Joel Rosenblum, owner of Insurance for Asset Protection, providing health, life, and Medicare supplement insurance plans in Colorado - call 720-298-3516.

Health Care Reform Information

I thought some of you might be interested in the major changes in health insurance policies that begin to take effect, September 23, 2010. The first provisions of the Patient Protection and Care Act (PPACA) go into effect on Thursday 9/23/2010. Exactly six months from the date the president signed the legislation, and as expected, disagreements and conflicts between the insurance carriers and the government are starting to heat up!

If you have small group coverage you may be able to take a tax credit of up to 35% of your premium on employees making under $50,000 a year and who are not members of your family. If they make less than $25,000 per year, you might qualify for the full 35% benefit. This provision is already in effect for 2010.
Most of the really big changes such as "guaranteed issue" for all people covered on individual and family plans, and the addition of Insurance Exchanges (where one might purchase coverage at a subsidized rate) don't happen until January 1st, 2014. The Exchanges are state run, and their design is a complex and controversial issue already being debated here in Colorado.
Minimum loss ratio regulations are due out in October. They are designed to make sure that carriers pay 80% to 85% of each dollar that comes in for claims. This regulation has also been hotly debated and may have some unpleasant consequences for consumers and brokers.
There are two very significant changes coming to Colorado individual and family plans on January 1st, 2011:
- Unisex rates: Same rates for men and women of the same age. This will have a negative impact on rates for younger men and older women.
- Maternity Coverage will be included on new individual plans (although not if it's a preexisting condition) and added to existing coverage upon your anniversary renewal. The Department of Insurance has not written the regulations in regard to this coverage yet, so the details of how this transition will work are not yet known. The only thing I can tell you for sure is that rates will not be going down January 1st.

I am currently the Legislative Chair for the Colorado Association of Health Underwriters (the professional organization of insurance brokers), so if you feel passionately about a health care related legislative issue, please let me know. Perhaps you'll want to testify at the statehouse on an issue that will have an effect on your business or family.

Below I have attached two articles. The first explains the new wellness benefits and removal of lifetime limits, as well as child only coverage. The second will be of great interest if you have individual or family coverage with Anthem.

This article from Monday's Denver Post hits on a couple of the issues the individual market is dealing with currently. The bullet points at the bottom highlight changes effective on October 1st for all plans.
View Article
The article from the Boulder County Business report is about Anthem and the Colorado Department of Insurance's review of their individual rate increase of 1/2010. The bottom line is that if you have had an Anthem individual policy in the last year you will get a premium credit of about one month's premium I've heard, or if you are no longer covered by them, a refund check.
View Article

Please feel free to contact me with your questions.

Thank you,
Joel

Websites:

www.nahu.org/legislative/index.cmf - Health Care Reform information from the National Association of Health Underwriters.
www.uhc.com/united_for_reform_resource_center.htm - Reform issues from United Health Care's perspective.
www.gettinguscovered.org - information on health pools for those unable to obtain coverage in the individual insurance market.

Blogs:

www.HIexchange.org - HIExchange is a blog featuring information about the Colorado insurance market and its future.
www.Alankatz.wordpress.com - Alan Katz's blog is a cerebral look at national healthcare reform and its affect on consumers and brokers.

Top of Page

Joel Rosenblum is the owner of Insurance for Asset Protection. IAP provides health insurance plans, including individual, group, and medical supplements, and life insurance plans in Colorado.

Joel Rosenblum, Owner
Insurance for Asset Protection
Phone: 303-499-0623
Cell: 720-298-3516
Fax: 303-499-1362

Contact Me

Home About Me Individual Plans Group Plans Medicare Supplements Life Insurance
About HSAs Testimonials FAQs How I Work with You Healthcare Reform Information

Website design by Annie Hughes for Earthshine Design.