Life insurance or life assurance
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. In the United States, the predominant form simply specifies a lump sum to be paid on the insured's demise.
As with most insurance policies, life insurance is a contract between the insurer and the policy owner whereby a benefit is paid to the designated beneficial if an insured event occurs which is covered by the policy.
The value for the policyholder is derived, not from an actual claim event, rather it is the value derived from the 'peace of mind' experienced by the policyholder, due to the negating of adverse financial consequences caused by the death of the Life Assured.
To be a life policy the insured event must be based upon the lives of the people named in the policy.
Insured events that may be covered include:
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide, fraud, war, riot and civil commotion.
Life-based contracts tend to fall into two major categories:
Protections policies - designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US anyway) are whole life, universal life and variable life policies.
Saturday, August 8, 2009
Thursday, July 30, 2009
Short Term Health Insurance - Flexible & Inexpensive Coverage
Short term health insurance provides inexpensive and flexible coverage against all injuries and illnesses. The medical coverage under this insurance plan ranges from 30 days to 12 months. They are specifically designed for individuals as well as families who do not need any coverage for pre-existing conditions. Mostly, these plans are open to those who are in-between jobs or waiting for another insurance coverage to become effective again. They make an ideal choice for fresh graduates, people waiting on healthcare, people in non-traditional jobs, people in career transition, temporary employees looking for medical benefits, self-employed, or even those seeking affordable option to have COBRA coverage. Foreign students can also avail this kind of insurance coverage.
These temporary health plans include hospitalization, emergency care, preventive health programs, and prescription drugs. Depending upon the plan, the insurer can avail the medical or healthcare profits and benefits. These plans often cost just one time. They are flexible and allow the holders to pay on monthly basis. They may even have a single payment choice. They are inexpensive as compared to regular individual health insurance policy. The main advantage is you can easily drop this temporary insurance plan whenever you wish.
Generally, these plans have a limited lifetime. Normally, they cannot be renewed. After the tenure of a plan is finished, the insurer has to find health insurance coverage with a plan designed for long term. If you need a long term plan, you can easily find it through the short term insurance providers.
Applying for Temporary Health Insurance Policy
The application process to get a short term health policy is very easy than any regular long term insurance policy. Short term health coverage starts within 24 hours of your application submission. If you want to start immediately, you just need to pay your first premium by furnishing a valid credit card number. Most of these insurance plans offer a 30 days minimum coverage. At the end of your health insurance policy, the health insurance companies will let you re-apply for another temporary plan, if required by you.
What you need to remember is this short term policy is not intended for people who want to have pre-existing medical coverage.
The Beneficiaries
This kind of plan is actually meant for healthy people. Since it is inexpensive and can offer high coverage, it is suitable for the following sections:
* Part time and temporary employees who do not need coverage against a pre-existing medical condition * Fresh college graduates seeking temporary health insurance policies.
* Youngsters over 18 years of age.
Thus, if you are looking for a temporary plan to have medical coverage for a short period of time to have protection against unexpected health related expenses, you can opt for this plan that offers many benefits like any other standard health insurance plans. Have security and stability with your medical coverage with this plan now. What you need is to conduct a quality research on the internet to find out which insurance policy can work best for you to get the best coverage for unexpected health alarms.
These temporary health plans include hospitalization, emergency care, preventive health programs, and prescription drugs. Depending upon the plan, the insurer can avail the medical or healthcare profits and benefits. These plans often cost just one time. They are flexible and allow the holders to pay on monthly basis. They may even have a single payment choice. They are inexpensive as compared to regular individual health insurance policy. The main advantage is you can easily drop this temporary insurance plan whenever you wish.
Generally, these plans have a limited lifetime. Normally, they cannot be renewed. After the tenure of a plan is finished, the insurer has to find health insurance coverage with a plan designed for long term. If you need a long term plan, you can easily find it through the short term insurance providers.
Applying for Temporary Health Insurance Policy
The application process to get a short term health policy is very easy than any regular long term insurance policy. Short term health coverage starts within 24 hours of your application submission. If you want to start immediately, you just need to pay your first premium by furnishing a valid credit card number. Most of these insurance plans offer a 30 days minimum coverage. At the end of your health insurance policy, the health insurance companies will let you re-apply for another temporary plan, if required by you.
What you need to remember is this short term policy is not intended for people who want to have pre-existing medical coverage.
The Beneficiaries
This kind of plan is actually meant for healthy people. Since it is inexpensive and can offer high coverage, it is suitable for the following sections:
* Part time and temporary employees who do not need coverage against a pre-existing medical condition * Fresh college graduates seeking temporary health insurance policies.
* Youngsters over 18 years of age.
Thus, if you are looking for a temporary plan to have medical coverage for a short period of time to have protection against unexpected health related expenses, you can opt for this plan that offers many benefits like any other standard health insurance plans. Have security and stability with your medical coverage with this plan now. What you need is to conduct a quality research on the internet to find out which insurance policy can work best for you to get the best coverage for unexpected health alarms.
Need Private Health Care Insurance?
Whatever state you are living in you will know that there are a lot of companies that are offering health Insurance. If you have a limited amount of time as most do, it is difficult to know which ones to approach for quotes.
That is why the easiest way to get the best deals on Private Health Care Insurance is to use what is know as a price comparison website. These sites allow you to relax, because they do all the hard work in collecting all the different health care Insurance companies into one place.
In fact you can access quotes from all of them with just a few clicks of the mouse, which means that you won't miss out on any of the best deals.
It doesn't matter what type of policy you are looking for from Small Business to Group, to Individual and family as well as dental, Short term, Student and of course Medicare Supplemental.
It's important to make sure that the site is not connected in anyway to any Private Health Care Insurance companies rather than listing them, (meaning that the site is not selling policies itself, just acting an a provider of information).
If it is it means that it will not be able to list all of the different providers in your area and that users will be missing out on some of the best deals.
Once you have found a policy, do make sure to check all of the terms and conditions that come with i,t to ensure you understand everything that's involved.
That is why the easiest way to get the best deals on Private Health Care Insurance is to use what is know as a price comparison website. These sites allow you to relax, because they do all the hard work in collecting all the different health care Insurance companies into one place.
In fact you can access quotes from all of them with just a few clicks of the mouse, which means that you won't miss out on any of the best deals.
It doesn't matter what type of policy you are looking for from Small Business to Group, to Individual and family as well as dental, Short term, Student and of course Medicare Supplemental.
It's important to make sure that the site is not connected in anyway to any Private Health Care Insurance companies rather than listing them, (meaning that the site is not selling policies itself, just acting an a provider of information).
If it is it means that it will not be able to list all of the different providers in your area and that users will be missing out on some of the best deals.
Once you have found a policy, do make sure to check all of the terms and conditions that come with i,t to ensure you understand everything that's involved.
Health Insurance For the Unemployed
Besides just losing your job you will also lose a lot of financial security. One's job can be a big part of their self esteem and when you become unemployed your health can suffer. That is why getting health insurance for the unemployed is so important. If your previous employer did not offer you with health care you need to get a completely new policy.
When your employer has offered you with health care insurance you can use such services as the COBRA and Kaiser Family Foundation to transfer your health insurance from your employer to yourself. If you did not have these services, it is advisable to get a completely new policy.
Unemployment will be a tax on ones self esteem and through that it will have an effect on your health. When you have the least extra money to spend, your health will usually start to show symptoms of different diseases. This is because extreme stress will cause you to get sick, and when you don't have money to pay for the medical costs, you will stress even more. That is why it is important to get a health insurance for the unemployed so that you can afford to go to the doctor when needed.
Without your health you have nothing. And if you are sick you are unable to search for a job. That will lengthen then time spend unemployed and make it even more difficult to get back on the saddle. You should do everything you can to prevent a financial crisis and getting an insurance to cover your health care is one of the best things you can do.
When your employer has offered you with health care insurance you can use such services as the COBRA and Kaiser Family Foundation to transfer your health insurance from your employer to yourself. If you did not have these services, it is advisable to get a completely new policy.
Unemployment will be a tax on ones self esteem and through that it will have an effect on your health. When you have the least extra money to spend, your health will usually start to show symptoms of different diseases. This is because extreme stress will cause you to get sick, and when you don't have money to pay for the medical costs, you will stress even more. That is why it is important to get a health insurance for the unemployed so that you can afford to go to the doctor when needed.
Without your health you have nothing. And if you are sick you are unable to search for a job. That will lengthen then time spend unemployed and make it even more difficult to get back on the saddle. You should do everything you can to prevent a financial crisis and getting an insurance to cover your health care is one of the best things you can do.
Affordable Family Medical Plans - 3 Tips to Follow When Looking For a Quality Plan
Coverage Can Be Much Different from Plan to Plan
Sorting through family medical plans and the different options can be a challenge. There are many companies that have substandard plans, but many companies that have quality plans at affordable prices. Here are three tips to follow when looking for the best plan.
Check the Company's Financial Rating and Reliability
It's easy to find out whether you're dealing with a reliable company or not.
Sorting through family medical plans and the different options can be a challenge. There are many companies that have substandard plans, but many companies that have quality plans at affordable prices. Here are three tips to follow when looking for the best plan.
Check the Company's Financial Rating and Reliability
It's easy to find out whether you're dealing with a reliable company or not.
- 1) First of all, if you know someone who's insured by the company, ask them about their claims and customer service experiences.
- Second check the company's financial rating at AM best or standard and Poor's. It will give you peace of mind to know the company ensuring you or your family has the financial means to back up its claims.
- Third, check the better business bureau for complaints against the company, percentage of resolutions, and complain details to get a feel for how reliable the company is.
Check for Low Benefit Limits
- Many companies only pay for one surgery or operation if you need two or more surgeries resulting from the same accident or medical event. Be sure that you know how your company covers accidents and surgeries.
- Find out what your annual maximum benefit is for the year. Also find out what your lifetime maximum benefit is for you or your family.
- Ask your agent or the insurance company wants other limits apply to your policies benefits.
Find out How Your Family's Deductible Works
- 1) Depending on what insurance company and plan you choose, the way your deductible works can vary. It's important to know whether your deductible applies to your family as a whole war each individual family member.
- If your deductible applies to each family member, find out how many people must meet the deductible before the family deductible has been met. This way you'll know when your medical benefits will kick in. Understanding your family's deductible and how it works can save you heartache in the long run.
Follow these three tips to ensure your family gets the best medical plan, at the most affordable price.
Affordable Family Medical Insurance - Choosing the Right Deductible
For a family, choosing the right deductible can be an impactful decision. Some plans work differently than others, making it important to do your research before choosing a company and plan.
Family Deductibles Many companies offer family, or bucket, deductibles. This means that your family (as a whole) meets this deductible before your coverage starts. This is the simplest and most straightforward way of understanding the risk associated with the deductible you choose. Your family deductible is your maximum risk, not including any co-insurance you may be responsible for, after meeting the deductible. Single Deductibles Other companies offer single deductibles with a family deductible of two, three, or four times the single deductible. This can be deceiving when comparing plans because you may be looking at a true family deductible with one company, and a single deductible with another. It's easy to look at two companies that offer of $3,000 deductible and believe they work the same way. However, you could really be looking at a plan with a $3,000 family deductible and a plan with the $9,000 family deductible. Out-of-Pocket Maximum Similarly, it's important to review the out-of-pocket maximum in this same way. The out-of-pocket maximum is the most you will spend in one year after the deductible. To make things more confusing sometimes the deductible is included in the out-of-pocket maximum, and sometimes it is not. It's Important to Know Be sure when you are choosing the deductible for your family that you are aware of how your deductible will work.
A local independent health insurance agent is an excellent free resource that your family can use to find you the right plan.
To connect with a local agent and to get started finding affordable family medical insurance,
Also, to learn more about affordable family plans, While you're there, be sure to claim your free copy of my eBook titled "Seven Money-Saving Health Insurance Tips.
If you found this article helpful, please rate it using the five star rating system below. Thank you and good luck in your search for an affordable health plan!
Family Deductibles Many companies offer family, or bucket, deductibles. This means that your family (as a whole) meets this deductible before your coverage starts. This is the simplest and most straightforward way of understanding the risk associated with the deductible you choose. Your family deductible is your maximum risk, not including any co-insurance you may be responsible for, after meeting the deductible. Single Deductibles Other companies offer single deductibles with a family deductible of two, three, or four times the single deductible. This can be deceiving when comparing plans because you may be looking at a true family deductible with one company, and a single deductible with another. It's easy to look at two companies that offer of $3,000 deductible and believe they work the same way. However, you could really be looking at a plan with a $3,000 family deductible and a plan with the $9,000 family deductible. Out-of-Pocket Maximum Similarly, it's important to review the out-of-pocket maximum in this same way. The out-of-pocket maximum is the most you will spend in one year after the deductible. To make things more confusing sometimes the deductible is included in the out-of-pocket maximum, and sometimes it is not. It's Important to Know Be sure when you are choosing the deductible for your family that you are aware of how your deductible will work.
A local independent health insurance agent is an excellent free resource that your family can use to find you the right plan.
To connect with a local agent and to get started finding affordable family medical insurance,
Also, to learn more about affordable family plans, While you're there, be sure to claim your free copy of my eBook titled "Seven Money-Saving Health Insurance Tips.
If you found this article helpful, please rate it using the five star rating system below. Thank you and good luck in your search for an affordable health plan!
Price Wars Are Cause Health Insurance Companies to Reduce Their Rates Drastically
In the United States, health-insurance rates see daily change. It's extremely likely that your rate has changed if you've held onto a health-insurance rate for the past 120 days. The same coverage could be available at a cheaper rate. Customers are not contacted about new and cheaper coverage - a troubling fact when insurance companies change their rates up to three times a month.
The consumer has a significant advantage over insurance-companies right now - the current recession is fueling an intense pricing war between insurance companies. If you're willing to find these cheaper rates, be aware that it can take at minimum half of a day. Finding a single quote for you is extremely difficult and drawn out, purposely designed that way by major insurance-companies. You must schedule at least half of a day to find a cheaper rate.
Without having to speak to a single sales agent on the phone, several private companies have provided Internet tools that will easily compare cheap rates from insurance companies - all for free.
To get all rates from major health-insurance-companies, once a huge feat for an individual, takes only 15 to 20 seconds for the search engine. There is no reason that any consumer with health insurance shouldn't compare their present and competing insurance companies to find the cheapest rate.
Why pay more for the same coverage? This is the perfect time for the average consumer to use these tools and lower the cost of their health insurance.
The consumer has a significant advantage over insurance-companies right now - the current recession is fueling an intense pricing war between insurance companies. If you're willing to find these cheaper rates, be aware that it can take at minimum half of a day. Finding a single quote for you is extremely difficult and drawn out, purposely designed that way by major insurance-companies. You must schedule at least half of a day to find a cheaper rate.
Without having to speak to a single sales agent on the phone, several private companies have provided Internet tools that will easily compare cheap rates from insurance companies - all for free.
To get all rates from major health-insurance-companies, once a huge feat for an individual, takes only 15 to 20 seconds for the search engine. There is no reason that any consumer with health insurance shouldn't compare their present and competing insurance companies to find the cheapest rate.
Why pay more for the same coverage? This is the perfect time for the average consumer to use these tools and lower the cost of their health insurance.
Getting Your Hands on a Good Health Insurance Plan
Are you looking for health insurance? Do you know what your coverage is? What is your deductible, and what is your premium? If you think that you just can't afford the prices of your current health insurance, or you think that you just need to finally get insurance, you should start looking into plans that are available in your area.
Blue Cross, which is a big nationwide health care provider, offers many plans. Additionally, you can find health insurance plans from Kaiser or any other number of HMOs and health insurers.
Have you checked your work's health plan? Most employees are offered a health plan of some sort in exchange for working full time for an employer. This is an extremely safe and cheap way to get good, quality insurance. If your employer offers health insurance, most of the costs are covered by him. You'll only have a few out of pocket expenses that you might need to contribute to your health plan.
However, if you are self employed or unemployed, you might need to go out and find your own health plan. If this is so, you should look into potential health services that are offered. Check out the Blue Cross Tonik Health Care Plans, which are great plans that can be customized to fit your needs. Additionally, make sure you look into family benefits, if you are trying to insure your whole family.
Are you looking for health insurance? Do you know what your coverage is? What is your deductible, and what is your premium? If you think that you just can't afford the prices of your current health insurance, or you think that you just need to finally get insurance, you should start looking into plans that are available in your area.
Blue Cross, which is a big nationwide health care provider, offers many plans. Additionally, you can find health insurance plans from Kaiser or any other number of HMOs and health insurers.
Have you checked your work's health plan? Most employees are offered a health plan of some sort in exchange for working full time for an employer. This is an extremely safe and cheap way to get good, quality insurance. If your employer offers health insurance, most of the costs are covered by him. You'll only have a few out of pocket expenses that you might need to contribute to your health plan.
However, if you are self employed or unemployed, you might need to go out and find your own health plan. If this is so, you should look into potential health services that are offered. Check out the Blue Cross Tonik Health Care Plans, which are great plans that can be customized to fit your needs. Additionally, make sure you look into family benefits, if you are trying to insure your whole family.
Don't get stuck without insurance. Stay safe, and stay insured. Look at your options today!
Blue Cross, which is a big nationwide health care provider, offers many plans. Additionally, you can find health insurance plans from Kaiser or any other number of HMOs and health insurers.
Have you checked your work's health plan? Most employees are offered a health plan of some sort in exchange for working full time for an employer. This is an extremely safe and cheap way to get good, quality insurance. If your employer offers health insurance, most of the costs are covered by him. You'll only have a few out of pocket expenses that you might need to contribute to your health plan.
However, if you are self employed or unemployed, you might need to go out and find your own health plan. If this is so, you should look into potential health services that are offered. Check out the Blue Cross Tonik Health Care Plans, which are great plans that can be customized to fit your needs. Additionally, make sure you look into family benefits, if you are trying to insure your whole family.
Are you looking for health insurance? Do you know what your coverage is? What is your deductible, and what is your premium? If you think that you just can't afford the prices of your current health insurance, or you think that you just need to finally get insurance, you should start looking into plans that are available in your area.
Blue Cross, which is a big nationwide health care provider, offers many plans. Additionally, you can find health insurance plans from Kaiser or any other number of HMOs and health insurers.
Have you checked your work's health plan? Most employees are offered a health plan of some sort in exchange for working full time for an employer. This is an extremely safe and cheap way to get good, quality insurance. If your employer offers health insurance, most of the costs are covered by him. You'll only have a few out of pocket expenses that you might need to contribute to your health plan.
However, if you are self employed or unemployed, you might need to go out and find your own health plan. If this is so, you should look into potential health services that are offered. Check out the Blue Cross Tonik Health Care Plans, which are great plans that can be customized to fit your needs. Additionally, make sure you look into family benefits, if you are trying to insure your whole family.
Don't get stuck without insurance. Stay safe, and stay insured. Look at your options today!
Wednesday, July 29, 2009
Health Savings Accounts - How They Work
The idea of health savings accounts came about just before 2003, when they were adopted into law. They provide a great way to lower medical costs, insurance premiums, and save you money on your taxes. Here's how they work:
There are two parts to the health savings account idea. The first is the health plan.
Part 1. The Health Plan
You must have a "qualified" high deductible health plan (QHDHP) to be able to use an HSA. Qualified, meaning by the Internal Revenue Service. The idea is to take on most of your expenses by paying them out of your own pocket, until you reach your deductible. Deductible options usually range from $1,500 to $5,000 for an individual and $3,000 to $10,000 per family.
The plans are allowed to cover preventive care and accidents before the deductible, to certain amount. Otherwise most everything is covered after you completely meet your deductible. Many high deductible health plans have 100% coverage after you meet your deductible, but some don't. The best thing about qualified high deductible health plans is that the premiums are substantially lower than normal "full benefit" plans.
Part 2. The Health Savings Account
Once you have the health plan in place, you can open up a health savings account. Most banks and credit unions offer them to their customers. It's also usually an option to us your insurance company's preferred HSA providers. I personally think it's nice to be able to walk into my normal branch around the corner to make deposits, withdrawals, and order cards etc...
Deposits
You can deposit a certain amount in to your HSA each year. The limits change each year, so visit the IRS website to find out what the current limits are. Once you have your account open and your health plan in place, you can either leave the balance at $0 and deposit money when you need it, or you can deposit money and start building a balance so it's there and ready if you have a medical expenses. When you deposit money into your HSA, it goes in pre-tax and when you use it to pay for medical expenses, it comes out tax free. It's the only tax advantaged account with those features. (Normally with IRA's etc you get taxed on the way in, or on the way out. With HSA's the money is tax free going in, and coming out).
If You Have a Balance at Age 65
You can pay income taxes on withdrawals to supplement your retirement income. You can also use it tax free to pay for long term care insurance premiums, Medicare premiums, and you can still use it to continue to pay for your regular medical expenses, such as office visits, prescriptions, and surgeries etc...
The combination of qualified high deductible health plans and health savings accounts provide an excellent vehicle to help you save money on your health insurance and not pay taxes on your medical expenses.
To learn more about HSA's visit my While you're there, make sure you claim your free copy of my eBook titled "Seven Money-Saving Health Insurance Tips."
Or get started now and find out how much a Health Savings Account and High Deductible Health Plan could save you by If you found this article helpful, I would appreciate your help in rating it using the five star rating system below. Thank you and good luck in your search for an affordable health plan!
There are two parts to the health savings account idea. The first is the health plan.
Part 1. The Health Plan
You must have a "qualified" high deductible health plan (QHDHP) to be able to use an HSA. Qualified, meaning by the Internal Revenue Service. The idea is to take on most of your expenses by paying them out of your own pocket, until you reach your deductible. Deductible options usually range from $1,500 to $5,000 for an individual and $3,000 to $10,000 per family.
The plans are allowed to cover preventive care and accidents before the deductible, to certain amount. Otherwise most everything is covered after you completely meet your deductible. Many high deductible health plans have 100% coverage after you meet your deductible, but some don't. The best thing about qualified high deductible health plans is that the premiums are substantially lower than normal "full benefit" plans.
Part 2. The Health Savings Account
Once you have the health plan in place, you can open up a health savings account. Most banks and credit unions offer them to their customers. It's also usually an option to us your insurance company's preferred HSA providers. I personally think it's nice to be able to walk into my normal branch around the corner to make deposits, withdrawals, and order cards etc...
Deposits
You can deposit a certain amount in to your HSA each year. The limits change each year, so visit the IRS website to find out what the current limits are. Once you have your account open and your health plan in place, you can either leave the balance at $0 and deposit money when you need it, or you can deposit money and start building a balance so it's there and ready if you have a medical expenses. When you deposit money into your HSA, it goes in pre-tax and when you use it to pay for medical expenses, it comes out tax free. It's the only tax advantaged account with those features. (Normally with IRA's etc you get taxed on the way in, or on the way out. With HSA's the money is tax free going in, and coming out).
If You Have a Balance at Age 65
You can pay income taxes on withdrawals to supplement your retirement income. You can also use it tax free to pay for long term care insurance premiums, Medicare premiums, and you can still use it to continue to pay for your regular medical expenses, such as office visits, prescriptions, and surgeries etc...
The combination of qualified high deductible health plans and health savings accounts provide an excellent vehicle to help you save money on your health insurance and not pay taxes on your medical expenses.
To learn more about HSA's visit my While you're there, make sure you claim your free copy of my eBook titled "Seven Money-Saving Health Insurance Tips."
Or get started now and find out how much a Health Savings Account and High Deductible Health Plan could save you by If you found this article helpful, I would appreciate your help in rating it using the five star rating system below. Thank you and good luck in your search for an affordable health plan!
Getting Your Hands on a Good Health Insurance Plan
Are you looking for health insurance? Do you know what your coverage is? What is your deductible, and what is your premium? If you think that you just can't afford the prices of your current health insurance, or you think that you just need to finally get insurance, you should start looking into plans that are available in your area.
Blue Cross, which is a big nationwide health care provider, offers many plans. Additionally, you can find health insurance plans from Kaiser or any other number of HMOs and health insurers.
Have you checked your work's health plan? Most employees are offered a health plan of some sort in exchange for working full time for an employer. This is an extremely safe and cheap way to get good, quality insurance. If your employer offers health insurance, most of the costs are covered by him. You'll only have a few out of pocket expenses that you might need to contribute to your health plan.
However, if you are self employed or unemployed, you might need to go out and find your own health plan. If this is so, you should look into potential health services that are offered. Check out the Blue Cross Tonik Health Care Plans, which are great plans that can be customized to fit your needs. Additionally, make sure you look into family benefits, if you are trying to insure your whole family.
Don't get stuck without insurance. Stay safe, and stay insured. Look at your options today!
Blue Cross, which is a big nationwide health care provider, offers many plans. Additionally, you can find health insurance plans from Kaiser or any other number of HMOs and health insurers.
Have you checked your work's health plan? Most employees are offered a health plan of some sort in exchange for working full time for an employer. This is an extremely safe and cheap way to get good, quality insurance. If your employer offers health insurance, most of the costs are covered by him. You'll only have a few out of pocket expenses that you might need to contribute to your health plan.
However, if you are self employed or unemployed, you might need to go out and find your own health plan. If this is so, you should look into potential health services that are offered. Check out the Blue Cross Tonik Health Care Plans, which are great plans that can be customized to fit your needs. Additionally, make sure you look into family benefits, if you are trying to insure your whole family.
Don't get stuck without insurance. Stay safe, and stay insured. Look at your options today!
Health Insurance Does Not Always Protect Cancer Patients From High Out-Of-Pocket Costs
A new report from the American Cancer Society entitled "Spending to Survive:
Cancer Patients Confront Holes in the Health Insurance System" describes how group health insurance often fails people diagnosed with cancer.
The report shows how common it is for cancer victims to lose their jobs after becoming too sick to work. When they lose their job they may lose their employer-sponsored health insurance. They may be offered COBRA which may be too expensive for someone without a job. Making matters worse, once they lose their employee benefits, they find themselves un-insurable in the individual market
The study showed that cancer patients are more likely to die without health coverage.
The report highlighted 20 patients who had been diagnosed with cancer and who had group health insurance. Despite having private heath insurance through an employer group, cancer patients are running up large debts, filing for personal bankruptcy and even delaying or skipping treatment because they cannot afford the care.
What causes these holes in group coverage? There were several common themes. One patient found that his group coverage had pre-existing limitations which forced him to put off treatment for 12 months. Another who elected to be treated by an out-of-network specialist for ovarian cancer led to a huge debt.
Many patients learned that they had to keep working, even during their cancer treatments, or risk losing their insurance coverage. One case talks about a 10 year old with leukemia, whose treatments have almost exhausted the family's million dollar lifetime maximum.
When assessing the coverage of your group plan, be sure and look at the following:
1) Does the plan have high cost sharing, either because of deductibles or co-insurance or have low caps on services. 2) 2)Either may leave cancer patients vulnerable
3) Before you become too sick to work, find out what COBRA payments will cost
4) Find out if your state has a high risk pool. The coverage may be expensive but you can be covered
5) Consider investing in a critical illness policy. These policies pay a cash benefits if the insured is diagnosed with certain specific life threatening illnesses including cancer.
6)Sheila Guilloton is the owner of Prestige Planners, a health specialty agency placing health and dental insurance for business and individuals. Licensed with all the major carriers, she counsels and advises clients on how to select the most appropriate coverage.
Cancer Patients Confront Holes in the Health Insurance System" describes how group health insurance often fails people diagnosed with cancer.
The report shows how common it is for cancer victims to lose their jobs after becoming too sick to work. When they lose their job they may lose their employer-sponsored health insurance. They may be offered COBRA which may be too expensive for someone without a job. Making matters worse, once they lose their employee benefits, they find themselves un-insurable in the individual market
The study showed that cancer patients are more likely to die without health coverage.
The report highlighted 20 patients who had been diagnosed with cancer and who had group health insurance. Despite having private heath insurance through an employer group, cancer patients are running up large debts, filing for personal bankruptcy and even delaying or skipping treatment because they cannot afford the care.
What causes these holes in group coverage? There were several common themes. One patient found that his group coverage had pre-existing limitations which forced him to put off treatment for 12 months. Another who elected to be treated by an out-of-network specialist for ovarian cancer led to a huge debt.
Many patients learned that they had to keep working, even during their cancer treatments, or risk losing their insurance coverage. One case talks about a 10 year old with leukemia, whose treatments have almost exhausted the family's million dollar lifetime maximum.
When assessing the coverage of your group plan, be sure and look at the following:
1) Does the plan have high cost sharing, either because of deductibles or co-insurance or have low caps on services. 2) 2)Either may leave cancer patients vulnerable
3) Before you become too sick to work, find out what COBRA payments will cost
4) Find out if your state has a high risk pool. The coverage may be expensive but you can be covered
5) Consider investing in a critical illness policy. These policies pay a cash benefits if the insured is diagnosed with certain specific life threatening illnesses including cancer.
6)Sheila Guilloton is the owner of Prestige Planners, a health specialty agency placing health and dental insurance for business and individuals. Licensed with all the major carriers, she counsels and advises clients on how to select the most appropriate coverage.
Affordable Health Insurance For California Individuals and Families
A Wide Array
California residents have a variety of options when looking for health insurance coverage. There are a good number of companies that offer a variety of plans for individuals and families.
California Health Insurance Companies
Kaiser, Anthem Blue Cross Blue Shield, Assurant Health, and HumanaOne are just a few companies that offer health coverage to California residents. Because insurance company's rating structures and approval guidelines vary so much, its important to have some help when deciding what company to choose.
California Health Coverage Options
California residents have the option of choosing from a variety of California health plans. As a resident, you have options to plans that cover office visits, maternity, prescriptions, and minor accidents before you are required to pay the deductible. On the other hand, insurance companies in California that offer major medical, high deductible, and catastrophic health plans. These plans cover your medical expenses after you have met a large deductible. By their nature they are priced much lower. An agent can also assist you in finding the plan that fits your needs and budget best.
The Best Free Resource
One free and valuable resource you can use is an independent health insurance agent that represents plans in your local area. Normally agents don't charge for helping you. They get paid a commission by the insurance company for helping you apply. The best part is, that it's the same price whether you use an agent or not, so why not use their experience, expertise, and knowledge to help you find the right plan. Using an agent is a valuable and unmatched free resource if you want to make sure you, or your family, gets the right plan at an affordable price.
Get started right now and to have a local agent contact you and get the process started.
Also, to learn more about these plans, visit my While you're there, be sure to claim your free copy of my eBook titled
"Seven Money-Saving Health Insurance Tips.
you found this article helpful, I would appreciate your help in rating it using the five star rating system below, so other California residents have the opportunity to read it. Thank you and good luck in your search for affordable health insurance!
California residents have a variety of options when looking for health insurance coverage. There are a good number of companies that offer a variety of plans for individuals and families.
California Health Insurance Companies
Kaiser, Anthem Blue Cross Blue Shield, Assurant Health, and HumanaOne are just a few companies that offer health coverage to California residents. Because insurance company's rating structures and approval guidelines vary so much, its important to have some help when deciding what company to choose.
California Health Coverage Options
California residents have the option of choosing from a variety of California health plans. As a resident, you have options to plans that cover office visits, maternity, prescriptions, and minor accidents before you are required to pay the deductible. On the other hand, insurance companies in California that offer major medical, high deductible, and catastrophic health plans. These plans cover your medical expenses after you have met a large deductible. By their nature they are priced much lower. An agent can also assist you in finding the plan that fits your needs and budget best.
The Best Free Resource
One free and valuable resource you can use is an independent health insurance agent that represents plans in your local area. Normally agents don't charge for helping you. They get paid a commission by the insurance company for helping you apply. The best part is, that it's the same price whether you use an agent or not, so why not use their experience, expertise, and knowledge to help you find the right plan. Using an agent is a valuable and unmatched free resource if you want to make sure you, or your family, gets the right plan at an affordable price.
Get started right now and to have a local agent contact you and get the process started.
Also, to learn more about these plans, visit my While you're there, be sure to claim your free copy of my eBook titled
"Seven Money-Saving Health Insurance Tips.
you found this article helpful, I would appreciate your help in rating it using the five star rating system below, so other California residents have the opportunity to read it. Thank you and good luck in your search for affordable health insurance!
Don't Look For Low Cost Medical Insurance Without Reading This!
A question that I am often asked is how to get the best deals when buying health insurance. My answer has changed over the last couple of years and here is why.
A while back there wasn't really a short cut, you had to search through all the different players in the marketplace requesting quotes and then choosing the best one. It worked, but only to a point, because you were always limited by the time that you had available and the patience for the job.
Now, however, there are special sites that collate all the different insurance providers in one place. This makes the job easy and perhaps more importantly, quick.
You can choose between all the different popular policy types from group and family policies to student, dental and short time as well as individual health policies.
All you have to do is find one and make sure that it is an independent site, so it is not tied in any way to a particular company or group of companies. This means that you will not miss out on any deals.
Once you have found this just compare all the different quotes that you get and then find the Low Cost Medical
Insurance that is best suited to your needs.
One thing I will mention is that health insurance companies are not obliged to offer policies to everyone so you must declare any pre-existing conditions at sign up and make sure that you carefully read through all the terms and conditions that come with the policy.
One thing I will mention is that health insurance companies are not obliged to offer policies to everyone so you must declare any pre-existing conditions at sign up and make sure that you carefully read through all the terms and conditions that come with the policy.
Health Insurance Tips - Monsoon Health Care
Monsoon has arrived and it is a right time to watch your food intake during this season. This season brings the excitement that makes you feel tempted to taste spicy, road-side snacks but it also brings the germs and bacteria that may cause you health problems.
Cough cold, flu and water-born diseases such as cholera, gastroenteritis are frequently observed health problems during rainy days. Handle them effectively with your regular kitchen ingredients. A little care can keep the monsoon troubles at bay. A comprehensive health insurance will also aid you, in case you have chronic health problems. Read more to know the basics of Monsoon healthcare.
1) Maintain personal hygiene
* Wash your hands properly with a medicated soap before and after consuming food. Regular hand wash with a mild sanitizer also serves the purpose. Follow it with almond oil or baby cream. Applying Eucalyptus or thyme oil will also sanitize the skin.
* Wear clean and dry clothes. Go for cotton and synthetic fabrics during monsoon. Keep a pair of garments with you while traveling.
2) Drink boiled water and avoid consuming uncovered Food
This is a common yet extremely effective advice. Boiled water is pure and consumption of the same also helps you to digest food in a right way. Avoid eating the street-side foods like deeply fried fritters, fruits slices and other such snacks. Have light and freshly cooked meals.
3) Consume hot foods
Have lots of hot, home-cooked foods like soups, curries, freshly cooked vegetables. Keep sipping lukewarm water between meals. Make use of the following ingredients while cooking to get rid of some common Monsoon ailments:
* Ginger is an excellent digestive herb. Start your day with a ginger tea or basil tea, which has medicinal value and works as a preventive measure for gastric problems, cold and cough. Also, few sips of honey and carrot juice help curing throat infection, which is a common problem in this wet weather.
* Garlic consists of anti-viral and anti-fungal activities that cure the cold, stomach infections and increases your overall stamina. Consumption of hot garlic soup or garlic juice mixed with onion juice in hot water works as a magic for cold and flu.
* A hot curry made by tamarind, butter and pepper also helps to clear the nasal passage and gives relief from cold. For those, who prefer non-veg, hot Chicken Soup is considered as one of the most beneficial of all of the hot liquids that cure cold and cough. Also, hot foods like spicy curries, mustard sauce help to clear the nasal blockage.
* Seasonal fruits and leafy vegetables such as apples, plums, lichies, apricots, spinach, carrots, cauliflowers, radish, fenugreek, lettuce should be included in daily meals. Eating an apple everyday provides basic nutrition and protection to your body. You should practice eating it more than reading it as an old proverb.
* A natural antibiotic like Goldenseal is beneficial when there is greater nasal infection during the rainy season. Peppermint candy and herbal teas are also very good at helping to fight with the monsoon ailments.
The regular spices, herbs and other kitchen paraphernalia can be so useful to handle the common monsoon ailments. These simple home remedies give you a natural relief and save you and your family from spending money on unnecessary bills and medication.
4) Warm Up
Don't skip your exercising schedule. Try to work-out more indoors. Many of us tend to get gloomy during monsoon. Exercise is the best way to manage your emotional health care. Learn new things like Yoga, dance or Martial Arts. Start your day with a group exercise or hit a local gym or a health club with a buddy.
Insurance
In case of extreme emergencies, a health insurance policy will cover you and your family against sudden medical contingency or bodily injury. Many insurance companies offer extensive medical insurance that includes a list of benefits such as free health check-up coupon, tax benefits, cashless claim and EMI facility.
Wednesday, June 24, 2009
Nine points to get health insurTen main ance recover
(NaturalNews) Economic times are tough and many are facing layoffs. Even more are being told that their employer will be eliminating or reducing health benefits. As a result many people are losing their health insurance coverage. Legislation is currently being proposed that can help those without health insurance but sometimes your health cannot wait and you need help now.
1. Off Use COBRA if You Are Laid -
If you get laid off from your job and need health insurance you can Use COBRA (Consolidated Omnibus Budget Reconciliation). COBRA is available for 18 months after loosing your employer health coverage. COBRA allows you to keep the health plan that your employer used to provide as long as that plan still exists. If your employer is still in business and offering some health insurance to current employees you can usually qualify. COBRA will be more expensive than the premiums deducted from your paycheck but this is sometimes necessary if you are unable to get health care elsewhere. COBRA is often cheaper than private and individual health insurance plans.
2. Ask Your Doctor for Help -
Ask your doctor about reduced fees or treatment and drug options for those with lower income or no health insurance. Your doctor may also be able to recommend a health care discount card that they accept.
3. Decrease Stress -
Stress has a terrible effect on your body and your health. Make sure to get enough sleep, exercise regularly, eat natural and healthy foods, and actively use relaxation techniques such as yoga or breathing exercises.
4. Not Smoking -
By not smoking you increase your chances of being approved for another health insurance plan including private and individual health insurance plans. Non-smokers receive much lower health insurance premiums and have less risk of overall health problems.
Almost every state has a local Medicaid office and toll-free numbers. Visit the Centers for Medicare & Medicaid Services web site for information on how to apply: Each state is different but Medicaid allows low-income and eligible people to qualify to have their medical bills paid directly. Some still require co-payments.
6. Apply for Medicare -
Medicare is available only for those 65 years of age or older who meet special criteria. You can contact your local Social Security office or the main office at 1-800-772-1213. You are allowed to apply 3 months before reaching 65.
7. Alternative Natural Treatments -
Alternative Medicine is currently used by thirty eight percent of adults in the United States. Acupuncture and herbal remedies are often cheaper than expensive prescriptions or medical treatments and can provide similar results.
8. Get Health Insurance through Spouse or Partner -
Your spouse or partner may have a health insurance plan where you can qualify as a dependent. Although the cost can be high this typically results in fewer coverage rejections than applying for private or independent health insurance coverage.
9. Take a Lower Paying Job For Better Health Insurance -
Consider taking a lower paying job for better health benefits. How important is your health? What is money without your health? It may mean taking a large pay cut, extra searching for a job with good health benefits, or asking more questions during a job interview. There are some employers out there that pay very little but offer a good health insurance plan. Make sure to ask about waiting periods and how coverage begins.
Monday, June 22, 2009
International medical insurance for expatriates
Goodhealth is a specialist provider of international health insurance for expatriates. We offer a full range of worldwide health insurance plans and whether you are looking for individual, family, group or company cover, we have an international medical insurance plan to suit your requirements. Goodhealth makes sure you have access to the finest medical facilities worldwide, enabling you to obtain the best possible treatment whenever and wherever you need it.
As experienced specialists in international health insurance, we understand that, living abroad, expatriates require comprehensive worldwide medical insurance. Our international travel medical insurance plans ensure you are not faced with large medical bills, and provide a valuable range of additional international healthcare services.
International travel health insurance and international assistancefor expatriates
Whichever healthcare plan you select from Goodhealth, you will benefit from access to our network of medical facilities worldwide.
- We have regional offices in London, Dubai, Hong Kong, Miami, Shanghai and Jakarta, with staff speaking several languages. They deliver expert advice and provide an enhanced local policy administration and claims support service using their extensive international medical knowledge
- Our emergency evacuation benefit ensures that if the required treatment is not available at the place of incident you will be immediately transported to an appropriate facility.
- Our online Global Health Data Bank enables you to search for medical and health resources worldwide through access to a comprehensive directory of international medical and hospital facilities.
An international health insurance policy from Goodhealth gives the expatriate total peace of mind through comprehensive medical expenses cover and a wide range of additional supporting services.
International private medical insurance for expatriatesaround the world.
Contact Goodhealth Worldwide now for a comprehensive range of individual, family, group or company international medical insurance plans. Free quotes may be obtained by clicking the link below or you can call one of our experienced consultants. Wherever you are located overseas, we are able to provide a local service and speedy claims settlement backed by a wealth of global healthcare knowledge.
Contact Goodhealth Worldwide now for a comprehensive range of individual, family, group or company international medical insurance plans. Free quotes may be obtained by clicking the link below or you can call one of our experienced consultants. Wherever you are located overseas, we are able to provide a local service and speedy claims settlement backed by a wealth of global healthcare knowledge.
Friday, June 19, 2009
How to find and keep affordable health insurance
The writers and editors at the Health Insurance Resource Center put the pieces of the medical insurance puzzle together for you in our Health Insurance 101 section, as well as shifting through the best information from across the Internet throughout our pages:
Finding individual health insurance for your family can be confusing. We provide several tools to help you make better choices.
- Get no-obligation health insurance quotes.
- Learn about alternatives to employer-sponsored coverage, including COBRA and high-risk
- Explore our glossary of medical insurance terms.
- Explore our glossary of medical insurance terms.
- Explore our glossary of medical insurance terms.
What can you do to provide low-cost protection for your family's health? Here at the Health Insurance Resource Center, we strive to make you a better-informed consumer to aid you in your quest to secure and keep an adequate health plan for your family, regardless of your individual situation.
Lack of health insurance is an epidemic. What's the cure?
Nearly 16 percent of Americans – 47 million people – are uninsured. According to a story in USAToday, the people without health insurance aren't just the poor – they are all of us. Medical bills are the cause of more than half of all personal bankruptcies in the United States.
Urge Congress to act – now.
The fact that millions lack access to quality, affordable health insurance is easily the biggest domestic crisis facing our nation. Our advocacy page gives you the tools to help convince Congress to support President Obama's call for health care reform. His plans are to ensure health plans do not discriminate on the basis of pre-existing conditions, expand access to the government's own insurance program, lower the cost on existing plans and give you the ability to keep your coverage if you switch jobs or become self-employed. Contact a member of the House of Representatives. Contact a US Senator. Contact the White House
Healthinsurance.org has long-held a well-deserved reputation for promoting health insurance reform, and with President Obama's election we are stepping up our efforts.
State Guides to health plans and health care quality
You'll also find information on the quality of health care in individual states from across the nation, from New Jersey to California. Each page also gives you the opportunity to receive free, no-obligation insurance quotes, complete with pricing and details from competing companies. Many states are seeking ways to tackle the problem of access to affordable health insurance on their own, and we look to health care reform initiatives on our state pages. We also have links to the contact forms for your elected officials, so you can easily lend your support, or offer alternative ideas.
Tuesday, June 9, 2009
Health Insurance Blog
Obama Supports Larger Role For Medicare Advisory Commission
Most Americans probably aren't aware of the Medicare Payment Advisory Commission (MedPAC), a group of experts well-versed in the operational details of the Medicare program. The areas they discuss are extremely dry and technical, and their work covers areas that are beyond the expertise of most members of Congress.
Twice a year, MedPAC issues recommendations to Congress, detailing exactly what they would do in order to improve the operation of the Medicare program, including updating payment and coverage policies, improving access to care, and improving healthcare quality. Sometimes Congress might take a few of these recommendations into consideration, but most of the items are ignored.
According to the Wall Street Journal, those days may be coming to an end. Senator Rockefeller has introduced legislation that would allow MedPAC to play a larger role in healthcare reform by turning it into an independent executive agency comparable to the Federal Reserve Board. President Obama has indicated that he supports this type of larger role for MedPAC, and would take it a step further by automatically adopting their recommendations absent Congressional action to oppose. He would also limit Congress's ability to break individual recommendations out of their package - they would need to be adopted as a group, or not at all.
Experts hope that this will help contain costs in the Medicare program, which would be a great boon, as their trust fund is rapidly depleting. Medicare often serves as a model for other types of health coverage, so what works for this program may be adopted across the board.
Twice a year, MedPAC issues recommendations to Congress, detailing exactly what they would do in order to improve the operation of the Medicare program, including updating payment and coverage policies, improving access to care, and improving healthcare quality. Sometimes Congress might take a few of these recommendations into consideration, but most of the items are ignored.
According to the Wall Street Journal, those days may be coming to an end. Senator Rockefeller has introduced legislation that would allow MedPAC to play a larger role in healthcare reform by turning it into an independent executive agency comparable to the Federal Reserve Board. President Obama has indicated that he supports this type of larger role for MedPAC, and would take it a step further by automatically adopting their recommendations absent Congressional action to oppose. He would also limit Congress's ability to break individual recommendations out of their package - they would need to be adopted as a group, or not at all.
Experts hope that this will help contain costs in the Medicare program, which would be a great boon, as their trust fund is rapidly depleting. Medicare often serves as a model for other types of health coverage, so what works for this program may be adopted across the board.
Editorial Shows That Health Reform Can't Pick Sides
Kaiser Family Foundation President & CEO Drew Altman, Ph.D. recently wrote an editorial which breaks down political opinion on healthcare reform. He states that although the left and right are becoming increasingly polarized, reform appears to be taking place in the middle. Thus, everyone is likely to be at least somewhat unhappy with the results, because nobody is going to get exactly what they want.
It remains to be seen whether this centrist reform will simply be a watered-down compromise, or whether it will meaningfully accomplish all it intends. Once the dust has settled and the ideological posturing has died down, the real question will be how reform will affect Americans, as a practical matter.
Health Insurers and Tobacco Companies Make Strange Bedfellows
A recent article in the New England Journal of Medicine reports that several health insurance companies own a significant amount of stock in tobacco companies. This means that they literally have a financial interest in ensuring that demand for tobacco continues. It also, according to at least one expert, eliminates any doubt that insurance companies are for-profit organizations who are motivated by profit, not the health of its customers.
The Secret To Health Reform Success
A recent Congressional Budget Office report points to the role of private insurers as a key factor in the success of healthcare reform efforts. According to the Washington Post, the limited role of the private marketplace sounded the death knell for the Clinton reform plan in the early 1990's because a large and dramatically expanded governmental role was not, and still is not, politically viable. Reformers have been careful to avoid similar issues this time around by maintaining an active role for private insurers and proposing health insurance exchanges that would include both public and private insurance options.
Health insurance
Health insurance is insurance that pays for medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government-sponsored social insurance program, or from private insurance companies. It may be purchased on a group basis (e.g., by a firm to cover its employees) or purchased by individual consumers. In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from high or unexpected healthcare expenses. Similar benefits paying for medical expenses may also be provided through social welfare programs funded by the government.
By estimating the overall risk of healthcare expenses, a routine finance structure (such as a monthly premium or annual tax) can be developed, ensuring that money is available to pay for the healthcare benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.
History and evolution
The concept of health insurance was proposed in 1694 by Hugh the Elder Chamberlen from the Peter Chamberlen family. In the late 19th century, "accident insurance" began to be available, which operated much like modern disability insurance.[2][3] This payment model continued until the start of the 20th century in some jurisdictions (like California), where all laws regulating health insurance actually referred to disability insurance.[4]
Accident insurance was first offered in the United States by the Franklin Health Assurance Company of Massachusetts. This firm, founded in 1850, offered insurance against injuries arising from railroad and steamboat accidents. Sixty organizations were offering accident insurance in the U.S. by 1866, but the industry consolidated rapidly soon thereafter. While there were earlier experiments, the origins of sickness coverage in the U.S. effectively date from 1890. The first employer-sponsored group disability policy was issued in 1911.[5]
Before the development of medical expense insurance, patients were expected to pay all other health care costs out of their own pockets, under what is known as the fee-for-service business model. During the middle to late 20th century, traditional disability insurance evolved into modern health insurance programs. Today, most comprehensive private health insurance programs cover the cost of routine, preventive, and emergency health care procedures, and also most prescription drugs, but this was not always the case.
Hospital and medical expense policies were introduced during the first half of the 20th century. During the 1920s, individual hospitals began offering services to individuals on a pre-paid basis, eventually leading to the development of Blue Cross organizations.[5] The predecessors of today's Health Maintenance Organizations (HMOs) originated beginning in 1929, through the 1930s and on during World War II.[6][7]
How it works
A health insurance policy is a contract between an insurance company and an individual or his sponsor (e.g. an employer). The contract can be renewable annually or monthly. The type and amount of health care costs that will be covered by the health insurance company are specified in advance, in the member contract or "Evidence of Coverage" booklet. The individual insurered person's obligations may take several forms:[8]
By estimating the overall risk of healthcare expenses, a routine finance structure (such as a monthly premium or annual tax) can be developed, ensuring that money is available to pay for the healthcare benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.
History and evolution
The concept of health insurance was proposed in 1694 by Hugh the Elder Chamberlen from the Peter Chamberlen family. In the late 19th century, "accident insurance" began to be available, which operated much like modern disability insurance.[2][3] This payment model continued until the start of the 20th century in some jurisdictions (like California), where all laws regulating health insurance actually referred to disability insurance.[4]
Accident insurance was first offered in the United States by the Franklin Health Assurance Company of Massachusetts. This firm, founded in 1850, offered insurance against injuries arising from railroad and steamboat accidents. Sixty organizations were offering accident insurance in the U.S. by 1866, but the industry consolidated rapidly soon thereafter. While there were earlier experiments, the origins of sickness coverage in the U.S. effectively date from 1890. The first employer-sponsored group disability policy was issued in 1911.[5]
Before the development of medical expense insurance, patients were expected to pay all other health care costs out of their own pockets, under what is known as the fee-for-service business model. During the middle to late 20th century, traditional disability insurance evolved into modern health insurance programs. Today, most comprehensive private health insurance programs cover the cost of routine, preventive, and emergency health care procedures, and also most prescription drugs, but this was not always the case.
Hospital and medical expense policies were introduced during the first half of the 20th century. During the 1920s, individual hospitals began offering services to individuals on a pre-paid basis, eventually leading to the development of Blue Cross organizations.[5] The predecessors of today's Health Maintenance Organizations (HMOs) originated beginning in 1929, through the 1930s and on during World War II.[6][7]
How it works
A health insurance policy is a contract between an insurance company and an individual or his sponsor (e.g. an employer). The contract can be renewable annually or monthly. The type and amount of health care costs that will be covered by the health insurance company are specified in advance, in the member contract or "Evidence of Coverage" booklet. The individual insurered person's obligations may take several forms:[8]
- Premium:The amount the policy-holder or his sponsor (e.g. an employer) pays to the health plan each month to purchase health coverage.
- Deductible:The amount that the insured must pay out-of-pocket before the health insurer pays its share. For example, a policy-holder might have to pay a $500 deductible per year, before any of their health care is covered by the health insurer. It may take several doctor's visits or prescription refills before the insured person reaches the deductible and the insurance company starts to pay for care.
- Copayment: The amount that the insured must pay out-of-pocket before the health insurer pays its share. For example, a policy-holder might have to pay a $500 deductible per year, before any of their health care is covered by the health insurer. It may take several doctor's visits or prescription refills before the insured person reaches the deductible and the insurance company starts to pay for care.
- Coinsurance: Instead of, or in addition to, paying a fixed amount up front (a copayment), the co-insurance is a percentage of the total cost that insured person may also pay. For example, the member might have to pay 20% of the cost of a surgery over and above a co-payment, while the insurance company pays the other 80%. If there is an upper limit on coinsurance, the policy-holder could end up owing very little, or a great deal, depending on the actual costs of the services they obtain.
- Exclusions:Not all services are covered. The insured person is generally expected to pay the full cost of non-covered services out of their own pocket.
- Coverage limits: Some health insurance policies only pay for health care up to a certain dollar amount. The insured person may be expected to pay any charges in excess of the health plan's maximum payment for a specific service. In addition, some insurance company schemes have annual or lifetime coverage maximums. In these cases, the health plan will stop payment when they reach the benefit maximum, and the policy-holder must pay all remaining costs.
How to find and keep affordable health insurance
The writers and editors at the Health Insurance Resource Center put the pieces of the medical insurance puzzle together for you in our Health Insurance 101 section, as well as shifting through the best information from across the Internet throughout our pages:
Finding individual health insurance for your family can be confusing. We provide several tools to help you make better choices.
Finding individual health insurance for your family can be confusing. We provide several tools to help you make better choices.
- Get no-obligation health insurance quotes.
- Explore our glossary of medical insurance terms.
- Learn about alternatives to employer-sponsored coverage, including COBRA and high-risk insurance pools.
- Peruse Frequently Asked Questions about health care.
- Understand health insurance options for the self-employed.
What can you do to provide low-cost protection for your family's health? Here at the Health Insurance Resource Center, we strive to make you a better-informed consumer to aid you in your quest to secure and keep an adequate health plan for your family, regardless of your individual situation.
Lack of health insurance is an epidemic. What's the cure?
Nearly 16 percent of Americans – 47 million people – are uninsured. According to a story in USAToday, the people without health insurance aren't just the poor – they are all of us. Medical bills are the cause of more than half of all personal bankruptcies in the United States.
Urge Congress to act – now.
The fact that millions lack access to quality, affordable health insurance is easily the biggest domestic crisis facing our nation. Our advocacy page gives you the tools to help convince Congress to support President Obama's call for health care reform. His plans are to ensure health plans do not discriminate on the basis of pre-existing conditions, expand access to the government's own insurance program, lower the cost on existing plans and give you the ability to keep your coverage if you switch jobs or become self-employed. Contact a member of the House of Representatives. Contact a US Senator. Contact the White House
Healthinsurance.org has long-held a well-deserved reputation for promoting health insurance reform, and with President Obama's election we are stepping up our efforts.
International Health Insurance
Personal Insurance Advice
Our objective is to ensure what is important to you by offering professional advic
e and competitive quotes so you are prepared when unexpected events strike, and you can get on with enjoying life.
When you are traveling the world, whether for work or for pleasure, it is important to be protected by a comprehensive insurance plan.
e and competitive quotes so you are prepared when unexpected events strike, and you can get on with enjoying life.When you are traveling the world, whether for work or for pleasure, it is important to be protected by a comprehensive insurance plan.
A simple guide to International Medical Insurance
Leaving your home country and moving abroad to live and work is a big decision and havi
ng to concern yourself with medical insurance brings unwanted stress.
Many employers provide medical cover for their staff at home but this is not always the case overseas and in some cases the cover is not sufficient or is inappropriate for every employee.
ng to concern yourself with medical insurance brings unwanted stress.Many employers provide medical cover for their staff at home but this is not always the case overseas and in some cases the cover is not sufficient or is inappropriate for every employee.
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