Archive for December, 2007

From the Center for Responsible Lending:

Jennifer Rakowski of Oakland, CA had been with her bank for 15 years when, before she knew what hit her, she accumulated a series of overdrafts in quick succession that put her over $300 in the red.

Has something like this happened to you?

Consumers are catching on to the ways in which banks artificially increase overdrafts, costing their account holders billions per year in unfair fees.

When the House Financial Services Committee was debating H.R. 946 this month, Congresswoman Carolyn Maloney’s bill to stop unfair overdraft practices, we asked you to call your member of Congress and tell them how you’ve been stung by these unfair fees.

We thank those of you who took this important step. The bill is now stalled and won’t be considered until next year, so we’re asking you for two more things:

1. Tell us your overdraft abuse stories, so we can show Congress the breadth of this problem when the time comes.  CRL will not use your name unless you want them to.
2. Want others to read your story?  Post it on http://www.affil.org/share.
3. Stayed tuned for other ways you can take action to make a difference when Congress considers the bill again.

In the meantime, please also check out CRL’s video interview with Jennifer Rakowski, and watch for more like this to come.

We know banks’ overdraft practices are unfair; you know banks’ overdraft practices are unfair.  Congress needs to know.

Are you eligible for Medicare but still needing to work (and having trouble finding any) and so painfully aware of the need for finding the plan option that best meets your needs for costs and services … and confused by all the blood-suckers out there?

The St. Petersburg Times’ monthly LifeTimes section, October 30, 2007, published these articles linked below. They do a great analysis of what’s what, tell clearly how to find details you need on the Medicare.gov site, and are generally VERY well written. They’re a solid resource for our members and other readers in that age/needs demographic.

Private Medicare plans cost us $15B more, study shows
Find a wealth of information on Medicare’s Web site – Tells you what is where on Medicare’s updated site, with helpful hints for people who aren’t comfortable with computers.
The A, B, Ds of Medicare – A clear, concise explanation of which Medicare parts cover what costs.
The unspoken disadvantages of Medicare Advantage - Informative exposee
A mixed bag for those with lower incomes - Helpful for those who also qualify for Medicaid.
Comparison of Medicare HMOs and PPOs - Chart comparing Medicare and Advantage programs on premiums, part B rebates, estimated costs, doctor and hospital copayments, provider network, drug copayments, and generic coverage in the gap.
Comparison of stand-alone drug plans - Chart comparing major insurers’ Medicare Part D stand-alone plans on premiums, deductibles, estimated costs for low and high usage, generics in the gap, and drug copayments.

The St Petersburg Times is blessed with a law-degreed, progressive Perspectives page columnist, Robyn Blumner. Here’s the link to her latest: Locked in a job by health insurance:

“[T]his tethering of an employee to his job [in order to retain health insurance for family members with preexisting conditions] reduces job mobility by about 25 percent, says Brigitte Madrian, professor of public policy and corporate management at the Kennedy School of Government at Harvard University. ‘The economic cost of job lock is that individuals do not move to jobs where they could be more productive,” Madrian says. “Job change is part of the engine of economic growth.’”

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So you think major medical health insurance covers hospital costs for a “major” illness? Not exactly. Sometimes you have to put pressure on the hospital to reduce the financial pressure on you. The Consumerist comments on a story, “Just Because you Have Health Insurance Doesn’t Mean Your Bill Won’t Be a Million Dollars ,” reported in the Wall Street Journal’s Health blog. Consumerist bloggers’ responses to the story add interest. The WSJ blog article contains a video and reader comments, too.

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The news on primary care physicians isn’t happy, either. Smart Money pierces the veil in “10 Things Your Primary-Care Physician Won’t Tell You.” Forget “read it and weep”! Read it, get angry and take action.