Posts Tagged ‘health insurance policies’

Practical Ways to Save on your Health Insurance Expenses

Friday, February 5th, 2010

Many Americans, given the skyrocketing cost of health insurance, are now seeing higher deductibles and more out-of-pocket expenses. It is because of this that we all must do what we can to save on our health insurance.

The following tips can guide you when looking for practical ways to save on your health insurance expenses:

  • Read and re-read your health insurance’s policies regarding pre-approvals. Many times, individuals do not go through the proper channels and seek pre-approvals from their insurance companies, only to find out that a very expensive procedure or treatment is not covered under their health insurance policy. Although not all health insurance policies include pre-approvals, those that do typically include very specific language on getting preapprovals for procedures ahead of time.

  • Carefully read any and all correspondence that comes from your health insurance company. This includes bills, explanation of benefits and itemized deductions for hospital stays and doctor’s visits. It is not uncommon to find mistakes when it comes to billing, so you may very well find mistakes that otherwise could have cost you big. If you don’t understand something, immediately contact your health insurer and ask for an explanation or clarification.

  • Carefully read your Explanation of Benefits from your health insurance company and compare them with your statements. Pay close attention to the amount that your insurance company pays and the amount for which you are responsible. More importantly, if your health insurance has been denied, ask for an explanation from your health insurance company. Many times, individuals simply pay their health insurance bills without asking questions. These oversights can end up costing you hundreds - perhaps thousands - of dollars in out-of-pocket expenses!

  • Don’t be afraid to ask for discounts on your doctor’s visits and prescription medications. Many times, your doctor may offer you discounts on services, particularly if you have high deductibles. If your doctor prescribes a medication, ask for any free samples, and always ask if the medication your doctor prescribes is available in generic form.

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Why Women May Require a Unique Health Insurance Policy

Friday, November 20th, 2009

As men and women undoubtedly have differing health concerns, risks, and needs, many experts suggest that women particularly take advantage of key strategies to find optimal coverage to maintain their health.  With issues ranging from gynecological care to potential maternity coverage, women must actively seek out policy features that align with their personal reproductive plans and goals.  As some policies offer greater contraceptive coverage benefits, while others provide individuals with more substantial labor and delivery compensation, women from all different backgrounds, ages, and agendas should personalize their plan to ensure their policy offers the most ideal benefits and protection.

Evaluating Fertility and Family Planning

Before investigating various insurance policies and options, women can begin to proactively assess their needs by evaluating their personal family and reproductive goals.

Women who plan to have children will need to take advantage of key insurance features such as:

  • Lower office visit deductibles - Since a woman’s pregnancy demands frequent checkups and routine visits, opting for a lower co-pay can help women avoid excessive appointment costs.
  • Post-delivery coverage and protection - After delivery, infants are often at risk for minor illnesses and infections. As such, a woman’s health plan should offer adequate coverage for prescriptions, examinations, and other common health concerns.

Women who have decided not to have children (either in the short term or long term), may need to find health insurance packages with more diverse features, such as:

  • Contraceptive coverage benefits - If a woman is sexually active but does not wish to conceive, then she will need to speak with her doctor about reliable methods of birth control. With a variety of choices, women can opt to undergo permanent procedures, take hormonal oral contraceptives, or utilize other methods of protection. Ideally, a policy should allow women to take advantage of her own preference or doctor recommended method; similarly, prescription co-pays should be kept to a lower rate, as contraceptives often require monthly refills / payments.
  • Health and disease screening - While all women are at risk for various types of cancer or viruses, women who are not pregnant and / or do not have kids undergo far fewer checkups than women opting to bear children. As a result, a health insurance package should allow women to meet with their OBGYN for routine breast, cervical, and general health exams. Additionally, women who are sexually active may also want to take advantage of sexually transmitted disease coverage options.

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Divorced and Uninsured? Take Immediate Steps to Protect Your Health and Well Being

Friday, October 9th, 2009

If you are currently going through a divorce or planning a separation, don’t neglect your own health and well being by ignoring responsible health insurance measures.  Specifically, if you and your spouse do not have children, then you may very likely wind up without health insurance coverage if you do not pro-actively find out how the divorce will impact your insurance benefits.

Uninsured Spouses of Divorce

If your soon-to-be ex-spouse was the primary health insurance carrier during your marriage, you have an array of options to protect yourself from the potential devastation associated with a loss of insurance.  Comparatively, as millions of Americans are currently un-insured, some individuals going through a divorce struggle to cope when neither the husband nor wife held health insurance coverage.  Whether or not your spouse was insured or uninsured is typically irrelevant; as individuals separating from their husband or wife can choose common pathways to protect their well being with temporary or reduced-cost health insurance plans.

The Steps to Health Insurance Protection Amidst a Divorce

  • Step 1 - If you are employed, ask your human resources representative if health insurance policies are offered through your employer.  If so, find out how and when you can receive coverage.

  • Step 2 - If you are not employed, or if your employer does not offer health care benefits, then find out if you can continue health insurance coverage through COBRA.  COBRA is considered to be a relatively affordable health insurance option for qualified individuals.  Generally, COBRA is a potential option for individuals whose ex-spouse formerly acted as the primary carrier of health insurance for their husband / wife.
  • Step 3 - If you are not eligible for COBRA insurance, investigate affordable emergency health insurance plans.  Emergency insurance plans, also commonly referred to as short-term health insurance policies, protect individuals from experiencing a lapse in coverage.  As a result, if an accident tor serious health emergency arises after one’s previous health coverage has been ceased, the emergency insurance will protect an individual from serious harm and loss.  Specifically, if you are employed and your employer can provide you with coverage, then emergency plans can protect you during the time your ex-spouse’s coverage ends until your new  (employer provided) coverage begins.

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Are Health Insurance Costs on the Rise for American Families?

Thursday, October 8th, 2009

According to the latest reports from Congress, President Obama’s health care reform proposal will require all Americans to carry up to date health insurance policies.  While the insurance can be obtained from an employer, through a private company, or from the soon-to-be created government-run program, many middle class Americans are worried about how these new demands will impact their overall costs.  Specifically, as lower income families will be provided with reduced cost benefits, as well as potential tax credits towards health care, individuals earning slightly above the low income range are growing apprehensive about whether or not the changes to health care will actually benefit their loved one’s well being.

The Reform in Progress: How the Middle Class May Be Impacted

While the health insurance reform is still a working progress, as changes are being made and revisions are added each day, investigators have found out basic information about where the reform currently stands.  In examining the current rough draft of the proposal, critics are specifically concerned about the potential challenges that reform could pose on the average middle class families:

  • An average family of 4 with an annual income of at least $63,000 per year is considered to be middle class
  • Some estimate that this average family would pay over an estimated $7,000 to purchase private health insurance
  • The estimated $7,000 does not take into account doctor co-pays and medical care costs
  • The estimated $7,000 does not take into account rare but not uncommon expensive medical procedures (such as surgery, emergency care, etc)

In examining these estimates, some members of Congress predict that the current health care reform plans would force middle class families to spend an average of 20 percent of their annual incomes on health insurance / health costs within the next 5 to 6 years!  Yet, in light of recent debates and concerns, experts are striving to remind all citizens, regardless of their “class,” that the reform is being carefully evaluated and altered continuously; optimistically, these potential detriments to the reform will be taken into account and altered before any bill is passed into law.

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