Posts Tagged ‘health insurance comparisons’

Knowing Your Company Personal Medical Insurance Program

Wednesday, May 26th, 2010

If you are in business, it can be a good investment to take care of your employees and their families. While there are various forms of personal medical insurance plans, medical coverage is always a priority. Most of your employees will have the need for prescription medicine help at sometime. Perhaps you have been fortunate enough to have good coverage when you worked for a company. However, there are others who feel that they need to get one for themselves and for their families. The need for a personal medical insurance plan and prescription medicine help is key.

If you are a small business, there are companies that specialize in providing personal medical insurance and prescription coverage to you. Other companies just focus their medical and prescription coverage on individuals and families. In this event, it would be quite wise to have a clear group health insurance quote that is provided by the companies of your choice. This is the only way to really compare what you are getting to the premium that you will be paying. Depending on the services you want, you will be able to see exactly what the company is charging based on your selection of benefits. Please be cautious and ensure that there is rx access incorporated in the plan.

The most efficient way for you to be able to make a solid decision is by means of narrowing down your choices of providers. Make sure that you have told each company exactly what you are looking for so that the comparisons can be fair and meaningful. This is a wise approach that you can do to be able to make sure that you will be making the best decision and get the best value for your money. Access to a good personal medical insurance plan and rx help is a especially vital item and something you have to take the time to study.

The Cost Of Expensive Medication

Tuesday, October 27th, 2009

While the cost of prescription medication continues to increase, many Americans just simply do not have adequate personal medical insurance coverage for this expense and they need prescription drug help. In the United States, actual spending on prescription drugs went up 17.4% from 2005 to 2006 while the average cost of prescription drugs rose 10.2%. This everyone but creates a real burden on lower income, uninsured Americans who may be forced to choose between paying for much needed prescription medicine or food and housing. A recent Harris Poll of 1300 adults found that 23% of those surveyed had not filled at least 1 prescription for medicine during the year in order to save money. The problem is even greater in households with lower incomes. In households with incomes less than $25,000, 40% did not fill at least 1 prescription, and 30% took prescription medication less often than prescribed to save money.

It is estimated that close to 12% of all hospitalizations are because the patient wasn’t taking the medicine that their physician prescribed. For the vast majority it was because they couldn’t afford it. This creates a real burden for local hospitals and communities because if the patient couldn’t afford their medication, how are they going to be able to afford to pay the hospital bill?

Health Insurance Comparisons

Tuesday, August 4th, 2009

healthinsurance Health Insurance Comparisons1)Uninsured. This is where an individual has no insurance. It is estimated at least 15% of Americans fall into this category.

2) Managed Care Plans. Managed Care Plans fall into three categories. All are essentially networks to provide contracted services by specific providers at contracted prices:

i) Health Maintenance Organizations (HMO) are prepaid plans in which members pay a fixed monthly fee, regardless of how much medical care is needed in a given month. HMOs usually insist that you stay within the network when you need services from physicians and hospitals and the amount you have to pay is little to nothing for your’ care.

ii) Preferred Provider Organizations (PPO) are groups of doctors and hospitals that provide medical service to members at a pre negotiated fee. PPO members receive a higher co-insurance benefit if they go in network typically pay a higher out of pocket if they go out of network.

iii) Exclusive Provider Organization (EPO) and Point of Service (POS) are hybrid plans of PPO and HMOs. These plans are not very common.

3) Indemnity Plans enable participants to seek health care whenever they need. Participants can visit any doctor or specialist, as often as they feel necessary. There are no restrictions when it comes to seeking medical help, but this is by far the most expensive type of health insurance plan.

Which of these types of health insurance is right for you will depend on your personal situation. Choosing health insurance coverage is a time-consuming task and it can certainly be frustrating, but it’s something that everybody needs to consider sooner rather than later.