Health

If you're anything like me, you're fed up with high health insurance costs.The LetterEvery year, I get the dreaded letter in the mail from my insurance company saying how they appreciate my business, but rates are going up 10% again this year. Usually it's an increase of $70 or $80 per month, since we have a family plan.The truth is that my insurance company isn't necessarily "ripping me off," though it feels like they are sometimes. They aren't the only company raising rates each year. All health insurance companies are. They have to in order to keep up with medical inflation, and be able to cover my "possible" future medical expenses.Why is My Health Insurance Premium Increasing?Because the cost of hospital stays, medical equipment, and other medical services is rising, the insurance com...

As the saying goes, "If you don't have your health, you don't have anything". This next pillar of insurance planning, health insurance, seems to elude so many of us. In 2008, there were nearly 47 million Americans or approximately 20% of the population under age 65 without health insurance. Furthermore, thanks in no small part to the 2008-2009 recession and the resulting job losses that accompanied it, unemployment has been hovering around 10%. This high percentage of unemployment means that nearly 60 million people will be without health insurance coverage! This of course can be detrimental to your financial freedom.When searching for health insurance, keep in mind that "cheaper" is not always better. There are quite a few variables that go into making up your premium. Things like deducti...

A Medigap policy refers to Medicare supplement insurance. It is a private health insurance offered by the private insurance company with many benefits of health insurance plans. It is very good plan used to fill the gaps between supplemental original Medicare. Therefore, it is the most supportive option for keeping you safe and secure, and then you have to pay some of the health care costs that are not covered by original Medicare. Well, if you want to secure your life for long term, then you have to take it from private health insurance company.To protect your life successfully, you need to apply for some good plans that are beneficial for you, when you are not able to work. Today, reliable private insurance companies will provide you "modernized" or standardized "health care insurance pl...

From the Medicare Modernization Act in 2003, the Medicare Advantage program that we know today was born. These types of plans allow seniors and people eligible for Medicare due to disability to get health coverage from private health insurance companies. Private insurance companies offering Medicare Advantage (MA) plans are required to offer the same benefits offered by Medicare Parts A and B. Part A covers hospital insurance while Part B covers medical insurance. Aside from coverage on both in-patient and out-patient services, Advantage plans typically cover some prescription drugs as well. That is why these plans are sometimes referred as Medicare Part C. They combine Medicare Part A, B and often Part D coverage.Since MA plans have been available, they have become a popular alternative t...

When it comes to buying the apt travel insurance cover, people think picking the one with highest premium is the best thing to do. The logic behind this is that they assume high premium insurance will cover them against every possible risk and there would be nothing to worry about. Reality however is very different and one needs to be careful when buying travel cover. Below mentioned are a few tips that can help you taking the right decision.Shop as per your travel needs: If you are a person who travels frequently due to the nature of your business then annual travel insurance will be apt choice for you. This not just saves you from applying for travel cover every now and then but also saves a lot of your money. You are covered for a certain amount for the entire year and the premium amoun...

Health insurance costs are quickly chiseling away at the American income. The worst part is, that it's not letting up, and it looks like costs are going to continue to rising.*In the year 2003, health insurance premiums took around 15% of the average family's income. Back then, even that was too expensive. In 2010 that percentage has risen to nearly 20% of income. Many Americans have no choice but to take drastic measures to lower their health insurance costs.There are several options to lower your health insurance costs. As a health insurance agent, I've seen family's drop coverage altogether and hope for the best. I've watched parents go uninsured just to make sure they can afford coverage for their children. However, these options leave a family wide open to catastrophic financial ruin ...

The Health Insurance Portability and Accountability Act (HIPAA) and its Privacy Rules have laid a considerable amount of stress for protecting the personal information of an individual. Over the years it has made its guidelines more stringent and also prescribed civil as well as criminal penalties on the covered entities that violate its rules. But even HIPAA cannot take a one-sided view when it comes to the field of research which may be in conflict with several of the privacy provisions but is still required for many constructive purposes.The following points look at research from different perspectives with seemingly opposing provisions of HIPAA Privacy Rules.1. Importance of Research: Carrying on research on a continual basis is vital in any field but more so in healthcare because it i...

An income protection cover does exactly what the name suggests; it protects your income from unforeseen situations. These plans ensure that you can manage to run your household when you are either ill or have hurt yourself and need some time off to get better. Depending on the type of plan you select, the waiting period and the benefit period you will be given a number of benefits which you can enjoy once you file a claim.Some of the Many BenefitsAn income protection plan offers assurance that when you are ill or injured you will receive monthly compensation amount from the insurer. This type of insurance plan allows you to carry on with your daily life knowing that the selected insurer will help you financially when you are unable to work for a short while. An income protection plan also ...

The laws under the Health Insurance Portability and Accountability Act (HIPAA) whether they are related to privacy or other issues have been framed around the patients, with comprehensive provisions in place to ensure a continual insurance cover to individuals and also for protecting their personal information. These laws have to understandably be followed by those entities that posses such data.However the HIPAA laws try to be as balanced as possible by providing all the concerned parties with adequate rights for safeguarding their respective interests. In accordance with such laws even the covered entities enjoy certain rights from HIPAA. The most prominent among them are healthcare providers like hospitals, because maximum contact with patients and exchange of information takes place at...

The Patient Protection and Affordable Care Act was created by the Obama administration to improve the health care system in the United States. More specifically, it aims to reduce the number of people going without any form of health care coverage. One of the controversial mandates of the new health care reform law is the Medical Loss Ratio (MLR).What Is The Medical Loss Ratio All About?Medical loss ratio is the percentage of premium dollars spent on medical care and healthcare quality improvements versus administrative costs. Under the medical loss ratio mandate of the health care reform law, starting 2011, all insurance companies are required to maintain a MLR of 80 percent for small group and individual health insurance plans and 85 percent for large group plans. The remaining percentag...