30th April, 2010 - Posted by Admin - No Comments
If you’ve found your way here, you’ve no doubt decided you need to purchase a new insurance policy or add to your existing level of insurance. It can be a little confusing deciding just what you need. So let’s cover some of the most popular types of insurance.
Critical Illness Insurance
Heart disease, stroke and cancer are just a few of the critical illness that bring a chill to your spine when you are diagnosed. The good news is that with the advances with modern medicine many illness that even recently were almost always fatal can now be treated and life goes on as normal. However, in a worst-case scenario, critical illness insurance helps you cope with the expense of your illness while you are treated and helps your loved ones to go on unencumbered by the financial burden left by a long illness should you lose the battle.
Disability Insurance
One of the most popular forms of supplemental insurance, Disability Insurance pays you a percentage of your income as a benefit should you become disabled. You use these benefits to help with out of pocket expenses not covered by your major medical policy and to pay your household bills while you recover from a temporary disability or a lump sum payment or a life long benefit in the case of a permanent disability.
When shopping for a Life Insurance quote, Term Life Insurance and Whole Life Insurance are the two most popular choices. Let’s explain each of these:
Whole Life Insurance
When shopping for a Whole Life Insurance quote you will find that, the policy remains in force during your entire lifetime as long as the premiums are paid. The type of life insurance also builds what is commonly called a cash value that you borrow under certain circumstance after a period of time.
Term Life Insurance
When shopping for a Term Life Insurance quote keep in mind that this insurance will cover you for a specified time only such as five years. Your premiums do not increase during the term of your policy but will likely increase once it is time to renew the term. Term Life Insurance does not build a cash value.
Term life is generally cheaper if you are younger in age and a good starting point for a safety net for a young family until you’re ready to invest in long-term whole life insurance.
Now you’re fully informed to make the right choices as to just what new or additional insurance to choose for yourself and your family.
23rd April, 2010 - Posted by Admin - No Comments
Ohio residents are afforded certain protection when buying health insurance from a state licensed insurer as a result of standards put in place by the Ohio Department of Insurance. Below are some of the standards you should be aware of when buying insurance:
Alcohol Treatment : There must be at least 550 per year in alcohol treatment whether inpatient or outpatient
Mental Illness : On an outpatient basis, there is a requirement for 550 per year for treatment. This applies only if the policy covers in hospital treatment of mental illness.
Kidney dialysis : If an insurer provides coverage for dialysis in a hospital, it must also provide the same coverage for dialysis on an outpatient basis.
Specific practitioners : Health policies in Ohio cannot discriminate against particular health professionals. It must pay any licensed professional who legally performs a service. This includes Chiropractor, dentist, nurse-midwives, Mechanotherapists, osteopaths, Optometrists, Podiatrists, Psychologists
Generic drug use : If a policy covers prescription drugs, it must pay for any legally approved drug prescribed by your doctor even if it has not been approved by the government for treating your particular medical problem or disease.
Pregnancy and Maternity : Insurance companies do not have to offer maternity benefits, However, when it is provided, it may never be considered a pre-existing condition. Although, under certain conditions, an insurer may impose a 270-day waiting period before providing maternity benefits.
Mammograms: Every major medical policy group and individual must cover mammograms for breast cancer screening in adult women.
The frequency varies depending on age:
Age: 35-39 One only
Age: 4-49: One every two years unless your doctor has reason to believe you are a high risk for breast cancer
Age 50-64: one a year.
This is subject to a maximum of 85 per covered mammogram.
Please view our recommended insurance quote companies below. They are also great sources for information about rates and coverages for most of the lower 48 states.
16th April, 2010 - Posted by Admin - No Comments
Scam insurance is not new – criminals have been selling fraudulent policies since health insurance came into being. But with today’s skyrocketing health care costs, more consumers are seeking affordable access to quality care, which provides scam artists with fertile hunting grounds.
By appealing to consumers’ insurance cost concerns, these individuals successfully entice more than 100,000 Americans into purchasing sham health insurance every year.
Consumers should always be on the lookout for common insurance scams. Some warning signs of fraudulent plans include:
*dramatically low premiums;
*guaranteed coverage – regardless of pre-existing conditions;
*lack of the word “insurance” anywhere in the materials;
*plans that ask for premium payments in cash or for an entire year up-front.
It is important to evaluate the agent selling the plan. Agents who claim that they do not need a license to sell insurance or imply that their product is exempt from state regulation should be rejected. Consumers should be wary of any agent claiming to represent a medical provider who solicits customers door-to-door or patrols neighborhoods encouraging residents to visit a mobile clinic for routine checkups or tests.
Many organizations, including the National Association of Health Underwriters, are educating their members and consumers about how to recognize insurance scams and protect against them.
To keep from being victimized, consumers need to do their research and use a reputable insurance agent or broker who is knowledgeable about scam insurance. Consumers can locate a local NAHU member to help them find the right health insurance plan by going to www.nahu.org and using the “Find an Agent” feature.
Suspected insurance scams should be reported as soon as possible. Most states sponsor fraud bureaus that investigate insurance scams, and some even reward whistleblowers if there is a conviction.
The financial effects of these schemes are felt throughout the entire health care industry. Victims of insurance fraud will have to repay uncovered medical bills and depending on how long they go without legitimate insurance coverage, may also lose health care insurance access permanently. Health care facilities and medical professionals, meanwhile, may never be paid for the treatments they administer.
The only way to stop the spread of insurance scams is to learn how to detect fraud and work to prevent such criminals from succeeding.
9th April, 2010 - Posted by Admin - No Comments
Group Health Insurance is an insurance scheme provided by the insurance companies for a group of persons, such as the employees of an organization at a reduced individual rate. Most of the companies provide group health insurance schemes for their employees, which helps the employees to receive health treatments without any cost they need to pay. Group health insurance ensures the employees of an organization to receive medical treatment quickly so that they can avoid waiting long time in queues and other sufferings.
Group health insurance offers lots of advantages to both the employer and the employees. As far as an employer is concerned, the group health insurance scheme will provide enough medical treatment quickly for the staff of his company and thereby ensures speedy recovery from diseases and keeping disruption owing to illness in the office to some extend. The employee can also provide more focus on hisher job as there is no need to worry thinking about the time they want to wait for the treatment on the NHS, or suffering undue pain, or for a diagnosis.
Group health insurance plan offers several valuable benefits for an employee. The main advantage of becoming a member of the group health insurance scheme is that the insured doesnt have to pay large premiums for taking a private health insurance plan. The employee can work without being worried of their health as heshe will surely get quality medical help immediately if needed.
There are several health insurance companies offering group health insurance schemes. Most of the health insurance companies, as part of their Group Health Insurance Plan, provide the insured (the employees of the company) to take a health check once in every year at any private hospital with which the company has tie-up. The health checks will cover a complete check up, which include height, levels of fitness, weight, blood tests, blood pressure. The health checks are done so as to check whether the insured employee is in a good health or to find out a so far undiagnosed condition. What ever be the purpose, the health check is considered to be beneficial for the employee and the employer.
For those individuals who are not a member of the group health insurance scheme has to pay about 150 upwards to perform a complete health check. Hence this is considered as an added advantage for those who are in the group health insurance scheme. Group health insurance also helps to boost the morale of the staffs as they will know that their employer is providing special care about his employees.
Group health insurance schemes will differ from one insurance provider to another. The insurance coverage will also change according to the schemes you select. But there are certain factors which all the group health insurance schemes will cover for:
- In-patient and day-patient treatment
- Out patient treatments such as physiotherapy
- Free Help lines such as a GP Helpline and Stress Counseling Helpline.
- Specialist consultations after getting a referral from the employees GP
Group health insurance policy differs from one insurance company to another. It is always advisable to compare different insurance companies before selecting a group insurance policy. Select the one which suits your company.
2nd April, 2010 - Posted by Admin - No Comments
Battling an Unfair Health Insurance Claim Can Really Pay Off
Are you having trouble getting your insurance company to pay your medical health costs? Join the club. When managed care entered the insurance scene a decade ago, its mandate was to contain rising medical costs. One way to do that is to deny claims, even when claims are legitimate. The consumer backlash led to many states establishing independent review panels and requiring insurance companies to develop in-house appeal procedures. Forty-two states now have independent review boards whose decisions can override those of insurance companies. Most consumers don’t even realize these review boards exist.
Another problem is that too many people just give up when their insurance claim is denied initially. The appeals process can be long and frustrating and many people don’t have the patience or time to pursue a claim no matter how legitimate. People must be persistent and they can win. Particularly if there’s substantial money involved, the time you dedicate to appealing insurance company decisions can pay off usually more quickly than you think. A Kaiser Family Foundation study recently found that 52% of patients won their first appeal for each claim made. The insurance companies aren’t getting with out paying anymore.
If your first appeal gets turned down, press on. The study found that those who appealed a second time won 44% of the time. Those who appealed a third time won in 45% of cases. Which means the odds are in your favor no matter how long it take. Remember that every time you appeal it costs the insurance company more money to fight you and they are not only going to lose money to you, but also in court costs. Medical health benefits are particularly tricky because insurance companies usually have a cap on the amount of money they’ll spend in a given year, or on the amount of visits they’ll pay for. But there’s often some flexibility when you can document that you or your child’s health warrants more care than your policy usually covers. Here’s how to get started:
Do Your Homework
Read your Policy: What are the benefits? Which kinds of services are included? Outpatient or inpatient care? Is it a serious or “non-serious” diagnosis?
Know the law: Contact your local Health Association to determine your states legal requirements regarding insurance payments for all illness. Does your state require full or partial parity? Are parity benefits available only to patients with “Serious Illness” or is a so-called non-serious illness also included?
Provide written documentation: Some insurance companies may not consider some diagnosis’s serious. In this case, you will need documentation to validate required services. Obtain a letter of medical necessity from your doctor and get test results showing the medical need for you or your child to receive certain services, based on the diagnosis.
Keep good records: Remember, you’ll be dealing with a bureaucracy. Keep the names and numbers of everyone with whom you speak, the dates on which you spoke, and what transpired in the conversation.
Start early: If you can, start the appeals process prior to initiating treatment. If the doctor says your child will need to be seen once a week for a year, begin immediately to appeal your insurance company’s policy of reimbursing only 20 visits a year.
Call and Ask the Insurance Company:
What are the prerequisites for receiving health benefits?
How many visits are allowed annually for you or your child’s diagnosis? Can multiple services be combined on one day and be counted as only one day or one visit?
Which services must be pre-certified–by whom?
Be positive, polite and patient with the customer service representative. Remember that heshe is only the messenger, not the decision-maker. They are the gatekeepers and can either provide you with access to a decision maker or make your life miserable, depending on how you interact with them.
Be persistent. There are no magic bullets. Be like a dog with a bone and don’t give up until you get the answer you want. If you get nowhere after several calls, ask for a supervisor or a nurse in the pre-certification department.
Remember that you do have the right to appeal if your claim is denied. Most consumers get discouraged and will not continue to pursue a claim that should or could be paid. Insurance companies count on that happening, so get out there and claim what’s justifiably belong to you.