Employers and Medicare: Creating a Win-Win

Employers and Medicare: Creating A Win-Win” is a unique, online Audio Visual educational seminar designed for Employers to help them understand Medicare and how Medicare contrasts with their group medical program.  The education seminar is on the website, www.turning65seminar.com, which features several other Medicare Audio Visual educational seminars.  All the seminars are available 24/7 on demand and for free.  The website was created by Beta Benefits Insurance Services,Santa Ana, to help Medicare eligible members understand the Medicare Program.

The “Employers and Medicare: Creating A Win-Win” online seminar  includes information which helps Employers deal with the trend where more of their employees work beyond age 65.  The seminar helps both the Employer and employee compare Medicare with group medical benefits and premiums.   

 “Employers and Medicare: Creating A Win-Win” aids Employers to understand how their group health benefits compare with Medicare benefits.   For example the educational seminar  outlines how Employers can save from $300 to over $1,000 a month when just one of their Medicare eligible employees leave the group medical plan for Medicare. 

 Employees that migrate from their group health plan to Medicare often save money.  Savings are achieved from the employee’s contribution to their group health plan premium and from the deductibles, coinsurance and copayments they must cover when using their group health plan.  Medicare Advantage plans often have smaller copayments and reduced annual maximum out of pocket costs with either a low or no monthly premium.

 According to Phil Calhoun, developer of the module and Partner of Beta Benefits, “Until this website, there was no Internet Audio Visual source for Medicare education.  Our first modules focused on helping individuals understand Medicare basics.   With this new “Employers and Medicare: Creating A Win-Win”  module, the focus is on helping Employers as most either don’t have the time to find out or are unable to find information specific to an Employer.”    

 The timing for the new module fits well with the growing number of Baby Boomers aging into Medicare. With many Boomers still working, Employers will continue to face the significant financial impact on their business due to increasing group health premiums as employees advanced ages creates more claims than younger employers and cause higher premium increases.  

 Phil Calhoun explains, “Our goal is to help business owners and their advisors benefit from this information.  To supplement the website module, we also offer onsite “Lunch and Learn”  Medicare education and counseling for the Employer and their employees.”

 Beta Benefits offers free Medicare educational seminars at several southern Californiahospitals; the seminars are open to all members of the community.  The class listing is available on www.Deals4Boomers.com or contact Beta Benefits.

 Contact Phil Calhoun 800-500-9799  ext. 226  phil@betabenefits.com

Risk Retention Groups

A Risk Retention Group (RRG) is a company licensed to sell medical liability insurance coverage only to doctor members. Most RRGs are doctor member focused with a duty to provide the lowest cost medical malpractice insurance to members in a financially stable environment. RRGs were formed years ago in state where insurance offered by primary carriers like Medical Protective and other became too price prohibitive. RRGs evolved to become a cost-effective solution to doctors in any state whom look to find a more economical way to buy insurance.

Most, but not all, RRGs are member focused with a goal to minimize premiums for doctors and not to increase profits for shareholders/ For the standard insurance carriers, the normal profit is 20% to 30% so when you remove the profit from the premium the typical savings is 20% or more a year on a annual premiums for doctor members.

RRGs are able to look at deductible options not available through standard insurance companies. Depending on the deductible, the coverage and claim potential, a RRG is able to reduce premiums as much as 50% in some cases.

Finding the right RRG is made easier with the help of a broker that can explain how they work and what your savings would be.

To learn more contact Phil Calhoun at 1.800.500.9799 x 226.

Healthcare Reform/Affordable Care Act (ACA) Update

We all know by now that several parts of Reform/ACA have been implemented and key components have yet to be implemented.  The very basis of the mandate that all individuals will have “insurance” is under significant pressure.

Changes Implemented:

  1.  No lifetime limit on covered services
  2. Children of covered employees may be on the parents coverage up to age 26
  3. All medically covered persons regardless of the medical unsurance plan can access a zero cost annual wellness exam when using an in network provider which includes screening for various conditions and lab work
  4. Women have access to an OB/GYN as their primary care physician
  5. Pre-existing condition exclusion is eliminated for children under age 19

Items to be implemented

 Clinical Trails

The new coverage requirements for approved clinical trials are listed below and are going to be effective January 1, 2014.  Group health plans and health insurance issuers offering group or individual health insurance coverage may not:

  1. Deny “qualified individuals” participation in certain “approved clinical trials”
  2. Deny the coverage of  ”routine patient costs” furnished in connection with the clinical trials or discriminate against the individual on the basis of the individuals’ participation in such trials

Employers Penalties

Turning65seminar.com

Physicians Have A Great Tool For Pre-Medicare Patients

Turning65seminar.com

Baby Boomers are aging into Medicare and over the next several years more patients will need to learn about Medicare in order to make decisions about when to join and what options they should consider in this decision.

More people are visiting Turning65Seminar.com to learn more about Medicare

Physicians and hospitals are also seeing the value in linking to this site so their patients can learn more and make informed decisions about Medicare.

The seminar addresses key questions such as:

When to join Medicare?

How to join?

What is covered?

How do I fill in the gaps Medicare leaves open that I pay for?

For those that want to speak with a trained and certified representative have that option as well.

Physicians can add the site as a link on their website or send the link to patients turning 65.  Most physicians then inform us which plans and carriers they are contracted with so we put this into our system and make certain when their patients call that we enroll only into plans that enable them to stay with their physician.  

More information is available at 800-500-9799 ext. 226

 Posted 7/29/11