New Health Insurance Bill Introduced To Help Cover Catastrophic Medical Costs

Senators Gordon Smith (R-Ore.) and Ron Wyden (D-Ore.) recently introduced a bill (S 3701) at the national level that would create several pilot programs allowing states, including Texas, to offer uninsured residents health plans that provide basic coverage paired with catastrophic coverage for individuals who have high out-of-pocket health costs.

The bill would establish six pilot projects, for which states could apply through the Health and Human Services Department. At least two projects would create a “hybrid” health insurance plan that would combine primary and preventive care coverage with high-deductible catastrophic coverage. Private health insurance companies could market this plan to both uninsured individuals and small businesses. There are at least two other projects, which would help privately insured individuals who have out-of-pocket costs that exceed $10,500 annually.

The proposed legislation also would provide for gradual subsidization of plan premiums for workers with annual incomes below 200 percent of the … Read More

Choose Your Health Insurance! – When?

Making a wise decision on which Health Insurance Policy to buy may seem like a confusing task, but if you consider just these five most important items you and your agent will both find that you are a Savvy Buyer! These items are your KEYS to picking a policy that’s right for you:

1. The Insurance Company’s Rating

Ask your agent for the Company’s A.M. Best rating. If the company is highly rated at this national rating registry, then the company will have literature showing their rating with an explanation of what it means. Choose only companies that have an A or A+ rating.

2. The Insurance Company’s Record of Complaints at your State Board of Insurance

Every large company will have some complaints. Avoid companies that have a high number of unresolved complaints. Ask your agent for the phone number for your State Board of Insurance. If he will … Read More

Medicare Supplemental Insurance Plans – Guidelines For Selecting Or Changing Plans

Medicare supplemental insurance plans provide coverage for expenses that are not addressed by the original Medicare program, Parts A and B. Some plans focus on “core benefits,” while other emphasize covering the deductibles and out-of-pocket expenses for outpatient care.

Although there are 12 different plans, not all of them are offered nationwide. Despite the fact that providers can sell all plans, they very often do not. This makes selecting a plan more complicated than it could be. You may be wondering how to select a plan and what to consider when going though your options. It is important to note that all companies offer similar, standardized plans.

Medicare is a compromise between what type of health care is needed for senior citizens and what the government can provide. Medicare supplemental insurance plans are the solution to these “gaps” in coverage. They cover items that Medicare cannot afford.

This includes the … Read More

Where Can You Get Affordable Health Insurance?

What is health Insurance

The main reason why you need an affordable health insurance is to help you plan ahead in case of unexpected costly emergencies. The only way you can accomplish this is to compare prices from most leading insurance companies and also choosing a health insurance plan that best suits you. Back in the days, getting a cheap health insurance plan was simply unaffordable. But these days, individuals, small groups, families and students can choose a health insurance plan that is best for them, e.g. like acquiring a help insurance plan that ensures that an individual suffering from any previous medical condition is not excluded.

Private health insurance plan is totally an unrestricted open market, so those who do not yet have a health insurance plan should consider taking out a plan. For those who are seeking good medical health insurance program, having one is possible through the … Read More

Men and Medicare: What You Should Know

In the coming year, more than 1.6 million American men will turn 65. Discounts at restaurants, movie theaters and hardware stores await. Awaiting, too, are new options regarding healthcare coverage that their parents and grandparents never had the luxury to consider.

For past generations turning 65 meant obtaining healthcare coverage through Medicare and the only real decisions were whether or not to enroll in supplemental coverage and, if so, with whom? That all changed with the passage of the Balanced Budget Act of 1997, which allowed Medicare beneficiaries the option of receiving benefits through Medicare Advantage (MA) plans. (Many seniors had previously doing so via a series of demonstration projects that dated back to the early 1980s.) Those plans were augmented in 2003 with the landmark Medicare Prescription Drug Improvement and Modernization Act, which provides a prescription drug benefit for seniors and people living with disabilities.

MA plans provide all … Read More

Are You Buying The Right Health Insurance Plan? Read This

It is rightly said that necessity is the mother of invention. This applies to health insurance also. Deteriorating lifestyle patterns and the rising cost of health care in India has paved way for health insurance services. This need has further aggravated by the fact that unlike the West, the social security systems are non-existent in India. The governments have made all the provisions to extract tax from the citizens at all possible points but when it comes to health care and social security, it has not done anything at all.

Thus, it is the responsibility of the citizen to secure himself. But it is not that smooth to get the right health insurance policy. There are over two dozen general insurance companies which are offering different types of health insurance plans in India. Many times, people end up buying health insurance plans which are not relevant for them and which … Read More

What Most Vision Insurance Policies Cover

Almost as in the case of a car, eyes need to be periodically checked in order to ensure that our vision continues to work correctly. And, as with a car, visual care can also cost a considerable sum of money. Vision insurance assists people who have refractive errors (including those who suffer short-sight, hypertropia or astigmatism) and can help them reduce their expenses and allow them to plan eye care for the future.

Many people hesitate to buy visual insurance because they do not understand how they really work. Say, what should be covered and what doctors can you visit.

What is visual insurance? Just like dental insurance, vision insurance is a complement to the normal health insurance that covers routine care.

Insurance plans for vision reduces the cost of eye exams and routine treatments and help pay for small portions of important procedures of eye care.

Most plans require … Read More

Is Invisalign Covered Under Dental Insurance?

Did you know that orthodontic treatments, including braces and removal appliances, are the most commonly claimed medical procedures under private health insurance (based on information from the Australian Private Health Insurance Ombudsman)? That should assure you that your invisalign treatment can be included in your dental insurance cover. Take note that such coverage is only available in private health insurance.

How To Claim Your Invisalign Treatment

The fact that invisalign is a form of removable brace, means that it would be classified as an orthodontic treatment. In this case, the Australian Private Health Insurance Ombudsman (PHIO) provides a useful guide to help you in claiming this treatment.

The PHIO advices that you should get a written treatment plan from your orthodontist, beforehand. This is because various health funds must first determine your orthodontic benefits, based on the Orthodontic Treatment Plan.

A treatment plan normally includes such details as:

– Estimated … Read More

Pet Health Insurance: Is It Right for You and Your Pet?

I just got back from a visit to the veterinarian to have my three dogs get their scheduled booster shots and tests. I saw a sign at the vet for a Senior Pet’s Wellness Insurance Plan which would cover a check-up along with necessary tests and some preventative care. I did not think I needed this insurance but it got me thinking about ways I could possibly have saved money on my vet bills. It has not been an affordability issue, but with all the talk about health insurance it got me thinking about care for my pets as they get older and may face possible future health problems.

Taking care of your pet’s health is a responsibility just like taking care of your own health. Just like with you, you can choose a health insurance plan for your pet. There are so many good pet health care companies to … Read More

Small Employers Still Have a Chance to Save Money

The Affordable Care Act, also known as Obamacare, has confused many people lately. The massive increases for January 1st, 2017, has left many in a pickle. Employers are scrambling to find a solution, yet at a cost that could be as much as double their mortgage. This increase produces a financial strain on their family.

The problem is the is a lack of information in the marketplace. Many do not know where to go for the information. Their trusted advisor may not be clear on the options to do next. For Pete’s sake, even Google doesn’t give a clear answer. We tried asking Siri, but still empty-handed.

For 2017 health insurance renewal, some small shops received a 60% or more increase in their health insurance premiums for them and their family. Double-digit increases were crazy when they first started at 15%-30%. But now 60%?

Some business owners had to sell … Read More