Feeling the Pinch? Tips to Keep You on Budget

Keeping a budget journal

Although the U.S. is no longer in a recession, many Americans still face financial stress, the Pew Research Center reported in April. As such, your clients and their employees may benefit from this article. (And so may you!)

With the cost of food and energy up, many of us are feeling the pinch. If you find your strapped for cash, or if you’re looking for ways to target your budget, start using a spending journal to reduce your expenditures.

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Straight Talk from Health Net

Providing the way forward with Tailored NetworksWith midyear approaching, it’s important to acknowledge the success of our tailored networks.

 

Our tailored networks offer comprehensive health care benefits at a cost-savings to employers and members, and have proven to be a popular way to save money without sacrificing benefits. For example, we’ve added a wellness incentive to some of our tailored network plans that offers members an opportunity for a $50 gift card.1

And our numbers are improving! We now have 37% of our commercial membership in tailored networks, up from 30% in September 2012!

 

The Premium Tax: What You Need to Know

What is the premium tax and how can this affect your clients?

health insurance tax

You probably hear it all the time: Clients asking you “I’ve heard that health insurance premiums are going to rise? What’s the story?”

Sound familiar? Chances are one reason could be because of the Health Insurance Tax (HIT), otherwise known as the premium tax, a multi-billion dollar tax on most of the nation’s health plans that will begin in 2014 as part of the Affordable Care Act (ACA).

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Staying Connected to Your Money: Best Money Management Apps

Staying connected to your money has never been easier with these money management apps – and the simple tap of the screen.

Money on the go: apps to help you manage your money

 

Are you tired of navigating automated phone systems and reconciling multiple ledgers just to see your current bank account balance? If so, then it’s time to go mobile where you can get up-to-date information in one place with a simple tap of the screen.

Online banking has been around for a while, so it is no surprise that industry leaders such as Bank of America and Wells Fargo have taken things a step further and developed mobile banking apps for their customers. With features such as real-time balance information, checkbook management and bill reminder notices, staying on top of your finances has never been easier.

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Health Net: Second-Highest Future Earnings Growth

Health Net has Industry’s Second-Highest Future Earnings Growth

Below are the top five companies in the Managed Health Care industry with the highest future earnings growth. The growth of earnings per share “is important to gauge future profitability and relative value.” A higher EPS growth generally “justifies higher earnings multiples.”  Centene ranks highest with a future earnings growth of 146.9%. Health Net is next with a future earnings growth of 99.7%. Coventry Health Care ranks third highest with a future earnings growth of 19.1%. Triple-S Management follows with a future earnings growth of 11.7%, and Aetna rounds out the top five with a future earnings growth of 8.0%.

Wells Fargo HSA Joint Marketing Agreement Termination

Keeping our brokers informed is an essential part of how we do business. With that in mind, we want to let you know that a mutual agreement has been reached between Health Net and Wells Fargo to terminate the Wells Fargo HSA Joint Marketing Agreement effective October 1, 2012.

Existing groups who are already set up under the Wells Fargo arrangement will continue to have the $3.75 monthly administrative fee honored. There will be no disruption to those groups.

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Beware of Financial Survival Traps

These days, many people find themselves at a financial crisis point, and need immediate help. Here are some tips on navigating through the tough economic hardships facing you.

 

financial trouble looming The information below is from MHN, Health Net’s behavioral health subsidiary. MHN provides Employee Assistance Programs, behavioral health plans (which can be integrated with Health Net health plans or purchased as a carve out), and organizational training and development services. For more information, please visit www.mhn.com or contact productinfo@mhn.com.

It’s been said that desperate times call for desperate measures. That sums up the financial philosophy too many people feel forced into when economic times are tough. In order to get by, they turn to what appear to be quick and easy ways to get the cash they need.

But be careful! Short-sighted solutions can have a negative impact on personal finances that won’t go away quickly or easily.

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Reminder: The Elimination of Credit/Debit Card Monthly Payment Options

Quick Net Select Short-Term Coverage Plans
Effective October 1, 2012

 

We wanted to remind you about this change to Health Net Quick Net Select insureds.  As we shared with you in July, Health Net has been in the process of eliminating the use of credit/debit cards as a monthly payment option for our plans for individuals and families, company-wide. This move has been a part of our continuous focus on offering affordable coverage for our insureds and managing costs through the changing health care environment.

Following is a summary of how we are implementing this change to our Quick Net Select short-term coverage plans.

 

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Important Information: 2013 HSA Guidelines

New Requirements for 2013 New HSA guidelines to share with your clients

The health care industry continues to evolve. It’s critical that we all keep up with the changes that affect our customers. With that in mind, the IRS has announced changes to the HSA guidelines and requirements for 2013. This important information can help you prepare to assist your clients in the coming year.

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