Mr. Health Insurance of Maryland

Submitted by: Steve Klein

Health care costs are continuing to rise and health insurance premiums are unaffordable for many Americans.  Health Savings Accounts (HSAs) often offer an affordable alternative for many self employed and individuals who purchase their own health insurance plans.

What is health insurance designed to do?  I believe it is intended to limit your financial exposure should an unforeseen event occur that affects your health.  Ask yourself the following question and you will see what I mean.  What would automobile insurance cost if it covered regular maintenance such as oil changes, tires, etc.?  Clearly, the premiums would be much higher.  Automobile insurance is designed to limit your exposure to risk.

Many people use there health insurance frequently by running to the doctor’s office for something as simple as a common cold.  They make their copayment and the visit is included in their monthly premium.  This easy and unlimited access to a doctor for what I would suggest are non essential visits are what drives up the premium.

An excellent alternative is the Health Savings Account (HSAs) which blend a higher deductible with a tax savings that allows you and the insurance carrier to share the risk while still limiting your exposure to a known amount.  Many of these plans will cover an annual physical for no cost and every thing else is paid by you at the contracted rate until you reach your deductible.

Let me explain.  If a doctor charges $120 for a visit but your insurance carrier has a contracted rate of $55, then you will only pay $55 for the visit.  Since most plans have a $20 or $30 copy, this is really not costing you much more but you are saving about 30% to 60% on your monthly premium.  Once the deductible is met the carrier then pays 100% of future expenses.

Here is an example of the potential premium savings.  A 45 year old male for a traditional plan with a $20 copy and $500 deductible would pay $507 a month.  For the same client the HSA would only cost $139 a month for a plan with a $1,200 deductible.  This tremendous savings more than makes up for the higher deductible and even if the maximum deductible was met, it would still save him lots of money.

For more information on these accounts and other plans, contact www.mrinsurancofmaryland.com or call us on 866-654-4844.

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Submitted by: Steve Klein

October is breast cancer awareness month and I feel I would be remiss if I did not address this serious problem that faces millions of women.  As a health care professional specializing in helping residents of Maryland and Virginia find affordable health care without compromising quality, I talk to prospective clients daily who have faced this serious health issue.

Key to the success of breast cancer treatment is early detection.  Over 2 million American women with a history of the disease are alive today mainly because of early detection.  In addition, the 5 year survival rate is better than 95% if the cancer is detected before it spreads.

Women of any age can develop breast cancer, but as you get older you are at a higher risk for developing the disease.  Should you detect a lump on your breast, get it looked at immediately by your health care provider but be aware that over 80% of breast lumps are not cancerous.

Annual mammograms are a very valuable tool in early detection.  Here are a few tips when having this procedure done.  While it may sound funny, don’t use deodorant on the day you have a mammogram.  Using deodorant can make the x-ray much harder to read.  You also should not use any lotions or powders under your arms or on your breasts that day.

I’m sure you have heard the medical claims that alcoholic beverages contribute to breast cancer.  Well, according to the American Cancer Society the use of alcohol only slightly increases the risk and women who may consume one drink a day have a small increase in risk or no increase at all.  On the other hand, women who consume 2 - 5 drinks a day increase their risk by up to 5 times the risk if women who drink no alcohol.

When is the best time to do a self examination off your breasts?  Health professionals say that the ideal time is 1 week after your period starts.  If you have gone through menopause, check your breasts on the first day of the month which is easy to remember.

Here is an interesting finding about smoking.  The American cancer Society has not found any direct link between smoking and breast cancer.  However, they do say that the risk is greater among women who started smoking in their teens.  Since smoking has been linked to other serious health issues, it is obviously a wise decision to quit smoking so that your body can heal.

The risk of breast cancer is greater among women who have children later in life of who never have had children.  Studies show that women who have their first child before the age of 30 and breast feed for 6 months or longer are less likely to develop breast cancer.

The American Cancer Society says that women who have a mother, sister, or daughter with breast cancer are double the risk to contract the disease.  Women whose close blood relatives on either the mother’s or father’s side of their family had breast cancer are also at a significantly increased risk.

Breast cancer can be treated by surgery, radiation, and chemotherapy.  Many new and less invasive treatments are being worked on as we speak.  Often, patients receive more than one type of treatment.  The treatment can be physically and emotionally debilitating so early detection is crucial to saving your life and sparing you much of the pain and suffering associated with the treatment.

When should women start getting mammograms?  When you turn 50 you should absolutely have an annual mammogram.  However, younger women should talk to their doctor about how often they should have a mammogram.  Many health care providers will want you to start at an earlier age and possibly more often if they believe you are at a greater risk for contracting the disease.

Studies show that exercise can reduce the risk with estimates for women under 40 ranging from 2 to 4 hours a week.  The best course of action in my mind is to focus on doing things for your all around health.  That means no smoking, limiting your consumption of alcohol, eating a health diet, maintaining a healthy weight, and exercise.  None of this guarantees whether you will or will not get breast cancer, but it will certainly boost the odds that you will not.

As a health insurance broker here in Maryland and Virginia, I often speak with people who are not inured and they have had an occurrence of breast cancer or some other difficult health issue.  Health care is expensive, especially when there is cancer involved.  The time to protect yourself is now, before you have a major health problem to consider.

At www.mrinsuranceofmaryland.com, we are here to educate our clients so they can make the best choice to limit their exposure and choose the best health plan for themselves and their family.  Our service is free so please contact us through the web or call us today at 866-654-4844 and remember…”Your health is our business!”

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Submitted by: Steve Klein

Health insurance premiums can really put a strain on your budget if you are among the millions of Americans who have to pay for their own coverage.  Rates this year alone are expected to increase by at least 8%.  With rising premiums and the expensive cost of health care staring you in the face, what can you do to keep your premium at an affordable premium without compromising quality?  Here in Maryland and Virginia, there are six major health insurance carriers competing for your business.  New plans are always being introduced, several which can save you 30% to 50% on your monthly premium.  Here are six ways you can avoid making the carriers rich while still protecting yourself and your family.

1. Hire a health insurance agent.  There are many independent health insurance brokers from all over the country who are licensed here in Maryland and Virginia, but you should only work with a local health insurance broker.  Why?  The premium is the same whether you use a broker or deal directly with the carrier.  Your local broker interacts with the carriers in your area on a daily basis and will be better able to serve you and assist you with any claims issues.  Also, as your broker I represent you, not the carrier so I will be ready to help you compare all the plans available in your market to help you make the right choice.
2. Choose a Health Savings Account (HSA). The purpose of any insurance plan including health insurance is to limit your exposure to financial risk.  The HSAs accomplish this at a reasonable cost and it works like this.  You pay for expenses at a discounted rate until you reach your deductible.  Once the deductible is reached, your carrier will pay 100% of all claims.  In exchange for a premium that is up to 50% less expensive that other plans, you accept responsibility for your medical expenses until the deductible is reached.  I was recently able to save a client nearly $1,000 a month on his premium by moving him from a traditional plan to the HSA.
3. Choose a Higher Deductible.  Most people are spoiled by having very low deductibles on their employer paid plan.  However, the lower the deductible, the higher the premium.  If you are young, the premium will be low even with a low deductible, but those of us who are older should choose a deductible of at least $2,500.  A plan for a family of 4 where the husband and wife are both 35 years old could cost $680 a month while an HSA would cost only $250 a month.  The savings clearly makes up for the higher deductible, especially if you don’t see the doctor very often.
4. Eliminate the Copayment.  Sure, it is only $20 or $30 for you to see a doctor,  but the cost of a plan with a low copayment and a low deductible can break the bank.  You only pay the contracted rate any way so the copayment doesn’t really save you any money.   A 35 year old husband and wife with two children would lower their premium from $430 a month to $280 a month.  If you are not constantly running to the doctor, the $1,800 annual savings could be a huge financial boon to you.
5. Shop and Compare.  Not only are there 6 different major carriers in Maryland and Virginia but each carrier offers a multitude of different plans.  The premium can vary widely from carrier to carrier so make sure you compare price and benefits before you make a decision.  That’s where your independent broker can really help you with one stop shopping and comparing rates and programs for you.
6. Review your policy annually.  Why?  Carriers often come out with new plans every year so it is wise to have your broker keep you informed.  Since the new plan will have no record of claims, it is often much less expensive than an older plan that has been on the market for awhile.  Simply staying informed of new developments in the health insurance market can save you 30% or more in premium dollars.

I hope at least one of my suggestions will help you lower your premium and maintain an affordable health plan without compromising quality.  Affordable health care exists, but you need to work with an experienced broker who will help you navigate the system and choose the plan that will best serve you and your family.  Compare plans and get your instant health insurance quote at www.mrinsuranceofmaryland.com or call me today at 866-654-4844.  Your health is my business!

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Submitted by: Steve Klein

Health Savings Accounts or HSAs are changing every year as contribution rules and covered benefits evolve and improve. Stay informed on the latest information here on my blog.

For calendar year 2009, the annual limitation on deductions under 223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,000 and the annual limitation on deductions under 223(b)(2)(B) for an individual with family coverage under a high deductible health plan is $5,950.  This is a slight change from the current year and look for this trend to continue as the government tries to make health insurance more affordable.

For calendar year 2009, a high deductible health plan is defined under 223(c)(2)(A) as a health plan with an annual deductible that is not less than $1,150 for self-only coverage or $2,300 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $5,800 for self-only coverage or $11,600 for family coverage.  This is also a slight change from the current year of only $50 a person and $100 for a family.

HSAs are growing very rapidly and for all the right reasons. The purpose of insurance, any type of insurance, is to limit your financial exposure should something unforeseen occur.  HSAs accomplish this very nicely and at a reasonable cost.  HSAs offer premiums of 30% to 50% lower than traditional health plans because you share the risk up front with a higher deductible but you limit your exposure once the deductible is met.

When you factor the significantly lower premium together with the tax advantage of the HSAs, in most cases you will save thousands of dollars without compromising on your health care.  I often call the HSA account “an IRA or 401K for health care” which is a fair analogy.  As the cost of health care continues to rise and insurance premiums follow suit, the HSAs will continue to become a more attractive choice for most Americans.

I am your expert on health plans in Maryland and Virginia.  Call me today at 866-654-4844 for more information on all the plans that are available in our region.  You can also visit me on the web at www.mrinsuranceofmaryland.com where your health is our business.

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Submitted by: Steve Klein

Many people participate in employer provided group health insurance plans.  For those who qualify, especially when the employer is paying part if not all of your premium, this could be your best option.  However, for the millions of us where this is not an option, it is still very important to seek coverage.   Individuals and families have access to a wide variety of excellent and affordable health plans.  In addition to being cost effective, these plans are portable which means your coverage will never be affected by a job change or job loss.  It is your health plan for as long as you choose to remain on it.

The objective of any health insurance plan is to limit your exposure and reduce your financial risk should something unforeseen happen.  In addition, most plans allow for routine medical expenses such as an annual physical to be covered.  There are several components to a plan that you can choose:

Co-Payment: This is the flat fee you pay for specific areas of the policy where the deductible does not apply.  For example: $30 physician visit; $50 urgent care; Prescription: $10 Generic, 25 Brand, and $40 Non Brand.

Deductible: This refers to the financial exposure that the insured will be responsible for before the benefit begins.  This does not include co-payments and applies primarily to PPO policies.

Co-insurance: Once the deductible has been met, this is the portion that is shared by the insured and the insurance carrier.  It is the difference between the deductible and the maximum out of pocket.  Most plans are 80/20 or 70/30 with the lower number being the responsibility of the insured.  For example, if the medical bill is $2,000 and the deductible is $1,000, if you have an 80/20 plan then you would owe $1,200 (the $1,000 deductible plus 20% of the rest which would be $200).  Once you have met your deductible and reached your maximum out of pocket, the insurance company will pay 100%.

One of the keys to a good health insurance plan is that you never pay more than the contracted rate.  This fee has been pre-negotiated by the insurance carrier and represents the amount of money the carrier will pay the physician, hospital, pharmacy, or clinic.  You will never pay more than the contracted rate….I guarantee it!

My goal is to educate my clients so that they limit their exposure and receive the benefits they want and need.  We work together to choose an affordable plan without compromising quality.  The premium is the same whether you go directly to the carrier or choose to have a broker assist you so it makes sense to choose a broker who is familiar with all the carriers in your state to assist you.

Get your free quote today at www.mrinsuranceofmaryland.com or call me directly at 866-654-4844.  I want to earn your business and serve as your broker.

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Submitted by: Steve Klein

If you are self employed, don’t have health insurance through your employer, or possibly retired before you have become eligible for Medicare, finding a health insurance plan you can afford could be a challenge.  The good news is that you can find an affordable plan without compromising quality.

One of the major differences between buying your own health insurance as opposed to being in a group plan at work is that the group plan is guaranteed issue.  Because insurance companies can not reject anyone or adjust rates based on risk, they end up charging everyone more.  If your employer is paying all or even a portion of your monthly premium, you may not realize the high cost of the plan you are on.  An individual health plan is fully underwritten so the insurance carrier has the ability to reject high risk clients which means the monthly premium will be lower.

Maryland health plans include a high risk pool that is supported by the state and offers guaranteed issue.  The plan is managed by CareFirst which is the Blue Cross and Blue Shield affiliate in the state.  Virginia has a similar plan but it is through Anthem Blue Cross and Blue Shield in that state.  These plans can be expensive but when there are no other options available, they can be an excellent solution to what could become a very big problem.  An excellent choice here in Maryland is the High Deductible plan which costs only $175 for someone who is 55 years old.

What is the best way to educate yourself about the choices that are available to you for health insurance?  I suggest following these steps:

1. Use a licensed health insurance broker who knows your market.  I live in Maryland and I work with health insurance carriers in Maryland and Virginia only.  By limiting the territory I work in to my home region, I can help my clients shop for price, help with claims, and advise them of what to expect in terms of rate increases and any other issues that can arise.  In addition, the service I provide is free!  Whether you use a broker or go directly to the carrier, the monthly premium will be the same.  With that in mind, doesn’t it make good sense to talk to an independent health insurance broker before you choose a plan?

2. Ask for a written price comparison or you can get quotes from the web.  My site is  www.mrinsuranceofmaryland.com and all you need to do is enter your zip code to get a rate comparison from all the Maryland health insurance carriers and the Virginia carriers as well.  With rates and program descriptions in hand, you are now prepared to evaluate and choose the best plan for yourself and your family.

3. Consider a high deductible plan that has a Health Savings Account option or HSA.  Your premium will be significantly lower than for a traditional health plan plus you will have an added tax advantage where you can deduct up to $3,000 of medical expenses for an individual and $5,950 for a family.  Any funds you put into your HSA account become tax exempt and there is no time table for using that money.  At age 65, the money can be used tax free.

The greatest cause of bankruptcy in this country is from Americans being either uninsured or not insured at all.  Don’t let yourself become a statistic and expose yourself to undue risk and even financial ruin.  Consult with a licensed health insurance broker in your state and you will learn about the choices that are available at a reasonable cost.  With that information in hand, you can make an educated decision as to what is the best path and the best plan for you to take.

Remember, free quotes are available online at www.mrinsuranceofmaryland.com and I can be reached daily from 8 AM to 8 PM at 866-654-4844.  Take advantage of this free service, learn about your options, and make an educated decision that will give you peace of mind.

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Submitted by: Steve Klein

The health care system is difficult enough to navigate without having to make decisions as to what plan will best serve you and your family.  There are two major segments of the health insurance market which means you must make a choice as to whether you want an HMO or a PPO.  Let me take a minute to explain the differences between these two plans.

HMO stands for Health Maintenance organization.  Kaiser Permanente is an example of an HMO in that you must always go to their building for service and you are only allowed to use their doctors.  A better definition of the HMO is that it is an organization of healthcare providers that have contracted with an insurance carrier to offer their services at a fixed price.

A major feature in an HMO is that you must choose a primary care doctor who acts as a gatekeeper and manages all aspects of your health care.  Your primary care doctor must be a member of the HMO.  If you join an HMO plan and your doctor is not a member, you ill have to find a new doctor who does participate in the network.  This makes the HMO more restrictive than other plans plus there are rules you need to follow should you need to see a specialist.  You will need a referral from your primary care doctor before you visit a specialist or the visit will not be covered by your plan.

The biggest advantage to an HMO is the cost.  HMO’s are often less expensive than other insurance plans with lower copayments and deductibles as well.  This can save you, the consumer, a great deal of money on your health insurance plan.  However, don’t forget that these are companies that are in business to make a profit so your HMO doctor will be seeing as many patients a day as possible in order to minimize the cost to the organization.

PPO stands for Preferred Provider Organization and these plans are much less restrictive that the HMOs.  If you have a PPO you can see whatever doctor you like as long as they have a contract with your carrier.  If they accept the Blue Cross or United HealthCare plan you are on, then you can visit them at will.  You may also visit a specialist without having to get a referral.

While PPOs cost a little more than the HMOs, these plans are very popular because they are less restrictive.  You will have more control over your healthcare decisions than you would under an HMO.  Personally, I prefer the PPO for the flexibility it gives me in choosing which provider I want to see without having to take the extra step of going through a primary care doctor to do so.

Most people with decide which health plan works best for them and price is often a factor.  HMOs are significantly cheaper and limit your out of pocket expenses, but you do give up the flexibility of a PPO and your choices are more limited.

Regardless of your choice, either a PPO or the HMO, one of the most important facts to remember about a health plan is that you are limiting your exposure to risk and you are getting your medical treatment and services at the carrier’s negotiated rate.  Whatever you decide, it will be better than having no insurance at all.  Even if you can only afford a high deductible plan, you are protecting yourself from financial ruin by putting a cap on your exposure.

Visit our web site at www.mrinsuranceofmaryland for a free quote.  Call us today at 866-654-4844 and we will help you choose an affordable health plan without compromising quality.  Your health is our business!

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Submitted by: Steve Klein

Health care costs can be very expensive and the insurance industry can be very difficult to navigate.  Moving to a high deductible plan that is compatible with a health savings account or HSA will lower your monthly premium by 30 to 50%.  The premium savings alone will often be more than enough to cover the higher deductible.  In addition, there is a built in tax advantage that will save you even more money will allowing you to build a health care savings plan to cover future expenses.  Here’s how it works.

When choosing a health plan, you must select a deductible of at least $1,100 for the year.  In 2009, this will actually go up slightly to $1,150.  A Blue Cross plan in Maryland for a 35 year old male with a $500 deductible would cost $202 a month in premium.  For this same client, the HSA with a $1,200 deductible would only cost $91 a month!  This represents a savings of $111 a month which the insured would keep in his pocket.  This represents an annual savings of over $1,300 a year which more than makes up for the $700 difference in the deductible.  In addition, once the deductible has been met our 35 year old male client will be 100% covered with no coinsurance responsibility.  This represents a tremendous financial savings and makes the plan very affordable.

In addition to the savings of over 50% in this case, out of pocket expenses can be paid from tax free savings.  If this same client were to open a separate checking account and designate it as his HSA account, he can deposit up to $3,000 a year in this account and write it off on his tax return.  It is basically an IRA account for health care!  These funds can not only be used to pay for deductibles, copayments and prescriptions, but also can be used for over the counter items as well.  Contact me at steve@mrinsuranceofmaryland.com for complete list of allowable expenses.

The corporate world offers flex spending accounts but HSAs have a feature that makes it significantly better.  With a flex spending account, you either use it or lose it during the calendar year and each year you start over.  The HSA account allows you to roll over money year after year so that you are building a long term savings account for health care.  In addition, once you reach 65 any money that you have in your account can be withdrawn tax free.

I work with clients in Maryland and Virginia.  Several carriers in these states including the Blue Cross plans, United HealthOne, Aetna, and others offer excellent HSAs at very reasonable prices.  Among the numerous Maryland Health Insurance Plans you can choose from, the health savings account offers the most protection at an affordable price.  This is also true in Virginia.  Don’t let yourself pay more than you should for insurance and for health care.  Call me today on 866-654-4844 or get your insurance quotes on the web at www.mrinsuranceofmaryland.com.  We are local, full service, and there is no charge for the service provided.  Remember…your health is our business!

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Submitted by: Steve Klein

Insurance companies are in business to make a profit which is common knowledge and common sense.  As a result, they are not interested in providing health insurance coverage to someone who has an existing health problem or preexisting condition.  They protect their profits by creating a barrier to new applicants who might have a serious health issue like cancer, diabetes, previous heart attack, HIV, etc.  Often, these are the people who are in desperate need of health insurance to afford treatment of their illness.

There are ways that a person can obtain health insurance regardless of their medical condition or health history.  Let me take a moment to highlight several of the most popular and effective way to obtain coverage should you fall into the high risk category.

Many Americans get their insurance through their employer.  Under the federal HIPAA laws, group plans offered by employers are guaranteed issue which means they can not turn you down because of your medical condition or health history.  If you are a full time employee, regardless of your health, you must be allowed to enroll into the company’s health plan.
The disadvantage to having an employer sponsored health plan is that you lose your insurance when you leave your job.  COBRA continuation laws allow you to keep the plan in force for 18 to 36 months when you leave a job, but it will eventually terminate.

Several states offer guaranteed issue plans that were mandated by state law.  These plans are offered here in Maryland and also Virginia.  These plans vary from state to state but you will be accepted for coverage no matter what kind of health you are in.  Preexisting health issues are often covered from the start and they will always be covered after a 12 month waiver period has been completed.  These plans can be pricey and are often the plan of last resort, but they are effective at limiting your exposure to financial risk should you need to go this way.

Most people are not aware that there are also plans called mini med plans that will defray some of your health costs.  They are less comprehensive than a traditional plan but they also offer an affordable solution to a wide spread problem.  Most plans of his nature offer reimbursement for a limited number of doctor visits, a fixed amount of days for hospitalization, and a discount on prescriptions.  The real key to these plans is that the insurer will always guarantee you will never pay more than the contracted rate.  This is huge and can save the consumer thousands and thousands of dollars should a catastrophic illness occur.

Additional options are available for military veterans through the VA and there are numerous group plans that have been developed and marketed by trade associations.  A word to the wise is that not all of these health plans are the same so make sure you thoroughly understand what you are buying.

We are a full service brokerage and there is no charge for what we do.  The monthly premium will be the same whether you go direct to the carrier or use me.  We offer added value to our clients by handling all claims issues for them plus we have access to support people at the carriers who can answer questions and solve problems.  Our goal is to educate you so you choose the best plan for you and your family.  Visit us on the web at www.mrinsuranceofmaryland or call us at 866-654-4844.

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Submitted by: Steve Klein

Baby boomers are aging more rapidly that we would like to admit so what can we do to slow the process and increase out odds of living longer?  It seems that physical activity not only improves health but cognitive skills as well.

A recent study was conducted involving close to 200 men and women with memory problems who were an average age of 69 years old.  These people were not seriously impaired enough to be classified as having dementia.  They were assigned randomly to two groups.  One group was provided with educational information about memory loss, stress management, and healthy living including facts about dieting and drinking, but nothing about exercise.  The second group received identical information plus they also exercised by walking for 50 minutes at least 3 times a week.  Periodically, all of the participants were given cognitive tests.

After six months, the group that exercised showed a slight improvement on average in cognitive abilities.  The other group showed a slight decline in cognitive scores.  As the duration of the study was extended to a full year, this difference remained.

Older people are most often affected by declining cognitive skills.  For example, they are more often to forget someone’s name even if that person is a long time friend.  Often more serious memory problems occur such as asking the same question repeatedly or becoming confused about people and places.  These are possible symptoms of a more serious problem.

The longer you live the more likely you will be susceptible to a decline in your cognitive skills.  However, as the study shows, those of us who remain active and exercise regularly will fare far better than those of us who don’t.  So get up and give me 20!

For more health related information, visit us at www.mrinsuranceofmaryland.com.  We are your full service health insurance broker and our service is free!  We represent you, not the carrier, but we work with all the major carriers in our state.  Visit us on the web or call 866-654-4844 today.  Remember…your health is our business!

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