Posts Tagged ‘medical insurance’

Health Insurance for College Students

Tuesday, May 25th, 2010

For those who are planning for a higher education, parents and students need to be aware that many colleges and universities now require students to have a health insurance plan in order to attend that school. If a school does not require it, you will often find that some majors and programs do, especially for those looking to study for a career in the medical field or working with children. High-risk programs that require some field study will also often require some kind of medical coverage. Some family insurance plans do have a provision for full-time college students attending accredited schools. This means the family can continue to carry insurance on the student until they are 18, 19, and sometimes up to 21 years old. However, at some point, the student is going to need their own coverage while they are still in school.

Schools

Some college and universities offer coverage themselves. Typically, students will e required to either purchase a policy from the school’s plan or provide proof that they are covered under an existing insurance plan. To be eligible for insurance from the school, a student must be attending part- or full-time and enrolled in a degree program. Students can also get coverage for their spouse and children with such policies.

Individual Coverage

For students who can not get coverage directly through their school, it is important to look for an affordable individual health plan. Students can often find these plans with discounts for college students.

Many student plans can also cover maternity expenses, psychiatric expenses and other medical expenses for an added cost. Medical insurance is a good thing for a college student. With the rampant frequency of illness and being on a campus with hundreds or thousands of other students, it is important to know you’re covered just in case. Paying for your own insurance is a great lesson in self-sufficiency as well.

Whether a school requires insurance coverage or not, a student should have it. It will help to save their health and will give their parents a little less worry.

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Obama, Healthcare Reform, and the Poor

Friday, May 21st, 2010

Obama’s plan for healthcare reform is making waves. On both sides of the political ticket, there are many who think it is a good idea, although each side has their own reasons why and what they think would work. Still, even if those in congress think this new healthcare plan is a good thing, regardless of their reasons, maybe they government should really ask the people who live in this country what they think of the plan. Some are all for it, some do not like it a bit, some are middle of the road, some are indifferent, and there is a small group that is a little bit scared. This group does not fully understand the new bill. They have simply heard that they will have to pay for health insurance or face penalties under the law. They know that health insurance costs a fortune and for the poor, even cutting the cost of health insurance does not ease the burden of the idea of trying to afford more than one’s limited budget allows.

The Poor Can Breathe a Sigh of Relief

When you’re poor, low-income, living on a fixed income, you typically get a routine going with the bills and that is that. You know you’re going to be broke when all is said and done, but you are used to, got the hang of things every month and at least you have what you have. For the poor, we are happy with just that. However, let someone throw in an unexpected or inconvenient expense, and that’s when the stress begins. Money does not grow on trees. You can not make a turnip bleed. Whatever cliche you want to use, the bottom line is poor is poor is poor, especially in today’s economy. We live with what we have and finding more is not very easy.

When it comes to the Obama Healthcare Plan, the poor can breathe a huge sigh of relief, and they do not have to wait until 2014 to do so. They can understand right now that there are provisions within this law that will both help them and protect them.

The Details

Healthcare reform is going to bring about some big changes in medical insurance. There will be state and federal “markets,” open to all citizens for purchasing the insurance coverage they need. For those who can not possibly afford a policy, government subsidy will be available. The new plan will bring new and strict regulations with it and will make it easier and cheaper for Americans to obtain health insurance and for those with pre-existing conditions not to face denials and exclusions.

If you lose you job or your income is cut, you can apply for the subsidy and for financial hardship that will keep you from facing the tough penalties for not being insured. If your income is low enough that you can not even file an annual tax return, the government says you won’t be subject to the mandate. In that case, you will likely keep your state medical assistance or Medicare. If the cheapest plan available is still more than 8% of your income, no problem, the government is not going to hold you to it. The subsidy will be there to protect you in this case as well.

These subsidies allow you to purchase affordable insurance so you will have medical coverage without having to pay the expense out of your own limited funds. This applies even if you’re employer offers insurance, but you just can not afford it (poverty level and  income guidelines apply).

Penalties

For those who could still face the mandates and associated penalties, the good news is that these penalties will be adjusted based on the cost of living. The penalties will not exceed 2.5 percent of your individual or total household income.

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Why Travel Insurance Just Might be a Necessity

Friday, May 7th, 2010

If you’re planning a vacation or once-in-a-lifetime adventure, planning for the unexpected should also be a part of your pre-trip preparation. Many people skip the travel insurance, either failing to think about it or feeling it is simply an unnecessary added expense. Why get it if you may not use it? Well, “may not” is precisely the point. The opposite of “may not”? What if?

There are plenty of good reasons to carry travel insurance on your journey. If you need it, you’ll be glad for the added expense, especially considering the money you’ll be out and the creek you might find yourself rowing up without a paddle should you not have access to the coverage and assistance of travel insurance.

But I have Other Insurance to Cover My Needs

Maybe. Maybe not. Check your policy. Your current medical insurance and other coverage may not extend as far as you are going, may have clauses about overseas care and travel, etc. Besides, your current coverage probably won’t cover other things that travel insurance will, such as assisting you with finding American or English speaking translators, guides and doctors, should you need one. What if your luggage is lost, plans are canceled or waylaid, etc.? Travel insurance has more benefits than most people realize.

Now, your current policies might cover personal property or liabilities anywhere in the world. But ask your insurance company or companies about this. You do not want to pay for what you do not need, however, where these current policies fall short, you will want to shop around and opt for travel insurance that does meet your needs.

Options

Talk to a travel agent, look online and seek out companies that offer travel insurance. Many offer a slew of packages to fit every need and budget, from the basic to the comprehensive. Between your current coverage and added travel insurance, you will be protected from the unexpected. Travel insurance is a great idea in the event of accidents, loss, diseases, evacuations, rental car damage, cancellations, dental care, illness and more. Even if it seems like a hassle and just one more expense, it’s better to be safe than sorry. When it comes to travel insurance, if you plan to take off somewhere and have the time of your life, never leave home without that added protection.

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Scammers Taking Advantage of New Healthcare Bill

Friday, April 9th, 2010

As always, where there is a mandate or cause that makes the American people vulnerable, there are some snakes lurking in the shadows, waiting to slither in and take advantage of that vulnerability.

Such is the case with the new healthcare bill coming into effect thanks to the Obama Administration. While this new healthcare plan has both its good points and bad points, the last thing any of us need on top of that is some shady salesman knocking on the door, offering a deal that sounds too good to pass up and finding ourselves up the creek in the long run.

The Scoop

President Obama’s healthcare plan, one in effect, will require all Americans to carry some form of medical insurance, whether it be through government help or through employer or private pay. While it may seem somewhat inconvenient for some, this law guaranties medical coverage for all Americans, which has been sadly lacking for years, and will ring some major changes in insurance itself, such as the inclusion of preexisting conditions. Unfortunately, the elderly and the currently uninsured are the most vulnerable at this point and have become the targeted prey of lowly insurance scammers.

These con artists are already at work, creating bogus insurance plans to fool the most vulnerable people out of their money. These scams are popping up in the form of insurance plans that are said to be created as a result of the new healthcare. They sound enticing, with all the right wording and offers, but are sadly lacking and will leave the consumer empty handed.

Be on the Lookout

The government is already issuing alerts waring consumers to beware of scams that are popping up. It’s hard to always tell a scam from the real thing, but remember, if it sounds too good to be true, it most likely is. The new healthcare law might be bringing some changes to insurance policies, however, it doe not facilitate a need for complete rewrites of policies. Be on the lookout for those claiming the plan is a result of, or necessary because, the new law. Also listen for plans claiming limited enrollment periods. Reputable insurance does not have a buy it now or else provision. As for benefits, there will be improvements with the new law, but they’re not likely to be huge changes from what we have now, at least not enough to change the polices.

Don’t be afraid to talk to these schisters. Be aware and take note of what they are saying. Do not get reeled in though, and if you do suspect a scam, be sure to feign enough interest to get information to contact the person and then report them to your state’s attorney general. These people can not be allowed to get away with using the healthcare law for their ill-gotten gains!

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Health Savings Cards vs. Insurance

Thursday, April 1st, 2010

“Your entire family is covered for just $69.95 per month!” When you first see or hear these ads, they sound terrific. You’re thinking “Wow! That’s cheap for medical coverage!” as soon as you start to feel excited and are considering signing up, you either read the small print or hear the voice that ends the commercial, telling you that what you have just heard about is, in fact, not an insurance plan. This is overly concerning.

These ads that most of us see and hear pretty often are for health savings cards. No, they are not medical insurance. Yes, they offer what seems like a great deal, but what is the difference? Can a savings card plan really save you money? Are you better off with a health insurance plan?

Savings Cards

Many people make the mistake of thinking that medical savings cards are the cheap alternative to health insurance. These plans are designed to save you and your family money on your out of pocket medical expenses. Some plans are exceptionally enticing, as they offer you discounts not only on visits to your doctor, but also on prescriptions, dental, and vision exams as well. That all sounds wonderful? Right? Of course, you will have to find participating providers for each of your medical needs, and you will be 100% responsible for all costs beyond the savings

You’ll definitely save some money out of your own pocket, at least on each visit. On average, you’ll pay $15-$25 less on a doctor’s visit. On medications, you could save as much as 60%. Other products and services will come with substantial savings too. At least it seems that way when it’s all laid out before you. You think you’ve gotten a good deal, but have you really?

Insurance

With health insurance plans, it may cost you a little bit more per month, and you will typically need to choose a network provider. However, you are fully covered on almost everything your plan offers, although some procedures might require you to pay as much as one-half or a certain percentage of the cost, depending on your particular plan’s terms. Other than that, the only out-of-pocket costs you will incur are co-pays for your medications, procedures and doctor’s visits, which are minimal, even compared with health savings card plans.

What to Choose

It all depends on you. If you can afford to pay some extra expense out of pocket, then a health savings card might work for you. However, this is really a better idea for a fairly healthy person who needs very little medical care throughout the year. That is, if you were to choose this option alone. For a family or someone with a lot of medical needs, insurance is the better option. However, you can get in on the best of both worlds if you are willing to shell out the money for both your medical insurance pan and a healthcare savings card plan. If you can find a card with participating providers that correspond with your medical insurance providers, you can use the card to save on your out-of-pocket expenses beyond what the insurance pays. That’s what these cards are really designed for, and that’s where the “good deal” comes into play.

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When to Consider Extra Medical Insurance with your Travel Insurance Policy

Wednesday, December 30th, 2009

The next time you set sail on a luxury cruise, consider what you would do in case of a medical emergency. In particular, consider if your medical insurance will cover your expenses.

Will your medical insurance cover the cost of medical evacuation, emergency treatment and a hospital stay? Well, in the case of cruises and other overseas trips, don’t bet on it.

In fact, as soon as you exit a U.S. port, you are more than likely considered to in overseas waters, which means that your U.S. medical insurance won’t get you very far.

Planning Ahead

Take a recent example of an older couple (in their mid 70s) who were traveling abroad when the husband became seriously sick with a perforated colon.  After the initial emergency room visit, the couple decided to arrange for a medical evacuation from their cruise ship to a United States hospital. The total cost of their out-of-pocket expenses was just $300. However, if they didn’t think ahead and purchase comprehensive travel insurance they could have wound up paying a medical bill of over $20,000.

A good, comprehensive travel insurance policy should include medical services and hospitalization, particularly when traveling abroad. These additional medical services are designed to reimburse any expenses that your standard medical insurance does not. Comprehensive travel insurance is also designed to cover the cost of your trip or part of your trip if you are not able to enjoy it due to an illness or injury.

If you plan to travel abroad and you don’t need full travel insurance, you may also secure a stand-alone policy that covers medical care and medical evacuation. It is important to realize that standard travel insurance policies do not cover the cost of medical evacuation, so consider adding this practical policy onto your travel insurance policy.

Before departing on your next overseas holiday, remember the following:

  • Contact your health insurer and ask about their coverage while traveling abroad.  Once you have this information you can then determine how much coverage and which type of coverage you will need.
  • Check travel insurance websites and compare policy prices and coverage. There are also several websites that allow you to compare a variety of travel insurance policies, side by side, according to prices and benefits.
  • Once you have purchased travel insurance, keep all information related to your policy, as well as important phone number of the company, close at hand while traveling.

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