Health Spas Guide » Insurance

Finding Affordable Health Insurance

admin — Tue, 20 Apr 2010 12:10:09 +0000

One of the biggest reasons for debt in the US is the huge cost of medical bills. It figures then that many people in the US are also without any health coverage.

Most people can get health insurance through their employers, but if you are self-employed or work at a company that offers no health plan, then it becomes quite tough to find affordable insurance.

I used to be self-employed myself several years ago, and so I know how expensive health insurance is to get on your own. Even the simplest of coverage costs thousands of dollars each year. Frankly I had to eventually give it up, because with the little income I was taking in, I just couldn’t afford it. Believe me, that’s a scary feeling not being insured.

Now that I am employed, I am insured through work. Even there isn’t all that cheap, and the rates keep going up. Plus my co-payment went from $10 to $20 this year, a 100% increase. But still I’m glad to have the insurance; it’s still cheaper than getting it on my own.

But if you aren’t lucky enough to get insured through your employer, then you need to look elsewhere. But there are ways to find some affordable health insurance, and the best way I think is through the internet.

A couple of sites to check are http://www.healthinsurancesavings.com or http://www.self-employed-health-care.com. They both require you to enter a zip code, so they can show you the best choices in your location.

There are other similar sites you can browse through to find information. But be aware that you may have to divulge personal data about yourself to these sites. Some people aren’t comfortable with doing that, especially over the internet.

If you aren’t comfortable giving such personal information away, you can call the contacts at these sites and speak directly with them, and perhaps you can set up interviews with various providers. All this may sound like a burden and imposition, but you have to do what you have to do if you want affordable health insurance for you and your family.

Being insured, especially if you have a family, is very important in today’s world. So please take it upon yourself to do some research, and find the best health insurance you can afford.

By: Jim Konerko

Potential Reasons For Health Insurance Denial

admin — Thu, 15 Apr 2010 14:59:45 +0000

Unfortunately, there are many people who receive letters of denial from health insurance companies. There are a variety of reasons why this happens- some can be avoided, but not all. The truth is that certain individuals are higher risk and as health insurance is a risk business, they have to weigh certain factors to make the decisions that they do. Insurance is actually a gamble for both the insured and the insurer themselves because on either side- someone will lose money for the protection that is needed. Ultimately, the numbers are what wins, but there are a few things that you can do if you have been denied coverage.

Firstly, if you were denied on the basis of something that is inaccurate, you can dispute this. The way that the insurers receive the information about your health, whether you disclose it or not is through the Medical Information Bureau. This is something like the credit report for your health and contains medical records on anyone who has ever had health insurance of any sort and the conditions that they have had. You can do this once yearly at no charge. If you find errors, you can then go about filing the corrections and going from there.

If you have not yet been denied health insurance, or you have been denied by one company but wish to continue seeking coverage, it is a good idea to obtain a copy of this report so that you can either correct inaccuracies or better understand your position and your options. Further, one of the major reasons that people are denied health care coverage is due to age and smoking combined as a factor. Speak to your doctor about getting on a quit plan as soon as you can and see your doctor as often as you can afford to update your status in that- quitting will increase your chances of getting the coverage you need at a rate you can afford.

As to pre-existing conditions, do not fear that this automatically makes you uninsurable. There are some insurers that will accept patients with certain pre-existing conditions on an exclusion period, under certain conditions. An exclusion period is where the insurance company denies those claims relating to the pre-existing condition for a certain period of time. These greatly differ sometimes from state to state, so it is worth asking about. Bearing in mind that there are numerous factors involved in a denial of coverage, being able to find out exactly what that is and how it stacks up in your MIB report can help you to potentially find the coverage you need in time.

By: Henry Fleet

Health Insurance – The Role Of The Broker

admin — Fri, 02 Apr 2010 01:59:16 +0000

For many people, seeking health insurance is a daunting prospect with a number of companies to choose from each offering a range of policies which can be both complex and difficult to decipher. For this reason it is often wise to employ the services of a broker to match your needs to the right health insurance company and policy.

Having chosen a broker it is a simple matter of giving him your medical details, including details of such things as any pre-existing conditions from which you are suffering and medications you are currently taking, and a list of the things that would wish to see covered in your policy. The broker then looks at a variety of companies and different policies and comes back to you with his recommendations. Once you have had a chance to study these, and to ask any questions that you might have, the broker will then work with you to get your health insurance contract signed and your policy issued.

It is important to understand that a health insurance broker works independently and is not employed by any particular health insurance company. His job is to study the health insurance market and to acquaint himself with the full range of cover available, as well as with how each insurance company operates including such things as its reputation, the frequency with which it increases premiums and the manner in which it handles claims.

Although the broker is independent it is also important to understand that he makes his money by way of a commission each time a contract is completed and that his commission will vary from one insurance company to the next. You may well feel therefore that it is in his interest to recommend a policy to you which earns him the highest commission. If this is something that concerns you then you should discuss this with the broker. If he is a sound and reputable broker he will have no difficulty in discussing this openly with you.

Despite the fact that the broker will be earning commission from the sale of your policy, which effectively comes from your premiums, it does not necessarily follow that a policy purchased through a broker will be more expensive and you will usually find that the same policy purchased directly from the company will cost you exactly the same amount as money as you will end up paying in buying through a broker.

In addition, a broker will often be able to find you a deal which you are unlikely to uncover on your own simply as a result of his knowledge of the marketplace.

Surprisingly, perhaps because the rules on health insurance are constantly changing, health insurance brokers are fairly thin on the ground. In addition, most states require health insurance brokers to be licensed and the licensing requirements vary from state to state.

If you feel confident about seeking out your own health insurance policy and are happy that you can understand the technicalities of a health insurance contract and the details of the small print then all well and good. But, if this is not the case, then a health insurance broker could turn out to be your best friend.

By: Donald Saunders

What Is A Health Savings Account

admin — Tue, 30 Mar 2010 14:06:46 +0000

Have you noticed all the different health insurance options floating around out there? PPO, HMO, and HSA, just to name a few. Have you ever wondered what they all do, how much you need, or better yet, what all the abbreviations stand for? Probably so! Well, here are some basic points to help you understand what types of insurance are best for you.

One great type of health insurance is the Health Savings Account (HSA). Some major points to know about HSAs are:

It is a major medical policy with a large deductible and a low premium. An excellent way to control your monthly premiums while saving for any future costs you may have. You can save up to about 70% on your premium as you are saving money that can be used tax-free on medical expenses. The amount saved in your HSA rolls over from year to year, allowing that savings to gain interest or investment earnings. You can take money out of this account tax- and penalty-free whenever needed for medical expenses. If it’s used for anything else, you pay taxes and a BIG penalty. This money must be used for medical, dental and vision care; however, dental and vision payments don’t count toward your deductible.
Source: Bankrate.com

By: Dave Ramsey

A Traditional Indemnity Health Insurance Plan Or A Managed Care Plan?

admin — Sat, 20 Mar 2010 23:33:50 +0000

For many years people felt that they were trapped between a traditional indemnity health insurance plan (a wide range of choice and high degree of security in the event of serious accident or illness which came at a high cost) and a managed care plan (a focus on preventative medicine at relatively low cost but with severely limited choice).

Today however it is possible to some extent to enjoy the benefits of both traditional indemnity insurance and managed health care through a variation on the original Health Maintenance Organization (HMO) model known as a Preferred Provider Organization (PPO).

A PPO is essentially an HMO which means that the insurance company will establish a network of healthcare providers and, in exchange for a relatively low cost, will encourage, or in some cases require, policyholders to seek treatment within the HMO’s network. Where treatment is taken outside of the HMO’s network much, if not all, of the cost of such treatment normally has to be borne by the policyholder. However, in the case of a PPO, the rules for policyholders who wish to seek care outside of the HMO’s network are relaxed.

Within an HMO a policyholder is assigned to a particular doctor or primary care physician (often referred to as a “gatekeeper”) and the policyholder must go through the primary care physician in order to receive treatment. If, for example, the policyholder wishes to see a specialist then he or she will have to be referred by the primary care physician and may or may not have a say in which particular specialist they are referred to.

In a PPO however no primary care physician is assigned and so no referral is required. Policyholders are free therefore should they choose to do so to seek treatment through a specialist who is not a member of the HMO’s network.

There are of course cost implications to this choice and policyholders will almost certainly have to pay more for treatment with a doctor or in a facility that is outside of the HMO’s network than they would if they sought treatment within the network. Nevertheless, unlike the HMO model, the PPO gives the policyholder the choice.

If you like, a PPO provides policyholders with the low cost managed health benefits of the HMO with the option to elect for the greater choice, albeit higher cost, of indemnity insurance when it suits their needs.

It will probably come as no surprise to find that today traditional indemnity policies are fast disappearing and that there are now twice as many people enrolled in PPOs as there are in HMOs.

By: Donald Saunders