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Re: Medical Insurance - Another Bigger Problem!!
Old 07-08-2004, 07:07 PM   #41
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Re: Medical Insurance - Another Bigger Problem!!

Anyone seen the United Health Care Personal Health Insurance plans AARP started offering a couple of months ago? Any thoughts?


http://www.aarphealthcare.com/personalhealth/
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-09-2004, 05:53 AM   #42
 
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Re: Medical Insurance - Another Bigger Problem!!

Re. AARP health insurance...........We have it. We like it.

John Galt
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-09-2004, 06:03 AM   #43
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Re: Medical Insurance - Another Bigger Problem!!

Not availible in LA. Saw a Nightline report where the person who pays cash - pays 2.5 times the HMO or insurance rate in many cases. Now our resident serial killer got a trial postponment while he got free medical care at taxpapers expense. Hmmmm?
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-09-2004, 06:12 AM   #44
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Re: Medical Insurance - Another Bigger Problem!!

When paying with cash, you need to ask for the UCR price. "Usual Customary and Resonable". That's the price the insurance co's negotiate. It might take a little effort, but hey, it's worth it.

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Re: Medical Insurance - Another Bigger Problem!!
Old 07-09-2004, 11:44 AM   #45
 
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Re: Medical Insurance - Another Bigger Problem!!

Quote:
? What if your only income is stocks and bonds - can you still get an HSA?
This website has a good explanation of HSA. Click on the 'Feautured Product' on the left hand side. It also provides quotes for HSA-qualified policies side by side with non-HSA policies.

http://www.ehealthinsurance.com/ehi/index.html

Based on my research you don't have to be employed to contribute to a HSA account. My problem is still trying to work out the total saving/cost of a HSA policy (tax deducted on distributions) vs. a lower upfront cost and better terms of a non HSA policy. Being ER means a much lower tax income rate so does this count for as much as someone who is either self employed or is employed by a company with partial or no health benefits.

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Re: Medical Insurance - Another Bigger Problem!!
Old 07-09-2004, 03:15 PM   #46
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Re: Medical Insurance - Another Bigger Problem!!

Quote:
My father's badly broken leg landed him in the hospital for 6 days. He only has medicare. Not near enough to cover the stay. He is sweating it out big time. He procrastinated too long in buying a supplemental policy. Its still on his desk unsigned. At 70 yrs old he may never fully recover, both physically and financially.
It is my understanding that if the facility accepts Medicare assignment that they can only require the patient to cover the $876 Medicare deductible ... http://www.cms.hhs.gov/manuals/102_p...bp102index.asp

I still get HC ins as a retiree benefit so they pick up the deductible. My dad was in and out of SNF's and acute care his last 5 months... between AARP / Air Force / and Medicare, he only had to pay one deductible one time
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-10-2004, 03:56 AM   #47
 
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Re: Medical Insurance - Another Bigger Problem!!

Personally, I wanted to buy "disaster" health
insurance with a $10,000 deductible (or more).
This was my plan from the start of ER. Thanks to a whole bunch of unforseen circumstances, pretty soon
I couldn't find anyone to cover me, or if I did, I couldn't
pay the premiums. Thought about "going bare" but
didn't have the guts for that. Maybe if I had been
closer to Medicare, I might have rolled the dice.

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Re: Medical Insurance - Another Bigger Problem!!
Old 07-10-2004, 04:50 PM   #48
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Re: Medical Insurance - Another Bigger Problem!!

the same questions remain when considering LTC insurance. Think I'll wait until I'm closer to 60 and then pick it up during open enrollment
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-11-2004, 02:55 AM   #49
 
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Re: Medical Insurance - Another Bigger Problem!!

Re. LTC insurance and related issues, I have spent some time researching this. My parents have no LTC insurance and there is no chance we could explore
the problems and prospects together. No, I must sit by and wait for a crisis. Even then I suspect I will have
trouble getting myself involved. My folks trust me.
It's that old "loss of control" bugbear. BTW, once things start to go downhill fast, my dopey estranged brother
will reappear on the scene. So, I'll have to deal with
my parenst problems and his involvement at the same time. Not a very appealing prospect. No one else around to do it, unfortunately.

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Re: Medical Insurance - Another Bigger Problem!!
Old 07-11-2004, 12:31 PM   #50
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Re: Medical Insurance - Another Bigger Problem!!

John

LTC without insurance is another slice of govt. that's a world unto it's own - it's bad when one of a couple has to go to a nursing home, and even worst when the last surving parent goes. My mother refuses to grasp the three year look back rule(5 for trusts) and the fact that LA has estate recovery for wills/estates. The old loss of control - Depression ERA mentality again. She's under the illusion there will be something left for my sister in her will. I've explained to her that the govt. is first in line for anything over 2k - no matter what her will says. Sticky area to say the least.
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-11-2004, 03:14 PM   #51
 
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Re: Medical Insurance - Another Bigger Problem!!

Yeah unclemick; "sticky" is an understatement.
I may not have all of the answers, but there are so many obvious things my folks could do. To sit by and
wait is difficult. But, I don't see any good alternative.

John Galt
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-30-2004, 06:12 AM   #52
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Re: Medical Insurance - Another Bigger Problem!!

Good news,

Hospitals reducing rates for uninsured
http://www.geocities.com/ba264/Hospi...r_Unisured.htm

Billy
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-30-2004, 11:14 AM   #53
 
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Re: Medical Insurance - Another Bigger Problem!!

I am a frequent "lurker" and have gained valuable information from you guys. I am 54 and my BH is 57 -- looking to retire in next few years (didn't make the ER category). Any suggestions on good LTC carrier? THe AARP health ins link had better rates than I have found, so I am hoping for good feedback on LTC as well.

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Re: Medical Insurance - Another Bigger Problem!!
Old 07-30-2004, 01:29 PM   #54
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Re: Medical Insurance - Another Bigger Problem!!

Check rates for your state from State Farm. Their LTC offering beat the Met Life quote via AARP.
Still not sure LTC is cure-all the insurance industy is touting. But hey, they sell Whole Life all the time as an "investment" and get away with it.
Really important you read all the ways you can be "sold" features you do not need. My limited research seems to suggest that the providers will have no trouble raising your rates to be whatever they want--keep in mind the "no increase" in rate only limits them from singling out your policy--no limitation from raising everyone's rate without limit.
Hence supposed "benefit" of locking a rate while young becomes pretty meaningless in 15 yrs if you can not meet the premium they want then.
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-30-2004, 02:34 PM   #55
 
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Re: Medical Insurance - Another Bigger Problem!!

I know little or nothing about LTC insurance. We can't
afford it. My folks won't discuss it. I will say that we
have been very happy with our AARP medical insurance.
Before we signed on with AARP, I had a negative
instinct about the organization. Thought they were
run by a bunch of wimpy liberals. Anyway, all of my
involvement with AARP has been quite positive.
The overall politics may be at odds but I will admit
they seem to get the job done.

John Galt
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-30-2004, 03:13 PM   #56
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Re: Medical Insurance - Another Bigger Problem!!

I checked into several LTC policies and finally went to an independent agent. He was able to do better than I could shopping on my own. Furthermore, there are some wrinkles the average Joe may not be aware of. Example: My wife provided a best guess of her weight on the application (she's small and was thinking they're on the lookout for obesity, so didn't give it much thought). The agent called and told her it would be better if she were a couple of pounds heavier and suggested she weigh herself to be sure. Turns out she did weigh about 5 pounds more than she thought, so he changed the application. There were other grayer areas he walked us through. We came out of it with better coverage for less money than we would have without him. Choice of an agent is crucial, of course. This agent is an acquaintance of my family and is known to be scrupulously honest. (My Dad says he uses him because the agent is a strong Baptist and my Dad thinks he's probably afraid of going to hell. )

Quote:
My limited research seems to suggest that the providers will have no trouble raising your rates to be whatever they want--keep in mind the "no increase" in rate only limits them from singling out your policy--no limitation from raising everyone's rate without limit. Hence supposed "benefit" of locking a rate while young becomes pretty meaningless in 15 yrs if you can not meet the premium they want then.
What nwsteve says is right on the mark. We paid off our policies in one lump sum which solves the problem of increases.
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-30-2004, 04:10 PM   #57
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Re: Medical Insurance - Another Bigger Problem!!

I have not really looked at lumpsum--do all providers offer?
Do you mind sharing which provider you used and how long of period you ended up with before payment started. Any particular "watch-outs" beyond getting AAA rating on agency if go Lumpsum
Thanks
NWsteve
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-30-2004, 04:21 PM   #58
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Re: Medical Insurance - Another Bigger Problem!!

Talk to your Canadian relatives Bob. And next time you come over, look me up in London. I'll give you directions. Some of your fellow posters dissed our system, but for Canadians, medical care is a non-issue. *Especially for ER's like me. Mrs. Zipper works for a cancer hospital and I will attest that the treatments are world-class. We finally have our Provinces and Federal Gov't hammering out a universal drug care programme with one agency buying for everyone. I can still see Hank McKimmell, from Pfizer condemning the Canadian system, when he himself is/was a Canadian. The drug Co.'s have you by the balls down there.
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Re: Medical Insurance - Another Bigger Problem!!
Old 07-30-2004, 08:05 PM   #59
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Re: Medical Insurance - Another Bigger Problem!!

Hmmm...the drug companies DO charge us more.

I *have* it...the drug companies are in cahoots with the candian invasion planning team... Their plan is to weaken us financially by siphoning pharma money from our pockets. Then...when we're weakest...WHAM!

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Re: Medical Insurance - Another Bigger Problem!!
Old 08-01-2004, 11:54 AM   #60
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Re: Medical Insurance - Another Bigger Problem!!

Quote:
I have not really looked at lumpsum--do all providers offer? Do you mind sharing which provider you used and how long of period you ended up with before payment started. *Any particular "watch-outs" beyond getting AAA rating on agency if go Lumpsum
ThanksNWsteve
Nwsteve, I went with Allianz. At the time they were about to make some changes to the LTC plan then existing (increasing prices and reducing benefits), and I remember getting in under the wire *before they discontinued the plan I bought. I purchased a plan with a 90 day elimination period, 5% compound inflation rider (a must, IMHO), and unlimited days. We're covered both in-home and in-facility. I recall that it's important to pay attention to what it takes to trigger coverage (how many ADLs must be impaired AND who determines whether the impairment is present, organic cognitive impairment coverage, etc.).

I determined the amount of coverage based on costs at that time. I called a facility I knew to be good and asked what they charged for various levels (from double-room minimum care up to private room maximum care).

Here are a few questions I posed (among many others) and the agent's responses. I did it via email so I'd have a written record:

Q: What would happen if one of us went to a nursing home for 14 days and then home again. Would we be required to start all over again and pay for another 90 days - or would that individual have only 76 days left to pay in their lifetime?

A: The waiver of premium is once in a lifetime, and it can be satisfied by either under the home health care benefit or the Nursing Home care benefit. You only have to pay for 90 days in your lifetime.

Q: What would happen if one or both of us paid for 90 days of home care and then entered a nursing home later? Are we required to pay for 90 days of in home care and then pay another 90 days of nursing home care?

A: No. If you paid for 90 days of eligible home health care you would not have to pay for 90 days of eligible Nursing Home care.

Q: Is coverage offered in every state? In other words, if we move to some other state, will we get the same coverage in that state's nursing homes?

A: Yes! It does not matter where you go to the LTC facility, as long as the facility meets the definition of an eligible facility.

Q: One of our biggest concerns is that the insurance company will go bankrupt, especially since we're considering a single premium. We like the looks of Allianz - it is huge and the ratings are pretty solid. But Enron was huge and solvent too. What happens to LTC customers who are covered by a policy underwritten by an insurance company that folds? Does the state step in and pay benefits? Do other companies pick up the pieces? What assurances are in place that we won't be left holding the bag if that were to happen?

A: The State does have a guarantee fund that would guarantee benefits up to $300,000 if the insolvency occurred while under claim. If insolvency occurred while not under claim there would be no guarantee that you could have coverage with another company. Allianz, financially is one of the best options for writing LTC. They have a trillion in assets and they are very diversified. What the industry has seen from LTC carriers who have gotten in financial trouble is they have either sold off the block of business to another carrier or another carrier has assumed the block, but there is no guarantee of that always happening. There would be some risk no matter what company you go with, and that is why you want to pick a financially solid company.

Another thing - I made sure my kids know we have LTC insurance and where the policy is located. I have a long "letter of instruction" (many pages) listing everything our kids would need to know should one or both of us die or become incapacitated. I update that annually and the kids know where that letter is. They understand that it's the key to everything.
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