Buying International Travel Medical Insurance - What You Need To Know

Today international travel for business or pleasure keeps growing at a fast pace and is unlikely to change in the near future. The most serious problem any international traveler faces when on the move is the possibility of having a medical problem in a foreign country. International travel medical insurance goes a long way in taking care of surprise medical problems. It offers temporary medical or health insurance for US citizens and foreign nationals when traveling anywhere outside of their home country.

Some domestic health insurance plans will cover you for some procedures and expenses away from home but many don't, especially for major medical expenses. There are many types of international travel medical insurance on the market today including student travel medical insurance, travel accident insurance and even backpackers travel insurance.

It's important to know that evaluating someone who has met with an accident or become ill in an isolated place can be terribly expensive. Many international insurance companies have a bi-lingual or multi-lingual staff and on-site medical staff available 24 hours a day, seven days a week for their policyholders for consultation and medical emergencies.

One way to lower your insurance costs is to agree to pay a small upfront medical cost for any future treatment needed and make a claim from the insurance company only when the amount exceeds that amount. For example, you could agree to pay the first $200 of any medical expenses and make a claim only when the cost of the treatment goes above it.

If you find a quality insurance company, it'll take the financial worry of terrific medical expenses out of your travel experience. You can exclude a medical condition that is pre-existing which can lower your insurance costs, but you must be sure that the condition will not worsen on your trip and it could cost you a lot more. Any international traveler, expatriate or business traveler needs to be careful about the medical costs they could incur while traveling out of their home country.

Whatever compromise you choose to make in your plan between risks and costs, shop around not only for cheap international travel medical insurance plans, but also for the insurance company that gives you complete information, has open not hidden view functioning and doesn't evade any of your questions.

The time frame on your insurance policy needs to be restricted to the actual time you're out of the country; the shorter the duration will obviously reduce the cost. Some travel insurance plans don't accept hazardous vocations such as mountain climbing. After you get your insurance, in case any minor emergency medical treatment is needed, have all the expenses listed in itemized bills to make a claim when you get back home.

Getting low cost or cheap international travel medical insurance quotes online from several insurance companies is easy enough to do. The watchword in your travel insurance should be attention to the smallest of details.

Some of the insurance policies don't cover any pre-existing illnesses, and will ask for a history of any medical problems. All around the world medical costs are skyrocketing, due mostly to the advances in specialized equipment and the cost of advanced medicines and training specialists in a number of medical fields.

Finally international travel medical insurance is a must for all travelers going out of their home country. You want to make sure that evacuation coverage is included in your plan, because that can be a major expense; getting you out of a isolated or difficult location such as a cruise ship, mountain top or safari can be very costly.

Getting low cost or cheap health insurance is certainly a good possibility without giving up any quality care you might need away from home. International travel medical insurance plans quotes are easy to get online and an important travel necessity for individuals and families when they live or travel outside their home country. Just make sure you know exactly what is covered in your travel insurance policy.

Source: [http://ezinearticles.com/?Buying-International-Travel-Medical-Insurance---What-You-Need-To-Know&id=810215]

How to opt for a right medical cover?

Taken into consideration the rising number of diseases, environmental degradation, huge medical costs and changing lifestyle patterns it becomes important for people to opt for a good medical policy. If you just settle with the plan your agent sells to you or buy the cheapest one, then chances are either you may end up falling short of cover or purchase some irrelevant policy which will not cater to your exact needs. Therefore, doing a little bit of research before opting for medical insurance India plan is necessary in today’s time.

Life is an unpredictable journey. You may strike with unexpected serious illness or an accident, you may be suffering from hereditary illness, etc. At such time you will be left mentally and physically deteriorating and also financially unprepared to combat such a crisis situation. Owning a suitable plan makes sense and it’s a  smart move that will cater to your medical emergencies.

There are hundreds of general insurance firms who offer medical insurance India plans with varied features and customized solutions. Each individual has a different set of needs and one-size-fits-all formula could not be applied everywhere.  Each plan is unique and has to be worked upon carefully. Secondly, don’t buy a policy just for the sake of savings few bucks on tax deduction. You should understand the importance of owning a suitable cover.

To help you understand the important features of a health insurance plan, here are few tips given below:

•Before opting for a health insurance policy, it is important you access the health needs of yourself and your family thoroughly .

•While buying policy ensures that specific diseases or conditions you or your family members are prone to depending on family history, are well covered.

•Always take a policy based on your risk appetite, income source, family health needs, living conditions and place of work

•Being young is not an excuse to not have medical policy because illness can strike anyone, anytime. Starting early has advantages like low cost premium, better coverage, the lesser waiting period for pre-existing disease, etc.

•No Claim Bonus is one of the best features offered by medical insurance India companies which help you get policy cheaper during renewals. These are accumulated bonus for not claiming a policy during a year’s time, which can be later redeemed for discounts on premiums.

•Always review your cover and compare it to existing at the time of renewals to your expense levels & inflation costs. If required, buy additional cover.

•Rider benefits like critical illness, Room rent waiver, Hospital cash, Personal accident cover, Top Up/Super top covers is very important features offered by insurers to leverage your cover.

•It is important to read the fine print, terms & conditions carefully so that you don’t get disappointed later. Also, check which hospitals in your neighbourhood are on the list of cashless hospitalization facilities as per your insurer as it will prove will helpful at the time of emergency treatment

•Remember, a regular top-up plan will reimburse expenses exceeding the base cover only for single hospitalization. And a super top-up plan, on the other hand, reimburses expenses for the entire year.

You must assess your specific needs, compare all options available in the market and make a decision based on your age, risk appetite, pre-existing conditions & medical requirement. Always remember, a well-thought-out decision can go a long way in securing your medical future.

Importance of medical insurance and its features

Financial planning is very important part of your life as it helps you create cash reserves for your future needs. Just like you plan for good future your health is also an important goal to achieve. If you have good health you can work well, prosper, look after your family, enjoy life and perform the duties with full responsibility. However, in today’s time of growing uncertainties and hectic lifestyle maintaining an exceptionally good health is a myth. Therefore, owning a suitable medical insurance policy is very much important along with your financial planning goal. While you’re young and just started to earn, it will be a right time to give equal importance to health.

At younger age, you medically fit and not prone to any disease therefore, you get better coverage at low premium rate.  But however, as you gradually grow old your health gets impacted and finally you will have to bear the pain of your hard earned money spent on hefty hospitalization charges. Also, inflation is an added burden take affects your financial savings. Therefore, it becomes essential to have a proper medical insurance plan in place that would take care of your health if required by taking care of financial implications.

A medical insurance is basically a contract between the insured and the insurance company where you promise to pay a certain amount as premium towards your policy and in return the insurance company promises to pay for your medical expenses in case of hospitalization if you want to undergo treatment.

There are various types of medical insurances available for everyone as per their pockets and affordability. Insurance companies have introduced online tools where you can compare the policy in terms of benefits & features, discount and deals, premium payment flexibility, claim settlement ratio, preferred specialists, etc. and purchase the one as per your requirement and the one that fits into your budget.  It is advisable to go for a comprehensive medical plan as it covers some of the most important charges such as Cashless facility in network hospital, Ambulance charges, Pre and post hospitalization expenses up to specified time, Lab and investigating report charges and Easy claim process.

A proper policy in place helps you ease out the financial strain thus giving ample time to focus primarily on the health. Always remember that the insurance is after all a commitment between the purchasing party and the company. So, just signing and sitting back won’t be sufficient. You will have to understand that once you sign the form means you declaring that you’ll abide the rules and agreed with all the clauses. So, it becomes very important that you read the documents calmly and carefully.

Your information and declaration are basis on which the medical insurance companies will customize your health plan, evaluate risks and estimate the premium to insure that risk. At the time of claims, insurance companies in India checks the authenticity of these declarations.

Some factors that will determine the coverage amount for your medical insurance plan would be your income source, risk appetite, family members, place of living, occupation, pre-existing or hereditary disease, etc.

Buying International Travel medical insurance policy

Today international travel for business or pleasure keeps growing at a fast pace and is unlikely to change in the near future. The most serious problem any international traveler faces when on the move is the possibility of having a medical problem in a foreign country. International travel medical insurance goes a long way in taking care of surprise medical problems. It offers temporary medical or health insurance for US citizens and foreign nationals when traveling anywhere outside of their home country.

Some domestic health insurance plans will cover you for some procedures and expenses away from home but many don't, especially for major medical expenses. There are many types of international travel medical insurance on the market today including student travel medical insurance, travel accident insurance and even backpackers travel insurance.

It's important to know that evaluating someone who has met with an accident or become ill in an isolated place can be terribly expensive. Many international insurance companies have a bi-lingual or multi-lingual staff and on-site medical staff available 24 hours a day, seven days a week for their policyholders for consultation and medical emergencies.

One way to lower your insurance costs is to agree to pay a small upfront medical cost for any future treatment needed and make a claim from the insurance company only when the amount exceeds that amount. For example, you could agree to pay the first $200 of any medical expenses and make a claim only when the cost of the treatment goes above it.

If you find a quality insurance company, it'll take the financial worry of terrific medical expenses out of your travel experience. You can exclude a medical condition that is pre-existing which can lower your insurance costs, but you must be sure that the condition will not worsen on your trip and it could cost you a lot more. Any international traveler, expatriate or business traveler needs to be careful about the medical costs they could incur while traveling out of their home country.

Whatever compromise you choose to make in your plan between risks and costs, shop around not only for cheap international travel medical insurance plans, but also for the insurance company that gives you complete information, has open not hidden view functioning and doesn't evade any of your questions.

The time frame on your insurance policy needs to be restricted to the actual time you're out of the country; the shorter the duration will obviously reduce the cost. Some travel insurance plans don't accept hazardous vocations such as mountain climbing. After you get your insurance, in case any minor emergency medical treatment is needed, have all the expenses listed in itemized bills to make a claim when you get back home.

Getting low cost or cheap international travel medical insurance quotes online from several insurance companies is easy enough to do. The watchword in your travel insurance should be attention to the smallest of details.

Some of the insurance policies don't cover any pre-existing illnesses, and will ask for a history of any medical problems. All around the world medical costs are skyrocketing, due mostly to the advances in specialized equipment and the cost of advanced medicines and training specialists in a number of medical fields.

Finally international travel medical insurance is a must for all travelers going out of their home country. You want to make sure that evacuation coverage is included in your plan, because that can be a major expense; getting you out of a isolated or difficult location such as a cruise ship, mountain top or safari can be very costly.

Getting low cost or cheap health insurance is certainly a good possibility without giving up any quality care you might need away from home. International travel medical insurance policy quotes are easy to get online and an important travel necessity for individuals and families when they live or travel outside their home country. Just make sure you know exactly what is covered in your travel insurance policy.

Source: http://ezinearticles.com/?Buying-International-Travel-Medical-Insurance---What-You-Need-To-Know&id=810215

Buying International Travel Medical Insurance - What You Need To Know

Today international travel for business or pleasure keeps growing at a fast pace and is unlikely to change in the near future. The most serious problem any international traveler faces when on the move is the possibility of having a medical problem in a foreign country. International travel medical insurance goes a long way in taking care of surprise medical problems. It offers temporary medical or health insurance for US citizens and foreign nationals when traveling anywhere outside of their home country.

Some domestic health insurance plans will cover you for some procedures and expenses away from home but many don't, especially for major medical expenses. There are many types of international travel medical insurance on the market today including student travel medical insurance, travel accident insurance and even backpackers travel insurance.

It's important to know that evaluating someone who has met with an accident or become ill in an isolated place can be terribly expensive. Many international insurance companies have a bi-lingual or multi-lingual staff and on-site medical staff available 24 hours a day, seven days a week for their policyholders for consultation and medical emergencies.

One way to lower your insurance costs is to agree to pay a small upfront medical cost for any future treatment needed and make a claim from the insurance company only when the amount exceeds that amount. For example, you could agree to pay the first $200 of any medical expenses and make a claim only when the cost of the treatment goes above it.

If you find a quality insurance company, it'll take the financial worry of terrific medical expenses out of your travel experience. You can exclude a medical condition that is pre-existing which can lower your insurance costs, but you must be sure that the condition will not worsen on your trip and it could cost you a lot more. Any international traveler, expatriate or business traveler needs to be careful about the medical costs they could incur while traveling out of their home country.

Whatever compromise you choose to make in your plan between risks and costs, shop around not only for cheap international travel medical insurance plans, but also for the insurance company that gives you complete information, has open not hidden view functioning and doesn't evade any of your questions.

The time frame on your insurance policy needs to be restricted to the actual time you're out of the country; the shorter the duration will obviously reduce the cost. Some travel insurance plans don't accept hazardous vocations such as mountain climbing. After you get your insurance, in case any minor emergency medical treatment is needed, have all the expenses listed in itemized bills to make a claim when you get back home.

Getting low cost or cheap international travel medical insurance quotes online from several insurance companies is easy enough to do. The watchword in your travel insurance should be attention to the smallest of details.

Some of the insurance policies don't cover any pre-existing illnesses, and will ask for a history of any medical problems. All around the world medical costs are skyrocketing, due mostly to the advances in specialized equipment and the cost of advanced medicines and training specialists in a number of medical fields.

Finally international travel medical insurance is a must for all travelers going out of their home country. You want to make sure that evacuation coverage is included in your plan, because that can be a major expense; getting you out of a isolated or difficult location such as a cruise ship, mountain top or safari can be very costly.

Getting low cost or cheap health insurance is certainly a good possibility without giving up any quality care you might need away from home. International travel medical insurance quotes are easy to get online and an important travel necessity for individuals and families when they live or travel outside their home country. Just make sure you know exactly what is covered in your travel insurance policy.

Source: http://ezinearticles.com/?Buying-International-Travel-Medical-Insurance---What-You-Need-To-Know&id=810215

6 important changes brought about by new medical insurance plans

Regulations play an important role in defining the growth and future of any industry. Recently, the Insurance Regulatory and Development Authority of India (IRDAI) introduced (Health Insurance) Regulations, 2016, replacing the rules set in 2013.

The six important changes brought about by the regulations are:

* Combi plans can be a mix of any life (earlier only term plan) and medical insurance plans

* Cumulative bonus in benefit plans allowed

* Wellness benefits

* Insurers have been asked to launch pilot products

* Standard declarations format can be flexible and insurers may design them independently

* Life insurers will not be allowed to offer indemnity-based products

Let's take a look at the implications of each of them:

Combi plans can be a mix of any life (earlier only term plan) and health plan

In December 2009, IRDAI had come out with the guidelines for combi plans that would allow a life and a non-life (or a standalone health) insurer to enter into an agreement to offer such plans. Recently, India First Life Insurance announced collaboration with Star Medical insurance plansto introduce Star First Combi Plans - a combination of health and life insurance plans. It was a mix of a pure term  ..

Cumulative bonus in benefit plans allowed

Currently, cumulative bonus is not a feature in defined benefit policies such as critical illness plans. Going forward, it will be offered and explicitly stated in the prospectus and policy document. The addition of cumulative bonus increases the sum insured over a period of time and helps in meeting a higher treatment expense in future. But, will there be a corresponding increase in the premium of critical illness plans?

Wellness benefits

Medical insurance plans premium is largely a function of age and sum insured, followed by health maintenance and healthy habits. The guidelines to reward policyholders with an early entry and continued renewals were already present in the IRDAI guidelines of 2013. To incentivize healthy lives, the recent guidelines stress on rewarding policyholders on the basis of preventive and wellness habits by disclosing upfront such mechanism or incentives in the prospectus and the policy document. "This type of benefit might help customers in monitoring and improving their health. On the other hand, the insurer recognizes the same and offers discount on the renewal premium," says Mehrotra.

No discount, however, will be provided on any third-party service or merchandise. For instance, insurers can't offer discounts on a health club's membership just because they have a tie-up with the club. Instead, discounts in premium or on diagnostic or pharmaceuticals or consultation services of providers in the network will still be allowed.

Insurers have been asked to launch pilot products

This new initiative may usher in a new wave in the insurance industry. IRDAI has allowed insurers to test the water by launching 'pilot products'. Close-ended with a one-year policy term, the products will be offered only by general or health insurers for just five years initially. The product can be withdrawn or rolled over into a regular one. The idea is to cover risks which have not been covered by insurers till now. Such experiments, however, should not be detrimental to the interests of policyholders. Mehrotra says, "While the insurers have the flexibility to withdraw or continue the product after 5 years, the regulator has protected the interest of the customers by putting an obligation on the insurance companies to port the customers of pilot policies to an existing product of a health insurer. This will provide customers continuity benefit and at the same time encourage insurers to innovate more and test new products."

Proposal form can be flexible and insurers may design them independently

All insurance companies, including life, general and health, can now have their own proposal form with separate set of standard declarations as part of it. The regulations, however, strictly prohibit any explicit or implicit consent of prospective buyers to part information with third-parties.

Life insurers are not allowed to offer indemnity-based products

From now on, life insurers will not be allowed to offer indemnity products. For existing policyholders, however, the policy shall continue until the expiry of the respective policy term. But won't their claim experience be hit if new policies can't be sold? "Actuarial assumptions take into account several factors, including continuity of a product and the volume of business. As a prudent insurance company.

Indemnity plans are medical insurance plans policies such as medi claim which reimburse the actual hospital expense incurred, i.e., indemnify the policyholder. Few years back, life insurers had started offering such plans, but now IRDAI has put brakes to it. Non-life and standalone health insurers will, however, continue to offer them. Importantly, life insurers may still offer defined-benefit health plans such as critical illness plans in which a lump sum amount, irrespective of the actual hospital expect ..

Conclusion

One should ideally have adequate medical insurance plans cover for not just oneself, but the entire family as well. Young families may opt for family floater health covers where children up to the age of 25 are covered. At around age 40, one may consider buying a critical illness cover. Keep reviewing the amount of coverage every 3-5 years and, more importantly, maintain a healthy lifestyle.

Source: [http://economictimes.indiatimes.com/wealth/insure/6-important-changes-brought-about-by-new-health-insurance-rules/articleshow/53735274.cms]

How To Choose A Health Insurance Policies

These days, landing in the hospital for even a few days can decimate your savings account. That's why it's extremely important to consider the cost, the benefits, and the extent to which your family's health needs are met when choosing insurance. Research the various plans that are available, and determine how specifically tailored they are to your family's health needs and financial abilities, to decide on a plan that is best suited to your lifestyle.

Sign on with the health insurance provided by your employer: It is likely to be the cheapest option you can find. Your employer's carrier may have more than one option for you to choose from (HMO, preferred). If you're self-employed or if your company doesn't offer insurance, you'll have to search for your own insurance.

Assess your needs, taking into account your current use of health care and your medical expenses for the near future, and decide what services are most important to you and your family. Ask about dependents' coverage. Factor in how much you can afford to spend on monthly premiums and co-payments. If you're single and healthy, your Health insurance policies needs will be very different from those of a family with three young children.

Compare benefits and coverage of key items like monthly premiums, deductibles, co-payments, co-insurance rates, and costs for seeing out-of-network providers, preventive care, physical exams, immunizations and the like. Other services that are of interest to your family could include fertility services, mental health coverage, nursing care and long-term care.

Ask lots of questions: Are your current providers part of this plan? Do you need referrals for specialist visits? How easy is it to change doctors? What hospitals and facilities can you use as part of the plan? What are the procedures for having emergency room treatment approved?

Find out if benefits are limited for preexisting conditions, or if you have to wait for a period of time before you're fully covered. Some plans may completely exclude coverage of preexisting conditions.

Research whether there is a fair appeals process available if the company denies treatment, and if these appeals are reviewed by an external, independent agency. Is there a high turnover rate among doctors in the plan? Check if the National Committee for Quality Assurance (NCQA.org) accredits the plan; the Pacific Business Group on Health (HealthScope.org) also offers information on Health insurance.

Pick a plan that best matches your needs and priorities based on thorough research. Read all materials and call the Health insurance policies representative or conduct Internet research to get any information you are missing. Discuss pre-existing conditions and flex spending plans before making a decision.

Source: http://www.ehow.com/how_138961_choose-health-insurance.html

Top 9 Individual Medical Insurance Policy Tips

Having an individual medical insurance policy is really important today because it gives an individual the peace of mind that he has financial security when he needs expensive medical treatments. There are many reasons why people consider purchasing medical insurance policies. In this article, I will talk about the top 9 individual medical insurance policy tips which will help you choose the policy that is most suitable for you.

1. It is never too early to take out a health insurance policy - a person should not take his health for granted and today we even have incidences where young people develop relatively severe illnesses or get involved in horrific road crashes. A person should never take his health for granted because no matter in which condition you are today, it is not likely you will remain the same forever. Another good thing about taking out a medical insurance policy early is that your monthly premiums will be low. Moreover, it is less likely that you would have a preexisting condition which in most cases is excluded from health insurance policies.

2. Get the necessary insurance - if you do not have enough cover, medical treatment and other medical procedures can get very costly if you are not covered for them. For this reason, it is important that you do enough research and ensure that you have the necessary coverage.

3. Choice - with most policies, you have the option to choose when, where and by which health care provider you want to receive treatment from.

4. Check your records - always makes sure that the records at your doctor's office is up to date. If it isn't, you may have to pay higher premiums or you may not be able to get coverage for certain conditions.

5. Your excess options - with some policies, you are required to pay higher excess fee. This means that your monthly premiums will be low.

6. Shop Around - before you choose any individual medical insurance policy, make sure that you have done enough research. Do not accept the very first quote that is offered to you. Before making the final decisions, make sure that you have checked out at least three different plans thoroughly.

7. Understand the plan - it is very important to understand the plan before you buy it. In most cases, people expect the plan to cover certain things like dental care, accidents, prescriptions drugs, but get surprised when they find out that their plan does not cover such things. For this reason, it is important to go through the plan thoroughly and understand it before making the final decision.

8. don't forget the small print - if you need any clarification or if anything is unclear, make sure you ask your insurance provide and clarify your doubts. This will help you choose the policy that is right for you.

9. Don't be hasty - take your time to look through the medical insurance and plans. Do not rush with your decision as it may lead to paying for something that is not necessary or eliminating coverage for necessary things.

Source: http://ezinearticles.com/?Top-9-Individual-Medical-Insurance-Policy-Tips&id=6171847

Stay prepared to combat medical emergencies

Tomorrow is uncertain. As long as it brings happy and fantastic days everything is merrier in life. But if it’s an unexpected accident or critical illness for which you are admitted things will go haywire for you. For a moment there will be tensions running into your minds.

More than emotional and physical stress it’s the financial stress that will keep your disturbed. During such dire situations owning a medical insurance policy would be the best possible way to shelter yourself and your family. Medical policies have become imperative in today’s world, whether you want to secure yourself as an individual or for securing your family. It not only ensures you and your family receive the best possible medical treatment during emergency but also aims in offer sufficient financial aid and thus save your hard earned money from being spent in health crisis.

Today, owning a medical insurance policy is probably the smartest move by an individual. There are various factors that contribute to uncertain health issues like rising pollution, hectic lifestyle culture, stress, hereditary disorders, place of living, occupation, poor eating habits etc. So it is better to stay prepared pre-hand to combat such medical emergencies of life. So, whether you’re single or a family person with dependents like spouse, children, siblings or parents it is important to have a proper policy in place. Also, as you only have to pay fraction of medical costs if the need arises, your financial stability doesn’t get threatened. The most important thing is you don’t have to borrow money or take finances at high interest rates thus, thereby making your reputation stay intact in the society.

Today, there are hundreds of general insurance companies that have come up with customized medical insurance policies for consumers. You can pay upfront amount to purchase your policy or make payments in installments.

Types of medical policies:

In India, there is range of policies available suiting as per your varied requirements. You have individuals, couples, nuclear families, women oriented, family floaters and even extended families cover. Also, organizations do come up with mediclaim policy for their employees but these are restricted policies not catering to individual or family requirements entirely. So its advisable to buy individual health policies.

While buying medical insurance policies:

•Understand your family or individual needs, income source and then decide a suitable premium for medical policy

•Buy a medical cover which gives your lifetime renewability as it is important to get covered properly during old age.

•Opt for policies which gives you a restore limit or super top up just in case you fully utilize your sum assured

•Try to be as transparent with the companies as possible. Never lie and hide information. If you have pre-existing ailments, any habits like smoking or drinking, hereditary disorders share it honestly with them.

•All medical insurance policies have a waiting period for pre-existing ailments. It might extend from 2 to 5 years varying from company to company. Get it confirmed accordingly and plan your finances till that time.

•Check out for the inclusion and exclusions in your plans.

Each medical insurance plans has distinct characteristics that cater to requirements that you might feel appropriate for yourself or family. You can get special cover like ‘heartbeat’ plan for individual, couples and nuclear families, pre and post hospitalization medical costs, costs of all day procedures, emergency ambulance costs and hospitalization expenses. You can choose the plan as per your needs and requirements and amount of financial support your family requires. Medical insurance plans are the best helping hands to remove the hassles in our lives.

Source: https://justpaste.it/Stay-prepared-to-combat-medical

Medical Insurance - Finding The Right One For You

With rising costs of healthcare, many people should consider looking for an alternative medical insurance policy to suit the needs for themselves and their family. There are plenty of plans available for every person will allows for flexibility in pricing and coverage.

What exactly is medical insurance policy? Medical Insurance provides payment to healthcare providers in case the person or family has a medical emergency. The person who has the plan often pays a portion of the total medical bill, called the deductible and the health insurance provider pays the rest. The insured person or family also pays a premium every six months based on the amount of coverage they desire.

Why should you get a medical insurance policy? medical insurance policy provide basic coverage to people who have disabilities or in the case of a emergency. You do not have thousands upon thousands of medical bills to worry about paying for the rest of your life because your insurance company will take care of it and make sure you receive the best treatment possibly.

What can you get health insurance to cover? Many basic plans will cover dental and hospital bills. More advanced plans can also cover pregnancy expenses, acne treatment, and orthodontic treatment. The most advanced plans will also cover plastic surgery or other major surgeries such as a hip replacement or knee surgery. They also will sometimes cover medical supplies such as a wheelchair or a diabetes meter.

Where can you get a medical plan? There are thousands of medical providers in the country many of which are local to a state or region. There are many websites and resources available to receive quotes from each medical providers along with their coverage plans to decide which is best for you and your family.

Medical Insurance is now required by law for every person in the United States to have. Anybody who does not have insurance should look for a policy what will suit their needs. Emergencies do happen and with a medical insurance policy you will be prepared for whatever happens to you or a family member.

I hope this article has been helpful in giving an overview on the basics in choosing a medical insurance policy that fits the requirements for you and or your family. Knowing that your loved ones are protected in case of the unfortunate bout of bad health can be a real comfort to all those involved.

Source: http://youknowitbaby.com/article/14646/medical_insurance_finding_the_right_one_for_you.html

Vehicle insurance renewal- How it Works

Insurance, primarily, operates on several principles. The reason that insurance is such a lucrative business is because there are large numbers of entities susceptible to loss that can be insured?

Insurers seek to cater to members within a large Class. For example, the class of people owning vehicles is vast, therefore that is an ideal class to provide insurance to. The same goes for health and life insurance.

The loss that insurers must cover must also be accidental, not taking into account the usual damages one may face while in a certain situation. Also, this loss must be definite. For example no health insurance deal would cover the bills incurred due to a numerous, unexplainable visits to doctors.

To calculate insurance deals, two things must be quantifiable. These are: probability of a loss and the cost of that loss. While there is no scientific way of calculating, for example, the risk of a vehicle getting into an accident, there are practical methods of coming to conclusions. The cost of the loss, the amount an insurance company has to pay back to its customers should be reasonably and objectively calculated.

There are several other methods of loss protection. One of these is indemnities. An indemnity entails that the person suffering from a loss must be willing and able to pay for that loss themselves and then the company will reimburse them.

The way insurance works is that an insurance company chooses what sort of insurance deals to offer. Then, customers wanting these deals will buy them. They pay an "insurance premium". The insurers, having taken premiums from many customers will then do two things. Firstly they will invest some of this premium in a profitable market giving good returns. They will keep the rest as a 'reserve' to pay for the losses caused to their customers. Obviously, this model operates on the supposition that the number of people suffering losses is far less than the number paying a premium and that these losses are far less than the total profit generated through the collection of these premiums. Statistics and probability are employed to determine the likelihood of a claim being made against a company for their policies.

Claims filed by insured are the actual "product" for which they had paid a premium. Car insurance reviews have showed that higher premiums are not necessarily paid to cover a wider variety of claims, but that in the niche market of luxury cars, the insurance premium reflects the make and price of the car itself. As far as renewing insurance deals is concerned, there is no definite market that sees the most renewals. Renewals are based more on customer satisfaction with a particular company's policy with regard to the entity being insured. Vehicle insurance renewal are on the decline, not because of poor insurance deals, but because car ownership time is decreasing and new deals have to be made with each new car bought.

Source: http://ezinearticles.com/?Car-Insurance-Renewal---How-it-Works&id=1847669

All about Affordable Health Insurance Plans

While consumers search for affordable health insurance, they have price in their mind as the top priority. A general conception among the consumers is that cheap health plans should not be costly-the cheapest health plan available in the market is their target. However, this approach is not good. Sometimes, paying for a cheap health insurance plan but still not getting the required level of coverage results only in wastage of money.

With the implementation of the affordable care act, the reach of affordable health plans is set to increase. Or at least, this is what is believed to be the objective of healthcare reforms. However, lots of consumers are still in confusion about how things would work. In this article, we will discuss some detailed options that consumers can try while looking to buy affordable health plans.

To get a hand on affordable health insurance plans, consumers need to take of certain things. First among them is about knowing the options in the particular state of the residence. There are lots of state and federal government-run programs that could be suitable for consumers. Knowing the options is pretty important. Next would be to understand the terms and conditions of all the programs and check the eligibility criteria for each one of them. Further, consumers should know their rights after the implementation of healthcare reforms, and something within a few days, they may qualify for a particular program or could be allowed to avail a particular health insurance plan. If consumers take care of these steps, there is no reason why consumers can't land on an affordable health plan that could cater to the medical care needs.

Let's discuss some options related to affordable health insurance plans state-wise:

State-run affordable health insurance programs in California

While considering California, there are three affordable health insurance plans that are run by the state government. Consumers can surely get benefitted by these if they are eligible for the benefits.

• Major Risk Medical Insurance Program (MRMIP)

This program is a very handy one offering limited health benefits to California residents. If consumers are unable to purchase health plans due to a preexisting medical condition, they can see if they qualify for this program and get benefits.

• Healthy Families Program

Healthy Families Program offers Californians with low cost health, dental, and vision coverage. This is mainly geared to children whose parents earn too much to qualify for public assistance. This program is administered by MRMIP.

• Access for Infants and Mothers Program (AIM)

Access for Infants and Mothers Program provides prenatal and preventive care for pregnant women having low income in California. It is administered by a five-person board that has established a comprehensive benefits package that includes both inpatient and outpatient care for program enrollees.

Some facts about affordable health insurance in Florida

While talking about affordable health insurance options in Florida, consumers can think about below mentioned options:

• Floridians who lost employer's group health insurance may qualify for COBRA continuation coverage in Florida. At the same time, Floridians, who lost group health insurance due to involuntary termination of employment occurring between September and December, may qualify for a federal tax credit. This credit helps in paying COBRA or state continuation coverage premiums for up to nine months.

• Floridians who had been uninsured for 6 months may be eligible to buy a limited health benefit plan through Cover Florida.

• Florida Medicaid program can be tried by Floridians having low or modest household income. Through this program, pregnant women, families with children, medically needy, elderly, and disabled individuals may get help.

• Florida Kid Care program can help the Floridian children under the age of 19 years and not eligible for Medicaid and currently uninsured or underinsured.

• A federal tax credit to help pay for new health coverage to Floridians who lost their health coverage but are receiving benefits from the Trade Adjustment Assistance (TAA) Program. This credit is called the Health Coverage Tax Credit (HCTC). At the same time, Floridians who are retirees and are aged 55-65 and are receiving pension benefits from Pension Benefit Guarantee Corporation (PBGC), may qualify for the HCTC.

Some facts about affordable health insurance in Virginia

While talking about affordable health insurance options in Virginia, consumers need to consider their rights:

• Virginians who lost their employer's group health insurance may apply for COBRA or state continuation coverage in Virginia.

• Virginians must note that they have the right to buy individual health plans from either Anthem Blue Cross Blue Shield or CareFirst Blue Cross Blue Shield.

• Virginia Medicaid program helps Virginians having low or modest household income may qualify for free or subsidized health coverage. Through this program, pregnant women, families with children, and elderly and disabled individuals are helped.

• Family Access to Medical Insurance Security (FAMIS) helps Virginian children under the age of 18 years having no health insurance.

• In Virginia, the Every Woman's Life Program offers free breast and cervical cancer screening. Through this program, if women are diagnosed with cancer, they may be eligible for treatment through the Virginia Medicaid Program.

Some facts about affordable health insurance in Texas

While talking about affordable health insurance options in Texas, consumers need to consider their rights:

• Texans who have group insurance in Texas cannot be denied or limited in terms of coverage, nor can be required to pay more, because of the health status. Further, Texans having group health insurance can't have exclusion of pre-existing conditions.

• In Texas, insurers cannot drop Texans off coverage when they get sick. At the same time, Texans who lost their group health insurance but are HIPAA eligible may apply for COBRA or state continuation coverage in Texas.

• Texas Medicaid program helps Texans having low or modest household income may qualify for free or subsidized health coverage. Through this program, pregnant women, families with children, elderly and disabled individuals are helped. At the same time, if a woman is diagnosed with breast or cervical cancer, she may be eligible for medical care through Medicaid.

• The Texas Children's Health Insurance Program (CHIP) offers subsidized health coverage for certain uninsured children. Further children in Texas can stay in their parent's health insurance policy as dependents till the age of 26 years. This clause has been implemented by the healthcare reforms.

• The Texas Breast and Cervical Cancer Control program offers free cancer screening for qualified residents. If a woman is diagnosed with breast or cervical cancer through this program, she may qualify for medical care through Medicaid.

Like this, consumers need to consider state-wise options when they search for affordable health insurance coverage. It goes without saying that shopping around and getting oneself well-equipped with necessary information is pretty much important to make sure consumers have the right kind of health plans.

Source: http://ezinearticles.com/?All-About-Affordable-Health-Insurance-Plans&id=7744773

Exclusions In A Health Insurance Policies

What does a health insurance not cover i.e. exclude?

The moment of truth in an insurance policy is at the time when a claim arises. One of the most common reasons for a health insurance claim not being paid by an insurance company is when they say that the particular disease is not covered by the policy and is “exclusion". It leaves a bitter taste in the mouth of the policyholder and can sometimes put the policyholder in great financial difficulty. Thus, it is very important to know in detail about the exclusions in a health insurance before purchasing it. In our opinion, it is a far more important variable than price. A policy might be 10% cheaper than a competitor's policy but might have many more exclusion clauses-in such a case, the policy with the lesser number of exclusion clauses would be the better choice for the policyholder.

In this article, we deal with some of the common exclusion clauses in a health insurance. Of late, we are seeing some innovation in this area with the new companies not excluding certain ailments which had traditionally been within the exclusions area

Maternity: In most cases, maternity and maternity related expenses are not covered in an individual or family floater health insurance. Maternity is typically covered in a group policy. In certain cases, we are seeing maternity being covered after 5 years into the policy.

Diseases or illness contracted within the first 30 days of the policy. The insurance company does this to safeguard itself against customers buying a policy immediately after a disease has been detected

Cataract, Prostrate, Hernia, Piles, fistula, gout, rheumatism, kidney stones, tonsils and sinus related disorders, congenital disorders, drug addictions, non allopathic/alternate treatments, self-inflicted injuries, hysterectomy, fertility related treatments, etc. are normally not covered under a health insurance. Dental treatment and cosmetic surgery is also typically excluded. Contact lenses cost is also not covered. HIV/AIDS is excluded, which has been a subject of great debate and criticism in the last few weeks. Some insurance companies do not cover treatment incurred outside the country, so you should check once before buying the policy

Preexisting diseases are not covered in a health insurance. Preexisting means a disease that you have had prior to joining a health insurance. The policyholder may or may not have been aware of the pre-existing disease. Further complications which arise due to the preexisting disease are also not covered. For example, renal problems which arise due to a person having diabetes at the start of the policy would not be covered. This can sometimes lead to a lot of confusion and heartburn. Someone gets admitted for a kidney related treatment, and the insurance company turns down the claim saying the kidney problem has arisen because the patient had diabetes, and rejects the claim. It can get a little grey here as medical science cannot sometimes clearly pinpoint the root cause of a particular disease outbreak. In most cases, preexisting diseases are covered after 3 or 4 consecutive policy years. This is the single biggest reason why one should buy a health insurance at a young age, and continue with the same insurer. Because if you shift to a new insurer, you lose your previous credit and a disease that was being covered by the old insurer might be treated as a pre-existing disease by the new insurer. We have noticed that insurance companies start facing more claims from the health insurance customers from their 4th or 5th policy year, as preexisting begins to get covered and the profitability of the portfolio goes down

Most policies do not cover day care, but a few like Max Bupa cover daycare, although the premium is higher in this case

War related health insurance claims are mostly excluded from the policy coverage

Abortion related health expenses are not covered in a health insurance

Please do note that with competition heating up, some of the exclusions mentioned above will begin to get covered by a company or two so that it can be used as a selling point. Thus, the lists mentioned above are subject to change. The moot point here is that 10 minutes spent to read the exclusions list of the health insurance policies you are considering to buy could save you a lot of headache buyer. Is an informed buyer- there will be no else to blame but you.

Source: http://youknowitbaby.com/article/14111/exclusions_in_a_health_insurance.html

Medical Insurance Companies: Heroes or Villains?

Physicians are expected to be hostile to insurance companies.  Indeed, a prior Whistleblower post directed arrows in their direction.  They are an easy target, often vilified for their greed and perceived indifference toward those they insure.  Ask most of us if we think insurance companies favor profits over patients, and most of us will respond that profits prevail.

Insurance companies are businesses, not charitable undertakings.  Sure, we all like free stuff.  Or, if it’s not free, we prefer that someone else pays for it.  We are outraged at the costs of chemotherapy, hepatitis C treatment and biologic treatments such as Humira and Remicade, leaving aside the zillions of dollars it takes to research, develop, manufacture, market and monitor innovative new drugs.

No person, business or organization is wrong all of the time.  Consider the following practices.  Whose side are you on here?

A patient has chronic back pain and ran out of his pain medications on the weekend.  He calls the doctor and is connected to a weekend covering physician who declines to refill the medicine.  The patient then proceeds to an emergency room, where he is evaluated and given the desired prescription.  Who should pay for the ER care?

A patient is seen in the office and prescribed a 2 week course of antibiotics for diverticulitis.  The medicine nauseates him and he stops them in 3 days.  He does not contact his physician.  Ten days later, he develops severe abdominal pain and fever and needs to be hospitalized for severe diverticulitis.  He is in the hospital for 5 days and is seen by numerous medical specialists.  Who should pay the costs of this hospitalization?

A 55-year-old individual has never had a colonoscopy performed.  His primary care physician advises him to proceed, but the patient declines.  A decade later he is discovered to have colon cancer and needs to be hospitalized for surgery and evaluation by an oncologist.  Who should pay for the costs of his care?

If a patient with high blood pressure, skips appointments and his medications, and a complication develops…

I’m not carrying water for the insurance companies.  I am pointing out, however, that we often expect them to pay for medical insurance care that is either inappropriate or should not have been necessary.  That’s not reasonable or fair.   Don’t we have a responsibility to be personally responsible?

Source: http://mdwhistleblower.blogspot.in/2016/05/medical-insurance-companies-heroes-or.html