Traditional PPO Plan Compared To HSA PPO Plan

Posted by IQ HSA on September 25, 2009 · Leave a Comment

The following comparison was done for a family of four who was currently covered by a traditional PPO plan with Blue Cross Blue Shield of Arizona.

Blue Cross PPO plan
$2500 individual deductible
80/20% coinsurance
With this plan your family could have a maximum out of pocket of $17,000 not including any copays you incurred during the same year ($2500 deductible x 2/family members=$5000; 20% coinsurance with an individual maximum of $3000/member x 4 family members=$12000). Obviously this would be a worst case scenario if all of you maxed out the benefits in the same year.

United HealthOne/Golden Rule HSA 100 Plan
$5000 family deductible
100% coinsurance
With this plan your family could have a maximum out of pocket of $5,000 total because all of your expenses during the year count towards meeting your family deductible ($5000 family deductible=$5000; 100% coinsurance after that means your maximum out of pocket for the year cannot exceed the $5000 family deductible). With this plan the deductible can be met by one member of the family or by any combination of family members with claims totaling $5000.

As you can see from an out of pocket stand point there is no comparison between a traditional PPO plan with copays and an HSA plan. The next thing to compare would be the premium. Current plan with Blue Cross the premium is $850/month. The above HSA plan premium for your family would be $433/month saving you $417/month ($5004/year) of which you could contribute all or a part of to a health savings account to use for your out of pocket expenses.

In this example if you deposited all of the premium savings to a HSA you would have enough in the first year to cover your total out of pocket exposure on the HSA 100 plan.

In summary by making this change you would be reducing the out of pocket exposure by several thousand dollars per year ($12,000) and using the same dollars you are currently spending on premiums to not only pay premiums but also pay your out of pocket expenses for several years to come.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

IQ Financial Group, llc. is a licensed insurance agency in the state of Arizona. We offer a complete selection of health insurance, term life insurance, disability insurance, long term care insurance and supplement plans to individuals, families, self-employed and small businesses throughout Arizona. We offer the best in Arizona Health Insurance.
© IQ Financial Group, llc.

Filed under Health insurance made simple, Premium Rate Increases · Tagged with affordable, Blue Cross Blue Shield, Chandler, claims, Gilbert, Glendale, Golden Rule Insurance Company, health, health care cost, health insurance, health savings account, health-care, healthcare, HSA, Insurance carrier, insurance premium, low cost, Mesa, Peoria, Phoenix, rate increase, Tempe, Tucson, United Healthcare, United HealthOne, value

Dave Ramsey: Must Have Insurance Plans

Posted by IQ HSA on September 25, 2009 · Leave a Comment

Steven Pettit, President of IQ Financial Group, is also Dave Ramsey’s Endorsed Provider for insurance in the State of Arizona.

Dave Ramsey is a best Selling author, host of the nationally syndicated Dave Ramsey Radio Show, host of The Dave Ramsey Show on Fox Business Network and syndicated columnist in more than 250 publications.

Dave recently responded to a question from a listener regarding what type of insurance he would recommend you have and which he would recommend you stay away from. Read Dave’s response here, you can also sign up to receive his monthly newsletter while there.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

Filed under Why Work With IQ HSA? · Tagged with Arizona, dave ramsey, dave ramsey show, fox business network, health, health insurance, health savings account, health-care, HSA, value

Wall Street Journal Side By Side Comparison Of Health Care Reform Proposals

Posted by IQ HSA on September 23, 2009 · Leave a Comment

In an effort to keep you informed on the health care debate we are providing a link to a side-by-side comparison recently published by the Wall Street Journal. The comparison illustrates the major health care proposals currently being debated in Congress and by President Barack Obama.

Access the comparison by clicking here.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

Filed under Health Care Reform · Tagged with affordable, Arizona, government healthcare, health care cost, health insurance, health savings account, health-care, HSA, IRS, Medicare, reform, single payor, value, Wall Street Journal

Kneale: Save ObamaCare – By Killing It

Posted by IQ HSA on September 22, 2009 · Leave a Comment

Published: Monday, 21 Sep 2009 | 12:41 PM ET

President Obama’s health-care revolution is dying before it hits the House floor. Now killing Obamacare is key to saving any semblance of health-care reform.

Instead of whipping this dead horse, the Obama Posse should wage a broad retreat and return with a spare, stripped-down, less-is-more plan.

Especially worrisome for the rookie in the White House, this ailing health plan has ignited a far broader and higher-stakes fight over how much government we really want, and what kind.

Do you really want the feds forcing you to buy insurance and taxing your family almost $4,000 a year if you refuse or decide you can’t afford it?

That’s what happens when health coverage–a personal responsibility of each of us–is transformed into an obligation of government, which now supposedly must provide it for all of us.

We simply can’t afford it. Rather than aim at all 300 million of us, an ObamaLite overhaul should narrow the target to two groups:

First: The 15 million or so Americans who are the Truly Uninsured: they want coverage, can’t afford it and don’t qualify for government help. So let’s give them some help.

Second: the 12 million who buy individual freelance policies rather than get coverage on the job. They need easy online access to a newly formed marketplace with interstate competition among the nation’s 1,300 private insurers.

Wait a minute–we have 46 million uninsured, based on the latest U.S. Census data. Why help only that first one-third? Because, among all the uninsured, one-third are people who could afford insurance but elect to take the risk of going bare.

Which is their right–until Bam & Co. take it away as the Baucus bill would do.

Another one-third of the uninsured already qualify for government help a la Medicare (for the aged) or Medicaid (for the poor). They just haven’t signed up because they’re too proud, lazy or clueless–or they are illegal aliens.

This scandalizes Democrats, the notion that two-thirds of the uninsured are partially at fault for their own going-bare status.

The other night, two liberal Democratic congressmen, Anthony Weiner of New York and Robert Andrews of New Jersey, accused me of passing along bogus statistics on this score.

They called the figures “hearsay” and “made-up.” But it turns out the figures come from Congress’s own non-partisan Congressional Research Service. Take a look at how Rep. Andrews responded (in the video); suffice it to say he refused to apologize.

It would be one thing if Obamacare’s universal, mandatory coverage would actually lower health costs. But it won’t. Covering more people will simply result in higher costs for more drugs, more devices, more surgeries and more visits to the doctor and the hospital.

That’s why the less-is-more plan should hold sway.

After narrowing Obamacare at the start to just the Truly Uninsured–the 15 million lower-income folks who want coverage but don’t qualify for government help-we also should make them pay some portion from their own wallets.

For them, Obamacare could cover, free of charge, catastrophic care and chronic care (for five often preventable diseases that pose over half of all costs: cancer, diabetes, heart disease, stroke and pulmonary disease).

That “doughnut” would leave recipients to cover the hole in the middle: regular doctor visits for routine ailments and maintenance.

One big cost problem we already have is a function of too much insurance.

Some 50% of all healthcare costs already are paid by government. Employer health plans cover the other biggest chunk. And only a sliver of the total cost is paid directly out of our own pockets.

If that personal portion went up, only then would we behave as tougher, smarter shoppers and worry more about keeping our own expenses down.
© 2009 CNBC.com

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

Filed under Health Care Reform · Tagged with affordable, Arizona, cnbc, consumer, dennis kneale, employee benefits, government healthcare, health care cost, health insurance, health savings account, health-care, healthcare, HSA, Insurance carrier, low cost, Major medical, Medicare, reform, Self employed, value

Arizona Department Of Economic Security (DES)

Posted by IQ HSA on September 22, 2009 · Leave a Comment

The Arizona Department of Economic Security (DES) in coordination with Arizona Health Care Cost Containment System (AHCCCS) offers several programs to assist individuals and families in Arizona with their healthcare needs. Click to be directed to AZDES.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

Filed under Arizona Health Resources · Tagged with Aetna, affordable, AHCCCS, Arizona, Chandler, containment, department, Department Economic Security, Economic, Gilbert, Glendale, government healthcare, health, health care cost, health insurance, health-care, healthcare, information, Insurance carrier, insurance premium, low cost, Major medical, Medicare, Mesa, Peoria, Phoenix, Security, system, Tempe, Tucson, value

Arizona Department Of Insurance

Posted by IQ HSA on September 22, 2009 · Leave a Comment

The mission of the Arizona Department of Insurance is to faithfully execute the state insurance laws in a manner that protects insurance consumers and encourages economic development. Click to be directed to AZDOI.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

Filed under Arizona Health Resources · Tagged with Aetna, affordable, AHCCCS, Arizona, Assurant, Blue Cross Blue Shield, Chandler, Cigna, claims, consumer, containment, department, Gilbert, Glendale, Golden Rule Insurance Company, health, health care cost, health insurance, health savings account, health-care, healthcare, Healthnet of Arizona, HSA, Humana, information, insurance, Insurance carrier, insurance premium, low cost, Major medical, Medical Savings Account, Medicare, Mesa, Peoria, Phoenix, rate increase, reform, Self employed, system, Tempe, Tucson, United Healthcare, value

Arizona Health Care Cost Containment System (AHCCCS)

Posted by IQ HSA on September 22, 2009 · Leave a Comment

Arizona Health Care Cost Containment System (AHCCCS) is Arizona’s Medicaid agency that offers health care programs to serve Arizona residents. Individuals must meet certain income and other requirements to obtain services. Click here for more information about AHCCCS.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you.

Filed under Arizona Health Resources · Tagged with affordable, AHCCCS, Arizona, care, Chandler, claims, consumer, containment, cost, Gilbert, Glendale, government healthcare, health, health care cost, health insurance, health-care, healthcare, information, Insurance carrier, insurance premium, IRS, low cost, Major medical, Medicare, Mesa, Peoria, Phoenix, prevention, rate increase, Self employed, system, Tempe, Tucson, value, wellness

WebMD Better Information. Better Health

Posted by IQ HSA on September 18, 2009 · Leave a Comment

WebMD provides valuable health information, tools for managing your health, and support to those who seek information. Click here to begin accessing information.

Get quotes for individual/family health insurance in Arizona here. Contact us today at 602-510-7507 to find out how an HSA can benefit you. IQ Financial Group, llc. is a licensed insurance agency in the state of Arizona. We offer a complete selection of health insurance, term life insurance, disability insurance, long term care insurance and supplement plans to individuals, families, self-employed and small businesses throughout Arizona. We offer the best in Arizona Health Insurance.

Filed under Health Savings Account Consumer Tools · Tagged with affordable, Arizona, claims, consumer, government healthcare, health, health care cost, health insurance, health savings account, health-care, healthcare, HSA, information, insurance premium, low cost, Medicare, Phoenix, prevention, rate increase, reform, single payor, Tucson, value, Webmd, wellness