• Health Insurance ..
  • HMO PLAN
  • HSA plans

Health Insurance Plan

Securing Health Insurance for Your Future | Protect Yourself & Family

Unforeseen medical issues & emergencies can strike at any time. Know the facts and get excellent coverage for you and your family.

Affordable Health Insurance

With rising healthcare costs and the uncertainty of life where medical issues and emergencies can crop up all of a sudden, it pays to get health insurance with adequate coverage. A wide variety of public and private insurance options are available for you and your family, from which you can take your pick.  

Types of health insurances

Whatever State in the US you live in, you can find a variety of health insurance plans to choose from. There are many companies that offer plans with different types of coverage for group, family, individual, students and short term. While getting standard health insurance plans is easier for healthy people, finding pre existing condition medical insurance could be a tough task. Many insurance companies deny coverage if the applicant has pre existing health conditions as such cases are labeled as risky. Still, you shouldn’t give up easily if you have a chronic ailment or some pre existing conditions. Guaranteed health insurance can be the ideal bet if you have been denied coverage by traditional plans due to your pre existing conditions.

Some other health insurance plans worth considering include:

  •          HMO
  •          PPO
  •          POS
  •          Health Savings Account
  •          Accident insurance
  •          Critical illness insurance, and
  •          Life insurance

Where to search

Picture:health insurance maze “Don’t feel confused with all the choices. Speak with one of our representatives today and alleviate the stress of uncertainty.”

You can ask insurance agents of reputed companies to help you in your search to find the right health insurance plan. Alternately, you can go online and surf through various portals that list several insurance companies and plans categorized under different States. Since guidelines and rules for insurance policies sold and bought within a State vary from one State to the other, getting to know about them would help in your final search of an affordable policy. Remember – these guidelines and rules can have a significant effect on premium rates and several other factors related to health insurance. Therefore, you need to be aware about the rules applicable in your State to make informed decisions about health coverage.

Whether you need to find a low cost coverage plan in Florida, or shortlist a group health insurance plan for employees of your Georgia based business, such websites can help. It’s advisable to choose providers that are given excellent rating by A.M to ensure that they have the financial ability and strength to pay your medical claims.

 

HMO PLAN

Bid adieu to limited indemnity coverage with HMO plans

When seeking health insurance, comprehensive coverage is the most important factor to consider. As most plans offer limited indemnity, either in terms of what they cover or how much in terms of costs, this search becomes more important. HMO (Health Maintenance Organization) plans are the perfect solutions for such situations. These are plans that cover most of your medical expenses and are extremely popular today. Before choosing a good HMO plan for you or your family, you should understand the basics of these plans.

Steps involved in HMO plans

When you choose an HMO plan, you need to pay a monthly premium in addition to the co-payments for medications and doctor visits. Choosing a primary care physician is the first step when you opt for these plans. It is essential that your chosen primary care physician is on the HMO network list. Non medical emergencies are usually covered under this plan only if you choose a specialist based on the recommendation of your primary care physician. It's important to check out the network provided by that plan. Ideally, choose a plan with a large network as it allows you sufficient options to choose from.

Pros and cons of HMO plans

Primarily, choosing an HMO plan is definitely advantageous because it believes in preventive care more than the treatment. So, if there is any likelihood of seeking healthcare for pre existing conditions, especially in the early stages of the ailment or because you have genetic reasons to believe you might attract such ailments, this is the perfect plan for you. With the help of this plan, not only do you lead a healthier life but you actually do so at much lower costs. Additionally, this plan is extremely convenient as you are not burdened with the aspect of filing your claim forms and seeking reimbursement. While this plan offers extensive freedom and flexibility, the only drawback is if you choose a medical provider outside the network. This plan does not offer coverage for any cost that you may incur due to such outside reference, making it a burden on you. Apart from this, as mentioned earlier, this is not a plan with any limited indemnity but is truly comprehensive.
While HMO plans are great for seeking health care for pre existing conditions as well as otherwise, it would help if you could identify a proper primary health care physician. Ideally, the chosen PCP (Primary Care Physician) should be situated closer to your home or office, and should offer good and timely medical services. Having a certain level of comfort with your PCP is essential as they'll be prescribing your referrals.

 

HSA plans

HSA plans – perfect alternatives to individual health insurance for you

With more flexible and affordable options like HSA (Health Savings Account) today, there is less reason to be uninsured. Here's what's important to understand about these plans:

Important aspects about HSA plans

These plans offer savings accounts that are exempted from taxation, where the money saved can actually be used for any medical expense you might incur. The insurer is given a debit card, which can be used for paying any medical expense in establishments that take major credit cards. In case you do not have your HSA debit card readily available, you could pay for the expense in cash and get it reimbursed by filing a claim. Incidentally, this plan will pay for all your medical expenses including doctor's bills, hospital stays as well as any medication or prescription you might require. Interestingly, any amount that you use from this account for medical purposes is not taxable. However, the money that is present in your account cannot be used for any non medical purpose. In case of such use, it's immediately penalized whilst also being taxed. HSA plans are available as those that offer individual health insurance for all in addition to being available as group plans.
Usually, there is a limit to the amount of money you can contribute to and spend through this account in a year. The IRS (Internal Revenue Service) sets the limit for contribution to such accounts every year. An individual can contribute a maximum of $3,100 to his/her HAS account in 2012, which is more than the ceiling of $3,050, which was applicable in 2011. For family coverage, the 2012 HSA limits for maximum annual amount are set at $6,250, which is an increase of $100 over the $6,150 in 2011.
In 2012, the minimum annual deductibles for family coverage and self-only coverage are set at $2,400 and $1,200 respectively.
When it comes to yearly out-of-pocket expenses (co-payments, deductibles, and other amounts, but excluding premiums), the amount can’t surpass $5,950 and $11,900 for self-only coverage and family coverage respectively.

Pros and cons of HSA plans

When you start putting money into your HSA account, it's present for you whenever you want it. In other words, there is no limitation as the money keeps rolling over year after year. Additionally, the money also earns an interest by virtue of being in your account, which allows you to bank on more money being available for your medical expenses. Given that the money does not attract any tax, it is definitely the best option available for the young and the healthy. However, the biggest and perhaps the most important disadvantage of HSA plans is the fact that they don’t cover those with pre existing conditions.
So, if you are someone who is healthy, young and without any pre existing conditions, the HSA plan is something to consider, given its affordability as well as its convenience.
Resources:
http://www.hsacenter.com/2012limits.html
http://401k-employee-benefits.com/1523-hsa-limit-2012-contributions

 

Health Insurance Plan

Securing Health Insurance for Your Future | Protect Yourself & Family

Unforeseen medical issues & emergencies can strike at any time. Know the facts and get excellent coverage for you and your family.

Affordable Health Insurance

With rising healthcare costs and the uncertainty of life where medical issues and emergencies can crop up all of a sudden, it pays to get health insurance with adequate coverage. A wide variety of public and private insurance options are available for you and your family, from which you can take your pick.  

Types of health insurances

Whatever State in the US you live in, you can find a variety of health insurance plans to choose from. There are many companies that offer plans with different types of coverage for group, family, individual, students and short term. While getting standard health insurance plans is easier for healthy people, finding pre existing condition medical insurance could be a tough task. Many insurance companies deny coverage if the applicant has pre existing health conditions as such cases are labeled as risky. Still, you shouldn’t give up easily if you have a chronic ailment or some pre existing conditions. Guaranteed health insurance can be the ideal bet if you have been denied coverage by traditional plans due to your pre existing conditions.

Some other health insurance plans worth considering include:

  •          HMO
  •          PPO
  •          POS
  •          Health Savings Account
  •          Accident insurance
  •          Critical illness insurance, and
  •          Life insurance

Where to search

Picture:health insurance maze “Don’t feel confused with all the choices. Speak with one of our representatives today and alleviate the stress of uncertainty.”

You can ask insurance agents of reputed companies to help you in your search to find the right health insurance plan. Alternately, you can go online and surf through various portals that list several insurance companies and plans categorized under different States. Since guidelines and rules for insurance policies sold and bought within a State vary from one State to the other, getting to know about them would help in your final search of an affordable policy. Remember – these guidelines and rules can have a significant effect on premium rates and several other factors related to health insurance. Therefore, you need to be aware about the rules applicable in your State to make informed decisions about health coverage.

Whether you need to find a low cost coverage plan in Florida, or shortlist a group health insurance plan for employees of your Georgia based business, such websites can help. It’s advisable to choose providers that are given excellent rating by A.M to ensure that they have the financial ability and strength to pay your medical claims.

 

HMO PLAN

Bid adieu to limited indemnity coverage with HMO plans

When seeking health insurance, comprehensive coverage is the most important factor to consider. As most plans offer limited indemnity, either in terms of what they cover or how much in terms of costs, this search becomes more important. HMO (Health Maintenance Organization) plans are the perfect solutions for such situations. These are plans that cover most of your medical expenses and are extremely popular today. Before choosing a good HMO plan for you or your family, you should understand the basics of these plans.

Steps involved in HMO plans

When you choose an HMO plan, you need to pay a monthly premium in addition to the co-payments for medications and doctor visits. Choosing a primary care physician is the first step when you opt for these plans. It is essential that your chosen primary care physician is on the HMO network list. Non medical emergencies are usually covered under this plan only if you choose a specialist based on the recommendation of your primary care physician. It's important to check out the network provided by that plan. Ideally, choose a plan with a large network as it allows you sufficient options to choose from.

Pros and cons of HMO plans

Primarily, choosing an HMO plan is definitely advantageous because it believes in preventive care more than the treatment. So, if there is any likelihood of seeking healthcare for pre existing conditions, especially in the early stages of the ailment or because you have genetic reasons to believe you might attract such ailments, this is the perfect plan for you. With the help of this plan, not only do you lead a healthier life but you actually do so at much lower costs. Additionally, this plan is extremely convenient as you are not burdened with the aspect of filing your claim forms and seeking reimbursement. While this plan offers extensive freedom and flexibility, the only drawback is if you choose a medical provider outside the network. This plan does not offer coverage for any cost that you may incur due to such outside reference, making it a burden on you. Apart from this, as mentioned earlier, this is not a plan with any limited indemnity but is truly comprehensive.
While HMO plans are great for seeking health care for pre existing conditions as well as otherwise, it would help if you could identify a proper primary health care physician. Ideally, the chosen PCP (Primary Care Physician) should be situated closer to your home or office, and should offer good and timely medical services. Having a certain level of comfort with your PCP is essential as they'll be prescribing your referrals.

 

HSA plans

HSA plans – perfect alternatives to individual health insurance for you

With more flexible and affordable options like HSA (Health Savings Account) today, there is less reason to be uninsured. Here's what's important to understand about these plans:

Important aspects about HSA plans

These plans offer savings accounts that are exempted from taxation, where the money saved can actually be used for any medical expense you might incur. The insurer is given a debit card, which can be used for paying any medical expense in establishments that take major credit cards. In case you do not have your HSA debit card readily available, you could pay for the expense in cash and get it reimbursed by filing a claim. Incidentally, this plan will pay for all your medical expenses including doctor's bills, hospital stays as well as any medication or prescription you might require. Interestingly, any amount that you use from this account for medical purposes is not taxable. However, the money that is present in your account cannot be used for any non medical purpose. In case of such use, it's immediately penalized whilst also being taxed. HSA plans are available as those that offer individual health insurance for all in addition to being available as group plans.
Usually, there is a limit to the amount of money you can contribute to and spend through this account in a year. The IRS (Internal Revenue Service) sets the limit for contribution to such accounts every year. An individual can contribute a maximum of $3,100 to his/her HAS account in 2012, which is more than the ceiling of $3,050, which was applicable in 2011. For family coverage, the 2012 HSA limits for maximum annual amount are set at $6,250, which is an increase of $100 over the $6,150 in 2011.
In 2012, the minimum annual deductibles for family coverage and self-only coverage are set at $2,400 and $1,200 respectively.
When it comes to yearly out-of-pocket expenses (co-payments, deductibles, and other amounts, but excluding premiums), the amount can’t surpass $5,950 and $11,900 for self-only coverage and family coverage respectively.

Pros and cons of HSA plans

When you start putting money into your HSA account, it's present for you whenever you want it. In other words, there is no limitation as the money keeps rolling over year after year. Additionally, the money also earns an interest by virtue of being in your account, which allows you to bank on more money being available for your medical expenses. Given that the money does not attract any tax, it is definitely the best option available for the young and the healthy. However, the biggest and perhaps the most important disadvantage of HSA plans is the fact that they don’t cover those with pre existing conditions.
So, if you are someone who is healthy, young and without any pre existing conditions, the HSA plan is something to consider, given its affordability as well as its convenience.
Resources:
http://www.hsacenter.com/2012limits.html
http://401k-employee-benefits.com/1523-hsa-limit-2012-contributions