hunger
* Unusual weight loss
* Increased fatigue
* Irritability
* Blurry vision

You may think that having diabetes may mean that if you are currenly uninsured that you won’t be able to find health insurance.  This is not the case.  There are health insurance providers that offer competitive, affordable options for those with pre-existing conditions. You may find that your premium is at or below the $350 – $900 dollar monthly cost of treating diabetes.

Originally posted 2009-04-19 13:20:05. Republished by Blog Post Promoter

• HSA holders can choose to save up to $3,050 for an individual and $6,150 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,050 for an individual and $7,150 for a family) – and these contributions are 100% tax deductible from gross income.
• Minimum annual deductibles are $1,200 for self-only coverage or $2,400 for family coverage.
• Annual out-of-pocket expenses (deductibles, co-payments and other amounts, but not premiums) cannot exceed $5,950 for self-only coverage and $11,900 for family coverage.

Single

Minimum Deductible:     $1200

Maximum Out-Of-Pocket:     $5950

Contribution Limit:     $3050

55+ Contribution Limit:     $1,000

Family

Minimum Deductible:     $2400

Maximum Out-of-Pocket:     $11,900

Contribution Limit:     $6150

55+ Contribution:     $1000

Originally posted 2010-03-09 09:19:49. Republished by Blog Post Promoter