Las Vegas Broker Helps Client Navigate System, Says Many Purchased Wrong Plans When ACA Debuted
For some, finding the correct health insurance plan can mean the difference between life or death — or going bankrupt. Patrick Casale, Managing Partner of The MultiCare Group United States Division, helps clients understand the system and find coverage that’s right for them.
“I’m going to sell you a policy that you need, and it won’t cost you a penny more,” Casale says.
According to Casale, who has 28 years of experience, knowing how today’s insurance out-of-pockets work, along with co-pay, premiums, deductibles and tax credits, is not something the typical consumer is prepared to understand.
“It’s a new wave,” he says. “When the Affordable Care Act (ACA) first came out, a lot of people bought the wrong plans.”
Casale added that a good broker will explain all of your policy’s intricacies: “What you get with me is a guy who shows you how the system works, who maximizes your benefits and your dollars. You need the right person helping you get answers.”
Casale’s job is to ensure his clients receive maximum benefits.
“I provide them with the facts,” he says. “Paying more doesn’t necessarily mean you’re getting better coverage or better service or more choices for doctors. Paying the most doesn’t translate into getting the best.”
According to Casale, someone who is reasonably healthy should consider a Health Savings Account (HSA) — a tax-advantaged medical savings account available to taxpayers enrolled in a high-deductible health plan — because it offers lower out-of-pockets, and premiums are about 25 percent less.
Funds contributed to an HSA are not subject to federal income tax at the time of deposit, and unlike a Flexible Spending Account, HSA funds roll over and accumulate year to year if they are not spent.
“There’s the ability to set aside tax-deductible expenses that you never lose if you never use,” Casale says.“The tax advantages actually end up reducing your overall expenses. In fact, if you are really sick and know that you will hit your out-of-pocket maximum, the HSA is your best option.”
“In the last four years, we’ve seen premiums and out-of-pockets dramatically rise. Premiums are 400 percent higher since the adoption of the ACA, and out-of-pockets are now 125 percent higher,” Casale says.
In 2019, the penalty for not having health insurance has been waived, which Casale says will allow consumers to find programs that best fit their needs and budgets. He plans to work with lawmakers in the upcoming legislative session to reduce premiums.
“The average American should not be spending $20,000 a year on health insurance,” he says. “We’re not able to save money for retirement because we’re trying to save money for health care costs.”
The MultiCare Group has more than 25 years of experience specializing in all aspects of employee benefits. Known as “change leaders,” it is a full-service corporation made up of professionals in the areas of fully ensured programs and self-funded programs and is fully compliant with the Affordable Care Act (ACA).
For more information, visit http://www.themulticaregroup.com/