Pandemic Spotlights Need for Consumer Insurance Ed

Here’s a real opportunity to make your clients happy and insurance smarter! A new survey  from the National Association of Insurance Commissioners (NAIC) shows that, overall, 47% of consumers surveyed say they don’t understand what their health insurance plans will pay for when it comes to coronavirus testing and treatment. And of the respondents who have been tested or treated for coronavirus, 34% of them say they received a bill that they expected their health insurance to cover.

NAIC says that the survey results point to shortcomings by insurance companies, insurance regulators, health care providers and — dare we add– agents/brokers in making cost information clear to consumers. From NAIC:

The health insurance knowledge gap goes beyond the pandemic to understanding basic health insurance plan features. Nearly one-third (32%) of consumers surveyed didn’t know how much their health insurance deductibles were and 25% weren’t aware of their co-pay amounts. The knowledge gap is even wider among younger consumers: 45% of those ages 18 to 29 didn’t know their deductibles and 39% didn’t know their co-pay amounts. For younger respondents, there is also confusion around what these basic health insurance terms mean. Over half (51%) of surveyed 18-29 year-olds could not accurately define what a deductible is and almost half (48%) couldn’t correctly define what a copay is.

Check out the survey. Perhaps you can use this info in your next client communication and make your clients real health insurance smarties.

CAHU Summit Changes LAAHU Happy Hour — Just this week!
We hope you’re enjoying the CAHU Summit today. Because of the Summit, there’s been a slight change to the LAAHU happy hour schedule…LAAHU’s Zoom happy hour will now be on Oct. 14 from 4 to 5p.m. The LAAHU happy hour is great way to meet other professionals in the industry. Space is limited. Register here.

Advocates For Civility and Moral Leadership

Are you nostalgic for the old handshake days? Check out this TedTalk by Regan political appointee Shelby Scarbrough, author of Civility Rules!: Creating A Purposeful Practice Of Civility. Scarbrough says that now more than ever we need a refresher course on basic social graces. Yep! Over at the Ford Foundation, Darren Walker says it’s imperative that we insist on moral leadership.

EMPLOYEE BENEFITS

PayPro Launches ‘Let’s Chat Pat’, $0 Set Up for Ease & More

PayPro Administrators has been busy! PayPro has been working since January on the rollout of the new platform for Account Based Plans. From the company:

FSA, HSA and HRAs are housed in a single platform allowing for multiple accounts, separate debit card purses, and a personalized experience for both plan sponsors and participants.

In October, PayPro also launched “Let’s Chat Pat”, which utilizes AI technology to provide quick answers and 24/7 help for participants. The technology platform includes employer role based technology, an uptime of 99.999%, a mobile and participant portal and more.  In addition, PayPro Administrators announced its moving to $0 set up fees and $0 maintenance fees for Ease. The fee change goes on a prospective basis effective November 1, 2020 and will automatically be applied to both current clients and those clients of the future. Even more news: PayPro Administrators also says it is eliminating fees for EDI maintenance. Get info here.

MEDICARE

Walmart Selling Medicare Plans

We’re not sure many agents will appreciate this, but Walmart shoppers might…The retail giant will now sell Medicare insurance plans. From Walmart:

We’re building on our commitment of offering quality health services at low, transparent prices by launching Walmart Insurance Services, LLC, a licensed insurance brokerage, which will assist people with enrolling in insurance plans—and simplify what’s historically been a cumbersome, confusing process. Walmart Insurance Services will begin selling Medicare insurance plans during this year’s Annual Enrollment Period (AEP), Oct. 15 through Dec. 7.

At launch, Walmart Insurance Services will provide Medicare plans (Part D, Medicare Advantage and Medicare Supplement plans) offered by Humana, UnitedHealthcare, Anthem Blue Cross Blue Shield, Amerigroup, Simply Health, Wellcare (Centene), Clover Health and Arkansas Blue Cross and Blue Shield. The company says carriers may be added in the future. Walmart Insurance Services is licensed in all 50 states, plus Washington D.C., and has built a team of licensed insurance agents.

Aetna Says 2021 Plans Focus on Total Health

Aetna , a CVS Health company, recently announced its 2021 Medicare offerings. The offerings feature increased integration with CVS Health; expanded and differentiated Medicare Advantage plan options, including HMO and Dual Eligible Special Needs Plan offerings in new states; new Aetna Medicare Eagle plans designed especially for Veterans; and the lowest premium standalone prescription drug plan product in all 50 states and D.C. They are also now using U.S. figure skater Dorothy Hamill as a new Medicare spokesperson. More info here.

MENTAL HEALTH

CHE Behavioral Announces Agreements with Dozen+ California Insurers to Cover Telehealth

San Diego-based CHE Behavioral Health Services announced that telehealth treatments are now covered for millions of California residents. CHE launched its telehealth platform in response to the overwhelming mental health needs arising from the COVID-19 crisis – telehealth appointments have skyrocketed by 3900% in California. CHE, which has historically provided behavioral health services in skilled nursing facilities, is now able to reach patients who are 21 years and older with its virtual psychotherapy. The California insurance companies that currently approve telehealth appointments from CHE professionals include but are not limited to:

• Medicare/Medi-Cal
• Aetna Health
• Anthem CA
• Blue Shield of CA
• CareMore Health
• Cenpatico
• Cigna
• Humana
• IEHP
• Magellan
• MHN-Healthnet
• Molina Health Plan
• UMWA
• Universal Care-Brand New Day
• Scripps Health
• Sharp Healthcare

For those covered, virtual psychotherapy is available at little to no cost.  Appointments can be scheduled by visiting the company website at https://www.cheservices.com/telehealth.

LTC

What’s Up with LTC?

Insure.com recently assessed the coronavirus’ effect on long-term care insurance. Researchers evaluated changes to the application and approval process as well as pricing.

Since COVID-19 emerged, Insure.com says LTC has experienced the following changes:

• Many insurers temporarily restricted applications for coverage and required additional steps in their application process.
• Some insurers declined applications from people in their late 60s or older.
• Other insurers reduced the maximum age for benefits to as low as 65.
• Many insurers required applicants to wait 3 to 6 months after a negative COVID-19 test before applying for a policy.
• Long-term care insurers expedited younger applicants’ applications, in some cases.
• Some insurers are charging between 5% to 50% more for coverage and are reducing spousal discounts by as much as half.
• Filing long-term care claims has become more complicated.

For the entire report, read: How COVID-19 is affecting long-term care insurance.

FINANCIAL PLANNING

EVENTS