First things 1st, Protect yourself
Never, Never, Never let your affordable health insurance lapse. If your new insurance doesn’t come through or your health conditions have changed you may not be eligible for similar coverage at a similar price.
· Avoid fraudulent insurance plans
Always, Always go with a large well known company. Small or unknown insurance companies that aggressively fight for you to sign up and have lower rates than comparable plans of larger companies are a bad bad sign. They sign up thousands of individuals in good health then suddenly when people start submitting claims the insurance company starts dramatically increasing their rates. Clients in good health go elsewhere but those with health issues get stuck. The insurance company may continue increasing rates and reducing benefits leaving you stuck between a rock and a hard place.
Call your states insurance department and make sure the insurance agent and company are legitimate, and licensed in your state. Most fraudulent plans are sold over the Internet or through direct mail solicitations.
Always use a check, money order or credit card when buying a policy so that you have a record of your purchase. Never pay cash and avoid direct withdrawal and automated payments at least for several statement periods. Never make payments to the agent, only to the insurance company.
Never be pressured by “one time deals” or “last chance offers for special savings”.
· Know what your buying
Remember if it sounds too good to be true, it probably is.
When comparing health plans, check the “Exclusions” first. One of the first things an experienced agent looks at in a health insurance plan is the list of plan exclusions, or what is not covered. Often found in small print, what is not covered is equally if not more important than what is.
Comparing policies and providers is a must in today’s high cost insurance market. Using a website or agent that compares multiple providers and plans is the best way to ensure your getting the best policy for the right price, but remember if a policy is significantly cheaper, beware.
· Important notes of interest
Smoking will dramatically raise the policy prices of your health and life insurance plans.
Locking into a affordable health insurance policy when your young will help you ensure long term affordable coverage since getting health insurance when your older, or have established medical issues is much more difficult and costly.
Having some individual health insurance is far better than having nothing at all. With no rehabilitation benefits you could lose your job, in turn losing everything you’ve worked for.
· What are your needs?
Are you planning on starting a family, and therefore in need of both maternity and child coverage, including immunizations? A problem newborn can easily accumulate $200,000 in advanced medical care. Therefore a plan with maternity benefits can shoot up costs. Overall, buy the best policy you can afford to keep.
Would you like your office and/or hospital visits included in your coverage? Do you need coverage for prescriptions? Be sure to consider your current and future needs when shopping for insurance.
Do not inquire about affordable health insurance until you have fully evaluated your present and past medical conditions. An Individual Health Insurance Company may elect not to cover your conditions, or they may pump up the normal premium rates.
If you have serious health conditions you might try to see if Blue Cross will insure you, keep your current coverage in place if they have a 180 +- day delay for pre-existing conditions.
· How can policy rates be adjusted to be more affordable
Check to see how much lower your premium will be if you opt for a major medical plan with a $1,000, $2,500, or even $5,000 deductible.
I recently switched from an insurance plan with $1000 deductible plus 50% copay to $3500 and $30 copay per office visit. To a 1500 deductible with only 3 office visits paid for per year. I rarely go to the doctor so having to pay for my visits myself wasn’t going to cost me much and my policy was $400 less per quarter, substantially better for me at $1600 per year savings.
Note: not all individual health insurance policies are Major Medical plans. Some are hospital plans with stripped benefits, or just hospital indemnity plans which would limit the amount paid per day for hospitalization.
Check to see if the insurer has one rate for all ages, male and female. Some individual health plans base your rates on age, with females getting lower rates at certain ages, and males getting higher rates.
Get multiple quotes from various insurance companies in order to make your best decision. By comparing companies, you may save some money and find greater benefit plans. Be sure that you are comparing apples to apples, since prices and coverage on different plans will vary.
· There are several types of health plans available to choose
Always try to purchase a Major Medical insurance plan. Most Major Medical plans will pay up to $2,000,000 or more in lifetime benefits.
There are major medical plans available that allow you to customize your coverage and stay within your budget. Health insurance plans that cover all the basics are flexible and affordable. You can pick and choose the coverage and deductible amount you want.
Check out the HMO (Health Maintenance Organization) beware though, an HMO is difficult and resistant, you may have to beg to get a referral approved, even though your doctor insists on it. Plus you select your doctor from their list and only use a certain hospital when necessary.
A PPO (Preferred Provider Organization) offers more flexibility at a higher price.
POS (Point of Service), HSA (Health Savings Account-also known as MSA-medical savings account), and traditional indemnity, which is becoming less common as it is more expensive than the other plans. Carefully compare the pros and cons of each plan, and consider which will be more beneficial to you.
One plan that is gaining popularity fast is a (HDHP) High Deductible Health Plan. Major medical coverage is provided with this type of plan. This type of plan features higher deductibles than other types of health insurance and provides coverage for serious injury and illness. Routine doctor’s visits and exams can be included for as cheap as $19 per month with this plan.
Similar to an HMO, PPO, and POS an HDHP uses a network of doctors and hospitals to provide complete medical care and benefits to it’s members. These networks are very large and have providers wherever you may live in America. Discount medical service is given to members of an HDHP plan allowing you and your insurance company to reduce medical costs which keeps your premium lower.
Many variables are possible with an HDHP health plan such as a high deductible, flexible catastrophic limits, coinsurance, copays, preventive care, and prescriptions. Monthly premium savings can be quite substantial, so be sure to look at a high deductible health plan before you decide to buy a new health insurance policy.
Archive for December, 2009
First things 1st, Protect yourself
Any tricks or tips on how to keep my 18 year old daughter on my medical insurance if she is not a full time student.
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A health economist established a study to assess utilization of emergency medical care and health insurance?
A health economist established a study to assess utilization of emergency medical care and health insurance. These data have been compiled: 4% of all adults have utilized emergency medical care in the last 12 months. For the pool of patients who utilized emergency care, 80% had health insurance. While for a random sample of persons who never utilized emergency medical care, 50% had health insurance. An adult, selected to be a participant in this study, has medical insurance. What is the probability this individual will utilize emergency medical care in the next 12 months?
i was treated aggressively for cervical cancer nineteen months ago,and have been cancer free since.i get regular check ups;scans;and have no signs of anything yet.i have medical insurance through my job;but want to open my own business,but do not want to be uncovered;what are my options for affordable coverage,and can i get any at all????please help my lob is killing me,and i so want to open my own hair salon!!!!!!!!!i live in louisiana if that makes any difference.
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It is a irony that so many things that are an absolute necessity in life could also be among the ones so expensive that we at times may be tempted to give them a let-go. However, such a thing as medical insurance is so important that despite all talks of it being expensive, one has to find means to avail to it such that it is cost-effective. Good news here. With some amount of judiciousness, you can find yourself coming to terms with the insurance ins-and-outs and avail to attractive schemes.
Research the market for the policies you find most suitable for yourself, knowing exactly the areas you would like to focus on to cover. You can be as specific as seeking coverage of certain parts of your anatomy, such as the heart or the kidney.
You can take out an insurance, not only for yourself but for your entire family as well and avail to suitable discounts with this wise step. With medical insurance, you or your family members can avail to the free services of a doctor, which may include consultation fees and costs of treatment. And in case, your condition requires hospitalisation, an insurance policy in place can prevent holes in your pockets. This is because medical costs can be the most gruelling of all when they come. It is at such precarious times that an insurance policy justifies all the premium it has cost you and it would feel like a boon.
A medical insurance policy should be clear in its quotes so that you have no confusion or unwanted hassles when making that claim which could save your life. Since your health is your most precious possession, and needs to be protected at all costs, medical insurance is one of the ways to show that you care for yourself and are ready for this responsibility of protecting yourself against contingencies that could affect your health. So go and get one that is perfect for yourself as well as your family.
Continuously rising prices of essential commodities can be termed as the biggest challenge faced by people today. It has reached a stage when a sudden and unplanned expenditure is enough to throw a smooth functioning of any household out of gear. Imagine in this scenario, a situation when an average middle class household confronts such an expense. And to make the matter worse, expense might be such that it could not be overlooked. Needless to say that it would be devastating for that family.
And if the reason for such an expense is some serious illness that one of the family members might be grappling with, then the trauma of that family can very well be understood. The concern would not only be of arranging for the finance, but also of coming to terms with the fact that one of your loved ones is down with a serious illness. Imagine the condition of a family who could not get one of its members treated at a time when he needed the treatment most.
It is here that medical insurance comes into play and ensures that one’s treatment is not affected on the grounds of money by arranging for the finance of the treatment, whatever the cost, with the concerned family not requiring to pay a single penny. Needless to say what a huge relief it would bring to people who would be undergoing such a trauma. It is because of such fantastic services it provides that medical insurance is in such great demand in the UK. What it also means is the fact that there are plenty of companies in the UK who have jumped into this service. People, therefore would do well to do a thorough research before opting for a particular company. A thorough understanding of the company’s policy and the type of benefits it would offer is a must.
Apart from it, one would also do well to pay attention to certain points of the contract of the medical insurance that one is opting for. First of this is to ensure that the policy comes to life as soon as it is signed, after which one would also do well to find out in the very beginning what the illnesses are that one is protected from. In addition to this, one would also do well to take care of certain things, like never to default on the monthly premium and to make sure that no false information is provided to the insurance company. Both these cases can lead to the cancellation of policy.
If the above mentioned precautions are taken, then there can be no reason why one’s decision to opt for medical insurance would not pay rich dividend.
My father is looking for medical insurance that covers stuff like x-rays, perscription, doctor visits, etc. Does anyone have a good medical inssurance company that covers that stuff and is descently affordable? Much appreciated…Thanks.
When we head off to college, our minds are filled with fantasies of parties and hanging out in our own pad. We think we’ve got it made with freedom at our fingertips and rules out the window. Never again will we be told what to do. Okay, well some of us have that delusion, but others are instantly stressed to achieve good grades and by facing life without our parents, who had been covering all expenses up until now. With all of this reality setting in, the last thing we need is something else to worry about. The headache of expenses and keeping up with our homework loads, consume our every moment. Although we are young and healthy for the most part, we still need to be prepared for the worst. This is why medical insurance for students is crucial.
When some students go off to college, they don’t have health or dental insurance coverage. Due to the fact that this was previously taken cared of by their parents before. Had they taken some time and do some research, which could most likely be found at the school’s website, you’d find that health insurance plans are mandatory for full time students.
If you are attending a University or a community college and have no health insurance, make sure to look into medical insurance for students. You can never be too sure when you may be in need of it. Most college students don’t have thousands of dollars set aside to take care of their medical expenses in case they get sick or are hospitalized for a while. Dental insurance may not be necessary, but you should definitely look into the medical plans that your school provide. Don’t wait until it’s too late if you happen to be a full time student. Look into a medical insurance plan that fits your needs and budget.