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Posts Tagged ‘medical’

Private Health Insurance To Assist With Medical Bills

June 5th, 2018 Comments off

When you buy insurance, most people hope it never has to be used. Using insurance means that you have had a loss. Life insurance only pays when there is an death. Auto insurance pays for car thievery or an accident. Health insurance pays when you are sick or injured. Since we cannot project when we become sick, personal health insurance is there to help meet our medical expenses. Private health insurance is not always cheap. It can be a major expense that is paid on a monthly basis.

The time when employers offered medical insurance to all employees has been gone. Additionally, employers that provide extended benefits to the family are even more rare. Employers are presented with reducing insurance costs or reducing employees. Thus, lots of companies have had to do away with this once very open fringe profit. Although this may increase profits for employers, it can create a real hardship on employees, lots of who may have also had their hours lessoned.

Today lots of consumers see that they must provide private health insurance for their family. If you must make the switch to private insurance from a group plan, you will need to have a letter from your previous carrier to testify you had prior coverage. It there has been only a short time span between when the last insurance ended and the new policy begins; any preexisting conditions may be handled without any waiting period of time. Otherwise, you may have to wait for 6 months to a year before the insurance policy will address any expenses of preexisting conditions.

One way that several people save cash on insurance is by buying plans that have higher deductibles. This will mean a higher out of pocket write off when you need to use the medical coverage, so be sure that this makes actual financial sense for your family. Always pick out the plan that is greatest for your individual needs.

Some hospitals now demand that patients pay the deductible part of their insurance before checking into the hospital for surgery. This is to decrease their expenses associated to the cost of collections. If you have the higher deductible, you will need to have the higher amount of money to pay this fee up front.

You will also be charged your portion of any hospital stay. This may be 20% or more of the cost of the hospital visit. Many insurance companies place a cap on your maximum out of pocket expenses.

Individual health insurance may appear pricey, but it will save you money for hospital and medical expenses down the road. When there is an emergency, you will be smiling that you have made this effort.

The author has been an insurance worker for over 23 years. She has discovered a great resource for those of you that want to read more articles on cheap personal medical insurance and affordable health coverage plans.

What You Need To Understand When Taking Out Health Insurance

April 29th, 2018 Comments off

The world is advancing. As technology improves, more and more medical treatments and methods are being developed. As a result, the costs for health care increases accordingly. This makes health insurance essential. It helps in paying medical bills and provides protection for you and your family in the event of unexpected injuries of illnesses that could be rather costly. Furthermore, those who have health insurance are more likely to get routine care.

You have no way of knowing how your medical bills would be like. There may be a time when they will be low and manageable but during other times, you may have very steep medical bills. You will have peace of mind if you are insured because you know that if such situations arise, you will be protected from most of the costs. You must not wait for your loved one to get sick or injured before you try to buy health insurance.

Health insured individuals are more likely to get routine health care. Research shows that the individuals who have higher chances of getting a regular doctor are those with health insurance. Therefore, they can easily get medical care whenever they need it.

Health insurance is divided into two categories: group insurance and individual insurance. Group insurance is typically provided by employers or by a union to which a person belongs. Some employers provide only one insurance plan while some make different plans available to employees for them to choose from. On top of the medical help benefits, some plans under group insurance include dental and vision benefits. Fir group insurance from an employer, you will pay for a lower premium because your employer will share for the costs. If it is from a union, on the other hand, you will pay for the premium by yourself but the cost for it is still lower compared to the standard.

Not all people have access to group insurance, such as those who are self-employed and those whose employers do not offer health insurance. This is why individual insurance is available. As the name suggests, you need not belong to an organization or have an employer to purchase individual insurance. You can get it directly from an insurance provider. Usually, Americans buy health insurance from government health programs such as Medicare.

Group insurance is, needless to say, cheaper than an individual health plan since with the former, you either get a lower premium or get the normal rate but with someone to share the costs with. If you have no access to group insurance therefore, you must do a lot of comparing before you settle for a plan so you can find a good deal with a premium rate that you can afford to pay.

When choosing a health insurance plan, whether group insurance or an individual plan, you must consider the following factors: cost of premiums, benefits, amount of coverage, amount of deductibles, access to hospital, doctors, and other medical providers, access to emergency health care, and the limitations.

Dawn Enstruthe writes for website SD Health Insurance which has details of low cost dental insurance for self employed and best price dental insurance for students.

Health Care Providers Basic Facts

December 4th, 2014 Comments off

Employees today usually have a health plan provided by their respective companies. This is either from an HMO, Health Maintenance Organization or a PPO, Preferred Provider Organization. The third option is the POS or a Point of service plan. Here are some of the basic facts about HMOs and PPOs to help you figure out health insurance providers.

If you are enrolled in a Health Maintenance Organization then all of your health needs will be serviced by one provider. There are a network of hospitals, laboratories, clinics and pharmacies that you can avail of services from. You are also required to select a PCP or a Primary Care Physician who will be the one to manage your health needs and coordinate with hospitals and clinics on your behalf. A referral is needed from your PCP whenever you need to consult a specialist based in another hospital or clinic that is part of the network.

The PPO network will not require people to have a PCP if they are enrolled here. You can go to any clinic or hospital that is part of the network and you can choose your own doctor. You do not need any referrals and you only have to pay the annual deductible. If you go to a nonmember hospital or clinic then you need to pay more.

For payments in HMOs you will only need to pay for your prescriptions, doctor visits and procedures. Employees also need to pay their monthly dues together with their employers. Some PPOs have the option of allowing people to pay for an annual deductible for any medical services that you have to avail from non-accredited clinics and hospitals. It is great that PPOs can reimburse any health expenses as long as you have an official receipt from the said hospital. HMOs do not have option like this one so you have to go to an accredited hospital for your treatment.

You have just read some of the basic facts about HMOs and PPOs that provide health care insurance. Make sure that you choose a health care provider that will benefit you more and be suited to your health care needs.

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How Will The Younger Generations Be Effected When It Comes To Finding Medical Coverage In A Downward Economy?

November 3rd, 2014 Comments off

Health insurance is one important aspect of life and living without it can not only make your financial stability shaky, but put your life in danger. Many youth who are aging in the adult population are forced to live without health insurance. Health insurance premiums are too expensive for those who leave school and get their careers off the ground.

The current labor market makes it difficult to achieve even having a degree from a good university will not be able to provide you much help. Which means many graduates settle for jobs that may or may not even be in their area. And with the rising cost of health care more for employers they are forced to drop health insurance as a benefit of work simply because they can no longer afford to help employees pay their premiums.

The little bit extra that employees might be making is little consolation when it comes to helping them afford health insurance. On average most employers will only raise an employee’s salary by a few dollars an hour if they don’t offer health insurance benefits and this is not even close to the amount that they will wind up paying to insure themselves and their families through a private pay insurance policy.

The problem undoubtedly lies in the high cost of health insurance premiums that is directly proportional to the high cost of medical care itself, which is directly proportional to the high cost of malpractice insurance which is directly proportional to the number of professionals health, pharmaceutical companies, and government agencies that face lawsuits advanced by those who have been harmed or injured by the medical community. Now, maybe this seems like a lot of variables, but when you remove the middle you are left with the fact that the high cost of health insurance is caused by medical malpractice.

Knowing that one must wonder if the medical profession is aiding or harming their cause. After all, if medical liability issues weren’t so common, there would be fewer lawsuits and doctors would not require malpractice insurance and therefore the cost of health care would be reduced. Many doctors consider this to be caused by lawyers and that people expect them to be miracle workers, and neither is to far from the truth. Regardless of whose fault it is the cycle must be broken if we are ever going to see health insurance premiums fall.

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The Importance Of Not Taking Your Medical Coverage For Granted

November 2nd, 2014 Comments off

When you are healthy you probably don’t worry to much about your health insurance coverage, after all you have some and that is all that matters, right? Well, honestly you will only truly understand the depth of coverage of your health insurance if you have a serious health issue that arises and it is only then that you will really realize what those limits mean and how they can affect your quality of life.

One thing is for certain when most people who are in their twenties are looking at their health insurance policy and staring at the place where it says that they have a lifetime benefit of a million dollars, they are probably thinking that sounds pretty good; never anticipating that if they hit just one serious health issue that a million dollars will only go so far.

Sure a million dollars sounds like a lot but think about the high costs of health care and hospital stays and it is easy to see where a million dollars won’t be enough for the next forty years, even if you only encounter small health issues. You see that while your health insurance benefit maximum will probably stay at a million each year the cost of health care is rising and if a million dollars today is not the equivalent of what a million dollars was 20 years ago, then imagine how much less that will be 20 years from now.

While it may seem that this is more than an ample amount of insurance coverage, it may not even be near the amount needed to cover health problems related to the length of his life. And if you’re already looking at some health problems, then you probably have noticed that the bills add up very quickly for testing, doctor visits and hospital stays. Even out patient procedures are very expensive.

It is therefore logical to try to obtain health insurance that has few limitations so that you will get the most of your health insurance over time. Having your health insurance coverage fall short just when you need it most is truly disastrous. The point of having insurance coverage is whether it will be there when you need it and not run low if you’re in a crisis. Otherwise, what have you really accomplished?

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