Tips to Help You Lower Your Medical Insurance Premiums

Tips to Help You Lower Your Medical Insurance Premiums

• If you're married and both spouses work at jobs that provide medical insurance, compare these policies and their costs to see which one best fits your needs. Look beyond the monthly amount you must pay and closely evaluate covered services, co‐pay requirements, deductibles and reimbursement levels so that you make the best choice for your family and your pocketbook.

• Stay in‐network when possible, making sure to get referrals and pre‐certifications as required by the plan.

• Keep all receipts for medical services, whether in‐ or out‐of‐network. In the event you exceed your deductible, you might qualify for a tax deduction for out‐of‐pocket medical bills.

• Consider opening a flexible spending account, if your employer offers one, which allows you to set aside pre‐tax dollars for out‐of‐pocket medical expenses.

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What you should know about foreign travel and health insurance

What you should know about foreign travel and health insurance

When you travel outside your health insurer’s regular provider network, your insurer may not pay your medical bills, except for emergency care. Before you travel abroad, check with your health insurer to make sure you understand the rules in your policy. In some cases, especially if you plan to travel for an extended period to study or work, you may want to buy additional coverage.

Medicare doesn’t cover medical charges you incur outside the U.S. Other health insurers also may exclude or severely limit coverage for medical treatment you receive outside the U.S. You may want to buy additional health insurance to cover yourself while you are traveling.

If you are traveling abroad for a short time, such as for a vacation, insurers offer reasonably priced policies. Insurers may sometimes link this coverage to your purchase of other types of coverage at the same time — such as trip-cancellation insurance that includes medical coverage. Vacation insurance policies also typically cover only short-term travel — such as two weeks. If you think you might stay outside the country for any length of time, be sure to specify any long-term coverage needs.

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Managed Medical Insurance

Managed Medical Insurance
by Dana Smith

Medical insurance is very important to each and every one. Although there are several types of plans it is essential to select the right one for you. This might prove to be very tricky as you might not be able to understand the advantages and disadvantages of each and every plan while making a decision.

The broad categorization of medical insurance is into two groups, the indemnity plan and the managed care plan. With indemnity plans, one can get a return of costs incurred towards medical treatment although only to a fixed limit. This plan also known as reimbursement plan will require the patient to bear a portion of the bill incurred whatever be the total charges. With this plan, the insurer needs to shell out a particular amount on a daily basis for some fixed number of days. Though the amount provided through the plan does not depend on the actual total costs, the amount paid is never above the expense incurred.

The other type of medical insurance is the managed care plan. This again is further divided based on the type of policy taken and is categorized as HMOs, POSs, and PPOs. Many people opt for managed care plans over indemnity insurance plans as the flexibility provided by the former is much better. Here you get to pay a monthly fee regardless of the number of visits to the physician or hospital or you make a co-payment every time you make a visit and pay no fee every month. Also, you get more choices to select the type of care that you can afford. Depending on your abilities, you can choose to select the number of doctors in your network that you have the freedom to visit. Some types of managed care plans like the PPOs provide sponsorship programs that cover a huge network of hospitals and other medical services. This kind of insurance is usually provided by the employer where you work.

For an average person, it is best if he or she sticks on to opting for a managed health care plan as the economics are far better. Although indemnity plans provide more options in allowing the insurer to visit any hospital or physician of their choice, it is more expensive. With managed health care plans, the patient is made to visit the hospital or physician within the network of the insuring company. This causes a problem only if you have to visit a specialist not within the network for any specific problem. A managed health care plan will however be more economical than indemnity plan but the latter is better in case of any emergency especially when you are away from town.

Before you opt for any type of insurance plan covering your health, it is best to consider the advantages and drawbacks of each and every type of coverage available to you before making the right decision. Your choice should provide you the best kind of coverage at the lowest costs incurred by you.

Affordable Medical Insurance Choices

Affordable Medical Insurance Choices
by Peter Craske

Tip 1: Any premiums quoted will be based on individual circumstances

The first aspect to appreciate about medical insurance is that it is based purely on your own personal situation. Your age, sex, general well-being and social demographic will all have a bearing on the quotation you receive from the insurance company. Therefore, just because your neighbor has a low premium it stands to reasons that you may not necessary get the same deal. This leads me onto my next tip.

Tip 2: To find affordable medical insurance shop around

One of the best ways to find affordable medical insurance these days is simply to do the legwork yourself and shop around. As with any kind of purchasing, you should always get at least three quotes, based on what your medical insurance requirements are.

Tip 3: Compare and contrast your options carefully

Comparison sites on the Internet can help a great when you are trying to work your way the maze of your affordable medical insurance choices. This is a complicated area and what may seem like a very good premium may not be the one for you after all if your existing physician will not agree to accept your new medical insurance policy.

Differences Between Health Cards and Medical Insurance

Differences Between Health Cards and Medical Insurance
by Sheila Guilloton

Health Cards claim to offer access to high quality and affordable medical care, dental care, prescription drugs, vision and other health care services. The rates vary but may be as little as $20 a month to as high of $125 a month for a family. The two big selling points of these plans are that they are affordable and that you cannot be turned down.

Exactly what are you buying? Health cards can also be called discount medical programs or plans. This industry has grown so large that they even have their own trade association, the Consumer Health Alliance. Here is the definition of a health card given by the Consumer Health Alliance. "Our member companies make health care products and services, including prescription drugs, dental, chiropractic, eye care, physician, hospital and laboratory services, available to millions of Americans by providing opportunities for consumers to directly purchase health care services and products at discounted rates." According to the Consumer Health Alliance more then 28 million consumers have purchased these plans for various companies.

The problem lies not in the concept of the programs but in the sale and execution. The most important fact you must know about these health cards is that they are NOT medical insurance. Many consumers have failed to understand what they are buying and as a result have been saddled with hundreds and even thousands of dollars in medical bills they assumed would be covered by their health card.

These plans advertise that they are affiliated with networks of medical providers. That is generally true. Their affiliation may even be with some of the national networks that insurance companies use themselves. The plan representative tells you that if you use the services of a network provider, you will get a discount on the service similar to the discounts that insurance companies negotiate when providers join their networks.

One company, for instance, gives you an example. If you see a network provider, that doctor's normal charge for an office visit may be $120. But with your discount health card, you will only be charged $90 thus saving you $30 each time you visit the doctor, On the surface that may sound good, but remember, the consumer and only the consumer, has to pay the provider $90 every time he visits that doctor.

What happens if we discuss a hospitalization rather than a doctor's visit. You find you need a hip replacement. According the the American Academy of Orthopedic Surgeons, the average cost of a hip replacement in 2006 was $42,000. You see a doctor who is in the network used by your $29.95 a month health card. You expect to get a significant discount for the procedure because you used a network provider. Remember your doctor visit. You got a $25% discount and only had to pay the doctor $90 of the $120 bill.

But now you have a bill from the hospital for your hip replacement for $42,000. It is also discounted at 25%. That means you owe the hospital $31,500. And you have to pay it. It's better than owing $42,000 of course, but $31,500 is still a pretty significant amount of money that the consumer has to pay out. Unfortunately, the companies that sell these cards focus your attention on the small services. But, if consumers are smart, they will focus on the big items, which is the real risk of not having medical insurance.

For some people who don't qualify for health insurance, discount cards may be the only option. Individual medical insurance generally is medically underwritten which means if a person has a medical condition that the insurance company does not want to insure, they will be unable to get medical insurance. Most states have what are called pool plans, which will insure persons with medical conditions, but as you can imagine, these plans are extremely expensive.

The real danger of these cards is the aggressive methods used to sell them. Many of these plans are actually sold as Multi Level Marketing plans. The sales representatives do not have to be licensed insurance agents, because the plans are not insurance. There interest is in adding people to their downline as that is how they make money. Learning the programs and carefully advising consumers as to what they are buying may not be the most important thing to these sales representatives.

If you are considering buying a health plan, be careful and ask questions. Understand first and foremost, that you are NOT buying insurance. Be wary of extravagant promises of discounts up to 60%. In our hip replacement example, for instance, a 60% discount would mean the service would only cost you $16,800. It is unlikely that a provider hospital would give you that kind of discount. Ask for specifics about hospitals, doctors and procedures. Ask if all the providers honor the advertised discounts. Sometimes doctors and other providers are not even aware they are listed as participants in these plans.

Ask about hidden fees. Often there are administrative fees hidden in the fine print. Be especially careful if there are fees charged for each use of your card. These fees may eat up almost all of your discount.

Discount health cards are never a substitute for medical insurance. Before you consider buying one, think about how you will use it. If your need is for less expensive services, such as routine doctor's visits, dental or vision discounts, they may be worth it. Remember, if you need an expensive procedure such as a hospitalization or surgery, you will be paying most of the bill yourself. No matter what the representative tells you or the advertisements imply, your card will never pay one single cent to any provider. The consumer will always be responsible for the amount of the charge less any discount that might be applied.

Consider your needs and the needs of your family. If you can afford it, buy medical insurance. Even a plan with a high deductible such as an HSA will be a better option because at some point after the deductible is met, the insurance will pay the balance of the bill. If you can't afford insurance or you cannot qualify because of medical problems, a health card may be useful. But before your buy, understand what it is and what it can really do for you.

How To Get Low Cost Ohio Medical Insurance Coverage

How To Get Low Cost Ohio Medical Insurance Coverage
by James Robinson

There are a number of different things that you can do to find low cost Ohio health insurance coverage, but it is important to first of all educate yourself on the importance of medical insurance and how it works. Medical insurance is a different from other types of insurance. It is different because there is not a question of if you will use it but when. So, when searching for cheap Ohio medical insurance plans you need to remember it is the costs will be different from those other insurance forms.

Recognizing the reality of the need for medical insurance is the first step you have to take when you begin searching for coverage. You have to understand that even it the costs seems higher, it is much better that the cost of being without medical insurance.

Your goal isn't necessarily to find the cheapest Ohio medical insurance policy out there. Instead, make it your goal to find an affordable policy which will allow you to meet your family's need for preventative and acute health care. With all that in mind, you can begin searching.

You want to decide the type of coverage you need first. You may have to choose between high deductibles or high premiums. You will also need to consider your co-pays. These are all costs associated with your policy. Here is an explanation about deductibles, premiums and co-pays:

• Deductible: This is the amount you pay out of pocket before your insurance will pay anything. It's usually set on an annual basis. For example, you may need to pay for the first $500 on an individual policy before the company starts to pay.
  

• Premium: The amount you pay to be covered by the provider. It is usually billed monthly, but can often be paid in different installments or all at once.
  

• Co-Pays: The amount you pay after reaching your deductible for each service covered by your insurance. Typically it's $10-$40 for a non-specialist appointment.
  

You will pay all three types of costs and you need to do some math to figure out what combination would be the most reasonable for you.

Let's say that you rarely visit the doctor and are carrying medical insurance just in case of an emergency. You would be better off with a high deductible which will lower your premiums. Since you are unlikely to ever reach your deductible, the co-pays can also be high. This should result in a very low premium charge. Just be sure that you can cover the costs in a worst case emergency scenario.

If, however, you know you will use your insurance often then you may do better with a lower deductible. You would also want lower co-pays. This will help keep the overall cost down.

You have to look at your own situation and choose an insurance policy based upon that. What may work for you may not work for someone else. Medical insurance is a very personal thing. Cheap shouldn't mean that it doesn't cover your needs.

The single most important thing that you can do to find affordable Ohio medical insurance is to shop around. Be sure that you compare quotes from at least 3 different insurance companies before you decide to purchase.

Major Health Insurance

Major Health Insurance
by Donald Saunders

Major health insurance is the name given to one particular type of what is normally referred to nowadays as indemnity or fee-for-service health insurance.

Climbing medical costs in recent years mean that we are gradually moving away from traditional types of health insurance and the original fee-for-service health insurance plan is rapidly being replaced by a variety of other plans including HMO (health maintenance organization) plans, PPO (preferred provider organization) plans and POS (point of service) plans.

In essence fee-for-service health insurance plans are designed to cover unanticipated medical bills due to injury and illness and give plan holders significant freedom in choosing where treatment is undertaken and by whom that treatment is given. Fee-for-service plan holders are also frequently responsible for making payment for their treatment and subsequently claiming back the cost from their insurer.

The newer plans by contrast focus far more on routine medical care with the intention of avoiding unnecessary costs by keeping plan holders in good health and spotting conditions at a very early stage when they are hopefully simple to deal with. These plans simplify administration for plan holders but at the same time take away much of the freedom to decide where and from whom treatment is to be received.

The majority of people nowadays are covered by the newer types of health insurance rather than by traditional fee-for-service plans largely not only because of their lower cost but also because there is a lot less administration when it comes times to make a claim against your plan. Additionally, a rising number of employers who provide group health insurance plan membership to their employees are also opting for these newer types of plan. All the same, there is still a substantial number of individuals who prefer the freedom of choice that an indemnity plan allows them and it is here that you may wish to consider major health insurance coverage.

Fee-for-service plans provide three types of coverage; basic health insurance, major health insurance and comprehensive insurance.

Basic health insurance plans will vary from one health insurer to the next but will commonly cover treatment in hospital (plus the cost of room and board), some hospital services (like x-rays and medicine), surgery (whether done in a hospital or another recognized surgery center) and some doctors visits.

Major health insurance plans by contrast are designed to cover treatment for long-term and high cost illnesses and injuries as well as in and out-patient bills associated with these illnesses and injuries.

Finally, comprehensive cover is merely a plan that encompasses both basic and major medical coverage.

Perhaps not surprisingly major health insurance is a popular choice as most individuals are quite happy to bear the day to day cost of medical care but are worried about what they would do in the event of a significant injury or illness which could involve substantial medical expense that might drag on for weeks, months or years.

Sadly, the choice and security which is provided by a major health insurance plan is reflected in the cost of fee-for-service plans in general and so it is increasingly becoming an option that a lot of individuals would wish to select but that is simple becoming too expensive.

Health Insurance: Critical Illness Cover

Health Insurance: Critical Illness Cover
by David Thomson

Critical illness cover can be taken out to protect against the possibility of you falling ill and a policy usually contains a long list of illnesses that are classed as being critical. The cover would pay out not only if you were seriously ill because of one of the illnesses, providing you have waited a certain length of time from contracting the illness, but would also pay if you become disabled as a result.

A policy would usually take into account around 30 illnesses which could include cancer, heart attack, suffering a stroke and kidney failure or transplant. Of course you have to check out the terms and conditions of the policy before taking it on as they do differ. There are also many exclusions which have to be checked and these can apply to the various illnesses. For example while in the majority of cases critical illness cover would payout if you were diagnosed with cancer, not all forms of cancer would be covered. Skin cancers are usually exempt from the cover as is prostrate cancer unless it is advanced. There are also exclusions for such as a heart attack and different policies will have different exclusions in them. Therefore you should never skip over the small print however tempting it might be.

When you are looking into choosing critical illness online you are able to take out a policy for any number of years. As long as you pay the premiums each month then the policy can continue running. There is always a period in which you cannot claim when taking on the cover and this would normally be around three months. While the advancement in technology means that you can live longer when being diagnosed with a critical illness it also means that insurance companies are putting up the cost of the insurance and as more advancements are made, premiums will continue to rise.

There are many factors that you have to take into account when choosing critical illness and when you look around you will find that there are many different policies offered by insurance companies. Never just take the first policy you find without looking into what is covered and is not, while you might get the cover cheap it would probably not cover many illnesses.

One thing to look for when deciding which critical illness cover to go for is whether or not the premiums will be fixed. If they are not fixed then you can expect the insurance company to raise them perhaps every other year. This could mean that what once was affordable cover now becomes a burden. A large number of policies will also provide cover for any children you have as standard. Sometimes the company will include children in the policy as standard while other providers could ask for a small premium. If you allow a broker to search around on your behalf for premiums then you can compare these easily for the best cover. All insurance found this way should come with what are called the key facts and these will tell you important information about what the policy entails.

Retirement: Medical and Life Insurance

Retirement: Medical and Life Insurance
by Michele Smith

If you are a union worker retiring now, you are exiting the workforce after a gold rush of paid medical expenses and lucrative defined benefit or pension plans. In 2003, the average life span became higher at 77.6 years. Some argue that overweight issues and new illnesses will stop the trend of Americans living longer. Because people are living longer, the financial future of tomorrow's retirees is at stake. When retired, you will have time to mine financial reports, find gold nuggets of understanding about the U.S. economy, and sift through your golden loot with your tax advisor, investment broker, insurance professional, and attorney. It is the right here and now, while you are still swinging the pick axe in your working years, where time can be your best friend and mentor. Know and understand what it is exactly you have stashed away and how you can protect or grow the savings you have worked so hard to get. So when will you call it a "done deal" and let the upper management and human resource department folks know you will retire? In today's world, it is a "win-win" to have the best financial advice available when considering your retirement options.

Knowledge is Power
Before you "turn in your hard hat", ask your human resource department for a hard copy of your medical benefits, disability, and life insurance benefits, or any other benefit which is offered to you as a retiree. Many employers now allow employees to get this type of information online using a personal computer with a PIN (personal identification number). If you don't have one, ask your human resource department to help you learn how to get the right information to get your information online. If you don't feel right getting information online over the computer, ask your human resource department for help.

Medical Coverage: Are the Big Buck Days Nearly Over?
General Motors (GM) spent $5.6 billion in 2004 to care for 1.1 million active and retired employees and their dependents. In 2003, health-care spending amounted to $1,525 for every vehicle GM produced in the U.S. 69% of the beneficiaries of medical coverage are retirees. If you are getting ready to retire and you are sixty-four (64), you need to look into your medical supplement insurance or Medigap. Be prepared for your union to make future changes, as GM may, to its current medical plan.

Many families already know about rehabilitation therapy and how important it is for triggering events like stroke or heart attack. In the case of Medicare supplement (or Medigap), Julia Apple (not her real name) was really helped by the policy her company had taken out at her retirement. Julia had a very serious stroke that left one side or her body without any strength and for about three months, she required rehabilitation therapy. The cost of the first one-hundred (100) days of her rehabilitation therapy was covered by her Medicare and Medigap policies.

The focus areas of medical insurance coverage in your retirement are: Medicare, the government subsidized health insurance for retired workers, Medigap, a privately paid for supplement to government health insurance, and long term care insurance. Medigap insurance may often be taken out by your company when you retire.

Medigap offers a wide assortment of medical supplemental benefits which Medicare will not, such as rehabilitation. These supplemental benefits are individually categorized as A-J. For each letter, A, B, C, D, E, F, G, H, I, and J, you will find a type of medical care, such as hospice care, for example. A Medigap policy will differ from state-to-state and from insurance-carrier-to-insurance-carrier. In Indiana, consult an independent insurance professional for advice in getting Medigap coverage, or contact your local Senior Health Insurance Information Program (SHIIP) office to get information and referral.

The single most serious financial issue is what to do and how to cope when the Medicare and Medigap policy benefits run out. This is where long term care insurance comes in and provides income to the person being cared for to help offset the out of pocket costs. In 2004, Genworth, a large long term care insurance provider estimated the national average for long term care costs was $75,000.00.

Life insurance: Is it Fool's Gold?
While it may be tempting to respond to direct mail offers you receive in the mail or solicitations on television, there is nothing like a face-to-face conversation with an agent who has the ability to meet you at your home or office to discuss your concerns.

Many of today's retirees do not have a permanent life insurance policy. However, they do have term insurance through their employer. Meet with an independent life insurance agent from a firm with good financial ratings and ask them to review or audit the policies you have. You can find out if the insurance you have through your employer is portable and also if it would be affordable for you to convert it to a permanent policy at your retirement. In many cases, a competent insurance professional will be able to assist you with determining the type of coverage that you should have. If you aren't sure about the advice you receive, seek a second opinion from another representative from a highly rated firm with a local sales office.

Life insurance is not fool's gold. It can help your family to have an income if you pass away; it can supplement retirement income, be borrowed against, and can help you minimize financial stress on the people you love at their most critical hour.

Health Insurance FAQ

Health Insurance FAQ
by Lorne Zalesin

How does a PPO plan work?
As a member of a PPO (Preferred Provider Organization) plan, you'll be encouraged through their pricing of services to use the insurance company's network of preferred doctors and hospitals. With a PPO plan, services rendered by a physician that is out of their network are typically covered at a lower percentage than services rendered by a physician within the network. Usually, you won't be required to pick a primary care physician but will be able to see doctors and specialists within the network at your own discretion.

You will most likely have an annual deductible to pay before the insurance company starts covering your medical bills. You may also have a co-payment for some services, or be required to cover a percentage of the total charges.

How does an HMO plan work?
HMO (Health Management Organizations) plans typically enable members to have lower out-of-pocket healthcare expenses but also offer less flexibility in choices of physicians or hospitals than other health insurance plans. As a member of an HMO, you'll be required to choose a primary care physician (PCP) which you must see prior to being referred to a specialist.

With an HMO, you'll likely have coverage for a broad range of preventative healthcare services, some even offer discounts to health clubs. You may not be required to pay a deductible before coverage starts and your co-payments are usually minimal. HMO's typically offer no coverage whatsoever for services rendered by non-network providers or for services rendered without proper referral from your primary care physician (PCP).

What is the difference between in-network and out-of-network providers?
An in-network provider is one contracted with the health insurance company to provide services to plan members for specific pre-negotiated rates. If you visit a physician or other provider within the network, the amount you will be responsible for paying will be less than if you go to an out-of-network provider. Though there are some exceptions, the insurance company will either pay less or not pay anything for services you receive from out-of-network.

How does the Indemnity plan work?
A traditional Indemnity plan offers a great deal of freedom in choosing which doctors and hospitals to use, but will probably involve higher out-of-pocket costs and more paperwork.

Under an Indemnity plan, you may see the doctors or specialists you like, with no referrals required. Though you may choose to get the majority of your basic care from a single doctor, your insurance company will not require you to choose a primary care physician.

However, this kind of freedom may be costly. You'll likely be required to pay an annual deductible before the insurance company begins to pay on your claims. Once your deductible has been met, the insurance company will typically pay your claims at a set percentage of the "usual, customary and reasonable (UCR) rate" for the service. The UCR rate is the amount that healthcare providers in your area typically charge for a given service.

An Indemnity plan may also require that payment up front for services, and then you would submit a claim for reimbursement.

How does an HSA work?
HSAs and HSA-eligible health insurance plans are a great way for people to control their health care dollars. Here are the basics:

• An HSA is a tax-favored savings account that may be used in conjunction with an HSA-eligible high deductible health insurance plan to pay for qualifying medical expenses.
  

• Choosing an HSA-eligible plan may help you save money. Typically, the monthly premium on an HSA-eligible high deductible plan is less expensive than the monthly premium for a lower-deductible plan.
  

• Contributions to an HSA may be made pre-tax, up to certain annual limits.
  

• Funds in the HSA may be invested at your discretion at a qualified financial institution of your choice. Unused funds remain in the account and accrue interest year-to-year, tax-free.
  

• Not all high-deductible plans are eligible for use in conjunction with an HSA.
  

What is a co-payment?
A "co-payment" or "co-pay" is a charge that you pay for a specific medical service or supply. You can think of this as the "office visit fee". If your plan requires a $15 co-payment that's the amount you pay for an office visit, and the insurance company pays the remainder of the charges.

What is a deductible?
A "deductible" is a specific dollar amount that your health insurance company may require that you pay out-of-pocket each year before your health insurance plan begins to make payments for claims. Most Indemnity and PPO plans require you to meet the annual deductible prior to making payments.

What is coinsurance?
Coinsurance is the amount that you are required to pay for a medical claim, apart from any co-payments or deductible. For example, If there is a 20% coinsurance requirement, then a $100 medical bill would cost you $20, and the insurance company would pay the remaining $80 until you meet the total annual out of pocket requirement.

Finding the right health insurance plan can be overwhelming. Each state has different rules and providers. Different providers may have very different health insurance qualifications and health insurance premiums vary depending on deductible, age and health of the applicant, and the carrier. Try to find an online health insurance quote provider for your health insurance in your state. These services are usually free and can also offer the backup of experienced health insurance advisors to help you make sense of the options for you as an individual or for family health insurance.

Scheduled Health Insurance vs. Comprehensive Health Insurance

Scheduled Health Insurance vs. Comprehensive Health Insurance

Scheduled Health Insurance: in recent years these health insurance plans take the name mini-med plans or association plans. These plans are not meant to replace a traditional comprehensive health insurance plans and are more of a basic policy providing access to day-to-day health care such as going to the doctor or getting a prescription drug. They may provide benefits for hospitalization and surgical, but these benefits will be limited. Scheduled plans are not meant to be effective for catastrophic events. These plans cost much less then comprehensive health insurance. They generally pay limited benefits amounts directly to the service provider, and payments are based upon the plan's "schedule of benefits". Annual benefits maximums for a typical scheduled health insurance plan may range from $1,000 to $25,000.

Comprehensive Health Insurance: is health insurance coverage that pays a percentage (may be 100, 90, 80, 70, 60, 50 percent) of the cost of hospital and physician charges after a deductible (usually applies to hospital charges) or a co-pay (usually applies to physician charges, but may apply to some hospital services) is met by the insured. These plans are generally expensive because of the high potential benefit payout, $1,000,000 to 5,000,000 is common, and because of the vast array of benefits that are covered.

Lowering Your Health Insurance Cost

Lowering Your Health Insurance Cost
by Craig Thornburrow

Having health insurance that you can afford is becoming more and more of a challenge for the average family. The cost of health care is going through roof and not having some sort of insurance policy is becoming a very high risk. One hospitalization for you or a family member can literally mean the collapse of your financial stability and literally deplete any savings you have been able to put away.

You are constantly hearing politicians stating that you are going to make medical insurance affordable for everyone. That is a great bumper sticker or campaign slogan but the reality is there will be committees formed and do nothing except waste time. The truth of the matter is that having insurance for medical reasons is going to remain high but there are some things that you can do to try and reduce your own policies.

Tips for Lowering Your Insurance Cost

First if you are a smoker - stop. This will save you 25% off of your premiums. Now the insurance company does not just take your word for it that you have quit smoking. It oftentimes takes up to one year to prove you have been smoke free. You will be required to submit a urine sample and have it tested to prove there is no nicotine in your system. The rate in which you become nicotine free is determined by many factors including height and weight but the average time is one year. Once you can prove to the insurance company's satisfaction your rates will be lowered to the non smoker's rate.

Another thing you should do is really evaluate your current policy and make sure that there is no coverage on there that you don't need. One to really look for is maternity coverage, if you are no longer able to have children for any reason get rid of the coverage, it is very expensive. Really make sure that your policy reflects what you feel is important coverage.

Audit your medical history for the previous few years and see if your deductible is correct for your situation. What this means is if you have a low deductible such as $500 and you have never reached that amount you may want to contact your insurance company and see if raising your deductible will help you in premium cost. Be careful however not to cut yourself short either, this means if you don't save enough in premiums savings to cover the difference between the deductibles don't raise because if you happen to get really ill you can put yourself in a bad financial situation and now the savings is no longer worth it.

If you are younger and relatively healthy you should consider changing over to a health savings account. These accounts give you high deductible but much lower premiums. You then are able to take tax free money and put it into your HSA which earns a respectable amount of interest. You then use this money for any health related cost, this can include dental and eye doctors or even cold medicine. This is a very viable medical insurance option that you should consider.

How Can I Get Cheap Medical Insurance?

How Can I Get Cheap Medical Insurance?
by Ian E. Wright

Medical insurance costs are increasing all the time. Many Americans now feel that they cannot afford health insurance. Some others feel that they do not require it, since they are healthy and have never faced medical problems. It is faulty thinking and you have to stay away from it.

As a fact, medical insurance is necessary and there are plenty of ways of getting affordable health insurance, both for your family and for yourself. Health insurance is a protection against any possible health risks that can crop up in the future. There is no way to know, in which form they can appear.

Each state has introduced a special Medicaid program, for people who earn low wages. The requirements differ from one state to the other. However, in order to get an application form, all it takes is a trip to the local Division of Family Services Office. It is effortless for people, to qualify for such services.

For this, clients have to simply fill out the form and then submit the documentation. These programs cover the medical insurance needs of the entire family. It includes prescriptions, emergency care, doctor visits, eye care, dental work and more.

It is a good option for those people, who have children and who do not get any insurance through their work. It is a simple process and, if the clients qualify, it can make their life a lot better.

Other Quick Options:
The other option to obtain a cheap medical insurance is conducting a search on the internet. There are thousands of companies, which offer different health insurance plans. In addition, it is very much easy for an individual to find, one perfect plan that can cover their entire family's medical expenses. Since the costs may vary, it is important to undertake thorough research before selecting one or another one.

It is a smart option to look and to check the credibility of the insurer and their experience in medical coverage. Ensure that the company has a license to operate in the home state of the individual. Otherwise, it is a bad option to buy cheap medical insurance from such an unlicensed company.

Other options include the local insurance agencies. Inquire about the different policies and agents. Most agents work hard, so that the policyholder gets cheap medical insurance plan for his or her family. It is better to follow up with alternative health care plans and prescription card plans. While some cannot suit all the needs, some may just be the perfect one.

Medical Cards Plan:
Medical card plan is one of the best options to obtain cheap medical insurance. Here, members of the discount plan, access the wholesale rates for a small monthly fee. When an individual receives medical care from the provider, the member has to pay the discount fee during the service.

It benefits both the provider and the member who receives the payment without any paperwork. However, the services provided by the companies differ. Overall, cheap medical insurance is not far away, if clients do a proper research.

Types of Insurance: Health Coverages

Types of Insurance: Health Coverages

• Health insurance policies will often cover the cost of private medical treatments if the National Health Service in the UK (NHS) or other publicly-funded health programs do not pay for them. It will often result in quicker health care where better facilities are available.
  

• Dental insurance, like medical insurance, is coverage for individuals to protect them against dental costs. In the U.S., dental insurance is often part of an employer's benefits package, along with health insurance.