Sometimes, thanks to the very competitive insurance marketplace, insurance policies are sold for really reasonable prices. Competition in the insurance marketplace is what can force prices to be reasonable for consumers. Affordable insurance plans are not always too good to be true. Policies that cover what they say they cover for a reasonable price are possible to find.
Due to the prevalence of scams people are often skeptical. Many people believe that affordable insurance seems too good to be true. In some instances that is actually the case. However, in other cases, it is the insurance agent or agency pricing their products so that more people have access to them. Competitive policy pricing is key for agencies to stay relevant.
Shopping around for health insurance shows how policy prices vary from location to location. Shopping for insurance is a smart move that, in the final analysis, is going to save money.
Do not forget to ask about what the policy does and does not cover. The content of your policy is the most important factor in coverage. To find the best combination of coverage and price, speak to an experienced insurance agent.
Visit EZ.Insure today to get matched with a free quote, work with a licensed agent and learn more about your coverage options!
If you have heard this once, you have heard it more times than you can count — “Read the fine print.” This is actually really good advice because there is things in an insurance policy you need to know and you will not find out about them until you need to use your health insurance and then find out that what you needed to use it for is not covered.
Your health insurance policy tells you a variety of things not the least of which is what it covers, but also, what it does not cover. If you do not read the entire policy, you could be in for a surprise later. However, insurance policies tend to be dense and complex. If you find that you have questions or concerns about your insurance policy, talk to your insurance agent.
Insurance agents are there to answer all of your questions. No one wants to be in a situation where they were sure their health insurance policy covered all they needed and wanted, but because they did not read the entire policy, it turned out to not be the case. To avoid a situation where you are faced with mounting medical bills, discuss your policy with informed insurance agents.
To read more about the benefits of health insurance or to get a free quote, visit EZ.Insure today!
When it is time to get health insurance, the first thing people think is that they cannot afford it and that they will not be able to find what they need, so why bother. Contrary to popular belief, you actually can find reasonably priced health insurance by taking the time to shop around.
We do not often buy the first car or house we see, so why would we buy the first health insurance policy we find? To that end, ask around and get at least three to five different quotes from different insurance agencies. For example, ask for a quote from an insurance company that sells all types of insurance, including health insurance and then, ask an agency that only sells health insurance. Three to five quotes offer you a wider variety of choices before making the final buying decision.
Never buy the first policy you find no matter how much of a good a deal you think you may be getting. Why? Because you will not know if it is the cheapest deal unless you compare it to other options and other policies with other agencies. If by chance the first policy does turn out to be the cheapest, then you have made a great buy.
Another way to save money on buying an insurance policy is to trim it down to what you absolutely really need. There is no sense in over-insuring. So just make certain you have enough coverage, but that you are not paying for coverage that you do not need and would never use. Along the same line of thinking, give some consideration to a high deductible plan and a health saving account combination or ask an insurance agent what would be a good health insurance combination that meets your needs but does not break your budget. There are often incentives and financial breaks to be had in a combination health insurance plan, so ask and find out what you could save.
Are you still employed and receive work-sponsored health care insurance? Even if you buy supplemental health insurance, it tends to be less expensive than going out on your own and buying a policy. A workplace sponsored health insurance plan tends to be cheaper than private insurance.
The real secret to finding reasonably priced insurance? Shop around, be diligent in asking questions, do not over insure yourself and seek ways to reduce your payments (if you get company-sponsored insurance). It may take time, but in the end, you are likely to get what you actually want and need.
Everyone knows that in some form or another, they need health insurance, whether it is for an individual or a family. But the problem is, where is the best place to look for and eventually buy it?
Before actually buying insurance, it is a good idea to research the market and discover what type of plan is the most beneficial for you or your family. There are certainly a lot of choices available, but the fact is that not all insurance is created equal. Asking the neighbor what they have for health insurance may sound like a good idea, but when you check it out you find that it would not suit your needs.
Where to start? Make sure to have a list that outlines who needs insurance, what they want and require, the birth dates and social security numbers of everyone, pre-existing conditions, and whether or not they smoke. In general, smokers pay a higher rate for health insurance.
The next step would be to compare prices for policies you think may be suitable. Most insurance websites are fairly comprehensive, but realistically speaking, cannot list or outline all possible alternatives for insurance coverage.
So long as you have a general idea of what you want and need, it would likely save you time to fill out the contact form and ask an insurance agent to contact you. Use the list you made with your information on it and make sure to ask as many questions as you can. The insurance agent is going to know what you need and what would likely be a good fit for your budget and circumstances.
Be alert for any possible discounts available on different plans. Perhaps there are one or two that are close in coverage, but one is pricier than what you wish to pay. Ask about a discount. You never know until you ask. If you are intending on purchasing more than one insurance product, absolutely ask for a discount. Start with your existing insurance company first to see if they can offer you a deal and when they cannot see what else is out there.
One other tip you can use to your benefit is to look specifically for an insurance agent or agency that only sells health insurance. You are guaranteed to find something that suits your needs simply because the company does not sell a wide range of other products and can instantly ensure you get what you are looking for. Since they specialize in health insurance, they would be up-to-date with the latest new policies and be able to explain them to you in greater detail than a general all-purpose insurance agency that sells other insurance products and health insurance.
The final piece of advice to help you find insurance is to spend the time to read all the conditions and terms in the policy you are considering. You have to know what is and what is not in the policy so you do not run into a sticky situation later when you need health insurance coverage and find out that something is not covered.
While paying higher insurance premiums has discouraged many Americans from opting in to health insurance, in truth not having health insurance means a person would pay the full cost of medical care if they were hurt or ill.
Americans demand the very best in health care. While medical technology is developing rapidly, with the advancements, the price of medical care is going up. Currently, the price of insurance is built into what the hospital/medical professional is charging for services.
Here is how that works. Health insurance carriers work with a network of medical facilities and physicians to negotiate fees for office visits, prescription drugs, various procedures and other costs. In order to take advantage of the negotiated rates, individuals need health plans. Health insurance plans will cover some or most of any medical costs for insured individuals. However, those who do not have health insurance pay full price for all medical expenses.
Anyone opting out of health insurance because they may think they are healthy does not allow for protection from sudden, unexpected accidents or illnesses. Medical costs escalate quickly and unforeseen medical events can ruin a person’s financial health.
In any situation that requires medical care, it is best to have some form of insurance to help defray expenses. If an employer does not offer medical plans then the individual marketplace is the best place to source affordable options. If you are self-employed, a small business owner, a student or entrepreneur, the individual insurance market is the best option to find a plan that suits your circumstances.
As the current administration has been implementing changes to the health care system, it is difficult to know what kind of policy will suit your situation and budget best. When in doubt, reach out and talk to an experienced insurance agent who can help you choose what type of health insurance policy will protect you at a price you can afford.
Low deductible health insurance plans were once very popular, offering low out-of-pocket expenses in the event of a major medical claim or an emergency. Low deductible health insurance plans still exist, but the trend now is to buy high deductible plans instead.
There are a number of ways to buy a high deductible health insurance plan, with the most common way being to buy a Health Savings Account (HAS). Customers with families are able to save several hundred dollars per month by opting to buy a Health Savings Account plan. HSAs offer one deductible for the family with no co-insurance and once the deductible is met, those on the plan are 100 percent covered.
Many people have difficulty with HSAs and are not able to utilize the full benefits offered. Often, many people do not invest their savings into the account. Regularly adding money the account means the funds in it are tax deductible and any interest earned is tax deferred. HASs are a good investment in you and your health. Perhaps the biggest benefits for account holders is their account can pay for any medical bills. Additionally any funds left over will roll over each year.
When buying a high deductible health insurance plan it is best to add supplemental benefits. In fact the two most often bought plans are the Accidental and Critical Illness plans. Having extra coverage is a smart thing to do as roughly 59 percent of all medical claims filed are for critical illnesses and approximately 19 percent are filed as a result of an accident. It is also important to remember that a health savings account plan covers all wellness exams 100 percent. Wellness exams include immunizations, pap smears, PSA exams, mammograms and colonoscopies.
With the current administration the health insurance marketplace is in flux, if you take the time to research your options, you will find plans that suit your lifestyle and budget.
One of the first executive orders President Trump signed was to pave the way for Congress to repeal and replace the Affordable Care Act (ACA). That order came one week after the House of Representatives passed a Senate budget resolution bill opening the door for the first step in a three step process to repeal the ACA.
A “reconciliation directive” in the budget resolution bill instructs four committees that oversee the federal healthcare program to draft legislation to repeal the ACA. The four committees involved include: the Energy and Commerce Committee in the House; the Health, Education, Labor and Pensions Committee in the Senate; the Finance Committee and the Ways and Means Committee.
The resolution bill gave instructions to complete a draft of repeal legislation by January 27, 2017. This deadline was unrealistic, as discussion about which parts of the ACA to repeal took more than only a couple of weeks. It is not clear what parts of the ACA, if any, are to be preserved.
The next step in the complete repeal and replacement of the ACA, is for the four committees to send their plan, also known as budget reconciliation, to the budget committee. Following this, both houses of Congress will take a vote, and a simple majority is necessary for the reconciliation to pass. Only after the vote, will parts of the ACA be repealed.
The last step in the process of ACA repeal and replacement is a comprehensive healthcare plan to replace the ACA. Following the release of the American Health Care Act, the Republican plan to replace and repeal the ACA a debate erupted between the Democrats and Republicans regarding the protection of coverage for low-income people.
The growing opposition to the proposed Republican healthcare program will likely affect the timeline of the repeal and replacement of the ACA.
Many Americans are hoping for a reform in the health insurance system. They are hoping that the Trump administration delivers on its promises regarding health care. People want choices and perhaps that is what the incoming administration is planning to accomplish. It is not clear what changes may be made yet.
What most do no know is that in many states people only had one choice for their health insurance. What is worse is that in other states people had no choice in health insurance. Moreover, many of those who did sign up for insurance through the ACA, were unable to pay their premiums. Many people who qualified for the ACA, did not qualify for government subsidies.
The idea of the ACA was to get the young and healthy people to sign up to provide a cushion for those older Americans who do need health insurance more often. This, however, was not very successful. Young people were priced out of the market, as current wages do not keep up with the rising cost of living.
Obviously the health care system is incredibly imbalanced and a ponderously expensive entity that needs work to make it function well. Much like immigration reform, a replacement for the ACA is going to take some foresight and careful consideration.
According to president-elect Donald Trump, Americans have suffered under the weight of a massive economic burden brought about by the Affordable Care Act (ACA).
Apparently the Affordable Care Act was passed into law without much foresight, resulting in out-of-control costs, non-functional websites, higher premiums, less competition in the insurance industry and a greater rationing of care. As a result of the legislation, every American was allegedly faced with uncertainty of the ACA collapsing, causing even greater economic concern and hardship when it came to health care.
President Donald Trump’s administration suggests that on day one of a new administration free market reforms would be introduced into the health care industry by completely repealing the ACA. Replacing the repealed legislation would be the next task and the administration indicates it would have such reforms ready that closely follow free market principles geared to restore certainty and economic freedom to all Americans. Free market principles combined with sound public policy are intended to broaden health care access, improve the quality of care and make it more affordable.
The proposed seven-point plan touted by president-elect Donald Trump to make health care more affordable for all Americans will allegedly:
- Lower health care costs for every American
- Remove uncertainty about health care
- Offer financial security for Americans
- Tackle other policy revisions to lower the cost of health care
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Enforce immigration laws to relieve economic pressures on Americans in health care
- Stop fraud and waste and energize the American economy
- Reduce the number of people accessing programs such as Children’s Health Insurance, Medicaid
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Work on growing the economy by bringing jobs and capital back to the United States
- Reform mental health services
It appears that the plan to reform health care in the United States is ambitious and may result in some significant changes for Americans. While it is not precisely clear how many of the proposed reforms are to be implemented and what may be designed to replace existing health care legislation, there are many industry pundits who feel that change may be a good thing to stimulate the economy.
The country is on the brink of a new era and it appears that approaching health care with a different point-of-view may produce some interesting results, not only for the people, but also for the insurance industry as a whole.
The insurance industry is complex and adjusting how its products are marketed may have a negative impact on consumers. Economists swear by a free market environment as being beneficial to all who participate in it.
But would a free market environment work for the insurance industry? To answer that question, a group of economists studied Medicare Advantage, where beneficiaries chose from alternative cost-sharing arrangements and restricted provider networks. A healthy 32 percent of seniors have opted for Medicare Advantage where the government pays insurers a fixed fee to cover patients, not a separate service fee as in traditional Medicare.
Based on the growing numbers of seniors opting for Medicare Advantage, it appears they find the competition for their business and the choices they are offered to be very appealing and beneficial. According to House Speaker Paul Ryan, choice and competition are better options when it comes to selecting health insurance. It appears research supports his contention.
What does the future hold? It may be interesting to see what happens when the transition from one administration to another completes.