Reading reports, you had to expect this. It is said that Governor Snyder has basically handed over the deal to Washington to see what they can do for the state. It will be interesting to see what happens.
As a health insurance agent, I also will be curious to see what or how this "online" government site works. At Michiganhealthbroker, INC. , we work with all of the major health insurance companies within the state, or who is left. So how is the exchange going to help consumers within the state?
I would love to do a poll on what consumers of the state expect as Obamacare approaches. I can tell you that their are good aspects, and very poor aspects off the law that are starting to take effect. But what do the prospects off this state want with this exchange. Would you rather talk to an agent and respect his choices for you, or take responsibility on your own when it comes to buying your own Michigan health care?
Snyder apparently wants a "state driven plan", and all politics aside, you could not convince me that their is a difference.
Monday, September 3, 2012
Sunday, June 24, 2012
Michigan Consumers To Receive Rebates From Health Insurance Companies
Surprising enough to me in this article, Michigan consumers are set to receive 13.9 million in rebates from health insures from the state.
That is correct, over 114,000 consumers in Michigan will receive rebates based on certain health insurance carriers that they have. This is based on carriers spending more on admin costs, then what was allowed by the initial stages of the health care bill.
So how much? According to numbers around a rebate of $214 by 8/1/12. Again, this changes based on if you bought individual health insurance, or covered by group coverage. If covered by group, your rebate could possibly be a little higher.
Keep in mind if you have BCBSM, you will not be eligible for a rebate based on the DFP article. Most of the carriers who will be sending rebates are out of state carriers.
Randy
That is correct, over 114,000 consumers in Michigan will receive rebates based on certain health insurance carriers that they have. This is based on carriers spending more on admin costs, then what was allowed by the initial stages of the health care bill.
So how much? According to numbers around a rebate of $214 by 8/1/12. Again, this changes based on if you bought individual health insurance, or covered by group coverage. If covered by group, your rebate could possibly be a little higher.
Keep in mind if you have BCBSM, you will not be eligible for a rebate based on the DFP article. Most of the carriers who will be sending rebates are out of state carriers.
Randy
Wednesday, June 20, 2012
Michigan Retirement Options
Caught wind of a product yesterday that I would love to bring up to my book of business.
Let us look at some of the options that we are told about to use for retirement options. We do we usually do? We take pre-tax money, and put it into a "retirement vehicle" that we are told is tax deferred. Well at some point we are going to have to withdrawal that money, and usually at an older age where most of the time we have less tax deductions. So what happens, we pay more in taxes at an age where probably our income is not as high as once was.
What about other perks of these "vehicles?" In some plans if we need money before were 59 and a half, we get hit with extra taxes. In some we have to start withdrawing at age 70. Not saying these are bad for our interests, but their are other options to consider.
Consider this. A way to save with after tax money.
Let us look at some of the options that we are told about to use for retirement options. We do we usually do? We take pre-tax money, and put it into a "retirement vehicle" that we are told is tax deferred. Well at some point we are going to have to withdrawal that money, and usually at an older age where most of the time we have less tax deductions. So what happens, we pay more in taxes at an age where probably our income is not as high as once was.
What about other perks of these "vehicles?" In some plans if we need money before were 59 and a half, we get hit with extra taxes. In some we have to start withdrawing at age 70. Not saying these are bad for our interests, but their are other options to consider.
Consider this. A way to save with after tax money.
- Principle Protection (All the upsides to the market. No risk of loss.)
- No penalties for withdrawals before 59 and a half.
- Not required to take withdrawals at age 70.
- Tax free accumulation, with tax free access.
- Etc.
Was really surprised about what this plan can do for you. Want to see more? Contact me today to view more with a information video.
-Randy
Sunday, May 27, 2012
Applying Online For Michigan Medicare Supplement Coverage
Also seen a in a press release that just came out, Michiganhealthbroker, INC is going to online applications for consumers looking for Medicare supplement coverage.
Michigan is home to one of the most populous states when it comes to seniors. With this understanding, the agency now is specializing more into the Michigan Medicare market. When it comes to supplements, the agency now is representing some of the most popular carriers on the market. They include HAP, Standard Life, Omaha Insurance, and many more. Some of these carriers (not all), have the option of these consumers applying directly online with help from our agency. This has been a tremendous advantage as some people just do not want brokers at the table.
To learn more about the Michigan Medicare supplement market, contact us today.
Michigan is home to one of the most populous states when it comes to seniors. With this understanding, the agency now is specializing more into the Michigan Medicare market. When it comes to supplements, the agency now is representing some of the most popular carriers on the market. They include HAP, Standard Life, Omaha Insurance, and many more. Some of these carriers (not all), have the option of these consumers applying directly online with help from our agency. This has been a tremendous advantage as some people just do not want brokers at the table.
To learn more about the Michigan Medicare supplement market, contact us today.
Wednesday, March 21, 2012
My Michigan Group Health Insurance Plan Is "Top Notch!"
You know, most of the time you are right. However, within the last month I have ran into some horror stories here within the Michigan group health insurance market.
Both consumers tell me the same thing within a conversation that we were having. My group health insurance plan is "great" and "top notch." But let me ask you this, when is the last time you looked at the exact benefits of your health insurance plan that is provided to you from your employer?
Now I will say, 99% percent of the time your group health insurance plan is very good. However, the 1% can be disastrous for you. One of the consumers I mentioned above has a rough month, and ends up in the hospital with chest pains, etc. This leads to a couple of nights in the hospital, which in turn leads to some serious charges from the hospital.
March rolls around and what does this consumer receive? He receives a bill for $25,000 from the hospital. This guy works at one of the biggest retail chains in the country!! After he called me pretty upset, I was very curious to see the benefits that was provided by this very recognizable company. What did his group health insurance plan cover? I will tell you as it covered $10,000 of hospital charges for the year. That is crazy and almost criminal to me.
Moral of the story?? Every year get the benefit summary of your health insurance plan if it supplied to you from an employer.
Both consumers tell me the same thing within a conversation that we were having. My group health insurance plan is "great" and "top notch." But let me ask you this, when is the last time you looked at the exact benefits of your health insurance plan that is provided to you from your employer?
Now I will say, 99% percent of the time your group health insurance plan is very good. However, the 1% can be disastrous for you. One of the consumers I mentioned above has a rough month, and ends up in the hospital with chest pains, etc. This leads to a couple of nights in the hospital, which in turn leads to some serious charges from the hospital.
March rolls around and what does this consumer receive? He receives a bill for $25,000 from the hospital. This guy works at one of the biggest retail chains in the country!! After he called me pretty upset, I was very curious to see the benefits that was provided by this very recognizable company. What did his group health insurance plan cover? I will tell you as it covered $10,000 of hospital charges for the year. That is crazy and almost criminal to me.
Moral of the story?? Every year get the benefit summary of your health insurance plan if it supplied to you from an employer.
Monday, February 27, 2012
Michigan High Deductible Plan F Medicare Supplement Plan
Within the Medicare market, I am shocked to see how many Seniors do not know about the Medicare Supplement Plan F high deductible.
Across the market, Plan F and Plan G are the most popular, and obviously with a higher price tag. Those two plans have low out of pocket costs for Seniors, and give great comfort to the buyer in them knowing that complete coverage is in the place.
Over the last few years however, we have seen a lot of consumers ask about the Michigan high deductible plan F. In a sense being Plan F (remember plan F is complete coverage from day 1), with a deductible of $2070.00 before the plan kicks in. One would admit that it is a high deductible, but take in consideration the price. An "aging in" Senior turning 65 can find a high deductible plan F for around $45.00 a month. Regular Michigan Plan F Medicare supplement plans for an "aging in" can be found for right around $140.00 a month.
Again, the High F plan is booming. Seniors are finding that their Medicare advantage plans have out of pocket costs of over $3500 and so. They are asking about the plan. Other seniors are just asking.
Contact us today to learn more.
Across the market, Plan F and Plan G are the most popular, and obviously with a higher price tag. Those two plans have low out of pocket costs for Seniors, and give great comfort to the buyer in them knowing that complete coverage is in the place.
Over the last few years however, we have seen a lot of consumers ask about the Michigan high deductible plan F. In a sense being Plan F (remember plan F is complete coverage from day 1), with a deductible of $2070.00 before the plan kicks in. One would admit that it is a high deductible, but take in consideration the price. An "aging in" Senior turning 65 can find a high deductible plan F for around $45.00 a month. Regular Michigan Plan F Medicare supplement plans for an "aging in" can be found for right around $140.00 a month.
Again, the High F plan is booming. Seniors are finding that their Medicare advantage plans have out of pocket costs of over $3500 and so. They are asking about the plan. Other seniors are just asking.
Contact us today to learn more.
Michigan Charitable Giving With Life Insurance
As you can imagine, this is very popular within the state of Michigan. First off, consult with a CPA if or before you ever consider this.
A consumer picks a permanent life insurance plan, and in a nutshell will pay the premiums for it. However the church is the owner and beneficiary. You pay the premiums and if everything falls into place, you will be eligible for tax write off for the premiums that again you pay. To be more precise your premiums might be considered a "gift".
Different types of Michigan life insurance plans are popular when it comes to this. Single Premium whole life plans (one lump sum payment), 10 pay whole life plans (pay for ten years and policy is paid off), and lifetime pay whole life plans.
Learn more by contacting us today.
A consumer picks a permanent life insurance plan, and in a nutshell will pay the premiums for it. However the church is the owner and beneficiary. You pay the premiums and if everything falls into place, you will be eligible for tax write off for the premiums that again you pay. To be more precise your premiums might be considered a "gift".
Different types of Michigan life insurance plans are popular when it comes to this. Single Premium whole life plans (one lump sum payment), 10 pay whole life plans (pay for ten years and policy is paid off), and lifetime pay whole life plans.
Learn more by contacting us today.
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