Maryland CareFirst Premiums Set to Rise in 2016

If you live in Maryland and are covered by a CareFirst health insurance plan, chances are you’re going to see an increase in your monthly premiums in 2016.

Effective January 1, CareFirst premiums in Maryland will be on average 26% higher than rates in 2015.

What Can You Do?

At Virginia Medical Plans, our number one goal is to educate you about your options and help you choose the one that best meets your needs — and your budget.

Because we work with all the major carriers, we may be able to secure a plan for you with another insurer at a more competitive price.

We may find, however, that because CareFirst continues to have the largest HMO and PPO networks for plans in Maryland, switching carriers is not an attractive option. In that case we can examine other plans with CareFirst. For example, an HSA-compatible plan may help mitigate any premium increase and provide tax breaks to families with higher incomes.

Open Enrollment Begins November 1

Open Enrollment begins November 1 and extends through January 31. During this time, you may select new 2016 coverage for any reason.

If you enroll in coverage …	Your coverage will begin …
November 1, 2015 – December 15, 2015	January 1, 2016
December 16, 2015 – January 15, 2016	February 1, 2016
January 16, 2016 – January 31, 2016	March 1, 2016

If faced with a price increase for 2016, we recommend researching your options.

You can view plans and pricing by clicking the Instant Quote button above and requesting a free quote. We expect 2016 data to be available in mid- to late-October.

Virginia Medical Plans Can Help

We are standing by to answer any questions you may have. Give us a call at 703-707-8270.

There is never a charge for our services, and we are happy to be of assistance!

 

 

 

I Can’t Afford Health Insurance

So You Think You Can’t Afford Health Insurance?

Don’t be so sure.

If you have searched for health insurance and believe it is too expensive, please let us help you find a solution that meets your needs and fits your budget.

You Can’t Afford NOT to Have Health Insurance!

The worst thing you could do is remain uninsured or not renew your coverage because the premiums feel out of reach.

We will work tirelessly — at no cost to you — to help you find a plan that fits your budget.  By adjusting some of the features of your plan, we can adjust your premiums.

For example, we can lower your monthly premium by choosing a policy with a higher deductible.

This is a trade-off, but one we feel is worth it if the other option is to be uninsured.  Look at it this way:

What is the known?  The monthly premium.  When you select a policy, we know for certain you will be writing a monthly check for the stated premium amount.

What is the unknown?  Your health care needs for the upcoming year.  We don’t know if your health care expenses for the upcoming year will be $500, $5,000 or even $50,000.

But even if a higher deductible is something you may have trouble affording, you are still better off — way better off — having coverage with a high deductible than no coverage at all.  With insurance, you are assured that your exposure for covered medical treatment for the policy year will be no greater than the amount of your deductible.

Raising a policy’s deductible is just one example of a way to lower the premium.  There are other tweaks we can make to a plan’s options in order to get the premium into a more comfortable range.

Other Benefits of Having Health Insurance

Being insured affords you other concrete, money-saving benefits, regardless of the pricing or coverage options.  For example:

• Lower negotiated rates for services.  Health insurance companies work with doctors, pharmacies, hospitals, and other medical providers to provide treatment at reduced rates.  If you are not insured, not only will you pay for all care out of your own pocket, but you will pay a higher rate for that care.
• Physical exam component covered at 100%.  Under the provisions of the Affordable Care Act, physical exams are fully covered.  Without health insurance, you lose this important benefit.
• All preventive care covered at 100%.  Not only is a physical exam is fully covered, but ALL preventive care is covered at 100%. Click here for details.

Everyone Must Have Health Insurance.  It’s the Law.

The Affordable Care Act (ACA) says you must have health insurance.  But, we believe the reason for being insured goes beyond the government mandating it.

Having health insurance protects you financially from the impact of major illness or injury.

Click on the green or orange button on the upper right of this page to get started right away.  We can help you find the right policy to meet your specific needs.

Our phone is 800-867-0800 and our email is jkatz@vamedicalplans.com.

And don’t forget — our services are absolutely FREE!

Please be patient as we manage an extraordinarily high volume of calls and emails.

I Can’t Afford Health Insurance in 2014

What Should You Do if You Think You Can’t Afford Health Insurance in 2014?

If you have searched for health insurance and believe it is too expensive, please let us help you find a solution that meets your needs and fits your budget.  The worst thing you could do is remain uninsured because the premiums feel out of reach.

We can often find a plan that fits into your budget by making adjustments to some of the features of the plan.

For example, we can lower your monthly premium by choosing a policy with a higher deductible.

This is a trade-off, but one we feel is worth it if the other option is to have no coverage at all.  Look at it this way:

What is the known?  The monthly premium is known.  When you select a policy, we know for certain you will be writing a monthly check for the stated premium amount.

What is the unknown?  Your health care needs for the upcoming year are unknown.  We don’t know if your health care expenses for the upcoming year will be $500, $5,000 or even $50,000.

But even if a higher deductible is something you may have trouble affording, you are still better off — way better off — having coverage with a high deductible than no coverage at all.  At least you know the extent of your exposure for covered medical treatment for the policy year will be no higher than the amount of your deductible.

Raising a policy’s deductible is just one example of a way to lower the premium.  There are other tweaks we can make to a plan’s options in order to get the premium into a more comfortable range.

Other Benefits of Having Health Insurance

Being insured affords you other concrete, money-saving benefits, regardless of the pricing or coverage options.  For example:

• Lower negotiated rates for services.  Health insurance companies work with doctors, pharmacies, hospitals, and other medical providers to provide treatment at reduced rates.  If you are not insured, not only will you pay for all care out of your own pocket, but you will pay a higher rate for that care.
• Physical exam component covered at 100%.  Under the provisions of the Affordable Care Act, physical exams are fully covered.  Without health insurance, you lose this important benefit.

Everybody Must Have Health Insurance in 2014.  It is the Law.

The Affordable Care Act (ACA) says you must have health insurance.  But, we believe the reason for being insured goes beyond the government mandating it.  Having health insurance protects you financially from the impact of major illness or injury.

Give our office a call today, or send us an email.  Or click the button on the upper right for instant quotes.  We can help you find the right policy to meet your specific needs.

Our phone is 800-867-0800 and our email is jkatz@vamedicalplans.com.

Our services are FREE!

But get in touch today because time is running out to get 2014 coverage.  The deadline is March 31.

Please be patient as we manage a high volume of calls and emails.

What is a Drug Formulary and Why Should I Care?

What is a drug formulary?

A drug formulary is a list of medicines covered under a health insurance plan.  A formulary may also specify tiers of medications and corresponding levels of co-pay or co-insurance.

The drug formulary will vary from plan to plan.

Why Should I Pay Attention to my Health Insurance Plan’s Drug Formulary?

It is important to know the specifics of your plan’s drug formulary — particularly if your health care regimen includes taking expensive medications on a regular basis — so you can accurately anticipate the out-of-pocket expenses you may incur for medications.

Under the Affordable Care Act (ACA) you cannot be denied coverage for pre-existing medical conditions, nor can you be charged a higher premium for coverage based on your current medical status.

However, insurers have leeway when it comes to which medications they will cover.

Drug Formularies in 2014 Health Insurance Plans

Some carriers are taking measures — particularly for those plans sold on the exchange — to keep costs down through drug formularies which:

• Narrow the list of covered drugs
• Limit quantities
• Require prior authorizations
• Insist on “fail first” or “step therapy” protocols that require doctors to prescribe a certain drug first before moving on to another — even if it’s neither the physician’s nor the patient’s preferred medication

This can be a really big deal for people with certain medical conditions, and can mean greater-than-expected out-of-pocket costs.

Understand Your Plan’s Drug Formulary

Before buying a health insurance plan, make sure you look carefully at the drug formulary to be sure it fits your needs.

Maybe you don’t currently take expensive medications, so having a plan with a more limited drug formulary will not present a big risk.  But if you do take expensive medications, you need to know whether or not they will be covered, and at what rate.

Understand too, that by limiting a plan’s drug formulary, a carrier can offer coverage at a lower price.  Do not be deceived by a lower monthly premium that could ultimately mean large bills for costly medications.

We can help you understand the details of a plan’s coverage.  Give us a call.

Please be patient as we manage a high volume of calls and emails.