lance cashion: remote control

Save by gettng creative with your health insurance

I've taken some time off from the ole blog... I'm back!

As you get older, your premiums are going to increase.  That is the truth.  There is no getting around it.  Don’t panic! 

Get creative! 

For instance, I had a 35 yr old young lady who is opening her own business and needed insurance (she was being dropped from her group and COBRA was too expensive).  Her budget was around $130 per month.   That can be a tough one.  The key is to get her on something to cover catastrophic events for a year or two, while she’s building her business.  Keeping in mind that her situation will eventually change and she’ll have a bigger budget for her health insurance. 

The plan of action:
1. We start looking at high deductible HSA (Health Savings Account qualified) plans
2. We hedge against accident with a $5000 Accident Benefit for $29.95/mo
3. We address her desire for physician consultations with a free CallMD benefit (included with the Accident Benefit)
4. We agree that a $5000 (100%) HSA is what she needs for now at $109.00/mo

The result is a hybrid of Health Insurance and essential risk hedges that provide security and protect against catastrophic health events that could jeopardize her finances.  I'm willing to bet that when she does have the extra budget for health insurance, she won't use it.  Why would she?  She got a solid plan to begin with ;)

Budget Target: $130/mo
Cost: $138.95/mo
Benefit: $5 Million in coverage, $5000 accident benefit, CallMD, $5000 Max out of pocket for illness, $250 out of pocket for Accident ($250 deductible on benefit).

We got within $8.95 of her budget and other agents were quoting her $250-$300!  How can a new small business owner with a budget of around $130/mo survive and thrive with premiums eating her budget.  I’ll tell you what happens with most folks, they end up dropping their health coverage to meet payroll, pay a vendor or deal with an emergency.  That is dangerous and there is NO need for it when you get creative! 

Lesson over for today!

Thanks for reading

Lance Cashion

Question Day: Tuesday July 27

Today is Question Day!

Every day, I get several emails, calls and messages from folks with various insurance questions. So, I've decided to dedicate a day to giving you answers to your questions. My goal is to build a reliable reference for the people I serve without sales pressure.

I will prove that I provide the BEST customer service in the insurance industry!  Even if you are not a customer, I'll treat you like one.

We're going to keep this simple. You can ask your questions the following ways:

1. Comment Below

2. Email Me

If you have questions that must be held in confidence (ie. pre-existing conditions, health history, etc), please email me. By law, I cannot share information given by clients without permission.

Here are the areas I'll be covering this week:

-Individual Health Insurance

-HSAs

-Term Life

-Medicare Supplements

Let's see how this works out.

Thanks in advance for being a part of the process!

What is your question?

The Hybrid Health Plan of Tomorrow (post-Obamacare)

I was just running some quotes for a client.  We all know that we're going to see some huge rate increases in the next 6 months (Obamacare).  That does not stop folks from needing health insurance.  As an agent, I am responsible for directing this process for my clients.  They depend on my to make the right decision for them.  The choice that makes sense and will protect & provide for them in a time of need.

Here is what I came up with for a 45 year old female in Texas (good health).  She is currently paying $350 and its going to increase over $400 in June.

• HSA Plan 75/25: $2500 Deductible = $192/mo
• SBA $5000 Accident Coverage = $29.95/mo
• $20,000 Lump Sum: Critical Illness/Long Term Disability/Life Benefit = $30/mo

Total: $251.95

I just saved her $149 per month and provided better coverage.  Not to mention, I served her need by protecting her on all fronts for a fraction of her current premium.  When rates increase in 6 months, she'll be better positioned to absorb the blow.

There you have it!  The method of insuring for the PO (Post-Obamacare) world. It is a hybrid combination of several products that provide protection and security.  I've been doing this for years... It was always one of many options... Tomorrow, it may be THE ONLY option.

It is just a matter of time before we start seeing $20K and $50K deductible health plans hit the market... you hear it here first.

Holler if you need help with this stuff!  If you are interested in work with a team dedicated to helping people with this stuff, holler.

Lance Cashion

American Health Underwriters

Intel: Lessons from MassCare and What We Can Expect

Well, it’s been nearly a month since my last blog entry.  I’ve been working with my team on the task of repositioning our organization in light of Healthcare Reform Legislation.  That said, I have posted an article below by Mark Gaunya who is the president of the Massachusetts Association of Health Underwriters (MAHU).He provides solid insight into what we can expect from Obamacare.

I think this quote from Mark sums it up; “Health Insurance is expensive because health CARE is expensive”.  The article explains that Obamacare is focused on symptoms of rising costs, not the disease.  Furthermore, I submit that this legislation misses the mark completely.  The question begs to be asked…  Is Healthcare Reform REALLY about lower costs OR is HealthCare Reform just an expansion of bureaucracy and Government power. Read more on Bureaucracy here.

Decide for yourself!

Article Link: Download Be Careful what you wish for, America-INN article.

The original article is from Insurance News Net Magazine

http://www.insurancenewsnetmagazine.com

Have a good day.

Lance Cashion

American Health Underwriters

Taking Care of Your People: The Art of the Referral pt 1

It feels good when a client sends family or friends to me for help with their health or life insurance.  What does it say about me and my work when this occurs?  It tells me that the work, product and service I provide matter.  Over the last several years, a brand has emerged around what I do and the service I provide.  This is not an accident.  When people in my network think “insurance” my face and name pop into their minds.  Many have Google or MSN set as their default homepage on their PCs.  My people have 'Lance Cashion' set as the default in their minds when it comes to insurance.  I’ve built a reputation for serving people and helping them navigate the sometimes expensive, always confusing world of insurance.

Staying in constant, but non-intrusive contact with my clients is essential in solidifying and growing my brand.  Here are a few things I do to keep this process going and growing.

Thank You Cards: I hand write one to each of my clients when their policy issues.  It is a short note in sincere gratitude for the trust they have given me and the commission that will feed my family.  I always include a couple business cards and a refrigerator magnet.  As of late, I have been including a $5 Starbucks gift card (insurance agents are limited by regulations of how much we can give to an applicant).  In the note, I always ask them to share my information with anyone who could use my service.  more here...

Birthdays: I record each of my clients and children’s birthdays into my Outlook Calendar.  I set a reminder 5 days before their birthday.  My clients will receive a card and email from me.  Their kids will receive a $10 iTunes gift card or an age appropriate gift card on their birthdays.  Have you ever received a call from one of your client’s kids thanking you for something?  I have!  In today’s world, who does this stuff?  I do.......  And it has made all the difference.

Referral Reward Program: I have set up a reward program for my clients who send customers my way.  It’s very basic and very effective.  Imagine sending your brother to me for insurance help and you get a $50 or $100 Gift card in the mail.  I don’t care how much money you have, this is effective!  I’ve now sent my client and their family to dinner or paid for groceries.  Again, I always send the gift card with a Thank You card and remind them that I am here to serve anyone they may know.

To be continued….

It’s taken me several years to develop a system where MY people know they are taken care of and want to share my service with the world.  At one point, I wanted to keep my system to myself.  Now, I see that by sharing it, I can have a positive effect on the world around me.  Send me a referral and see what happens!

See you next time and let me know if you have any questions.
 
Lance Cashion

Intel: Health Insurance Premiums Increasing in Six Months

Now is the time to purchase health insurance. 

Below is some information based on my research and some ideas that can help you and your family navigate this environment.

As you are well aware, on Sunday March 21, 2010 The United States Congress passed the Healthcare Reform Bill.  We are seeing positive effects of the legislation within the market.

In the short-term (6 months), we see a major catalyst on the horizon that our agents, current policyholders and prospective clients need to know about.  Individual Health Premiums are going to increase significantly in 6 months.  Some major factors for this increase include; the first wave of guarantee issue applicants joining current risk pools (children with pre-existing conditions), elimination of policy lifetime maximum amounts, and the requirement that all policies cover preventative care.  For families with children with pre-existing conditions, this portion of the legislation is a good idea.

What can you do, as the consumer to be proactive?

-Act with a sense of URGENCY! It is time to buy a health insurance plan that you and your family can stay on for several years without feeling the effects of these major increases.

-Buy Major Medical Plans and HSAs that have 24-36 month Rate Guarantees (for additional premium, you can lock your rate for up to 3 years)  Note: I have one insurer that offers an HSA with a 4 year fixed rate!

-Look at this as getting a discount on your health insurance.  Six months from now will be too late.

-If you have a child with a Pre-existing condition.  You may want move the rest of the family to a new plan now and leave the one child on your current plan.  The goal is to move your child with pre-ex to a guaranteed issue plan in 6 months.  This will save you money in the long run.

-Consider the HSA!  If you don't know about it, research it or ask me.

As you can see, actively engaging this process is the only way to go!  Hopefully this information is helpful.

Thanks

Lance Cashion

email here

Healthcare Reform Logic: Bureaucracy 2.0

Ok, I admit it.  I did not break for lunch a few days ago because I got into a political battle on my Facebook Wall.  I could not help myself.  Like I told a friend this week;  Aside from traditional media, social media is one of the only ways for folks (like me) to broadcast a message and have it get heard.  Of course the exchange was related to Healthcare Reform legislation.  I am completely against this monstrosity of a bill (for the record).  This is basically continuation of my previous post on Healthcare Reform Logic.

I’ve said it before and I’ll say it again. We DON’T have a Healthcare problem in America.  We have a Bureaucracy problem!  

Why should we give control and responsibility of our Healthcare to the government bureaucracy, when they can’t effectively solve the problems with Medicare and Social Security?  Again, this is not about healthcare, it’s about expansion of bureaucracy. Remember, bureaucracy only serves itself. Expecting it to behave counter to its nature is foolish.  Now, we're going to add the IRS to the mix? 

A friend asked me this question:

“Why does the "bureaucracy" (an organization made up of Americans like me and you, left and right...) get all your ire, yet private companies, with their profit-motivations, get a pass? "Profit" should not even be in the healthcare equation?”

My answer (posed as questions):

“If "Profit" should not be in the Healthcare equation, how should physicians, facilities, nurses, patient processing centers, etc be compensated? Do you work?
Do you accept a wage?  Does the company you work for make a profit?” 

If you don’t like profits, stop working and consuming things that cost money…. You will starve.  Again, we have a disconnect in logic, comprehension and common senses within the population.

Three things in this regard:

1. They don’t get it 

2. They are in complete denial 

3. They reject reality believing that will make reality irrelevant. 

Expanding the IRS is to police the American people (in the form of taxes, fees, etc) in regard to their health insurance is not the answer. It is, in fact the problem.  Bureaucracy is the reality.

"The Federal Government has its function but expansion into private healthcare is not one of them. It is like filling a fully-functional swimming pool with cement because you found a small crack at the bottom. Filling your pool with cement will fix the crack but your pool is rendered useless. Removing the cement is virtually impossible without expending massive effort (and in the case of a Bureaucracy, it knows this)." (from my blog)

Do you want a solution to the health insurance crisis?  (“Healthcare” is a misnomer) Here it is in shorthand:

1. Decouple employment from health insurance (this ain't 1940): abolish group insurance
2. Full portability (w/ pre-ex eligibility period 90 days)
3. Instead of paying an employee's premium, Employers invest the money into their employee's Health Savings Account....
4. Full Takeover of pre-ex by insurance companies (this was agreed on last year by insurance companies)
5. Require all Americans to have a basic plan in place (credits for those who can't afford it).  Create guidelines for those who desire to “self insure”
6. The Gov't acts as a re-insurer or the insurer of last resort. (Claims over $500K)
7. $5000 annual max limits on HSA account contributions-no lifetime max
8. Allow health premiums to be paid out of HSA accounts for up to 1 year (if laid off or unemployed).

The above are SOLUTIONS. The government is not looking for solutions. They are looking to expand, like any bureaucracy.  It must be fought and defeated in all forms!  Bureaucracy kills the human spirit, creativity, personal growth and freedom!  If you have questions about health insurance or need a sounding board?  Shoot me an email.

Thanks

Lance Cashion

Intel: Healthcare Reform Timeline (House Reconciliation Revision)

Here we go.  Below is a timeline for the current Healthcare Reform legislation (House Reconciliation Revision- Apr 1st enactment).  This gives the basics as we know them now.  For the record, I do not support this legislation.  I will save my opinions for a later time.

Link to Timeline document file (PDF): Download HC Reform Bill Timeline_6

Have a nice day

Lance Cashion

ps. If you have questions about health insurance or the effects of this reform on premiums, please feel free to email me.

tip of the day: open enrollment and your family

Don't get frustrated!  When your employer offers open enrollment in their group health insurance, it may be time to investigate options for the rest of your family.  If you have ever had group insurance, you know how expensive it can be to add your spouse and/or dependents. 

Employer-base health insurance is the most expensive form of health insurance in the world.

Many folks are not aware that individual health coverage is comparable to group insurance at a fraction of the cost.  At the end of the day, paying 4X the retail cost of a product is not economically responsible. 

Would you pay $35,000 for a car at one dealership, when you could buy the same exact car at the dealership across the street for $22,000?

Investigate options for your family.  Individual health insurance may be the solution you are looking for.  Note: If your spouse/child has a serious pre-existing condition, you may be left with only one alternative, group.  However, in most cases, you can buy a comprehensive individual policy.

If in doubt, ask me.

Lance Cashion

tip of the day: too late health insurance

Question: Can you wait until after you have a car crash to buy insurance to pay for the damage?

Answer: No

This goes the same for health insurance.  If you try to buy health insurance after you have a medical condition, it's too late.  That's why it's called "insurance".  You purchase it to cover risk before an event occurs. 

Get something in place.  Even a cheaper plan, you can always replace it with something more comprehensive later.

Remember Rights are Free, products cost money.  Insurance is a product, not a right.  Freedom of speech is a right, owning a house is not.

Good day to you.

Lance Cashion