Archive for May, 2008
Wednesday, May 21st, 2008
Cheaper Health Insurance for Floridians
Floridans seems to get all the luck. They get sunshine for most part of the year, they got great beaches, and temperatures. Now they get cheaper health insurance.
There’s a new law signed last Wednesday by Gov. Charlie Crist that lets insurance firms to offer a basic package for health plans without the usual required coverages. The good news? It might just cost Floridians $150 a month.
“It is not the Cadillac of health plans, but it offers something very, very important for the citizens of our state,” the governor said. Shrinking the number of people in Florida without health insurance, now about 3.8 million, has been one of Crist’s top priorities.
Sunday, May 18th, 2008
Gaps in Medicare? Get Medicap
If you’ve got that sinking feeling that there might be gaps in your Medicare coverage, you may be right. However, if you do find a gap, what do you do? A lot of elderly Americans these days have a hard time with paying for medical expenses they assumed would already be covered.
In case, you do see gaps in the Medicare coverages (or you might be worried in the future you will), it is advisable that you purchase Medigap. It is designed to fill in the gaps in your Medicare coverages. These are usually sold through private insurance companies and are standardized and regulated by state and federal law.
Friday, May 16th, 2008
The Elderly and Health Insurance
Growing old may mean more time in taking care of your health. However, once you resign and you’re no longer covered by your company’s health insurance program what do you do? Get a long term health insurance before this happens to you.
Long Term Care Insurance or LTCI will be useful when you’re in the twilight of your years and probably no more resource for money to pay for a normal health insurance policy. However, deciding when to buy an LTCI policy will depend on a lot of factors, as buying them while you’re young means less expensive premiums to pay but you may be paying it over a very long time. It’s suggested that one should buy this type of insurance at around the 50’s to 60’s age range.
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Wednesday, May 14th, 2008
Get a COBRA
For those who got fired (not including those who got fired because of gross misconduct) or just recently resigned to look for a new job, you need not worry about your health insurance coverage…that is if you can afford it, thanks to Consolidated Omnibus Budget Reconciliation Act of 1985, otherwise known as COBRA.
For a name synonymous with snakes and poisons, it can help you weather out the storm while you look for a new way to cover health insurance for yourself and your loved ones. According to this act you have the right to continue your former employer’s group plan for individual or family health insurance for up to 18 months at your own expense.
If you’re currently employed, ask your HR personnel for more details.
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Monday, May 12th, 2008
Health Insurance for Short-term Situations
If there’s anytime, that you would suddenly lose health insurance, either because you’re a new graduate looking for a job, or someone who just got a job and your health insurance benefit comes into the scene three months after. If you fall somewhere within these types, then you might be interested in looking for a health insurance that will temporarily cover you and/or your family.
Most short-term health insurance has a coverage ranging from 180 days to 12 months tops. It’ll cover accidents or sudden illnesses. You’ll be in charge of picking your own doctor or clinic, and get in and out patient services as well.
The negative side of it all is that it won’t offer all permanent plan benefits. It won’t include pre-existing conditions, routine medical exams, preventive care, optical or dental care, or pregnancy and childbirth expenses.
Saturday, May 10th, 2008
College Health Care Plans: Yes or No?
Parents’ health insurance plans unfortunately doesn’t always cover their college student children. In fact, there’s 5 million who aren’t covered at all. In this case, colleges usually assist the parents by implementing their own insurance for the kids. But this doesn’t mean it’s all ok now. Businessweek.com advises that parents should read the details before signing on the dotted line:
- Maximum Benefits vs. Deductibles. Most college plans have a very low benefits ceiling—often $30,000 or less. This won’t cover large medical issues such as cancer or injuries suffered in a car accident.
- Interior Caps. Some college insurance plans are structured so it is nearly impossible to take advantage of all the benefits.
- Prescription Drugs. Most plans put a cap on the coverage for prescription drugs. These caps, however, can vary from $400 to $5,000-plus.
- Exclusions. At the bottom of most insurance plans is a list of exclusions—medical issues or procedures that aren’t covered.
- Loss Ratios. Colleges seldom disclose a key statistic for judging their plans, known as a “loss ratio” or “benefits ratio.”
Thursday, May 8th, 2008
Tips in Saving Up for Health Insurance
There are wants and there are needs. Wants are something we can live without, while needs are things that we absolutely need to have to survive. However there are some wants that we will be needing: Health Insurance. If there’s anything we don’t want to scrimp on, it’s anything related to our health. So how do we do it while on a tight budget? Here are ten ways to do it via insurance.com:
Sunday, May 4th, 2008
Employee Health Insurance is No Longer Enough
More people these days are living without any health insurance because of the downturning of the economy. However, those that do have it are saying that they have limited coverage and can no longer afford to pay their share of medical costs.
158 million people covered by employer health insurance programs are paying higher medical expenses due to various combinations of factors like higher premiums, less extensive coverages, and larger out-of-pocket deductibles and co-payments.
An employee’s average cost of annual health care has doubled since 2001. A survey is stating that only 7 percent said they are prepared financially for any future health problems or requirements.
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