Health Coverage (5)
Everyone is concerned about their health and when an illness occurs, people want to make sure they receive the best health care that is possible. There are many different types of health coverage available and it can depend on how much you want to spend and whether you have any pre-existing medical conditions.
Single Health Insurance
Written by Investor JimThis does not happen in the United States alone. In the year 2007, Swiss people rejected the idea of having a single health insurance for the reason that the premiums would be based on the salary and wealth of an individual. Both countries are pointing to one thing: that single health insurance adds more cost, yet produces no value for the citizens. When people fail to pay for their premiums on a monthly basis, they lose their insurance, thus when the time comes that they need immediate health services, they are no longer covered. For those who get the chance to keep their insurance, their choice of doctor, treatment and even hospital is quite limited. What can possibly be done about this? Expand the Medicare program and improve its coverage such that everyone is entitled to it. It is also proposed to eliminate private insurance companies.
You’ve definitely heard of Expanded and Improved Medicare for All Single Payer National Health Insurance, where you get an automatic enrollment and a health card. In addition, you are free to choose your doctor and hospital, and your public agency is the one processing the bills for you. This way, a lot of money is cut from hardware and software costs, since healthcare providers submit claims to only one agency, thus lowering down the cost of insurance. Now use it to your fullest advantage. Make sure that you have your regular annual check ups in hospitals so that you utilize this insurance for your maximum benefit. A healthy U.S. citizen helps a lot in sustaining a stronger economy. So make sure you keep yourself healthy and strong as well.
Another news that we should also think about is this. A bill was proposed in the US Congress recently regarding a health reform that requires employers to provide health insurance to workers based on 8% of their pay-roll. This may be carried out by most large companies, but for small businesses, this may predispose them to shutting their doors. For someone who cannot afford private insurance coverage, this one may be beneficial to you. But for some small companies, this may equate to possible closure, thus additional decline in the national economy. These large issues nowadays, specifically the ones about single health insurances are faced by the labor sector and the government. Now it is up to you to go for this bill or not. Who knows? It may just come out better.
HSA Health Insurance
Written by StrathyFirst, it is extremely important that you makes sure that you enroll in an HSA health insurance. This will insure that you are covered if an unexpected illness or injury ocurrs. It is also important that you know that you need to first cover your deductible. When you are investing in your HSA health insurance make sure that your deductible has been covered. Many people just put what they can afford back and don't realize that they forgot to cover the deductible.
Make sure that you cover any and all fees that may be associated with the setting up and maintenance of your HSA health insurance as many banks charge a set up fee and often times there is a monthly fee to maintain it. Many people will tell you that HSA health insurance is the better option as it eliminates the insurance companies from dipping into your pocket and taking money that you worked hard to earn.
When shopping around for a bank to start your HSA health insurance plan, make sure that you look thoroughly into the interest rate. The last thing that you want to do is feed money into an HSA health insurance plan that when you need it will be of no use due to the fees that ate up your savings.
Hopefully by now you have a little bit of a clearer picture as to how HSA health insurance plans work and will be able to enjoy one of the many benefits that this type of plan offers it's investors.
Catastrophic Health Insurance Plan
Written by AprilUnfortunately, not everyone is lucky enough to have health insurance coverage. This might be because their employer doesn't offer it or perhaps they simply cannot afford to pay for it themselves. One thing is for sure, not having health insurance is a very big worry to people. What happens if you end up in an accident or come down with an illness that requires massive medical bills? You may not have the funds to pay for it.
This is where catastrophic health insurance (also known as “major medical insurance” comes in. It's certainly not the perfect health insurance but for many it's the best option available to them. Basically, this type of insurance is all about having a high deductible but a low monthly premium. The amount you spend each month will radically vary as it is dependant on a number of factors.
If you choose a policy with a low deductible (eg $250) you can expect to pay a lot more than someone with a deductible of $10,000. This is all down to how much of a risk the insurance company views you. Generally you'll find that insurance companies pay out on things like x-rays, lab tests, surgery and intensive care. Catastrophic health insurance is just that, meaning if you want weight loss surgery, dental implants or IVF you won't be covered. It's really only for people who need urgent treatment to save their life.
Another interesting thing is that if you are on a high deductible plan that comes under IRS definitions then you can put money in a savings plan called a Health Savings Account (HSA) so that you can pay for any medical expenses plus that money is also tax-deferred.
Be careful, if you think you will be pregnant any time soon, you might not be covered by your catastrophic health insurance. So talk with your insurance company and find out if they have any particular stipulations when it comes to pregnancy and maternity care.
Time and again, catastrophic health insurance is taken out by those who are young and self-employed or don't have insurance with their job. Also, people who are older but don't qualify for Medicare. Healthy people who rarely suffer from any illnesses will often take out this insurance as they would rather pay for the occasional doctors visit than to be paying high premiums every month.
Unluckily, if you haven't been so fortunate with your health you might not be entitled to major medical insurance because you'll be seen as too high a risk. So if you've got diabetes, MS, heart disease etc then you'll have a hard time trying to track down any company who will insure you.
Medical Insurance For Pregnancy
Written by Investor JimEvery pregnant woman wants this 9-month period to be one of the happiest times in her life. However, the sheer cost of giving birth could force someone planning a pregnancy to think twice – maybe thrice – about it. This is why it is best to obtain a medical insurance with pregnancy coverage early on. This is advised because not only does processing take a long time, about half to a full year, but women who are already carrying a baby have extremely minute if not zero chances to get insurance that would cover their current pregnancy. This could spell a 5-digit hospital bill excluding other maternity-related services like check-ups and vitamins. Obtaining medical insurance for pregnancy could greatly help with this.
For couples looking to start their own family, the best maternity insurance providers are United Health Care, Humana, and Blue Cross Blue Shield. Those who already have health insurance should read through the policies again to know if it covers pregnancy expenses or not. If it does not, get a maternity insurance right away. If it does, make sure that it covers more than hospital fees. If this is not the case, it is recommended that supplemental pregnancy insurance be obtained. Another option is to negotiate with the present health insurance company a rider to be added to the policies that will cover maternity expenses besides hospital bills. Speaking with an independent health insurance agent is also advisable because they can give proper guidance as to which company has the most beneficial policies.
These additions of course also include additional fees. But the benefits and savings that these additions will bring strongly outweigh whatever additional fees they come with. Couples or individuals who want to save more can look into alternative birth plans. If one is sure to have a normal delivery, a birthing center is a good place to do so. They are way cheaper than delivering in a hospital. At least $1000 can be saved. For uninsured pregnant people whose income is on the low side, try seeking for support in state-sponsored programs like Medicaid. They are all over the country and so are easy to contact. Another option is to join maternity discount programs. There are several companies online that offer this service.
It only takes a small joining fee and a membership fee every month after that and one can already have big discounts on anything pregnancy care-related including other medical needs that the expecting mother has like dental and optometric check-ups. If one opts to go with this option, great caution should be exercised when choosing which service to avail of. There are several out there that sound really good with their big claims but in reality are just after people’s money. A few extra minutes of research can unearth crucial reviews about these discount programs. One of the legitimate providers is American Health Benefits. They offer members 20-45% discounts on any procedure that a pregnant mom has to undergo. They are also certified by the Better Business Bureau (BBB) so it is fairly certain that they can be trusted.
Pregnant women experience all sorts of things. Some of these concerns are pregnancy-related; others are not. The growing bump does not make them immune to other things such as cavities or sprained ankles. Unless the fetus has special healing powers, an expecting mom with a broken bone will need medical attention and she will need disability insurance to cover for that. Unlike other insurance that shy away from currently pregnant women, disability insurance is fairly easy to get even if one is presently carrying a baby. However, most of these have riders that specify that the only coverage an applicant would get is for a disability that is not related to her pregnancy. If she experiences tremendous morning sickness (and every pregnant lady knows that this does not only happen in the morning) and could not go to work because of that, her disability insurance will not cover for it.
A working expecting mom is advised to discuss with her employer the disability insurance that the company offers. This should include coverage for pregnancy and other pregnancy-related disabilities. She has the right to be treated like any other co-worker who happens to be disabled at the time. The Pregnancy Discrimination Act is a federal law that prohibits employers from treating pregnant women differently from any other employee. If the company offers compensation to a disabled employee while on a disability leave, then the company is required to do the same for a pregnant woman with a pregnancy-induced disability on leave. This equal treatment can also mean holding an expecting mom’s job for her while she is on leave.
The best time to get a disability insurance for pregnancy (or any other insurance for that matter) is before one gets pregnant. This is because a lot of complications could arise from a pregnancy so a woman in such a situation is considered high risk and can therefore be legally turned down by most insurance companies. This might not be a helpful statement but it is true. One is better off prepared than get desperate when a time of need comes. A lot of companies out there prey on women in such a situation. They claim to offer discounts (not insurance) on medical bills and some other pregnancy-related fees. Examples of such scams are Maternity Advantage by Affordable Healthcare Options (AHCO) and Ameriplans. These claim to have the biggest network of healthcare providers yet when a member uses the card, she gets turned down and ends up paying for everything herself plus the membership fee.
Disability insurance for pregnancy is very helpful to pregnant women. Since not all companies offer compensated maternity leaves, and a pregnancy-related disability like mandatory bed rest orders from a doctor could start a maternity leave early, this insurance will cover at least part of the lost income. A pregnant working mom needs all the monetary support she could get with all the essential doctor visits and the fees that go along with those. It should be noted though that company-sponsored pregnancy disability insurance may need some documentation like doctor’s signature or note before the coverage could take effect.
