#036 Power To The Patients - Why You Need To See Prices explains why Hip Hop artists Fat Joe, Rick Ross, Busta Rhymes, Method Man, French Montana and Chuck D are spot on in the public service announcement demanding price transparency in health care. Watch the PSA here
#034 Is Your HSA Ready For Next Year explains the steps you need to take now to be prepared for January 1st so that your HSA has you 100% covered for the entire year.
#035 - Why You Need To Tell Your CEO You Want Fountain Health explains why you need to speak up so that you and your family can be healthy and well with the proactive and preventative benefits from Fountain Health compared to what you only have now.
#033 - If you don't know about Fountain Health, you are missing out on the most revolutionary idea to hit health insurance since 1965 and the advent of Medicare. Scott W. Dowling explains how Fountain Health is better than your traditional plan - saving lives while saving money. Learn what makes Fountain Health different and how it helps your company, your employees and their loved ones.
#032 - So How's Your HSA Look In The Middle Of The Year helps you to determine if you are short of dollars needed to cover an accident or sickness right now and the rest of the year, how you can fix that now and whether or not you need a new strategy for 2023. Scott W. Dowling explains the calculation needed to figure out if you are short of HSA funds in the middle of the year. You may need to contribute to your HSA out of your own pocket now, he explains. And, if your employer is contributing b...
#031 - HSA - How To Start Your New Year illustrates what you need to do at the start of 2022 to be 100% covered and have peace of mind no matter what health insurance claims you may incur during the year.
#030 - Why Your High Deductible Health Plan Is Not As High As You Think exposes the misperception that an HDHP is too expensive. Scott W. Dowling provides a real world example - from close to home - that illustrates why there is no advantage to having a traditional low deductible plan and how it ultimately costs you more compared to a High Deductible Health Plan. Focus on Out Of Pocket Maximum - Not Deductible The total amount you may spend on an insurance claim includes the amount you pay for t...
#029 - How To Structure Your Health Savings Account gives you a list of ten (10) easy steps to ensure that you are 100% covered by your High Deductible Health Plan and Health Savings Account from the Get-Go! Enroll in a qualified High Deductible Health Plan (aka HDHP) Open a Health Saving Account (aka HSA) - click here to see the HSA I use Identify your Enrollment and Effective Date for your plan year Review ALL of your plan options Check your existing savings Calculate Out Of Pocket Maximum Det...
#028 - What Is A High Deductible Health Plan And How Can It Help Me? explains what kind of health insurance plan you can have so you can open and fund a Health Savings Account. Scott explains the basics so that you can get 100% covered and spend the least amount of money possible. High Deductible Health Plan Requirements In order to open and fund a Health Savings Account, the Internal Revenue Service requires that a the insured be enrolled in an eligible High Deductible Health Plan. The requirem...
#027 - Your employer is really your health insurance company. Two out of every three (67%) Americans who get their health insurance through their employer are in a self-funded insurance plan - which means your employer is paying the claims, not an insurance company. 2020 Kaiser Family Foundation Survey - 2 out of 3 Employers Are Self-Funded Scott considers the unfortunate comments of someone who has met their insurance plan's annual out of pocket maximum in June and wants to load up on perceived...
#026 - HMO PPO EPO WTF IDK NVM Part 2 looks at how HMO and PPO networks have run their course, what approach employers are now considering and what employees can expect in the near future. Healthcare Is Not Health Insurance The entanglement of healthcare and health insurance has led to rampant medical inflation for decades, much higher than the rate of inflation for the overall US economy. The genesis of the rapid increase in the rate of medical inflation can be linked to the introduction of Med...
#025 - HMO PPO EPO WTF IDK NVM takes a look at the health plan terms you see all of the time, but know nothing about. Scott W. Dowling tells you what you need to know and what you don't. This is the first of two shows discussing so-called networks and how they affect the price of your health insurance. Health Maintenance Organizations are said to have started as prepaid medical care for loggers in the Pacific Northwest dating back to 1900, but the first prominent HMO was started by Henry J. Kais...
#024- Traditional PPO vs. High Deductible Health Plan With Health Savings Account answers the question posed by an anticipated Dad to be. Is it better to switch from a high deductible health plan (HDHP) with Health Savings Account (HSA) to a traditional PPO plan due to a possible family addition? Listen in to what Scott has to say! Most people do not understand how Health Savings Accounts work, nor how they help you save REAL money. Would you light a match to a dollar bill? Then why are you not ...
#023 - Reprise: Why You Save By Getting Your Health Insurance Through Your Employer is an encore presentation of one of our most listened to episodes. Learn the advantages and reasons why you win, your employer wins and the insurance company wins when your employer provides health insurance as an employee benefit. History Of Employer Sponsored Health Insurance In Dallas, one of the earliest known employer sponsored health insurance plans was arranged by Baylor Hospital to benefit public school e...
#022 - Reprise of Health Insurance Open Enrollment Make It Simple, Episode 2. Get ready for Open Enrollment now so that you have the fundamentals down….get out ahead….don’t wait until October when stress will be highest and you might make a poor choice. For some employees, this show is quite timely because many employers have renewal dates on July 1st. Ask your employer the date that your health insurance renews so you can be properly prepared! Doxcost Episode 2 Get Health Insurance Plan Documen...
#021 - Reprise: Don't Fear The High Deductible is an encore presentation of our most popular show. Health Savings Accounts (HSAs) work with High Deductible Health Plans (HDHPs) save you the most money, period. In order to open a Health Savings Account, you must be enrolled in an eligible High Deductible Health Plan. Most people see High Deductible and get scared away. High Deductible Health Plans go as low as $1,400 for an individual in 2021 and $2,800 for households with two or more. Learn more...
#020 - Your money is being taken from you and you don't even know it. Your health insurance premiums are higher, in part, because you sign away your health insurance benefits to third parties who act in their best interest, not necessarily yours. Assignment of Benefits (AOBs) is essentially demanded by hospitals, doctors and pharmacies before they will serve you. You probably don't even know it, either. You are presented a bunch of documents, don't read them, sign bottom of the page and then the...
#019 - I Hate Insurance and other comments about health insurance and healthcare are highlighted in a snapshot look at how people view their current situation within the health insurance and healthcare systems as exclaimed on Twitter. Follow @doxcost on Twitter Lots of angst and anguish can be found on Twitter. We decided to take a look and see what is really bothering people about health insurance and healthcare. Scott puts "I Hate Insurance" in the search box. Some comments are amusing, some i...
#018 - Learn how an HSA will earn you a quick and easy return by making an eligible deposit before you file your taxes. An HSA is like getting free money! Don't Pay FICA or Federal Income Tax (some states still tax your HSA deposits) FICA = Social Security Withholding AND Medicare Withholding = 7.65% of your paycheck Federal Income Tax Withholding = 10% to 37% Maximum HSA Deposit in 2021 Individual - $3,600 Head of Household/Married/Family - $7,200 per year You keep the money instead of paying U...
#017 - Healthcare.gov review is a cursory look at the current exchange portal. The site provides access to insurance plan options for the 50 states and District of Columbia. Links can be found for both the federal website and individual state exchanges. Go to Healthcare.gov here This Healthcare.gov review still keeps in mind that the goal is to get 100% covered and spend the least amount possible on your health insurance. This is best done utilizing a High Deductible Health Plan (HDHP) along wit...
#016 Insurance company transparency is required by both the Affordable Care Act and the new Hospital Price Transparency rule that took effect on January 1, 2021. Learn how insurance companies are complying and how (if) that helps you. The Patient Protection Affordable Care Act, aka Obamacare, requires insurance companies to publish the prices they negotiate and amounts they pay to doctors, hospitals, pharma and other providers. Learn about the PPACA here Insurance company transparency required b...
#015 Learn how Hospital Price Transparency rule, as directed by Obamacare, Trump administration rule and Biden administration execution, will help you take control and save on your health insurance premiums and out of pocket costs. As of January 1, 2021, hospitals must publish and provide consumers the price of the services before providing their services. You, the consumer and patient, need to ask (demand...nicely) that the doctor inform you of the cost of the procedure before you agree to unde...
#014 - Providers of health care - hospital, doctors, pharma - operate to make a profit, whether they say so or not. Are you paying too much? Yes. While insurance companies are often the recipient of consumer ire for the rising cost of health insurance, the cost inputs to those insurance premiums - most notably paid claims (aka the cost of doctors, hospitals, pharma and other providers) have the most significant effect on the price of your health insurance premiums. These input costs need to be e...
#013 - Learn why the amounts paid to doctors, hospitals, pharma and other providers are the single biggest factors in the cost of your health insurance. Understand how underwriters and actuaries use historical paid claims to forecast future claims, establish reserves and keep pace with inflation. These amounts are then utilized to create the health insurance rates that you pay. Paid claims are the amounts paid, on behalf of members of the employer group or individual pool, to doctors, hospitals,...
#012 - Learn what everyday stuff underwriters use to price your health insurance. Control what you can and forget the stuff that underwriters use, everyday stuff, like your age, sex and ZIP code, that is arbitrary and you cannot change. If you live in New York or California, your rates are likely to be much higher than the person that lives in Nebraska or Mississippi. It's not your fault, just an economic reality. If you live in a low cost state, expect lower claims cost....if most of the employ...
#011 - Learn the components that affect the price you pay for your health insurance so you can save your hard-earned dollars. This is Scott Dowling's second in a series of episodes that will help you understand how your health insurance is priced. Scott presents the cost components in easy-to-understand way. Get the episode freebie here: DOWNLOAD: What Makes Up A Dollar Of Your Insurance Premium In the next episode, we'll look the specific variables that underwriters look at when pricing your sp...
#010 - Learn how your health insurance is priced by actuaries and underwriters as they look at group vs. individual risk. Health Care is not health insurance! Our mantra! Our cry! Don't let anyone fool you......your health insurance coverage is for you, not anyone else. Your health insurance transfers your risk of financial burden to the insurance company in the event of an unforeseen accident or sickness. The payment is to you by way of your contract with the insurance company or your employer'...
#009 - Know what you have! Grab your policy or the plan outline provided by your employer and review your coverage now, at the beginning of the year. Understand what you will have to spend if and when a claim arises and set money aside, as best as you can, to cover the total. Know the following: Deductible amount Your percentage share of Coinsurance Your Out of Pocket Maximum (OOP) Your premium - over the course of the year, not just for one month or one pay period If you have a spouse and/or ch...
#008 - Health Questions posed by Jamie Crosier of Organize Like A Pro podcast. Jamie and her listeners have questions just like you! Doxcost is here to help. Learn why your premiums are lower and you save when you Organize Like A Pro and utilize a High Deductible Health Plan. When you have a Health Savings Account, you can budget and plan to be 100% covered and spend the least amount of money every year for health care expenses. You have questions! Submit your questions @ https://doxcost.com/ask...
#007 - By filling up your HSA now, with the maximum contribution for 2020, you will virtually eliminate any surprises for 2021. Plus, you'll get a nice return on the money you contribute now when you file your 2020 taxes in a few weeks. By maximizing your contribution to your Health Savings Account, you can help ensure you have 100% of your deductible covered for 2021. Doxcost is all about getting 100% covered and lowering the cost of your health insurance. Stick with Scott W. Dowling as he show...
