My favourite sites: Is This The Right Time To Buy Health Insurance?

It has been hot in many front porches across the country, the "rocking chair" with the philosophers debate in the House and Senate. Surprisingly, the majority of people know little about the nuances.

Although we live in a health-conscious society, every day millions of people suffer from injuries and illnesses.According to one source, the government Medicare, Medicaid, government employee coverage, and military coverage as a third of the U.S. population has health care insurance.

Americans own about 43 percent of employers offer health coverage. Buy it on your own about seven percent, and nearly 20 percent are uninsured. A good policy, illness, injury, disability and provides protection against financial losses caused.

By the 1930s the concept of health insurance had not been established. The first health maintenance organization (HMO) and the first Blue Cross plans were introduced in 1929. Later, in 1935, with the passage of the Social Security Act, the federal government became part of the health insurance system.

Public health insurance policies offered today come in different sizes and
Forms.

What drives the need for health insurance?

Before individuals determine whether or not they have health insurance should consider a variety of financial and economic factors. With rare exceptions, it is necessary to buy enough health insurance coverage because of serious financial health events that present a risk of suffering losses.

When considering the purchase of health insurance, please consider the following:

Types of insurance available for the fee service, health plans, high deductible health plans, health savings accounts (HSA), self - directed health plans, health maintenance organizations, point of service plans,

Preferred Provider Organizations, Exclusive Provider Organization plans, discount plans and hospital indemnity insurance are just a few of the many options available.

Select a reasonable deductible - Here's where you can spend each month on how much you have some control. Deductible you choose is a direct link to your monthly premium. A higher deductible usually means a lower monthly payment, while a lower deductible means just the opposite.

Acceptable stop-loss provision - a provision in a policy is often misunderstood. What it boils down to the medical bills of how much you are willing to pay a certain percentage. Stop-loss co - insurance is directly related to the amount. Go with a low stop-loss to prevent surprises, but understand this will adversely affect your monthly premium.

Provider network - the first thing I did with clients before we even consider an application to fill out to see if your doctor (s), network (s) were associated with the insurance company was investigating.

My favourite sites

Friday, July 8, 2011

Is This The Right Time To Buy Health Insurance?

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