Category Archives: Individual and Medicare

Do Women Face Greater Retirement Challenges Than Men?

If so, how can they plan to meet those challenges?

A new study has raised eyebrows about the retirement prospects of women. It comes from the National Institute on Retirement Security, a non-profit, non-partisan research organization based in Washington, D.C. Studying 2012 U.S. Census data, NRIS found that women aged 65 and older had 26% less income than their male peers. Looking at Vanguard’s 2014 fact set on its retirement plans, NRIS learned that the median retirement account balance for women was 34% less than that of men.1

Alarming numbers? Certainly. Two other statistics in the NRIS report are even more troubling. One, a woman 65 or older is 80% more likely to be impoverished than a man of that age. Two, the incidence of poverty is three times as great for a woman as it is for a man by age 75.1,2 

Read more ...

Deadline looming close for Individual Health Insurance Plans

 Health Insurance Policy

Just a reminder that the last day to purchase individual health insurance in 2016 is January 31! After that you are subject to fines/penalties.

NEW YORK 2016 Individual Plan Primer

If your income is below 200% of the Federal Poverty Level (FPL) you may qualify for the new Essential Plans.  We will quote them if that is an option.

It is imperative that you check with your physician before selecting a plan.  Carriers continue to shrink the size of their networks under ObamaCare.

United Healthcare/Oxford
IMPORTANT – they are using their new Metro Network ONLY.  This is a smaller network and does not include Lenox Hill, Lutheran Medical Center, NS-LIJ, NYU, or Northern Westchester/Phelps hospital networks.  While Stonybrook is in-network, their physicians group is not in network, it is imperative that you check with your physician before selecting a plan.

There will be no out of network coverage available from any carrier this year.

CVS drug stores are no longer part of the network.

Stonybrook hospital is not included
All plans have no charge for PCP and no coinsurance
SIMPLE Plans – you pay  full price for specialists and drugs
SIMPLE+ Plans – $50 for specialist and preferred drugs
CLASSIC – Full Price for Specialist
MARKET – Better Drug Card

They have a small hospital network called the Pathway network, and a small physicians network.  We are not recommending their individual product at this time.

They are no longer actively marketing.

*URGENT MESSAGE* – Renewing Your Individual Coverage

If you purchased individual coverage and plan on renewing it this year, this is important information.

You will shortly receive a renewal letter, which We may , or may not, get a copy of.  We will be running options on EVERY client the week of November 2 – unless you tell us not to.

There are two types of Renewals:

1)  Passive Renewal – nothing has changed (plans, family size, income, etc), you are happy with your plan, and the company says they will renew you as is in the Renewal Letter.  YOU do not need to do anything, but we ask that you send us a copy of the renewal letter by fax: 843-278-9148, email: or mail to: Conover Consulting, 105 Lamplight Circle, Summerville, SC 29483.

2)  Active Renewal– Some carriers will require you log back into the exchange and confirm your renewal.  If you have any changes (dependents, income, etc.) you are REQUIRED to log back into the exchange to confirm your renewal.

We are happy to help you with this, but IF YOU CHOOSE TO DO THIS YOURSELF- please let us know you have done so.  Also make SURE to enter my National Producer Number in the NPN box – 1982826.  If you do not you are no longer my client and I cannot help you.

Please call us if you need any assistance 877-423-9990.

67,000 Consumers’ Choice insurance clients to lose coverage in December when company shuts down

Posted: Oct 22, 2015 11:33 AM EDT
Updated: Oct 22, 2015 11:33 AM EDT

COLUMBIA, S.C. (WCIV) — Nearly 67,000 customers of Consumers’ Choice Health Insurance will have to shop for new insurance at the end of the year when the company shuts down its operations in 2016.

The state Department of Insurance made the announcement on Thursday. The company and the state agency did not give specifics on what precipitated the closure, only saying a look at long-term sustainability showed problems.

“This was a difficult decision for the insurer and this agency, but this is what is in the best interests of South Carolina consumers and health care providers,” said Ray Farmer, Director of the South Carolina Department of Insurance.

Company officials said the decision was made to shut down because the company’s financial situation could continue to degrade.

“In the coming days, weeks and months, Consumers’ Choice will continue to focus all of its efforts on taking care of its members and also working with the South Carolina Department of Insurance as well as the Centers for Medicare & Medicaid Services to help ensure a smooth transition,” added Tim Ervolina, Chairman of the Board of Directors for Consumers’ Choice.

Consumers’ Choice is required to submit a run-off plan to the Department of Insurance.

“This should be an orderly run-off of the company’s business. Our expectation is that the company will honor its existing commitments to policyholders and health care providers as a part of winding down its operations. The Department has monitored the financial condition of this insurer very closely since licensure and will continue to do so until this process is complete,” Farmer said.

If you have coverage questions, you may contact CCHP at 1-800-580-8736.

The South Carolina Department of Insurance can also assist you. The Department can help consumers understand their rights and responsibilities during this process. Please call our Office of Consumer Services at 1-800-768-3467 if we may be of assistance to you.

Blog Archives

Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA. - SIPC - Brokercheck