HEALTH & LIFE Insurance Brokerage & Consulting Services, Indianapolis, Indiana
~ Protecting the Middle Class from Bankruptcy by Healthcare ~
WHAT DOES DMC GROUP THINK ABOUT THE FUTURE OF HEALTH CARE AND THE AFFORDABLE CARE ACT?
Good question… that has kept me busy the last three years speaking about Obama healthcare and the Affordable Care Act (ACA) to groups and doing public television interviews. Often the question was about which political party would be best for our country during the election year. My point was always that both parties had their biased proposal for healthcare delivery but nothing was being said about controlling healthcare costs.
Are low cost health insurance plans a thing of the past? YES, IF YOU DO NOT CONSIDER OPTIONS UNDER THE AFFORDABLE CARE ACT!
The 1st year of OBAMA CARE is behind us; The average Indiana resident who did not sign up when required will pay a $388 penalty. Next year’s penalty could be $776 for the average Indiana resident. Those penalty amounts would be even more for residents with ABOVE AVERAGE income levels. DMC GROUP may be able to HELP avoid a penalty!!!!
On top of ‘normal’ year-to-year health care cost increases we have the immediate reaction of insurance companies raising rates to cover the ACA administrative costs (forms, training, etc) and further increased by anxiety over the unknown. We cannot rely on the old normal (4%-8%) for projecting annual rate increases. The new normal rate increase is yet to be discovered but springs forth with 20%-80% rate increases being seen in 2013 – 2014.
Health care cost increases are in the face of an expanding senior population that naturally require more expensive care at a time when the supply of doctors willing to accept Medicare insurance plans is dwindling. I do not like the vision of a tsunami effect in healthcare costs approaching when it’s already the #1 reason for new bankruptcy affecting the middle class of all ages.
Some good Obama Care (ACA) things have already happened such as no more lifetime or annual limits, no pre-existing condition issues, children under 16 covered on parents insurance, free annual preventive care, cannot deny children and others are being phased-in during the next 24 months There will be penalties for individuals, families and employers who do not offer healthcare benefits with rates modified by a needs based assessment. Surveys have shown that employers are willing to accept the $2,000 penalty per employee because it is cheaper than paying for benefits.
Healthcare changes won’t happen overnight BUT will slowly eat away at benefits while raising insurance premiums at a record pace . As part of the Affordable Care Act, the IPAB committee will soon act on their responsibility to cut Medicare insurance plan benefits and cut reimbursement to doctors accepting Medicare patients. Taxes to help shore-up Medicare and Medicaid like the new .9% payroll tax on top of the usual 1.45% for “high income” individuals over $200K and couples over $250K. Then add 3.8% more new Medicare tax on unearned income and investments.
Some of this turmoil could boil down to a common phenomenon of having inadequate resources to enforce compliance in the same way that the government currently ignores Medicare fraud by small time crooks. We might be grateful for that to be true as attempts to finance Health Care Reform measures further stress our federal Medicare and state Medicaid programs . Middle class people, responsible for the high cost of care associated with their own declining health, may suddenly be subject to new Medicaid estate recovery laws that could make children responsible for their parents long term care costs as well.
It is feasible that families facing such financial stress might take desperate measures to qualify for Medicaid medical assistance. The clincher: Congress introduced the ‘Codification of Economic Substance Doctrine’ which gives the IRS sole authority to close any ‘perceived’ loop holes where they deem a transaction was made with intentional purpose of avoiding taxes or qualifying for government benefits. If you don’t make enough money on the deal then it must have been for the sole purpose of avoiding taxes or penalties.
In addition to the before mentioned improvements, some changes are good like taxes on insurance companies, pharmaceutical companies and medical equipment manufacturers which comprise the highest profit margin players in the game.
Those taxes and fines were supposedly intended to help control healthcare costs BUT in fact they are allowed to be passed on to the consumer.
Where is the Codification of Economic Substance Doctrine when the middle class needs it!!
The need for integrating healthcare planning and retirement planning information has never been so important to your financial stability in this fast changing healthcare industry. The overlapping involvement of health care in government programs like Medicare, Medicaid, VA and Social Security underscore how crucial it is to have a retirement planning consultant with the ‘Big Picture’ view of all these risk factors. Having a separate insurance broker, retirement planning consultant, attorney and financial planner requires extraordinary coordination of services and increases the possibility of someone on your team ‘dropping the ball’.
Call DMC Group to secure your Team Leader with 35 years experience in healthcare, government benefits, retirement planning and elder law. The DMC Group Life Care Planning model provides the most efficient and effective point-person to help manage your retirement and healthcare planning. You don’t have to try to bring all the pieces of your retirement planning together by coordinating the work of different professionals. Click below to get started!
Mark Twain once said, “NO MAN’S LIFE, LIBERTY OR PROPERTY ARE SAFE WHILE THE LEGISLATURE IS IN SESSION“.
Today’s healthcare industry is a complex, twisted knot of Government programs & Insurance Business. A whole new layer of government red-tape has developed from HEALTH CARE REFORM.
No wonder so many new financial bankruptcy cases are hitting the middle class. No wonder they don’t see it coming until it’s too late because they have only been fed the ‘Small Picture’ view of healthcare.
DMC GROUP is all about sharing the ‘Big Picture’ view of healthcare and government benefits with it’s customers through carefully considered planning options and FREE consultant support. Much of the passion for the company’s service model to any age group comes from all the Mildred’s that once cried in my nursing home administration office about loosing their life savings due to healthcare costs. Mildred’s Story sadly reflects the old adage that ‘A Failure to Plan is A Plan to Fail’ .
DMC GROUP also shares it’s ‘Big Picture’ view through the public education speaker series from the not-for-profit organization Next Steps Beyond 50.
MONEY DOESN’T GROW ON TREES BUT MONEY CAN BE SWEPT AWAY BY THE WINDS OF CHANGE –
That’s why you need an Insurance Broker headed by a Certified Healthcare Consultant , Government Benefits Specialist and Retirement Planning Consultant with legal experience to help you make good, sound financial decisions and develop a strategy for your future.
FOR THE EXACT SAME MONEY:
SALES AGENT or BROKER/CONSULTANT?
DMC GROUP SERVICES OVERVIEW
Most new bankruptcy cases are due to healthcare costs. Statistics show that accidents and critical illness represent nearly 85% of financial risk for younger persons that is not covered well by health insurance plans. It’s no wonder then that almost half of nursing home patients are under 65 years of age. That’s right, they are…..as a former nursing home administrator, I saw younger patients continuously cruising in and out while they obtained therapy following an accident, heart attack, stroke or illness.
Life Insurance and Annuities
Life insurance and annuities can be an important part of retirement planning information while providing a death benefit if you die; release family from the emotional burden of worrying about funeral arrangements; and help provide financing for long term care (at-home, assisted living or nursing home) or to continue to living with a critical illness or disability.
Starts with choosing the best Social Security retirement option out of 9 options for a single person or the best option out of 81 possible for married, divorced or widowed individuals.
Save as much as you can as early as you can. Though it’s never too late to start, the sooner you begin saving, the more time your money has to grow. Gains each year build on the prior year which shows the power of compounding as the best way to accumulate wealth. So, when you have got something then the question becomes:
How to keep what you got from the ‘Vultures’ and NOT outlive your money?
I would be negligent if I did not mention the importance of maximizing your Social Security Retirement as a foundation for the future. Call DMC Group to get your comprehensive Social Security Timing Report and bring the foundation of your retirement strategy into focus.
You could be leaving over $100,00 behind by having the local Social Security Office calculate your retirement pension benefit.
DMC Group can help minimize your financial risk in retirement and estate planning while protecting your right to government benefits like Social Security, Medicare, Medicaid and VA.
No matter your net worth, it’s important to have a basic estate plan in place. Such a plan ensures that your family and financial goals are met after you die. Estate Planning can also involve careful use of a Trust and other insurance options to convert your personal assets from countable to non-countable ones that could become the basis for protecting what is yours.
The comprehensive planning approach from DMC Group that draws on career experience in health care, legal, financial and government benefits. Call US Now to get started.
Hours of Operation
Monday-Saturday from 9:00 AM to 6:00 PM
Closed on all major holidays
Indianapolis, IN. 46236
By Phone: Local (317) 823-3713
Toll Free (800) 919-2676
By Email: email@example.com
By Text Message: Text to: (317) 748-1942