The California Managed Risk Medical Insurance Board, which operates PCIP in California, requested and received federal approval to lower premiums starting this week, giving subscriber’s pocket book relief of nearly 18 percent on average. The premium reductions range from 8.2 percent to 24.3 percent, depending on subscriber age and geographic region, and were made possible by new guidelines issued in May by the U.S. Department of Health and Human Services.
“We believed premium cost was a barrier to access for some Californians. Now the barrier has been eased,” said Cliff Allenby, the Board’s chairman. “We want to make sure that everyone who qualifies for this program has access to its benefits and is not deterred by price.”

“The Pre-Existing Condition Insurance Program provides vital health care coverage for Californians who cannot afford their health insurance through no fault of their own,” said California Health and Human Services Secretary Diana Dooley. “The reduction will offer real savings for access to health care that will benefit real people.”
The new monthly premiums began August 01, 2011. For a PCIP subscriber aged 40 years old living in Los Angeles, the current monthly premium of $339 would fall to $269.

California’s PCIP opened for business on October 25, 2010, and since has reached enrollment of 3,532 (as of July 27, 2011), making it one of the largest PCIPs in the United States. PCIP was one of the first major provisions of national health care reform to be implemented across the country. The program provides health coverage for persons with pre-existing conditions who have been rejected for individual coverage by commercial carriers or offered coverage at unaffordable prices. It is a bridge until 2014, after which insurance carriers no longer may decline or “rate up” coverage for pre-existing conditions.

The new premiums take effect October 1, 2011, but subscribers who were enrolled in August or September will receive the benefit of the premium reductions through credits against future invoices or refunds, depending on whether they are still enrolled in October.

PCIP in California covers both inpatient and outpatient care, including doctor visits, preventive care services, prescription drugs, mental health services, lab and x-rays, hospital services, pregnancy care, durable medical equipment and more. The plan’s annual medical deductible is $1,500. There is also an annual $500 brand name prescription drug deductible. Co-payments are charged for services and prescriptions, except for preventive care, up to a maximum of $2,500 annually for in-network services.

The Managed Risk Medical Insurance Board is an independent state board within the California Health and Human Services Agency charged with researching and assessing the needs of people without adequate health coverage, and promoting ways to assure adequate health care services. In addition to operating PCIP, the Board administers the Healthy Families Program, Access for Infants and Mothers and the Major Risk Medical Insurance Program.

For more information about the Pre-Existing Condition Insurance Plan, including premium pricing and application form, please visit www.pcip.ca.gov.

Some people go swimming by diving into the pool;  others prefer to edge into the water gradually, especially if the water's cold. A decision about putting  money into an investment can be somewhat similar.  Is it best to invest your money all at once, putting a
 lump sum into something you believe will do well? Or should you invest smaller amounts regularly over time to try to minimize the risk that you might invest at precisely the wrong moment?

Periodic investing and lump-sum investing both have their advocates. Understanding the merits and drawbacks of each can help you make a more  informed decision.

What is dollar cost averaging?  Click on the article below to read more...

For more information about this article, contact:
Bryan J. Nelson, Registered Representative, ING Financial Partners
bryan.nelson@ingfp.com

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Two Honda models top the list of U.S. thieves’ favorite vehicles.

The National Insurance Crime Bureau examined vehicle theft data submitted by law enforcement to the National Crime Information Center (NCIC) and determined the vehicle make, model, and model year most reported stolen in 2010.

For 2010, the most stolen vehicles in the nation were:

1. 1994 Honda Accord
2. 1995 Honda Civic
3. 1991 Toyota Camry
4. 1999 Chevrolet Pickup (Full Size)
5. 1997 Ford F150 Series/Pickup
6. 2004 Dodge Ram
7. 2000 Dodge Caravan
8. 1994 Acura Integra
9. 2002 Ford Explorer
10. 1999 Ford Taurus

The NICB report, called Hot Wheels, examines all theft data without regard to a vehicle’s insured status. The NICB says that certain models of older cars and trucks are popular with thieves because of the value of their parts—but many are not insured against theft. Whereas newer, more expensive and insured vehicles are often stolen to be resold intact with counterfeit vehicle identification numbers or shipped out of the country.

Nationally—and NICB says for the first time since 2002—thieves preferred domestic makes over foreign brands. Ford took three spots, Dodge two and Chevrolet held one while the remaining four were held by Honda, Toyota and Acura. However, the top three positions continue to be held by Honda and Toyota models, a trend that has been consistent since 2000.

Overall, vehicle thefts continue their decline. Preliminary 2010 FBI crime statistics point to a further 7.2 percent reduction over the thefts posted in 2009. Should the preliminary numbers hold when the FBI produces its final statistics later this year, 2010 will post the fewest vehicle thefts since 1967.

The report shows that improved technology is one of the keys to lower theft rates. Of the nearly 52,000 Honda Accords stolen in 2010, over 44,000 were models made in the 1990s, compared with fewer than 5,700 that were produced since the year 2000.