Tag Archives: Cost
Great Health Insurance Advice That Won’t Cost An Arm And A Leg
Great Health Insurance Advice That Won’t Cost An Arm And A Leg
Health insurance providers are trying to make as much money from you as possible and often, the insurance policies that they offer can be difficult to understand. This article contains numerous tips that will help you to select a suitable insurance provider and purchase a health insurance plan that meets both your financial and medical needs.
Have your health provider bill your insurance company even if you have not yet met your deductible. This will let your insurance know when you have met the deductible and when they can begin paying benefits. Most plans are different, but in most cases office visits, prescriptions and lab tests are counted toward the deductible.
If you are looking for a health insurance plan, you should consult with several health insurance brokers. The reason for this is that there are many plans available to choose from and a broker will be able to provide you with a list of plans specific to your needs. Brokers may also have access to discounted health insurance plans that they can offer you. Consulting multiple brokers can give you access to a wider range of good offers.
Be aware that most cancers are not covered under a basic medical insurance plan – only the pre-screenings may be covered. There are other insurance plans out there that only cover cancer, but they may not be right for you. Determine if you have a higher risk for cancer, high risk would include: smoking, exposure to hazardous chemicals or waste, and age above 40.
It is absolutely necessary to have health insurance these days, because of the expense of modern medical procedures. Finding one that is reliable can be quite difficult. Don’t just go by cost. You should ask around and see which companies other people have had good experiences with because they are likely to know if their claims have been denied before.
To get good health insurance rates when you don’t get insurance through an employer, affiliate yourself with a group. Group rates are the reason the health insurance rates employers offer are often so much lower. If you’re self-employed, try the Freelancers Union. Seek out any options that might be available to make sure you get affordable insurance.
One of the health insurance options that may be offered to you during your employer’s open enrollment season is an HMO. You might want to choose this option if you want to keep costs low and are willing to coordinate your care through a primary care physician. Under an HMO, the number of options you have for choosing a provider may be more limited than under a more flexible plan.
Many people avoid buying health insurance, as it can be very expensive, but this can cause problems in the future if they fall ill. By applying the advice contained in the tips presented in this article when you next need to purchase or renew a health insurance policy, you can find a policy that is affordable and thereby, avoid the most common health insurance pitfalls.
The New Way To Lower The Cost Of Health Insurance
The New Way To Lower The Cost Of Health Insurance
It seems that every day there is an article about the rising cost of health insurance, the high number of people with no health insurance, and our system of financing medical care which is broken and needs repair or replacement.
What goes unreported is that since January 1, 2004 there is a new way to finance medical expenses which drastically reduces the cost of medical insurance when compared to traditional forms of health insurance. The name of this radical new approach to financing health care is: Health Savings Accounts, or HSAs.
Health Savings Accounts combine a health insurance plan that will pay medical expenses after a patient has paid a few thousand dollars for medical care. A unique feature of these high up-front (a “high deductible” in insurance-speak) medical insurance plans is that a patient can open up an IRA-like tax favored savings account to fund the deductible. When sick the patient can withdraw money from the Health Savings Account without any tax penalty.
Like a rainy day fund, a person on an HSA puts money aside in his/her own savings account in addition to paying a health insurance premium for insurance that will pay when a catastrophe happens. The HSA-compatible medical insurance plans are less expensive than most other health insurance because they only begin to pay for treatment after a patient has incurred several thousand dollars worth of medical bills.
The combined cost of the low cost medical insurance plan and the HSA savings component are likely the same or less than the cost of a traditional health insurance plan which begins paying medical bills immediately. The big savings in HSA plans are threefold:
1) The money invested in the HSA savings vehicle stays in the pocket of the insured person until used to pay qualified medical expenses;
2) The money deposited into the HSA savings account is a deductible expense from Federal income taxes – also many states allow income tax deductibility for HSA contributions; and,
3) An insured person pays less for health insurance to an insurance company.
Most people only care about the cost of health insurance when they have to pay the premium (i.e., monthly payment for the insurance.) This applies to individuals and families who purchase their own policies and also companies which purchase health insurance on behalf of employees and their families. HSAs make the most sense for these people – since every dollar they save on premium stays in their pocket.
HSAs offer a unique feature to employers: they can partially or fully fund the HSA savings account for employees covered by a compatible health insurance plan. Employees can also make tax deductible contributions to their own HSA account – up to the maximum allowed by the IRS.
So, an employer who may save 0-0 per month per employee could contribute -0 pre month to an employees HSA account, get a tax deduction and still spend less money in total for health insurance than they would spend on a traditional health insurance plan for their employees.
The employees like this arrangement because any money deposited into their HSA account become theirs immediately (i.e., the vest immediately.) The immediate full vesting for the employees also helps those companies with no retirement accounts (e.g., 401k plan.)
Money in the HSA accounts can be used for non-medical expenses at age 65 with no tax penalty. Many employees see this as an opportunity to accumulate a lot of money for their retirement – assuming they stay healthy. If they become sick the money is there to pay for medical expenses.
HSAs – the new way to reduce the cost of financing medical care.
Low Cost Family Health Insurance – Some New Trends That Will Save You Money
Low Cost Family Health Insurance – Some New Trends That Will Save You Money
Is there such a thing as low cost family health insurance? If you listen to the news and read all the newspapers then I am sure that you are already convinced that health insurance is no longer affordable. There has been an upward trend in the cost of health insurance. The cost for doctor and hospital services is always on the increase and so the cost of health insurance will rise accordingly. This should not surprise any of us who understand basic economics.
Insurers understand this problem and are making every effort to find creative methods to lower health insurance premiums. The health insurance shopper has to take a different approach. There are many ways to fine-tune a health insurance plan without losing the desired benefits. The smart shopper will look into the new approach to purchasing health insurance and reap the benefits.
Self-Insuring
There are advantages to the consumer who can grasp the concept of self-insuring. Self-insuring allows you to lower your health insurance premium by taking responsibility for the deductible amount. Deductibles are examples of self-insurance. Health insurance deductibles can range from 0 to 00 with some major medical plans. The amount of the deductible should be determined by your ability to self-insure for the deductible amount.
Health Savings Accounts
This kind of savings account is like having a medical IRA. You can set aside money in a savings account for future medical expenses. The health savings account is a great way to fund the higher deductible. The tax-deductible feature of the Health Savings Account makes it very attractive.
The average consumer spends way too much time choosing between PPO (The Preferred Provider Organization Plan) verses the HMO (The Health Maintenance Organization Plan). The real cost savings issues are found when we concentrate on the plan design. That includes the deductible options, vision care, dental care, and prescription drug options.
How To Compare Low Cost Car Insurance In Oregon
How To Compare Low Cost Car Insurance In Oregon
Everyone wants to save money on their car insurance, Oregon drivers possibly more than most other drivers. The reason for that is that Oregon drivers pay some of the highest car insurance rates in the country.
If your car is being financed by a bank or other financial institution you may have only limited choices when it comes to comparing low cost auto insurance, but by comparing the rates offered by a variety of companies you can still save money – the rates offered for the same policy by different companies can vary by several hundred dollars a year, so taking the time to make the comparison can really pay off.
Start by writing down how much of a deductible you can afford to pay in case you have a claim, and what coverage amounts you will need based on the age of your car, and the area where you live. If you live and drive in an area with a lot of new and very high-priced cars you may wish to take out higher Collision limits than you would if you normally drive in an area where most people drive older models. If your car is over 5 years old consider taking out the lowest amount of Comprehensive coverage offered – or even dropping comprehensive coverage altogether.
Once you know what coverage amounts you are comfortable with, get online and find one of the many sites that allow you to quickly and easily compare auto insurance policies and premium costs.
Be prepared to answer quite a few questions, including questions on your driving history (accidents and tickets within the past 5 years) and even questions on your credit history before you can get your quote comparisons.
Consider the time spent getting rate quote comparisons as an investment in lowering your future car insurance premiums – the more of an investment you make today, the greater your savings will be for years to come.
How To Compare Low Cost Car Insurance In Massachusetts
How To Compare Low Cost Car Insurance In Massachusetts
Car insurance here in Massachusetts is simply a fact of life if you want to drive on any state roadway. But that doesn’t mean that you need to pay any more for your car insurance than you absolutely have to.
Let’s see if we can find one or more ways for you to compare low cost car insurance here in Massachusetts and save money on your car insurance each and every month.
Can you keep your car in a garage at night? If you can your agent needs to know as garaging your car will save you money month after month.
Can you drive less? Many people are now using public transportation whenever possible and leaving their car at home. If you can lower your driving down to under 500 miles per month you may qualify for a Low Mileage Discount.
If you’re truly serious about finding low cost car insurance then you’ll have to keep your driving record spotless. That means no speeding tickets, no moving violations of any kind – and certainly no DUIs or DWIs.
A portion of your premium is probably based on the fact that you drive to and from work each day. If you could carpool and cut your rush-hour driving you should also cut your car insurance premium. And if you should stop working altogether you definitely need to let your agent know as this could save you quite a few dollars each month.
Each year your car loses some of its value. That means each year you should decrease the amount of your collision and comprehensive insurance to match the decline in your car’s value.
If you have several different types of insurance policies it pays to consolidate all of them with one insurance company. In this way you will get a multi-policy discount on your car insurance.
Ask your agent if your insurance company offers a discount for purchasing (and using) a steering wheel locking device or for installing a simple and inexpensive device that disables your fuel pump until you press a hidden button each time you start your car. Ask about other anti-theft devices as well.
Younger drivers can get a 5% or greater discount if they simply stay in school and get a “B” or better grade average. Older drivers may qualify for a 10% discount if they pass a special driver’s refresher course – check with your agent as not all companies offer this discount.
What about your deductible? If you increase your deductible you decrease your monthly car insurance payment. But be careful! Whatever amount you set as your deductible represents cash that you have to come up with in case of a claim. Don’t agree to pay more than you can afford!
Lastly, get online and find 3 of those sites that let you compare the prices of car insurance from various insurance companies. Make sure you fill out the forms on 3 different websites and make sure that you fill out the forms exactly the same way on each site. This way you’ll not only be certain of seeing quotes from all of the insurance companies operating in Massachusetts, but you’ll also be comparing the same policy on all 3 sites.
The rest is a snap. Just look at your results and pick the best price! And that’s how to compare low cost car insurance in Massachusetts and come out the clear winner!
How To Compare Low Cost Automobile Insurance In Washington
How To Compare Low Cost Automobile Insurance In Washington
If you live in Washington State you’ve likely heard of the 25/50/10 coverage. This is reflective of the minimum amount of liability coverage you are mandated to have under state law. Most individuals see the value in having more but it comes at a cost. Finding the best insurance at the lowest price possible is the primary goal of any motorist.
Some tips that may prove fruitful when it comes to comparing insurance policies are:
•If a company gives you a quote that is well below any else, do some research. It’s important to check to ensure that the agent and the auto insurance company are licensed to do business in the State of Washington. You don’t want to get involved with a company that is operating illegitimately.
•Stick to your guns when asking for quotes. Many agents are very persuasive and will try and convince you that you need additional coverage. Ask for a quote for a specific amount of coverage from each agent and don’t be swayed.
•Ask about the accident procedure. Some insurance companies that offer low rates don’t offer the much needed support required after an accident. This can be a highly traumatic time for the policy holder, so you’ll want an agent who will be there for you.
•Inquire about having your policy renewed yearly as opposed to every six months. This can help by locking in a lower rate for a longer period of time.
Even though price is almost always the bottom line, the service provided comes a close second when it comes to automobile insurance. When asking for quotes take note of how the agent pays attention to your questions and requests. This can often be a good indicator of the type of service you’ll receive in the future.