It seems that some form of health care will pass into law at some point in this administration. The question is how will this effect the stock market and your portfolio? Especially if you own health insurance companies. Of course on does not really know what is going to pass. Therefore it is best to prepare your portfolio for some sort of “news jolt” when health care reform passes.
Look for the missing pieces – does your plan provide coverage for all the necessary elderly home care? How about mental health care, dental care and vision care?
You should understand that with rising hospital costs, health insurance costs also rise. But the problems with health insurance policies are not just costs. For instance, there are cancellation policies, where the insurer can cancel the policy if the insured falls ills too many times. Though it sounds unfair, such policies exist. So, choose a non-cancellable policy, where the company cannot cancel the policy as long as the insurer pays the premium.
The contracted rate is a critical component of the insurance industry. In my opinion it is the single most important aspect for why everyone should have coverage. The usual and customary charge by any physician, hospital, pharmacy, or lab facility is a fraction of what the charge is with health insurance versus not having coverage.
Compare your skills to those that people are needing to have done. Do some research to determine if there is a market for what you can do. Simple skills like laundry, bed-making, dusting, and helping an elderly person take a bath are in demand. If you can add transportation to medical appointments and grocery shopping to your list of services, you’ll find a lot of people who are looking for just a person like you.
Is the facility clean, well lit, and safe looking? Are there safety and emergency equipment available in case something goes wrong? Is there a lot of play equipment and toys and things of this nature?
There are four leading proposals being discussed. One, proposed by the President, would enact an 8% payroll tax for employers that are not providing or paying enough health insurance for their employees. Another, proposed by Senator Kennedy, would levy a $750 per employee annual charge for those same employers. The third sits in the Senate Finance Committee-this doesn’t include any pay or play provision. That won’t happen. The fourth involves an invasion and takeover of Canada, but that one’s losing ground because no one wants to go to Canada.
This is not a decision I plan on putting off till 2013. I need to choose a direction soon. I’ll need to discuss it with my employees and make sure to help them with the transition. I can’t just yank their health-care coverage on the last day of 2012. I have to give my people time to adjust if I want to keep them happy. Maybe these reforms can provide so much extra coverage that I can start taking steroids-pretty much the only way I’ll ever hit one out of the infield.