Archive for the 'Guide' Category
Monday, August 10th, 2009
10 Ways to Make Health Insurance Work Better For You
There are a lot of steps that the government and the private sector have undertaken to help make health insurance coverage more responsive to the needs of the policyholders. Government has passed various laws and regulations to oversee implementations and the private insurance companies have also done their share to provide adequate insurance coverage.
Here are other ways to help make your health insurance coverage more reactive to your needs:
1. Use your options wisely
2. Review all available benefits
3. Put a stress on quality
4. Understand the plans Summary Plan Description (SPD)
5. Regularly evaluate your coverage against your family status
6. Life events have an effect on your benefits
7. HIPAA can help you when changing profession
8. Be aware of your retirement benefits
9. Learn how to file claims and appeals
10. Take steps to improve the quality of your benefits
Friday, April 10th, 2009
Solution to Affordable Health Insurance
Leaders of the community acknowledged the rising number of uninsured residents that cannot avail of traditional health insurance. In the effort to arrive at a solution, fellow health care providers, business leaders, and the community groups were involved in the process. Together they came up with a health care plan that would benefit the working people and the indigent. Residents can avail of this until such time that their economic condition improves and can move to private health insurance.
This innovative step helped provide effective health insurance coverage to those who were previously uninsured. This program also included coverage for families with children.
Thursday, October 9th, 2008
Health Exam
Image Source: cartoonstock.com
Purchasing an individual health insurance policy on a certain date of coverage may be contingent upon the results of health exam. You are not necessarily covered from that point forward. The policy will have an effective date for when coverage begins. Insurance companies will have different policies for when the coverage begins. Immediate effective date of coverage depending on the insurance company and the employer who deducts the portion of your coverage from the payroll. To know when the effective date is very important so that you can plan your medical needs accordingly. Routine medical appointments might be postponed a bit until the coverage begins or else you will be paying more for these uncovered appointments.
Monday, September 29th, 2008
What is COBRA?
The Consolidated Omnibus Budget Reconciliation Act (COBRA) is supplemental insurance that people can acquire when they are between jobs or are otherwise lacking in health care coverage. It gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time. This may happen under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. Qualified individuals may be required to pay the entire premium for coverage up to 102% of the cost to the plan. COBRA begins on the date when a qualifying event triggers the loss of the health coverage. The law allows from 18 to 36 months, depending on the qualifying event. Employers may choose to provide coverage for longer periods if they wish. COBRA insurance also covers recent retirees, people with disabilities, the spouse and/or children of covered employees.
Tuesday, August 19th, 2008
Individual Health Insurance
Image Source:www.individual-health-insurance-quote.com
If you are freelance or your company does not tender health
insurance, you may not have admission to group insurance. You may,
however, be able to pay for individual coverage directly from an
insurance company. When you buy your own health insurance, you
will be accountable for paying the entire premium rather than
sharing the cost with an employer. You should shop around to find
a plan that fits your needs at a price that you are eager to pay.
Most self-employed personnel are able to take away their health
insurance premiums from their Federal taxable income, providing
them with an important tax saving. Most States also offer similar
tax preferences. If you are self-employed and buy individual health
insurance, you should confer with a tax advisor to find out if you are
eligible for this deduction.
Insurance plans differ greatly from one company to another and,
within an insurance company, from one plan or product to another.
Some plans have multiple products from which you can
choose; read vigilantly through the “fine print” to be sure you
appreciate the various choices.
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.
Source
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.