Friday, March 16, 2007
Finding A Lost Life Insurance Policy - What Can You Do? by Terry Edwards
Do you know what to do about finding a lost life insurance policy? You may not think too much about this, but for many people, this is an everyday occurrence. They lose a loved one and know they carried a life insurance policy, but they can't find it. They have no idea who the life insurance company was that wrote the policy.
This happens a lot. In fact, over one-fourth of all life insurance death benefits are never claimed. That is amazing. The policies were paid for over the years in the event of the insured's death to protect their family and now no one has any idea where the missing life insurance policy is.
Under federal law, all death benefits that are unclaimed go into a trust until they are ever claimed. Consider that last year nearly $23 billion was put into the fund, with only $1 billion getting claimed.
What can you do in the event you know there is missing life insurance policy?
1. If you have access to their personal records, go through old bank statements or canceled checks to see if they paid any insurance companies.
2. Did they have a personal lawyer or accountant who may have known about any old policies?
3. Talk with a past employer about any group life insurance policy that may have existed.
4. Get in touch with the Medical Information Bureau. They track all requested medical records by insurance companies for the past 7 years. So, if they took out the policy during this time period, most likely the MIB will know about it. You can find more information about them online.
5. Look at the mail that continues to be delivered after the person's death. If it was a policy that was still being paid for, you'll see premium notices.
6. Look at income tax returns to see if interest dividends on any life policy were claimed.
There is no time limit on claiming the benefits of any missing life insurance policy that you are the beneficiary of. It can be 25 years later and the company will still pay you the proceeds.
Finding a lost life insurance policy may not be the easiest thing to do, but with patience and a little detective work, you should be able to track it down in a short period of time.
All Rights Reserved Worldwide. Reprint Rights: You may reprint this article as long as you leave all of the links active and do not edit the article in any way.
About the Author
You can find out more about Finding A Lost Life Insurance Policy as well as information on everything having to do with life insurance at http://www.Life-Insurance.InfoFromA-z.com
This happens a lot. In fact, over one-fourth of all life insurance death benefits are never claimed. That is amazing. The policies were paid for over the years in the event of the insured's death to protect their family and now no one has any idea where the missing life insurance policy is.
Under federal law, all death benefits that are unclaimed go into a trust until they are ever claimed. Consider that last year nearly $23 billion was put into the fund, with only $1 billion getting claimed.
What can you do in the event you know there is missing life insurance policy?
1. If you have access to their personal records, go through old bank statements or canceled checks to see if they paid any insurance companies.
2. Did they have a personal lawyer or accountant who may have known about any old policies?
3. Talk with a past employer about any group life insurance policy that may have existed.
4. Get in touch with the Medical Information Bureau. They track all requested medical records by insurance companies for the past 7 years. So, if they took out the policy during this time period, most likely the MIB will know about it. You can find more information about them online.
5. Look at the mail that continues to be delivered after the person's death. If it was a policy that was still being paid for, you'll see premium notices.
6. Look at income tax returns to see if interest dividends on any life policy were claimed.
There is no time limit on claiming the benefits of any missing life insurance policy that you are the beneficiary of. It can be 25 years later and the company will still pay you the proceeds.
Finding a lost life insurance policy may not be the easiest thing to do, but with patience and a little detective work, you should be able to track it down in a short period of time.
All Rights Reserved Worldwide. Reprint Rights: You may reprint this article as long as you leave all of the links active and do not edit the article in any way.
About the Author
You can find out more about Finding A Lost Life Insurance Policy as well as information on everything having to do with life insurance at http://www.Life-Insurance.InfoFromA-z.com
Thursday, March 15, 2007
State Funded Child Health Insurance by Adam Heist
There is no need to stress how important healthcare is for children. To add to this, in the US, there is no federal or state blanket medical coverage for children.
Parents usually get coverage for their children's health by their individual or hob-based healthcare insurances. But these plans may not be versatile enough to provide coverage for children. For this reason, it is necessary to opt for state-funded health insurance for children. This could be the best answer to provide cover for children of working families. These people may be earning too much to qualify for Medicaid assistance; however their earnings may still not be enough to handle any healthcare expenses that may come their way.
Medicaid is one of the federally funded programs available to the US citizens from low-income families to cover for their medical expenses. Families insured with Medicaid are also eligible to get prescription drugs at discounted rates.
The delivery of Medicaid differs from state to state. The internet could be valuable in giving information about the applicability of Medicaid in your own state. Also the Medicaid office can be accessed via the phone or email for more information.
One basic question to ask is what the disqualifying factor for Medicaid assistance is. This is usually a high income, but you'll need to know how much. As them about the guidelines they follow in determining the income.
Statistics reveal that more and more children are getting enrolled in Medicaid insurance programs. In the late 1980s there were only about 16% children enrolled with Medicaid; not the figure has crossed 20%. Even the children who have any kind of insurance are increasing in number - from 13.1% to 15.4%. The Centers for Medicare and Medicaid Services website is stating that the reason for the increase in the number of children is that fewer children are being eligible under company-sponsored plans.
In 1997, the SCHIP was created in order to provide children below 19 years to avail of medical insurance. SCHIP stands for State Children's Health Insurance Program. It also has guidelines and determining factors that vary from state to state. Children whose families have an annual income of up to $36,200 are eligible for services such as visiting doctors, hospitalization, immunization, prescription and even emergency room treatments. If a child qualifies, then there would be only a nominal fee to be paid for getting these services. SCHIP also covers ocular, dental and medical equipment costs in some states.
Millions of children are getting coverage under SCHIP every year, but this is nothing to rejoice about, considering that millions of children do not have any kind of insurance. If a child is uninsured, there is a danger of him/her being bereft of medical care, which could become a life-threatening situation.
Immigrant families are generally worried about whether or not their children will be enrolled in some healthcare program like Medicaid or SCHIP. Immigration officials would consider such children for long-term health care such as mental facility or nursing home treatments. There are some restrictions, but one the whole, the facilities to immigrant children are same as for citizens.
The importance of enrolling your child in a healthcare program cannot be stressed enough. These plans are needed right from the time the child is born up to the time when the child becomes an adult old enough to look after his/her needs.
About the Author
Adam Heist has been writing on the internet for many years now. Adam currently works day and night
on his website Secured Loans. For more
information on this topic please visit his website today.
Parents usually get coverage for their children's health by their individual or hob-based healthcare insurances. But these plans may not be versatile enough to provide coverage for children. For this reason, it is necessary to opt for state-funded health insurance for children. This could be the best answer to provide cover for children of working families. These people may be earning too much to qualify for Medicaid assistance; however their earnings may still not be enough to handle any healthcare expenses that may come their way.
Medicaid is one of the federally funded programs available to the US citizens from low-income families to cover for their medical expenses. Families insured with Medicaid are also eligible to get prescription drugs at discounted rates.
The delivery of Medicaid differs from state to state. The internet could be valuable in giving information about the applicability of Medicaid in your own state. Also the Medicaid office can be accessed via the phone or email for more information.
One basic question to ask is what the disqualifying factor for Medicaid assistance is. This is usually a high income, but you'll need to know how much. As them about the guidelines they follow in determining the income.
Statistics reveal that more and more children are getting enrolled in Medicaid insurance programs. In the late 1980s there were only about 16% children enrolled with Medicaid; not the figure has crossed 20%. Even the children who have any kind of insurance are increasing in number - from 13.1% to 15.4%. The Centers for Medicare and Medicaid Services website is stating that the reason for the increase in the number of children is that fewer children are being eligible under company-sponsored plans.
In 1997, the SCHIP was created in order to provide children below 19 years to avail of medical insurance. SCHIP stands for State Children's Health Insurance Program. It also has guidelines and determining factors that vary from state to state. Children whose families have an annual income of up to $36,200 are eligible for services such as visiting doctors, hospitalization, immunization, prescription and even emergency room treatments. If a child qualifies, then there would be only a nominal fee to be paid for getting these services. SCHIP also covers ocular, dental and medical equipment costs in some states.
Millions of children are getting coverage under SCHIP every year, but this is nothing to rejoice about, considering that millions of children do not have any kind of insurance. If a child is uninsured, there is a danger of him/her being bereft of medical care, which could become a life-threatening situation.
Immigrant families are generally worried about whether or not their children will be enrolled in some healthcare program like Medicaid or SCHIP. Immigration officials would consider such children for long-term health care such as mental facility or nursing home treatments. There are some restrictions, but one the whole, the facilities to immigrant children are same as for citizens.
The importance of enrolling your child in a healthcare program cannot be stressed enough. These plans are needed right from the time the child is born up to the time when the child becomes an adult old enough to look after his/her needs.
About the Author
Adam Heist has been writing on the internet for many years now. Adam currently works day and night
on his website Secured Loans. For more
information on this topic please visit his website today.
Health Insurance Basics In Texas by Melih Oztalay
Health insurance. Everyone needs it, but not everyone has it. And with medical expenses on a seemingly endless rise, paying out-of-pocket for them could land you in the poor house. So when choosing a health insurance plan, it's good to know the basics to help you make better, more financially sound choices when selecting a plan.
Health insurance plans generally fall into one of three categories: indemnity plans, also known as reimbursement plans, preferred provider plans (PPOs), and managed care plans (HMOs).
An indemnity plan allows you to choose your own doctors and it completely pays for your medical expenses, either in full or according to a schedule of benefits. The schedule of benefits may be substantially less than your actual costs. Preferred provider plans and managed care plans can provide broader coverage, but they involve an arrangement between the insurer and a specified network of health-care providers. In addition, managed care plans require pre-approval of many health care services. For example, an HMO may require that a primary care physician in its network coordinate all of your care as well as refer you to specialists that belong exclusively to the network.
No matter which kind of health insurance you buy, make sure it provides you with the right kinds of coverage. And when it comes to coverage, a good health insurance plan should offer several types. For example, hospital expense insurance pays room and board as well as incidental services costs if you're hospitalized. A surgical expense insurance covers surgeons' fees and all other related costs. A physicians' expense insurance policy pays for visits to a doctor's office or when a doctor's visits you in the hospital. Finally, major medical insurance offers very broad coverage with an extremely high maximum benefit that's designed to protect you against losses due to serious illness or injury.
So what might be covered in a health insurance plan? When comparing plans, make sure they provide additional benefits that you may need, including: o Prescription drugs o Preventive care o Mental health benefits o Maternity care o Vision care
And what can all this cost? In addition to the monthly premium expense, there may be other out-of-pocket expenses that can really add up, especially if you have children or other family members who make frequent visits a doctor. You should check to see if the health insurance plan you're considering asks you to pay any or all of the following: o Co-payment The amount paid for each visit to a health insurance provider. This is generally required by HMOs. o Deductible The amount paid toward your medical expenses, most probably annually, before the insurance company pays any claims. This is generally required by indemnity plans. o Coinsurance The percentage of your medical costs paid after reaching any applied deductibles.
Now that you've established the why and what of health insurance, you need to find out where you can get it. Health insurance can be acquired through a group plan at work or through a group affiliation, such as a school, a club, association, etc. Or you can purchase an individual plan. When buying an individual health insurance plan, you can most probably customize it for your particular needs. If you're looking for an individual plan, start by going online to compare coverages and rates from a number of companies to find the best plan and rate that meets your needs.
You now know the what's, why's and where's of the health insurance game. Your next step is to select the best health insurance plan that meets your needs. You should select one that gives you the greatest flexibility and the best benefits for the lowest cost. Since this is a major purchase, you should shop around and get several quotes before choosing a plan. But before you dive in, here are a few things to consider:
1. Co-pays, deductibles, and coinsurance requirements, which ones apply? 2. Do you have the freedom to choose your own health-care providers? 3. Does the plan you're considering cover the health services you need? 4. Does the plan you're considering work with the health-care providers you're currently using? 5. Does the plan you're considering offer family, and individual, coverage? 6. Does the plan you're considering cover pre-existing conditions? If so, is there a waiting period? FYI - The average waiting period can be three months to one year. 7. Does the insurance company you're considering have a good reputation and a positive rating from a major ratings organization? For more information, contact your state's department of insurance.
About the Author
Melih ("may-lee") Oztalay, CEO SmartFinds Internet Marketing Web: www.precedent.com EMail: melih@hsfideas.com Precedent - Health Insurance For The Rest Of Us
Health insurance plans generally fall into one of three categories: indemnity plans, also known as reimbursement plans, preferred provider plans (PPOs), and managed care plans (HMOs).
An indemnity plan allows you to choose your own doctors and it completely pays for your medical expenses, either in full or according to a schedule of benefits. The schedule of benefits may be substantially less than your actual costs. Preferred provider plans and managed care plans can provide broader coverage, but they involve an arrangement between the insurer and a specified network of health-care providers. In addition, managed care plans require pre-approval of many health care services. For example, an HMO may require that a primary care physician in its network coordinate all of your care as well as refer you to specialists that belong exclusively to the network.
No matter which kind of health insurance you buy, make sure it provides you with the right kinds of coverage. And when it comes to coverage, a good health insurance plan should offer several types. For example, hospital expense insurance pays room and board as well as incidental services costs if you're hospitalized. A surgical expense insurance covers surgeons' fees and all other related costs. A physicians' expense insurance policy pays for visits to a doctor's office or when a doctor's visits you in the hospital. Finally, major medical insurance offers very broad coverage with an extremely high maximum benefit that's designed to protect you against losses due to serious illness or injury.
So what might be covered in a health insurance plan? When comparing plans, make sure they provide additional benefits that you may need, including: o Prescription drugs o Preventive care o Mental health benefits o Maternity care o Vision care
And what can all this cost? In addition to the monthly premium expense, there may be other out-of-pocket expenses that can really add up, especially if you have children or other family members who make frequent visits a doctor. You should check to see if the health insurance plan you're considering asks you to pay any or all of the following: o Co-payment The amount paid for each visit to a health insurance provider. This is generally required by HMOs. o Deductible The amount paid toward your medical expenses, most probably annually, before the insurance company pays any claims. This is generally required by indemnity plans. o Coinsurance The percentage of your medical costs paid after reaching any applied deductibles.
Now that you've established the why and what of health insurance, you need to find out where you can get it. Health insurance can be acquired through a group plan at work or through a group affiliation, such as a school, a club, association, etc. Or you can purchase an individual plan. When buying an individual health insurance plan, you can most probably customize it for your particular needs. If you're looking for an individual plan, start by going online to compare coverages and rates from a number of companies to find the best plan and rate that meets your needs.
You now know the what's, why's and where's of the health insurance game. Your next step is to select the best health insurance plan that meets your needs. You should select one that gives you the greatest flexibility and the best benefits for the lowest cost. Since this is a major purchase, you should shop around and get several quotes before choosing a plan. But before you dive in, here are a few things to consider:
1. Co-pays, deductibles, and coinsurance requirements, which ones apply? 2. Do you have the freedom to choose your own health-care providers? 3. Does the plan you're considering cover the health services you need? 4. Does the plan you're considering work with the health-care providers you're currently using? 5. Does the plan you're considering offer family, and individual, coverage? 6. Does the plan you're considering cover pre-existing conditions? If so, is there a waiting period? FYI - The average waiting period can be three months to one year. 7. Does the insurance company you're considering have a good reputation and a positive rating from a major ratings organization? For more information, contact your state's department of insurance.
About the Author
Melih ("may-lee") Oztalay, CEO SmartFinds Internet Marketing Web: www.precedent.com EMail: melih@hsfideas.com Precedent - Health Insurance For The Rest Of Us
Death By Lack Of Medical Insurance: An Ignored Truth by Jacob Jaffe
Do you know that Americans suffer 18,000 unnecessary deaths yearly?
I was as shocked as you to realize that during the five years that have passed since the Twin Towers disaster, an estimated 90,000 Americans have died because they had no medical insurance as compared to those who were insured. Imagine -- 30 times the number killed on 9/11! These figures were carefully estimated by the Institute of Medicine, part of the National Academy of Sciences.
How could that be possible in the wealthiest nation on earth?
I had only a vague idea of the problem confronting 41 percent of nonelderly adults with incomes between $20,000 and $40,000 who are without health insurance until I read an article by the economist Paul Krugman. When illness strikes many of these people, they avoid going to doctors until their conditions become serious. If and when they do go, they may not have appropriate medical follow up and have trouble filling prescriptions. With savings wiped out, they have difficulty surviving and may go into bankruptcy. The irony is that these uninsured, when their savings are wiped out, end up getting medical care at public expense in costly hospital emergency rooms or in intensive care. Other countries that cover medical expenses for all their citizens spend less for medical care and have healthier and longer living citizens!
How could such a condition--basic medical care-- be lacking in the wealthiest nation on the planet that flaunts itself as a model of democracy and concern for its citizens? Do we not care? Or have we become a nation of the have and have-nots, with the wealthy selfishly interested in taking care of themselves while those with much less money not having the political clout to change the situation? Do those who have coverage ignore those who don't have coverage? Do people just not know? The Krugman article and the Institute of Medicine's report were in the back pages of some newspapers or not reported at all in newspapers or on television. Or have we become cynical that there can be any change when self-serving medical institutions and health insurers are more interested in their vested interests than the welfare of the entire community? Are our politicians wary of such far-reaching changes now as they were years ago when Medicare was first proposed?
I was roused to write this article, as well as to contact my Washington political representatives. Hopefully, you reading this will be similarly aroused and make your views known. When I was a child (and I'm not that ancient!) there was no social security, no unemployment insurance and the absence of the many safety nets that we now take for granted (described in my novel, "Land of Dreams"). In my novel "Hobgoblins," I describe the machinations of the unscrupulous business tycoons and their bought politicians who threaten our democracy.
In this article, I hope to help alert the grass roots (and metaphorically watering them) so that the sturdy tree of medical care will have branches and leaves covering all Americans.
About the Author
Jacob Jaffe is a psychologist who has taught at Columbia and the City Universities. He has published two novels. "Hobgoblins" is a political-psychological thriller about the corruptions of American politics and "Land Of Dreams" a family saga. Visit his web site at http://www.jaffeauthor.com
I was as shocked as you to realize that during the five years that have passed since the Twin Towers disaster, an estimated 90,000 Americans have died because they had no medical insurance as compared to those who were insured. Imagine -- 30 times the number killed on 9/11! These figures were carefully estimated by the Institute of Medicine, part of the National Academy of Sciences.
How could that be possible in the wealthiest nation on earth?
I had only a vague idea of the problem confronting 41 percent of nonelderly adults with incomes between $20,000 and $40,000 who are without health insurance until I read an article by the economist Paul Krugman. When illness strikes many of these people, they avoid going to doctors until their conditions become serious. If and when they do go, they may not have appropriate medical follow up and have trouble filling prescriptions. With savings wiped out, they have difficulty surviving and may go into bankruptcy. The irony is that these uninsured, when their savings are wiped out, end up getting medical care at public expense in costly hospital emergency rooms or in intensive care. Other countries that cover medical expenses for all their citizens spend less for medical care and have healthier and longer living citizens!
How could such a condition--basic medical care-- be lacking in the wealthiest nation on the planet that flaunts itself as a model of democracy and concern for its citizens? Do we not care? Or have we become a nation of the have and have-nots, with the wealthy selfishly interested in taking care of themselves while those with much less money not having the political clout to change the situation? Do those who have coverage ignore those who don't have coverage? Do people just not know? The Krugman article and the Institute of Medicine's report were in the back pages of some newspapers or not reported at all in newspapers or on television. Or have we become cynical that there can be any change when self-serving medical institutions and health insurers are more interested in their vested interests than the welfare of the entire community? Are our politicians wary of such far-reaching changes now as they were years ago when Medicare was first proposed?
I was roused to write this article, as well as to contact my Washington political representatives. Hopefully, you reading this will be similarly aroused and make your views known. When I was a child (and I'm not that ancient!) there was no social security, no unemployment insurance and the absence of the many safety nets that we now take for granted (described in my novel, "Land of Dreams"). In my novel "Hobgoblins," I describe the machinations of the unscrupulous business tycoons and their bought politicians who threaten our democracy.
In this article, I hope to help alert the grass roots (and metaphorically watering them) so that the sturdy tree of medical care will have branches and leaves covering all Americans.
About the Author
Jacob Jaffe is a psychologist who has taught at Columbia and the City Universities. He has published two novels. "Hobgoblins" is a political-psychological thriller about the corruptions of American politics and "Land Of Dreams" a family saga. Visit his web site at http://www.jaffeauthor.com
How You Can Reduce Medical Expenses For Health Insurance by Melih Oztalay
Healthcare costs on the rise, but there are a number of ways to lower your medical expenses.
An ounce of prevention. One of the most effective ways to lower medical expenses, especially over the long haul, is to maintain a healthy lifestyle by:
* Taking advantage of wellness programs * Maintaining a healthy weight * Exercising regularly * Kicking unhealthy habits (e.g., smoking) * Getting regular checkups.
If your health insurance provides little to no coverage in certain areas, or if you lack health insurance coverage, look into free health screenings. Local clinics and hospitals often offer a variety of screenings, such as blood pressure, cholesterol, and mammograms. If it's free, don't hesitate to take advantage of it!
Prescriptions on the cheap. If you take prescription drugs regularly, they can cost you plenty. But it's not hard to find ways to save money. For example, order your prescriptions through the mail, through a traditional or online pharmacy. If you belong to a prescription drug plan through your health insurance, you can probably get a three-month supply through the mail for the same price as a one-month supply at the local pharmacy. And if possible, ask your pharmacist or doctor to prescribe a less-expensive generic drug.
Keep an eye on your bills. Medical bills can be confusing, but taking some time to review the charges may save you money. Make sure your bill accurately reflects the procedures you underwent and applies the proper insurance coverage you may have. It's not too uncommon to have wrong computer codes where you're billed for healthcare you never received. Contact the company's billing office immediately if you find a mistake.
Togetherness can save money. A number of married couples keep separate health insurance coverage even though it may cost them more to do so. Take a look at both your and your spouse's coverage and see if it makes sense for either of you to join the other's plan. Be aware that most plans allow the addition of a spouse within a certain time period after getting married - for example, 30 days. If that's the case, you may have to wait for the plan's annual open enrollment period.
Keep track of it. With tax time right around the corner, you may be able to deduct certain medical expenses if you itemize. In order to itemize, your total medical expenses need to exceed (more)
7.5 percent of your adjusted gross income. The allowable medical expenses include everything from health-care services to medical aids, which include eyeglasses, hearing aids, etc. Keep records of these expenses if you think you'll be able to deduct them for the tax year.
It doesn't hurt to haggle. Many people don't realize that they can sometimes negotiate to lower their medical bills. It may not always work, but it doesn't hurt to ask your doctor, hospital, or pharmacy if they're willing bargain with you. Before you start negotiations, do some research on what other health-care providers in your area are charging. In addition, your health-care provider may lower their price if you pay in cash up front.
Save a little for a rainy day. If your employer offers a flexible spending plan that allows you to put pretax dollars in an account, jump on it. With a flexible spending plan, you'll be reimbursed for out-of-pocket medical expenses, such as prescription drugs, dental care, and co-payments. And because flexible spending contributions are taken out of your pay before taxes are calculated, you use pretax dollars to pay your medical bills.
Know who's covering you. These days, insurance companies often provide benefits designed to help you stay safe and healthy. One example - you may be able to receive discounts on vitamins, alternative medicines, health club memberships, or bike helmets. Also examine the range of coverage your health plan offers. It may cover dental care for young children, chiropractic care, and acupuncture. Read all materials provided by your insurer thoroughly to find out what products and services are available before you pay them out of pocket.
It's your money, shop around. If your employer doesn't provide health insurance, you may have to obtain your own coverage. In order to get good coverage at an affordable price, you'll need to shop around. Premiums vary widely, so you can save some cash if you get quotes from several companies. Examine each plan's coverage and features, and take into account all exclusions, limitations, and the freedom to choose health-care providers. It's also important to find out how much your out-of-pocket expenses will be as far as co-payments, coinsurance, and deductibles are considered. Be careful. With some plans, small amounts of money can add up quickly with frequent visits to your doctor.
About the Author
Melih ("may-lee") Oztalay, CEO SmartFinds Internet Marketing Web: www.precedent.com EMail: melih@hsfideas.com Precedent - Health Insurance For The Rest Of Us
An ounce of prevention. One of the most effective ways to lower medical expenses, especially over the long haul, is to maintain a healthy lifestyle by:
* Taking advantage of wellness programs * Maintaining a healthy weight * Exercising regularly * Kicking unhealthy habits (e.g., smoking) * Getting regular checkups.
If your health insurance provides little to no coverage in certain areas, or if you lack health insurance coverage, look into free health screenings. Local clinics and hospitals often offer a variety of screenings, such as blood pressure, cholesterol, and mammograms. If it's free, don't hesitate to take advantage of it!
Prescriptions on the cheap. If you take prescription drugs regularly, they can cost you plenty. But it's not hard to find ways to save money. For example, order your prescriptions through the mail, through a traditional or online pharmacy. If you belong to a prescription drug plan through your health insurance, you can probably get a three-month supply through the mail for the same price as a one-month supply at the local pharmacy. And if possible, ask your pharmacist or doctor to prescribe a less-expensive generic drug.
Keep an eye on your bills. Medical bills can be confusing, but taking some time to review the charges may save you money. Make sure your bill accurately reflects the procedures you underwent and applies the proper insurance coverage you may have. It's not too uncommon to have wrong computer codes where you're billed for healthcare you never received. Contact the company's billing office immediately if you find a mistake.
Togetherness can save money. A number of married couples keep separate health insurance coverage even though it may cost them more to do so. Take a look at both your and your spouse's coverage and see if it makes sense for either of you to join the other's plan. Be aware that most plans allow the addition of a spouse within a certain time period after getting married - for example, 30 days. If that's the case, you may have to wait for the plan's annual open enrollment period.
Keep track of it. With tax time right around the corner, you may be able to deduct certain medical expenses if you itemize. In order to itemize, your total medical expenses need to exceed (more)
7.5 percent of your adjusted gross income. The allowable medical expenses include everything from health-care services to medical aids, which include eyeglasses, hearing aids, etc. Keep records of these expenses if you think you'll be able to deduct them for the tax year.
It doesn't hurt to haggle. Many people don't realize that they can sometimes negotiate to lower their medical bills. It may not always work, but it doesn't hurt to ask your doctor, hospital, or pharmacy if they're willing bargain with you. Before you start negotiations, do some research on what other health-care providers in your area are charging. In addition, your health-care provider may lower their price if you pay in cash up front.
Save a little for a rainy day. If your employer offers a flexible spending plan that allows you to put pretax dollars in an account, jump on it. With a flexible spending plan, you'll be reimbursed for out-of-pocket medical expenses, such as prescription drugs, dental care, and co-payments. And because flexible spending contributions are taken out of your pay before taxes are calculated, you use pretax dollars to pay your medical bills.
Know who's covering you. These days, insurance companies often provide benefits designed to help you stay safe and healthy. One example - you may be able to receive discounts on vitamins, alternative medicines, health club memberships, or bike helmets. Also examine the range of coverage your health plan offers. It may cover dental care for young children, chiropractic care, and acupuncture. Read all materials provided by your insurer thoroughly to find out what products and services are available before you pay them out of pocket.
It's your money, shop around. If your employer doesn't provide health insurance, you may have to obtain your own coverage. In order to get good coverage at an affordable price, you'll need to shop around. Premiums vary widely, so you can save some cash if you get quotes from several companies. Examine each plan's coverage and features, and take into account all exclusions, limitations, and the freedom to choose health-care providers. It's also important to find out how much your out-of-pocket expenses will be as far as co-payments, coinsurance, and deductibles are considered. Be careful. With some plans, small amounts of money can add up quickly with frequent visits to your doctor.
About the Author
Melih ("may-lee") Oztalay, CEO SmartFinds Internet Marketing Web: www.precedent.com EMail: melih@hsfideas.com Precedent - Health Insurance For The Rest Of Us
Insurance: Inaccurate Medical Records Could Give You A Heart Attack by Jeffery Voudrie
You may be paying too much for health, life or long-term care insurance! I know because a life insurance company recently tried to charge me double. My experience may save you money and keep you from being turned down the next time you apply for insurance.
I recently applied for some additional life insurance. As usual, a nurse came to my home, asked me some questions, took some samples and did an EKG. I wasn't concerned because I am generally in good health. That's why I was so surprised when the life insurance company wanted to charge me twice the amount I was expecting to pay.
Come to find out, they thought I'd had a heart attack! Now I may not be the sharpest guy around, but surely I'd know if I'd had a heart attack. In order to get the rate I expected, it would now be up to me to prove that their conclusion was wrong.
Worse, the insurance company reported the test results to a little known association called the MIB. Just like a credit report affects your ability to get a loan, the MIB, or the Medical Information Bureau, is like a health report that is consulted by insurance companies. Every insurance company I apply to in the future will also think something is seriously wrong with my heart. That means I could be turned down for coverage or charged a much higher rate. What's on your health report can affect you, too.
For 100 years, the Medical Information Bureau has recorded any health problems uncovered during the underwriting process. By cross-referencing your application against their records, the MIB reduces insurance fraud and makes it easier for insurance companies to accurately assign risk and write policies. That means they can tell if you may not be telling the truth on your application.
Any time you apply for health insurance, life insurance or long term care coverage, your application is run through the MIB's database. But only 15% to 20% of applicants have an MIB record. And the MIB can't include medical records from your doctor. They only track information gleaned through your application, including results from any tests the insurance company requires. So if you go to your doctor and have your blood cholesterol checked, those results won't be sent to the MIB.
If you fail to disclose a preexisting condition on an application, a red flag will be generated, which could make it more difficult to receive coverage. Also, your MIB file may contain errors. Mine certainly does. Not only are the EKG results misleading, but they also show I have another condition, which my doctor assures me I do not have. With the help of my physicians, I'm in the process of correcting these errors. This will not only save me money on my premiums, but help me qualify for insurance in the future.
The main point is that you have to be your own advocate. It's up to you to get a copy of your health record from the MIB. Having a copy of your health report prior to applying for new insurance can also help you remember a condition you may have forgotten, especially since their records go back seven years.
You also need to correct any errors it might contain. This is a tedious process at best. Since insurance companies and agents make more money if your premium is higher, they aren't as motivated to help you correct any errors. You must take the lead. Plus, you will bear the cost of any additional tests or doctors visits that may be needed to disprove their conclusions. I've had to see three doctors and have several tests to prove I'm fine.
Fortunately for me, my heart is fine. It may still take months however for the corrections to be made that will reflect an accurate medical history.
It's worth the effort. Otherwise you could jeopardize your future chances of qualifying for insurance or may have to pay far more. For just $9, you can receive a copy of your own MIB record. You can get all the details, plus other helpful information at their website, www.MIB.com.
If you'd like free, clear, unbiased advice submit your questions to www.guardingyourwealth.com/askjeff.htm.
SPECIAL REPORT:
Has this 'Investment From Hell' been recommended to you by your advisor? I hope not! This complimentary 47-page Special Report is jam-packed with solid information you need to know to protect yourself. This report could save you and your loved ones tens, even hundreds of thousands of dollars. To get your copy just click here:
http://www.guardingyourwealth.com/SpecialReports/GeneralEIA.htm
Mr. Voudrie is a Certified Financial Planner, nationally syndicated newspaper columnist and President of Legacy Planning Group, Inc., a Private Wealth Management Firm in Johnson City, TN. He can be reached toll-free at 1-877-827-1463 or at jeff@guardingyourwealth.com.
About the Author
Jeff Voudrie is president and owner of Legacy Planning Group Inc/Common Sense AdvisorsTM, in Johnson City, TN. He serves as a personal, private money manager and counselor to clients nationwide. He can be reached at jeff@guardingyourwealth.com or by calling 423-913-2950.
I recently applied for some additional life insurance. As usual, a nurse came to my home, asked me some questions, took some samples and did an EKG. I wasn't concerned because I am generally in good health. That's why I was so surprised when the life insurance company wanted to charge me twice the amount I was expecting to pay.
Come to find out, they thought I'd had a heart attack! Now I may not be the sharpest guy around, but surely I'd know if I'd had a heart attack. In order to get the rate I expected, it would now be up to me to prove that their conclusion was wrong.
Worse, the insurance company reported the test results to a little known association called the MIB. Just like a credit report affects your ability to get a loan, the MIB, or the Medical Information Bureau, is like a health report that is consulted by insurance companies. Every insurance company I apply to in the future will also think something is seriously wrong with my heart. That means I could be turned down for coverage or charged a much higher rate. What's on your health report can affect you, too.
For 100 years, the Medical Information Bureau has recorded any health problems uncovered during the underwriting process. By cross-referencing your application against their records, the MIB reduces insurance fraud and makes it easier for insurance companies to accurately assign risk and write policies. That means they can tell if you may not be telling the truth on your application.
Any time you apply for health insurance, life insurance or long term care coverage, your application is run through the MIB's database. But only 15% to 20% of applicants have an MIB record. And the MIB can't include medical records from your doctor. They only track information gleaned through your application, including results from any tests the insurance company requires. So if you go to your doctor and have your blood cholesterol checked, those results won't be sent to the MIB.
If you fail to disclose a preexisting condition on an application, a red flag will be generated, which could make it more difficult to receive coverage. Also, your MIB file may contain errors. Mine certainly does. Not only are the EKG results misleading, but they also show I have another condition, which my doctor assures me I do not have. With the help of my physicians, I'm in the process of correcting these errors. This will not only save me money on my premiums, but help me qualify for insurance in the future.
The main point is that you have to be your own advocate. It's up to you to get a copy of your health record from the MIB. Having a copy of your health report prior to applying for new insurance can also help you remember a condition you may have forgotten, especially since their records go back seven years.
You also need to correct any errors it might contain. This is a tedious process at best. Since insurance companies and agents make more money if your premium is higher, they aren't as motivated to help you correct any errors. You must take the lead. Plus, you will bear the cost of any additional tests or doctors visits that may be needed to disprove their conclusions. I've had to see three doctors and have several tests to prove I'm fine.
Fortunately for me, my heart is fine. It may still take months however for the corrections to be made that will reflect an accurate medical history.
It's worth the effort. Otherwise you could jeopardize your future chances of qualifying for insurance or may have to pay far more. For just $9, you can receive a copy of your own MIB record. You can get all the details, plus other helpful information at their website, www.MIB.com.
If you'd like free, clear, unbiased advice submit your questions to www.guardingyourwealth.com/askjeff.htm.
SPECIAL REPORT:
Has this 'Investment From Hell' been recommended to you by your advisor? I hope not! This complimentary 47-page Special Report is jam-packed with solid information you need to know to protect yourself. This report could save you and your loved ones tens, even hundreds of thousands of dollars. To get your copy just click here:
http://www.guardingyourwealth.com/SpecialReports/GeneralEIA.htm
Mr. Voudrie is a Certified Financial Planner, nationally syndicated newspaper columnist and President of Legacy Planning Group, Inc., a Private Wealth Management Firm in Johnson City, TN. He can be reached toll-free at 1-877-827-1463 or at jeff@guardingyourwealth.com.
About the Author
Jeff Voudrie is president and owner of Legacy Planning Group Inc/Common Sense AdvisorsTM, in Johnson City, TN. He serves as a personal, private money manager and counselor to clients nationwide. He can be reached at jeff@guardingyourwealth.com or by calling 423-913-2950.
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