1Stop Blog

Our blog is a place for businesses and individuals to gather tips and education on insurance products to better prepare their coverages at the most reasonable cost.

Insurance Blog

This views, information, and comments in this blog should be understood as the personal opinions of the author and provide only a simplified description of coverages and is not a statement of contract. Insurance products and coverages may not apply in all states.

Health Care: Brace for shorter enrollment season and higher rates

Wednesday, September 06, 2017    

Rates have been filed across the country and the outlook is not great. Not only will individuals have to sign up for coverage within 45 days, but the choice will also be limited. Across the nation, 42.41% of counties will only have one insurance carrier to pick a plan with and 1.27% of counties are projected to have no carriers at all. Premium rates for larger networks of providers or offering out-of-state or out-of-network coverage will increase upwards of 59%. Meanwhile, the maximum out-of-pocket cost for individuals and groups will be raised to $7,350 for self-only coverage and $14,700 for family coverage. Still, upwards of three-quarters of individuals will be insulated from rate hikes by staying with the high out-of-pocket benchmark plans using the subsidies offered through the Affordable Care Act. Individuals earning less than 250% of the Federal Poverty Level will also be shielded from higher out of pocket costs unless of course, President Trumps stops the cost sharing subsidies. As of this date, it looks like individuals earning over 400% of the Federal Poverty Level will pay an average increase of 22% with Horizon of New Jersey on their popular Omnia Silver plan. AmeriHealth is asking for as much as a 59% increase on some plans. Eastern PA residents seem to be spared with Keystone Health Plan East looking for a 4.6% increase on individuals but 10.18% on small group plans. In New York, the average increase is 14.6% for individuals and 9.3% for small groups plans. Looking at these price increases, it is strange that Eastern PA, with only one insurance carrier, is offering coverage with the lowest rate increase while NJ, with 3 carriers, and NY, with 15, cannot say the same. Still, these rate increases on top of last year's increase will make insurance unfordable to many paying the full cost for coverage. 1 Stop Benefits Inc. will continue to stay on top of all the changes in the insurance world, and seek out ways to find high quality, low-cost care for everyone. We strongly suggest you contact us right away and as about our enhanced supplements to fill the gaps in any health plan. Some of these low-cost cash benefits will not be available to new clients as of the new open enrollment. NJ residents should view this Flyer because you only have up to November 15 to purchase.

Everyone loves a sale... Save on your medical/dental coverage!

Wednesday, September 06, 2017    

We can see this in the news all of the time. For example, the recent merger of Amazon with Whole Foods has sent many, including the media, into lively discussions about price cuts and possible Amazon Prime benefits. Many times, we see the purchase of an item or service being justified by its sale pricing. I often ask my children, "a sale on what?" After all, sales often follow after price hikes on items, making a sale seem to be a bigger discount than it ever really was. Marketers use the word "sale" to evoke quick decision thinking, and while this tactic has been used forever, we still fall into the notion that we are getting a bargain. Using the word "Sale" in the medical or dental industry does not have the same impact to drive a reaction. Most people would not have a surgery because the treatment was discounted. The majority of us also would not sign up for another dental cleaning just because there was a discounted rate. So, the fact that anyone can get a discount when obtaining medical or dental care does not motivate an immediate reaction. You may react quickly to a medical device or vitamin on sale, but you are more likely to schedule a yearly physical based on your insurance plan offerings. While everyone would prefer better health or cleaner teeth, many label the treatment and maintenance required as too costly. Part of this problem in the medical/dental world is lack of awareness of the cost of care. The average person has no idea if the price they are paying for healthcare is reasonable. Moreover, people develop relationships with their dentist or doctor, making shopping for affordable care more complicated. With the right insurance coverage, every family can find a true "sale" on medical/dental care. Discounts in the world of health care do exist (and never at the expense of quality!). Being better informed about the costs of your providers and the benefits of your insurance plans can help you always get the most for your money. Give a 1 Stop Benefits representative a call and ask about the WellCard Saving program and our pricing links to find out what is a reasonable cost for any type treatment or prescription in your area. Click to call.

Calculating Life Expectancy: Planning For Your Future

Wednesday, September 06, 2017    

The average American male lives to age the age of 84 while the average female lives to 86 years old. Of course, these estimates do not take into consideration family history or personal life habits. We recommend checking out an online life expectancy calculator to take into consideration your unique circumstances. Either way, Americans in general lead long lives - and we certainly do not expect ourselves to work all of those years. This is why planning for retirement as early as possible is important. While we may be living longer, more and more individuals are being diagnosed with chronic health conditions. Over 40% of individuals will have at least one chronic condition diagnosed before the age of 65, and 70% of individuals will need long-term care sometime in their lifetime. With the high likelihood of a critical, chronic or long-term health care expense, there is great need to plan ahead to offset those exuberant costs. Unfortunately, government resources cannot be relied upon in the future - with programs like Medicare, Medicaid, and Social Security facing huge funding issues. You may already be aware that insurance plans exist to cover the cost of long term and critical illness care. It may be difficult to think about purchasing such care. Many believe it to be expensive or unnecessary. However, one just needs to look around to family, friends, and neighbors to see individuals suffering from the financial impact of unexpected medical treatment and assisted care. The viatical and senior settlement business rose out of the need for terminally individuals to gain additional money to cover their excessive medical costs. Terminally ill individuals sell their life insurance coverage in order to support themselves. However, a new form of life insurance has recently emerged and offers living cash benefits as a part of the policy. Living benefits built into a low-cost term and permanent life insurance gives younger adults a huge reason to purchase coverage now, especially because there is no telling what the future holds. This coverage is not a replacement for the purchase of disability or long-term care insurance, as those plans offer much more robust cash benefits as a result of short term illnesses or non-life altering conditions, especially during one's earning years. However, purchasing a life insurance policy with living cash benefits may help reduce some of the burdens we all may face as we grow older. To learn more about life insurance with living cash benefits- talk to us at 1 Stop Benefits Inc.

Phone: (215)321-6481 - Toll Free: (800)662-3920

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1032 Radcliffe Street, Historic Bristol, PA 19007

  1032 Radcliffe Street
  Suite B-9
  Historic Bristol, PA 19007

Hours: Monday - Friday -- 8:00 am - 5:30 pm -- Sat & Sun by Appt.

  Monday thru Friday
  8:00 am - 5:30 pm
  Sat & Sun by Appt.
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Important Note: This website provides only a simplified description of coverages and is not a statement of contract. Coverage may not apply in all states. For complete details of coverages, conditions, limits and losses not covered, be sure to read the policy, including all endorsements.