I always try to keep things positive but when I talk to other people in the Health Insurance industry, they typically look 
at all the negatives about Health Care Reform, which mostly is commission cuts, extra hoops to jump through, and my favorite, the end of the Health Insurance agent!! I usually don’t join in with negative thoughts but instead focus on the positives with Health Care Reform and how it will positively affect millions of people. So I went over all the positive elements to Health Care Reform and narrowed it down to my 5 favorite things about Health Care Reform. Here they are:
1. Insurance companies cannot deny coverage for someone with pre-existing conditions. This one is huge. In 10 years we will look back and wonder how did insurance companies get away with denying coverage for those that need it most.
2. Insurance companies cannot cancel someones coverage because of them getting sick. I know you may read that and think, ‘seriously?’. Yes, before health care reform there were times where insurance companies would cancel coverage after someone would get sick knowing they would have to continue to pay large medical bills.
3. All Health Insurance policies must include preventative care at no charge. I really like this one. When everyone has health insurance and this is included in the coverage, more people will go get check ups and find certain health conditions early.
4. No lifetime or annual limit of needed care. This one is often overlooked, but can you imagine getting a serious illness and reach your limit for the year or lifetime and have to pay out of pocket for everything? This is a huge burden lifted for those in this situation.
5. Small Businesses will get tax credits for providing Group Health Insurance coverage to their employees. This is great news for small businesses. There has been a myth that Health Reform will actually hurt small businesses but in fact they are not required to provide health insurance, but if they do, they get a tax credit. How does that hurt anything?
These 5 things are only a few of the positive impact that Health Care Reform (Obamacare) will have on Health Insurance but there are many more.
If you have any questions or want to discuss your own situation with your health insurance or Group Health Insurance for your business, please don’t hesitate to call me. I can be reached at my office at 248-581-0331 or email at bryan@cransoninsurance.com
Cranson Health is operated by Cranson Insurance Agency. If you are interested in a Michigan Individual Health Insurance quote or a Michigan Group Health Insurance quote, please click here or call Bryan Cranson at (248) 581-0331.
Many of you have heard about Health Savings Accounts but aren’t completely sure how they work. If you purchase your own health insurance and haven’t looked at this option, it might be time for a look. A Health Savings Account Health Insurance plan or HSA Plan puts the insured in control of the Health Insurance plan. First you have much lower cost premiums, then you get to put pre-tax dollars in to a Health Savings Account and spend the money tax free on qualified medical expenses. Eventually if you don’t use the money in the Health Savings Account you can use the money in retirement (must follow the IRS guidelines to avoid penalties). You can even purchase items such as Aspirin or Vitamins.
Now when I talk about HSA’s with prospective clients one of their first concerns is ‘What happens at the end of the year if I don’t spend all of the money?’. The answer is: it rolls over to the next year just like your checking or savings account at a bank. People are getting confused about Flexible Spending accounts where you DO need to spend the money by the end of the year or the money is gone. Health Savings Accounts also have much more flexibility when it comes to using the money for medical bills.
Since there is a high deductible attached to these plans you must be disciplined enough to put money aside each month in to your HSA account. Nobody will require you to make those deposits but it is essential when you have an HSA Health Insurance plan. Without having money in the Health Savings Account you will be left with large medical bills if something serious happens. Usually what I recommend when I give a Health Insurance Quote that is an HSA Policy that the money they save each month in premium to put some or all of that money in to a Health Savings account until that money in the account accumulates to equal the deductible. Then if something does happen you won’t have much, if any, out of pocket since you can access the Health Savings Account funds.
Call us today if you want to get a Health Insurance Quote from one of our top HSA Health Insurance providers.
Thanks for reading!
Bryan Cranson owns an independent Insurance Agency in Northville, Michigan specializing in Business Insurance and Health Insurance. They are licensed in the following states: Arizona, California, Indiana, Illinois, Kansas, Michigan, Missouri, New Mexico, New Jersey, Ohio, and Oklahoma.
