Long Term Care Policies in trouble?

Several events this past week are concerning about the financial viability of Long Term Care Policies. In South Carolina, rate increases filed with the department of insurance last week requested between 143%-259%. The Director of the insurance department turned down those increases, which leads to the second event. In New York, Genworth (the largest writer in the past few years …

Blue Cross Blue Shield SC Formulary Changes

Exclusions for many certain high-cost brand drugs that are no more effective than medications already available are among the latest updates to BlueCross BlueShield of South Carolina’s drug formulary, with most of the changes taking effect July 1, 2018. We work with an independent panel of BlueCross network physicians and pharmacists, the Pharmacy and Therapeutics Committee, to develop and maintain our …

Blue Cross Blue Shield SC addresses Opioid Epidemic

From Blue Cross on February 1: As our state and nation mobilize to address the opioid abuse epidemic, BlueCross BlueShield of South Carolina is committed to doing its part. Starting April 1, 2018, new limits on opioid prescriptions will take effect for all employer groups with BlueCross pharmacy benefits. We work with an independent panel of BlueCross network physicians and pharmacists, …

Using an IRA Trust

What is it? What kind of benefit could it provide? Provided by Reeve Conover, Conover Consulting Seemingly everyone has heard of an IRA, but few people know about IRA trusts. Perhaps more people should, for an IRA trust may provide a way to “stretch” IRA assets for decades to benefit multiple generations.

What Does Your Home Insurance Cover?

Take a moment to see if you are adequately protected. Provided by Reever Conover – Conover Consulting Not all home insurance policies are alike. Coverage amounts obviously vary, and so do coverage areas. Taking ten minutes to scrutinize what your policy does (and does not) cover is a wise idea. Homeowner policies routinely provide tornado, windstorm, & hailstorm coverage. If …

Blue Cross SC drops Walgreens and Rite Aid on October 1

Effective October 1, 2016, all Blue Option individual and family plans under the Affordable Care Act (ACA) will be covered by the Advanced Choice Pharmacy Network. This is an exclusive pharmacy network impacting current members, as well as members with new plans sold with effective dates October 1 and beyond. Exclusive pharmacy networks are a necessary step toward controlling prescription …

SC ObamaCare Exchanges to “implode”?

This is from the Post Courier on July 2.  For the full article, click here. COLUMBIA — With insurers struggling to make money and access to plans severely limited, top South Carolina health officials warn the Obamacare health insurance marketplace is on the verge of collapse. Obamacare was supposed to create a competitive platform for customers to shop for coverage. …