Golden & Cohen

E-NEWSLETTER: Fall 2011 News for Golden & Cohen — Happy Halloween, now win a treat!

Golden & Cohen wants you to stay updated on the latest developments in the health insurance industry, which is why we’re offering a $25 Starbucks gift card to one lucky winner who “likes” us on Facebook! This isn’t a trick; just “like” us before October 31st and you’ll be entered to win a treat! Visit us on Facebook today and check back frequently for more news and updates! Also in this issue:

Employees seeking “one-stop shop” for traditional and non-traditional benefits
Health Care Reform Update
You’re not getting older, you’re getting better…
Stephanie Cohen Featured in 2011 Smart100 Book
Golden & Cohen Encourages Letters to be Sent to Council members on health exchanges
Thanks for your support
Next Maryland Women Ambassadors for Business Leadership Luncheon

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Like Us and Win!

In a continuing effort to connect with our clients Golden & Cohen has recently launched a Facebook page and we want you to be a part of it! Through Facebook, we want to provide a new avenue for our clients to communicate with us as well as allow us to share important information and breaking news about the health benefits world and our firm. Plus, to sweeten the deal, we are offering one lucky person who “likes” us before July 31st a $25 Starbucks gift card! So visit us on Facebook today and check back frequently for more news and updates! Continue reading →

E-NEWSLETTER: Summer 2011 News for Golden & Cohen — New Offices for Golden & Cohen

To better serve our clients, we’ve moved! On Friday, June 17, we relocated our office to a larger suite to allow more room for our growing office. We are now located at 704 Quince Orchard Rd., Suite 200, Gaithersburg, MD 20878. Our phone and fax numbers have remained the same. Also in this issue:

Cobra Administration You Can Count On!
Nothing Makes Employees Feel Better Than an Employer Offering Money Saving Options
Healthcare Reform Notification – Action Required
Golden & Cohen President to Participate in Health Insurance Exchange Meetings
Introducing the One-Stop HR Resource Every Business Needs: HR360.COM!
Self-Funded Plans for Groups as Small as Five Employees
Putting Health Policy in Clear Language
News You Can Use From Golden & Cohen’s HR360 Portal
COMING SOON!!!
Here to help you…

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Stephanie Cohen named Smart100 CEO by SmartCEO magazine

Lanham, MD – On April 1st, Stephanie Cohen was selected to be one of Washington SmartCEO magazine’s Smart100 CEOs. Made up of an exclusive group of 100 CEOs chosen for their leadership, strategic vision and character, the list is highly anticipated each year. Continue reading →

E-NEWSLETTER: Spring 2011 News for Golden & Cohen — Happy First Birthday Health Reform (Obama Care)

On March 23, 2011, Obama Care “celebrated” its’ one year anniversary. There was very little media attention on this subject; however, there are a few interesting items worth noting: First, the CBO (Congressional Budget Office) now estimates that the program will cost more than it originally thought. In terms of subsidies, the CBO initially estimated the cost at $1.04 trillion. Now the new number is $1.13 trillion. This is an underestimate of 8.6% based on new revised assumptions. It is likely that there will be many more new and unfavorable assumptions which will further increase expected costs. This news, coupled with the change in the political environment, might cause compromise and revision to the law moving forward. Second, there now have been five lawsuits as to the constitutionality of the individual mandate. For those who are scoring, it is Administration – 3, Objectors – 2. The final word will be handed down by the Supreme Court; the question is when and what decision. Third, most people still do not understand the bill. My opinion is that many politicians do not either. What is striking is that public opinion has not changed much since the birth of the new law. The Administration has attempted and continues to attempt to promote the benefits, however, there is an equal and opposite effort on behalf of the detractors of the bill to talk about the negatives. Fourth, there seems to be more of a push to protect the broker function, as there is some degree of understanding that brokers serve as consumer advocates for their clients. We thank our clients for understanding our role and hope that you support efforts to allow us to continue to help you. There is a pending bill to address our concerns sponsored by both Democrats and Republicans; an impressive bipartisan effort that signals that there really must be something important to protect. For now, not much has changed in the system except for a few minor benefits that have been mandated, but costs seem to be going up the same as in previous years. Stayed tuned as there is bound to be more action to follow… Also in this issue:

Happy First Birthday Health Reform (Obama Care)
Premium Financing Idea: Use other people’s money to benefit yourself!!!
As FMLA Absences Mount, the Employer Must Lay Down the Law
Stephanie Cohen Recognized by SmartCEO Magazine
Scott Golden Quoted in AskMen.com article on staying healthy
You Gotta Laugh: Life in the Trenches of the Health Insurance Business
Golden & Cohen now on Facebook and Twitter!
Next Maryland Women Ambassadors for Business Event

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E-NEWSLETTER: Winter 2011 News for Golden & Cohen — Repeal and Replace?

This has been the battle cry for Republicans. Why? Because almost all major polls say that most people are not thrilled with the new healthcare bill. What will happen next?. Last month the House voted to repeal the bill, but it will likely die in the Senate, and if it doesn’t it will almost certainly face a presidential veto. This is expected, but does mean the end of the debate, rather it only signals the beginning. You will see that there will be bipartisan agreement in areas that will create an undue administrative burden on businesses, such as sending out a 1099 for any payment in excess of $600 to all parties to include corporations. Also, it will be required to report all health insurance premiums to the government on each employee’s W-2 form. But these are considered the easy changes. There will be much more difficult issues both sides of aisle will attack and defend. Each party views the delivery of healthcare from two different perspectives. The Democrats believe in heavy governmental intervention with numerous subsidies and the Republicans believe in more of a free market approach with limited subsidies. There is some agreement between legislators, however, primarily in the areas of expanding insurance coverage to as many people as possible and establishing general consumer protections. The politicians will build on these points of consensus but will have to compromise in other areas. And all this will occur at a time when both parties are gearing up for the 2012 elections, making health reform a toxic political hot potato. I cannot wait to see how it all unfolds. Also in this issue:

Golden & Cohen Featured in Bisnow!
You Gotta Laugh: Life in the Trenches of the Health Insurance Business
Maryland Women Ambassadors for Business Launches New Web Site!
Disruptive Women in Health Care Interviews Stephanie Cohen

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E-NEWSLETTER: Fall 2010 News for Golden & Cohen — Health Care Reform Update

As you may know, certain provisions have taken effect already such as being able to keep children on the health plan until 26; many carriers allowed this before the law was mandatory. Additionally, for any renewal after 9-23-10, there will be unlimited lifetime benefits as well as no co pays for in-network preventive care. There have been some interesting political developments along the way that could be relevant. First, the requirement for businesses to issue 1099 for any payment of $600 or greater has been delayed. Many felt that this requirement was burdensome upon businesses. This event shows how things can be delayed based on public opinion. The biggest issue is the projected change in the political environment. Many polls seem to indicate that Republicans may take the House and possibly the Senate. If one or both of these events occur, Republicans have vowed to “repeal and replace”. Repeal is very unlikely as there will always be the threat of a Presidential veto. However, another strategy that has been advanced is delay. Congress can be very good at delay. The Republicans believe that certain funding can be held up which may make it difficult to implement or enforce the health care law. After the elections, it will be interesting to see what really happens after the dust settles.

Lastly, there is a lawsuit filed by Virginia and other states questioning the constitutionality of the individual mandate requiring people to have health insurance. A similar lawsuit has been dismissed in Michigan, but the Virginia case has a much better chance of prevailing. If that happens, the issue will likely go to the Supreme Court as there will be a conflict between Federal Courts. The result is unclear, but this will be very interesting.

As things transpire, we will be reporting back to our clients.

Also in this issue:

• Golden-Cohen Now NFP/Golden & Cohen
• You Gotta Laugh: Life in the Trenches of the Health Insurance Business
• New HR Resource for Clients
• New BCBS Product

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JOIN US FOR: Health Reform After the 2010 Election

Health Reform After the 2010 Election: Assessing the Viability of Health Insurance in the Aftermath of the Mid-Term Elections

The polls will be closed, the votes will be counted and the future will be a whole lot clearer — Join us at the National Press Club for a morning of analysis and insight. Hear what the experts on the front lines of business, insurance, policy, politics and the media have to say about the future of health insurance in the 111th Congress.

Wednesday, November 3, 2010 (the day after the election)
8:30—9:00am: Registration and Breakfast
9:00—11:30am: Program

Washington DC | National Press Club | Murrow Room

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E-NEWSLETTER: July 2010 News for Golden & Cohen — The Future of Medicare

By Scott Golden
Co-Owner and CFO
Scott@Golden-Cohen.com

On August 3, Agent’s Sales Journal reporter Heather Trese published an article featuring my comments about the future of Medicare.

She wrote: Some people, including Scott Golden, chief financial officer of the health benefits consulting company Golden & Cohen, predict that Medicare plans — such as original Medicare with a Part D or Med supp addition — will start to become more attractive as Medicare Advantage loses its luster.

I said: “Whenever you make one product less attractive, you’ll make the other product more attractive. So it does work to an advantage for those who work in the indemnity market.” Click here to read Heather’s entire article.

This issue is incredibly timely. In fact, back in March our monthly newsletter focused on Medicare — an important topic, especially if you or a loved one is nearing age 65. The process is complicated, and try as you might, don’t be surprised if you can’t get all the information you need to understand how to apply, what benefits you will receive, and a myriad of other questions you are likely to have. Click here for details.

Also in this issue:
• You’ll find an article by our accountant Eric Cohen, who asks, “Is it time for a Roth conversion?”
• And check out the 10th chapter in our upcoming book, “You Gotta Laugh: Life in the Trenches of the Health Insurance Business.” In this month’s insurance issue, my wife and business partner Stephanie Cohen and I explain why you need to carefully track and pay your premiums at the same time each month.

From all of us at Golden & Cohen, here’s to your good health!

Stephanie Cohen, CEO, stephanie@golden-cohen.com
Scott Golden, CFO, scott@golden-cohen.com
Jack Cohen, COO, jack@golden-cohen.com

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IN THE NEWS: Scott Golden offers thoughts on the “The End of Medicare Advantage?” in Agent’s Sales Journal

August 1, 2010, Agent’s Sales Journal — Scott Golden talks about the future of Medicare in the new issue of Agent’s Sales Journal. Reporter Heather Trese wrote:

Some people, including Scott Golden, chief financial officer of the health benefits consulting company Golden & Cohen, predict that other Medicare plans — such as original Medicare with a Part D or Med supp addition — will start to become more attractive as Medicare Advantage loses its luster.

“Whenever you make one product less attractive, you’ll make the other product more attractive,” Golden said. “So it does work to an advantage for those who work in the indemnity market.”

Click here to read the entire article.

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