May 2010

 
Medicare Advantage Plans to Continue Despite Loss of $136 Billion in Subsidies

Bloomberg News reported that Medicare Advantage plans "may survive losing $136 billion in government subsidies under President Barack Obama's health care law".  UnitedHealth Group CEO Stephen Hemsley told analysts that "reduced payments won't keep the company's products from competing with Medicare insurance offered directly from the government."  Bloomberg added, "While the Advantage cuts in the final law aren't as deep as earlier proposals, the industry's trade group says the reductions will hurt."  Yet, noting that HHS Secretary Kathleen Sebelius  held an online chat with AARP President Jennie Chin Hansen and government officials, Bloomberg reported "One person who submitted a question for the chat asked about a rumor that Medicare Advantage would disappear by 2014.  "That is simply not true," replied Center for Medicare Management Director Jonathan Blum.  

Excerpt taken from Bloomberg News, April 23, 2010.

Government Long-term plan falls short 

The new health-care-reform law contains many surprises, and one of them is a new, voluntary long-term-care-insurance program. Starting next year, employees of companies that choose to participate will be automatically enrolled in the Community Living Assistance Services and Supports Act (although they can opt out) and pay for it through payroll deductions. Other workers and the self-employed will be able to enroll on their own. Retirees are not eligible.

But don't give up a long-term-care policy you already own or decide not to buy one because you think you'll have enough coverage from the federal plan. For most people, this CLASS Act barely gets a passing grade.

Skimpy benefits. You would have to pay premiums for a minimum of five years before you would be eligible for a cash benefit of about $50 a day. To receive benefits, you'd have to be unable to perform two or three activities of daily living (the exact number is still being determined), such as walking, bathing or dressing, or be cognitively impaired. But that daily benefit would fall far short of covering the actual cost of long-term care -- which currently averages $219 per day in a nursing home, or $168 for eight hours of care by a home health aide.

The Department of Health and Human Services hasn't set the premiums yet, but the American Academy of Actuaries estimates that they could average as much as $125 to $160 per month (or as little as $5 a month for those below the poverty line). The high-end estimate is about the price of a private long-term-care policy for a fiftysomething but could provide only about one-third of the daily benefit amount.

On the positive side, you can't be rejected for coverage under the CLASS Act because of your health, so it could help people with medical conditions who don't qualify for private long-term-care insurance. And it does cover many services that aren't eligible for benefits under most long-term-care plans, including homemaker services, home modifications and transportation.

Taken from the Kiplinger Personal Finance Magazine.

Disability Awareness Month

If you become sick or hurt and unable to work, how long could you make it without a paycheck? If you stop and think about the expenses you have every month, you'll find that without a paycheck, meeting these responsibilities would be nearly impossible.   To find out more about Disability Income insurance, go to www.diawareness.com  or call our offices at 1-800-553-6676.

MEDICAL NEWS                          

May is Stroke Awareness Month 

Stroke Risk Factors

Am I at risk for a stroke?

Anyone can have a stroke no matter your age, race or gender. But, the chances of having a stroke increase if a person has certain risk factors, or criteria that can cause a stroke. The good news is that up to 80 percent of strokes can be prevented, and the best way to protect yourself and loved ones from stroke is to understand personal risk and how to manage it.

There are 2 types of risk factors for stroke: controllable and uncontrollable. Controllable risk factors generally fall into two categories: lifestyle risk factors or medical risk factors. Lifestyle risk factors can often be changed, while medical risk factors can usually be treated. Both types can be managed best by working with a doctor, who can prescribe medications and advise on how to adopt a healthy lifestyle. Uncontrollable risk factors include being over age 55, being male, being African American, Hispanic or Asian/Pacific Islander, or having a family history of stroke or transient ischemic attack (TIA).

To become more familiar with your personal risk for stroke, National Stroke Association developed an easy-to-use tool called a Stroke Risk Scorecard. The Scorecard provides an idea of a person's stroke risk. Once the scorecard is completed, discuss the results with a doctor, who will help assess the risk factors and help manage and/or treat any controllable risk factors. Remember: It is important to always take medications as a doctor prescribes to stay on top of stroke prevention.

Stroke Symptoms include: 

SUDDEN numbness or weakness of face, arm or leg - especially on one side of the body.

SUDDEN confusion, trouble speaking or understanding.

SUDDEN trouble seeing in one or both eyes.

SUDDEN trouble walking, dizziness, loss of balance or coordination.

SUDDEN severe headache with no known cause.

Call 9-1-1 immediately if you have any of these symptoms
 
Note the time you experienced your first symptom. This information is important to your healthcare provider and can affect treatment decisions.

Excerpts taken from www.Stroke.org 

This medical section of our newsletter is not intended to give medical advice.  If you are experiencing physical symptoms, you need to consult with a physician.