Insurance

Wednesday, January 31, 2007

Health Insurance Companies: 5 Things to Look For

It's a simple fact that even some very good health insurance companies lack a few of the following 5 things. Be a discriminating health insurance buyer and make sure that the health insurance company that you choose receives a passing grade in all 5 of these areas:

1. Large, Stable Networks [If you have never heard of them before then it could be that your doctor never has either].

2. Excellent Customer Service [This should go without saying].

3. Comprehensive Policies [No Annual Caps or Limits - no indemnity policies or health discount plans unless all other alternatives are exhausted; TIP: Simply look up Discount Health Plan Warning in any major search engine and take a look].

4. Competitive Pricing [There is very strong competition amongst the "Big 3" that many other companies could have trouble competing with unless they give up ground on 1 or more of these other 4 things].

5. Claims-Paying Ability [Financial Strength].

When it comes to being fully prepared why does it make sense to depend on one of the "Big 3" health insurance companies: United Healthcare, Aetna, or Humana? Aren't there some other good companies out there? The answer is, "Yes, there are many good health insurance companies out there with great people working for them."
However, in all practicality almost all people will find the best policy from one of the "Big 3" health insurance companies: United Healthcare, Aetna, or Humana. The "Big 3" are all very strong in each of these 5 areas.

Again, there are many other good companies out there but a health insurance company must be strong in each of these 5 areas to truly be a health insurance company that your family can depend on for years to come.

Comparison Shop Multiple Companies Instantly and in Real time: Aetna, Humana, United Healthcare and More and Apply Online.

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posted by Zak @ 9:59 PM 0 comments

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Health Insurance: Your Rights Under State Law

Health insurance is regulated at the state level and as such there are certain very important state regulations that you should be aware of. These health insurance regulations vary from state to state. Do not make the mistake of assuming that the health insurance policy that you purchased in Pennsylvania will be governed under the same rules as the health insurance policy that you would like to purchase in Florida.

It would be close to impossible to go into a great deal of depth on the various regulations across all 50 states in this short article. However, there is a health insurance information site run by Georgetown University that allows the ability to view and print A Consumer Guide to Getting and Keeping Health Insurance.

Each of these health insurance Consumer Guides are state specific which can save you quite a bit of time in sorting through what does and does not apply to your state of residency. Do your research on the insurance rules and regulations in your state and then be sure to enlist the help of a qualified independant insurance agent to assist you. Be a knowledgeable consumer when shopping for health insurance and know your rights under state law.

Comparison Shop Multiple Companies Instantly and in Real time: Aetna, Humana, United Healthcare and More and Apply Online.
Free health insurance quotes

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posted by Zak @ 9:56 PM 0 comments

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Bush Proposes 2007 Health Insurance Tax Law Changes

During the January 2007 State of the Union address president George W. Bush proposed a new change in the tax law that could have the effect of lowering health care costs for millions of Americans. According to the Wall Street Journal, the government hasn't taxed employer-provided health insurance benefits but rather gives smaller tax breaks, or none at all, to many people who buy insurance themselves outside the workplace. The tax system is especially unfair to employees who work without traditional benefits, experts say. Effectively, Mr. Bush is proposing to eliminate the imbalance by giving everyone the same deduction -- $15,000 for families, $7,500 for singles.

The Treasury Department estimates that the change would prompt a net increase of five million in the number of Americans with health insurance. Health insurance rates have been pushed to competitive lows in recent years because of the increased price transparency that the Internet has brought to health insurance shopping. What used to be a process of days or even weeks to obtain up-to-date health insurance rate quotes is now something that can be done in less than a few minutes online with a few clicks of a mouse.

President Bush has stated that a family without insurance earning $60,000 could get a total tax savings of about $4,500 under the proposed plan. That includes $2,250 of income-tax savings and an equal amount of savings from payroll taxes. This type of tax benefit will certainly help those who are on the fence about seeking health insurance to make the jump to finding affordable individual health insurance coverage. Also, it is estimated that health savings accounts (HSA’s) will continue to grow in popularity they already offer tax benefits that will complement the proposed tax law changes. HSA tax benefits along with the proposed health insurance tax law changes could result in almost all Americans being able to afford a comprehensive health insurance plan.

Search for health insurance the easy way by taking 30 seconds to input your health information and then viewing free health insurance quotes from the top 5 companies that offer health insurance coverage in your home zip code at Health Insurance Quote 360.
Make sure that you use the price transparency of the Internet to find the most affordable and comprehensive health plan quotes in your home zip code!

Labels: Bush Proposes 2007 Health Insurance Tax Law Changes

posted by Zak @ 9:37 PM 0 comments

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Cheap Health Insurance-Save $1,200 in 15 Minutes

Cheap health insurance is still available – it has not gone the way of the nickel soda or the 10 cent candy bar. As with anything in life, information is power (you have to know where to look) and a little bit of hard work will go a long way (albeit a little bit of smarts along with hard work will go even farther).

So, let’s get down to it. Here are 3 things to do now (estimated time: 15 minutes) that if you actually do them could end up saving you $50, $100, or even more every month on you health insurance bill. If you would care to save $600, $1,200, or more over the next 12 months and use that money to go out to eat or go on vacation rather than giving it away to a large insurance company in extra premiums then start your 15 minute timer!

1. Evaluate your plan deductible carefully. Actuaries and product design specialists at insurance companies spend a lot of time and money to learn how they can best price their policies to maximize value for the company. This is not necessarily a bad thing as it is the goal of all non charitable companies to seek a profit. Overall, rates will stay competitive from company to company because of the competition factor. However, within the same company from plan to plan you may see interesting little differences in how the premiums change from one deductible level to another.

Try this little calculation: every time you compare a plan’s price, deductible level, and maximum out of pocket expense think of it in 12 month increments. Many people will over pay in premiums every month in order to have a lower potential out of pocket or to have extras that over the course of 12 months will cost more than if they had just paid for the extras out of pocket or kept a higher deductible.

2. Think tax smart. Take your little calculation from step 1 and add to it potential tax savings over the next 12 months. Health savings accounts make for a very attractive value proposition when you consider that an HSA’s balance rolls over from year to year (even better than a flexible spending account [FSA]), all contributions (up to IRS limits) are tax deductible, and the money grows tax free and is able to be used tax free for qualified medical expenses. The higher your tax bracket; the more advantageous an HSA is for you.

3. Get live up-to-date data. You are now armed and dangerous with your 12 month forward looking formula that incorporates premium level, deductible level, and out of pocket expense along with tax benefits. All that you now need is some up to date health insurance rates and plan features to plug into your formula. You could call up all of the insurance companies individually or you could let the ease of the Internet work to your favor. Let’s go; 5 minutes is left on the timer

Compare affordable health insurance quotes, learn how to save money on health insurance, and research health savings accounts (HSA’s) by visiting http://www.healthquote360.com/ Learn about options for Florida health insurance and save money by viewing instant health quotes from top insurance companies side by side. Let the price transparency of the Internet help you save money on your health insurance bill

Labels: Cheap health insurance is still available - if you know where to look

posted by Zak @ 9:08 PM 0 comments

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