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August 2010

August 27, 2010 by  
Filed under Newsletter

New Health Law Likely to Raise Premiums Even Higher
As if the rate of medical inflation, currently between 10-13% depending upon which insurance company you ask, wasn't onerous enough along comes PPACA. Loaded with insurance coverage mandates, many of which take effect October 1, 2010, the result of which will certainly be to accelerate rate increased across the board. This August 9th article from the San Francisco Chronicle does a fantastic job of explaining what we at LSA have been saying about mandates for years.

New Health Law May Bring Pricier Premiums

Preventive Services Covered Under the Affordable Care Act
If you have a new health insurance plan or insurance policy beginning on or after September 23, 2010, certain preventive services must be covered without your having to pay a co-payment, coinsurance or meet your deductible when a network provider delivers these services. The Department of Health and Human Services has recently published guidelines for what is considered 'preventive'. As plans renew carriers will automatically include these new coverage guidelines to non-grandfathered plans. Ask your LSA representative if you are unsure about the your new coverage limits.

Preventive Services Covered under the Affordable Care Act

Emerging Data on Consumer-Driven Health Plans
High deductible or "consumer driven health plans" are gaining in popularity as a way of controlling employer healthcare costs. HRAs and HSAs are plans that include catastrophic insurance coverage and a savings account controlled by the insured. New data are suggesting that they are effective in controlling medical costs when compared to traditional PPO fee for service plans. What is driving the savings is revealed in this rather forensic yet very informative study published by the American Academy of Actuaries.

Emerging Data on Consumer-Driven Health Plans

Larry Sherwood & Associates provides benefits consulting & insurance services to over 300 companies just like yours.


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