Do it yourself Life Insurance

There was an interesting article on NPR regarding life insurance for the Apollo 11 astronauts.  Apparently, traditional life insurance companies were charging such a high premium that the astronauts decided to do something on their own...they signed hundreds of envelopes (aka "covers" to those who collect these things) to be postmarked on the day that launched, stepped on the moon,...

Fight the Feds, Lose City Hall

We've discussed the concept of "shanda" before; briefly, it's an embarrassing scandal. And it's quite apropos today, as we read about one employer's successful fight against HHS Secretary Shecantbeserious and the shameful way that employer is being treated by the city (some 300 citizens of which he employs):"The Catholic owners...

$716 Billion

A billion here, a billion there. Before you know it you are talking about real money.When is a cut not a cut?When they say it isn't.No matter your political leaning, $716 billion is a lot of money. Doesn't matter if you call it a cut or savings.The $716 billion line gets people pretty riled up. When Ryan delivered it Wednesday,...

Cavalcade of Risk #165: Call for submissions

Jason Shafrin hosts next week's Cavalcade of Risk - Entries are due by Monday (the 3rd).To submit your risk-related post, just click here to email it.You'll need to provide:■ Your post's url and title■ Your blog's url and name■ Your name and email■ A (brief) summary of the postPLEASE remember: ONLY posts that relate to risk (not personal finance tips and the like).Thanks!NB: We're starting to...

Thursday NewsLinks

■ As Isaac continues to pound the Gulf region, at least one insurer has thrown out a lifeline:"Aetna is making it easier for members affected by Hurricane Isaac to refill prescriptions and behavioral health programs. We are also extending claim and appeal filing times, and helping members who have evacuated find care outside...

College Sticker Shock [UPDATED & BUMPED]

[Scroll down for update]College students, and their parents, are getting lumps of coal in their dorm stocking. In addition to rising tuition costs (due mostly to a lackluster economy) it seems that the Obamacare serpent is raising its' ugly head in the form of higher student health insurance premiums.We have railed against...

Digital insurance?

Here's something you may not have thought about (I know I hadn't): "what happens to all of your online stuff when you die?"Many (most?) of us have an iTunes library, multiple email accounts, and various social media accounts (Twitter, FaceBook, and the like), even online financial accounts (PayPal, for instance). Some of these...

Medicare - Popular and Successful

Even though the economy continues to limp along in the longest running, most anemic "recovery" in history, the political spin cycle tries to focus the voters on other things. In much the same way as a magician seeks to distract their audience from what is really happening, politicians would rather talk about anything OTHER...

The Myth of the Unbiased Media

Rueters has published an article trying to debunk what they call the Top Six Myths of Medicare by Mark Miller:“The debate already is generating plenty of claims and counter-claims about what is and is not working- often based on misinformation about how Medicare actually functions today. Solet's take a look at the six biggest myths about Medicare, along with thefacts.” The “facts” as outlined by Mr....

Disability trends '12

The Council for Disability Awareness (CDA) has just published its 2012 Long Term Disability Claims Review, an annual study which analyzes disability claims as reported by CDA member companies. The study comprises stats from 2007 through 2011.Here are some examples:■ In 2011, CDA member companies paid out over $9 billion in...

Marmite vs MRSA

Released 30 years ago, the song Land Down Under included this memorable line:"Buying bread from a man in Brussels He was six foot four and full of muscle I said, "Do you speak-a my language?" He just smiled and gave me a vegemite sandwich"Well, its cousin, Marmite, is in the news today, for a very good reason:"An ingredient...

College health plans taking off

And not in a good way. We've long noted that these plans are mediocre (at best) and overpriced to boot. Now comes word from FoIB Jeff M that another college is set to bring its premiums in line with the train-wreck's requirements:"Guilford College in North Carolina is poised to raise the prices they charge students for health insurance by 75 percent as a direct result of the implementation of [ObamaCare]...

MVNHS©: It's for the chillun' (or maybe not)

The Much Vaunted National Health Service©, not content with killing off hospital-bound victims patients, has set its sights a bit lower:"[MVNHS©] won't pay for child cancer treatment that 'cuts deaths by 25% - Some British parents are taking their children to the US to receive a three-drug treatment"Question: Why does President...

MLR means More Ludicrous Recalculating

Benefits Guy blogger (and FoIB) Patrick P reports that it’s going to cost one of his clients more in payroll updates and accounting fees than the value of the MLR rebate they actually received. Here's a taste:"Taking the Arizona employee we were able to come up with the following calculation of his premium rebate:  Total...

Doctor Spin

"Don't vote Republican. They will take away your Medicare."Really?Do you mean like Medicare Advantage plans? More than a quarter of the 50 million beneficiaries receive coverage through private Medicare Advantage plans, mostly health maintenance organizations, and Medicare’s drug benefits are delivered exclusively by private...

ObamaCare's Hinkle Wrinkle

One supposes that this could be quite humorous, if the stakes weren't so darned high:"As critics warned [ObamaCrap] will not “bend the cost curve downward” as promised. To the contrary, a June report ... predicts that national health spending through 2021 will continue to grow at a considerably faster clip than Gross Domestic...

Actos Warning

From Consumer Reports:"The Food and Drug Administration approved generic versions of the type 2 diabetes medication Actos (pioglitazone) last week. But we say skip Actos as both a generic and brand-name medication, unless other options have not worked. Pioglitazone can cause serious side effects, such as an increased risk of heart failure, bone fractures, and bladder cancer. Other medications to treat...

Medicare Trigger

From the Baltimore Sun:"With all the political drama going on concerning Medicare from both parties, it baffles me that President Barack Obama has ignored his legal responsibilities regarding the "Medicare trigger." That trigger (covered under Section 1105 of Title 31 of the U.S. Code) is a forecast from the Medicare trustees that general revenues will be required for 45 percent...

ObamaCare goes to college (a double whammy)

While I've never understood the connection between health care and college loans, they are nevertheless an integral part of ObamaCare. And just as that train-wreck has greatly depleted Medicare, it also threatens student loans in general, and how the 58 states will have to balance college needs and folks on Medicaid:"Parents and students facing sky-high state-run college tuitions aren't likely to...

ObamaCare 2013: HSA/FSA Update

As we round the corner and head into 2014, the IRS has issued new minimum deductible guidelines for those of us still clinging bitterly to our (soon to be gone) HSAs. For 2013, the minimum deductible for tax-qualified HDHP plans will be $1,250 per person, or $2,500 per family (or: $2,500 for "embedded deductible" plans). Please consult your insurance professional if you don't know what an embedded...

Doctor App

FoIB Holly R tips us to the newest iWrinkle:"Before long, your doctor may be telling you to download two apps and call her in the morning ...  Soon they may also act as medical devices, helping patients monitor their heart rate or manage their diabetes, and be paid for by insurance."That last bit may be misleading: good...

Mandating Tips

Well, it's about time we get a male-centric mandate. Regular readers may recall our exposé of the double-standard regarding breast cancer screenings:"Raymond Johnson, a 26 year old with no health coverage, just found out two horrible things: First, that he has breast cancer.And second, that even though there's a special Medicaid...

Nick's Story (Reprised)

[This post was originally published on March 16, 2009. We are re-posting it as our contribution to today's Life Insurance Movement. HGS]My father never was the picture of health. He smoked, he drank, and he ate things that most people wouldn’t touch unless they had to break into the box marked “Survival Kit - Last Option.” Vienna sausage does not a meal make. He constantly had some manner of cold,...