10 Tips To Save On Healthcare Insurance
Americans shopping for their own healthcare insurance can substantially cut premiums by following 10 simple steps, according to leading insurers.
Answer Financial Inc. (http://www.answerfinancial.com), cites the following cost-saving measures:
You can save money by comparison shopping and exploring various options such as higher deductibles. The lower your deductible, the higher your premium. Comparison shopping also allows you to determine the best cost-benefit value. For example, many plans cap coverage for serious illness so premiums may be lower than one with a high cap. Always compare benefits, deductibles and premiums and if you have a preferred physician, make sure that he or she is a participant in your plan.
Practice preventive care
Work out a schedule of preventive health screenings with your physician that are appropriate for your age and gender. Private screening companies offer a series of tests at low prices that can show if you need more intense screenings. The lower your medical bills, the lower your premiums will be, but don't skimp on the basics.
Take an active role in health care decisions
Take the time to build a good relationship with your doctor and participate actively in your care. Every test and drug has some risk involved, and some tests may be defensive medicine. Ask what will happen if you choose not to take a drug or have a test. Your doctor may be able to suggest alternatives that are less risky and costly.
Avoid hospitalization whenever possible
Over half of all health care costs are for hospitalizations. Consider outpatient services or same day surgery as alternatives to hospitalization. Today there are more and better alternatives to surgery; always do your research before any major medical procedure.
Understand health risks
Good lifestyle choices, such as regular exercise and consumption of vegetables and fruits, have proven to make a huge positive difference on health even when started in older years. Choices such as smoking, alcohol and drug use, and poor nutrition contribute to a higher risk for health problems.
Contribute to employer sponsored healthcare savings account (HSA)
These tax-protected accounts of up to $10,000 annually can cover everything from the cost of band-aids to co-payments on doctor visits. HSA's can be established by employers that only offer high-deductible healthcare insurance ($1,000 and over). HSA legislations went into effect last year and more employers are expected to set these up as a way to decrease insurance costs and offer a tax benefit for their employees.
Know what your medical benefits cover
Carefully study the medical benefits of various plans and always compare before you purchase. If you have a managed care plan, know about the plan's grievance procedure and use it if you don't feel you are getting adequate care. ? do not be afraid to ask questions
Save the emergency room for emergencies
Emergency room charges can be much more costly than a doctor's visit. These visits will also drive up your premium.
Check your hospital and doctor bills carefully
Billing errors are a common occurrence. Notify your hospital and health plan promptly when errors are found.
Try home remedies first
Eight out of 10 health problems can be treated at home. Make sure you have good first aid equipment on hand such as antibiotic cream and various size bandages. When you feel a cold coming on, try rest and over-the-counter treatments. By doing a good job of self-care, you can lower your health care costs by reducing doctor visits.
For more information, go to http://www.answerfinancial.com.
Steve Kroll is senior vice president of marketing at Answer Financial, Inc. (http://www.answerfinancial.com). An acknowledged expert in consumer marketing, he has more than 17 years of experience as an executive in the financial services industry including six as president of his own consulting firm, The Kroll Group, Inc., which specialized in retail financial products and payment systems. Its client base included affinity groups, Fortune 500 companies, management consulting firms and advertising agencies. Kroll's marketing accomplishments include developing insurance and investment product offerings for Charles Schwab, Citibank, Household International and The Signature Group. He also has created multiple-useage incentive and retention programs for some of the nation's leading credit card issuers and developed new lifestyle-and affinity-related credit cards that delivered an above-average response and usage rate. Kroll has also assisted in the development and marketing of Internet-based financial services for Wells Fargo, NYCE and American Skandia.
What Price For Your Health?
How do you put a value good health? For many it is priceless. So how much are you prepared to pay to seek the best medical advice available?Private health insurance is one of those lifestyle choices all us of face.Do you go with the system and use the health safety net that the public health-care program provides to all Australians? Or seek the extra security and choice provided by private health insurance?About a third of all adult Australians have private health insurance with the industry worth $5 billion dollars a year.But that figure is likely to incre...(related: Insurance)
Terrorism: Acts Of Terrorism: When Will Insurance Respond?
Insurance policies provide financial protection in a broad range of circumstances but each type of product specifies certain situations where the policy will not respond. These vary from one type of product to another, and can vary in detail between one insurer and another. It is important to check the details of your individual policy. However the questions and answers below seek to set out the usual approach for each of the main types of insurance.If you have specific queries on your policy you should approach your insurer or broker.Property coverWill my home be covered if it is damaged or destroyed in a terrorist attack?Yes. Household, buil...(related: Insurance)
Life Settlement: Towards A Free Market For Life Insurance
The Life Settlement market is all about providing due access to needed cash from existing life insurance.This so-called free market referred to as the life insurance industry's secondary market is based on a central premise, namely that the value of life insurance is best determined...(related: Insurance)
Affordable Life Insurance!
So, you've decided to purchase life insurance. Well then, you have made a good decision! If you have dependents, you know that you must provide for them long after you are gone. Buying life insurance shouldn't be a budget buster either. Take a look at the following options which can help you save big time!Shop Online: There are several companies that wil...(related: Insurance)
Mortgage Life Insurance
Owning a home is a dream for most of us, although it is an expensive one. The monthly payments usually take up a big slice of our monthly income, and the sudden loss in the event of you or your spouse's early death may leave your survivors unable to make payments. To make your family is protected from financial hardship, consider Pick-a-Term Mortgage Protection insurance.Pick-a-Term M...(related: Insurance)
Auto Insurance For Young Drivers
The biggest worry of most parents today is their children growing up and beginning to drive. They dread having to add them to their auto insurance policy because of the increase in premium. Unfortunately, all children grow up and when they start driving this has to be done. There are several reasons why insurance for young drivers is so high.The first reason that premiums are high for young drivers is their lack of driving experience. You will need to have, at the least, over three years driving to be quoted a lower rate.Next is their age itself.. If they are under the age of 25 the rate will mostly likely be fairly high. Normally a single male driver rates higher than a single female. This...(related: Insurance)
Does An Hsa Cover Alternative Medicine?
A Health Savings Account (HSA) does not really cover alternative medicine. However, there is a bit more to it.A person using an HSA can withdraw money from this special type of savings account for any type of "approved medical expense." Approved by whom? The IRS.So, the IRS pretty much thinks that proper medical expenses are any types of Western medicine ? pharmaceutical drugs, surgery, doctor visits, etc.However, there are a few things on the list that are alternative medical options. Chiropractors are on the list. So is acupuncture.With acupuncture, it must be considered "medically necessary." That means that a doctor (MD or DO) must say that h...(related: Insurance)
Term Life Insurance Quotes For Singles
Term life insurance quotes are rarely a concern of single people, but they should be. Unfortunately, there is a misconception that term life is something owned only by families in the event that the chief breadwinner dies.Term life insurance quotes and policies should be on the minds of every...(related: Insurance)
Long-term Care Insurance: Eldercare Solution
When I suddenly had to become a fulltime caregiver to my elderly parents, both with health problems and starting to develop deme...(related: Insurance)
Disaster Decision - Do You Need Insurance?
The expenses involved with owning a home can be overwhelming at times - routine maintenance, repairs, seasonal preparations, improvements. Not to mention taxes, fees, and all those monthly bills. Some homeowners, in trying to reduce their expenses, wonder if they really need disaster insurance.Disaster insurance is typically defined as additional homeowner's insurance to cover events like hurricanes, tornadoes, earthquakes, and floods. Home insurance policies typically cover hurricanes and tornadoes (review your policy to be certain in covers damage from such events). But often damage from floods and earthquakes isn't covered. This extra insurance, if desired, must be purchased in addition to your standard homeowner policy, and it can be expensive, depending o...(related: Insurance)
California Catering Truck Insurance
Catering truck insuranceNot many agents/brokers write catering truck insurance as they don't have a contract with companies that will write that type of coverage. There's a certain type of knowledge needed to write the risk with catering truck insurance properly. There are basically (2) categories of operators:They are, hot trucks and Mobile Food Preparation Vehicles (MFPV), which allow food to be prepared as customers order, and cold trucks, Industrial Catering Vehicles (ICV), which sell only prepackaged foods....(related: Insurance)