While BRG works with schools to offer health plans that range from $130 to $180 per year for most students, individual coverage for an 18-year-old can easily run up to $150 per month, a figure which will only increase after 2014 per PPACA mandates.
Dallas, TX (PRWEB) April 19, 2012
To borrow a phrase from Sophia from Golden Girls, “picture it.” Government employees in the Department of Health and Human Services (DHHS) emerge from behind closed doors late on a Friday. Another week spent determining regulations of the Patient Protection & Affordable Care Act, or “Obamacare” behind them, yet very little recognition or fanfare for their efforts. Like so many weeks over the last two years, the DHHS now has set another rule, possibly failing to realize or understand the consequences of their actions, this time adversely affecting millions of students.
The team at Benefit Resource Group (BRG) knows that financial struggles are common among college students who are trying to further their education while becoming independent from their parents. In an effort to help students stretch their budgets, many schools work with an independent Texas insurance agency like BRG to offer affordable health insurance plans. However, a few weeks ago, one of the largest measures of the Patient Protection and Affordability Care Act was interpreted by the Department of Health and Human Services to mandate insurance changes that might spell the end to health plans for millions of students and deny them access to affordable health care.
The recognized experts at the Texas insurance agency highlight two points of the mandate that they believe will impact students the most:
- A steep increase in minimum benefits from $100,000 in 2012 to $500,000 next year. Some insurance carriers predict that this will increase student health care costs exponentially. BRG Partner Danny O’Connell interviewed several of the agency’s clients and school administrators and their consensus was these plans will now be priced where students will not be able to afford them and thus colleges are forced to drop them and leave it up to students to find their own coverage.
- All plans, regardless of renewal date, must now renew on June 1st. While this might not seem like a big deal, it means millions of dollars in expenses for all of the institutions and carriers that already have renewed, issued benefit summaries, outlines of coverage and ID cards.
As these changes might seem trivial the fact of the matter is those who truly have health issues can remain on their parent’s plan until age 26, these plans were more than adequate coverage for the overwhelming majority of students entering college. The result, institutions will be forced to stop offering coverage to students as it will no longer be affordable and thus, students will lose the easiest access they had to affordable coverage.
While BRG works with schools to offer health plans that range from $130 to $180 per year for most students, individual coverage for an 18-year-old can easily run up to $150 per month, a figure which will only increase after 2014 per PPACA mandates. The Texas insurance agency would like to remind parents and students that they can still obtain individual health insurance plans through BRG, as millions of students may have just lost their most cost-effective appropriate avenue for coverage.
About Benefit Resource Group:
For more than 35 years, BRG has been operating in Texas while focusing on building relationships with and retaining their clients. Over the last 18 months BRG has grown exponentially as they have become recognized experts on health reform. In an industry where agents are leaving due to governmental mandates they have already grown 8.5% year to date. No matter what a client’s financial situation may be, BRG agents are committed to finding the most affordable and comprehensive solutions for his or her unique needs by adding experts in just about every practice area.