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Did you Know?
New Studies have brought to light an interesting correlation between insurance coverage and survival rates of individuals involved in a car accidents or other traumatic injuries. It seems that those who have insurance coverage are twice as likely to survive as those who have no health coverage. The reasons have not been established, and Emergency room doctors are bewildered as to how that could be since patients are not asked about insurance during the triage stage of treatment. Some speculate that there are higher chances that individuals who have health coverage are two times less likely to have underlying health issues that would contribute to possible complications in the event of a major injury than those who have no health coverage, and so may wait longer to go to the hospital when sick.
Dental insurance basically works the same way that health insurance does. You pay a monthly premium in exchange for specified dental benefits. These benefits normally include preventative services that consist of regular check ups, cleanings, x rays, and any other maintenance services. While cavity treatment, root canals and extractions are performed routinely performed in the dentist's office, they are not considered maintenance items and you usually pay a co-pay for these services with most coverage plans. You may be able to find a plan that has comprehensive dental coverage, but you will most likely have to pay a higher premium, as well as a higher co payment at time of service. As you can see, you need to decide what you need to address your unique dental insurance needs are.
Here at S-Health Insurance, we can help you discover the best solution for your unique insurance needs.
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Also known as Individual health insurance, family health insurance is a type of health insurance police that places you, your spouse and you children on the same policy, even though this is classified as an individual plan. These are the types of policies most frequently purchased when your employer does not offer health insurance benefits to their employees. This is also what you would want to purchase if you are unemployed, a student or self employed, or an individual under 65 years of age After 65 they are eligible for Medicare ans Medicare Supplemental Insurance, and have to give up their individual medical insurance coverage.
As an employer, you should know that to draw the best employees to your company, you need to offer the best employment package. Recent research has shown that the item most often listed as a requirement to accept an employment offer is health insurance. Did you know that this could also be a way for you to get your own health insurance at a cheaper rate? These are not the only reasons to consider group health insurance. You can also get a tax break. It is also possible that your employees may get a reduction in payroll taxes if they pay their insurance premium with pre- tax earnings. Group health insurance policies are usually categorized as either managed care or traditional indemnity plans (AKA - fee-for service , FFS or traditional indemnity). The major difference between both of these insurance types lies in the freedom of choice of providers and hospitals vs out of pocket expense. If you go with an indemnity plan, you will have more control over which doctor you see and what hospital you go to, and with a managed care plan, your out of pocket expense is considerably less than it is with the indemnity plan.
There are a few different international policy types available to you to meet your needs. We will look at two of these. Working and living overseas, and traveling and studying abroad.
International Traveling and Studies
Whenever you embark on an international trip, there are always risks. One of those risks includes the possibility of becoming ill enough to need the services of a physician, or requiring a stay in a hospital. From food poisoning to having a heart attack, the need for medical attention while abroad can cause serious financial difficulties. You can narrow down what things you need to worry about by purchasing international health insurance, and we can help with that. You can choose length of the policy, the deductible, and limits of your policy. With the right international health insurance policy, you can get services and benefits tailored specifically for your traveling needs at the price you can afford. Sports trips, vacations, business travel, or education abroad are ideal examples of reasons when you might need international health insurance.
Working and Living Internationally
United States health insurance might not be the coverage you need if you are working and/or living over seas. Traditional medical coverage may not be accepted by the hospitals where you are stationed or working. Examples of why international health insurance could be needed include: long term vacations, educational research (particularly post graduate students), Long term corporate travel, sabbaticals, missionaries, or overseas postings.
Long Term Care
This kind of policy consists of a number of services to meet the needs of individuals with a disability or chronic illness who are unable to care for themselves for extended periods of time. For individuals requiring non-skilled and custodial care such as assistance with the day to day tasks of getting dressed, bathing, cooking cleaning and using the bathroom, long term care is a common need. Long term care may be needed by individuals of any age, although it is most commonly needed by the elderly. It has been estimated that approximately twelve million women and men in the United Stated over the age of 65 will need long term care by 2015. In light of current trends, most of the senior population will be cared for at home. Seventy percent of the sole caregivers for the elderly are family and friends, and four out of every ten individuals that reach the age of sixty-five will need the services of managed care; either in home care by a nurse, or a nursing home, and ten percent of those will stay five or more years in this type of a care facility. In addition to these disturbing facts a study conducted by AARP discovered that the majority of americans underestimate the costs of long term care and overestimate how much Medicare will pay. Have you saved enough to pay for Long Term Care?
Nursing Home: $42,121
Home Care: $21,970
Nursing Home: $45,286
Home Care: $24,531
Colorado Springs, CO
Nursing Home: $44,640
Home Care: $29,081
Nursing Home: $33,179
Home Care: $25,350
Nursing Home: $98,185
Home Care: $19,396
San Diego, CA
Home Care: $23,114
Nursing Home: $49,538
Nursing Home: $61,714
Home Care: $29,315
Nursing Home: $70,518
Home Care: $21,190
These figures will go up with inflation. With the right insurance coverage, You can be prepared to meet these rising costs.
Major Medical Insurance
This type of policy is usually bought to supplement a basic health insurance policy. These typically have large deductibles and low monthly premiums and only cover major medical and hospital expenses. This leaves you to pay out of pocket for all else, like office visits, prescription drugs, and other preventative care. This kind of insurance is usually purchased by individuals in their twenties, and older individuals aged fifty to sixty-five. With the younger group, this insurance is purchased because the individual cannot get coverage through their work or they are self employed. The older group purchases this insurance because they are too young for Medicare and concerned that they may suffer a serious financial loss due to a critical illness. Inexpensive insurance can be found in the internet. The costs of insurance can vary widely through this medium, so be sure to research your subject thoroughly. It is best to work with a company who deals with multiple carriers as they are in a better position to find good deals.
Here are some questions you should ask when looking at any policy to insure that you get the one that is right for you:
- Are you prone to illnesses?
- Do you have a pre-existing condition?
- How much does the monthly premium cost?
- How big is the deductible?
- Can I afford the deductible?
- Is there a lifetime annual maximum, and how much is it?
- Are you pregnant or plan to be?
- Are your doctor's visits affordable for you?
- How extensive does your coverage need to be?
Definitions of some common insurance types:
Family Health Insurance – This kind of policy is also known as Individual insurance. This is available to anyone not covered by their employer.
Health Maintenance Organization (HMO) – These tend to offer very comprehensive insurance at the lowest price to the consumer. The trade off is when you go to the doctor that participates with that plan, you will require referrals from that doctor for any specialty work that need to be done.
Health Savings Accounts (HSA) – There are savings accounts that you put a lump sum into with pre tax dollars and then use these funds to cover deductibles, copays and specified eligible items such as over the counter pain relievers, diapers, diaper rash ointments, band aids, etc.
Indemnity Health Insurance – You can use any physician or hospital you choose to with this plan. Normally you pay up front for any services provided and then file for reimbursement from insurance carrier. These policies are not offered by very many carriers due to their archaic nature.
Point of Service plans (POS) – Tend to be among the more expensive options for Insurance because they provide the services of both health maintenance, and prevention. Employers are not providing this coverage as is it is too expensive for them to purchase it, have simply dropped it.