by Phil Micali, CEO, bWell-informed
This week we saw the CEOs of the Big 3 automakers embarrass themselves with their tin cups in hand on Capitol Hill after flying into Washington on expensive private jets.
The American automakers have two major problems: they don't make competitive products, at least in the US market, and they have let too much health insurance coverage instill negative behaviors in their workers and associated families. Management and unions of the Big 3 have done well to provide health insurance coverage to attract loyal workers, however they have jeopardized our entire economy by allowing that coverage to foster unhealthy personal habits of the same workers and other beneficiaries. Costs have escalated more than any other service or product in our economy. Companies and individuals have lost their competitiveness because of it. Bailout mania is scaring the living daylights out of experts and the common folk. Our sorry state of health coverage and cost of health care is to blame.
Those unhealthy habits may explain why the automakers do not produce cars that consumers demand, like greener cars, smaller cars, longer lasting cars, cars that offer more value. So here we are again on this blog tying health movement with the green movement. It's a virtuous circle (a good one) when green industries and products grow, which produce a healthier environment and people within. A healthier workforce is more likely to produce greener industries and products. Few would argue that this is what makes sense for improving our daily lives and longterm prospects as a person, a family, a nation, and a global community.
With Citigroup announcing 53,000 job cuts this week, and more to come, it is clear lots of people will be looking to learn about something they often take for granted - health insurance. Not only will they become more sensitive to the premium to get health insurance, they will soon learn that in order to afford the premium and the protection against catastrophic, the costs of what they have been demanding in the way of illness care would be better spent on an ounces of prevention.
Health insurance for people that have it needs to be rightsized. For those that don't have it, coverage needs to be provided, either through personal means of paying the premium or eligible private or public programs subsidizing it.
More than any $700 billion dollar bailout, or what is yet to be decided in early December on an additional automaker bailout, universal coverage and prudent spending within and focus on prevention will leave the word bailout less iterated in our daily lexicon.
Friday, November 21, 2008
Tuesday, November 18, 2008
Once the income’s gone: health insurance options after a layoff
by Elena Skoura, Graduate Intern, bWell-informed
“My husband's just lost his job and with it our health care benefits.”
In challenging times like these, quotes like the above are becoming increasingly common. But even if they’re not unusual, each and everyone hide a personal or family drama for those who find themselves out of work. One of the biggest causes of drama after a job loss is the uncertainty of losing health care coverage for the employee and his/her family.
The decisions that the newly unemployed must face are not easy emotionally or financially. Those lucky enough to have a coverage option through a family member or spouse still have to act quickly—the terminated employee must apply for insurance through their family member’s insurance within a month of losing the old coverage or the option may no longer be available.
Less frequently, unemployed individuals may find insurance through a trade group or even their church. But such alternatives are usually much more expensive, even though the coverage may be substantially less. Individual policies usually do not include coverage for pre-existing conditions.
The most attractive alternative for many recently laid-off workers is often COBRA. COBRA stands for the Consolidated Omnibus Budget Reconciliation Act, a policy that extends the same group health benefits to former employees for up to 18 months after a layoff. Businesses with over 20 employees must offer a COBRA option; for smaller businesses, state laws may provide similar options.
To be eligible for COBRA, the individual must have been enrolled in the employer’s health plan, which must continue to be active for current employees. An unemployed individual can apply for COBRA once he or she has experienced a “qualifying event” resulting in the loss of health care coverage—including voluntary or involuntary termination of employment for reasons other than misconduct or reduction in the number of hours of employment.
If the individual needs to extend his 18-month COBRA coverage for a longer period of time, he must prove that he has become disabled within the first 60 days of COBRA and send the plan a letter from the Social Security confirming this fact.
COBRA can be a good alternative, especially for those undergoing a medical treatment. However, it can also be very expensive. While employed, the individual typically has to pay only a fraction of their health insurance premium costs, with the employer picking up the rest. Under COBRA, they must pay the entire premium, which can be hundreds per month for an individual, and even thousands for a family.
The options for health coverage after a layoff are few and unappealing. That is probably the main reason why, out of the 2 million people who lose their job every month, 90% average at least a month without any health coverage.
Even though the short term financial implications can be grave, the longer-term threat posed by the possibility of experiencing an expensive health complication when uninsured is worse. And the health implications from lack of health care may be the worst of all.
The bWell-informed Health Plan Forecaster has been designed to help individuals find affordable and appropriate health insurance coverage, whether they’re facing a job loss or simply do not have coverage available through their employer. Visit www.bwell-informed.com today for more information!
“My husband's just lost his job and with it our health care benefits.”
In challenging times like these, quotes like the above are becoming increasingly common. But even if they’re not unusual, each and everyone hide a personal or family drama for those who find themselves out of work. One of the biggest causes of drama after a job loss is the uncertainty of losing health care coverage for the employee and his/her family.
The decisions that the newly unemployed must face are not easy emotionally or financially. Those lucky enough to have a coverage option through a family member or spouse still have to act quickly—the terminated employee must apply for insurance through their family member’s insurance within a month of losing the old coverage or the option may no longer be available.
Less frequently, unemployed individuals may find insurance through a trade group or even their church. But such alternatives are usually much more expensive, even though the coverage may be substantially less. Individual policies usually do not include coverage for pre-existing conditions.
The most attractive alternative for many recently laid-off workers is often COBRA. COBRA stands for the Consolidated Omnibus Budget Reconciliation Act, a policy that extends the same group health benefits to former employees for up to 18 months after a layoff. Businesses with over 20 employees must offer a COBRA option; for smaller businesses, state laws may provide similar options.
To be eligible for COBRA, the individual must have been enrolled in the employer’s health plan, which must continue to be active for current employees. An unemployed individual can apply for COBRA once he or she has experienced a “qualifying event” resulting in the loss of health care coverage—including voluntary or involuntary termination of employment for reasons other than misconduct or reduction in the number of hours of employment.
If the individual needs to extend his 18-month COBRA coverage for a longer period of time, he must prove that he has become disabled within the first 60 days of COBRA and send the plan a letter from the Social Security confirming this fact.
COBRA can be a good alternative, especially for those undergoing a medical treatment. However, it can also be very expensive. While employed, the individual typically has to pay only a fraction of their health insurance premium costs, with the employer picking up the rest. Under COBRA, they must pay the entire premium, which can be hundreds per month for an individual, and even thousands for a family.
The options for health coverage after a layoff are few and unappealing. That is probably the main reason why, out of the 2 million people who lose their job every month, 90% average at least a month without any health coverage.
Even though the short term financial implications can be grave, the longer-term threat posed by the possibility of experiencing an expensive health complication when uninsured is worse. And the health implications from lack of health care may be the worst of all.
The bWell-informed Health Plan Forecaster has been designed to help individuals find affordable and appropriate health insurance coverage, whether they’re facing a job loss or simply do not have coverage available through their employer. Visit www.bwell-informed.com today for more information!
Monday, November 3, 2008
bWell-informed interviewed at Health 2.0 Conference in San Francisco
bWell International was excited to be a sponsor of the Health 2.0 conference in San Francisco this past October 22-23. CEO Philip Micali and CMO Mary Hobson attended the event, and were thrilled to engage with healthcare and tech industry leaders from around the country. Featured action-packed demos of new services and tools, the Health 2.0 conference was a powerful look at how new technologies are transforming the healthcare industry.
Phil Micali was interviewed by ICYou producer Rebecca Fox on the ground at Health 2.0:
The next Health 2.0 conference is being held in Boston April 22-23 and will be a joint conference with the Center for Information Therapy. The theme will be "The Great Debates on the Next Generation of U.S. Healthcare." We hope to see you there!
Phil Micali was interviewed by ICYou producer Rebecca Fox on the ground at Health 2.0:
The next Health 2.0 conference is being held in Boston April 22-23 and will be a joint conference with the Center for Information Therapy. The theme will be "The Great Debates on the Next Generation of U.S. Healthcare." We hope to see you there!
Subscribe to:
Posts (Atom)
