Posted on Thursday, June 4, 2015

Going Off to College: Parents’ Insurance or ObamaCare?

Usually, the best choice is your parent’s health insurance plan.

First, you are only eligible for ObamaCare Health Exchange insurance if you have no other health insurance options.

Additionally, it is often better to stay on your parent’s insurance because if they have a big group plan at work the cost of maintaining coverage for you is not very expensive. This is especially true if your parents are already covering other members of the family. You should ask your insurance company how much it will cost to maintain coverage for you while you are in college. Your parents’ plan will also often cover more healthcare items and have a lower deductible than many ObamaCare plans.

If your parents do not have a health plan through work, ObamaCare may be a good option. To find out whether you are eligible, log into the ObamaCare website www.healthcare.gov. After answering several questions, you will be able to see your options. Each state has different insurance companies offering plans in that state.

Are you planning on staying on your parents health insurance plan while in college? I’d love to hear from you!

MyHealthSpin helps you Spin Your Healthcare Your Way!

Check out how more information on insurance in our new book, Easy Healthcare: Choose Your Health Insurance.

Posted on Monday, June 1, 2015

Going Off to College: Do You Have Health Insurance?

For many students the answer is no. It’s just not something that is regularly considered when making the college choice, packing, and moving. Young people consider themselves invincible. However, they still need healthcare.

Here are some options:

1. Stay on your parent’s health plan. Due to ObamaCare, young adults can now stay on their parent’s health insurance until age 26.

2. Buy health insurance from the college. This might be a good option for some students. It is often something you can add to your tuition and room and board so student loans can help with the cost. However, more and more colleges are cutting back on offering health insurance and the college plan may be limited. Make sure you know what coverage you are getting.

3. Go to the Health Exchange. You may qualify for your state’s health exchange. Depending on what state you are in, you may have good options for reasonably priced coverage. You also may qualify for a tax subsidy for all or part of the cost.

4. Buy catastrophic health insurance. Under ObamaCare, young adults under the age of 30 are allowed to purchase catastrophic health insurance. This will likely have a high deductible (around $6,000) but with a cheaper monthly premium. It will often also cover preventative visits.

5. Sign up for Medicaid. If your state has expanded Medicaid, this might be a good option if your family meets the low-income threshold.

As always, you should look at all the options and consider the cost along with what is covered. Planning ahead is always the best option rather than waiting until you have an health emergency.

What are your plans for insurance while you are in college? I’d love to hear from you!

MyHealthSpin helps you Spin Your Healthcare Your Way!

Check out how more information on insurance in our new book, Easy Healthcare: Choose Your Health Insurance.

Posted on Thursday, May 28, 2015

Is Your Health Insurance Overpayment Your Problem?

The answer is often “yes.” Our reader Sally found this out the hard way.

Sally had back surgery. Her insurance company overpaid her surgeon. How could this be Sally’s problem?

Sally’s surgeon was out of network. Since she was out of network, the insurance company paid Sally directly. Sally, in turn, endorsed the check over to her surgeon.

Two months later, the insurance company sent a letter to Sally stating that they had overpaid the surgeon and the insurance company wanted Sally to pay the insurance company back for the $6,500 overpayment. Sally thought this was absurd. How could she possibly know that the surgeon was overpaid? Sally asked me what to do.

First, before you endorse a check over to your doctor, always make a copy of the check and get a receipt. Luckily, Sally had a copy and a receipt.

Second, start with your surgeon’s office. Every office has a billing department. Explain the problem. Show the office the insurance company letter and ask them to reimburse the insurance plan.

Third, if the surgeon’s office won’t help, contact the compliance office at the insurance company. You should make sure you put everything in writing so you can show the insurance company that you attempted to get the surgeon’s office to return the money.

You might be surprised to know that overpayments happen about 20 percent of the time. This is due to coding errors or the insurance company processing payments for services that are not covered by the health plan.

Have you ever received an overpayment from your insurance company? I’d love to hear from you!

MyHealthSpin helps you Spin Your Healthcare Your Way!

Check out how more information on insurance in our new book, Easy Healthcare: Choose Your Health Insurance.