Health Savings Accounts Receive Help from Mini-Meds
(ContentDesk) August 15, 2006 -- William Short, Senior VP at First Horizon Msaver (http://www.firsthorizonmsaver.com) recently published this essay on mini-meds and their effects on HSA usage for the The Flint Hills Center for Public Policy:A universal fact that plagues every business from nuclear switch manufacturers to widget producers is the rising cost of providing health benefits to their workforce. The cause of this rise in healthcare costs can be attributed to over utilization, unhealthy life styles, and a third party payment system that does a poor job of managing the payment cycle.
Employers cannot continue to shoulder the burden associated with the rising cost of healthcare. As a result, they have begun to investigate more consumer-centric solutions designed to reduce cost by engaging the individual in his or her own health care decisions.
The Health Savings Account (HSA), enacted as part of the Medicare Modernization Act of 2003, when coupled with a qualified High-Deductible Health Plan (HDHP) presents such an opportunity.
Individuals can manage their healthcare risk below a set deductible. In addition, they gain a financial incentive in the form of pre-tax and/or post-tax funds that roll over from year-to-year and grow on a pre-tax basis. Above that deductible, an HDHP kicks in that serves to hedge against catastrophic risk.
The HDHP-HSA combination does, however, create a gap between dollar one and the deductible. The realization that there is no first dollar coverage can scare some employers and consumers off of the product.Fortunately, help may be available from a more traditional insurance product.
To mitigate the first dollar exposure risk, it is possible to develop a program utilizing Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA), and a mixture of indemnity plans (mini-meds).HSAs and FSAs have garnered a decent bit of attention of late, but many people are unaware of mini-meds. The mini-med, though, is hardly a new concept. It is a product that flourished right up to the introduction of the Health Maintenance Organization (HMO) and then fell out of favor with consumers. The HMO was an initial success because it offered the consumers the opportunity to have a third party manage their risk for a set premium price plus low office visit co-pays. However, with time consumers have grown to view HMOs as a poor benefit with an ever-growing price tag.The min-med is a defined benefit that pays a predetermined cash amount for medical services, which may or may not cover the entire medical bill.
This defined benefit feature allows for a mini-med plan coupled with an HDHP-HSA plan, which could soften the financial burden if a medical event were to occur and individuals did not have the needed funds in their HSAs.
The mini-med accomplishes three goals. It helps individuals reduce their risk of covering their high deductible, helps reduce the overall cost of health care benefits by motivating individuals to become more efficient users of their health plan, and it still manages to provide a rich healthcare benefit. On average an HDHP costs anywhere from 25 to 30 percent less then a traditional health plan, for instance. A plan could therefore include an HDHP, funds contributed to an HSA on a tax-preferred basis, a mini-med plan, and a limited-use FSA.For example, an individuals plan could have the following components:"????A $2,500 deductible HDHP that covers all medical expenses once the deductible is met"????A mini-med that pays a fixed benefit of $500 per day if admitted to a hospital with a maximum of seven days"????A limited-use FSA that is set up to pay for vision and dental expenses below the HDHP deductibleHSAs have the potential to empower consumers and restore a true marketplace in healthcare.
Right now, there is an unfortunate disconnect between buyer and seller in the medical marketplace. For too long, Americans have not had to think about the cost of healthcare beyond their co-pays and rising insurance premiums.Consumer-driven healthcare is the best way to re-establish this relationship. In the process, it will improve the quality of care, reduce the uninsured, and drive innovation. This potential for change, however, will fall short of its promise if employers and consumers fear taking advantage of the benefits due to perceived financial risk.Mini-meds provide a particularly helpful tool when combined with the powerful HSA. As it turns out, the biggest ally of HSAs and consumer-driven change in healthcare may in fact come from an old insurance product whose time has finally arrived -- the defined medical benefit plan.William C.
Short is an adjunct scholar with the Kansas-based Flint Hills Center for Public Policy and Senior Vice President of First Horizon Msaver (http://www.firsthorizonmsaver.com)..
The Stock Market Explained!
Let's briefly describe The Stock Market for those who are new to the financial world. What is The Stock Market?It is by definition a market in which shares of companies stocks are bought and sold. Let me explain this. When companies start growing they need to find investors willing to invest on the company. They need to rise money to keep buying machines and products and to expand their businesses.
At the same time many investors want to find companies where they can invest their funds, so they can receive passive income from the growth of those companies, which usually cause a growth on their portfolio of invested funds. How is The Stock Market organized and why? Companies discovered a long time ago that the most profitable, easy, fast and effective way to find the investors is through an organized system, in which there is liquidity, and through which all interested individuals could bring in funds to keep developing their businesses and enterprises. That originated The Stock...
The Stock Market Explained!
Hedge funds > The Stock Market Explained!
All-Star Weekend NFL/NBA Celebrity Models Raise Chartiable Funds with Fashions
Houston, TX (ContentDesk) February 18, 2006 -- The highly anticipated 2nd Annual Houston Fashion Weekend kicks off this Friday, February 17, 2006 from 12pm-1pm beginning with a visitation and Pizza Party, with children at the University of Texas M. D. Anderson Cancer Center. The event culminates on Saturady February 18th following a silent auction from 11:30am- 12:30pm. A lavish Glaceau Water sponsored reception and after party follows at the Kasbah, an upscale Moroccan themed venue from 10 p.m.
to 2 a.m. Throngs of international talents from the fashion industry including noted Designers such as Reggie Gillam of Atlantas Inner City Couture will flank the runway. Gilliams blazers, embroidered and hand- painted denim have been draped on Oscar Winner Jamie Foxx and pop icon Usher Raymond. Other designer industry mammoths such as Demarcus Faggins, Ramon Walker, Robert Pack, Antonio Wingfield & others will also be showcased.Sean Florence of Phaparazzi Couture, A Featured Celebrity...
All-Star Weekend NFL/NBA Celebrity Models Raise Chartiable Funds with Fashions
Hedge funds > All-Star Weekend NFL/NBA Celebrity Models Raise Chartiable Funds with Fashions
Health Savings Accounts Receive Help from Mini-Meds
(ContentDesk) August 15, 2006 -- William Short, Senior VP at First Horizon Msaver (http://www.firsthorizonmsaver.com) recently published this essay on mini-meds and their effects on HSA usage for the The Flint Hills Center for Public Policy:A universal fact that plagues every business from nuclear switch manufacturers to widget producers is the rising cost of providing health benefits to their workforce. The cause of this rise in healthcare costs can be attributed to over utilization, unhealthy life styles, and a third party payment system that does a poor job of managing the payment cycle.
Employers cannot continue to shoulder the burden associated with the rising cost of healthcare. As a result, they have begun to investigate more consumer-centric solutions designed to reduce cost by engaging the individual in his or her own health care decisions.
The Health Savings Account (HSA), enacted as part of the...
Hedge funds > Health Savings Accounts Receive Help from Mini-Meds
Things Your Mother Never Told You: Closing Costs
Buying or selling a home can be one of the most life changing decisions a consumer makes.
Being educated about the real estate process and investigating things you don't understand is essential.
Working with trustworthy and communicative real estate professionals is important.
A lot of money is on the line when purchasing or selling a home, so be sure to ask questions when you need to about charges, fees or other issues.You Gotta Have Faith!Three days after an initial application has been submitted the lender must provide a Good Faith Estimate of settlement costs (GFE).
The GFE is a list of closing charges and the HUD settlement statement you receive at closing is the confirmation of these charges.
Carefully review the GFE costs and question anything you do not understand.
When you receive the HUD statement the charges and fees should be familiar to you and reflect the GFE.
There shouldn't be any closing cost surprises.
...
Hedge funds > Things Your Mother Never Told You: Closing Costs
OnGaia.com - One of the Leading Real Estate Information Service Providers in India
(ContentDesk) May 19, 2006 -- OnGaia.com understands the need for Builder / Real Estate firms to advertise. The company offers an efficient and cost effective way to market properties online. If you have properties for sale or lease anywhere in India, expose them to a global audience.Marketing your Commercial / Residential property worldwide with no limitations on listing or search areas. Provide a simple and smarter way for clients to pick you out of the crowd. A level marketing field based on performance and customer service, not the most marketing funds.
OnGaia.com has selected very few Builders and Real Estate firms for listing in the Premium Business list special page for more visibility.
We invite you to post as many number of properties as possible and avail a special offer for 45 days of listing in the Premium Business list or Featured Properties in OnGaia.com home page. Looking forward to hear from you to explore together an opportunity that facilitates and increase...
Hedge funds > OnGaia.com - One of the Leading Real Estate Information Service Providers in India
Car Donations
Copyright 2006 Dave Markel
Car donation is a noble and easy way to contribute towards human service.
You can sponsor a new car or donate a used car to an organization or charity group which works in the filed of social service.
Organization, use this car, either for community need or sell it for raising funds for their activities.
How to donate a car If you have decided to donate a car you must examine whether you fulfill the following conditions:
? You should have the clear title of the car.
? The car you wish to donate should be in running condition.
? You can donate any vehicle irrespective of its make, model and other condition.
After you are sure that your car is in good condition for donation, you can start your search for the possible organization of your preference.
You can look for such organization or charity group either in local media or on internet.
After you find the right...
Hedge funds > Car Donations