eCAHealthinsurance Uncovers Hidden Treasure Buried in California Health Insurance

Sept. 27, 2011 - PRLog -- When the Anthem contracts with Stanford Hospital & Clinics expired September 1, a Stanford spokesperson first said patients might have to pay out-of-network rates.  Then on September 15, Stanford said it would honor in-network rates, but Anthem was not in total agreement.  Patients were told to contact the insurer to clarify out-of-pocket costs.  In response, the leading online source of health insurance for Californian individuals and families, eCAHealthinsurance, released research today on what Californians can do to spend less for health care, including services not covered by insurance.

The UCLA Center for Health Policy Research found that 12 percent of Californians with employer-based plans had to meet deductibles of more than $1,000.   According to their 2007 California Health Interview Survey, 38 percent of those who bought their own health insurance had a high-deductible policy.  The “vast majority” (from 69- to 80-percent depending on whether they had an HMO or PPO) of those with high-deductible plans did not have a health savings account (HSA).

eCAHealthinsurance strongly recommends that high-deductible policyholders take advantage of HSA-qualified plans that allow them to open an HSA when there is little price difference between HSA-qualified plans and other high-deductible plans.  HSA plans permit tax-free earnings, and funds remain untaxed when withdrawn to pay for most health care.  If HSA money is not needed for health care, it continues to grow without taxation.  In contrast to IRAs, HSA funds can remain invested after the owner reaches age 65.  At that time, HSA money is no longer restricted to health care and can be spent on whatever the owner chooses.

For the 2011 tax year, an individual with a taxable income from $8,501 to $34,500 is in the 15 percent federal tax bracket, and even those earning $8,500 or less are in the 10 percent bracket.  While IRAs allow individuals to deduct $2,000 from taxable income per year, the money is out of reach until the owner turns 59-and-a-half.

HSA plans allow individuals to contribute up to $3,050 for the 2011 tax year, or up to $3,100 for the 2012 tax year, and take the full amount as a deduction. HSA owners are not required to make any contribution, but they can deduct the maximum without using the funds for health care.

The high-deductible plans now available, whether HSA-qualified or not, do not apply a deductible to preventive health care.  Because older policies do, Californians may benefit from expanded coverage by switching to a new plan.

Individuals who have been unable to get health insurance for six months due to a health problem are eligible for a federally-funded Pre-existing Condition Insurance Plan (PCIP).   On August 1, 2011, the federal government approved a premium reduction that takes effect October 1.  Premium reductions range from 8.2 percent to 24.3 percent depending on the enrollee’s age and location.    

Online resources are also available at http://www.eCAHealthinsurance.com/additional-benefits-rx.htm for prescription discounts and overseas mail-order prescriptions at a fraction of the U.S. cost.  For blood work, CT scans, lab tests, MRIs or x-rays, discounts of up to 80 percent are available at http://www.eCAHealthinsurance.com/member-benefits-lab.htm.  

Medical bills may also be submitted for professional negotiation to reduce charges at http://www.eCAHealthinsurance.com/member-benefits-bill-re....  Additional information on medical treatment in other countries at reduced rates is available at http://www.eCAHealthinsurance.com/international-medical.htm.

In California, several options can help reduce the cost of health insurance and medical services.  Californians have access to discounts, bill negotiation services, and overseas medical treatment.  In addition, Californians who purchase high-deductible policies may benefit from HSA plans that offer tax-free earnings and turn saving into a tax deduction.  New plans also expand coverage for preventive care.  For those with pre-existing conditions who cannot get coverage, PCIP is an option after they have been unable to find coverage for six months.

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About eCAHealthinsurance:

As an independent broker, eCAHealthinsurance has become a leader in providing strategies to enable Californian families, individuals and small businesses to reduce their cost for health care and insurance coverage.

Californians may use eCAHealthinsurance’s online resources by visiting http://www.eCAHealthinsurance.com/ to compare coverage options. Instant quotes with side-by-side comparisons of coverage options from multiple insurance companies help consumers get quick results.

Californian families, individuals and small businesses may also schedule consultations with eCAHealthinsurance expert advisors to compare options by calling 1-866-585-7662 from 6 AM through 8 PM Pacific.