The IRS has published the new limits for Health Saving Accounts for 2012. The IRS makes annual adjustments to the minimum deductible, maximum out-of-pocket (OOP) limits, and HSA contribution maximums based on inflation. These changes affect Health Saving Accounts (HSA) and High Deductible Health Plans (HDHP). The minimum deductible for 2012 is the same as [...]
Archive for June, 2011
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Generic versus Brand Name Drugs
Posted by larry on June 13th, 2011
Approximately 64% of all prescriptions in the US are filled with generic drugs. Generic drugs have the same active ingredients as brand name drugs. The dosage is the same. They do the same thing as the band name drug. Generic drugs have the same side effects as the brand name drug. Some people think that [...]
Tags: Required Coverage in Texas
Posted by larry on June 13th, 2011
Why do health insurance policies in Texas cost more than in many other states? The answer is the Texas Department of Insurance (TDI) requires that health insurance companies licensed in Texas provide “more benefits” than in any other state. These required benefits are called “state mandates“. The more benefits you receive, the more you have to [...]
Is there a limit on prescription drug benefits?
Posted by admin on June 13th, 2011
As a result of the passage of the Affordable Care Act on March 23, 2010, health insurance companies have removed any annual maximum on prescription drug coverage. This is good news for consumers who have to spend thousands of dollars per year on prescriptions. In the past it was possible to reach the prescription drug benefit maximum [...]
What Are Preventive Services?
Posted by admin on June 13th, 2011
As a result of the passage of the Affordable Care Act, insurance policies issued after 9-23-2010 include most preventative services as covered services. These covered preventative services must be provided at no out of pocket costs to the consumer and without a waiting period. Preventative services such as annual physicals, routine mammograms, PAP smears, and PSA tests are now [...]
Pre-Existing Condition Usage
Posted by larry on June 10th, 2011
Earlier this week Health and Human Services (HHS) secretary Kathleen Sebelius announced that enrollment in the government’s Pre-Existing Condition Insurance Plan (PCIP) had reached 18,000. Kathleen Sebelius had expected enrollment to be over 300,000. HHS missed by a factor of 16. They now believe that people with pre-existing conditions cannot afford to pay the PCIP [...]
