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Posts Tagged ‘Health Insurance’

When Should You Get Health Insurance For You And Your Family?

There are some diseases, you should know them. They are simple, and they are easy to treat. But the snag is that the medication costs an incredible amount. Read the rest of this entry »

Understanding Medicare Supplement Plans

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It is however known to all that the health insurance or the Medicare insurance plans are made to pay for the costs that you may need to bear in the course of your lifetime. Usually the Medicare plans are for men and women of 65 years of age and older. But the fact is that even if you are having an Original Medicare policy, it is not going to pay for all your medical costs. There always remain some gaps between the policy coverage of the Original Medicare coverage and the actual cost payable therefore there is the need of having a Medicare Supplement Plan so that you may not have to bear those extra costs that are left behind by your original Medicare plan. Medicare Supplement Plans are supplementary insurance plans sold by the private insurance companies to fill up those gaps left behind by the Original Medicare policies. It is perhaps for this reason these plans are also known as the Medigap policies. In the recent studies it is seen that about 18% of Americans are going for the Medicare Supplement Plans along with their Original Medicare policies.

There are twelve standard Medigap policies. These policies are under the total administration of the private insurance companies. All of the Medigap policies from A through L have their own set of benefits. But along with that it is to be remembered that the Medicare Supplement Plans under the same letter cover should provide the same benefits irrespective of the company selling them. Therefore from whatever company you may purchase the Medicare Supplement Plans you are going to get the same benefits. But the amount of premium may vary with each company.

It is however needed that you go through all the offer documents of all the policies before you may choose the right one for yourself. In that case you may need to seek the help of some insurance agent so that he may guide you through the plans and help you choosing the right one. Insurance agents are much more aware about the pricings of the premiums of the different insurance companies, therefore seeking the help of an insurance agent can prove to be much helpful for you. Moreover it should be kept in mind that the Medicare Supplement Plans do not work with the Medicare Advantage plans therefore if you are already having Medicare Advantage plan you cannot enroll yourself for any Medicare Supplement Plan unless you switch over to the Original Medicare.

Choosing the right Medicare Supplement Plan is very much essential. The fact is that almost all the Medigap policies provides the basic benefits of the Plans A and B therefore you need to choose such a plan that can provide you those benefits that you would be needing the most. There are some plans like the plans from J through L seems to provide lesser benefits but in original saves a lot of your money in the form of yearly deductibles. This you should notice very carefully before choosing your Medicare Supplement Plans.

Useful Discussion on Medicare Supplement Insurance Plans

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The Medicare Supplement Plans as it is known are supplementary insurance plans that are meant to bridge the gap between the policy coverage of the Original Medicare and the actual medical bill payable. The fact is that the Original Medicare has several gaps that doesn’t pay for all the medical services that you may need. Therefore if you are already a beneficiary of the Original Medicare plan you may need to get a Medicare Supplement Plan along with it to meet all your medical costs. This is a kind of health insurance plan that helps you pay for some of your costs in the original Medicare and also for some of the cost for some medical aid that it does not cover.

These supplementary insurance policies are sold by the private insurance companies and are under their sole administration. According to the law the private insurance companies can offer only twelve standard Medicare Supplement Insurance Plans, named A through L. each of these plans have their own set of benefits, different from the others. However, almost all of the twelve Medigap policies provide the basic benefits of Medicare part A and B. Therefore it is always recommended to study all the Medigap plans before deciding to choose the one that would fit the best for you. Besides that the fact that should be kept in mind is that, no matter from whatever insurance company you may purchase a particular plan, all of the plans with the same letter cover must provide the same benefits. As for example if you purchase a Medigap plan C policy, it should cover the same benefits without depending on the company that is selling the plan. However, the premium rates may vary for different companies. Therefore you are free to purchase any Medigap policy from the company you like and be sure to get the same benefits provided by the other companies.

As stated earlier all of the twelve Medigap policies covers the basic benefits, but each one of them provides some additional benefits that vary according to the plan. To give an example the Medigap plan A is the most basic plan, and all the other plans from B to L offers every benefits of Plan A and each one of them have their own set of extra coverage. Plans K-L offer similar services as Plans A-J, but the cost-sharing for the basic benefits is at different levels.

However, there are also some restrictions in Medigap policies. As for example starting from 2006, the Medigap Plans H, I and J cannot be sold to the beneficiaries of prescription-drug benefits, but the people who already had those policies can keep them. Another important thing about the Medigap policies is that no Medicare Supplement Plans can be sold to any person under the Medicare Advantage plans. Even if you are already having Medicare Supplement Plans and you switch over to Medicare Advantage plan from Original Medicare, you cannot use your Medigap benefits unless you switch back to Original Medicare. Thus it is essential to pay proper attention while choosing your health insurance policy and your Medicare Supplement Insurance Plans.

Benefits And Eligibility Criteria of Medigap Policy

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Medicare supplement plans or Medigap is the private health insurance plans that are for those people who already have a Medicare policy. The Medigap or Medicare supplement plans helps the Medicare beneficiaries to bear that extra medical cost that are left aside by the original plans. The name Medigap is suggested because it is believed that these policies bridges the gap between the Medicare coverage and the original expenses or the total bill charged.

If you are in the Original Medicare plan you are able to buy a Medicare supplement plan and both of them would pay you their share of coverage. It is to be noted that the Medigap policies are private health insurance plans and the private insurance companies can only sell them and not by any government organizations. These plans are totally administered by the private insurance companies.

But it is to be mentioned that though these plans are completely administered and sold by private insurance companies but still there are only 12 supplementary plans labeled A through L. All these plans have there separate policy coverage but the plans under the same letter cover must provide the same benefits. It means that no matter from which company you have bought the policy, they must provide the same coverage as provided by the other companies, nothing more or nothing less.

Almost all of the Medicare Supplement Plans provide the basic benefits of plan A and in addition to that they have their additional benefits. Therefore before choosing a plan for yourself you need to be very careful so that you may choose the right one for yourself and not loose the deal. Therefore seeking the help of an insurance agent can be the most fruitful as they are more aware of the policy details and the rates of different companies. Moreover it should be remembered that though the companies are bound to provide the same benefits under the same letter cover, but they have the freedom of fixing their rates. And the premium rates for the same plan may differ for different companies.

The eligibility criteria that have been fixed by most of the companies which are providing health insurance plans are as follows. To go for a Medicare supplement plan a person is required to be enrolled in part A and B of original Medicare before they can go for a Medigap policy. A person may obtain a Medigap plan on a guaranteed issue basis during the open enrollment period, which begins within 6 months of turning 65 or enrolling in Medicare Part B at 65 or older. And also that in this period no medical screening is required. But besides open enrollment the issuing insurance company may also put forth the requirement of medical screening and also may obtain an attending physicians statement if it is felt necessary. But the thing that should be kept in mind is that this policy is not compatible with any other forms of private medical coverage as for example a Medicare Advantage plan.

Recession Proof Your Health and Get One Year Completely Free!

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Recession proof your health! Are you paying high deductibles, under-insured or without insurance? Get Dental, Vision, Prescription and Chiropractic care for just $14.95 a month for an individual or $19.95 a month for an entire household, related or not up to 20 people. Get all this with the nations premier health benefits organization. There are no limits on visits, specialists and cosmetic dentistry included. No waiting periods, orthodontics and on-going dental problems okay. No age limit or claim forms to fill out. Do you have a pre-existing condition? No problem. Diabetic? We have a special program formed just for you. Need laser eye surgery or pay over $90.00 a month for prescriptions? We also have a program formed just for you. Also, ask me how to get your first year of benefits, completely free! You could even qualify to get 2 or more years, for you and your entire household, completely free. No contracts or other obligations. Up to 80% off on all services.

” In January I needed a root canal and it would have cost me $844.00, instead using my benefits I only paid $114.00″ – Rhonda D.    Dallas, Texas

” I used to pay $33.00 everytime I got adjusted at the chiropractor, now with using my benefits I only pay $11.00″ – Ralph S.  Springfield, Missouri

” I needed to have three blood tests done. They set me up, had those blood tests done. They sent it to my doctor. The bill was $275, but with my benefits, I only paid $48.” Don R.   Lancaster, TX

Don’t miss out on the savings. Call now to start saving 1-888-228-0006.

Insurance Policies – A Ray of Hope

BL Oct 24 09 Insurance Policy

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The life is uncertain and in today’s accident prone world, anything may happen anytime without any prior notification. You must secure yourself and your belongings as to avoid a disastrous event in your personal, professional or social life.

Gone are the days when your grandpa traveled out of the hometown for the whole month and came back safely, he lived a perfect life with no hassles. The time has changed and so the living strategies. Today, a plenty of road accidents, thefts, robberies, natural and man made calamities have put our lives to a greater risk than ever and that is why, one has to opt for some life insurance, home insurance and other insurances that save our money, fortune and mental stability.

There are many ways to know about insurance policies as you can find different policies in a newspaper, magazine, pamphlets or you can simply go for insurance quote online! The internet is a non-ignorable medium to gather genuine information. You can ask for free insurance quote that majority of insurance companies offer. On the internet, you can simply compare different insurance policies and can choose between them. In some cases, the website itself will provide you with a solution that would help you to find the most appropriate insurance policy that suits your budget and requirement.

Whether you want to secure your vehicle or your home, insurances are available and that would never let you down. However, you have to check out for the best insurance scheme that offers maximum coverage with least premium. Also, try to find out the genuine insurance provider as if you fall in some wrong hands, you may end up with a great loss of money and your risk will not be covered leaving you heavy mental depression.

The insurance scheme depends upon the requirement and certain criteria of an individual. For instance, some policies come with quarterly premium and others with yearly or half yearly. Likewise, the coverage in any insurance would depend upon the premium as the plan that covers all damage and loss of your properties would cost you higher as compared to a scheme that just covers your loss or damage due to natural calamity.

The health insurance is something to be carefully chosen. This is because there are many insurance providers that cover specific illnesses and not all. Health ailments such as dental and health conditions such as pregnancy many not be covered by a low-installment premium policy. However, there are many providers that cover all and everything that comes in your or your family members’ health.

A proper plan and regular payment of installment would make your life secure and happy.

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Don’t Scrimp On Insurance

The economy is in a tough place right now, many people have lost their jobs and everyone is looking for places to either save money, or make outright cuts in the household budget. One place to avoid scrimping and saving is with your insurance. To a lot of people, insurance feels like an expenditure that goes out with nothing coming in.

It’s important to remember a major aspect of all types of insurance – auto insurance, health insurance, home insurance, life insurance and renters insurance – is protection against a catastrophe or disaster. A major car accident, a burglary of your residence, a fire that destroys your home, all these things are rare and you hope to never face them, but if the unexpected happens and you are insured, the force of the disaster is not nearly as bad and you are quickly back on the track of putting your life in order again.

Probably the most important insurance to consider when economic times become difficult is health insurance. If you get your health insurance through your employer you might find your benefits being cut, or your out-of-paycheck health insurance expenses rise, or if you were to lose your job you may lose your health insurance altogether. If you become unemployed be sure to look into COBRA benefits available to you, and begin looking for personal health insurance for you and your family.

Keeping your health insurance is important for a number of reasons; the most obvious is in case of a medical emergency. Without health insurance a visit to a doctor to check out a severely sick child can be very expensive. And if you or a member of your family faces a hospital visit, or emergency surgery, the costs can be staggering.

Another consequence of not having health insurance is you and your family will likely skip routine check-ups and other medical visits. The long-term health care costs for missing annual medical examinations can add up if a condition that might be caught and easily treated goes undetected for a time.

Health insurance is only one area where you simply don’t want to go uninsured. Theft of your belongings is a terrible violation and made that much worse if you do not have home insurance or renters insurance to replace the items. And if you don’t have auto insurance you face fines and possible towing, not to mention you will be personally sued if you cause an accident with damages or injuries.

The economy is struggling right now and everyone is struggling along with it, but remember – you can’t afford to not have insurance.

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Compare Insurance Quotes/Plans Online – FREE Multiple Competing Insurance Quotes For Car/Auto Insurance, Compare Life Insurance, Health Insurance And Renters Insurance Quotes. Provides Insurance Quotes Comparison Facilities for Health Insurance, Renters Insurance at – www.wecompareinsurance.com

General Insurance – Save Yourself From Heavy Losses

Life assurance, also known as life insurance, is a contract between the two parties, one the person who is to be insured and other the insurance company. According to this contract the insurance company will pay the beneficiary appointed by the insured in case of the death of the insured. Also in event of other problems like illness a smaller amount is paid by the insurance company. For getting this sum, insured person pays a fixed amount of instalments after a fixed time also known as premium. Life insurance can be divided into temporary insurance and permanent insurance. Temporary insurance is generally for only the death cases for a particular period with a fixed premium. Permanent life insurance is permanent in nature and cannot be cancelled by insurer unless there is some fraud committed in the application process. Permanent life insurance can be of many types like Whole life coverage, Accidental death insurance or limited pay insurance.

 

All other types of insurances, like property insurance, health insurance, accidental insurance, fall into the category of general insurance. When going for the property insurance you should always insure against the market value of the property, so that if at some point you have to make a claim then a fine is not imposed on you. When your property suffers some accidental damage and you are claiming insurance for it then you will be paid the insurance money only for the amount you have insured and for underinsuring you will have to bear half of the insurance money. In other cases like health insurance the insurance company will foot all of your hospital bills and you can pay the bills initially in either cash which will be reimbursed to you later or in a cashless way. General insurance for property or health are necessary for every home because you face such problems on day-to-day basis and it is better if you can save some money through these insurance policies.

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Sturat enjoys writing and sharing articles on topics like life assurance and general insurance.

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