This time of year is known as “open enrollment” for those who receive health benefits from their employers. It’s not really surprising that health insurance premiums, in general, are up. MarketWatch reports that premiums on family coverage are up by around 5%. In this economy, many families can’t afford that sort of an increase. Especially since, for many, health insurance was barely affordable before.
Bottom line: There can be health care reform all over the place, but without a viable public option health insurance companies will have no incentive to work efficiently, or reconsider the practices that somehow lead to CEOs …read more

One of the main causes of bankruptcy is medical bills. It’s nice to think that most of the people declaring bankruptcy are doing so because of credit card debt and out of control spending, but many of them are actually doing so because of medical bills. (Credit card debt probably has something to do with it, but $5,000 on credit cards is usually nothing compared to a $30,000 hospital bill.) A good chunk of those who have financially catastrophic medical bills have insurance. Or had insurance.
This state affairs illustrates the financial risk of losing health coverage. If you have health …read more

The Senate Finance Committee has just green lighted a version of a health reform bill that could end up costing you. One of the key elements of the legislation is that everyone will be required to purchase health insurance — or pay a penalty. Um, I guess that’s one way to get universal health care coverage. Both parties are to blame on this one, since it’s clear that the people crafting this legislation are not really interested in offering true solutions to the problem of health care that is rapidly becoming unaffordable for more and more people. (They are too …read more

In a time when you might be squeezed for cash, paying out the nose for health care can be a depressing. This is especially true if you are looking for things like dental and vision, that are not usually included in most health insurance plans. This is coverage that you may have to purchase separately, and that can be expensive. The good news is that you might be able to get a cash discount.
Asking for a cash discount
My dentist offers a 10% discount if you pay cash at the time you make an appointment. In many cases, the charge for …read more

Is healthcare for all Americans a good investment?
I’m a finance person and I typically stick to my specialty, but the ultra-heated healthcare debate got my attention last night. Previously, I opted not to pay attention to the TV reports since many of them were so outrageous!
But last night, I tuned in to hear what President Obama had to say.
Aside from being disgusted with the disrespectful outburst of one congressman, I was pleased with President Obama’s speech.
It clarified some things for me, and hopefully it can lay to rest some extreme claims that had been circulating.
However, when any important issue is on the table one …read more

Wal-Mart has thrown its hat into the contentious debate between those who think that employers should be forced to provide health insurance for their employees and those who do not support the idea. In a move that comes as a big surprise to many retailers, Wal-Mart supports a federal mandate that would compel employers to provide health coverage.
According to Wal-Mart’s letter to President Obama, the rising cost of health care can be blamed on the large number of uninsured Americans, so a federal mandate that would drastically increase health insurance coverage would also drive down healthcare costs.
The National Retail Federation, …read more

Small business owners see no light at the end of the tunnel for health care.  Health care is the second highest expense for most small businesses, after employee wages.  The health care dilemma is causing many small business people to pull out their hair. Although employee health care probably won’t be mandated for the smallest of businesses (those with under 25 employees), not having health care will mean not being competitive for jobs with larger employers.  Many of us small business owners need the coverage ourselves, and high health premiums can put us out of business. We have few options, …read more

If you are unemployed, semi-retired, or just ready to get out of the corporate rat-race, you may be thinking about starting a business of your own.  Maybe you are thinking about a home based business or a franchise or a simple store-front or online business.  But before you take that leap, there are some critical things you will need to protect you and your family. In other words, before you jump into that business, you need a parachute.
Insurance. You will need insurance, primarily health insurance.  If your spouse works, or if you have health insurance as a retiree or from …read more

One of the biggest costs small business owners have to deal with is employee health insurance. It’s the reason many small businesses don’t have health insurance.  Looking for small business health insurance can be a “sticker shock” kind of thing – the costs may be way higher than you expected.
The Benefits – and Cost – of Small Business Health Insurance. Having health insurance for your employees can make you more competitive, but it’s a pretty high price to pay.  And fewer small businesses are willing to pay the cost.  BusinessWeek reports that the number of small businesses offering health insurance …read more

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