Health Insurance Update

What is the first thing to know about buying health coverage?

Your aim is to assure yourself as well as your family against the most serious and financially disastrous deficiencies that can result from an illness or accident. If you are offered health benefits at work, carefully review the plans’ literature to make sure the one you select fits your needs. If you purchase individual coverage, buy a policy that will cover major expenses and pay them to the highest maximum level. Save money on premiums, if necessary, by taking large deductibles and paying smaller costs out-of-pocket.

Is it possible to buy a single health insurance policy that will most likely provide all the benefits I might need?

No. Although you can select a plan or buy a policy that should cover most medical, hospital, surgical, and pharmaceutical bills, no single policy covers everything. Moreover, you may want to consider additional single-purpose policies like long-term care or disability income insurance. If you are over 65, you may want a Medicare supplement policy to fill in the gaps in Medicare coverage.

Source

If there is a single group of people whom we talk about disability insurance with, it would be the physicians. This is so primarily because physicians are involved in highly skilled personal service that can not be passed on to anyone else, it must be done only by a doctor. Hence, if the doctor won’t be able to perform his duties because of illness or injury, the flow of cash stops. Secondly, physicians are very much aware that the human body can get hurt or fall ill. We are aware of this as well but it is not imprinted in our consciousness as it is for physicians. In effect, this poses an even greater pursuit for the physicians to get disability insurance during their residency.
There are three ways that a physician acquires disability insurance. One is from a local agent whom he knows or is referred to. Another one is through association group plans, and last is from a credible online disability insurance site like protectyourincome.com. Relying on the first is somewhat of a risk based on two factors: the proficiency of the local agent and his/her access to the leading companies. The second may lead to insufficient coverage. The final option allows private study of the subject on your own, keeps confidential your affairs and gives you access to leading companies as well as advice from professionals who are very learned of disability insurance.

(Further reading: http://protectyourincome.com/disabilityinsurance/physician.asp)

The Massachusetts Health Care Reform Act requires all residents 18 years old above to be enrolled in some form of health insurance. This law is extremely beneficial for most college students because several young adult health insurance plans provide coverage for those 19 to 26 years of age. These plans include reasonable terms like co-pays and are accompanied by affordable premiums.

The new health insurance law attempts to provide universal health insurance in the State. The danger however lies in the implementation where some people may end up with health insurance coverage they do not intend to use or worse cannot afford to pay for. The goal is to have a tool to help save lives and prevent financial burden for everyone.

by mheo soriano

Having a health insurance gives you assurance and peace of mind

When you choose the right Private Health Insurance you feel more assured that whenever your family receives sudden casualties or illness they family will have access to high quality medical services without a huge financial weight.

The Earlier the better: Now Is the best time to join

It is better if you join at an early age because you can end up paying more for health insurance over your lifetime. When you join after you turn 30 most companies dish a 2% surcharge per year up to a maximum surcharge of 70%.

by mheo soriano

Insuring yourself is advantageous
Studies show that with health insurance, surgeries and other medical services appear cheaper. In case of an injury you can immediate treat injuries with less hassle. For example a knee injury that requires a surgery would cost up to $13,000. What would you do if you don’t have this value readily available? Isn’t insurance a better alternative than loans with high interest rates?

You can get immediate treatment

When you have private hospital insurance you’ll never have to go through waiting lists for long periods to get treated. Plus there is a higher chance that you would have the doctor of your choice. If you are admitted as a public patient, the hospital will choose one for you. Lastly it is better to receive the treatment as soon as possible to avoid the risk of worsening the complication.

To be continued…

by: Mheo Soriano

Why should you get a health insurance?

If you think that getting a health insurance is no good… then you are wrong.

Nowadays you can never tell when or what will hit you… one day you’re up, and you may be down on the next. You have to be prepared anytime, for anything.

When subscribed to a health insurance, you can save on income tax and additional lifetime charges. Plus the fact that you can even get expensive medical services anytime you need them, especially during times when you get sick and don’t have the money to spend for it.

to be continued…

Under the State of California, there are no laws explicitly requiring employers to provide medical health insurance to their employees and or their dependents. However, there are a number of rules and regulations that cover those who do offer medical insurance for their employees which may or may not include dependents.

There are some notable state and federal legislations that govern the different aspects of how businesses must manage issues concerning health insurance. Which laws apply to certain businesses would depend on the number of employees concerned and what particular coverage is provided. Some of these state and federal laws are:
1. California Small Group Law AB1672
2. COBRA and CalCOBRA
3. Employee Retirement Income Security Act of 1974 (ERISA)
4. Health Insurance Portability and Accountability Act (HIPAA)
5. California Mental Health Parity Law AB88

Attempts to provide universal health care is being done in San Francisco. The success of the plan is based on rarely discussed notion: cultural competency. Treatment of patients will no longer be based solely on raw data such as cholesterol and blood pressure levels. Demographics like race, gender, sexual orientation and such will be taken into account in marketing the proposed plan.

In a city populated by various ethnic and racial groups, multitudes of immigrants with more than 100 different spoken languages, significant gay and lesbian population, success of the plan will hinge largely on how cultural competency is practiced.

Unprecedented increases have been seen over the past several years on the cost of providing health insurance for employees. Health insurance premiums have grown to double digits and there seems to be no change in this trend. One reason is how health insurance is utilized by employees. Many employees feel that insurance coverage must be completely spent monthly. Consistent visits to their doctors contribute to the rise in premiums.

What most fail to realize is that health insurance is a standby protection in case of emergency. It is a safety net for events that catch you off guard. Practical usage of health insurance coverage will help to bring the cost down and make it affordable for more people.

Children’s health financing in the United States is primarily public sector funded. Financing is shouldered by the state and federal governments with administration falling under the state. Other sources of public insurance are the military and Medicare, however, coverage of both is fewer than 5% of the children’s population.

Majority of the children’s population remain uninsured due to various reasons ranging from socio-economic status of the family or lack of employer’s coverage for dependents. Majority of working parents do not have coverage from employers or meager earnings make health insurance unaffordable. Some do not even qualify for public health insurance due to residency or status. Health care for uninsured children has remained out of reach.