Health Insurance Update

I’ve had a serious health condition that appears to be stabilized. Can I buy individual health coverage?
Depending on what your condition is and when it was diagnosed and treated, you can probably buy health coverage. However, the insurer may do one of three things:

• provide full protection but with a higher premium, as might be the case with a chronic disease, such as diabetes;
• modify the benefits to increase the deductible;
• exclude the specific medical problem from coverage, if it is a clearly defined condition, as long as the insurer abides by state and federal laws on exclusions.

One of my medical bills was turned down by the insurance company (or health plan). Is there anything I can do?
Ask the insurance company why the claim was rejected. If the answer is that the service isn’t covered under your policy, and you’re sure that it is covered, check to see that the provider entered the correct diagnosis or procedure code on the insurance claim form. Also check that your deductible was correctly calculated.

I’m planning to keep working after age 65. Will I be covered by Medicare or by my company’s health insurance?

If you work for a company with 20 or more employees, your employer must offer you (through age 69) the same health insurance coverage offered to younger employees. After you reach age 65, you may choose between Medicare and your company’s plan as your primary insurer. If you elect to remain in the company plan, it will pay first for all benefits covered under the plan before Medicare is billed. In most instances, it is to your advantage to accept continued employer coverage.

But be sure to enroll in Medicare Part A, which covers hospitalization and can supplement your group coverage at no additional cost to you. You can save on Medicare premiums by not enrolling in Medicare Part B until you finally retire. Bear in mind, though, that delayed enrollment is more expensive and entails a waiting period for coverage.

Source

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.

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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)

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

Congress has passed a bill which expands children’s health insurance, which allows an additional 8,000 kids to enjoy coverage from health insurance. These are children who belong to families who are above Medicaid requirements but cannot afford to get a private insurance policy.

The House on Monday approved legislation to expand the ARKids First children’s health insurance program. The Senate passed a bill that would tax hospitals and then use the proceeds to bring in more federal matching dollars for Medicaid, as well as legislation to provide schools across the state with defibrillators. House Bill 1700 by Rep. Robert Moore, D-Arkansas City, passed in the House in an 82-14 vote and now heads to the Senate. The bill would change the maximum income level to be eligible for ARKids First from 200 percent of the federal poverty level to 250 percent.

Read the whole story here.

Where’s the money going to come from? It apparently comes from an expanded tax on cigarettes, which charges an additional 56 cents per pack. Some are protesting the move though, and are suggesting insurance vouchers to be handed out to children. Proponents of the bill have shot back, saying that looking to the private sector for help in providing better child health care is the more logical step. And after all, we could do better with less people lighting up and smoking.

But again, like many other laws, the general public still has to wait a bit before the benefits trickle down to their level. But this is largely good news especially to those whose families lie in the limbo of being overqualified for Medicaid but cannot afford to pay for their own private insurance.

There is a growing discontent amongst people and small business owners who may have to shell out more cash to pay for the government’s move to revamp the health care system. This has brought about by plans to further revamp the health care system as the new government takes office this coming 20th of January. Many are already feeling the pinch of the recession and hate this type of tax increases for they are already stretched to the limit, strapped of cash.
Most jobless, almost 12 million by the middle of this year if trends continue are getting more help but in the long run, even after recovery they still have to bear the brunt of the costs for the proposed health care overhaul. Big plans have been laid out and as the government grows its financial budget deficit who else would be paying for the said costs but consumers and regular citizens themselves. This is not a good sign form many who have already lost jobs due to downsizing, laid off as victims of the recession are having to go without health insurance in whatever form. Time will tell if the moves to revamp the system would be effective enough to decrease the gap of insured and uninsured as the recession takes hold.