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Posts Tagged ‘health insurance’

Workers pay 21 percent of health insurance

Posted by admin on July 19, 2011

A new study shows that the average private sector worker pays over 20% of the cost for their healthcare plan.

WASHINGTON, July 15 (UPI) — U.S. private-sector employees paid 21 percent of the cost of their health insurance in 2010 while employees with family coverage paid 27 percent, officials say.
A report by the Agency for Healthcare Research and Quality, part of the Department of Health and Human Services, says health insurance premiums nationwide averaged $4,940 for single coverage and $13,871 for family coverage last year.
Among the 10 largest states, the annual cost of single coverage ranged from $4,669 in Ohio to $5,220 in New York, and family coverage ranged from $13,083 in Ohio to $15,032 in Florida, the report says.
However, 18 percent of employees with single coverage and 10 percent of employees with family coverage were not required to pay for any part of their employer-sponsored health insurance.
The data are from the Medical Expenditure Panel Survey, a detailed source of information on the health services used by Americans, the frequency with which they are used, the cost of those services and how they are paid.

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Health insurance cover should be increased in India: FICCI

Posted by admin on July 18, 2011

With more and more poor people in the country getting into the debt trap due to medical expenses, Ficci today said steps needs to be taken to increase health insurance penetration, which currently covers only 15 per cent population.
The chamber said that affordability of healthcare across the pyramid is extremely pertinent and critical to achieve the goal of providing quality healthcare to the masses.
“The long-term vision to make quality healthcare affordable for the country should be to increase the health insurance penetration to at least 50 per cent of population by the year 2020 and 80 per cent by the year 2030,” Ficci said.
As per NSSO data, nearly 65 per cent of India’s poor get into debt and 1 per cent fall into BPL each year because of health issues. It is also estimated that by 2025, 189 million Indians will be at least 60 years of age.
In its bid to help insurance regulator IRDA in planning regulations in the health insurance sector, Ficci has offered a wide range of recommendations.
They have been made on issues like standard definitions for critical illness, standardisation of list of excluded (non-medical) expenses, standard treatment guidelines and billing procedures.
The recommendations assumes significance as policy holders were left in a quandary last year following deadlock between the four public sector insurers and major private hospitals over cancellation of cashless medical treatment facilities.
Following hectic negotiations and intervention of Court, a truce was reached between insurers and hospitals and cashless services were partially restored.
“Recommendations on standard definitions for critical illness and standardisation of list of excluded expenses in hospital indemnity policy are in the process of being notified by Irda,” Ficci said.

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Get an Affordable Health Insurance Plan Today

Posted by admin on July 16, 2011

Don’t be Caught Unprotected!
Even though there was the financial recession and people were losing their purchasing power but demand for reasonable health insurance plans were moved up steeply and now also its keep on increasing. A research has discovered that there are around 46,000 deaths happening per year because of lack of affordable health insurance. This looks very pathetic situation that cannot be permitted to continue, some corrective measures are need to be taken right away.

Each and every prospective client of health insurance plans has to evaluate his/her needs properly. The person who is usually has good physical condition and only periodically visit the physician can choose for a policy that has good co-pay with lesser monthly premiums. But people who are suffering from constant illnesses and need to go for repeated visits to the doctor, will get an insurance plan that has superior monthly premiums but much lesser co-pay because it is more cost-effective.

The entire process will take hardly few minutes
If you are in such position where you need regular treatment or drugs, you will be recovered with a plan that provides you the best cost for your medicine. You have to spend some time in the beginning and try to identify a quality healthcare provider by browsing one of the popular websites. When you visit through internet you will get several numbers of websites and out of them some will give you convenient ratings of different insurance companies in many categories such as pricing, coverage options, monthly premium, customer service, co-pay and overall customer satisfaction. While you are suppose to take a critical decision on which insurance company to stay for, that time this kind of pre-researched information will be useful.

If you are favorable and working for a corporation that offers therapeutic benefits then you will have a choice of different alternatives that the company will offer to you. On the other hand, if you are unemployed, self-employed or working for a small corporation that does not provide any health care benefit; in such case you have to look for a good quality reasonably priced health insurance on your own. As things are developing drastically, fortunately there are some websites which allow you to get several quotations from a number of various insurance providers.

So you need not visit huge number of websites and spend you valuable time to get a quotation. The entire process will take hardly few minutes and you can quickly make a comparison among different companies based on their nature and rates of quotes so that you can arrive at a decision. There is no need to say that, every resident in USA should have got the quality and reasonably priced health coverage and be in a place to select the coverage that best meets their needs. It is ultimate liability of the health insurance companies to discover ways to keep the citizens healthier.

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Medicaid improves health and budgets of poor

Posted by admin on July 8, 2011

(Reuters) – Medicaid, a government health insurance program designed to help the poorest of the poor, is giving people unprecedented access to doctors and also improving their finances, a study co-authored by the Harvard School of Public Health has found.

The study, released on Thursday, showed that new recipients of Medicaid reported better physical and mental health and were less likely to go into debt to pay their medical bills.
The fate of Medicaid — the health program for people and families with low incomes and resources — has been hotly debated for its role in the ballooning U.S. deficit. The Obama administration’s healthcare overhaul passed last year requires all U.S. states to extend eligibility to millions more people by 2014.
The study followed health outcomes a year after a 2008 Medicaid expansion in Oregon, where 10,000 uninsured low-income adults won coverage through a lottery.
The results show that Medicaid helps poorer Americans well beyond the default safety net options that exist for people without coverage, according to the researchers from Harvard, the Massachusetts Institute of Technology, the National Bureau of Economic Research and Providence Health & Services.
“Some people wonder whether Medicaid coverage has any effect. The study findings make clear that it does,” Amy Finkelstein, professor of economics at MIT and co-principal investigator of the study, said in a statement.
“People reported that their physical and mental health were substantially better after a year of insurance coverage, and they were much less likely to have to borrow money or go into debt to pay for their care,” she said.
The study found that newly insured Medicaid recipients sought healthcare “substantially and statistically significantly” more than those who did not get the opportunity to apply for the program.
The lottery winners also spent less on out-of-pocket medical expenses, had less medical debt, were more likely to follow doctors’ recommendations on preventive care, buy medication and overall said they enjoyed better health.
An especially large impact was seen in broader access to care. Newly insured adults were 70 percent more likely to report regular clinic or office visits for primary care and 55 percent were more likely to say they visit a particular doctor.
Medicaid coverage also reduced the likelihood that participants would have to borrow money or miss paying other kinds of household bills to pay for their healthcare needs by 40 percent. The likelihood of having a medical bill sent to a collection agency dropped by 25 percent.

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Know the information of Dental Insurance

Posted by admin on July 5, 2011

How does dental insurance work?
Dental insurance works in much the same way that medical insurance works. For a specific monthly rate (or “premium”), you are entitled to certain dental benefits, usually including regular checkups, cleanings, x-rays, and certain services required to promote general dental health. Some plans will provide broader coverage than others and some will require a greater financial contribution on your part when services are rendered. Some plans may also provide coverage for certain types of oral surgery, dental implants, or orthodontia.

What kinds of dental plans are available?
Like health insurance plans, dental insurance plans are usually categorized as either Indemnity or managed-care plans (Dental PPO plans fit in this latter category). Put broadly, the major differences concern choice of dental care providers, out-of-pocket costs and how bills are paid. Typically, Indemnity plans offer a broader selection of dental care providers than managed-care plans. Indemnity plans pay their share of the costs for covered services only after they receive a bill (which means that you may have to pay up front and then obtain reimbursement from your insurance company).
Managed-care plans typically maintain dental provider networks. Dentists participating in a network agree to perform services for patients at pre-negotiated rates and usually will submit the claim to the dental insurance company for you. In general, you’ll have less paperwork and lower out-of-pocket costs with a managed-care dental plan and a broader choice of dentists with an Indemnity plan.

What is the best dental plan for me?
Although there is no one “best” dental insurance plan, some plans may work better for you and your family than others. Plans differ primarily in how much you’ll have to pay monthly for your coverage and how much you’ll have to pay when dental services are rendered. Some plans will require that you pay a certain co-payment for services, or meet a specific deductible before the dental insurance company begins payment. Other plans may limit coverage to a specific dollar-amount maximum per year.
When reviewing your dental insurance options, here are a few questions to ask yourself:

How much will it cost me on a monthly basis?
Will I be required to meet a deductible? Once the deductible is met, how much will the dental insurance provider pay for my services?
What dentists participate in the plan’s network? Are these dentists that my family and I would like to see?
If I used a dentist outside the plan’s network, how much will I have to pay?
Are there waiting periods for certain procedures?

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