Minggu, 31 Mei 2009

Factors That Affect The Average Health Insurance Cost

It is not easy to breakdown the average health insurance cost into a simple, single figure. This is due to the fact that the costs are dependent on many different factors and therefore, vary quite largely. Some of these factors have been discussed below briefly to help guide your search for the best insurance cost.

Locality

Every state has its own rules and regulations pertaining to health policies. Hence, the premiums on these policies differ significantly from state to state.


Type of Health Insurance

There are so many types of policies available in the market. You may choose from the available private health insurance policies, group health insurance policies (based on your job or an association that you belong to) or even from government-funded policies such as Medicare or Medicaid. The premiums on these policies differ greatly.

Age

Common sense tells us that there are certain health risks associated with certain age groups. Consequently, the premiums on the policies usually vary depending on the age of the insured.

Health Status

Most private health insurance policies require you to declare pre%u2013existing medical conditions. If you do have any such conditions, premiums on your health insurance are often charged significantly higher.

Lifestyle

If you consume alcohol, smoke and are overweight, you are considered to be more liable to suffer from certain health problems. Hence, it is likely to cost more.

Coverage

The cost naturally depends on the coverage provided as well. For example, coverage for maternity, office visits and brand prescription drugs tend to increase the cost of the health insurance. Dropping such covers that you do not need will bring down its cost.

Preventive Care and Well-Being Services

Some of it comes with additional benefits such as preventive care and well-being services. You may get to attend workshops on healthy eating or get a health club membership at a discount by getting these health insurance policies. But, usually, with these additional benefits come additional costs. For further information on average costs, you may want to refer to reports generated by The Association of Health Insurance Plans. These reports are often prepared based on the different factors that affect its costs.
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Rabu, 27 Mei 2009

Extensive Health Insurance Coverage Does Exist Online Today

Due to so many awareness programs, articles in magazines as well as customers interests in good health insurance policies being conducted, it has become extremely easy to find the best policy as it does actually exist. One major reason for this is the development of various new insurance agencies in the market which offer a huge range of different policies in different categories so that each class of customers can be satisfied.

Now due to the present condition of the economy worldwide most people are having a tough time in paying these insurance premiums on a regular basis specifically those people who purchased a very costly plan and are now wanting to do away with it as it would and up in saving some money to meet other monthly expenses.


There is no need to panic as experts are of the opinion that insurance is no longer seen as a luxury but has become a necessity. The medical costs of specialists are increasing each day hence one has to be wise and choose a health policy which has a great coverage at low costs.

The best way for you to see if great policies actually exist is by going on the internet and searching for all the best health coverage agencies. By doing this you can even check and see how well the policy suits your needs as well as your families.

Now gather cutthroat quotes from all your providers and then compare them with different features of individual plans and see which one fits in your budget. When you do this you can eliminate the ones that don't and narrow down on those plans which offer low premiums with adequate coverage. You can even bargain and get group discounts which can be applicable for you and your family together.

Once you have taken the advice of your health advisor relating to the amount of coverage required from your policy which will be done by seeing your health risks which your doctor will determine, then you will be able to negotiate on many aspects with the agency offering you the health insurance plan to get the exact plan that you are looking for.

If you act smartly and do a thorough research about all the various kinds of agencies in your area as well as city then you can close in on a few who exactly match your requirements. Suppose you narrow down to five companies, you are in a position of saving hundreds of dollars per month if you manage to negotiate and get a good deal where you get excellent coverage with low premiums.

This has to be done in such a way that the premium rate does not affect the health coverage you require even one bit. The quality of medical treatment is constantly rising and you must see that your insurance gets you the best possible treatment when required. Now is the time for you to start researching and looking for all companies in your area. Take the first step towards this and you will find yourself the owner of the best insurance policy with a low premium rate as well as extensive coverage.
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Selasa, 26 Mei 2009

How to Find Low Cost Health Insurance For the Self Employed

If you're self-employed and located in New York, obtaining a health insurance plan would be a top priority if you aren't already insured. With the rising cost of health care, price is always a key factor. For the most competitive rates going online is the first place to search. Without having to leave your home you can see what most of the carriers are offering and if it's affordable.

Most people who are self employed aren't aware of the options that are available. They usually contact an insurance company direct and are astounded to find out that an individual policy can cost over $1,000 per month and a family plan well over $3,000 per month. There are other options available, most self employed persons can join a local business association that may offer health insurance plans to their members.


One of the advantages of being self employed is that you will be able to deduct your health insurance premiums from your taxes. The deduction will help offset some of the premiums that you pay. However you cannot deduct your medical expenses unless it's in excess of 7.5 % of your income.

In New York, most insurance companies don't sell direct to the Self employed. Rather insurance companies establish relationships with business associations. They contract with these associations to handle enrollment & billing, lessening the burden on the insurance carrier. The companies that currently offer association health insurance plans in New York are Atlantis, Emblemhealth, Hip & Oxford.

Another way to help decide on a health insurance company is to ask other people who are also self-employed what plans they have and where they purchased their plan from. For many people along with business associations the Chamber of Commerce is a good organization to join. Besides the opportunity to purchase an insurance plan, most Chambers offer other business services and it gives you a great opportunity to meet other business persons in your area.

Whether you purchase your health insurance from a chamber, trade or business association you're actually buying into a Group plan. Essentially these organizations buy in bulk and pass the savings along to their members. In most cases these plans are almost always more affordable than individual plans. Unfortunately many shoppers don't take the time out to compare benefits but rather buy solely on price. Whichever route you choose before purchasing a plan, be sure to fully understand the benefits that are offered and compare the offering to your current coverage.
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Jumat, 22 Mei 2009

What is COBRA ? Is it Health Insurance?

COBRA (Consolidated Omnibus Budget Reconciliation Act) is a U.S government agency concerned with providing continuity of health insurance to employees who left their jobs. This is an insurance program passed by the U. S Congress and signed by Ronald Reagan.

Purpose

COBRA is there to step in when the unexpected happens after loss of employment, as well as some other unexpected life situations. Examples are the following: death of the person covered in the insurance, an employee loses eligibility due to involuntary termination except for grave misconduct, divorce or legal separations that enables the spouse to be covered, and a dependent child who reaches the age that he or she is no longer covered to the insurance benefits.


COBRA allows coverage for up to 18 months, unless the person is deemed disabled by Family Social Security Administration, in which case the coverage can reach up to 29 months. In the case of divorce, coverage can last up to 36 months.

COBRA however does not provide coverage if the person has been terminated because of his own fault or the employer has gone out business.

COBRA allows the former employee to pay in full what the employer has previously paid for. Employees loose their coverage if they fail to make timely payments for these premiums.

Only 10% of Americans eligible for COBRA insurance enrolled in it in 2006 because they were not able to pay the employer in full after they left their jobs. The American Recovery Investment Act of 2009 passed by the House of Representatives provides 65% of people eligible for COBRA with 9 months of insurance. While some employees voluntarily help subsidize or fully cover the cost of insurance as part of a termination or exit package, commonly ex-employers pay for the entire cost.

However specific provisions and responsibilities may vary depending on the state, as in mini-COBRA plans for fewer than 20 employees. Those eligible for this subsidy are called Assistance Eligible individuals (AEI).

Employers who are subjected to Federal COBRA must:

* Inform terminated employees of their rights under ARRA by sending a series of notifications.

* Provide methods for Qualified AEIs to apply

* pay the 65 % subsidy and seek payment by filing the Amended form 941
COBRA is a way for the government to help temporarily those who are in immediate need of financial assistance especially for health care.
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Kamis, 21 Mei 2009

Don't Panic, Just Find New Health Insurance Quotes Online

A wide range of options in the health insurance policies proves out to be really helpful in terms of getting a good health security at affordable cost. There are different plans depending from person to family to companies. You can choose the one that suits you the best.

Many of these plans come not only at good prices but also have additional and lucrative benefits like flexible payment options, discounts, tie-ups with other insurance plans and many more. If you are forced to think that your insurance plan is not as competitive to give you these benefits of wide coverage and good premiums, then don't think about it much and simply go ahead and but a new insurance plan that will give you all of this.


With the growing needs and competition, you are sure enough to get some companies that will offer you what suits your need and that are a good coverage and nice premium package. You will find many of these companies giving you these benefits and hence you are free to choose whatever you want according to your budget.

With the advancements in various fields, the companies offering these plans are now available to talk to you through their representatives who are online every hour of the day so as to make the dealing and shopping all the more easier for you. You can get in touch with them any time you want and learn more about their policies.

If you are really keen or changing your plan or you think that your current provider hasn't given you the plan you want and that is a plan where you get wide coverage and benefits at a good price or also if your policy is ending, what you can do is change your provider by talking to the companies or going through their plans online and making that right choice of health insurance policy for yourself.

The various segments like family or employee health can be evaluated to get various quotes and you can get it through internet and you can also go through the companies, their plans, prices, discounts and many more.

Fix your budget for the future by getting check up done by your doctor and find out if there are chances of any problems in the future. Then, if you have doubts regarding the policy you have, then check them by comparing the other companies that offer other or similar policies in the same budget range. If you are still not satisfied with your plan, they go for the one that best suits your needs. Just pick the one that gives you the best coverage, better choice of doctors, travel coverage, discounts, etc and stay healthy.
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Selasa, 19 Mei 2009

Dangers In Buying Health Insurance Online

When faced with the dilemma of buying their own health insurance, consumers find a baffling array of choices, terms, waiting periods, deductibles and exclusions. What is the difference between coinsurance and a co pay anyway?

With less employers than ever offering health insurance benefits, people retiring earlier, and the trend toward self-employment and entrepreneurship, there are more people buying individual and family health insurance plans (IFP) than ever before.

Compounding the problem is the fact that health insurance is very complex, and consumers can easily make very serious mistakes that end up costing them tens of thousands of dollars - after it's too late.


Naturally, with the growth of the internet has come the growth of "online" health insurance marketplaces. Unlike term life insurance, auto or homeowner's insurance, health insurance has so many moving parts that it is not a commodity easily compared or purchased online. You are not buying an airline ticket from Travelocity, or a book from Amazon! Many online health insurance shoppers are duped into buying a virtually worthless "discount" plan instead of real insurance. Other consumers are under the mistaken impression that buying online will lower their premium - not true!
Here are the main problems in comparing and applying for health insurance from one of the online marketplaces.

First, not all of the sites have all of the plans available. When making such a critical and expensive purchase, wouldn't you want to have the entire universe of coverage available to you?

Secondly, it is almost impossible to get an accurate premium quote online. Most online health insurance sites quote the "standard" rate. There is no way to tell if the medication you're taking, or your height and weight ratio or any of the dozens of considerations that go in to the rate will effect your final price for coverage - you are flying blind!

Many online health insurance sites have "sponsored" or "featured" listings. After you enter your demographic info, available policies pop up. Often times the insurance company will have paid the site for premium placement, much like Google or Yahoo. Many mistakenly think this means it's the "best" policy for them, and with the dizzying array of options for coverage, it's not hard to see how they could make this potentially expensive mistake.

Last, and certainly not least, is the "service after the sale" aspect. If you run into a problem with a claim payment for instance, will the online health insurance website be there to act as your advocate with the insurance company?
What is the answer, you ask? The best and safest way to shop, compare and apply for individual and family health insurance coverage is through a reputable, experienced independent health insurance broker. Agents that sell mainly auto and homeowner's insurance may not have the expertise. Look for one that has at least five years in the business, and works with multiple insurance companies. The policy won't cost you any more than if you bought it online. A knowledgeable health insurance broker can help steer you away from the pitfalls, as well as answer your questions - including the ones you don't think to ask.
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Senin, 18 Mei 2009

A New Children's Health Insurance Program (CHIPRA 2009)

The CHIP program has evolved over the years and is another option, via the government, for possible health insurance. However, please note that this government program is not a full blown health insurance plan like you could get through private health insurance companies and thus have limitations and coverage caps, etc. CHIP is a great possible option for those on a lower income or if one cannot get on an individual health insurance plan due to medical underwriting. Below is information on benefits that have been added to the CHIPS program this year.

Shortly after taking office, on February 4, 2009, President Obama signed into law new regulations and extension of benefits (CHIPRA) for an existing children's health insurance program (CHIP).

This act provides health insurance coverage to lower income pregnant women and children who do not qualify for the state assistance program, but who fall within 300% of the federal poverty level (FPL). It is designed to help children in families that earn too much to qualify for Medicaid, but too little to afford private health insurance.

The act was made effective April 1, 2009 and will continue through 2013.
Under this bill more than four million uninsured children will be able to get medical assistance. Increased tobacco taxes will offset the increase in spending which is currently estimated at more than $32 billion over the next four years.

Here are some important highlights of this bill:
- Dental care coverage increases. States must cover dental care under the children's health program. They will also be allowed to provide dental coverage as a supplement to private insurance.

- Legal immigrants qualify for assistance more quickly. Pregnant women and children under 21 are the ones affected. Previously, legal immigrants had to wait five years from the time they entered the United States before they were eligible for medical assistance from Medicaid and the State Children's Health Insurance Program. Now States are able to cover pregnant women and children who are legal immigrants.

- Financial eligibility requirements have been raised. This means more families can be helped. A pregnant woman's financial eligibility is now set at 185% of the Federal Poverty Level; a child under 19 is set at 200% of the FPL. The cap is set at 300%.

- States can choose how they want to implement this increased health coverage. They can expand Medicaid by increasing the maximum family income allowable for children. Or they can expand current health programs by increasing the number of children they will accept into the program or by opening the doors to allow higher-income families to participate. They are also able to establish new programs that comply with federal law. However the States choose to do it, they will receive matching funds from the federal government for the new children enrolled.
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Rabu, 13 Mei 2009

Cheap Car Insurance-7 Tips To Reduce Your Car Insurance Costs (Part 2)

Yes, here are some tips for those looking for cheap car insurance to help reduce the cost of car insurance without compromising other things.

1. Look at your deductible amount. This is the amount that you pay first out of any claim. The cost of your policy is directly related to this amount. Many people, particularly those who have had their insurance policy for a long time, have never considered whether they ought to vary their deductible. If you have a good driving record and are prepared to increase the risk of paying a larger amount in the event of a (hopefully unlikely) claim you can save money by increasing your deductible.

2. Have a look at the type of car you drive. Certain types of cars attract higher car insurance rates. Cars such as sports cars and also certain makes and models that are prime theft candidates cost more to insure. If you are buying a car then find out which makes and models these are before you buy.

3. Drive carefully. Although it sounds a little trite to say it, your car insurance cost is a factor of your risk profile. You won’t get cheap car insurance if you have had 3 speeding fines and 2 accidents in the last year. These things are all taken into account and you should take care with how you drive. It all adds up onto your bill. There are big safe driver discounts available.

4. Considering installing safety and anti theft devices in your car. Again these affect your risk profile. If you have a car that is safer and less at risk of theft it should be cheaper to insure. And if you have a car with certain safety devices now check that your insurance company is aware of these, if not tell them.

5. Look at your policy when it comes to renewal time, don’t just pay. There are some things that you can vary in your policy that will affect the cost. Often there are some things there which duplicate other insurance that you may have that can be eliminated. Be critical, look carefully and ask questions about all these before you renew your policy.

6. Have a look at who your other insurers are. Many insurers offer a discount for multiple policies. If you insure your house with a certain company then ring them up and find out if they do car insurance. Get a quote from them. Find out what discounts they offer.

7. Find a good online discount car insurance broker before renewing. The internet is a fabulous resource. Use it. There are all sorts of discount insurance brokers online where you can get fast quotes from a wide range of companies. Don’t just settle for the same company you always use. Car insurance rates vary all the time. Always get comparable quotes before renewing any policy.

So if you’re in the market for cheap car insurance there’s some ideas for you. Don’t just accept that car insurance is always prohibitively expensive, get out there and do something about it.
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Sabtu, 09 Mei 2009

Cheap Car Insurance - 7 Tips To Reduce Your Car Insurance Costs (part 1)

Hi all, here are some tips to reduce your car insurance costs. With the cost of car insurance becoming more and more of an issue for the average American family, there are increasing numbers of people looking for cheap car insurance. But although it is possible to find cheap car insurance, the question remains, is it worth buying?
Everyone knows that car insurance companies are not all equal. Cheap car insurance is wonderful when paying the bill, but make a mistake on the company you select and you could find that the cheap car insurance policy that you found may turn into a nightmare. Cheap car insurance may not turn out to be so attractive when making a claim.
So if you have found a discount car insurance broker don’t just take the cheapest quote that you get. You need to find out a little about the insurance company that is offering the cheap car insurance rates.
And there’s ways to reduce the cost of your car insurance even with the best of companies. Here are some tips for those looking for cheap car insurance to help reduce the cost of car insurance without compromising other things.
To be continued… Read More ..

Jumat, 08 Mei 2009

Low Cost Health Insurance -- You'll Spend Less If You Use These Tips (part 2)

Okay next posting about low cost health insurance

4. Evaluate your health insurance coverage from time to time. Even if this does not lead to savings, it will ensure you always have enough health insurance. And then you can also discover while doing this routine check that you really do NOT need some coverage you have bought.
You will then lower your cost by dropping such unnecessary coverage. A good case is a family health insurance policy that still includes your married daughter who has another plan with her husband. It is very easy to forget little details like this.

5. You'll get cheaper premiums if you make your payments by Electronic Funds Transfer (EFT). This just means your insurance provider withdraws your premiums automatically from your account each month without sending you payment notices. This removes administrative costs like those incurred when mailing payment notices. Your premium is therefore lowered in line with the lower cost of giving you insurance.

6. You can save much money in health insurance if you get and compare health
insurance quotes from quotes sites. You will realize savings if you go to only one of such sites. However, you'll get better results by using at least five. The simple logic in this is that you'll receive many more health insurance quotes from many more insurance companies. This increases your chances of getting better offers. Read More ..

Kamis, 07 Mei 2009

Low Cost Health Insurance -- You'll Spend Less If You Use These Tips

Low cost health insurance: It is really very easy for everyone to find adequate coverage for a lot less. The only things that stand between you and getting a cheaper rate now are the right information and a resolve to use the tips you get. Below are a few things that will help you get to this goal...

1. Lines of duty that are regarded as hazardous get higher rates. You will get cheaper premiums if you leave a hazardous line of duty for a non-hazardous one. An individual who works in a nuclear plant can't attract similar rates with a clerk in the neighborhood supermarket.
2. If you intend to save in health insurance get a Flexible Spending Account. You can keep tax-free dollars to take care of your health needs. You can in addition roll over any amount you did not use in a year to the next tax-free. You can build a large reserve of funds for your health need tax-free if you have a Flexible Spending Account.
3. You'll pay less for health insurance if you're flexible in your choice of health care providers. For you to get the most affordable rates you may be compelled to use doctors and hospitals that belong to a particular group or network. That might suggest that you'll have to wave goodbye to your favorite doctor.

If you consider this to be too much for you to sacrifice then you can visit my next posting... Read More ..