About Me

NAME:      Kris J. Willy
TITLE:     Health Insurance Guru
EMPLOYER:  Owner of The Colorado Health Solutions Agency
LOCATION:  Colorado

Welcome to Colorado Health Solutions

Since this is my very first blog posting I would like to welcome you and say thanks for stopping by. The intention of this bog is to inform you of ideas and changes that I will run into and learn about every day. If I run across something that I feel you will benefit from, I will definitely post it here.

This blog will contain Colorado Health Insurance information, ideas, facts, changes in carriers plans and rates, client's stories and experiences, and just about anything else I feel you should know.

Feel free to drop my a line at anytime with ideas or suggestions at Kris@ColoradoHealthSolutions.com

Once again I thank you and look forward to hearing from you!

Kris Willy
Kris@ColoradoHealthSolutions.com
Your Colorado Health Insurance Specialist


Annual Rate Increases

This is the time of year most people will be getting their annual health insurance rate increases. Some will be manageable, some will be un-manageable. I get asked the question time and time again, "the health insurance company is singling me out based on claims", or "why did I get a 30% rate increase when I didn't even see the doctor once last year?". Listen, no one wants to get a rate increase, but it's going to happen from year to year. There is a formula behind how the insurance companies adjust your rates, here is the breakdown and how it is done:

If you've ever read your policy you may have seen this "We reserve the right to periodically adjust the premium rates charged for coverage's under the policy." Ok that seems pretty straight forward, but what do they really mean?

Premium rates are calculated based upon numerous factors such as:

1)  New business rates - Insurance companies will adjust the rates based on the volume of new business, as they say the more the merrier!
2)  Provider network - Each health insurance company has it's own network they either share or own. If doctors inside this network negotiate different rates from year to year you will see a higher or lower adjustment.
3)  Geographic location - Yes you may be charged more because you live in the mountains. Each zip code has it's own adjusted rate with each carrier. It basically comes down to how much medical treatment costs in the area you live. This is why it is recommended you shop around to find the best rate based on where you live.
4)  Age - Everyone should know this one, you will pay more from year to year based on your age.
5)  Gender - Most people say, it's illegal for insurance companies to single out based on sex. No it's not in health insurance, as a rule of thumb female will generally cost more to insure up to a certain age.
6)  Tobacco usage status - Pretty straight forward, if you smoke of use tobacco products you will pay more. An average of 30-40% more than a non-tobacco user.
7)  Medical trend - Are doctor's and hospitals charging more for a given procedure this year than last? This is yet another factor that comes into play when your rates are adjusted.
8)  Durational rating factors - How long have you been on your policy? Odds are the longer you're with a company the higher the rate increase you will get. It simply comes down to the size of the block of insured's you're with. I'll explain in the next paragraph.
9)  Health status of the entire block of insured's in which you are included - Ahh here is the biggie! When you sign up on a health insurance plan you are lumped into a block of insured's. Let's call this block you're in block X. The first year you have decent rates, then bam! Your rates go up 30%, what happened? Odds are that you are lumped into an un-healthy block of insured's. What happens when you get a 30% rate increase? You start shopping around, and so do the other people in your block. So now all the "healthy" people end up leaving the block you're in which leaves who in the current block X? The un-healthy who can not switch now that they are "uninsurable".  So the un-healthy have to stay in the block due to pre-existing conditions, therefore using their health plans more and more. The size of your block has now shrunk to the point that the health insurance company is now paying out more than they are getting in from premiums.  What happens next year, an even bigger rate increase! This is why it is important to at least price out new policies from year to year.
10)  And other factors as permitted under state law - No one really knows what they mean by this, I guess you can contact the state insurance commissioner to get the answer to this one.

We specialize in finding you affordable health insurance based on your needs and budget. There are new health insurance plans that come out from year to year that WILL save you money. Is your current broker or agent showing you these plans? If not shouldn't you have a broker that will? Let me know if I can be of any service to you now or in the future.  Our clients are why we are in business!

Have a great day and stay healthy!

Kris Willy

Kris@ColoradoHealthSolutions.com
Your Colorado Health Insurance Specialist

$4 Generic prescription drugs are becoming more common!

As most people currently taking prescription drugs have found out, Wal-Mart and Sam's Club are currently offering a pretty decent size list of generic drugs for only $4. (30 day supply)  As I assumed we are now going to see more and more companies joining in on the fun.  Who is the next in line?  How about Target!

"Target tags drugs at $4
 

Target Corp. said it will sell certain generic prescription drugs for $4 at all of its pharmacies, effective immediately.  The rollout affects slightly more than 300 drugs, formulations and dosages, including popular medicines such as prednisone, tetracycline, amoxicillin and erythromycin. Target has at least 19 Denver-area stores with pharmacies.  Target said it made the move to avoid confusion among its customers.

Kris Willy

Kris@ColoradoHealthSolutions.com
Your Colorado Health Insurance Specialist

Most People Underestimate Health Care Costs!

I recently read an informative article the other day that really didn't surprise me one bit.  It had to do with people underestimating the cost of health care in this country. Honestly, I talk to people everyday who are ignorant to the cost of an overnight hospital stay as well as other medical procedures.  For example, I spoke with a female at Starbucks the other day and she said that she is going to pay out of her own pocket the cost of a physical exam, as opposed to getting a health plan that would cover it or at least help pay for the testing.  I then asked her, "How much do you think a complete physical exam costs someone who isn't insured?  She said, oh probably about $75.  I kind of chuckled and told her the procedure normally costs anywhere from $300 to $500.  She was very surprised, as are so many other people when they realize the cost of health care today.

It doesn't have to be this way!  It just goes to show that most consumers are misled by the media, an agent, or what they hear on the street when it comes to choosing a health plan.  Most people are on the wrong type of plan!  They may have limits and caps on surgeries or prescription drug coverage without even knowing it.  The fact is most people are only an illness away from financial disaster!

If there were a one size fits all plan out there it would be easy wouldn't it?  No one person or family is the same, therefore you must look at the important things in a health plan.  It will save you a headache and a lot of money in the long run!


Make Sure You're In Network!

Please remember to run a network search before you see any doctor, go to any lab facility or any hospital unless it's an emergency.  If it's a non-emergency and you see a non-network provider you may be responsible for the charges between the network price and the total charge.  If you're unsure about how to run a network search or forgot which network you are in please call me, I'm always here to assist you.

I also encourage you to call me before a scheduled surgical procedure so I can make sure all providers and facilities are in network.  I will also make sure any and all pre-authorization requirements are met.  Simply call or e-mail me and I will do the rest for you!