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Category Archives: Insurance

Tricks Pick Best Medical Insurance

Consider the benefits or coverage provided

Every medical insurance plan comes with its own list of benefits also known as coverage. Most medical plans are hospitalization benefit plans. They cover expenses covered at the time of any hospitalization of the insured individual. While some of the points are universally available in all plans, others are included in some plans and excluded in others. The list of common benefits include hospitalization expenses which include room rent, ICU room rent, doctors visit fees, procedure charges, pre and post hospitalization charges, day care procedures and so on.

The other coverage options which are included at the discretion of the company include organ donor expenses, maternity and new born coverage, Ayush treatments, Ayurvedic and Homeopathic treatment expenses, etc. So, before buying a plan, consider the list of coverages that the plan provides or does not provide and see whether the coverages not provided relate to your life or not. For instance, you may not be keen on Ayush treatments and its exclusion may not have any bearing on your decision.

Pre-existing diseases clause

If you are completely healthy at the time of purchasing the plan, consider it a blessing. But you may be affected with certain illnesses like diabetes, hypertension, etc. at the time of buying the plan which are called pre-existing illnesses. Every insurer excludes the pre-existing illnesses from the plan’s scope of cover for a certain period called the Waiting Period. If you suffer from such illnesses, go with a plan with the shortest waiting period to include your condition at the earliest.

Claim process

Cashless or reimbursement – there are two ways in which the insurer may settle your claim. Under the cashless facility, if you seek treatment in a network hospital, the insurer directly settles the medical bills with the hospital without you having to get involved. Under a reimbursement claim mode, you will first have to foot the bills and later get those bills reimbursed from the insurer. The reimbursement method of claim settlement may prove a curse because the costs involved may not be affordable and also the process involved is quite cumbersome.

List of Network Hospitals

Rather a sub-point of the above point, a network hospital is one which has a tie-up with the insurer to provide you with cashless facility of bill settlement. Every insurer has a list of such hospitals with which it is tied up and considering the list is important because you must know which hospital to rush to in case of an emergency or whether the local hospital is among the list of network hospitals and would honor your policy and offer cashless services.

Discounts and bonuses

Who doesn’t love a good discount or that extra benefit which comes at no extra cost? Most medical insurance plan has the concept of No Claim Bonus wherein extra benefit is provided to the customer if there has been no claim in the previous years. This bonus is given in two forms – either it involves a reduction of the subsequent year’s premium or an increase in the coverage amount at the same rate of premium. While a discount in premium sounds tempting, an increase in the coverage is a better option in the long run when the medical costs are expected to increase.

Super Visa Health Insurance Is Important

In Case Who Suffer From Some Medical Condition

It is your right to know about your medical status and in case of any medical condition when you seek for the health insurance you have the right to know beforehand if your medical condition is covered in the insurance or not because you would like to be insured for the medical condition you are going through.

You Need To Check In The Details Given By The Super Visa Health Insurance

Usually all the health plans by various insurance companies, including super visa contain the basic details and they are:

Benefits of the health care program that you have chosen for yourself in detail

  • Super visa health insurance follows procedure and policies that one need to have information about.
  • In detail, it should me mentioned about the limitations of the insurance.
  • Extra benefits in case of emergency such as ambulance facility to rush to the hospital, benefits of giving best treatment and no delay in making payment to the hospital

Information of Medical Billing

Medical billing is nothing, but a payment practice in the health system of the United States. In this system, medical care providers, such as dentists, doctors, orthopedists, etc. submit and follow up on claims with medical insurance companies so as to get the payment for the medical services they offer to the patients.

In the past, it was done manually on paper: medical service providers need to fill, submit claims themselves. Now, with the advent of specialized software, medical billing has become quite easy for medical service providers. What’s more, now, medical care providers can manage, submit claims, and receive payments for a large number of patients quickly.

A bridge between doctors and insurance companies

As I said earlier, medical billing is the process in which you send invoices to health insurance providers. These invoices include the details of the treatments you have provided to your patients. Often, these invoices are referred as claims. Sometimes, insurance companies pay the full amount of claims. And sometimes, patients also pay a part of it. This all depends on the terms and conditions of health insurance policy.

Now it is done through specialized software

These days, medical care providers use specialized software. And the use of these software applications reduces the risk of error and efficiently manages client information and insurance claims. What’s more, software programs streamline activities from submitting claims to managing insurance and patients’ payments and patient billing.

Now, with the use of the web or cloud-based software applications, involved parties can access the system anywhere and anytime.

You can outsource it

As a medical care provider, you always try to offer the best care to your patients. However, it is never easy to provide high-quality patient care along with higher productivity and increased cash flow. And making the matter worse, the regulations and payer guidelines are changing all the time.

Cut Your Health Care Costs

Save at Stand-Alone Radiology Centers

The average outpatient hospital cost for MRI and CAT scans is $1,384 to $1,668. But the average radiology center costs $445 to $725. (Information from Cigna) There can be a huge range between the highest and lowest costs in your area. [Most insurers have tools to help you compare the costs of x-rays and tests at different types of facilities in your area.] Check your insurer’s website.

Ask Your Doctor about Cheaper Facilities

Most doctors have privileges at several hospitals or outpatient surgery centers. The doctor’s costs will be the same. However, the facility fees can vary by thousands of dollars. This was an “A-Ha moment” for me. I learned after the fact, the doctor’s clinic would cost 1/3 the fees as the hospital. I think that is one reason why so many of these clinics and surgery centers are sprouting up.

Avoid the Emergency Room if You Can

You may not always be able to avoid an emergency care visit. However, you may be able to go to a much less expensive urgent care center or convenience care clinic. Cigna suggests using these facilities for minor cuts, burns, sprains, joint or lower back pains, and urinary infections. The average cost nationwide for an emergency room visit is $1,553 compared with $135 for an urgent care center and $58 for a convenience care clinic.

Determine ahead of time, who is in your network. You don’t want to be fumbling around when you have an emergency.

Sometimes you can’t avoid a trip to the emergency room, but you can still manage the costs as best as you can. You may be in the ER, but you are still the consumer. The triage protocols have employees following certain procedures. You need to be vocal about what you believe is needed.

I had something stuck in my esophagus. I called my doctor’s office to ask for assistance. I was told I needed to have my esophagus scoped; go to the ER. Because I presented with heart burn, – after all I had something stuck for hours in my throat – they followed procedures and were going to do an EKG. I was vocal and refused the procedure. Next they wanted to do some blood work. I also put a hold on that procedure. I did finally receive the services I came for and a bill of $4,500. I can’t imagine the cost if I had let them proceed unfettered.

Sign Up For Special Health Programs

You may get extra cash or discounts on your premiums for taking a health risk assessment or participating in a tobacco-cessation program. Employers are moving towards motivating employees to be healthier. Kaiser Family Foundation surveyed employers and found more than half offer special disease management programs others may provide a work-out room within their building or pay a set amount towards a gym membership.

Accident Medical Insurance

You may be wondering about the kind of benefits that such accident insurance plans will bring about. These plans will definitely cover all the costs of hospital care and medical care. Sometimes, the plans also offer cash to the person who is insured owing to the loss that he or she has suffered from the accident. There are numerous online insurance companies that claim to offer accident insurance plans. But, rather than jumping into the very first one that you may come across, it is strongly recommended that you request for the accident insurance quotes through that website. Then you will be able to come to an understanding about the market and also understand the various features and benefits of the plans that are being offered.

When you get coverage on such a plan, you can get coverage for all the expenses you may incur in the emergency room and also the surgeon and doctor costs, ambulance charges, x-rays and lab tests. You may perhaps be able to choose the hospital and the doctor too. If you have not had any accident insurance so far, then I strongly recommend that you get one. It is important more so when you are working in risky work environments and settings. Of course, in such cases, the employer himself will provide health insurance against accidents for his employees, but in case you do miss out on it, you must seriously consider getting one for yourself.

These plans too are varied. Therefore, based on the kind of risk that hovers around you, and the nature of work that you are into, you may choose your plan. Like making a choice for other insurance plans, for accidents too, you can request for accident insurance quotes. When you request for quotes, you are making a quick comparisons across the providers. Ultimately, your main aim is to get maximum coverage with less and affordable payments of the premium.

Few of the accident insurance plans are especially designed especially for the corporate clients. The corporate sector definitely stays invested in such kind of plans for its employees and their well being. Insurance in general is something that we consider most of the time, whether it is for our cars or home or jewelry. But, of all the things, insuring oneself against accidents becomes extremely important. So, take out a bit of time in order to learn about the various plans that do exist and make your choice.

Information about Evolution of A Health Insurance Firm

One of the industries that have been significantly affected, is the health insurance industry. Ever since Henry Kaiser executed health insurance for his employees in the 40s and Equitable Life offered the first group health insurance policy about the exact same time, we have been covered for the costs of seeing the doctor and going to the hospital by personal insurance business.

One huge problem with that system was that people who had illness that were deemed uninsurable, were not able to buy adequate coverage, and lots of could not buy any at all due to the fact that they did not certify. However, lots of employees have actually been covered through their companies, and millions more through private medical insurance policies purchased directly through medical insurance agents or medical insurance agencies.

There was never ever any real effort in the insurance industry to build profession companies specializing exclusively in health insurance. Rather, the capability to market medical insurance for the specific market, and group medical insurance came from existing life insurance firms, and existing property and casualty representatives.

These agencies included individuals who had, or who might develop the relationships and contacts with individuals, professionals, and business owners to whom the health insurance strategies existed.

Even with a fairly concentrated effort to reach those people who required coverage, by the time The Affordable Care Act entered into being, there were still around 30 million Americans who continued to be uninsured for medical insurance.

Now, the whole landscape for the distribution of health insurance has altered. Now, instead of medical insurance being delivered entirely by private enterprise, it is managed and only policies that are authorized by the Federal Government are allowed to be sold to the consumer.

At first it appeared that the licensed agents were being edged out by Obamacare, due to the fact that the companies who sold the bulk of the health insurance in America were needed to raise their reserves which backstopped possible future claims, to a level that however removed representative commissions. This brought their commissions down to a level where many representatives and firms were eliminated of company. There was just no other way that a company or an agent who focused on medical insurance alone, could move forward with that particular economic design.

Now it is apparent that agents remain in fact a primary driving force in the sale and application of the AFA, as proven in California where 60 percent of the enrollees in the state exchange were registered by representatives over the efforts of the employed federal government navigators and call center personnel.

Now, the insurance coverage companies, companies and agents have formed new unions, where cooperation and strength in numbers have actually served to create new principles. These cooperative efforts by agencies who deal with marketplace registrations along with ancillary health insurance that can cover the very high deductibles that Obamacare offers are proving to be really effective with great results.

Health Insurance Terms Made Easy

– Deductible. This is the amount you owe for services your plan covers before the insurance company will pay a claim. For example, if your deductible is $1,000, you will have to pay that amount before your coverage kicks in. However, it doesn’t apply to all services, which means that some things, like preventative care or doctor’s visits, may be covered before you’ve reached that $1,000 mark.

– Copayment (COP) vs. coinsurance (COI). COP and COI are two ways that health insurance companies can share the cost of the services with the patient. While they both have the same purpose, they’re a little bit different. COP is a fixed amount that you pay whenever you get a specific service. For example, a visit to your primary care doctor will cost you $20 every time you go. You may also pay $10 for each generic prescription that you have filled. COI, on the other hand, is a percentage of the cost of the service rather than a fixed number. For example, with COI, you will be charged 20% of the cost of the visit if you see your primary care doctor, and the cost of the visit will vary depending on the nature of the treatment during that visit. Likewise, for a generic drug, you would pay a fixed percentage that would vary by the drug’s cost and its tier. Most companies negotiate discounted rates with physicians and pharmacies, which means that you’re usually responsible for a percentage of that discounted rate.

– Prescription drugs. The difference between COP and COI can be confusing when it comes to pharmaceuticals because of the different drug tiers. Each health insurance plan will come with a drug formulary to help you understand what you’ll be paying for in that area specifically.

Health Insurance for Family

· Helps you to protect & manage your health

As long as you have health coverage, you will benefit a great deal from preventive checkups. In addition, you will be in a better position to seek for treatment when you see signs of any health problem before they generate into serious conditions. Therefore, when you are able to obtain medical care when you need it can help improve your overall health. Furthermore, those who have health insurance are more likely to keep away from smoking. They are also more likely to eat a healthy diet and engage in exercise regularly.

· Saves you a substantial amount of money on healthcare bills

If you are receiving healthcare without having an insurance policy, this means you are taking responsibility of the entire costs of your medical care. However, the moment you choose to buy health insurance you stand to benefit from discounted rates. This is made possible by the fact that insurance companies take the initiative to negotiate for rates with hospitals, doctors and specialists. Therefore, you will be in a position to pay less for the services as long as you are insured. Otherwise, you would have to pay 100% of the cost.

About Term Insurance and Mortgage Insurance

Mortgage life insurance can be purchased when you sign your mortgage papers and often includes a few simple health questions from the lending institution or your mortgage broker. The premiums can be added to your monthly mortgage payments. This type of policy accomplishes the goal of not leaving your family or business partners in debt and provides the convenience of not having to seek out insurance elsewhere, but at what cost?

To start, just because you are paying the premiums, you may not necessarily be covered. This is because mortgage life insurance policies use post-claim underwriting, meaning the insurance company will only explore your medical history after a claim is made. If you have a pre-existing condition, whether you were aware of it or not, your claim could be denied. In addition, you should be aware that your policy will only pay out on the balance owing on your mortgage at the time of claim. Your monthly premium will remain level while your benefit slowly erodes over time as you pay down your mortgage.

Unlike mortgage insurance, term life insurance is an insurance policy that covers you for set number of years (ie. 5, 10, 20, or 30 years). The monthly premiums are guaranteed for the time period of your choice and the benefit level is fixed and not tied to your mortgage in any way. Medical testing, detailed questionnaires and advanced underwriting are completed before you are even issued any coverage and begin paying premiums.

Term life insurance is also portable, meaning if you switch to a different lender you do not need to apply for a new policy as you would with many mortgage life insurance policies. As mentioned, these policies require more medical questions and the insurance company may want to contact your doctor. Depending on your age and health, premiums may be higher or lower than mortgage life insurance. However, unlike mortgage insurance all medical issues are discussed upfront with less risk of a claim being denied once approved.

All about Affordable Health Insurance

This type of coverage is available not only for individuals, but there are policies meant for the entire family too. Even, there are some providers, who target on unemployed people as well. This type of policy has a lower rate of premium and deductibles, thereby making it highly affordable for low income families, who do not have any form of fund to meet sudden medical expenses. This type of affordable health insurance for low income individuals can be helpful for people, who were so far enjoying coverage from their employers, but are not getting it now just because of the layoffs or other reasons.

There are websites, who is providing instant insurance quotes from different insurance companies and they will show the plans available to an individual based on his profile. Even, if he is interested, he can get the service of an insurance agent as well. These websites provide a simple and easy-to-follow guidelines right from the process of getting the quotation, until the policy is purchased by interested people.

All that is to be done by the individual looking for an affordable option is to submit his zip code to these websites. Once this is done, he can submit the quote information form and based on the information provided by him with respect to his income, dependent family members and medical needs, the appropriate quotes will be provided and he can decide on the best.