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healthcare Archives - Steinlage Insurance Agency

Big retirement mistake: Boomers with no estate plan

By | Making the Most of your Medicare, Uncategorized, Understanding Health Care Reform | No Comments

Many Baby Boomers are neglecting a key part of their retirement plans — creating an estate plan. And while death is not a pleasant thing to think about, death without an estate plan can create havoc for your surviving family members, financial planners warn. “I think that on a list of things to do, it’s at the bottom, if it even makes the list,” says Nicole Hart, director of trusts and estates at Sontag Advisory, a New York-based wealth adviser. It’s important not to look at financial planning in a vacuum,” says Manhattan estate planning and elder care attorney Ann-Margaret Carrozza. “Estate planning is intertwined with the financial plan.” “If you are looking at Baby Boomers, they are looking at what their cash flow will be in retirement,” says Carol Kroch, managing director, wealth and philanthropic planning at Wilmington Trust in Wilmington, Del. “Can they do the things they want…

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Four signs it may be time to find a new Doc

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Ever feel like you are explaining something to your doctor that you feel is very important and they are not even fazed by your life threatening symptoms? Well, it may not be your imagination, they may truly be burnt out or suffering from exhaustion and depression. According to a new study in the journal Archives of Internal Medicine, half, that is right HALF of United States physicians experience symptoms of burnout! The four questions listed below can help you see whether your Medical Doctor should stay or go!  1. Does he or she pay attention? Body language can inform you if he or she is all there; looking up, nodding, and maintaining eye contact should all be done. No matter if the appointment is 7 minuets or 30 minuets, you should not feel rushed or feel your concerns do not matter. There is nothing better than going in for an appointment and…

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Healthcare reform and the Olympics share a common theme

By | Understanding Health Care Reform | No Comments

Starting in 2014, the Health Care Reform will roll out new plans with a simpler theme and easier to understand benefits.  Each offering will follow the Bronze, Silver, and Gold theme of the Olympics with one additional metal being the highest level, Platinum. Here is a breakdown: Bronze- Lowest monthly premium, on average should cover about 60% of a person’s total health costs. Silver – Still a low premium, should cover about 70% of a person’s total health costs. Gold – Higher premium, should cover about 80% of a person’s total health costs. Platinum – Highest premium, should cover about 90% of a person’s total health costs. While the metal designation is designed to identify different plans, it is important to note that this is just an outline.  Generally, bronze plans should have the lowest premium and platinum the highest, but prices and deductible amounts will vary widely.  Bronze plans…

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4 reasons health care costs continue to rise

By | Making the Most of your Medicare | No Comments

Health care costs and premiums go hand-in-hand it is a question asked hundreds of times: “Why are my health care premiums going up when I only went to the doctor once?”   A lot of people think their premiums increase only because they’ve used too many health care services — like what happens to your car insurance if you get too many speeding tickets. But that’s not how individual health plans work. Premium adjustments are based on age, location and — most importantly — the expected cost to pay members’ claims in the upcoming year. As that cost continues to go up, premiums go up. Even for people who don’t use a lot of health care services. The fact is that costs are rising rapidly within the whole health care system. By 2019, the U.S. will spend about $4.4 trillion on health care.1 Yes, trillion with a “t.” It’s hard to…

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Hospital billing changes with Medicare

By | Making the Most of your Medicare | No Comments

With Medicare looking to control costs, a controversial billing practice is on the rise.  Seniors who spend days at a hospital without actually being admitted can be left with thousands of bills to pay, which are not covered by insurance. In more and more instances, a person enters a hospital under “observation,” rather than being admitted.  This is true even when a person stays multiple nights in a hospital bed, receiving similar care to their neighbors, and for conditions such as a broken pelvis or chest pains.  Because this person is under observation, rather than being admitted, Medicare is able to pay hospitals far less for comparable treatment.  The trigger occurs because Medicare pays under Part A for someone admitted and Part B for someone under observation.  Part B payments have been substantially reduced in recent years.  Compounding this issue, Medicare is using a growing army of auditors who use…

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