Kentucky Health Insurance - Update on the New HealthCare Bill - Tanning Tax

Kentucky Health Insurance - Update on the New HealthCare Bill - Tanning Tax

Months ago you may have heard of a tax on botox in the news stories covering the new health care bill. They had inserted a 5% tax on botox and other cosmetic procedures which received quite a bit of backlash. In the weeks after this "botax" as it was referred to, doctors and industry groups lobbied against the tax arguing in part that it discriminated against women, who receive the majority of cosmetic surgery and anti

-aging injections. The site Stopcosmetictax.org, financed in part by Allergan, which makes Botox, stated that “it is unfair and insulting” to impose a penalty on cosmetic procedures sought primarily by women as if the procedures were unhealthy, like smoking.



Dr. David M. Pariser, the president of the American Academy of Dermatology, said his association proposed that an indoor-tanning tax be considered in place of the cosmetic tax, and that it contacted the offices of senators. “We made the case this will reduce health care costs by hopefully reducing skin cancer in the future — that’s the point — and also raise a little revenue now,” Dr. Pariser said.

The 10 percent tax on indoor tanning services will raise $2.7 billion over 10 years which is designed to offset some of the expense of providing health insurance for millions more Americans.

What do you think? Are you for or against this tax on indoor tanning? Leave a comment about these changes to Kentucky health insurance to let us know what you think.

Kentucky Health Plans - What To Think About Before You Shop

So you've decided to start researching new Kentucky health plans...but do you know what to do before you search? Here is a short and simple guide to assist you in what can be an incredibly overwhelming task.

1. What can you afford? How much can you or your family afford to spend monthly on your premiums? Its important to have an idea of what you can spend, however keep in mind your budget could be slightly unrealistic depending on your expectations of coverage and health conditions.

2. How much can you afford to be responsible for in medical costs should something catastrophic occur and your max out your deductible and/or out of pocket maximum? Deductibles can range from $250 to $10,000 for an individual and $500 to $20,000 for a family plan. THE HIGHER YOUR DEDUCTIBLE THE LOWER YOUR MONTHLY PREMIUM. This is key to take note of. The average deductible that we are currently selling to our clients is about $2,500 to $3,000 for an individual and $5,000 to $6000 for a family.

3. Are copays a necessity for your plan? There are now 2 main types of Kentucky health plans...with copays and plans without copays. The plans without copays are called HSAs (Health Savings Account). The most important reason to consider how important copays are to your plan is they significantly raise the price of your health plan if they are included. Consider getting an HSA and you could literally save thousands a year on your health premiums.

Questions? Not sure what you can afford? Not sure what a prudent deductible for your family would be? Contact the independent agents at One Source Benefits today for a free consultation!

More questions about Kentucky Health Plans? Contact us!

Kentucky Health Plans - Anthem HSAs

The Anthem HSA works just as others Kentucky health plans would work, except without the copays and with an excellent preventative benefit included in it. Why are there not any copays you may ask? Well, for two reasons mainly. Including copays in a plan takes away your control over where your health care dollars are being spent. With a plan such as an HSA you, the consumer, is fully in control of where each of your health care dollars is going. Also, all of the money you spend is applied directly to your deductible, whereas copays are not. Therefore, you are able to start chipping away at your deductible from day 1 of your plan. The second reason that it is good to have a plan without copays is that it will save you between 30 and 60% on your premiums. Why is this? When a plan includes copays the premiums must be raised to account for the extra money that the health insurance company will pay to a doctor each time a copay is paid by the consumer. For example, if you had cold symptoms and decided to go see the doctor with a typical copay plan you would just pay $30 to see the physician and then go on your way. Meanwhile, the health insurance carrier is paying close to $100 on the back end to take care of the actual cost of that visit. Keep in mind, your copay is not applied toward your deductible. Now, take this same scenario and apply it to a consumer who has an HSA plan. If his cold was bad enough to possibly need a prescription antibiotic and he went to see his physician he would pay the Anthem pre-negotiated rate and that amount would also be applied toward his deductible. If, in fact, he did receive a prescription he would pay for that in the same way as his office visit (that amount too would be applied to his deductible).

The benefit that sets the Anthem HSA aside from all others is the unlimited preventive benefit. This covers all well-child visits, immunizations deemed necessary by the state, yearly physical for adults, mammogram, pap test, colonoscopy, etc. This benefit is unlimited, there is no dollar cap on the amount that will be covered in preventive services. There is no charge or copay for any of these services. They are free to the consumer who pays their premiums for their HSA plan. This could save an individual hundreds of dollars a year in medical expenses, and even thousands for a family plan. What a great opportunity for savings!

More questions about Kentucky Health Plans? Contact us!