Busting Common Health Insurance Myths

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As they apply for health insurance, many people in California have confusions about the whole idea and look for answers to queries that concern Medical insurance plan and benefits in their individual cases. Everyone may have different needs and reasons to seek insurance and while looking for a suitable California health insurance quote online, they can also consult private brokers for guidance on particular aspects.

Listed below are some common misconceptions or myths associated with health insurance and the reality behind these:

I cannot get health insurance because of my pre-existing condition – Obamacare has stopped the once common issue of being refused insurance due to pre-existing health condition. You can no longer be turned down for principal medical coverage and cannot be charged high premiums because of it. If you smoke however, you may have to pay a higher premium.

I will not be able to afford health insurance – If you feel that the cost of Medical insurance has gone way too high and you will not be able to fit it into your budget, remember that the federal government now provides subsidy for health insurance. In other words, you can get monetary help from the government to pay for your insurance. Subsidies are available not only for the people who are categorized as ‘poor’ but also for those with low incomes. What’s more, subsidies are based on running income and not financial assets like a house or a car. So you are entitled to subsidies as per your yearly earnings and not the size of home that you live in.

Because I am old, health insurance will be too costly – Obamacare has offered solution for this problem too. Even though insurance providers are permitted to charge higher premiums as per advancing age, there is a limit as to how high can they go. Now, the premium on a health policy for the elderly cannot be more than thrice the premium for the younger members of the health plan.

Health insurance will pay for all of my healthcare expenses – Insurance does not pay for all of your healthcare costs. Even if you have health insurance, you need to pay some amount out of your own pocket every year to cover the expenses. Healthcare plans typically come with cost sharing clauses that require you to pay things such as deductibles, copays and co-insurance. Besides, you need to pay 100% of the cost of health or medical care that is not specifically covered as a benefit of your plan. A good thing is that the Affordable Care Act (Obamacare) requires health insurance to offer coverage for 10 essential health benefits that include emergency services, prescription drugs, maternity & newborn care, ambulatory patients services and laboratory services among others.

Health insurance will not pay for elective surgeries – This is not true and a number of surgeries that health insurance pays for are elective surgeries. The concept of an elective surgery should not be confused with something that is ‘not medically essential’. Even a cosmetic surgery may be required for some body part to function properly. For instance some people may go for an eyelid surgery simply to undo the natural drooping of eye that starts with age, and look younger – this is not medically necessary and will not be paid for by Medical insurance. But there can be a case where due to a tumor or injury, the eye lid has drooped so much that the person cannot even see properly – here the insurance carrier is likely to pay for expenses as the treatment is required for an organ to function well.

Do not deny yourself the actual benefits of Medical insurance because of any misconceptions associated with the plans. Feel free to ask for professional help when you need details of specific concepts.

Idea on How You Can Minimize Your Medical Expenses

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Generally there is no such thing as a freebie. Moreover, there is no such factor as cost-free medication. A few years or another, everybody will certainly be in need of medical treatment. Regardless if it would definitely be for basic colds or when it comes to serious health problems, these kinds of things would certainly injure us and burn our pockets.

According to a current research study, Individuals spend much more money on clinical costs instead of there everyday living expenses. As costs get much higher and lifestyle gets harder, saving several cash from your medical expenses may definitely profit you.

Listed here are some useful suggestions on how to cut your net medical expenses:

Mind Your Overall health

Prevention is always more suitable than cure. Being fit and healthy appears to be a 21st century trend and it definitely would not hurt us if we join in the bandwagon. A review of the 1987 National Medical Expenditures Study revealed that people who are even more active invest less on medical expenditures than those who live inactive lives. The analysis equated the advantage of being physically active to $330 each.

For smokers and alcoholics, minimizing cigarette and alcohol intake is an alternative which you may choose possible. You will definitely not only minimize future medical costs but also reduce direct costs from obtaining these products.

Go Generic

Using generic drugs is the way to go. License are used by manufacturers to be able to set a cost so as to recover their costs in developing their products. But these types of patents don’t last forever and sooner or later, generic versions of these drugs will certainly be available. Generic drugs are generally the same as the top quality ones in regards to active ingredients and quality.

Going generic can spare you a ton of money. Depending on the Association of Chain Drug Supplier, the generic drugs are priced at $24 on the average in 2004, while the average price of the branded ones is $96 bucks.

Deal with your Doctor

Take time out to discuss details with your doctor, for this can likewise save you a bunch of cash. Really don’t be shy to ask him about the feasible alternatives that you can take. Question him if generally there is a generic medicine that you can have if he recommends you a branded drug. In the event that you are going to have surgical treatment, attempt to arrange carefully, so as to prevent overstaying in the hospital. And most essentially, do as you are informed. If he asks you to stop your vice, stopped it. If he tells you to be involved, then you ‘d better be!

Medical expenses can truly dig a hole in your budget. Try to be sensible in your medical purchases and more significantly, take care of your wellness.

Why Is the Month of October Devoted As Critical Illness Recognition Month in America?

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Many different staff in America have actually never listened to concerning critical illness insurance provider yet it is so important. That is why Insurance companies have called October as the month for awareness projects. Which takes care of your insurance?

Don t think it will happen to you? Well, reconsider. The numbers promote themselves. 75 % of everybody that is over 50 will experience critical illness at some point in their lives. Rise that number by 5 % and the numbers go higher. It is just an issue of time for a lot of grownups. Many individuals assume that their clinical insurance policy will pay for their clinical bills. While this is real, there are a bunch of additional expenses that they are not prepared to cover. If you have to view a specialist for circumstance, you need to foot the bill on your own.

If you require life saving procedure or experimental treatment insurance will certainly not spend for it. Even if you should take a trip overseas to see a specialist your regular medical insurance coverage could just pay a few of the prices. Exactly what does this do to your finances? They will be ruined most critical illness expenses involve in between $20,000 as well as $100,000.

Let us state that you have an illness which refuses you to work as is the instance with a lot of critical illnesses. The whole point of making October the critical illness awareness month is to bring this info to the masses. If you assume that this doesn t affect you, take right into account that one-half of all insolvencies in America are as a direct outcome of critical illness.

Besides taking treatment of medical costs and also living costs, critical insurance comes with 2 excellent benefits:

Any individual could take it out even if they don t have medical insurance. Although the Obamacare Act afforded many different more people with clinical insurance, there are still numerous that are overlooked of the bracket. If you are you ought to consider getting critical wellness insurance provider to care for points when you are down.

There are extremely couple of pre-existing disorders that are excluded in critical illness insurance. You could not get average insurance if you have a few of the primary diseases that affect Americans. The couple of business that permit crew with pre-existing conditions to secure plans with them normally ask for quite high premiums. This is not the situation with critical illness insurance provider. Although it differs from business to business, there are very couple of restrictions.

Super Visa Medical Insurance

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Though there are many Insurance companies which provide insurance to an individual or an organization. If you are a working individual or own company then getting a insurance is a worthful idea. Before you buy insurance you must read all term and conditions which misguide if you would read that properly. The best idea is to hire a broker who will guide and take care of all your Insurance policy.

Life insurance:
Life insurance is the most important we people do purchase in our Life. Life insurance gives not only financial support to your family and loved ones but also return after certain period. Life Insurance provides means of handling your final expenses in case of sudden accident or death.

Advantage of Life Insurance:

Life insurance provides an infusion of cash for dealing with the adverse financial consequences of the insured’s death.
To get rid of worries about your family and want to secure their future.
Death benefits may be estate-tax free if the policy is owned properly.
Policy loans are income tax free.
Cash values grow tax deferred during the insured’s lifetime.
A life insurance policy may be exchanged for another life insurance policy (or for an annuity) without incurring current taxation.

Health Insurance:
Medical causality may deteriorate your financial balance. To get rid of all worries personal Health insurance is necessary. Personal Health insurance offers coverage for a wide range of procedures and treatments. These are categorized as Personal Health Insurance, Disability Life Insurance, Critical Illness Insurance, Drug and Dental Insurance And Long term Care Insurance.
Advantages of Health Insurance:
Covers your medical expenses if you fall sick and more.
Disability Life Insurance: It gives financial protection when a person is unable to work because of an accident or illness. The insurance covers you in case of any accident or illness without worrying about financial support.
Critical illness Insurance: Benefit of this insurance that it covers for the serious disease such as cancer, heart attack, stroke, bypass surgery, paralysis, brain-tumor, coma etc.
Provides Ambulatory patient services & Emergency services
Hospitalization Services and Prescription drugs
Maternity and newborn care
Mental health and substance abuse disorder services (including behavioral health treatment)
Rehabilitative and habilitative services and devices
Laboratory services
Preventive and wellness services and chronic disease management
Pediatric services, including oral and vision care
Travel Insurance:
Travel Insurances are made to cover losses arising from sudden and unforeseeable circumstances due to an emergency during traveling. It is to be noted that insurances coverage are subject to certain limitations and exclusions.

Advantages of Travel Insurance:
Emergency Medical Expenses: In case emergency necessary medical expenses are covered.
Emergency Return Home: In case of medical emergency or any other emergency transportation arrangement are provided along with proper medical supervision.
Hospital Stay Allowance: During an emergency Sickness or Injury in which you are admitted to hospital, the complete allowance is paid by company.
Flight delay: travel insurance also include compensation if flight is delayed by more than 12 hours.
Loss of Passport: After confirmation and FIR documentation, expenses are paid to obtain a fresh new passport.
Loss of Checked Baggage: Compensation for the permanent loss of checked-in-baggage is given to customer.

What Are The Benefits To Your Business Of Having A Company Or Group Private Health Insurance Policy?

Business health insurance provides an amount of credible benefits to one’s company and brand.
Group medical insurance, is an insurance plan, offered to a group of people working in an organization. The insurance policy usually covers every employee under its umbrella and helps them with prompt medical consultations and treatments if required.
There are many advantages of having a good company health insurance plan.
> A group insurance can provide comprehensive cover

Insurance providers can offer excellent benefits for all employees of the company. From the initial consultations to the diagnosis and prompt treatments at a private hospital.

> Increased production level

Providing employees with the benefits of a good company medical insurance plan will gain their goodwill, and at the same time help to keep them healthier, which in turn, will increase productivity owing to less time off work.

> Reduction in cost due to tax benefits

Basically whenever you take a group insurance policy, as a company, the premium comes under €business expenses’ – corporation tax rebate. Speak to your accountant about this.

> Help in retaining employees

To retain employees is one of the primary concerns today, with so many possibilities strewn across the country for them. Giving such a benefit as the medical insurance policy to your employees can help in the retention of good talent.

There are lots of insurance providers in the UK, who provide excellent company insurance policies. If you are finding it difficult to pick out one of the many group medical insurance policies in the market, contact insurance consulting agencies, for a faster processing.

Basically the information required includes personal information like name, address, date of birth, level of cover and underwriting required – if fully underwritten your doctor’s details and medical history. Ensure that all the information that you provide in the form is correct as non-disclosure may lead to a future claim being declined. The good news is that more and more companies have now introduced tele-underwriting where you can speak to a trained tele-underwriter who will go through all the medical questions with you over the phone which can significantly reduce the chances of misunderstanding and hence non-disclosure.

A good health insurance consultant or broker can provide you with all the details of the best insurance policies, and then, recommend the one based on your specific requirements. Therefore, before purchasing a group insurance policy, it will defiantly be beneficial for you in the long run to contact a specialist broker in this field.

The Concept of Balance Billing With Health Insurance

Have you just applied or are trying to apply for private health insurance in Georgia to get insurance for the year 2015? You may have discussed things like copay, co-insurance and deductibles with your colleagues or with the representatives of the company that you have chosen for your health insurance plan. Another concept that should be understood while applying for insurance is that of balance billing.

Balance billing is done after you have paid your deductible, co-insurance or copayment and your insurance provider has also paid its part of the costs involved in the concerned treatment, health service or purchase of medicines. If, even after the payment through all of these, there is still a balance to be paid on the total bill and the physician or the hospital asks you to pay the bill, you are getting balance billed.

Is balance billing really legal? This actually depends upon the circumstances in a particular case and on the insurance laws of your state. Usually, balance billing is not legal in the following cases:

> When you are signed up for Medicare and you have a healthcare service provider that accepts Medicare assignment.

> When you are signed up for Medicaid and you have a healthcare service provider that has an agreement with Medicaid.

> When your physician or hospital has a contract with your health insurance plan providing company (for concessions or discounted billing) and has billed you over and above what the contract allows.

In all of the instances mentioned above, the agreement between the healthcare service provider and Medicare, Medicaid or your health insurance company includes a clause that rules out balance billing.

For instance, if a hospital signs up with Medicare to offer services to Medicare patients, it has to agree upon and accept the rate negotiated under Medicare and this also includes deductible payment, as payment in full. This is known as accepting Medicare assignment.

Balance billing is legal in certain other cases and these are:

> When you have a healthcare service provider that has no special contract with your insurance plan providing company, or Medicare or Medicaid – this is common scenario in medical practices.

> When you need to / wish to get services that are not covered by your particular health insurance plan, even if those services come through a healthcare provider that has a contract with your insurance company. This situation often applies for purely cosmetic or age defying surgeries. In these cases, you will usually have to pay for the full bill.

As health insurance is also regulated differently by each state, a particular state’s laws specify if and when balance billing is legal. Some states may also have laws on balance billing that can differ from the broad principles mentioned above. You can check the details of same for your state through the broker who helps you to apply for a suitable health insurance plan.

Balance billing calculations

When you get care from a doctor, clinic, hospital, or other health care center that is outside your insurance company’s provider network, the concerned provider can bill you according to their usual rates (which may be quite high). As your insurance company did not negotiate for any concessions rates with the provider, they are not obliged by any contract concerning your health plan.

Even if your insurance company consents to pay a proportion of your out-of-network care costs, the health plan does not really pay a part of what is actually charged from you. It pays a fraction of what should have been charged’ as a reasonable amount for the particular service. It is simple to understand that the reasonable amount’ would be typically lower than the amount that actually stands on your bill. And so, the balance billing is the remainder of what the insurance company says is reasonable and what the provider charges. So you need to pay for this extra amount.

The Costs of Health Insurance Group Coverage

Have you been checking small business health insurance quotes for 2015? Health insurance costs can vary significantly as per the type, size and location of a business. The features of the insurance plan selected also impact the costs of health insurance. For a small business, in some states, the health status of its employees and their families can affect the group’s premium when the business buys or renews coverage.

The most important price consideration for your business is usually the monthly premium. Generally, this amount is shared by the employer and the employees. The insurance plan carrier determines the premiums on annual basis and it may modify these rates according to changes in healthcare and medical costs index, the number of employees and their dependents insured, and the changes in benefits offered or cost sharing between employees. The employees have the option of paying their premiums through pre-tax payroll deductions that help in reducing their premium and make health coverage more affordable for them.

There are certain states in the U.S. where insurance companies consider the health status to establish a company’s premium through the process of €medical underwriting’. The premium costs may therefore increase and at times quite significantly, if one or more employees or their dependants have a pre-existing medical condition. It should also be mentioned here that under non-discrimination rules, if an employee/employees meets/meet the basic eligibility requirements, they cannot be excluded from health coverage policy on grounds of their pre-existing medical conditions.

Employee cost sharing

Employee cost sharing refers to the share of health insurance costs – over and above the premium contribution – that employees are supposed to pay out-of-pocket for a health service, medicine or treatment. The expenses under employee cost sharing include:

Deductible – This is the amount that the insured person needs to pay for covered health services before the expenses are paid by the health plan. Once the yearly deductible is met, the plan starts to pay for the enrollee’s medical expenses. Annual deductibles generally range between $100 and $500 per person but this amount has been increasing with rise in inflation. Certain plans keep separate deductibles for pharmacy benefits.

Co-payment – Co-payment is a fixed dollar amount that insured person pays each time he/she seeks medical services. For instance, it could be $12 when they need to see a primary healthcare doctor and $35 when they need to be admitted for emergency care. Health plans typically have separate co-pay conditions for different prescription drugs and it is higher for specialty medicines.

Co-insurance – It refers to the percentage of the total medical bill that the insured person needs to pay. Commonly the arrangement is that enrollers have to pay 20% and the health insurance plan pays 80% of the total cost. Of late, some plans have been requiring the insured to pay greater co-insurance amounts – between 30% and 50% – especially for the services offered outside the network of providers.

Understanding Provider Choice

Provider choice implies the degree to which the insured can choose among doctors and specialists based in their geographic areas. The conventional Health Maintenance Organizations (HMOs) have limited provider networks to control costs and they may provide relatively small provider choice. Furthermore, with HMOs you typically need a referral to see a specialist. A point-of-service (POS) plan is an HMO that permits you to go out of the HMO provider network and there is no need to incur full (100%) costs of doing so. Therefore with POS plans you get more provider choice than the traditional HMOs.

Preferred Provider Organizations (PPOs) give you the widest access to providers. This is because their own network is very large and above that they give access to out-of-network provider, although that’s at a higher price than in their own network.

Choosing a Good Health Insurance Plan for Your Employees

As a small business owner, it is good for you to get health insurance for your employees as besides the security of coverage, the money that you spend for this can give you benefits when you file your annual tax returns.

While group health insurance is said to be €employer sponsored’ coverage, the regular premiums are paid by both the employer and the employees. In many states, employers need to pay at least half of the monthly premium for their workers. You need to keep this in mind while checking small business health insurance quotes in your state. A licensed team of private health insurance brokers should be consulted when you are unsure about something.

Some simple points that will help you in making the right choice of the health insurance plan for your company are given here:

The health and medical benefits – If you have a small business with not many full-time employees, it will be easier for you to choose the actual benefits that matter more to you and your employees. You can avoid plans that offer high-cost benefits such as maternity care if there are hardly any people who would need them.

The costs – Concentrate more on those plans that fall within your business budget in terms of premium cost sharing (between employer and employees), the deductibles, the copayments, and the coinsurance. It makes sense to go for a high deductible plan if your first priority is a low monthly premium.

The health insurance provider or brand – The reviews that you might have read online and the recommendations by your friends or own employees can help you to shortlist certain health insurance brands and also to avoid some. Your insurance broker can also provide help for this job.

Coverage add-ons – Some business owners also like to offer vision or/and dental coverage to your employees as an additional benefit. For instance, insurance for vision can be good in cases where the work is particularly strenuous to eyes. Do remember, there are group health coverage plans that let you add such benefits to the medical coverage instead of you having to purchase them separately – check the details of the plan for such offers.

The Application Process

After choosing the business health insurance plan that you want to apply for, your broker will help you in filling the application form properly. Ensure that you answer every question sincerely to the best of your knowledge. Records of zip codes and date of birth of your employees may be required for the application.

An advantage of group or business coverage is that even though the overall health of people covered under the plan you choose impacts (in some cases) your monthly premiums, no one in the organization can be refused the health plan due to his or her medical condition or history. The legal status of your business itself qualifies you to be eligible for group health insurance covering all your employees and at times their families.

Enrollment is the actual process of getting all your employees and the dependants in their family signed up for the health plan. This calls for the collection of all documents that need to be submitted to the concerned health insurance company. To avoid making this process very long and complicated, you can again seek the help of licensed brokers.

How Term Life Insurance Works

This is life insurance that provides coverage for a fixed premium rate but for a limited period of time that is relevant to the insurance seeker. After that period expires, coverage at the prior rate of premiums is not guaranteed. The client must either forgo coverage on his own or obtain further coverage but with different payment arrangements. If the person insured by term insrance dies then the death benefit is paid to the beneficiary. This type of insurance is suitable for those seeking to get lifeinsurance at an affordable rate because the quotes are reasonable. This type is the original form of life insurance and can be contrasted to other forms.

Other forms of life insurance are the permanent ones such as whole life, universal life and variable universal life. These other forms guarantee coverage at fixed premiums for the whole lifetime of the covered individual. Since term life insurance is pure death benefit, it works by providing coverage of financial responsibilities for the insured individual and his beneficiaries. Such responsibilities include but not restricted to university education, mortgages, consumer debt, funeral costs and dependent care. All these responsibilities can be covered for an individual when he dies at reasonable quotes. This type of insurance is preferred by many people over permanent insurance mainly because of its affordability depending on the length of the term covered. Unlike permanent life insurance, this insurance does not charge higher for those with health issues or those who are at risk to be unhealthy for example chain smokers.

The simplest form of term life insurance is for a period of one year. This is the least amount of period that an individual can apply for cover. The death benefit will be paid by the insurance company if the person insured dies during the one year period. The disadvantage with this form of insurance is that no cover will be paid if the insured dies a day after the one year period. The quotes paid by the individual taking cover will be based in the probability of the insured dying within the one year period. Purchase of coverage for one year is however rare because the likelihood of someone dying in the next one year is low. Just like other forms of insurance, renewal is required for this type of insurance. The main difficulty in renewing the cover for another term is providing proof of insurability.

Providing proof of insurability is difficult because the future is uncertain. Anything could happen in the period between your last term and the time you are seeking renewal of the term life insurance. For example you could acquire a terminal illness within that period but not die until the term expires. With this kind of illness, if the term expires then the individual will likely be uninsurable and would be unable to renew the policy or purchase a new one. Some insurance offer a feature called guaranteed reinsurability that does not require proof of insurability but this is offered at higher quotes.

Tips of Reducing Your Life Insurance Premium

A premium is the monthly amount that is paid by an insured individual to the insurance company depending on the type of insurance cover provided. Premiums differ from one type of insurance to the other. Most people are afraid to take life insurance cover because of the relatively high quotes required by most insurance companies. Before a premium is determined, the insurance company has to assess the individual for health issues before setting a premium amount to be paid. Individuals can reduce the amount of premium, they are paying by avoiding certain behaviors or habits and doing others that make them healthy. Premiums for life insurance Canada recipients differ for each individual depending on their physical health.

The first tip of reducing the premium you pay is by quitting smoking for those who are smokers. Smokers are prone to lung diseases while non smokers are prone to live longer. Insurance companies would not like to insure someone who is prone to die within the term he is insured for. A non smoker may likely live longer and therefore the insurance company will have more years to collect his premium payments before having to possible pay out on the policy when you die. The quotes for a smoker and a non smoker will also differ. Another tip is to lose weight. Weight loss leads to lower cholesterol levels, lower blood pressure and low risk of developing chronic diseases such as diabetes. When you are a life insurance Canada recipient, you are always advised to lose weight before taking a life insurance cover so that you can pay lower premium.

Another tip of reducing the premium you pay is reducing or eliminating alcohol intake. Drinking can pose a health risk such as liver cirrhosis. Companies will check your application, driving record and medical exam to get a grasp of your drinking habits before giving you the insurance quotes. Drinking less alcohol or stopping completely makes you as an insured individual less risky to the company. This means that the company will reward you with a lower premium. The term life insurance Canada premiums are relatively affordable than permanent ones but can be even more affordable if you are healthy. Individual should therefore be smart enough to ensure that they are in great health before applying for a term life insurance or any other form of life insurance.

Another tip is improving your driving. Reckless driving puts an insured individual under high risks of getting an accident and dying or being permanently injured. Insurance companies will be at risk to pay for the death benefit of such people within the period covered. Such individuals always receive very high quotes for their premiums. Insurance companies will assess the driving records of an individual before setting a premium to be paid. Other companies such as life insurance Canada companies may go a step further to give the individual a driving test.