Laughlin Insurance Newsletter
In This Issue
2018 Individual Health Insurance Open Enrollment
Health Care Reform and Market Update
Medicare Review
Compliance
Health Savings Account Health Plans (HSA's)
Quick Links
Sign Up For Our Agency Newsletter

Join Our Mailing List  
Questions?
We are here to help you with your health insurance and other programs

  
Need help with Claims? 
(503) 282-0827
(877) 779-0788
    
  
Is there a fee for not having health insurance?
  
(click here to check)
  



 
 

Oregon | Washington 

Open Enrollment Edition October 2017

 

As the new year approaches, many consumers across the US will soon be reviewing their  health and dental insurance options, and rates for 2018.  Most individuals, small employers, and Medicare consumers have received their  health insurance renewal notices for the new year.  Review your options carefully and work closely with your agent.  We can help you understand your options and get enrolled in the plans and rates that work best for you.    

We are looking forward to helping you with the 2018 individual Open Enrollment, Medicare Annual Election Period, and annual open enrollment for some employer groups.  Your Licensed and Certified Marketplace Brokers are Paris Laughlin, Stuart Ouellette, and Victoria Monteblanco
    
        
2018 Individual Health Insurance Open Enrollment 
 
The 2018 individual open enrollment is almost here.  Are you ready?  Open Enrollment runs from November 1st through December 15th.  During Open Enrollment, each individual health insurance consumer must review their options and enroll in a new plan for a start date of January 1, 2018.  There are new options, network restrictions, and new rates.  We have the following process to help you complete final review and enrollment;
  • Collect information
  • Check eligibility for enrollment or financial help
  • Review various health & dental plans
  • Complete enrollment in the plans that work best for you
  • Provide a follow up confirmation and status
  • Provide ongoing services 
There are several ways to apply for individual health insurance, change options within your current carrier, or just renew as offered to the most comparable available plan and rates;
  • Update your marketplace application at www.healthcare.gov or at www.wahealthplanfinder.org, and purchase a new plan on the exchange
  • Complete a paper application to apply direct 
  • Comple an online application here
  • Complete a policy change form
  • Pay Premiums for replacement plan
Open Enrollment is only for six weeks, so call in when you can to schedule a 30 to 60 minute phone or office meeting, during the open enrollment period, to review your options and complete your enrollment.

Related Stories:

 
Health Care Reform and Market Update
 
Health Reform is a broad term that describes the ongoing effort to create a US health Care system that provides access to health insurance, and affordability for all.  The Patient Protection and Affordable Care Act of 2010, or Obamacare, seems to have addressed many of the problems with health care, but concerns continue for many who are paying very high monthly premiums for low level bronze plans. 

Most of the ACA provisions have been introduced, but some revenue positive provisions have been set off to the future, for various reasons.  The ACA was supposed to pay for itself, but American's have been found to be much more unhealthy than expected and the delayed ACA revenue positive provisions have also created a short fall of funds.

Some small employers are still having issues with high rates.  Pre-ACA plans, or "keep your old Plan" options, are now being discontinued, and the replacement ACA plans can cause larger than expected rate increases.  Large employers and Medicare policyholders seem to be doing better for coverage, options, rates, less limitations, and broader networks.  
 
We recommend that each individual, employer, and  Medicare beneficiary, select the plans with the rates that best meet their needs and budget, from what is available, and wait to see if congress, state government, insurance regulators, and health carriers can find a combination of actions that may bring rates down for existing plans, while continuing  to provide the financial help that many others are receiving now in the form of tax credits, cost share reduction benefits, Medicaid, or the Small Business Health Care Tax Credit.

Related Stories;
Medicare Review

Whether you're new to Medicare, getting ready to turn 65, or preparing to retire, you'll need to make several important decisions about your health coverage. If you wait to enroll, you may have to pay a penalty, and you may have a gap in coverage. Use these steps to gather information so you can make informed decisions about your Medicare:
  • Learn about the different parts of Medicare
  • Find out when you can get Medicare
  • Decide if you want Part A & Part B
  • Choose your coverage
  • Sign up for Medicare (unless you'll get it automatically)
  • Learn about 5 tasks for your first year with Medicare
  • Read more about these topics at Medicare.gov here
Other Medicare Resources;
We have licensed and certified agents available to help you review your options, answer your questions.  We can also help you with your enrollment, renewals, and provide customer support throughout the year.  

Compliance    

  

Compliance is a growing concern among business owners, benefit managers, insurance brokers, and consumers.  There are numerous types of compliance for employers and individuals.  For business owners, specific compliance is based on the number of employees in your company, or if you are an individual, you may be familiar with the individual health insurance mandate.  If you are Medicare eligible, you may be aware of the requirement to maintain creditable Part D Prescription Drug coverage.  We are now providing compliance advisement's.  We have a web site with important compliance information and resources that we are updating regularly here.  

 

Health Savings Account Health Plans (HSA's)

There is still increasing enrollment in the Health Savings Account Health Plans, among individual health insurance consumers.  There has been low interest in HSA's for small or large employers, who have preferred to continue with mostly copay PPO plans.  HSA health plans usually provide no cost in-network preventive care coverage, with all other care subject to the plan deductible, and out of pocket maximums.  Bronze HSA plans usually have lower premiums, and a lower out of pocket maximum than the bronze copay PPO plans.

HSA health plans can be a good fit for those with low health needs, and higher than average income.  The HSA Silver can also be a good choice if someone knows that they will meet their out of pocket maximum for the coming year. 

The HSA Health plan allows consumers on HSA health plans, to set up a specific Health Savings Account at their bank, or a bank we recommend called H S A Bank.  With an HSA savings accounts, consumers can deposit up to $3,400 for 2017 ($3,450 for 2018), into this account, and deduct the deposits from their tax return.  The money must be used to pay for eligible expenses, or there is a tax penalty.  Those over age 55 with an HSA health plan can contribute an additional catch-up contribution of $1,000.  The deposit are tax deductible as long as the money is spent on a wide range of eligible expenses.  A partial list of approved IRS expenses is here.
  • Individual consumers;  Sign up for a Health Savings Account at HSA Bank here
     
  • Employers; Sign up for a group health savings account plan at HSA Bank here

We offer assistance with setup and customer service for your HSA savings accounts.  Contact us if you need assistance.