Good Article on HSA's

[ABC]

Agents As Health Counselors - Health - redOrbit

I thought this was an interesting article. I am not sure what to make of it.
There study is showing a decrease in medical treatment.
It sounds to me that this article is worried about the people that are obese. I think these are the people that need to be on hsa plans.

 

[somarco]

The problem is simple math and a disconnect.

I'll use an example from yesterday. A business owner asked me to three way with his wife (no, not that kind of three way) to explain the HSA. He currently has a rich benefit copay plan . . . $20 OV, Rx copays a $2000 deductible then 100%.

For this plan he pays $800/month.

4 family members. Everyone healthy, no meds.

The HSA runs $350 per month for a savings of $450 per month.

He wants to do it, wife is balking.

She wants to know how much does it cost to go to the doc. I tell her $50 - $60 for a routine visit.

She still balks.

So I throw this out. Say it costs $60 to go to the do and you go 10x in a month. That's $600 in OOP that goes toward your $3k deductible.

With the plan you have now you would pay $200 in OV copays PLUS $450 to the carrier for a total of $650. None of that accumulates toward the deductible.

Repeat this for 5 months and you have satisfied your HDHP deductible but you are still paying for the copay plan and haven't made a dent in your deductible.

She wants to think about it . . .

For some reason insureds think if they pay $20 now and might have to pay $60 with the other plan it will cost them more. The one thing they fail to consider, even if pointed out to them, is how much they pay in premiums for the copay.

 

[dmiller90]

Why are you trying to convince a wife about a plan or convince anyone for that matter? She does not understand the benefits? Does it matter if it makes sense to you? I see this all the time, Why would you not just locate a Co-pay plan that saves them money and the wife is happy.

Trying to convince customers, what is best for them, or using math to explain the benefit, in my opinion is the wrong approach.

 

[JMO Fan]

Why are you trying to convince a wife about a plan or convince anyone for that matter? She does not understand the benefits? Does it matter if it makes sense to you? I see this all the time, Why would you not just locate a Co-pay plan that saves them money and the wife is happy and move on to the next?

Trying to convince customers, what is best for them, or using math to explain the benefit, in my opinion is the wrong approach.

This is like:
Sell heroin when they need aspirin.

Sell Twinkies when they need a gym membership.

Sell a Yugo when they need a Civic.

Maybe we need suitability rules for selling health plans.

 

[somarco]

FWIW, husband (and his company) are already my client. He wants the HSA and needed me to convince the wife.

That is his problem, not mine.

I already have them covered under the group plan. Husband would abandon the group altogether but he has some employees who are uninsurable.

So as an alternative, he wants off the plan and leave everyone else status quo.

While I appreciate the feedback, I do have a handle on what I am doing and how to accomodate my clients . . .

 

[moonlightandmargaritas]

Why would you not just locate a Co-pay plan that saves them money and the wife is happy.

Trying to convince customers, what is best for them, or using math to explain the benefit, in my opinion is the wrong approach.

Some folks will take the "path of least resistance" when it comes to client solutions. A true professional however, will make the attempt to present the best solution for the client. Sometimes, the client is just too dumb to get it...

One thing IS true...you can't convince anybody to do anything. You can however, help them convince themselves.

 

[ABC]

HSA's
Can be tough sales. People are so use to the co pay plans that is hard for them to think outside the box.

I try to sell them to every group I talk to. Almost half of my group clients are on them.
It can be a very tough sale to the hourly employee because they do not want to take any ownership in their healthcare.
Now this can turn into a good thing because that high perscription claims person will drop off the plan and go on their spouses. I have even had cases where these people have quit. It always comes from the employee's that are on anti depressents and multiple pain killers of some kind.
How productive can an employee be if they are highly medicated?

 

[somarco]

How productive can an employee be if they are highly medicated?

Good question.

Of course some would wonder how I managed to make it through college for similar reasons . . .

 

[SportsNut]

Sounds like wife simply doesn't want to "lose" anything in this transaction. Like many women, she may look at it that she owns the health Ins, as being hers, but the money and cost savings is his. She may not see this directly benefit her in the least. Many marriages work this way.

There are some deeper issues here, as is often the case. It is not about saving the money on the health ins.

Dr. Phil

 

[somarco]

There are some deeper issues here, as is often the case. It is not about saving the money on the health ins.

Dr. Phil

Wow. I have seen you on TV. It's interesting when posters are outed (or choose to out themselves).

But you are right. A few months ago the owner told me he and his wife were separating and he would be getting his own plan. Not sure where that stands and it really doesn't matter at this point.

Back to those personalities . . .

You are really Dr. Phil.

I have always wondered if Al is really Oprah.

Care to tell?