Yes, I did read your response. Several times before I replied so I could make sure I had my facts straight. I also did research since I am not as familiar with health insurance.
Why don\’t you educate me on what a no cost sharing plan entails?
\”Non cost sharing are also called managed care plans, fully insured plans, and traditional health plans… they are all the same.\”
So essentially what I said is that traditional plans do not equal managed care plans do not equal no cost sharing plans do not equal fully insured plans. Not sure where you got your facts from but I went to a legitimate website for my research since I am not as familiar with all the health care plans out there.
Well, yes I do sell health insurance. And in NJ, I am considered an expert in HDHP and CDHPs.
When a insurance company offers a health plan with a large deductible, THEY call it a \”cost sharing plan.\” For example, a PPO with a 20/40 copay and 250 deductible would be called a \”PPO 20/40 ng\” the same plan with a 1500 deductible would be called \”PPOc 20/40 ng\” where the \”c\” stands for cost sharing. (I choose PPO for this example because they are all non-gated.)
In my posts I refer to plans without a high deductible as non cost sharing because that is the phrasing we use when speaking with colleges.
Next, you are right. Managed Care, Traditional plans, and fully insured plans are not necessarily the same as each other, but for the purposes of our conversation they are because they have small, if any, deductibles.
Finally, HDHPs have grown tremendously. Watson Worldwide just put out a report stating that 38% of employers in the US are now offering HD CDHPs to their employees (up from just 11% in 2005.) I suggest that as an insurance professional you learn about what is going on in your industry and not just trust generic websites. \”A little knowledge is a dangerous thing,\” so when you get the full story I look forward to speaking to you about it.
As I stated in my earlier post, you made some good points. However, you just stated \”In my posts I refer to plans without a high deductible as non cost sharing because that is the phrasing we use when speaking with colleges.\”
This is an insurance forum, not a college. I realize other health insurance professionals would respond here, but looking at many of the other responses that doesn\’t seem to be the case. And, by the way, in my job I do not deal with health insurance so I have no need to learn what is going on in my industry. If I did need to learn, I am thankfully intelligent enough to do so.
\”Managed Care, Traditional plans, and fully insured plans are not necessarily the same as each other, but for the purposes of our conversation they are because they have small, if any, deductibles.\” What do you consider a large deductible? I have seen many plans with very large deductibles that I would not want to choose.
In any case, my whole point is that the article was simply stated and was not about these no cost health plans. Again, you made good points but you twisted and added to the author\’s words.
But thank you for the debate. If I ever find myself working with health insurance, I will look for your posts.
1. To answer you question: a high deductible plan (by order of the Federal Government) is one with a deductible of no less then $1100 single $2200 for a family.
2. My apologies, colleagues was the word I meant.
3. \”I have seen many plans with very large deductibles that I would not want to choose.\” Besides the lesser premium that comes with an HDHP, the IRS and other governmental entities give HUGE INCENTIVES to use a HDHP including front page deductions and pretax payroll deductions (making your paycheck actually INCREASE while funding your deductible). If you look at your 1040, take notice of lines 25 and 29.
3. The pleasure was all mine. Please, even if you don\’t sell health insurance, be knowledgeable about CDHC for you and your family\’s continued physical and financial health. No need to be healthy when you are homeless, and no point in being rich if you are dead.
I will check it out. It is always worth the time to learn more about something so important. Any suggestions for someone who needs individual health care (such as a self-employed or even unemployed person)?
Thank you very much for the information given.
Also, the thought didn\’t even occur to me that you meant colleagues and not college; I thought maybe you taught some type of class. Could have been huh? :)
I have a high deductible plan along with an HSA for my family. My premium and deductions for the HSA are less than I was paying for a more traditional health plan. And since my family has rarely if ever spent the $5600 deductible in one year of med bills, I am coming out way ahead.
Baffled… that\’s the whole idea. Don\’t forget, you can save up that money (and possibly earn interest,invest it) and not pay taxes on the earnings, and then use that money for any of the QME\’s, including Long Term Care insurance! Talk about a money generator for brokers like me! I love hdhp and dumb brokers, they keep me in business.
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Non cost sharing are also called managed care plans, fully insured plans, and traditional health plans… they are all the same.
Yes, I read the article, did you read the response?
Yes, I did read your response. Several times before I replied so I could make sure I had my facts straight. I also did research since I am not as familiar with health insurance.
Why don\’t you educate me on what a no cost sharing plan entails?
\”Non cost sharing are also called managed care plans, fully insured plans, and traditional health plans… they are all the same.\”
So essentially what I said is that traditional plans do not equal managed care plans do not equal no cost sharing plans do not equal fully insured plans. Not sure where you got your facts from but I went to a legitimate website for my research since I am not as familiar with all the health care plans out there.
I hope you don\’t sell health insurance.
Well, yes I do sell health insurance. And in NJ, I am considered an expert in HDHP and CDHPs.
When a insurance company offers a health plan with a large deductible, THEY call it a \”cost sharing plan.\” For example, a PPO with a 20/40 copay and 250 deductible would be called a \”PPO 20/40 ng\” the same plan with a 1500 deductible would be called \”PPOc 20/40 ng\” where the \”c\” stands for cost sharing. (I choose PPO for this example because they are all non-gated.)
In my posts I refer to plans without a high deductible as non cost sharing because that is the phrasing we use when speaking with colleges.
Next, you are right. Managed Care, Traditional plans, and fully insured plans are not necessarily the same as each other, but for the purposes of our conversation they are because they have small, if any, deductibles.
Finally, HDHPs have grown tremendously. Watson Worldwide just put out a report stating that 38% of employers in the US are now offering HD CDHPs to their employees (up from just 11% in 2005.) I suggest that as an insurance professional you learn about what is going on in your industry and not just trust generic websites. \”A little knowledge is a dangerous thing,\” so when you get the full story I look forward to speaking to you about it.
As I stated in my earlier post, you made some good points. However, you just stated \”In my posts I refer to plans without a high deductible as non cost sharing because that is the phrasing we use when speaking with colleges.\”
This is an insurance forum, not a college. I realize other health insurance professionals would respond here, but looking at many of the other responses that doesn\’t seem to be the case. And, by the way, in my job I do not deal with health insurance so I have no need to learn what is going on in my industry. If I did need to learn, I am thankfully intelligent enough to do so.
\”Managed Care, Traditional plans, and fully insured plans are not necessarily the same as each other, but for the purposes of our conversation they are because they have small, if any, deductibles.\” What do you consider a large deductible? I have seen many plans with very large deductibles that I would not want to choose.
In any case, my whole point is that the article was simply stated and was not about these no cost health plans. Again, you made good points but you twisted and added to the author\’s words.
But thank you for the debate. If I ever find myself working with health insurance, I will look for your posts.
1. To answer you question: a high deductible plan (by order of the Federal Government) is one with a deductible of no less then $1100 single $2200 for a family.
2. My apologies, colleagues was the word I meant.
3. \”I have seen many plans with very large deductibles that I would not want to choose.\” Besides the lesser premium that comes with an HDHP, the IRS and other governmental entities give HUGE INCENTIVES to use a HDHP including front page deductions and pretax payroll deductions (making your paycheck actually INCREASE while funding your deductible). If you look at your 1040, take notice of lines 25 and 29.
3. The pleasure was all mine. Please, even if you don\’t sell health insurance, be knowledgeable about CDHC for you and your family\’s continued physical and financial health. No need to be healthy when you are homeless, and no point in being rich if you are dead.
BW4LH&HL
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I will check it out. It is always worth the time to learn more about something so important. Any suggestions for someone who needs individual health care (such as a self-employed or even unemployed person)?
Thank you very much for the information given.
Also, the thought didn\’t even occur to me that you meant colleagues and not college; I thought maybe you taught some type of class. Could have been huh? :)
I have a high deductible plan along with an HSA for my family. My premium and deductions for the HSA are less than I was paying for a more traditional health plan. And since my family has rarely if ever spent the $5600 deductible in one year of med bills, I am coming out way ahead.
Baffled… that\’s the whole idea. Don\’t forget, you can save up that money (and possibly earn interest,invest it) and not pay taxes on the earnings, and then use that money for any of the QME\’s, including Long Term Care insurance! Talk about a money generator for brokers like me! I love hdhp and dumb brokers, they keep me in business.