Volume 1 Number 29
July 19, 2004










TEXT VERSION

Combining the emotional stress of an illness or injury with confusing or incorrect medical billing can lead to frustration. The seemingly endless paperwork can leave you feeling powerless.

The Affordable Healthcare for Floridians Act, effective July 1, promises to renew consumers’ sense of control.  Among the many measures included in the act, it authorizes the creation of Health Savings Accounts (HSAs).  Put into place by President Bush in December 2003, HSAs provide an innovative way for consumers to take control of their medical care costs. 

But each of us can begin making a difference today to help improve Florida’s health care system, by carefully checking hospital and other health provider bills for mistakes, errors and excess charges.  Doing so not only will stem out-of-pocket expenses, but also will help prevent the draining of our healthcare system’s precious resources.

In this issue of eViews you will find tips for taking control of your health care costs.  The passage of legislation containing HSA provisions represents only the first step for lowering health care costs in Florida.  As Florida’s Chief Financial Officer, I will continue to work with legislators to ensure health insurance programs, such as HSAs, are available.  But it is up to each of us to make a real difference.

                                                        

                                  

CFO GALLAGHER OFFERS CONSUMER TIPS TO HELP CONTROL HEALTH CARE COSTS

TALLAHASSEE—Navigating through medical bills can be a daunting task, and watching costs pile up is frustrating.  But Florida’s Chief Financial Officer Tom Gallagher said consumers have more control than they may think.

“Many factors contribute to rising health care costs, ” Gallagher said.  “One that each of us can have a hand in controlling is billing errors.  One keystroke error can cost hundreds of dollars.”

Learning to decipher health care provider bills can be a formidable undertaking, but one approach consumers can take is to look for areas where overcharges and errors most commonly occur.  Gallagher urges Floridians to follow these tips: CONTINUED

 

 

 

 

STATE FIRE MARSHAL’S OFFICE, FLASH PROVIDE 300 FREE SMOKE ALARMS TO LYNN HAVEN

 

Florida’s Chief Financial Officer and State Fire Marshal Tom Gallagher joined with Leslie Chapman-Henderson, president of the Federal Alliance for Safe Homes-FLASH, Inc., to deliver 300 smoke alarms to the Lynn Haven Fire Department.  The giveaway is part of an ongoing, collaborative effort to provide free smoke alarms to residents in at-risk communities.

 

Since the program began in 2002, more than 10,000 alarms have been distributed to Florida households.

 

“At least half of all fire-related deaths can be prevented by a smoke alarm,” Gallagher said.  “Our goal is to make sure every Florida home has one of these life-saving devices.”  CONTINUED
 

31 CARRIERS FINED

 

AUDITS CLOSED
APRIL 1 to JUNE 30, 2004

 

 

 

WORKERS’ COMPENSATION CARRIERS, SELF-INSURED PLANS FINED MORE THAN $875,000 FOR VIOLATIONS

The Florida Department of Financial Services has fined 31 providers of workers’ compensation coverage a total of more than $875,000 for failing to fully comply with Florida law in administering workers’ compensation benefits to injured workers, according to Chief Financial Officer Tom Gallagher.  The fines are the result of audits completed during the fiscal year 2003-04.

“Floridians deserve a healthy workers’ compensation system,” Gallagher said. “For businesses paying into the system, employees deserve to receive the full benefits afforded them under Florida law.  Insurance companies that don’t comply with the law will be held accountable.”   CONTINUED

SO YOU THOUGHT INSURANCE WAS BORING?

POLITICAL RISK INSURANCE

More than 160 years ago, British merchants made a gigantic fortune selling opium to the Chinese. The Chinese government tried to put a stop to the trade. In 1839, it burned 2.5 million pounds of English opium in Canton harbor. The British government reacted by declaring war on China. By 1842, it had so badly defeated China that not only did China have to accept the British opium—it was forced to let Great Britain have free run of its ports--so-called “extraterritoriality rights.”

Nations generally no longer resort to warfare when their commerce is disrupted. Instead, the insurance industry has come up with a solution, which is usually called political risk insurance. “Political risk” comes in a variety of shapes and sizes, and the number of solutions is matched only by the types of problems that can occur. CONTINUED

 

 

MONEY LENDER CHARGED WITH FRAUD AND LOAN SHARKING

The owner of a local money lending business has been charged with multiple counts of fraud following a joint investigation involving the Florida Office of Financial Regulation, the Hillsborough County Sheriff's Office, the Department of Highway Safety and Motor Vehicles and the Department of Revenue.

Investigators say John R. Hershey, 54, owner of Easy Credit, Inc., 7440 E. Hillsborough Ave. in Tampa, allegedly operated unlicensed money lending businesses providing various financial services including money transmitting, title lending and auto financing.  In addition to operating without a license, Hershey allegedly charged excessive interest rates and fees.  According to investigators, more than 500 Florida consumers seeking title loans were charged interest and fees totaling 110%-276%. CONTINUED