Most people know that there are over 46 million uninsured individuals in the U.S., and most are aware that there are also people who are underinsured. However, the millions of people with health insurance coverage should not necessarily think that they are safe from the health care system. There are times when those with health insurance could also face some difficulties.
Most health insurance companies have what are considered in-network and out-of-network hospitals and doctors. Depending on your type of plan, you could choose any doctor and pay a small fee or have to see an in-network physician or else not receive payment for your claim. Thus, most people think they know which hospitals and clinics will take their health care plan. This way they can avoid having to pay large out-of-pocket costs.
However, what many people do not realize is that, even if your hospital takes your health insurance, there may be doctors working there that do not. This means that you could face paying out hundreds or thousands in hospital bills - even if the hospital takes your insurance.
So, what does that mean for you? Unfortunately it means asking the doctor coming in to treat you if he or she takes your health insurance. While you may not have control over the situation in a life or death emergency, in most other cases, you may have to wait for another doctor to treat you that does take your insurance. Is it a hassle? Yes. However it is the only way to prevent having to pay out more in health care costs that just your monthly health insurance premium.
August 4th, 2007
With our society’s obsession about youth, there is one area in which it pays to be older….car insurance. Many parents of new drivers find the cost of insuring their young drivers shocking. Auto insurance premiums for younger drivers are higher, mostly due to their increased risk. Young drivers are not as experienced, which makes them more susceptible to accidents.
According to the Auto Insurance Online Quote Blog one of the best ways to save on car insurance for younger drivers is to obtain and compare several quotes. They also recommend that young drivers remain on their parents’ auto insurance policies for as long as they can, because it will cost less than purchasing an individual policy. Also, showing proof that the young driver has taken a driving course can decrease premiums, as car insurance companies can see that the driver is taking proper safety steps.
Besides taking a course and remaining on the parents’ auto insurance policy, young drivers can also save money by putting an anti-theft device on their car. Plus, you can increase the deductible in order to reduce premiums. Remember, the more you can reduce the perceived risk, the lower your premiums will be.
July 15th, 2007
A key Senate committee came to a bi-partisan agreement today that will add $35 billion over the next five years to a subsidy program that provides health insurance coverage to families that have incomes to high to qualify for Medicaid, but too low to pay for private health insurance. This plan would benefit an additional 3.3 million low-income American children.
How is the government going to get the extra $35 billion? Cigarettes. The plan is to pay for the fund via an extra 61 cent tax on a pack of cigarettes.
Still, the $35 billion is a key bi-partisan compromise. Democrats wanted to add $50 billion, and the Bush Administration wanted to add $5 billion to the program. Currently there is $25 billion available in the fund. While the two parties have different approaches to how the money should be obtained and how much money should be in the fund, the compromise is a nice start at giving children much needed health insurance coverage.
July 14th, 2007
As people are living longer and health care costs are rising exponentially, the concept of long-term care insurance is becoming less of a luxury purchase and more of a necessity. Yet, how do you choose the right one? Well the The Gilbert Guide has the answer.
According to The Gilbert Guide, it is imperative that you research any company you are considering. Since long-term care insurance is fairly new, there are some companies that really stand out from the crowd, while there are others that are already facing legal and ethical challenges. Double check customer service ratings and financial ratings before you sign.
Also, you need to understand that your health has a significant impact on your premium costs. The more health complications you have, the more your premiums will be. Shopping around for long-term care insurance will help you find better rates, but so will purchasing the insurance earlier than later.
July 12th, 2007
According to the Austin Business Journal, Farmer’s Insurance Group purchased Bristol West Holdings, Inc. on Friday. The buy-out cost Farmer’s $713.5 million. Farmer’s, based in Los Angeles, is the third-largest provider of personal and homeowner’s insurance. The purchase of Bristol West will allow Farmer’s to sell auto insurance in 26 states, as Bristol West had specialized in selling non-standard auto insurance policies. The Journal reports that these non-standard policies are one of the fastest growing areas of the auto insurance market.
Non-standard policies are typically used for customers that have less-than-stellar driving records. They can also be sold for non-traditional vehicles or for people who only need short-term auto insurance policies.
The addition of Bristol West to the Farmer’s insurance team means that the company can expand its already successful lines of property and casualty insurance beyond the 41 states in which it offers its products. It also means that it can offer a wider range of auto insurance options for those living in the states in which Farmer’s operates.
July 8th, 2007
Have you gone shopping for your life insurance yet? If not (or even if you have), you should remind yourself on how you can save money on your life insurance policy. According to 24/7 Quote Us one of the best ways to save money on your life insurance is to shop around. The more you compare quotes and offers, the more likely you will be to find a really good deal on you life insurance. In fact, the site found a $300 price difference between companies offering the same life insurance plans with the same benefits. There are plenty of online brokers and agents that can make your shopping experience quick and pain-free.
Also, you should try to do what you can to make sure you are as healthy as you can be. Eat right and exercise. You should do your best to lower your cholesterol, quit smoking, and avoid bad health habits. The healthier you are, the lower your life insurance rates will be.
Finally, be sure to do your research into the life insurance providers. Check financial ratings and customer service. The least expensive life insurance premium is no good if the company will not pay out the settlement or cannot pay due to financial problems. Make sure you are working with a reputable company.
July 8th, 2007
The Portage Daily Register is reporting that auto insurance rates may be going down in Wisconsin. The state has seen an increase in competition, and it also sees few earthquakes and floods, so rates may be on their way down.
The Taxpayers Network did a study examined 2004 statistics from the National Association of Insurance Commissioners and determined that Wisconsin ranked 50th in auto insurance rates. The state even ranks 49th in homeowners insurance rates, beaten only by Utah for the least expensive premiums.
The increased competition among auto insurance providers in the state is the main reason for the lower auto insurance premiums. The state now has over 200 companies competing for clients. Plus, laws like increasing the drinking age to 21 have worked to make roads in Wisconsin safer. The safer the roads, the less auto insurance costs in the state.
July 2nd, 2007
If you live in Massachusetts, today is the day you will be required to have health insurance or be fined by the state, because health insurance is now mandatory in the state of Massachusetts. Over 400,000 people living in Massachusetts are uninsured, and there are thousands more that do not have enough health insurance to cover medical costs.
While this law is not new, Gov. Dukakis tried to implement a similar law in 1992, it could become a precedent for other states if it is enforced. California may be soon to follow in making health insurance mandatory, and several Democratic candidates are considering backing other similar measures.
How does this law affect those that could not afford private health insurance? The state is offering subsidies that can help pay for coverage. Employers will be required to pitch in, and there will be unsubsidized health plans available for those that do not qualify for subsidies.
July 1st, 2007
Michael Moore is back with a new documentary, “Sicko.” In this movie he examines the U.S. health care system, looking at the care people receive with and without health insurance. As Moore’s movie-making history dictates, he is sure to spark new controversy with this movie.
In “Sicko,” Moore first looks at the people who have health insurance, but still face difficulties due to the profit-driven insurance industry. He examines the history of government interest in health care reform while also comparing and contrasting U.S. health insurance and care with what is found in other countries like Canada, England, and France. The documentary also addresses the difficult choices hospitals have to make in balancing care with fiscal issues.
While Moore’s politics may not mesh with your own, a reviewer on LifeParticles.com does state that “Sicko” is worth seeing anyhow. The information gleaned from the movie should be looked at closer to form your own opinion, but it is still important to take that closer look at health insurance and the state of the American health industry.
June 24th, 2007
An posting on Productivity 501 the writer discusses how he and his wife keep track of all their individual numbers so that they can be easily found in an emergency. They keep a list of all their life insurance, auto insurance, and other accounts locked up in a safe deposit box at the bank.
While this advice is sound, because it will help you if you lose the information or have an emergency, you should also keep copies of all your paperwork in a fireproof box in your home. Often banks will prohibit access to a safe deposit box in the event that the person passes away. It is important that you research the bank to see if your loved ones can access the information in an emergency or in the event of your death. Life insurance can be important to help your family financially, so you want to make sure you give them immediate access to the information.
However, the blog’s advice is sound. Planning ahead is important to giving your family peace of mind. Having that information handy can help you if you lose paperwork, your computer breaks down, or if you lose your wallet.
June 23rd, 2007
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