Data shows that voluntary benefits have gained popularity across the country as more employees take on the financial responsibility for their health care through high deductible plans. The Midwest is leading the pack in HDHP (high deductible health plans) and voluntary benefits. 67% of employers in the Midwest offer HDHPs and more than 42% of the employees are electing these plans. This speaks for itself. It works.

What this combination does for the employee is this: The whole mentality for carrying health insurance is to get well and stay well. And protect yourself from the financial loss of a serious illness or a serious injury. The gap in these two scenarios is what I call our small illnesses and injuries such as seasonal sinus infections, slip/fall, things of this nature.

Those items, when you carry a high deductible plan, become yours to pay. Here’s how to manage your dollars in that “gap”: First, please take advantage of the FREE preventive and wellness exams including, your screenings, once each calendar year. This creates a baseline for the providers to better serve you going forward and it also creates an awareness of where you are with your general health. You can feel like a million dollars and still have an issue. By educating yourself and being responsible, a lot of things that happen to us can be prevented and/or managed, saving us dollars.

An HSA account (health savings account) allows one to make a tax-deductible contribution to an HSA account each year. So, for all your healthy years, you are taking care of your health through your preventive measure, saving some money for the “what-ifs” and enjoying a tax deduction at the same time. When you have something happen to you that is substantial in the way of an illness, you will be able to take care of this gap. This lowers your premium. By lowering your premium on the health insurance, it allows you to consider disability income, life insurance, and other ancillary coverages, that may otherwise be out of the question.

There has been a 138% increase in participation in HAS accounts in the Midwest. The highest average employee contribution in the country. Congratulations.

Small business owners: please call me for a review. They’re free!

ACA insurer participation declines

As I read through many publications available to me as an independent broker in the insurance industry and as a member of many industry-related associations, I have come across some information known to the industry, but may not be known or understood by someone not in my industry.

ACA insurer participation declined by 24% in 2017. What does that mean to you? On a nationwide basis, a quarter of the insurance companies have declined to participate in the Affordable Care Act health insurance marketplace. When we look at Iowa, and we get upset and concerned about companies exiting the market, let it be known: there’s no bad guys here, it’s the nature of the industry’s response to the ACA. It merely is unaffordable. The intentions in the beginning were to ensure all people lower insurance costs, keep your own doctor, etc.

Approaching 8 years into this law, it has played out to be 180 degrees the opposite direction. The horrendous double digit increases in premiums and the reserves held by these companies (reserves are dictated by the governing authorities, whether that be federal or state) is still not substantial enough to offset the losses and remain solvent. For the betterment of millions, the companies are doing what they feel is the responsible thing to do for the betterment of everybody.

1 in 3 Millennials has turned down a job in part because of poor insurance offerings.

Many employers are focusing on the benefit offerings as well as competitive salaries to attract and retain quality employees. Small business is not mandated to provide anything now. However, I have encouraged small business owners to find room in the budget to offer their employees quality health insurance. I take into consideration the least compensated person and the highest compensated person when making my recommendations so as not to leave anybody out. Different ages will also dictate different needs, wants and ability to pay.

After a comprehensive review, I come back to the small business employer with a recommendation. I have been met with a 98% positive response. This ensures the employer is going to be sustainable as a small business by taking care of the people who make the business happen. If the employees are productive and happy, the Client-base will grow. It’s a win-win for everybody. Please give me a call, my consultations are free.

The insurance industry, business owners, leaders and health care providers need to know about the future of health care in Iowa. All have been faced with the changes and complexities of the  Affordable Care Act over the past seven years and the only thing that I can assure you is that the uncertainty continues.

Employer based health care insurance in the U.S. is how millions receive coverage and we see this as remaining the same going forward. With this being the case, employers are encouraged to manage this risk like they manage other risks that they have. We provide strategies for the cost-sharing of the members and tools that will help them become better custodians of their health care dollars and wellness options. Iowa employers will find that in an effort to become more competitive they will want to review their compensation package and offerings with health care as a major component. This is crucial to attract and retain quality employees.

With health care and health care insurance increasing at an unprecedented rate, it is difficult for businesses to afford benefits. As the industry continues to work to reduce excess waste out of the system, consumers need to become better stewards of their health and be more conscientious consumers.

Providers have databases that track patients’ lab results, confirm scheduled appointments, and encourage timely screenings and immunizations. The patients also have a responsibility and that is to adhere to the recommendations and treatment plans that the doctors provide. We will also provide information on health coaches that will work hand in hand with the patient to attain the outcomes and goals that they are seeking. This will result in a decreased use of medical services, pharmacy products and overall costs. The real advantage would be that you are healthier and feel
better. We can start by eating well and exercising, such as a walk every day.

If you are an employer, please feel free to ask me questions. All options are identified. I can assist you in making the prudent choices for your business and your employees.

I encourage individuals that will be affected by the loss of coverage on Dec. 31, 2017 to see me for recommendations.

As an experienced, independent agent I feel a tremendous obligation to help our fellow Iowans with free consultations. I pride myself in looking at a person’s entire situation; age, health, pharmacy needs, employment status, household income, etc., to find any and all options for consideration.

As we go through the free assessment process, we learn about choices and the pros and cons of each. They include employment options and benefits, as well as self-employment opportunities and possibilities for benefits. We also learn how we can manage health and pharmacy issues in a different or better way.

At the end of our assessment, we find a way to help most of the people that cross our desk. I recommend good independent, unbiased sources of quality information. I continually provide timely articles well worth your time. We also have lists of persons from difference industries that could be a tremendous help to your health and your finances.

As we go into the third quarter of the year, it is a very good time to schedule a consultation. This will give you ample time to consider your options in a timely enough manner for a seamless transition. Planning is the key to a best outcome. I see fourth quarter as being an unusually busy time of the year with the recent changes.

Whether you are an individual or a business owner/leader, please call us for an appointment. We will help you research different solutions to your health insurance strategy.

Feel free to visit our site at www.searsinsurance.info – you will be able to see our blogs, newsletters and posts. You can see testimonials and other products that we can help you with.

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Debra Sears
Sears Insurance, Inc.
515-285-6766
Email: searsdebra@aol.com
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There have been many studies done on member satisfaction with their health insurance as a piece of the ongoing and intricate puzzle of our health care system.

JD Power has released a member plan study that shows some of the most important things to the consumer.

One of the things that we feel is essential for anybody that entrusts us with their money and their health care coverage is that they have someone they can talk to that can put the insurance jargon in terms that makes sense that applies to their personal situations.

Whether you are an individual or a business owner, when it comes to our health and our money, the questions can look very similar. The coverages, however, are different.

At Sears Insurance, we pride ourselves on integrity, honesty and just being there when you need us the most. As our national health insurance reform continues to take shape, consumers need an agent more now than ever. There is a huge difference between buying your coverage from a big box insurance brokerage and an independent agent. Sometimes the price tags determined by the State Insurance Department and the Insurance carriers are the same, but the values are miles apart.

Please call us for your free one-on-one consultation to identify your options.