Limit you liability by adding accident coverage to fill in the gaps of your health insurance. Over 80% of claims are accident related. Accident supplements are relatively cheap, usually around $30 for an individual or $60 for a family. Even if you have a low deductible ($500 or less) through your employer, your max out of pocket could easily be $3000 or higher. The accident rider will fully cover your deductible, coinsurance and copays in the case of an injury. This means if you have one accident in over a eight years the plan will pay for itself. We help file more accident related claims than anything else. The current trend it arrange your plan so that is has a high deductible ($2500 or higher) without a copay, but add the accident rider. Consumers are reducing their premiums to half of what they were paying compared to traditional plans. You can find an accident quote instantly free.
Are accident supplements a good add-on to health insurance?
June 8th, 2010 by myoregonhealthinsurance No comments »Are health savings accounts a good idea?
May 27th, 2010 by myoregonhealthinsurance No comments »The answer for most people is yes. HSA qualified plans are simply major medical health insurance plans that offer additional tax savings. The main benefit is the health insurance plan. They are the safest health insurance plan on the market. Your total out of pocket if federally regulated. For example, it is the only plan that will cap out at $5,000 for an individual. That number also includes prescription coverage. Most traditional plans offer a max out of pocket but it does not include copays and medications. Brand name medications could potentially cost you thousands a year if you are diagnosed with an illness.
The whole reason we have insurance is to protect us against catastrophic loss, right? So, why take a traditional plan that has large gaps in the coverage. The tax savings helps as well. You can deduct you health insurance premium fully off you taxes if you paying for your premium. This is the same with all health insurance plans. However, with an HSA, you will be able to deduct up to $3000 additional for an individual. This deduction includes any medical, dental or vision expense. Not only would you have a very secure plan with an HSA, but you will be able to deduct additional expenses incurred over the year.
Most consumers that have health insurance are over-insured. This means they have bought too much coverage. And I am saying this as a health insurance agent. There are many ways to lower your total healthcare cost without adding risk. Contact us if you would like to learn more. The insurance companies pay agency to help with your plan, thus it is free to use a health broker or agent. Take advantage of the services.
Everyone loses with doctor office copays on their insurance plan.
May 24th, 2010 by myoregonhealthinsurance No comments »They seem like a great idea, but the typical person does not visit the doctor more than four times a year. The consumer will pay for those copays whether they use them or not. One idea is to find a plan that does not have the copay option. Many carriers offer plans with and without copays. For example, plans that are HSA (health savings account) qualified do not offer copays. Meaning, you would pay for your doctor visits out of your own pocket. Now keep in mind that the copay only covers the doctor. You still will pay for the additional labs and xrays that are performed. However, you would save money in premium.
Health insurance plans without a copay are typically 20-30% less than with a copay. This way you can control where your money goes. You can find an easy illustration of the premium savings by running a free quote for yourself at My Oregon Health Insurance. You can select the filter for Assurant Time. They have plans that you can view with or without a copay. The only difference in the plans is the copay and premium. A family in their 40s will save about $140 by simply removing the copay option. A typical family does not visit the doctor 10-12 times a year. Thus, the family would save hundreds a year.
Health insurers and doctors lose as well. Doctors will charge three times or more than the cash price. I have a chiropractor that will charge me $65, but will charge my health insurer $150 if I use my copay. The physician needs to charge this due to the extra staff needed to bill the health insurance and it could take up to 90 days to be paid.
In a nut shell, we and our healthcare system lose when copays are added for our convenience. Let’s be more proactive and take control of our healthcare dollars. Compare your health plan to others available.
Are we over-insured in the United States?
May 20th, 2010 by myoregonhealthinsurance No comments »Healthcare and medical costs have become more of a business than a service to consumers. The bottom line or the profit margin is becoming the main concern for healthcare and insurers in America. However, us as consumers are as much to blame for this downturn. We have moved away from the original concept of insurance. Health insurance was designed to protect us against catastrophic loss. If we move back to the basic idea of health insurance, we could help lessen the inflation of the healthcare industry. This is of course one of many steps we could do, but it is one that we can initiate without government involvement. You can begin by moving to a simple major medical plan without all the bells and whistles. If you are in relatively good health; increase your deductible. Keep in mind a health insurer will not give you a refund if you do not use the services.
