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The debate about health care reform rages on with little discussion about the negative effects that all of us are likely to see. While the goals of health reform seem noble, an in-depth look will reveal the unintended consequences.
Higher cost - Health reform focuses on forcing insurance companies to cover pre-existing conditions and a myriad of other mandates for the benefit of those that have been irresponsible. Maintaining health insurance coverage long term eliminates any problems with pre-existing conditions. The proposed legislation will force insurers to cover those who have "taken a chance" to go uninsured and have the rest of us pay the bill.
Rationing of care - Reform includes having bureaucrats deciding what procedures individuals can have based on age and the severity of their medical condition. Those decisions are best left between a patient and their physician.
Lack of providers - As the government intrudes more into the practices of physicians and attempts to essentially make them government employees, our best physicians will call it quits. This intrusion and overbearing government will cause many physicians to realize they are unable to live up to their Hippocratic Oath and that it's simply not worth it.
Lower quality - One does not need to look far to realize that the government does not do things efficiently. Privately run health insurance companies and health care organizations have motivation to perform well and provide quality care and services. The free market and capitalism produces the best products.
Loss of choices - Reform legislation seeks to eliminate popular plan options such as HSA's (Health Savings Accounts) and penalize employers and insurance companies for offering plans rich in benefits.
While the future appears dim for health care choices, changes to our current system could still be many years away. Our current health care system and health insurance options are the envy of the world. Find out more about competitive plans in your area and get a instant, no-obligation quote by visiting FindMeAPlan.com.
Few people would question that the United States of America has the best health care system in the world. This has been made possible by the professionals dedicated to their cause. Doctors, nurses, surgeons and all of the other professionals that make up this industry have a calling to serve and to heal. Even those that are advancing technology in medicine are doing so with a goal of providing a better quality of life for their fellow man.
There have been numerous stories of world leaders leaving their homeland and their government run plans to seek medical attention in the U.S. The reasoning for this is obvious. The United States is the envy of the world when it comes to medical care. Their decision to come here has nothing to do with their insurance coverage. Why then did we need to reform health care? How do you improve upon the best? A news reporter covering the story recently referred to the debate in a way that most of the media has avoided. He called it "health insurance reform", not "health care reform".
This attempt at reform has not revealed too many stories of phony doctors, incapable surgeons, poorly run hospitals or faulty x-ray equipment. The reason is that it largely does not exist. The health insurance industry is the only industry truly being affected by reform. Everyone is rightly upset about insurance costs, therefore, insurance companies were easy to place a target upon. Does health insurance make the cost of an MRI or heart transplant more expensive? How could it when insurance is simply a reflection of the cost? Does hurricane insurance cost more in Florida or Iowa? Insurance costs are only the result of the potential loss and probability of that loss. Would it sound silly to say that your automobile policy made the cost of a new Mercedes Benz too expensive?
Although health care reform legislation is now law, true and responsible reform has been ignored.
Have you ever heard anyone say that they would purchase a luxury car, yacht or mansion if the insurance were not so expensive? Generally speaking, those who can afford these "toys" are not concerned about the cost of protecting them. There is no widespread problem of these items being uninsured because the owners know the value and the cost to repair or replace them.
Having good health is priceless. The cost, however, to repair a serious health condition can be more expensive than to repair or replace other big-ticket items that we own. Why then would we consider not protecting that which is most valuable with proper health insurance?
Forcing everyone to carry health insurance will not lower the cost of a medical procedure any more that forcing everyone to carry homeowners insurance will lower the price of that mansion. The true costs of goods and services are dictated by market forces and the insurance to protect those goods and services is simply a mirror reflecting the repair or replacement costs. It simply costs more to protect a yacht than a row boat.
Health care reform in its current form is a feeble attempt to lower insurance costs. Results can only be achieved when the high cost of health care services are addressed. How can we lower the cost of a heart transplant or cancer surgery? Better still, how can we avoid having to even face these procedures? These questions have answers, but have not been asked. Only then will health insurance reflect a lower price tag.
Despite public opinion polls throughout the health care debate, nearly everyone feels as though we needed some type of drastic reform. The problem is, no one could agree on what really needed reforming much less how to go about it. Reform seems to imply that something is not working at all and needs to be completely changed.
In reality, the health care system in the United States is the envy of the world. Sure, we are all upset about the cost of medical insurance, but everyone realizes that any type of insurance is only a reflection of the potential loss being insured. Products and services dictate the price of insurance, not the other way around as some would have you believe. Medical care is simply very expensive, with or without insurance.
Since we have the best of medical professionals, hospitals and technology already in place and insurers that do an efficient job of collecting our premiums and redistributing it to the providers, what is the problem with the system? Perhaps we need some responsibility reform.
One would be called irresponsible if they owned a very expensive home and did not insure that home against loss from fire. If the house burned down, would a construction company be required to rebuild the house for the owner free of charge? Certainly not, but it is just as absurd to realize that the hospital emergency room must treat anyone that shows up with or without insurance. Our emergency rooms are being used for non-emergencies which is irresponsible. That cost is being passed on to those who are responsibly protecting themselves.
There are programs in place funded by the government and well intentioned charitable organizations to assist the truly helpless. These citizens deserve to be cared for. The number of people in this category, however, is miniscule compared to those who are able bodied and make the choice to look for an entitlement. Using good health today as an excuse to not protect oneself from the medical and financial disasters of tomorrow begs for responsibility reform.
Responsibility cannot be legislated. It is a character trait that must be taught and learned. The most valuable lessons sometimes come at a high price. Plans that subsidize irresponsibility can only lead to further demise.
Everyone knows that health insurance costs in America are rising at unsustainable rates, and many are looking for ways they can save. High deductible health plans (HDHP) are often overlooked when searching for health insurance. It's a shame this is the case, because HDHPs can be a great way to save money on monthly premiums and can provide similar protection as other cadillac plans.
Let us first take a closer look at what a high deductible health plan is and how we can define it. The basic concept of an HDHP is by having a high annual deductible, one can purchase a plan with a low premium because of more exposure to health care costs. High deductible health plans must meet a minimum deductible dollar amount to qualify, and there must be a maximum dollar amount which the maximum out-of-pocket expense may not exceed. In Virginia, many health insurance companies have these high deductible health plans set up so the maximum out-of-pocket is nearly the same as their most expensive plans. A lot of times, health plans with lower deductibles and countless benefits will have a coinsurance rate after the deductible is met, where you pay that percentage of the health care cost until you reach the maximum out-of-pocket. Many high deductible health plans in Virginia are without coinsurance, which allows the out-of-pocket maximum be the same for the various health insurance plans. If you can live without some benefits of the cadillac plans, HDHPs can protect you from the catastrophies equally as well while keeping money in your wallet.
Another area to explore regarding HDHPs involves Health Savings Accounts (HSA). An HSA is a monetary account through an insurance company, bank, credit union, or investment company where you can place money into and watch it grow with interest. In order to set up an HSA, you must have an HDHP, as the two go hand in hand with each other. The account must be qualified as a health savings account, and any contribution made to the account can be written off as an expense for tax purposes. Therefore, if you need to withdraw money from your health savings account for a medical expense, you can pay that expense with pretax dollars and write the procedure off as an expense.
High deductible health insurance plans can be a valuable alternative to a standard health policy. When coupled with a health savings account, you can use pretax dollars to pay for medical expenses to relieve some of your tax burden. HDHPs generally always have lower premiums than health plans loaded with benefits you may not need. By using an HDHP, you can be protected from catastrophic events and lower the cost of your health insurance.
High Deductible Health Plans and Health Savings Accounts ByMark W. Brooks
As the cost of health care and health insurance continues to increase, consumers are actively looking for ways to lower cost. This increased cost, as well as the current health care reform efforts, have been beneficial for a couple of reasons. First of all, it has caused people to creatively look at ways to reduce premium cost. Secondly, it has caused us to consider what real purpose health insurance serves and evaluate our past coverage choices. Let's take a look at the components of using a Health Savings Account plan:
High-Deductible Health Plan (HDHP)
The Health Savings Account (HSA) coverage option has two components. The first component is a high-deductible health plan (HDHP). This is a major medical health insurance policy that has deductible options that meet guidelines established by law. Plans that meet the deductible criteria are considered to be "qualified" high-deductible health plans. There is an inflation factor whereby the deductible guidelines adjust on a yearly basis. These (HDHP) plans are considered comprehensive in the sense that all medical expenses large or small, even doctor visits and prescription drugs, are considered covered expenses and count towards the deductible.
It is important to note that there can be no benefits paid until the deductible is met on a qualified HDHP. For example, there can be no doctor office co-pay or prescription drug co-pay. Having an up-front benefit of this type would violate the guidelines and disqualify the HDHP. It is important to note that preventative care or wellness benefits are allowed to be covered before the deductible on a qualified HDHP. For plans that use Preferred Provider Organizations (PPO), you also get the benefit of discounted pricing for all medical visits and procedures by a participating provider.
One unique and well accepted feature of the HDHP is that there is only one deductible for a family. This means that the deductible can be met by a single family member having a large medical expense or by all family members combining medical expenses. Once the deductible has been met, the entire family begins to have expenses covered. The expenses after the deductible can be covered at 100% or by a coinsurance percentage until a family maximum out-of-pocket limit is met.
Health Savings Account (HSA)
The other component is a Health Savings Account (HSA). This is simply a qualified account for making deposits that can later be used for medical care. These accounts may be established with a bank, insurance company, credit union or investment company. The accounts must be "qualified" savings accounts and meet certain criteria established by law, therefore, it is important to verify that the account you are considering meets the qualifications. These accounts are interest bearing accounts and the funds can be accessed by debit card, writing checks or requesting a reimbursement of medical expenses paid. There are limits on the amount that can be contributed to an HSA each year:
2009 contribution limits -single $3000 -family $5950 *$1,000 catch-up for 55 or older
2010 contribution limits -single $3050 -family $6150 *1,000 catch-up for 55 or older
Here is the best part. Contributions to the HSA are deductible for tax purposes. This means that routine medical expenses, even things that are not covered under the medial plan such as dental, vision and over-the-counter medicines can be paid for with pre-tax dollars rather than after tax dollars.
Find out more about how a HDHP and HSA plan can work to save you money by visitinghttp://www.FindMeAPlan.com.
Using a high deductible on your Virginia health insurance plan to help lower the cost is not a new idea. More people would use this strategy if they understood the benefits of using a health savings account (HSA) along side the high deductible health plan (HDHP).
It is important to note that the HDHP and HSA plans need to be "qualified" plans for maximum tax benefits. This means that the HDHP plans meet criteria established by law regarding deductible and out-of-pocket limits as well as limits on the contribution amounts for an HSA. If these criteria are met, contributions to the HSA are deductible for tax purposes and the funds in the account can be used tax free for medical care.
In central Virginia, a 49 year old male with a spouse and child would pay $644 monthly for a benefit-rich health insurance plan that covers doctor office visits and prescription drugs for a co-pay before the deductible. The same family would only pay $210 monthly for a $5,000 HDHP-a monthly difference of $434 or a yearly difference of $5,208. A little simple math reveals why this plan works so effectively.
The yearly premium savings is slightly higher than the annual family deductible on the Virginia high deductible health plan. This means that even if this family met the deductible every single year, they are no worse off on the HDHP because of the premium savings. You would also have to consider these advantages of the HSA and HDHP:
*A $5,208 tax-deductible deposit into an HSA would save over $1,200 in federal income taxes considering a 25% tax bracket.
*Insurance company statistics show that premiums increase by a higher percentage on benefit-rich plans versus high-deductible plans. Assuming the premiums on both plans increased by 10%, the premium on the high-dollar plan would go up $64.40 ($644 x .10) while only increasing $21 ($210 x .10) on the HDHP.
As the cost of health insurance continues to increase, most people have had to come up with ways to curb these increases. The process should begin with giving some thought to the real purpose of health insurance. When premium costs were not the major issue, everyone focused on benefits. For many years, we became accustomed to very low or no deductibles and minimal co-pays for doctor office visits and prescription drugs.
Is insurance supposed to cover these small expenses on a first dollar basis? Would we expect our auto insurance policy to cover oil changes or new tires? Certainly not, but we were all okay with it when premium costs on health insurance were much lower many years ago. Now that cost is the major factor, we must consider the real purpose of insurance being the transfer of a large potential loss to the Virginia insurance company. Health insurance was never designed to cover doctor office visits or any other non-catastrophic medical expenses. Our desire for plans that are rich in benefits caused our fall into the mindset of thinking that these plans are the way it's supposed to be. Getting out of this mindset has been painful since no one likes to pay more and get less.
Increasing a deductible on your Virginia health insurance policy triggers a question in everyone's mind. Will I ever meet such a high deductible and am I wasting my money? Let's look at an example for a family in Virginia and make some comparisions:
Husband - age 49 Wife - age 49 Child - age 20
Plan Option 1: $500 deductible per person Co-pays for doctor visits and prescription drugs $644 monthly premium
Plan Option 2: $5000 family deductible No co-pays $210 monthly premium
In this actual example using premium rates from Anthem Blue Cross Blue Shield of Virginia, there is a monthly cost difference of $434 or an annual cost difference of $5208. Common sense tells us that no matter how many doctor visits or prescription drugs are needed, the entire family deductible of $5000 could be fully funded by the annual premium savings of $5208. Since it is not likely that the deductible will be met every year, part of the $5208 would belong to the customer rather than being given to the insurance company in high premiums.
Although we like the thought that our insurance is paying for our expenses, it becomes evident that the customer is actually the one that is paying through higher premium costs. A premium is a "guaranteed loss". The Virginia insurance company does not refund any portion of the premium if catastrophic health care is not needed in a particular year. Using the strategy of a high deductible guarantees the customer a profit every year that medical expenses do not exceed the premium savings. The dramatic premium savings between the two plans make it a safe bet for almost everyone.
Discover How You Can Get Health Insurance With Pre-Existing Conditions By Brandon Brooks
For most of us in the market for health insurance, the word "pre-existing" gives us a cringe that runs down the spine. We often can't help the fact we're currently being treated for a condition, and it seems unfair that this should keep us from getting coverage. But there can't possibly be a way to get insurance for conditions we're taking medication for, right? Let's examine this a little closer and find out for ourselves.
Let's first examine what a pre-existing condition is. A pre-existing condition can be defined as an ailment that you are taking treatment for prior to purchasing an insurance policy. Although there is much debate surrounding pre-existing conditions, they do make sense from the profitability standpoint of an insurer. Why would they want to cover you today for a condition you just started taking medication for yesterday? However, the new mandates issued by the Health Reform Bill will require all new health plans to cover pre-existing conditions immediately starting in year 2014. Be sure to keep updated with new changes and updates concerning the law, as final provisions will surely change as the Bill progresses.
Now for the important part: how do you get health insurance if you have pre-existing medical conditions? The easiest, most direct way would be to purchase coverage through your employer if offered. Although you may have to undergo a waiting period (usually up to 12 months) before the plan will cover your previously-treated conditions, you cannot be denied coverage. So once you play the waiting game, you can be insured and have the insurance company cover your pre-existing conditions. If you ever leave your current employer, in Virginia you have a 63 day window to either choose the offering of COBRA or purchase an individual plan where you won't have to undergo another waiting period for the conditions.
For self-employed individuals or anyone looking for a personal policy, the terms may not be quite as easy. There should not be much of a problem for healthy individuals obtaining coverage, but that is not who we are worried about. If you currently seek medical treatment for various ailments, you will have to endure the waiting period of 12 months before everything is covered. If you have a plethora of health issues which keep you from passing through underwriting, you may run into some issues. In Virginia, many insurers will offer what they call Standard Insurance Plans, which will allow you to be covered regardless of medical condition. As you can guess, these plans will have a very high monthly premium, and you have to wait 12 months for pre-existing conditions to be covered. Although this option may be not be affordable for most, it is still a viable way to be protected.
Another way to be protected with previous medical conditions on your record is to purchase short term health insurance. While these plans won't cover these conditions, they will give you a health policy to help if a catastrophe strikes. These plans may not be the route you are willing to take over the long term, but can help you during transition periods between employers or before Medicare.
Getting health insurance coverage with pre-existing conditions can be frustrating. When you are shopping for a health plan, be sure to keep these paths in mind. While alternatives may vary state-to-state, there are usually ways to get insurance even when the light seems dim. Don't wait until 2014 to seek coverage for prior conditions when the opportunity exists today.
The current recession has left many people nationwide scrambling to find new employment. For a lot of people, the loss of a job also means the loss of health insurance coverage The devastation of the job loss sometimes causes one not to fully consider all of their options when it comes to continuing to be covered by health insurance. Here are some suggestions to make sure that you are not left uncovered for a period of time.
Cobra - The Consolidated Omnibus Budget Reconciliation Act allows employees that lose their jobs to remain on their employer's group health plan for up to 18 months. Currently, the federal government is providing stimulus money to subsidize a majority of the premium. Although there is no guarantee as to how long this subsidy may continue, using the option for Cobra should be the number one consideration for anyone that has a pre-existing health condition.
Please note that you have 60 days after the loss of coverage to exercise your right to continue your coverage under Cobra.
Spousal Plan - If your spouse has group health insurance, a job loss is a qualifying event that allows you to immediately enroll in your spouse's group insurance plan as a dependent. Please note that you generally only have 30 days after loss of coverage to exercise this option.
Short-term medical coverage - If a job loss is just for a limited duration, a short-term medical plan may be the answer.
These plans have limited underwriting, are relatively inexpensive and can be purchased for 30, 60, 90 or 180 day periods of time. These plans will work well for those with no pre-existing medical conditions and are used to fill the gap before another plan begins.
Individual medical plans - Personal health insurance plans can be purchased and designed to meet your individual needs. You can choose your deductible, coinsurance, out-of-pocket maximum and other options such as physician office co-pays, prescription drug benefits, dental benefits and many more. Best of all, these plans have monthly premiums and can be discontinued at any time or continued indefinitely. Personal plans usually give credit for prior coverage, thereby waiving any waiting periods for pre-existing conditions coverage.
While losing a job can have a negative impact on your lifestyle, unexpected catastrophic medical expenses only complicate it further. Using one of these options can give you peace of mind that you and your family will continue to be covered. You can learn more about these options and get personalized quotes for short-term and individual plans athttp://www.FindMeAPlan.com.
The economy, or even a change in career path, could cause you to be faced with decisions regarding the issue of maintaining your health insurance coverage. Group health insurance plans generally stop when your employment ends. Only through COBRA (Consolidated Omnibus Budget Reconciliation Act) do you have the option of continuing coverage under the former employer's group insurance plan for up to 18 months.
This option is generally made available only to persons that were covered under a plan that covered 20 or more employees. Should you elect to choose the COBRA option and remain covered under the group plan? This option of portability has some advantages and disadvantages.
The cost of the COBRA option is expensive since you are bearing the full cost of the premium. The employer does not subsidize the premium in any way and may even charge an additional administration fee. Healthy individuals and families can purchase personal health insurance plans less expensive than remaining on the employer plan through COBRA.
COBRA can only be used to extend coverage for a certain period (generally 18 months). A healthy person takes a possible chance of developing a serious health problem while being on COBRA and having their coverage period expire. While HIPPA (Health Insurance Portability and Protection Act) guarantees portability to a personal plan in certain situations, a serious health problem would cause the premiums to be much higher on the personal plan. Having a personal plan that can be kept on a permanent basis eliminates this problem.
The main advantage of portability is for those with serious medical conditions. Having the ability to elect COBRA and then transition to a personal plan after COBRA ends is important. This means that the insurance company in Virginia, such as Anthem Blue Cross Blue Shield, cannot decline someone's waiting period for pre-existing medical conditions.
How To Find Affordable Virginia Health Insurance For You and Your Family By: Brandon Brooks
In a time when health insurance rates continue to rise, the consensus reaches the conclusion there is nothing that can be done and that personal healthcare costs will continue to skyrocket. However, in an effort to "go against the grain," I want to offer some advice and some strategies to take that can help lower the burden of insurance expenses.
When you have decided that it's time to drop your old plan and are in the market for new coverage, you must be sure to shop around. Depending on where you live, different insurance companies may have different rates. Because insurers use your zip code as a factor in determining the monthly premium, Plan X from ABC Company can vary in rates from city to city across the state. Therefore, you need to shop and compare plans from all the major insurance carriers in your state to ensure you are getting the best price and benefits. This can be done easily with the assistance of a trustful broker or through a website of a broker. Having a broker with your interests in mind is critical and can help simplify the plan-finding process.
Another thing you want to be aware of when searching the health insurance market is the relative age of the proposed plans. Generally, the older a specific plan is, the higher the monthly premium is. This is seen regularly when a certain health plan is retired and is no longer offered by the insurer. Because the plan is no longer offered, only those who previously held the policy can remain in that core group, which means the age and respective risks of the insureds will rise. In return, the rates on these policies will rise ever faster, and those stuck in the plan will be forced to pay the price. If you hold a health policy that has been or will soon be retired, it is in your best interest to switch to a new plan if your medical history permits. To give an example, Anthem Blue Cross Blue Shield of Virginia recently issued two new plans, Premier and SmartSense, that replaced the older policies Flexible Choice and Keycare Preferred. While the two older plans are still offered, the rates are considerably higher than Premier and SmartSense.
Have you ever considered a high deductible health plan (HDHP)? Although the annual deductible is higher (as the name implies), these health plans offer most if not all the same benefits of a fully-loaded plan. HDHPs will still cover catastrophic accidents or serious illnesses, which can potentially lead to huge medical expenses. In fact, some HDHPs will have the same maximum out-of-pocket limit as other insurance policies, so you won't pay any more out of your pocket with a HDHP when the medical bill runs high. Best of all, high deductible health plans are usually more affordable with lower monthly premiums than cadillac plans. For more detailed information about HDHPs, check out a previous article I've written entitled "Using High Deductible Health Insurance Plans to Lower Cost of Health Insurance."
Lastly, but perhaps the most important factor in finding affordable health insurance, is to live a healthy lifestyle. This may appear obvious, but you never want to put your personal health on the back burner. Not only will it deteriorate your health, but it will become harder to find low cost health coverage with an extensive medical and prescription drug history.
By following these steps, finding health insurance you can afford should become much easier. Remember to always shop around and compare plans to ensure you have the best plan available that fits your needs and budget. Having a strong relationship with a broker will help the process and can give you insight about alternatives you may have never thought.
As a resident of Virginia, how can you find an affordable Virginia health insurance plan that meets your needs? There exists a wide array of options depending on the specifics of one's needs. Most are likely to go on a group plan through their job or their spouse's employer-sponsored plan if the options are available. If group insurance is not a choice, then individuals and families are left to fend for themselves in finding a plan that suits their needs.
When looking for affordable individual or family health insurance in Virginia, you should first be aware of the primary insurers that serve the state and other independent agencies that sell the policies you need. A good place to start are local business search engines for Virginia. These local search engines work in similar fashion as a widely-known search engine, but only display businesses that fit your search terms in the state of Virginia. This can help you narrow down your list of potential insurers and get you connected to a local agent.
The next step you should take when shopping for health insurance in Virginia is to ask friends and family members for their input about insurance companies, agents, and websites they have dealt with. Others' past experiences can be very beneficial for your future use if they can help point you in the right direction. Word-of-mouth from someone you trust is a great way to find a respectable agent located near you. You must be confident the agent you are dealing with has your needs placed first, while leaving his or her selfish desires behind.
The Virginia Bureau of Insurance can be a viable resource for individuals and families looking for health coverage within the state. The Virginia Bureau examines health insurance companies, their plans, and their business conduct to ensure they meet the standards the state has provided. The Bureau also protects Virginia citizens from agents acting improperly by having the authority to take corrective action if needed. In addition to the regulatory services, the Virginia Bureau of Insurance can also help answer questions you may have, offer their personal advice to help you find affordable Virginia health insurance, and contact offices and agencies you should talk with to help satisfy your needs.
Be sure to remember these resources when you are checking around for health insurance plans in Virginia. By knowing the competitive insurers and their plans, the advice from friends and family, and using the Virginia Bureau of Insurance as a resource, the process can hopefully be made a little easier for you and your family.
Brandon Brooks is a licensed health and life insurance agent in the state of Virginia. For more information on finding affordable health insurance plans in Virginia and answers to many questions you may have, visit hiswebsite.
USA Online Health Insuranceis an independent health insurance agency, specializing in individual and family, dental, senior/Medicare, small business, and long term care insurance.
Health insurance premiums have increased dramatically over the past 10 years. Medical advances in the form of technology and new medications have brought new hope to patients, but along with that hope comes a steep price tag.
Consumers have felt this pinch and are seeking ways to reduce costs. Most people are not insurance experts and sometimes do not know the proper steps to take to find and maintain affordable health insurance in Virginia. Residents of Virginia can consider these options when shopping for health insurance:
Find an independent agent that is licensed through the Virginia Department of Insurance that also resides in Virginia.
This type of agent is more likely to be familiar with coverages that are competitive within various parts of the state. A resident agent is also a consumer and knows the uniqueness of various plans and state- mandated benefits. Out-of-state agents and agencies are not likely to be experts on the finer points of plans available to Virginia residents.
Find an insurance company that is based in the state of Virginia or at least has major operations or a home office within the state.
An insurance company in Virginia, including Anthem Virginia, will specialize in developing products and physician networks that work well there. These companies are also good neighbors when it comes to offering civic and charitable activities. They can offer programs to residents that promote healthy lifestyles and well-being, which makes a positive impact on the community.
You should shop around often.
Insurance companies in Virginia raise rates based on claims experience for certain plans. Once you've had a plan for a number of years, you may be stuck in a plan that is made up of an aging population of insureds. As health problems increase, so do the rates on older plans. When companies such as Anthem Virginia develop new products, they can many times drastically reduce rates since the new plans have not yet experienced major claims. Insurance companies in Virginia must have all new insurance products and proposed rate increases on old plans approved by the Virginia Department of Insurance. This serves as a watchdog for consumers. Finding the most competitive plan should reduce costs tremendously.
Examine closely the type of coverage that you need.
While everyone may like the sound of the Cadillac plan, it comes with the Cadillac price. Plans that have co-pays for physician office visits and prescription drugs will be the most expensive. This could be a waste of money for someone that hardly ever goes to the doctor or uses any prescription medication. A catastrophic plan could save more than on monthly premiums rather than paying for features not being utilized. Simply raising the deductible on most plans will lower costs significantly without exposing yourself to enormous financial risk.
Choosing a personal health insurance plan in Virginia can be difficult with all of the different insurance companies and policies that are available. Sorting through the various optional benefits available can make it even more challenging. These optional benefits are sometimes referred to as "riders" and can be added to your basic health insurance policy for an additional premium. Let's look at some of the common options available and some of the advantages and disadvantages:
1. Dental insurance - Most dental insurance riders usually include preventative care for check-ups and cleanings, basic restorative services such as fillings and simple extractions and major services such as crowns and root canals.
Advantages - Preventative care is usually covered immediately and covers most of the cost without a deductible if a network dentist is used.
Disadvantages - Restorative and major services generally have waiting periods of 6-18 months before benefits begin. Most health insurance plans do not cover orthodontics.
2. Maternity insurance - Covers routine pregnancy as any other medical expense.
Advantages - Most personal policies provide no coverage for maternity related expenses unless this rider is added. Virginia law does require insurance companies such as Anthem Blue Cross Blue Shield to cover complications of pregnancy even without the rider.
Disadvantages - Most plans have a 9-month waiting period before a pregnancy can begin and the rider can be expensive.
3. Life insurance - Provides each family member with term life insurance coverage should one of the insureds die.
Advantages - Generally does not require a medical exam and small amounts of coverage can be purchased at reasonable rates.
Disadvantages - You generally must maintain the health insurance plan in order to keep the life insurance coverage. Larger amounts of coverage can generally be purchased on a stand-alone policy and can be less expensive if you submit to a medical exam.
4. Supplemental Accident Protection - Provides first dollar coverage without a deductible for accidents and injuries.
Advantages - Covering the small mishaps on a first dollar basis is important for families with children or those involved in sports. Especially helpful if you have a high deductible on your health insurance.
Disadvantages - Could be costly and may not be necessary if you are not accident prone.
5. Preventative care and immunizations - Provides coverage for well baby, well child and adult routine preventative care such as routine physicals, immunizations, vision and hearing screenings.
Advantages - Preventative care can be expensive and this particular rider would encourage routine check-ups which could result in early detection of a serious health issue.
Disadvantages - Many major insurers are beginning to cover preventative care at no additional cost, therefore, the rider may not be necessary.
6. Multi-year rate guarantee - Locks in your rates for one or more years with a guarantee that it will not increase during the guarantee period.
Advantages - Virginia health insurance rates have been increasing dramatically in some instances and this rider would help you budget for a certain premium amount during the guarantee period.
Disadvantages - You pay more for the rate guarantee and it may be for a period of time longer than you may need or want the coverage. Rate increases at the end of the guarantee period may be dramatic.
Have you ever needed the help of a professional for a service in which you have little or no experience? Tasks such as a home or auto repair seem complicated to those who are not experienced in those professions. Shopping for personal Virginia health insurance plans can be complicated as well. Consider these reasons for using a professional broker or agent.
Professional service with no fees - Insurance agents and brokers are paid by commissions from insurance companies.
The cost of those commissions is already built into the price of the policy. Therefore, you will pay no more than if you had gone directly to the insurance company, such as Anthem Virginia, without the services of an agent. An experienced agent can help you determine which type of coverage will work best for you or your family. The agent can also assist with helping to select a deductible amount, co-pay amounts and whether or not to purchase optional benefits such as maternity or dental insurance. Once a decision regarding the coverage is made, the agent can be a valuable resource in helping complete the application and with the underwriting process. Using the services of a professional comes at no additional cost to the customer.
Service after the sale - Virginia health insurance brokers are motivated to provide good service after the sale. Questions may come up regarding your coverage or changes may need to be made to your plan. Having a broker handle those little details for you is a valuable resource. Examples of some simple service issues include answering questions about your policy, adding a dependent to the plan, making changes such as address and telephone number or ordering you a new identification card.
What type of broker should you look for? Here are some important features to consider when searching for a broker:
Experience - The value of experience cannot be purchased. Brokers that have many years of experience will be able to guide you in the proper direction and help you avoid problems. Experienced agents have seen nearly every situation that may come up and can guide the customer so that potential problems will be avoided.
Independent - Look for a broker that represents many competitive health insurance companies from which to shop for your coverage. Captive brokers can only use a single insurance company and should be avoided. An independent agent is working for the customer rather than an insurance company such as Anthem.
Professional - While looks can sometimes be deceiving, it is important to locate a broker that runs a professional business. This usually means having an office location in which to do business along with sufficient staff to service their customers.
Reputation-There is nothing wrong with asking for references when looking for a Virginia health insurance agent. You need to know the reputation that the agent has within the community and the level of satisfaction that customers have with the agent in question.
Local - There is nothing more frustrating than to need service from a large company and having nothing more than a customer service phone number to work with. All of us have experienced the phone maze of recordings and out-sourcing of services departments. Having the services of a local broker that can personally be of help is very valuable. There are times when it's important to sit across the desk and look the person in the eye with whom you are conducting business.
Use caution when purchasing your Individual Health Insurance plan in Virginia. In fact, make sure that the plan you are purchasing is actually Health Insurance and not one of the many discount plans which are floating around.
Radio, Television, Newspapers, etc. are plastered with ads appearing to offer you the world regarding individual health insurance at very little cost. As we all should know, you generally get what you pay for. Unfortunately, many unsuspecting persons fall captive to these discount program offers which are nothing more than discount plans. So, if you do purchase a discount plan, there will be many cases where there isn't any form of discount at all. Many healthcare providers and pharmacies won't honor the discount plan at all! Stay as far away from these plans as you can.
Another area which is deserving of your cautious approach, is dealing with High Pressure Insurance agents. Simply put, an agent who uses high pressure tactics does not have your best interests in mind. If the agent really wanted to ensure that you receive the best possible Health Insurance Plan in Virginia, he or she would not be pressuring you. Instead, the agent would be doing everything possible to find you a quality plan at the lowest possible cost. A plan which is structured to meet your individual needs as well as the needs of your family.
In summary, work with a reputable agency and an agent you are comfortable with. An honest and reliable agent will go to great lengths to ensure that you are purchasing a quality plan and a plan which will meet your budget. Visit FindMeAPlan.com for assistance.
Time and time again we hear of individuals and families who have no health insurance coverage. Many reasons can be the cause of not having coverage. The most prevalent may simply be that you feel you do not have enough available funding to pay for the coverage.
If you and/or your family are without health insurance, you are risking not only your health and the health of your family but quite possibly your financial future. No one will argue that individual and family health insurance plans in Virginia are high but, going without any health plan can be extremely risky. Unfortunately, many people actually end up filing bankruptcy after experiencing a major medical situation. Many times tens of thousands of dollars in debt are incurred causing an individual or family to have no alternative but to file bankruptcy.
The point here is that even though you feel you may not be able to afford health coverage, there may be a plan available offering a higher deductible, which could be more affordable than you realize. Many people will opt to go with a higher deductible plan which keeps the premium costs down, while still offering significant coverage in the event of a major health problem. So, rather than risking your health, because due to lack of individual or family health insurance in Virginia, you simply don't go to your Doctor, even for the most basic checkups, check with a reputable health insurance agent about the possibility of purchasing a plan. Doing so could help you find affordable health insurance in Virginia. Check with FindMeAPlan.com about coverage which may meet your needs. Often, even when the picture appears very bleak, there is light at the end of the tunnel. Yes, even when it comes to health insurance plans.
You may be wondering why your health insurance cost has gone up so dramatically in recent years. The cost of everything seems to increase from year to year, but why has the cost of health insurance outpaced other goods and services. Let's look at some of the reasons for the increases:
o Technology - The medical equipment that technology has provided us allows physicians to do amazing things such as surgical procedures and imaging. We are now able to save premature babies and extend the lives of the elderly with increasingly better results as technology continues to improve, but it is expensive.
o The uninsured - As the pool of uninsured people grows, the cost rises for the insured. This happens because hospital emergency rooms are required to treat those use their services, however, the cost is simply passed on to those who are responsible and carry health insurance. The number of uninsured continues to increase due to job losses and the number of non-U.S. citizens living illegally here.
o Malpractice - Physicians have been forced to practice defensive medicine in fear of frivolous lawsuits. The cost of malpractice insurance has forced physicians and hospitals to raise fees and pass the cost on to those that carry insurance.
o Coverage mandates - The government has passed thousands of mandates in recent years requiring insurance companies to cover services that most people do not need or want. Individual choice in selecting the type of coverage you want has become more difficult as these mandates have increased cost for everyone.
You might be thinking "I understand these reasons for higher cost, but what can I do to lower my own cost?" There are many things that you as an individual can do to lower your cost now:
o Check with your insurance company, such as Anthem, to make sure you have their latest version of your plan. Insurance companies release new plans frequently especially if premiums on the old plans have gotten too high.
o Review your plan regularly to make sure you still have the benefits best suited for you and your family. For example, if you no longer have small children, you may no longer need expensive plans that provide unlimited physician visits whereby you pay a co-pay for each visit.
o Increasing your deductible can save as much as 50% while maintaining features such as doctor office visits, prescription drugs and preventative care that may be covered before the deductible.
o Comparison shopping with independent insurance agencies can insure that you've searched the entire market for competitive plans in your area.
o Utilize physicians and facilities that participate with the insurance company PPO (Preferred Provider Organization) for discounted pricing in services.
o Take charge of your own health care. Unnecessary testing and procedures have caused prices of insurance to sky rocket. You are ultimately in charge of your own health care.
o Practicing preventative medicine and living a healthy lifestyle can have long term effects on your health and ultimately the cost.
o Get involved in the health care debate. Lawmakers need to hear from constituents regarding the intrusion into our health care and health insurance options as well as the subjects of coverage mandates, illegals and tort reform.
For innovative and unique ideas to lower your health insurance premiums and to get a competitive quote online, visit FindMeAPlan.com.
As employers continue to shift more and more of the cost burden of group health insurance to their employees, personal Virginia health insurance plans have become more attractive in recent years. Group health insurance being paid in full by the employer for your family is a thing of the past at most companies.
Personal health insurance plans for an individual or family are attractive for many reasons:
Lower cost: Personal health insurance plans for healthy persons can be less expensive than group insurance contrary to what most people think. Years ago, a large group could naturally get better pricing for insurance than one person or family; however, it has done a complete reversal in recent years. Personal plans are individually underwritten, thereby benefiting those in excellent health. Group insurance, on the other hand, has by law become "guarantee issue" in a lot of states, taking away most underwriting and causing the price to skyrocket for nearly everyone. The cost of a personal health insurance plan in Virginia is a reflection of your individual health condition and the benefits you choose. The cost of a group health insurance plan reflects the overall health conditions of that group and the benefit options selected by someone else.
Tailor made: Personal health insurance plans in Virginia for an individual or family can be purchased specifically designed to meet your needs. Don't want maternity or many of the other government-mandated benefits that group health insurance is laden with? A personal plan may be your answer. You can choose your deductible, co-pay amount if you want one at all, prescription drug benefit, coinsurance percentage and out-of-pocket maximum. These benefits are all pre-selected for you with the employer group "cookie-cutter" plans. Group health insurance plans are designed and purchased to meet the needs of a large group of people. Each person in that group may like a different feature of the group insurance. A personal plan can be tailored to your specific needs and not those of anyone else.
Portability: With today's economy and job losses, portability of health insurance has become an important issue. While COBRA (Consolidate Omnibus Budget Reconciliation Act) provides some protection for employees that are laid off, there are still problems. The length and depth of this recession could cause some to find themselves looking of a new career for years. The COBRA option and current government relief effort will not fulfill this need. A personal health insurance plan can move with you from job to job, wherever your career path may lead. Decisions about job changes would no longer be affected by health insurance or pre-existing medical conditions if you had the luxury of taking your plan with you. Personal Virginia health insurance plans provide that luxury. Having a properly structured personal health insurance plan from a reliable insurer allows you, the consumer, to be in control of your health care and employment decisions. Not only do personal plans move with you from job to job, most plans will even follow you should you need to move to another state.
Summary: The current trend of this cost shift from employers to employees has necessitated your doing a little work to find the best option for your situation. Ask yourself the following questions: *Does my employer subsidize part of the "employee only" cost, making it advantageous for me to shop for a personal plan only for my dependents? *Is there more than one group health insurance plan available to me and my spouse whereby each of us could take advantage of an employer contribution? *Are there any pre-existing medical conditions for anyone in our family that would prohibit that family member from getting a personal Virginia health insurance plan? *Does our family need immediate benefits, such as maternity, that may be more attractive under a group insurance plan?
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