What the midterm election means for health care

Posted by Alex Tolbert on Mon, Nov 19, 2018 @ 09:11

Medicaid expansion, Obamacare and more

Unlike the past few U.S. elections, health care did not play a major role in the 2018 midterms. While some campaign ads in Tennessee and nationwide focused on the Affordable Care Act, prescription drug prices and protections for pre-existing conditions, Obamacare just isn’t the political lightning rod it once was.

However, that isn’t to say that the results of the election won’t impact health care. Many Americans still struggle to access care, and most are frustrated by rising costs. At this point, any major health care policy is unlikely to pass, but newly elected and re-elected politicians will still likely want to work toward improving the health care system locally and nationally.

Below, let’s look at how health care might be impacted by the results of this election, both in Tennessee and nationwide.

Read More

Tags: healthcare, The Tennessean, healthcare costs, individuals, karl dean, bill lee, midterm elections

Will healthcare undermine your clients’ retirement strategy?

Posted by Emily Kubis on Thu, Nov 15, 2018 @ 14:11

Affluent Americans are concerned about the impact of healthcare costs on retirement

According to a new study published by Nationwide, healthcare costs are a major concern as adults age, and six in ten affluent Americans surveyed are “terrified” of how healthcare costs may derail their retirement plans.

These consumers are right to be concerned about these costs in retirement – expenses are expected to top $280,000 in retirement, according to a 2018 estimate by Fidelity Investments.

More than half of the respondents surveyed by Nationwide said they are concerned about not having the money they need to cover unplanned medical expenses in retirement, and Nationwide confirms many Americans are already unable to handle unexpected healthcare costs.

Read More

Tags: Bernard Health, financial advisors, financial planner, retirement, healthcare costs, healthcare extension

Three surprise healthcare costs that can affect retirement savings

Posted by Emily Kubis on Thu, Nov 08, 2018 @ 13:11

How to prepare

Do your clients have the information they need to effectively plan for healthcare costs in retirement? More and more advisors are recognizing that healthcare is an area of significant concern when it comes to retirement savings, but many retirees are still not planning for all of their potential costs.

Financial advisors have the opportunity to help clients better understand what to expect, and how to plan ahead for healthcare costs. In particular, here are three surprise healthcare costs that many Americans are not currently planning for.

By developing expertise in these areas in-house or partnering noncommissioned insurance advisors, financial advisors and wealth managers can give peace of mind to clients.

Read More

Tags: Bernard Health, financial advisors, financial planner, retirement, healthcare costs, healthcare extension

Four steps for finding the right health insurance plan in 2019

Posted by Alex Tolbert on Tue, Nov 06, 2018 @ 15:11

More options for Tennesseans

Do you need individual or family health insurance coverage in 2019? Open enrollment is here, which means consumers can compare and enroll in Affordable Care Act marketplace plans on Healthcare.gov until Dec. 15.

All the news about marketplace plans and new carriers coming to Nashville might distract consumers from an option that has been around for a long time, but is even more attractive in 2019 because of tax law changes. That option is Farm Bureau, and applying for one of its offerings should be the first step most Tennesseans take this year.

Read More

Tags: healthcare, The Tennessean, healthcare costs, individuals, karl dean, bill lee

How financial advisors can help clients with open enrollment

Posted by Emily Kubis on Wed, Oct 31, 2018 @ 10:10

Open enrollment begins Nov. 1

Open enrollment is here! Beginning Nov. 1, consumers can compare and enroll in Affordable Care Act plans via Healthcare.gov and state-based marketplaces until Dec. 15. You may already have clients asking for advice in this area, or you may know of clients who could use assistance in choosing the right healthcare strategy.

Here are a few tips for how financial advisors can help clients with open enrollment, providing another level of comprehensive service and wealth management.

Read More

Tags: Bernard Health, financial advisors, financial planner, retirement, healthcare costs, healthcare extension

Tennessee premium rates are stabilizing — but are costs still too high?

Posted by Alex Tolbert on Mon, Oct 22, 2018 @ 10:10

More options for Tennesseans

Open enrollment is almost here, and after years of double-digit premium increases, prices seem to be stabilizing.

Beginning Nov. 1, Tennessee consumers will be able to sign up for individual health plans via Healthcare.gov, and some consumers might actually pay less next year than they did in 2018.

For the first time since the Affordable Care Act exchanges opened in 2014, BlueCross BlueShield of Tennessee has filed for a rate decrease, dropping premiums nearly 15 percent. Cigna also requested a rate decrease for 2019, with premiums set to fall nearly 13 percent.

However, not all consumers will see a price reduction. One carrier in Tennessee, Oscar Health, plans to increase premiums in 2019 by 7.2 percent, and consumers with other plans may receive less in subsidies and pay more in premiums.

What is driving these cost changes? To understand, let’s look briefly at how premiums are set.

Read More

Tags: healthcare, The Tennessean, healthcare costs, individuals, karl dean, bill lee

Does the U.S. have ‘free market’ healthcare?

Posted by Alex Tolbert on Fri, Oct 12, 2018 @ 11:10

How to make healthcare more competitive

Americans have been debating healthcare for decades. As costs have continued to skyrocket for individuals, employers and the federal government, consumer frustration has also risen.

The U.S. healthcare system is often characterized by opaque pricing, varying levels of quality, and inefficiencies that make getting care confusing for patients and providers alike.

Politically, the debate usually boils down to which path would improve access to care and lower costs – a more centrally-planned healthcare system, or a more free-market approach.

The U.S. healthcare system today isn’t really a free market, but there are some pockets that operate more like one than others. Below, we’ll look at what keeps America’s healthcare system from being a true “free market,” an example of a pocket in healthcare where a free market does operate, and finally, some ideas that could make the country’s healthcare system more competitive.

Read More

Tags: healthcare, The Tennessean, healthcare costs, individuals, karl dean, bill lee

Financial advisors: Do your clients need help with healthcare costs and coverage?

Posted by Emily Kubis on Mon, Oct 08, 2018 @ 08:10

How to identify clients who need help

More and more financial advisors are recognizing that healthcare costs have a material impact on clients’ retirement strategies, and are taking steps to provide more comprehensive advising in this area.

One way of accomplishing this is by offering a Healthcare Extension through Bernard Health to provide clients access to licensed, noncommissioned health insurance experts to assist in finding the right strategy.

You may already have some clients asking for assistance in this area, but clients in the following scenarios may also benefit from additional support and advice.

Read More

Tags: Bernard Health, financial advisors, financial planner, retirement, medicare costs, healthcare costs, healthcare extension

Governor’s race: Where do the candidates stand on health care?

Posted by Alex Tolbert on Wed, Sep 26, 2018 @ 09:09

Healthcare often a key issue in political races

When it comes to political issues, health care is one that many consumers feel strongly about. Health care is a big part of almost everyone’s life, so it’s often a key issue in political races.

This will likely be true in Tennessee’s upcoming governor’s race, where Republican Bill Lee will face off against Democrat Karl Dean in November. Further, because Tennessee consistently falls in the top 10 unhealthiest states, this is an issue with particular relevance.

However, when it comes to health care, Karl Dean andBill Lee may have more in common than they have differences. Their health care platforms, as published on their websites, share some key characteristics, but also a few contrasting ideas.

Read More

Tags: healthcare, The Tennessean, healthcare costs, individuals, karl dean, bill lee

Bernard Health announces new Healthcare Extension partnership with Baird to support financial advising clients in healthcare planning

Posted by Emily Kubis on Thu, Sep 20, 2018 @ 11:09

Healthcare advisory firm Bernard Health today announces a new partnership with Baird to provide healthcare planning and health insurance advice to clients of the national financial services firm.

As healthcare costs continue to rise, integrating insurance and healthcare expenses into retirement is an area of significant concern for clients of financial advising and wealth management practices. At the same time, there are few resources available to help individuals and families make the right decisions around health and drug coverage, Medicare, and planning for healthcare needs and costs in retirement.

Through the 12-month Healthcare Extension partnership, Baird’s 900 advisors across the country will have access to Bernard Health’s licensed, noncommissioned healthcare advisors. Bernard Health has more than a decade of experience helping individuals and families compare and enroll in medical coverage, drug coverage, Social Security, and dental and vision coverage, as well as providing advocacy and support in doctor and provider recommendations, medical bill auditing and opening Health Savings Accounts.

Read More

Tags: Bernard Health, financial advisors, financial planner, retirement, medicare costs, healthcare costs, healthcare extension, Baird

Email Subscription

employer healthcare freedom
employer healthcare freedom