Posts from — December 2009

As health insurance expenses  are increasing we have to take more responsibility for our health insurance coverage. With health insurance price rising health insurance corporations are constantly coming out with new health insurance polcies. New plans offer you flexibility to customize your own health insurance plan. The majority health plans in the past were pre packaged health insurance polcies and we ended up paying for things we never use. We know that automoblie insurance offers us flexibility to where you can pick your limits deductibles and the kinds of coverage that you want. It seemed that with health insurance it took at while for health insurance corporations to realize that’s how they can stay competitive. The world of five dollar co pays and no deductible plans are over. The majority of us and our parents come from the world where large corporations paid for their health insurance polcies. Large corporations do have advantage of numbers; more people are part of the group the more  insurance carriers are competing for their business.

First I want to address or health insurance quote shopping. If you are looking for some great deal a plan that covers everything for small monthly premium you are going to get scammed. Health Care Insurance rates are health insurance rates no matter what insurance company you go with. The main difference how  insurance carriers compete with offering more low cost health insurance rates is by being more creative in their plan design. Stays away from “good deals” in health insurance, chances are the plans are not going to cover anything when you’ve claim. Then you’ll end up with bills from the hospital and your health insurance premiums.

Health Care Insurance corporations like Assurant Health underwritten by Time Insurance offer health insurance polcies where you design your own plan. It is one of the only large reputable health insurance corporations to offer customizable health plans. They offer five plan designs two of them are Health Savings Account eligible health plans and the other health plans are your standard PPO (Preferred Provider Organization (PPO)s). What makes Assurant Health unique is that every type of plan give you opportunity to customize that plan by selecting co-payment or no co-payment option, choice of deductible, prescription drug coverage deductible, dental discount plan or dental insurance and some plan specific options. If you are looking for simple to use and simple to understand HSA account plans, Assurant is one of the first corporations to offer HSA plans.

When designing your own health insurance plan keep in mind of your previous health insurance usage. Choosing deductible for your health insurance polcies will make the biggest difference in your monthly price. Do not forget in most cases deductible applies only to when you are hospitalized. That meant when you are admitted to the hospital. The majority health insurance polcies will cover you doctor visits, physical exams, prescriptions drugs and your lab work with a co-payment before you meet the deductible. If you select a high deductible plan and something does happen to you that you end up in the hospital for something major and you do not have money at the time to cover your deductible. Every hospital will work with you by offering you payment methods. This way you can take as much time to pay off that deductible. Therefore it doesn’t make any sense in most cases not selecting a plan with high deductible. Obtain health plans with high deductible and you are going to save thousands on your health insurance. Some corporationslike Assurant Health offer you option to where if you select a health plans with deductible of thirty five hundred of higher you automatically qualify for two year rate guarantee. Save money monthly and avoid rate increased. Just with little knowledge and understanding of how health insurance works you save thousands with the health coverage that you need.

Interim health insurance is designed to cover you between permanent health insurance polcies. Consider this example if you turn eighteen and are no longer covered under your parents health insurance plan then you may want to purchase interim health insurance until you are hired by a company where health insurance is included. Or perhaps you’ve just left a job and while no longer covered under your old insurance you are searching for a new job or the new company you are working for requires that you work there several months before you are covered under the company’s health insurance, then interim health insurance is ideal for you.

Interim health insurance can be purchased for one month or for up to twelve months while you are waiting for your alternate health insurance to kick in. Nonetheless, most interim  insurance carriers have a limit of six months and you can’t simply continue your interim insurance but must re-apply with the company. Interim  insurance carriers are aware of the uncertainty surrounding locating new permanent insurance and are usually well equipped to deal with returnees or extensions beyond the initial date of expiry that do not exceed one year and resigning up with an interim health insurance agency is usually swift.

It is quite affordable, premiums can go as low as $25 a month and most do not reach above $100. This may make interim insurance more attractive than permanent insurance but interim insurance doesn’t cover a lot of things that are covered with permanent health insurance like check ups, dental and eye care. Interim health insurance will usually include emergency care, ambulance expenses, x-ray and laboratory services, and prescription drugs. It can also be extended to cover spouses and kids or other dependents.

It is useful for those ‘just in case’ periods where your life is up in the air, there is still a degree of certainty in the knowledge that you’ll be cared for if you’ve a sudden accident. You wouldn’t want to run to the grocery store in a rain storm with an umbrella that suddenly broke halfway there and then worked again right before you got there, in the same way you wouldn’t want to be covered and then not covered by health insurance in between permanent plans as that break in coverage may be just the time when tragedy strikes and most  insurance carriers nowadays won’t pay for treatment of preexisting conditions.

More than 50 percent of California marriages end in divorce. The process is emotional for all involved, especially children. But a second type of victimization for kids – loss of their health coverage – is becoming increasingly common. For instance, a divorce decree calls for the husband to carry the child or kids on his group health insurance policy. All seems fine until the husband is laid off. An option exists. The ex-employee can take advantage of COBRA which is up to 102 percent of the insurance coverage’s original cost. Regretfully, this may be less than praiseworthy as an insurance solution, especially if the price actually increases.

Another scenario: The husband is paying for the child on his group policy but mom takes the child into another state. This simple act can lead to a myriad of problems. The group policy may not cover out of state. If the insurance policy is an Health Maintenance Organization (HMO), PPO, or some other managed care hybrid, doctors or health care facilities “in network” may not exist. The price of care would be certain to increase.

Planning may be the solution to many losses in coverage for kids of divorced parents. If both parents consult with their respective attorneys and agree to prioritize their child’s (or children’s) health care, a content ending may still ensue. Perhaps the best solution is to provide separate policies for the children, with funding derived from a source other than an employer. A lot of health insurers that care exclusively to Californians have established workable programs to address such contingencies. So-called “child-only” plans can often be purchased at very reasonable rates.

The comfort and security of knowing you can see a doctor whenever the flu strikes or when you’ve broken your leg on the ski slopes is a privilege that many take for granted. Whether you have to select health insurance through your job or need to select an independent company, there are plenty of variables that can affect your final decision. Weighing the pros and cons of various options is the best way to select the health insurance that will accommodate your needs as an individual or family. Below are several points to consider as you search for the best health insurance plan for you:

<h3>Understand Your Choices</h3>

There are many different kinds of health insurance polcies offered to the public. Knowing the various options you may qualify for will help satisfy your needs in the future. There are five type of health plans to consider: traditional indemnity, health maintenance organization (Health Maintenance Organization (HMO)), Preferred Provider Organization (PPO)s , Point of Service Plan , and Health Savings Account (HSA). You should familiarize yourself with each option.

<h3>Understand the Advantages and Disadvantages</h3>

Out of the five main kinds of health insurance polcies, each one contains their own set of advantages and disadvantages. Consider this example, with a traditional indemnity policy, individuals seeking complete freedom in the medical providers they can select should select this option. But freedom comes with a price; the health plans produce higher rates and expenses . This means individuals will face few restrictions, but also have to cope with no financial incentives that lessen patient financial responsibility.

<h3>Coverage and Benefits</h3>

An vital factor to consider when selecting a health insurance plan includes the type of benefits offered and whether or not they will accommodate your needs. Some of the coverage capabilities to ask about include maternity, prescription, childcare, immunizations, emergency visits, and annual checkups.

<h3>Costs</h3>

Seeking information on the premium or employee contribution associated with a specific health insurance plan is vital to make an effective decision. The price you are responsible for will depend on the type of plan you select; the deductible, coinsurance and co-payment; lifetime maximums, and the limitation of plan benefit coverage.

<h3>Are You Considered “Hard to Insure?”</h3>

If you are labeled as a “hard to insure” case, you may not find the most cost-efficient or accommodating health coverage. A few things to keep in mind include: avoiding lifetime maximums of less than $500,000, straying from plans that only offer hospital and surgical benefits, seeking out an Health Maintenance Organization (HMO) plan that tend to be the least expensive, and researching health insurance coverage provided by professional organizations, school alumni programs or unions.

Health Care Insurance premiums will vary from company to company, policy to policy, state to state and more. That is the reason why I always recommend that people get several health insurance proposals before they decideon a policy because it’s possible that with a little extra research they might be able to substantially reduce their health insurance expenses .

Health Care Insurance premiums, just like other kinds of insurance, are based on statics mostly. If a certain amount of people suffer a certain type of disease or illness over a certain period of time, such as five or ten years, health insurance corporations can decidewith confidence that those statistics will hold up and that they’ll need to charge a certain amount of money over time in order to recoup their losses and make a profit.

Consider this example, let ussay that over the past ten years an average of two adult men per thousand broke their arm. The expenses incurred were doctor visit, x-rays, cast, medication, in some cases ambulance, ect. All of this is figured into how much each individual or family will pay. You could also figure how many people will visit the doctor each year because of the flu. It all weighs into your expenses . If there happens to be a certain spike in the number of adult men that break their arms then you can rest assured that your premiums would go up.

Anyway, that’s just a simple example of how health insurance premiums, and other kinds of insurance are determined. There are of course other variables that come into play, but that’s the basics of how it’s done.

With all the high priced health insurance polcies out there, locating an low cost insurance program with the coverage you need can be a little tough. Here is an easy way to find low cost personal health insurance.

<h3>Health Care Insurance Plans</h3>

Before you purchase health insurance the first thing you need to do is figure out what type of coverage you need. A lot of  insurance carriers offer managed health care polcies to keep expenses  down and provide main coverages. Managed health care polcies provide a network of Medical Providers and hospitals you can go to when you are not feeling well.

HMOs, PPOs, and POSs are all managed health care polcies. HMOs are the cheapest of the three and restrict you to using Medical Providers and hospitals within the network. PPOs and POSs let you visit a Doctor or hospital outside of the network for an extra charge.

To find the right health insurance coverage for your needs, start by asking these questions:
<ul>
<li>• Do you want the most basic coverage or do you want a more complete coverage that will cover office visits, preventive care, and prescriptions?</li>

<li>• How much do you have to spend on premiums? With a higher deductible you can get a reduce premium amount.</li>
</ul>
<h3>Low cost Personal Health Care Insurance Plans Internet-Based</h3>

Health Care Insurance polcies can vary greatly so it’s a good idea to compare plans from different corporations. One of the best ways to compare health insurance proposals is to go to a free insurance quote Web site. There you can get competitive proposals from up to 5 health insurance providers so you can compare plans and prices.

Since 2001, major health insurance providers have been allowing consumers to purchase policies web-based. Through the convenience of the World Wide Web, consumers are able to compare rates and coverage to find the best insurance policy for them. Before you sign up with a health insurance provider, you should consider price, company history, and coverage to make sure you find a good plan for your situation.

<h3>Identify Your Coverage Needs</h3>

Before you start gathering proposals for health insurance polcies, identify how much coverage you’ll need. Start by looking over your past medical expenses for the last three years. Do you need a lot of coverage or do you rarely need to see a doctor?

Next, consider your future expected medical expenses. Are you looking to cover typical office visits through the year? Or do you want to protect yourself from a medical catastrophe? Based on these answers, pick the coverage plan that will meet your needs.

<h3>Compare Costs</h3>

If you want to make sure you are obtaining the best deal on health insurance, compare prices. Internet-Based insurance websites make this process easy. You enter your basic information web-based, and then get several proposals from different health insurance corporations.

<h3>Check The Coverage</h3>

Before you sign up with a health insurance provider, check the coverage that’s being made available. Compare deductibles and co-payments, covered procedures, and hospital visits amongst offered policies. The more coverage provided, the higher the premiums. But this could save you more money in the long run, so in your decision also factor in how much you’ll use medical services.

<h3>Find A Doctor</h3>

There are two kinds of health plans – those that allow you to see any doctor and those that require you to use approved network doctors. Be sure to check that the doctor you want to see for typical office visits is covered by your plan. Managed plans that require you to see a network doctor usually have several doctors to select from in populated areas.

<h3>Research The Company</h3>

Once you’ve proposals from a couple of health insurance providers, take the time to research the company to make sure you are comfortable with them. Check to see how you can contact them if you’ve a problem and their financial records. You can do all this web-based.

Organizations looking for ways to cut expenses  in a competitive marketplace are increasingly looking to health insurance as a source of savings. While that’s not good news for employees, it does represent something of a trend — workers getting their own health insurance or filling in the gaps left by workplace budget cuts.

In Texas, however, there is more commonly another situation: workers not having health insurance at all. Experts say the primary reason for the state having the highest percentage of uninsured residents in the nation – roughly 25 percent — is cost, corporations simply not being able, or at least wanting, to afford the premiums.

The problem of higher medical expenses  isn’t isolated to Texas, of course. Nationwide, so-called “legacy” medical expenses  have forced corporations such as General Motors and other domestic automakers which negotiated benefits packages with workers and unions to look for ways to trim those expenses .

Yet in Dallas, Houston and Austin, where the percentage of uninsured is typically greatest, being without health insurance is even more commonplace.

Employees faced with no health insurance are clearly looking for options, one being Health Savings Accounts, which provide workers the ability to save for medical expenses on a tax-free basis while having a high-deductible health insurance policy to cover large medical bills.

More and more Texas residents are considering the Health Savings Account option, which includes both a high-deductible health insurance policy for large medical bills and an investment or retirement account from which the consumer can pay for medical care. If the money in the savings portion isn’t used, it accumulates with tax-free interest until the age of 65, after which time the consumer is able to withdraw the money and use it for any purpose. At that point, the money is subject to normal income tax.

Anyone under the age of 65 with a eligible high-deductible health insurance policy can open an HSA. Not all policies may be eligible under IRS rules, which include minimum deductibles which also decidethe maximum amount of the contribution by the consumer. Those signing up should ask whether the insurance company’s high-deductible plan is “HSA-eligible,” since not all high-deductible plans meet the IRS requirements.

To qualify as an HSA-eligible policy in 2007, your health insurance plan must have a deductible of at least $1,100 for individual coverage or $2,200 for families. You can then make a contribution to your HSA up to the amount of the deductible each year. If you are getting an individual plan, be sure to ask your health insurance company if it’s an “HSA eligible” high deductible plan. Not all high deductible plans are eligible, or “eligible”.

Another option is for an employee to take advantage of any limited benefit health insurance polcies offered to part-time or temporary workers who may not be eligible for a comprehensive group medical benefits plan. While the plan will likely offer less coverage, it likely will reimburse for most, if not all, of the price for routine and preventiveservices. The limitations may include fewer visits to a doctor and a total limit on benefits –perhaps as little as $2,000 annually. Those plans are unlikely to cover medical services such as surgery and hospitalization.

The major downside of a limited benefit plan includes the lack of coverage for so-called catastrophic hospital bills, something that could occur when the policy’s limitations are reached.

There are also insurance policies that offer cash benefits for conditions such as cancer, heart disease and stroke. The limited cash benefits would cover treatments and nursing care, but consumer advocates point to the specific coverage (for certain diseases or conditions) as major limitations that should have consumers looking elsewhere.

If you are between the ages of 50 and 65 and you are going to be looking for health insurance or are looking for health insurance you need some help. That is a tough age (of course what age isn’t starting with the terrible twos) because you are at a prime age to start developing health problems. Statistically speaking and statistics is the only language  insurance carriers speak, the insurance company can predict they are going to spend more on 50-65 year old than a 20-45 year old. For that reason premiums are much higher for the older person.

But, we Baby Boomers are a smart group and where there is a will, there is a way. So let uslook at some of the options:

If you currently have a job and are looking to retire or start your own business, you’ve a couple of avenues you can investigate. First you can inquire if your company will let you purchase health insurance through the company plan. If your company will let you do this your employer (assuming we are talking early retirement) may subsidize part of your premiums. If not, you still get group rates which are a whole lot lower than individual rates. If you are married and your spouse is still working strongly consider adding yourself to her/his plan if that option is available to you.

The next option (if you currently have a job which provides health insurance ) is COBRA or Consolidated Omnibus Budget Reconciliation Act. COBRA lets former workers and their dependents continue their employer’s group coverage for up to 18 months. The best thing about COBRA is it’s guaranteed. Your former employer’s insurance company can’t turn you down even if you’ve a chronic medical condition. The worst thing about COBRA is the cost. Your employer usually covers 70 percent or more of your health insurance premium. With COBRA you have to pay the whole premium plus administrative expenses . Industry surveys indicate based on an average premium (for 2007), a former employee would have to pay more than $373 a month for individual coverage and more than $1,008 a month for family coverage.

If you are not currently employed by a company who provides health insurance there are still choices for you. If you’ve pre-existing conditions such as diabetes or high blood pressure you can receive coverage through a state high-risk health program designed to help those with medical conditions that prevent them from obtaining insurance. Again though like COBRA the premiums can be quite high.

You can also check out professional organizations you could join or are already affiliated with to see if they offer health insurance polcies for members. Because these are group plans, the premiums may be less than what you would pay in the individual market.

Finally, there is the individual health insurance option. There has been some progress in terms of offerings of policies for the 50-65 year age group market mainly because insurers see this age group as a potential growth market. A lot of Baby Boomers are in good health and have higher income than younger people. Also  insurance carriers hope that retirees will still purchase their products, such as supplemental insurance, even after they’re eligible for Medicare. Some of policies currently offered may have premiums as low as $200 per month for people who are in good health and willing to pay a high deductible. A lot of insurance advice columnists recommend combining a high deductible individual health insurance policy with a health savings account. HSA contributions are made with pretax dollars, and any money left over in the account at the end of the year is rolled over for future use. Withdrawals are not taxed if used for eligible medical expenses.

Mississippi health insurance premiums have more than doubled in the last ten years, and are still on the rise. But it’s still possible to find low cost Mississippi health insurance with a reliable company. Here is how …

<h3>Low Income Health Care Insurance</h3>

Mississippi provides two state programs for low income families and individuals. They are:
<ul>
<li>• CHIP (Children’s Health Care Insurance Program), which provides health insurance for Mississippi kids up to age 19 whose family income is less than two times the federal poverty level, and who do not qualify for Medicaid.</li>

<li>• Medicaid, which provides health insurance for low-income and disabled Mississippi residents.</li>
</ul>
To find out if you qualify for either of these programs, visit the Mississippi Medicaid Web site: dom.state.ms.us.

<h3>Middle and High Income Family Health Care Insurance</h3>

If you do not qualify for low-income Mississippi health insurance, you’ve a variety of private health insurance polcies available to you:
<ul>
<li>• HMOs (Health Maintenance Organization (HMO)s) are the cheapest health insurance polcies because you are assigned to a network of doctors and hospitals that you must use for your medical care. HMOs charge you a set monthly fee, and you must pay a co-payment (usually $5 to $10) when you see a physician.</li>

<li>• PPOs (Preferred Provider Organization (PPO)ss) are similar to HMOs, but price slightly more because they allow you to see non-network doctors for an additional fee. PPOs charge you for services as they are rendered, and you pay a $5 to $10 co-payment when you see a physician.</li>

<li>• POSs (Point of Service Plans) are a combination of an Health Maintenance Organization (HMO) and a PPO, and price slighly more than either plan. Like an Health Maintenance Organization (HMO), you pay only a nominal fee for health care provided within the network, but like a PPO you’ve the advantage of seeing non-network doctors for an additional fee.</li>
</ul>
*Indemnity Plans are the most expensive health insurance polcies, but give you the most flexibility because you can use doctors and hospitals of your choice. Your doctors sends your bill to the insurance company who pays most of it. You usually have a deductible (the amount you must pay before you insurance company pays your bill), and you are responsible for a portion of the bill (usually 20 percent).