Wednesday, February 15, 2012

Health and Life Insurance in New Jersey

AC Forrest Insurance Group is now licensed and equipped to sell health and term life insurance in New Jersey. If you or someone you know in New Jersey needs health insurance on an individual basis or for a small business, we’ll be happy to help in any way we can. Along similar lines, we’ll be happy to quote term life insurance in New Jersey as well.

Thanks to reciprocal agreements between the insurance departments in most states, we are usually able to get set up to serve our clients where they are. In other words, often our licensing occurs when we develop a client base in a given state. (Thus we’re licensed in states like Pennsylvania, Illinois, Arizona, Texas, Kentucky, Tennessee, Alabama, and North Carolina, South Carolina, and Georgia. I may be missing a couple!) All that to say…. if you live in another state, we may well be able to work with you too!

But, as of today, we’re ready for those of you in the Garden State.

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Monday, February 13, 2012

Carolina Care Plan Lowering Premiums

Hot off the presses this morning is an announcement that Carolina Care Plan is actually lowering their rates between 2-9% for individual and small business plans in parts of South Carolina.  Yes, you can read that twice — rates are going DOWN effective April 1, but not for everyone. The rates will be factored into renewals for groups beginning April 1, and will obviously be in effect for new business on or after the same date.

In the Upstate, Greenville and Spartanburg Counties are unfortunately not seeing a decrease, but Anderson County will see a drop of around 6%. Aiken County will see rates drop around 7%, Greenwood County around 3%, and Newberry and Pickens Counties will see rates drop 2%. For a complete list contact us. If you’re interested in comparing Carolina Care Plan’s rates with your current carrier, AC Forrest will be happy to help!

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Monday, February 13, 2012

Changes to Coverage of Lipitor

If you take Lipitor, you’ll want to check with your insurance coverage to see if there are changes in how your prescription is covered. Because there are now generic versions of Lipitor available, such as atorvastatin, many health insurance companies are not covering Lipitor at the same copay level as they did previously. (In other words, with a generic available, the brand name drug has probably been put in a higher “tier” on your drug plan, meaning the copay is higher or that you could even be paying a percentage of the cost of the drug).

Don’t be alarmed, though. Generic drugs are a wonderful way to bring the price down for most people and open up greater access to drugs like Lipitor, which were previously difficult for people without a drug copay to afford. As with many other drugs, the generics are nearly identical. You’ll want to check on changes to your drug benefit and then talk to your doctor about the new generic alternative.

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Thursday, February 9, 2012

Are there plans that could help me meet my high deductible?

“I have a high deductible health plan at work. Are there any plans that cover all or some of that deductible?”

This is an increasingly common question today, as more and more employer-sponsored group health insurance plans (especially with small businesses) switch to higher deductible health insurance plans due to rising premium costs. Another way we might phrase the question: How can I supplement my high deductible health insurance plan?

The good news is that there are a few options you can consider if you’re concerned about having to meet a $5 or $10k deductible (or whatever):

* You could opt to enroll in a “limited benefit” insurance plan that pays a fixed benefit amount for certain claims. For example, it might pay $250 per day for a hospital confinement, $50 for a doctor visit, that sort of thing. There is typically a surgical schedule that would help with the cost of surgical procedures, etc. This would be the most comprehensive option for you, but the most expensive one as well – the cost here would vary by age, but could be anywhere from $75 – $200/month depending on certain variables. Here’s a link to learn more and/or get a quote.

Or you could supplement the group plan with a one or more of these less comprehensive benefits:

* An accident plan. For $35/month you could have family coverage that would give you a $2500 cash benefit if someone was hurt as the result of some kind of accident (falling off a ladder, whatever). Or you could choose a $5000 benefit for $45/month.
Here’s a link to learn more, get a quote, and enroll.

* A cancer or critical illness plan that would pay a lump sum benefit (typically $10k or higher) if you were diagnosed with cancer, had a heart attack, or some other calamitous health event.

* A “hospital cash” plan that pays a fixed amount if you’re admitted to a hospital.

The last two options are available here. (Click on the “financial protection plans” link to the far right).

As always, feel free to contact us if you have questions or want more information.

Posted by Alex Forrest | No Comments

Tuesday, January 24, 2012

Mint.Com helps you figure out insurance

The folks at Mint.com have put together a helpful flow chart designed to help you figure out your insurance needs. There are some obvious answers – i.e. if you own a car you have to insure it. There are some silly points where they discuss whether or not you need to insure your fingers (answer: only if you’re a hand model or concert pianist). They also discuss health insurance and various types of life insurance in a pretty helpful manner. The only really glaring omission, form our perspective, is that they don’t discuss whether or not you need to insure your income (or, more correctly, your ability to earn an income), which would address disability insurance.

Anyway, check it out and then contact us to talk about it!

Posted by Alex Forrest | No Comments

Tuesday, January 17, 2012

Can adult children use their parents’ HSA?

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Monday, January 9, 2012

Google Places

If you think we’re pretty swell, would you mind saying so? If you’ve had a good experience with AC Forrest Insurance Group, we’d really appreciate it if you let others know on our Google Places page or by giving us the thumbs up on Facebook.

Thanks!

Posted by Alex Forrest | No Comments

Thursday, January 5, 2012

Is a colonoscopy covered by my health insurance plan? Is it a preventative care benefit?

Many people are aware that preventative care is now covered with no cost sharing (this is insurance-speak for “FREE”) on all health insurance plans purchased after the PPACA (this is code for what is commonly called “health reform act” or “Obamacare,” depending on your politics) went into effect in the spring of 2010. And most people understand that this includes an annual physical, an annual OBGYN visit for women, vaccines for kids, and mammograms for women over 40. But what about a colonoscopy?

It comes up a lot because it’s something that people of a certain age need to do, and it is seriously expensive. Like over $2,000.

While there’s a temptation to crack jokes, the question is legit. Is a colonoscopy paid for by your insurance as part of preventative care. The answer is yes, BUTT (my inner-7th grader can’t help that…) there is an important qualifier. With most insurance companies, if a screening turns into something more diagnostic or corrective, you could be liable for a lot of the charges.

In other words, if something (like a polyp) is found and removed, you could wind up paying for it because the procedure is no longer considered preventative. The key to this (in fact, the key to so much of any insurance claim) is the medical coding — how that procedure is coded by the medical provider’s office and submitted to the insurance company.

The bottom line (there I go again), is that if you’re over 50 you need to get this done. If nothing is found, you shouldn’t pay for it. If something is found, it’ll be worth the money you wind up paying to get it taken care of, and it will count towards your deductible for the year too.

Posted by Alex Forrest | No Comments

Tuesday, January 3, 2012

I’m not a very good salesman, but you might be OK with that

I’m really not a very good salesman. I don’t like to make “cold calls” to reach “prospects” who have never heard of me and may or may not be interested in how I can help them. I’m not particularly exuberant and effusive about insurance products (but – seriously – who is?). I’ve been to a lot of seminars about sales and heard a lot of great tips and tricks, but I defy many of them and, frankly, am not into “tricks” when it comes to working with clients.

For example, I have a bad habit of sometimes talking clients out of purchasing a product or policy that they don’t really need. That’s not how you’re taught to sell! I also have a penchant for trying to help my clients lower their health insurance premiums, and often try to persuade people to buy higher deductible insurance plans that lower their premiums. But, as it turns out, when it comes to an individual health insurance policy, insurance agents/brokers are paid a percentage of that premium, so I guess I ought to be motivated to talk you into spending as much money as possible. For that matter, I’ve even told people to keep the policy they have instead of the one I can sell them.

I’ve heard a couple of presentations on “Overcoming objections.” These presentations try to teach you how to talk somebody into buying something they may not be ready to buy. Some objections are admittedly silly attempts at procrastination, but many are legit. One of the popular ones they talk about is the “I need to talk it over with my spouse” objection. I’ve heard this draw sneers and jeers in these sales presentations. The thing is – I think it’s totally legitimate. I wouldn’t make a major financial decision without consulting my wife, and she wouldn’t do it without me. So I don’t try to work a smooth one-liner to to shimmy past that objection. I’m more interested in your trust and in a long-term relationship than I am in the “one call close!” techniques.

And that, ultimately, is why I think many of our clients are just fine with working with an insurance guy who isn’t a particularly good salesman. They don’t want someone who pushes and rushes them to a decision. They don’t want someone who’s more focused on a commission and a “closing” than a relationship. I suppose you could say they want a consultant or an adviser more than they want a salesman. (Heck, that’s what I want when I’m interested in a purchase however great or small).

If you feel the same way, maybe we can talk and see if you’d like to work with us too.

Posted by Alex Forrest | No Comments

Wednesday, December 21, 2011

Pharmacy App for Carolina Care Plan Members

For customers of Carolina Care Plan, you might be interested to learn a bit about a new pharmacy app available in both the Apple and Android app store. From the release:

“Earlier this year, Medco Health Solutions, Inc. (Medco) released its Medco Pharmacy® app for smartphones to help members and their providers look for lower-cost options for their prescription drugs. The app is designed to boost medication adherence, help members make informed decisions, improve careand save money.

The Medco Pharmacy app is updated with real-time information and is personalized with a member’s
specific prescription drug benefit information and history. It includes:

• My Rx Choices® – Members see lower-cost options available through their specific prescription drug benefit, helping them make informed decisions with their providers while still in the exam room. Coverage review information is available, as well as a drug interaction checker to notify the member if taking a specific prescription drug may interact with other medications the member is taking.
• My Medicine Cabinet – Members get an easy tool to help them manage the array of instructions that come with multiple prescriptions. Members can set reminders through the app so they never miss a dose or refill, and their medication history is also loaded and updated automatically.
• Pharmacy Care Alerts – Registered users will receive safety alerts about any potential risks with the prescription drugs they are taking. (Added December 2011.)
• Prescription Refills/Renewals – All users who have prescriptions filled through the Medco Pharmacy mail-order service will be able to refill and renew prescriptions directly from their smartphones. (Added December 2011.)”

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