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Today’s News: Wisconsin Mandates Auto Insurance, Chinese Drywall Bill Helps Home Insurance Customers and FedEx Offers Same-Sex Health Benefits

Posted in Auto Insurance , Compare Health Insurance , Health Insurance , Liability

July 23rd, 2010
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Wisconsin is about to become the 49th state to mandate minimum liability auto insurance while the House of Representatives in Louisiana is about to mandate that home insurance companies keep their policyholders after filing a Chinese drywall claim. Also, employees who work for FedEx will now be able to take advantage of health insurance benefits for same-sex domestic partners.

Wisconsin Mandates Minimum Liability Auto Insurance Coverage

As of Jan. 1, 2010, only two states did not mandate auto insurance for their residents: Wisconsin and New Hampshire, but soon this all will change.

Beginning June 1, 2010, Wisconsin requires motorists to carry an active auto insurance policy and have proof of coverage at all times to avoid facing citations and fines. The minimum liability coverage limits for Wisconsin, which were mandated in January, are $50,000 for injury death to one person, $100,000 for two or more people and $15,000 for property damage. They also need uninsured/underinsured coverage of $100,000/$300,000 for bodily injury. (Official Wire)

Home Insurers Required to Honor Chinese Drywall Claims

Last year, a major issue erupted when thousands of homeowners realized the Chinese drywall in their homes was making them sick. When they filed claims with their home insurance companies, however, many policyholders’ accounts were dropped. The Louisiana House of Representatives has decided to combat this by approving a bill that will prohibit insurers from dropping or not renewing homeowners and businesses who file claims for Chinese drywall. If insurers do not comply with the bill, they could face fines of up to $15,000. (Nola)

FedEx Offers Health Insurance Benefits to Same-Sex Domestic Partners

As of Jan. 1, 2010, shipping giant FedEx offers health insurance benefits to same-sex domestic partners nationwide at the request of its employees. The company currently offers these benefits to employees working in California and in its division FedEx Office. The reason that the health insurance benefits package will be effective in 2012 is to give it time to re-add a package that was cut due to the recession. When it comes available, it will not be offered to unmarried heterosexual couples. (WHNT – Memphis)

Understanding the Health Insurance Exchange

Posted in Compare Health Insurance , Health Care , Health Insurance

July 15th, 2010
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There have been a number of changes resulting from health care reform. One immediate change has been extending adult children’s health insurance coverage under a parent’s policy until their 26th birthday. Another major change is that no one can being turned down for health insurance due to pre-existing conditions.

One of the changes that actually helps uninsured acquire coverage is making its way from state to state: the health insurance exchange. To get a better understanding of how it could affect you, let’s take a closer look at what it is.

What is a Health Insurance Exchange?

Health insurance exchanges are places where consumers can go to compare various policy options and select the one that is best for them. These exchanges are meant to lower insurance costs for consumers who are self-employed or don’t have coverage available to them via an employer with discounts through group coverage. By pooling insurer plans together in a similar way, consumers will have access to group-like rates.

The federal government has given states the option of establishing their own state-run health insurance exchange, or to go with a regional creation. Technically, the health insurance exchanges are not supposed to form until 2014, but many states have taken it upon themselves to start sooner.

What Types of Coverage Will Health Insurance Exchanges Offer?

The health insurance exchanges are expected to offer the same or similar types of coverage options as employers, meaning that you may have PPO, HMO or POS options to choose from. Depending on the plan you choose, you could have specific co-pays, deductibles or coinsurance options available as well. The idea of the exchange is to open up the number of affordable options for those who currently struggle to obtain coverage, but the options within each exchange are likely to be similar.

Who Will Qualify?

The exchanges will first be available to people who work for small businesses with fewer than 100 employees and don’t have access to coverage through the employer. For instance, if you work for a company that does not currently offer coverage, the exchange could help you find insurance at an affordable rate. Also, the exchanges will be available to those who are self-employed and don’t have access to group plans.

Those who work for larger companies will be given access to the exchanges. However, they will only qualify for coverage if their employer’s coverage doesn’t meet new standards for cost or comprehensiveness. Also, those who have been offered coverage through high-risk pools for pre-existing conditions will have access to coverage only six months after discontinuing their coverage with the pool.

Are There Any States Currently Offering Health Insurance Exchanges?

Currently, only Utah and Massachusetts run health insurance exchanges. Utah’s exchange is a website that consists mostly of links to various websites where consumers can acquire insurance information. However, Massachusetts’ site offers health insurance quotes right on the site to help consumers find affordable coverage.

West Virginia is another state that plans to participate in health insurance exchanges. While its exchange is not up and running, the insurance commissioner plans to have it ready for launch sometime in 2011. The reason the state was able to get an early start was because it received a $37 million federal grant to help implement health care reform during the next five years.

Health insurance exchanges are expected to lower the cost of health insurance across the board, making it more affordable for everyone. With the mandate that Americans will need to acquire some form of coverage by 2014, a cost reduction will indeed be the order of the day.

Insurance Companies Decide to Cease Rescissions

Posted in Compare Health Insurance , Health Insurance

May 5th, 2010
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It seems that some health insurers have decided to jump on board with the rules and guidelines put in place by health care reform before expected. Recently a couple of health insurance companies have announced that they will officially cease rescissions before the official restriction takes place in September.

What is a Rescission?

If you’re not familiar with the word rescission, it references the act of a health insurance company to revoke an insurance policy after an individual has already been insured. The reason for revoking the policy, however, is not due to a malicious act by the policyholder.

Instead, it is because the insurer discovers that the policyholder has gotten sick then combs through medical records to find some type of preexisting condition – a good enough reason to cancel the policy.

The act of rescission is a major issue for health care reform and a major factor in the health care law. Now that the bill has passed, health insurance companies have a short amount of time to change their policies and begin abiding by the new law.

Some Insurance Companies Changing Now

In a pledge to begin treating patients fairly, a couple of major health insurance companies and a trade group that represents other plans have decided to start abandoning the act of rescission before September. Recently, Karen Ignagni of America’s Health Insurance Plans sent a letter to U.S. House Democrats noting that the industry was taking steps to make changes.

This would make sure that “individuals and families will have greater peace of mind when purchasing coverage on their own,” she wrote.

The step made by insurers could indeed help individuals and families feel secure about their options when it comes to health insurance. Hopefully these health insurance changes are just a few of the many to come in the near future.

How Do I Change My Health Insurance Plan?

Posted in Compare Health Insurance , Health Insurance

April 13th, 2010
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Recently President Barack Obama signed the Healthcare Reform Bill into law. Those happy with their current health insurance plan will not be greatly impacted and will still be in control of their plans and can feel free to choose betweenPPO or HMO policies. That initial choice is usually locked into by a contract for a minimum time period of a year.

When You Can Change Insurance Plans

If over that time a person decides that they want to swap the type of coverage they selected for themselves or for their loved ones via a family health insurance plan, open enrollment periods are that sweet window of opportunity for changing the type of health insurance coverage previously selected.

Some states, but not all, have laws on the books that require insurance providers to offer a month-long open enrollment time span in which people can make changes to their existing health coverage or opt for a new provider entirely.

This opportunity only comes once a year, so those trying to find options for a cheap health insurance plan need to investigate the specific time periods from health care providers of interest and make note.

The rest of the process includes:

• Research It will be up to the insured to conduct their due diligence in investigating all the health insurance options available and choose which one best works into their plan and budget. It is also important to find out exactly when your new policy will begin and ensure your old one is in place to prevent any lapse of coverage.
• Application Individuals will be required to complete a lengthy application regarding the medical history of all those who will be covered.
• Acceptance Until 2014, health insurance providers can still reject health insurance plans for those with pre-existing conditions. Until that point, you are encouraged to keep your existing health care coverage until you have received acceptance into the new plan selection.
• Proof of Insurance Make sure that your new health insurance plan provider gives you documentation in the form of “proof of insurance.” This may be required to cancel your old policy.
• Cancellation If you are switching from a HMO to PPO within the same health insurance provider, this step may not be necessary. If, however, you have opted to choose a completely different health insurance plan, writing a letter stating the date of new coverage and the cancellation of the old may be in order. Proof of insurance may be required to let you out of your contract agreement.
• Pay Up If you have any old debts that need to be settled, do so now and make sure to keep any documentation proving you have done so.

Organization and dedication to the task are the two key attributes that will make your health insurance policy change go through without a hitch.

Top 6 Things To Keep in Mind When Comparing Health Insurance Providers

Posted in Compare Health Insurance , Health Insurance

November 25th, 2009
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According to Harvard Medical School, 45,000 people die annually because of their lack of health insurance. Staggering statistics and the overall difficulties preventing consumers from accessing affordable health care is currently being addressed by our government in the battle for health care reform. Until any of those regulations and new programs take affect, states will determine how individuals can secure health insurance and options are generally limited to:

• Employer Coverage
• State managed high risk pools
• Individually purchased private insurance

The number of people expected to purchase private insurance is expected to rise since employers are cutting health insurance benefits.

Top 6 Health Provider Considerations

Americans need to know how to compare health insurance providers in order to make the most appropriate choice.

• State Laws -The laws of your local state govern your selection of health care provider options. You need to first familiarize yourself with your rights as a policyholder and to find out exactly how your health care provider can determine your premium, coverage options and the reasons you may be denied health care coverage due to preexisting conditions.
• Consumer Confidence – If you are comparing health insurance companies, you need to conduct your due diligence and search sites such as the Better Business Bureau and JD Power. By checking what consumers are saying about their health care experiences, you have a better chance of finding a quality provider.
• Standings with local Department of Insurance – Your local department of insurance website lists all the complaints filed against local health insurance companies. If you discover nothing but horror stories regarding denied claims, claim caps and bad customer service, think twice about choosing that provider.
• Financial Health – Insurance companies need to be in top financial shape in order to have the funds necessary to pay off claims. A.M. Best Company can make the task of checking the books easy – just search for the provider in question and look for an “A” rating.
• Consumer Reports – For decades, consumers seeking independent advice for all their shopping needs have relied on Consumer Reports for the scoop. The company now has a website dedicated to all things health and you can learn from their experience and research.
• Coverage Details – Options for coverage include a PPO, POS or HMO plan. You need to read and compare not only the type of plan but the specific details like claim limitations, deductible responsibility, coverage for prescription drugs and the handling of preexisting the conditions. Knowing how to compare health care plans will provide you with more valuable insight to consider

Do you have any other tips regarding comparing health insurance providers? If so, please feel free to post your comments and let others benefit from your personal experience.

Best Ways to Save on Health Insurance: Lead a Low-Risk Lifestyle

Posted in Compare Health Insurance , Health Insurance , Health Insurance Quotes , Save on Health Insurance

May 5th, 2009
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Return to the Save on Health Care Learning Center >>>

Importance of Comparing Health Insurance

Posted in Compare Health Insurance , Health Insurance , Health Insurance Quotes , Save on Health Insurance

April 29th, 2009
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Are you wondering why it’s important to compare health insurance coverage when searching for a policy? The answer is simple. Without checking out your options, you will likely pick up the first plan you see and never know what better choices were available to you.

While this may work out for a small percentage of the population, you don’t want to take that chance that it won’t work for you. So to dissuade you from taking this route, let’s look more closely at why it’s important to compare coverage for health insurance.

You Don’t Want to Miss Out On the Best Rates

There are a ton of health insurance companies out there all vying for your attention. They hope that they can make you their next customer. As a result, they offer rates they think might lure you in. Why not take advantage of them? Of course, you don’t want to snatch the first low rate you see without comparing policy coverage and limitations. But after you do your comparison shopping, you can at least know that you’ve probably found the best monthly premium, co-pay, and deductible options to suit your needs.

Health Insurance Plan Choices Are Vast

There are numerous types of plans to consider that were created to suit various needs based on financial and service preferences. For example, you could choose an HMO plan that offers affordable rates (low co-pay, low monthly premium, no deductible); however, it doesn’t allow many options in physician selection, and limits services available. The PPO gives you many more options you pretty much have all of the freedom you want but you pay for it in price. POS is the happy medium between the two, giving you a little bit of freedom and reasonable prices. Without knowing these health insurance options are available to you, you might be stuck with a plan type you really don’t want.

Searching Online Makes it Easy

Still wondering why it’s important to compare coverage? Well, it’s too easy not to. The Internet makes finding health insurance a breeze with free online quotes and plenty of informative articles on ways to save. By taking advantage of so much free information, you can make sure to choose the perfect option for you and your family.

If you are not accustomed to comparing health insurance its not too late to get started. Once you’re done and have obtained your policy, you’ll then be able to inform the next person about why it’s important to compare coverage with confidence.

Do I Have to Pay a Deductible for an HMO?

Posted in Compare Health Insurance , HMO , Health Insurance , Health Insurance Claims

April 27th, 2009
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When reviewing characteristics of HMOs, you may wonder whether you are responsible for paying a deductible. This is a good question, considering that some types of health insurance coverage require that you do.

What is a Deductible?

If you’re not sure what paying a deductible means in the world of health insurance, it’s not much different than with auto insurance or any other type of coverage that requires that you make some type of initial payment before receiving treatment. Depending on the type of insurance plan you take on, you may have to be responsible for a deductible, but with HMOs, this is not your responsibility. This is definitely one of the perks associated with this type of plan.

What Other Benefits Come from HMOs?

While not paying a deductible is a major advantage of HMOs, there are others:

• Low monthly payment. Because this type of coverage is limited in who you get to choose for your care (your primary care physician chooses what specialists you will work with), you get to take advantage of lower coverage, which results in a lower monthly payment.
• Low co-payments. Another benefit of HMOs is low co-payments. Typically, visits range from $5 to $20, and even emergency room visits are reasonable.

While there are numerous benefits to taking on HMOs, there are a few disadvantages as well, so it’s good to check out as much as you can about this type of coverage before signing on. But if you’ve done your research and like what you see, there’s nothing wrong with getting away with not paying a deductible.

Choosing Between 2 Health Insurance Companies

Posted in Compare Health Insurance , Health Insurance , Health Insurance Quotes

April 24th, 2009
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Trying to find a health insurance company that will suit all of your needs, but unsure of how to choose between two that you really like? You’ve probably already looked at rates and coverage options, but are still scratching your head in wonder about which one to select. Don’t worry. There are some other ways to narrow the list down. Let’s look at what they are.

How Financially Stable is the Insurer?

Being in the midst of a recession, it becomes increasingly important to make sure that no more companies will shut down, taking your money with them. Luckily, there are ways to check the company’s financial rating so that you won’t lose your coverage when the company collapses. Many sites that offer side-by-side comparisons offer the rating right next to the company and policy choice. If you see an A or higher, you know the health insurance company at least for the moment is financially stable.

Have Any Complaints Been Filed Against the Insurer?

Another tip on choosing a health insurance company is seeing if any complaints have been filed. By checking with your state’s Department of Insurance website, you can find out this information in a few minutes.

Check Out Top Health Insurance Company Lists

This option can be considered a last resort if you’re still trying to decide between to comparable insurance companies. Once or more a year, various websites publish lists detailing the top companies of the year based on information from reputable sources such as the National Committee for Quality Assurance. On these lists, you can learn why they have been chosen as the top companies, as well as what types of plans they offer. If one of your companies is on the list, you’re in luck as you have been given more insight into how to choose a health insurance company without any bias injected into the equation.

It’s no secret that choosing a health insurance company can be difficult. But hopefully, these tips on how to choose will help make comparing health insurance companies easier.

Having trouble finding a reputable health insurance provider? Fill out our health insurance form and within a few minutes, you’ll receive online rate quotes from some of the best health insurance companies at no charge. You’ll then be able to pick the insurer that best suits your needs.

Finding Health Insurance Quotes Online

Posted in Compare Health Insurance , Health Insurance , Health Insurance Quotes , Online Health Insurance

April 23rd, 2009
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If you’re looking for your own health insurance then you’re probably a little overwhelmed. Like most people, you’ll start your search on the Internet, typing in keywords that seem like the smartest and most likeliest terms for finding health insurance quotes. And then the deluge: Your problem won’t be a lack of information and options, that’s for sure. Finding health insurance quotes online will make your head spin with all the different offers and quotes and intimidating fine print. There are some common-sense rules of thumb that you can employ, however, to make your search for online health insurance quotes a successful one.

Rules of Online Health Quotes

When you go looking for health insurance quotes online, the key is to be aware and alert. You’ll be asked to fill in some general information, and then you’ll get some very general, ballpark information that will require a very close look. This is where being aware and alert comes in. It means getting a health insurance quote, and asking yourself serious questions about it. “What’s in the fine print? WHERE is the fine print? Does this offer seem too good to be true? Who is offering me this quote? Is this a well-known health insurance provider?” Questions like these and others will help you properly evaluate the many online health insurance quotes your searching will lead you to.

Good Places to Find Health Insurance Quotes Online

One good place to start your search for health insurance quotes online is Go Insurance Rates. It caters to people who are looking for the best health insurance for their needs – without promoting any one, single health insurance provider over another. That’s important, because objectivity is important: Many online health insurance quote providers are linked to a specific health insurance company, and so your results will be skewed to their product. That’s where being alert and aware comes in handy again, because if someone is pushing a product on you and they don’t reveal their relationship to that product, then you’re getting biased information that could result in you getting health insurance that’s not right for you.Go Insurance Rates instead offers a variety of providers who are matched up to you based on your specific information; you’ll then receive a variety of quotes you can use to ultimately decide.

Finding health insurance quotes online is easy. Before you begin, make a list of questions to ask yourself as you evaluate your options. After all, health insurance boils down to your health and your money, two things you don’t want to mistreat.