What's New at thorntonpowell

In 2009:

With the holidays arriving fast, many people try to adhere to the mantra of “it is better to give, than to receive”. Whether this is in the form of time or money, there is a satisfying feeling that comes from helping someone in need. Here at thorntonpowell we could not agree more.

Last Year thorntonpowell focused on two deserving families that could benefit from our assistance during the holidays. Both were affected by cancer. One wife and mother of five was determined to survive a bleak cancer diagnosis and another mother was trying to rebuild after cancer claimed her boyfriend’s life leaving behind a young daughter. The struggle was not only emotional but financial as well. This was even more apparent when the holidays came around.

Through a combined effort from all our employees, we were able to supply each family with Christmas gifts. Those for the adults were wrapped ahead of time and left as a surprise for Christmas Day. However, for the children’s gifts, the parents came into the office and were able to see everything donated and then participate in wrapping them. It was definitely a heart warming experience and one that I’m sure the families will never forget.

We are happy to report that each family is doing well and we wish them the best.

Upcoming:

For 2010, thorntonpowell will be supporting a local charity, Ronald McDonald House, in Oak Lawn, IL. Opened in December of 2008, the “house in the woods” as it is referred to, is equipped with 16 bedrooms and houses eligible families with children (21 years or younger) that are currently being treated at Advocate Hope Children’s Hospital and reside more than a ten mile distance from the hospital itself. Ronald McDonald House’s mission is “to improve the health, well-being and education of children.” They adhere to this by providing residents with a “home away from home” while their child receives treatment as well as the opportunity to connect with other families experiencing similar situations. Since opening its doors, the Oak Lawn facility has assisted more than 350 families and over 9,287 room nights.

Admittance as a resident is based on availability and an approved referral submitted by a child’s assigned hospital case manager/social worker. Once at full occupancy, waiting lists are utilized. On average, a family’s stay is about 17 days. However, “house in the woods” is unique in that they have four extended stay suites offered to accommodate families that will need to utilize their facility for longer stays due to a child’s hospital stay being prolonged. As many charitable organizations, Ronald McDonald House relies on its volunteers, donors, partners and personnel to make this all possible.

PPACA Puts the Filling in Medicare's Donut Hole

On March 23rd, 2010, President Obama signed the Affordable Care Act. The law is comprised of health insurance reforms that will take place over the next four years into 2014 and beyond. Everyone will be affected, from children to seniors, regarding accessibility, affordability and utilization of their healthcare.

For many seniors, Medicare Part D is relied upon to cover both brand name and generic prescriptions. Typically there is a deductible that must be satisfied before Medicare will cover any of the expenses. Once the deductible is met, Medicare begins covering 75% of the costs up to $2,830. Sounds pretty standard right? That is until seniors reach the “donut hole”, a gap in coverage where Medicare returns to paying 0% of drug costs, leaving seniors to be responsible for an additional $1,720 out of their pockets in addition to the premiums paid to retain the coverage. It is not until after seniors’ total drug costs reach $4,550 that Medicare steps back in to cover 95%. Understandably, some seniors were left to make decisions about the drugs they take, including not taking them as often as prescribed or ceasing them all together in order to avoid the cost. So bring on the filling!

Included in the PPACA legislation is relief for seniors whom find themselves in the donut hole. For 2010, eligible enrollees of Part D will receive a one-time, tax-free $250 rebate check from Medicare in hopes of lessening their financial burden. Rebates will go out within 3 months of entering the donut hole. Enrollees will be able to track when they can expect to reach this gap in coverage by examining their Explanation of Benefits generated when prescriptions are filled. The Explanation of Benefits keeps a running tab on how much is spent on covered prescriptions.

While $250 may not be enough relief for those seniors with chronic conditions that require costly prescriptions to maintain, beginning 2011, brand name drugs will be discounted by 50% while in the donut hole continuing through 2020 when Medicare expects the donut hole to be completely phased out.

Attention Annual Enrollment: November 15th – December 31st is the designated time frame to enroll in (if not previously elected when eligible), make changes or discontinue Part D plans. Generally if no changes or elections are made, members will remain enrolled in their current coverage until the following annual enrollment. Any enrollments during this period will be effective January 1st.

For more information, please visit www.healthcare.gov or contact our individual/Medicare specialist, Lynn Imperiale, at imperiale@thorntonpowell.com or directly at 708-752-8250.

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More of Our Favorite Recipes

Back by popular demand are some more of our favorite recipes. Please try them out and let us know what you think!

Onion Soup

Reuben Dip

Beefy Nacho Bake

Hot & Sweet Ragu with Meatballs