by: Kay Lowe
In light of today's health care costs, a better question would be, "Can I afford NOT to have health insurance?".
Indeed, medical expenses are a leading cause of bankruptcy in the US.
A health insurance plan should be an essential part of any responsible financial plan, whether married or single.
Even young, healthy adults should bear in mind that a single emergency room visit can cost hundreds, even thousands of dollars, and intensive care can cost thousands per day.
And that's not even counting the costs of prescription drugs.
There are steps to take to minimize the expense of health insurance.
Many employers offer health insurance as a benefit for employees.
Rates for group health insurance such as this are usually lower than private insurance rates; employers can negotiate better rates as a group.
Labor and trade unions also may offer group health insurance for their members.
Spouses and children can often be added to most employee health plan, though the rate will be higher.
Premiums for employer-sponsored health insurance can be deducted from the employees' paycheck, often with pre-tax dollars, increasing the savings.
Many employers offer multiple health plans.
The employee may be able to select from PPO, HMO, and traditional plans.
Compare the options, check the policy to determine what medical expenses are covered, and select the plan that most suits the needs of you and/or your family.
If a group plan is not available, private health insurance coverage is available.
Private health insurance is usually more expensive than group health insurance, but there are ways to minimize the rate.
Shop around and compare rates offerd by various health insurance companies.
Health insurance companies usually offer lower rates for younger persons, for nonsmokers, and those with normal weight.
Rates will be higher, or coverage denied for pre-existing health conditions, for those working in high-risk occupations, and those who engage in high-risk activities such as race car driving.
A relative newcomer to health insurance plans is the health savings account, or HSA.
An HSA allows the individual to save money to pay routine health care expenses, deductibles and co-pays.
The IRS allows this money to be set aside pre-tax as well.
HSAs are paired with a health insurance plan with low premiums and high deductible to cover major health expenses.
In a sense, the individual is "self-insured" for routine health care, with a major medical plan for bigger expenses.
Many experts predict that HSAs will become more popular in time as an alternative to traditional health insurance plans.
Whatever health plan that you choose,
health care coverage is essential.
A major surgery and/or extended critcal care stay could easily bankrupt any individual or family.
Consider the options available.
Be certain of what is and is not covered, and consider how appropriate that coverage is for your situation.
About The Author
Kay Lowe holds a Master's degree in health care and has 30+ years experience in the health care field.
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Donating Used Cars For A Cause
Donating Used Cars For A Cause
by: Gregory Ashton
Modern technology has produced a surplus of goods which we find difficult to dispose of. While many of us are sensibly reaping the fruits of our contemporary development and affluence, it is not a bad idea to share some of our blessings to financially disadvantaged people.
What to donate?
There are hundreds of things to donate, as there are various ways to do it. As more and more people suffer from financial burden, increasing numbers of people are incapacitated to reach out to different places and are an impediment from the many opportunities waiting for them in the outside world.
Cars are considered to be one of our primary needs in this modern time. While more than 80% of most American adults own cars or at least renting their own cars, there are still some who cannot finance the purchase of their own automobiles.
This can isolate individuals and discriminate against...
Donating Used Cars For A Cause
Car insurance > Donating Used Cars For A Cause
A Primer On Finding & Selecting Medical Insurance
A Primer On Finding & Selecting Medical Insurance
by: Joe Leech
At one time, only a few such as the self employed really had
to know much about selecting medical insurance because for
many years, the majority of the working population was
working in "employee" status and Medical Insurance was a
company benefit, and one that had very few choices involved.
Today that benefit is either disappearing or being offered
with choices ranging from family plan to PPO to HMO to no
participation; choices also include the amount of payroll
deduction based on plan choice, and it?s a complex situation
to decide.. does one opt for the plan with a $500
person/$1000 max deductible which has virtually no payroll
deduction, or the plan with the $250/500 but with a $25 per
month deduction. Of course those figures are arbitrary for
the purpose of the article and cited only as examples.
But there are choices that can...
A Primer On Finding & Selecting Medical Insurance
Car insurance > A Primer On Finding & Selecting Medical Insurance
Car Insurance ? How Did They Calculate That?
Car Insurance ? How Did They Calculate That?
by: Joseph Kenny
Insurance premiums are calculated according to several risk factors. These are the factors identified by the insurance company as most likely to have an impact on the insured against risk occurring. Insurance is a significant cost associated with the item insured and should not be rushed into. It is always a good idea to shop around for the best price available. Insurance premiums will vary considerably from insurer to insurer so do your homework.
Shop Around
Look up the various insurance companies you are interested in and ask them for a quote. They can usually give you a rough estimate fairly quickly and even more exact quotes should also be possible if you provide more details and wait. You should also look up insurers online and get instant quotes from their website. This is a very fast and effective way of shopping around. You will get a good idea of what prices to expect....
Car Insurance ? How Did They Calculate That?
Car insurance > Car Insurance ? How Did They Calculate That?
Critical Illness Insurance. Big Changes On The Horizon
Critical Illness Insurance. Big Changes On The Horizon
by: Michael Challiner
In recent years sales of critical illness insurance have flagged. The primary cause is the huge 70% increase in premiums experienced during recent years. For many, critical illness insurance has simply priced itself out of the market.
It's not that critical illness insurance is a bad idea. After all it pays out a lump sum if the policyholder is diagnosed with one of the many critical illnesses listed on the policy and the policyholder survives at least 28 days from diagnosis. (Note: some policies have a 14 day survival period.) Most policies have a huge list of insured illnesses although about 60% of claims are for cancer ? not surprising, as 1 in every 3 people will develop cancer sometime in their lifetime. In fact when you look at the concept of Critical illness insurance you can easily make a case that everyone living on earned income should have a policy. It's...
Critical Illness Insurance. Big Changes On The Horizon
Car insurance > Critical Illness Insurance. Big Changes On The Horizon
Can I Afford Health Insurance? hats
Can I Afford Health Insurance? photo printer Car insurance
Can I Afford Health Insurance?
Can I Afford Health Insurance? Car insurance
Can I Afford Health Insurance?
Can I Afford Health Insurance? gold ring
LCD TV Checklist: Are you Prepared?
LCD TV Checklist: Are you Prepared?
by: Tim Jeffries
LCD flat screen TVs provide a superior picture as compared to a traditional television - and they can come in more attractive styles to boot. A flat screen LCD TV can be mounted on a wall, under a cabinet, on the ceiling? or can sit on a stand or on top of furniture. LCD TVs are versatile, flexible, and provide a better entertainment experience? but how do they work?
LCD flat screen TVs, and LCD technology...
Can I Afford Health Insurance? Car insurance
Car insurance > LCD TV Checklist: Are you Prepared?