Private Medical Insurance - A Quick Guide

Faster medical diagnosis and treatment along with greater choice over where and when you receive that treatment can make private health insurance seem like an attractive prospect. However, there are a number of things that you may like to consider before deciding whether private medical insurance is the right option for you, and the level of cover you may require.

What is private medical insurance?

Private medical insurance provides you with an insurance policy that will pay out if you fall victim to certain accidents or disease, giving you access to private medical healthcare. Some illnesses, including pre-existing and chronic health conditions are likely to be excluded from your policy, along with some types of service such accident and emergency and GP care which will continue under the remit of the NHS.

When you take out private health insurance you'll pay a premium, either as a lump sum or in installments in return for cover. The amount that you need to pay will depend on your medical history as well as your age and the amount of cover you are looking for.

What should I consider before taking out a policy?

1) Make sure that you know exactly what is or isn't covered by a plan before you sign up, this will ensure you avoid any unexpected surprises when you fall ill. Most private health insurance plans will have large areas of exclusion, so make sure you know and are happy with exactly what your provider is offering.

2) Always shop around before making a commitment. There are many different types of medical insurance products available on the market, so shopping around can help you get the best deal for your money, as well as allowing you to compare different benefits.

3) Make sure you are able to fulfill all your other financial commitments first. Although private medical insurance may be a welcome luxury and can provide you with that extra comfort when you need it most, it is worth remembering that is not a necessity in the UK.

4) Consider how much cover you are looking for, and whether there are any particular type of illness that you would like cover for.

What next?

You may want to speak to an impartial advisor who can provide private medical insurance quotes to help guide you through the different products that may be available to you and help you find a policy to suit your needs.

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How To Make The Covered Entities HIPAA Compliant

The Health Insurance Portability and Accountability Act (HIPAA) has been one of the most important pieces of federal legislation in the health care industry. HIPAA has changed the way information of patients is handled, processed and stored and also helps an employee keep their medical coverage even when they switch jobs.

These provisions of Health Insurance Portability and Accountability Act have far reaching implications both for individuals who have medical coverage and health care providers. HIPAA also dictates standards for privacy and security of protected information of patients.

Health care providers and other organizations that are classified as "covered entities" would be required to comply with all the provisions of the Health Insurance Portability and Accountability Act.

8 Steps To Make Covered Entities HIPAA Compliant

1. It is very important that the confidential information of patients is safeguarded and protected and only authorized people are able to access and view it. If you want to ensure this you would need to move your computers and other storage devices that have this protected information to a secure area where their access will be restricted.

2. Even in a secure area the computer screens would need to be placed in such a way that no one is able to see the information that is displayed on the screen and misuse it.

3. All the programs and files that contain the confidential information would need to be password protected and it would be advisable to change the passwords at regular intervals.

4. A log should be maintained that will list all the files that contain information about patients. The log should also contain information as to how had accessed the information. Date and purpose of accessing the information should also be mentioned.

5. Only users who will have access should be provided with user names and passwords so that they can gain access to it. The employees should remember to close the programs and other relevant information when they are not at their desk. This will help prevent any sort of misuse.

6. Additional security can be provided to the computers and programs if you fear any unauthorized access. All the files and records need to be checked so that any violation is detected immediately.

7. All employees who will be handling the protected information should be provided with suitable training programs so that they are aware of the various rules and procedures that govern Health Insurance Portability and Accountability Act.

8. There are various additional changes that place in the rules and regulations and it is the responsibility of the health care provider to keep their employees updated on the recent changes that have taken place in HIPAA.

Health care providers and other organizations specified by the Health Insurance Portability and Accountability Act as covered entities would be able to keep their organizations HIPAA compliant by following all the rules and regulations. They would also be able to avoid stringent penalties for violations. There is also the danger of losing their business license if they are found to be violating the rules repeatedly.

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What Are The Various Components Of HIPAA

The Health Insurance Portability and Accountability Act (HIPAA) that was passed in 1996 was initially created to ensure that employees who shift jobs do not have to lose their insurance and that they can continue to have medical insurance for themselves and their family. The other important provision of the act is pertaining to protection of confidential information of patients.

There are various people who would be able to access patient information and this can be misused for marketing purposes or other fraudulent purposes. The Health Insurance Portability and Accountability Act has five different components that make it easier to implement the law.

5 Components of HIPAA

1. The first component of Health Insurance Portability and Accountability Act is Title I. It helps deal with health care access, portability of medical cover of employees and protection of insurance cover for individuals who have pre-existing illness.

2. The second component known as Title II deals with fraud, abuse and helps in simplifying the administration of Health Insurance Portability and Accountability Act. All health care providers make use of this component the most as it contains the important provisions of privacy and security rules of HIPAA.

3. Title III which deals with the third component of HIPAA deals with how employers handle medical savings accounts and other insurance related issues.

4. The fourth component known as Title IV deals with the group health plan requirements that enable individuals to carry their previous medical cover to their current job.

5. The fifth component known as Title V deals with revenue offsets. Tax deductions are also included in this component.

The health care organizations must have various administrative safeguards in place so that the protected information is not used for any other purpose. It will also ensure that individuals who are authorized to access the personal information of patients will be able to do so after they have fulfilled some conditions. These conditions could be pertaining to using passwords or any specific software to access the protected information.

As all information is stored electronically it is important that there are enough safeguards in place to help prevent theft and abuse of information. All computers and other electronic equipment used for storage of patient information should be in a secure place that is not accessible for everyone. The workstations where all this information is available can also be locked to help prevent unauthorized entry. Any other safety measures that will ensure that the information is protected can also be taken.

Apart from this all health care providers would need to have various internal policies and processes in place so that all requirements of Health Insurance Portability and Accountability Act are fulfilled and chances of penalty for violation are greatly reduced. There can be internal audits for this purpose and the compliance officers who are appointed can ensure that all recent changes in HIPAA are also brought to the notice of employees. The Health Insurance Portability and Accountability Act has been a great piece of legislature that has managed to change the way health care services are provided to individuals.

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Health Insurance for Senior Citizens - Why Do You Need It?

When you are more than fifty years of age, it is natural that your requirements for medical assistance increases. Periodical visits to Medical centers become important now for safeguarding you from health problems and also for making it possible for you to recoup should you fall ill. Until now, you had been keeping mostly healthy and your own medical requirements have either been paid by your company or organization or effortlessly been managed with your earnings and savings.

Now that you are contemplating to retire and enjoy life, this is the time to consider choosing a health insurance policy for senior citizens to take care of your (and your spouse's) health-related expenditures. Here are some more points to consider:

Hospital Expenses tend to be skyrocketing these days particularly since most of us have the tendency to choose treatment in branded Private Hospitals. This can create a dent on your retirement savings in the event you do not have medical insurance for senior citizens. For anyone who is preparing to retire and survive on pension or interest earnings from savings, a medical emergency can lead to a monetary crisis. To steer clear of this, it is advisable to consider a comprehensive policy of health insurance. The medical coverage, which you had in the course of your career, generally ceases when you retire. Suitable Medical insurance can replace this insurance cover. It may not be a good idea to count on your children to avail their employee/group insurance for you as this insurance cover would also cease when they happen to change occupation. Pre existing ailments are excluded from health related insurance for senior citizens for a period of two to four years in most instances. If you join early, you can avail the policy even for treatment of existing illness (after the stipulated period), before the illness develop into a serious one. If you are confused as a result of the countless choices available in the field of insurance available to senior citizens, do not hesitate to seek guidance of an independent insurance adviser. In normal instances, for availing insurance, medical checkups are essential for anyone above 45. In case you are reluctant to undergo such tests, you will even be able to find policies, which are provided without these tests. Nevertheless, it is best to declare your pre-existing illnesses truthfully, to steer clear of rejection of your future claims. Please be aware that recently Government of India has issued some stipulations (July 1, 2009) which makes it mandatory for all health insurance companies to refund 50% of the expenses made by you on medical tests related to the policy, in case they accept your policy. Government of India has also issued guidelines that every health insurance company has to offer insurance coverage for individuals up to 65 years of age. There is also a provision for shifting insurers if you are not satisfied with the current provider.

Please keep it in mind that there is a great deal of differences in terms and conditions in the policies of health insurance for senior citizens provided by various companies. You will even find companies which even offer "No age restriction for enrollment" and "assured renewal for life". Take your time to choose a suitable health insurance policy which meets your personal needs.

Wish you a happy, healthy and enjoyable time after 50.

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Blue Cross Blue Shield Of Tennessee Faces Criticism For Diversity Statement

The Family Action Council of Tennessee took aim at the state's largest health insurance carrier recently. According to that conservative group, Blue Cross Blue Shield of Tennessee is "showing a cultural acceptance of homosexual conduct." In an interview, former state Senator David Fowler, who now heads the Family Action Council, said that he wanted people to be aware that BCBS of Tennessee had taken a stand on homosexuality. He was referring to Tennessee BCBS having sent a letter to its policyholders stating that it is fervently embraced the "spirit of diversity" that includes gay, lesbian, bi-sexual, and transgender owned business establishments.

Fowler added that the Tennessee BCBS letter is directly associated with House Bill 600. Although controversial, that bill that was signed into a law during the last legislative session. It provided stricter policies prohibiting discrimination against people who are lesbian, gay, bi-sexual or transgender (LGBT) because state law had not previously prohibited discrimination based on gender and sexual orientation. Since BCBS of Tennessee is falling in line with state law, does it really have anything to fear?

As the spokesman of the Tennessee Equality Project, Chris Sanders thinks the diversity statement that Blue Cross Blue Shield of Tennessee sent out to its consumers was a good thing. BCBS of Tennessee's own spokeswoman told the Chattanooga Times Free Press that this diversity outreach is not new for nonprofit Tennessee health insurance companies that have wide-ranging federal and state government contracts.

Blue Cross Blue Shield Of Tennessee Is Among The State's Largest Insurers

With more than 2 million policyholders, Blue Cross Blue Shield of Tennessee has been assigned a Standard and Poor's rating of "A+" for "strong" with respect to the company's financial stability. As you may know, Standard and Poor's is an independent organization that investigates and rates insurance companies based on whether they have the capital to cover policyholders' medical claims.

The insurer offers both HMO and PPO plans that include many of the area's most respected doctors and hospitals. Access to a PPO network of health care providers can mean substantial discounts in out-of-pocket costs until the plan's deductible has been met and the insurer begins to pay for medical claims. In-network providers charge policyholders the lower rates per their contract with BCBS of Tennessee.

Even the cost of going to doctors and hospitals that are outside of the plan's network is partially covered under BCBS of Tennessee. But, out-of-pocket expenses for going to non-network providers are applied to a separate and higher out-of-pocket policy maximum. That's a fancy way of saying the limit on what you could end up spending for health care in one year under a BCBS of Tennessee policy.

BCBS of Tennessee Provider Networks Are In Metropolitan Areas

Because the provider network was basically built around major metropolitan areas, policyholders in rural areas may have to travel to find in-network health care services. Travel can difficult when ill or injured, so it's wise to check the plan's provider network before applying for a policy.

If the location of providers works for you, PPO plans are popular because they don't require you to select a "primary care physician" who is totally responsible for referrals to specialists. Without that referral, there is no coverage for seeing a specialist or getting a second opinion. That's how HMO plans work, but HMOs do have certain advantages.

For example, HMO plans also have low prices for medical services and the plans have low deductibles. They also typically offer access to dental care providers and simplify the claim's process. Rather than complete forms, members may use cards, similar to credit and debit cards, to handle medical services at a doctor's office or the hospital.

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Healthcare Plans for 2012: Some Benefits and Drawbacks

'Tis the season...for open enrollment in healthcare, from company benefits to Medicare. Unfortunately, most of us won't be getting many sweets in our stockings this year. What we can expect to get is higher deductibles, higher out-of-pocket costs that will surely continue rising, fewer options in doctors or networks, more aggravation and longer waits.

The impetus behind increased costs to employees is simple: increased costs across the board for everyone. Employers can not absorb the increased costs in health care. They are being pushed into a corner with expenses. The only viable solution is to pass on the costs and encourage their employees to manage their own health care in better ways.

Some firms may offer financial incentives to stop smoking, start exercising, lose weight, what ever it takes to drop the increased risks of unhealthy living. If you are lucky enough to work for one of these companies, by all means, take advantage of everything you can to improve your wellbeing. After all, your boss will not be caring for you if you become unable to work from illness, you will have to manage yourself. You will be paying the costs for the consequences of living a sloppy lifestyle. To avoid calamity and unmanageable bills, take action now to prevent more problems. This is the message your employer will be sending.

Some people were caught flat-footed when employers changed to high deductibles mid-year. It is very difficult for a family to swallow a deduction of several thousand dollars. This reminds me of when my children were young and we had to HMO in our town. Every medical visit, prescription, and procedure an required upfront payment and then we had to wait for the reimbursement of 80% or less. Strict budgeting is necessary for families with young children who might see a doctor more frequently than someone who is older. This is a system requiring tough choices for families. And for employers.

People have to pay more attention to choosing their health care plans and reading the information on how the plan works. You might want vision insurance, but if your premiums are lower without it, leave it on the table. Unless you have serious eye problems, you can get an eye exam and glasses at discount retail places such as Eye Masters for less money than the premiums on vision insurance in most cases. This is not true for all people, but it behooves you to check it out. Do not waste precious premiums dollars on something you can buy for less elsewhere. The same is true of prescriptions: ask for generics, join a prescription plan at your pharmacy, or use a discount pharmacy. Be a smart consumer with health care!

The news will continue to get worse. You can expect prices to rise next year. You will have to find out how you can use Flexible Spending Accounts or Health Savings Accounts to complement a higher deductible. Expect fewer options in the future. If you are wondering why the squeeze, consider the following. If employers are pummeled by health care costs, they might decide to eliminate health care benefits for all employees. This could be especially true of small businesses that lack sufficient income to offset rising costs. The new health care rules require everyone to obtain health care insurance. If employees can not obtain health benefits at work, they will have to look elsewhere. Cynics might say this is a great way to force people into a healthcare system under government control. If it looks like a duck and quacks like a duck...

Have a terrific day! Patricia Woods

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Section 125 Premium Only Plans-Businesses Can Look Forward to State Legislative Promotion

A surprisingly low number of businesses know about, much less utilize, IRS section 125 premium only plans (POP plans) and the immense tax savings they grant. With localized poles indicating that up to 90% plus business owners have never heard of POP plans and national poles approximating less than 15% of employers subscribing to them, a fairly substantial number of businesses are missing out on the savings POP plans offer. They are curious and daunting statistics; with four states requiring varying forms of compliance, and a dozen other states offering promotional and legislatively mandated benefits to employers subscribing to POP plans, employers failing to subscribe risk breaching State requirements as well as missing out on tax-savings ranging in the hundreds of dollars.

Most states began seriously considering the implementation of formally mandated section 125 premium only plans around 2005 in preparation for the requirements and goals of the Affordable Health Care Act. Though legislative requirements were controversial, between 2007 and 2008 four States enacted policies requiring businesses meeting certain criteria to comply to a POP plan and several others began offering benefits and incentives for compliance.

A pattern has emerged among State legislation, and will in all likelihood continue to manifest itself in the form of POP plan friendly policies. The Cover Florida Health Care Plan requires businesses participating in the reform program to comply with IRS section 125 cafeteria plans (A category encompassing premium only plans). Indiana offers a tax credit to employers of up to $2,500 who choose to subscribe to POP plans. The State of Massachusetts has gone so far as to require any business with more than 11 employees to subscribe to premium only plans under penalty of State fines. Between the fierce health care reforms taking place at the federal level and the marked success of premium only plans and their ability to render employer sponsored health insurance accessible and affordable it is estimated that within the next ten years every state will legislatively require most businesses to remain in compliance with premium only plans. For information on current state promotions and requirements, feel free to visit http://www.ncsl.org/?tabid=14515#.TkHNqNC-HnA.

Happily, employers have nothing to lose and everything to gain. Employees contributing to health care premiums in compliance with POP plans contribute to their group health insurance plans before taxes are deducted. Employee take home pay is dramatically increased at no extra cost to sponsoring employers. As a result, employees can afford a wider range of benefits, and retention increases. Premium only plans, aside from the legislative benefits many States offer, also reward subscribing businesses a 7.65% reduction in annual social security and Medicare taxes because of the tax free nature of employee contributions.

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Does Your Organization Need HIPAA Training And Certification?

The number of people who are losing their jobs has been on the increase and Health Insurance Portability and Accountability Act (HIPAA) helps employees and their families have medical insurance cover even when they lose their jobs. HIPAA also helps protect patient information through privacy and security rules. This will help prevent fraud and insurance abuse and bring down the cost of administration.

All information pertaining to the health of a patient is nowadays stored electronically and Health Insurance Portability and Accountability Act ensures that this confidential information is not viewed by all. Only patients and other authorized employees of health care providers would be able to access this information and this will help prevent its misuse.

What Are The Covered Entities That Require HIPAA Training And Certification

* Health care providers - HIPAA training and certification is necessary for all health care providers as they would have access to confidential information of patients. Clinics, hospitals, laboratories, nursing homes and pharmacies are all classified as health care providers. Employees who work in these health care providers and who will be accessing the patient information would need to be adequately trained in processing and storing this information. Doctors, nurses, receptionists and managers (hospitals and clinics) are just some of the individuals who would be needing this training and certification.

* Health insurance companies - People who are working in the health insurance companies should also be aware of the various provisions of Health Insurance Portability and Accountability Act. The training will help them learn who will be eligible for medical cover and the type of coverage that they are entitled to. This will also help prevent any insurance abuse or fraud. The employees should also be trained in proper documentation, processing and storage of information.

* Clearing houses - There are some organizations that are involved in medical billing and claims. Employees of such organizations would also need to be trained and certified so that they are aware of the importance of processing this important information in a proper way. Employees who work in the organizations specified above would not be able to comply with the various provisions of the act if they are not adequately trained and certified. Training will serve the dual purpose of ensuring compliance of Health Insurance Portability and Accountability Act and avoiding penalties for non compliance of the act.

There are various ways in which the employers of the organizations specified as "covered entities" can provide training to their employees. Training can be provided either in the classroom or using the Internet. There are many colleges and hospitals that have online training programs that can be easily completed. The cost of the training programs would vary depending on the course details that are taught and other services that are requested.

The employer can choose the training program that best suits the specific needs of his employees. The choice of course can also be done based on the responsibility that is entrusted on the employee who would be handling the protected information of the patient. Training of employees will ensure easy compliance of Health Insurance Portability and Accountability Act.

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Offering Business Health Insurance - Is It Worth It?

Business health insurance may seem like an unnecessary expense for your company especially in financially difficult times, but can in fact bring a number of benefits to both you and your employees.

Many businesses already provide life insurance cover, giving employees peace of mind that should they pass away unexpectedly beneficiaries will receive either a lump sum pay out or an income. Health cover can provide that bit of extra protection to provide in the event of unexpected illness.

How can providing business medical insurance benefit an employer?

1) Health insurance cover can provide more prompt care for employees than they would more normally receive, ensuring that absence from the workplace is kept to a minimum.

2) Providing cover will often attract a better standard of applicants, which may mean that your company has the pick of the job market when recruiting.

3) Business medical insurance can encourage greater company loyalty, in turn leading to greater staff retention.

4) Lastly, offering health insurance can boost staff morale, and more satisfied employees will often lead to higher working standards.

All of these benefits can prove economical in the long run. You may also choose to offer options such as life insurance cover or income protection.

How does it work?

A business health insurance plan operates in a similar way to conventional private policies, except that it is often taken out on a group policy basis. A group policy will usually work out as cheaper than individual cover, but the cover will not be tailored in the same way as individual plans are.

Insurance providers will usually offer a flexible range of options according to the amount of cover you wish to provide for your employees, from basic or mid range to fully comprehensive. The cost of your group policy will depend on the amount employees included as well as other factors such as company demographic.

Business medical insurance can be suitable for both large and small companies alike, with providers often offering tailored policies according to your needs. Shopping around will help you get the best available deal.

Whether offering business medical insurance is right for your company will depend on individual circumstances, but it is worth considering the benefits it can bring as well as focusing on the cost that your company will incur in the process of providing such insurance. Speaking to an independent medical insurance advisor can help you to choose the most suitable plan for your company.

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How Do HSAs (Health Savings Accounts) Work?

What HSAs are and how they work

It seems to me that a lot of people are confused about HSAs and what they really are.

Health Savings Accounts are comprehensive health plans designed for those looking to take control of their health care spending. These are high deductible plans that let you pay your out of pocket expenses and other qualified fees with tax free dollars.

An HSA may receive contributions from an eligible individual or any other person, including an employer or a family member, on behalf of an eligible individual. Contributions, other than employer contributions, are deductible on the eligible individual's tax return whether the individual itemizes deductions or not. Employer contributions are not included in income. Distributions from an HSA that are used to pay qualified medical expenses are not taxed.

Here's how they work. You purchase a qualified high deductible health care plan and then open a health savings account with your bank or credit union. A qualified high deductible health care plan has a $1200 individual and $2400 family deductible. This plan can also only have a maximum annual out of pocket of $5950 for an individual and $11,900 for a family. As a single you may deposit up to $3100 into the HSA account, and as a family or couple $6250 annually.

You then deduct that amount from your income taxes thereby making the money in the account tax free. Some of the fees that you can pay with your tax free dollars are:

Deductibles Birth control pills Coinsurances Acupuncture Prescriptions Eye surgery Dental care Hearing aids Vision care. Long term care/nursing homes

The bank or credit union usually gives you a debit card to pay with, thereby eliminating the confusion of paying. The money in the account rolls over from year to year and you never lose it and most financial institutions pay a nominal interest rate on the account. In 2010 you were able to use these funds for over the counter medications, as of 2011 you can no longer pay for over the counter medications from an HSA, only medications that require a prescription. There are many other qualified expenses that can be paid from your Health Savings Account. If however you use the money in this account to pay for expenses that are not qualified, not only will you pay the normal income tax, but also a penalty of 20%. It is important to make sure that your expenses are qualified before paying for them with an HSA. Please go to http://www.irs.gov to find out more.

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Where Is Employer Sponsored Health Insurance Going?

Where is employer-sponsored health insurance going?

AND

What do I need to know when choosing a health insurance plan?

My goal is to educate the general public and my fellow citizens about all aspects of U.S. heath care and I want to discuss the many challenges related to America's health care system such as:

Health care insurance and where it is going Utilization of health care services Health care policy changes that are coming and needed Health care costs and what we can do to manage them Personal health promotion strategies

To begin, there is much that we as individuals can do to insure that quality health care is accessible to all. My primary goal is to educate and persuade you that in order to preserve quality health care for all, we have to do something that may seem counter intuitive and that is to personally access health care services less if that is at all possible for you or your family members. Why? Because by accessing it less, we preserve it for those who truly need it, which will be all of us sooner or later. In order to reduce our need for health care services preventive health care strategies are in order and need to be integrated into our daily life style. Prevention can keep us healthy thus delaying the onset of chronic diseases. Good health makes us feel good, we can become more productive and it can save us money. The best news yet is that there are a number of places you can go to access health prevention information for no cost at all.

It is open health care plan enrollment season again in America. Soon, if they haven't already, your employer will announce any changes in their health care insurance plan offerings. You may be asked to select a new plan, modify the one you have or re-select your existing plan assuming it is still available. This is what you can expect in the announcement:

Changes (if any) in the type of insurance plans being offered Increases or decreases in the premium payments Health savings plans that may be offered to help you to fund co-pays with pre-tax income The amount of out-of-pocket liability you may have to take on this year vs. last year

There was a great article about this subject in the October 22-23 weekend edition of the Wall Street Journal (WSJ). The author was Anna Wilde Mathews and I recommend that you go on-line and access that article if you can, it's a keeper!

From the get-go, you need to know some things so that you are not shocked by any changes your employer might be introducing. First, you and I (if insured by our employers) can expect to take on more of the cost. Second, look for restrictions to certain networks of physicians and hospitals you may have been using. If you seek care outside of your traditional providers (physicians and hospitals) you may be asked to pay more. Finally, expect to be asked to enroll voluntarily in personal health assessments and screenings that are designed to uncover any health risks that you may be carrying and of which you are potentially unaware. Any negative results from these screenings like high blood pressure or high cholesterol readings for example are often manageable and the good news is that there is something that you can do about it. I don't know of any employer that can force you into these assessments but I do know that your employer can shift more of the cost of your health insurance plan to you if you choose not to participate.

A requirement to participate in a health screening may seem intrusive but it is well-known that managing our weight, eating right, exercising, not smoking and keeping our blood pressure and cholesterol levels within normal limits can reduce our health risks and our health care costs. So this is one reason why our employers are interested in us knowing what risks we may be carrying and why they want to offer help in managing these risks. In my opinion there is a way to think about these personal health surveys and a way not to think about them. We can be offended and hostile or we can view this as a chance to get a "heads up" on unknown health risks. Even though it is also about saving money, to employers It also reflects an interest in keeping us at a high productivity level, which can be a welcomed byproduct of good health habits. Make no mistake about it, many employers, small, medium and large are increasingly burdened by the costs of providing health insurance as well as keeping a productive work force. If they don't do something to get these costs under control they will risk becoming uncompetitive and we all know that can lead to cost cutting, which can often lead to job cuts. And we certainly don't need any more unemployment in this country. We need to understand that health care costs have to be controlled and there are only a few ways that employers can do that:

Employers can increase the amount the employee has to" kick-in" in the form of health insurance premium sharing, co-pays, out-of-pocket costs etc... With regard to out-of-pocket costs, employers are beginning to offer so-called "catastrophic coverage insurance plans". These plans do a good job of protecting us from high cost diseases, injuries and procedures, but they leave the every-day costs of seeing doctors, getting routine prescriptions and such to us. These types of plans have a premium that is much lower than the standard insurance plans but they will cost you more out-of-pocket up to a ceiling of say $2,500-to as much as $7,000 per family. It is easy to do the math to see if this is a plan for you. If you are healthy, have a good family health history and are disease prevention oriented this may be the plan for you. Make sure you check out what the plan pays for and what it does not pay for. And make sure you budget and save dollars for any out-of-pocket health expense you may incur. Employers can provide incentives that encourage employees to take an interest in preventive disease strategies. These can come in the form of the health surveys I mentioned above. These are designed to give you vital information about yourself like blood pressure, your cholesterol readings (high and low density), ascertain whether you smoke and offer help in quitting, or determine for example whether you suffer from back strain. In other words they want to know of any risk factors that we may be carrying or that may be caused by our life style choices. And what together, with the help of our employer, might be done to lower our risks. As I mentioned earlier, we can look at this as intrusive and get angry or we can see this as an attempt on the part of your employer to push us gently towards an assessment of any health risks we may have while offering educational and support services that can help us to lower these risks. Another tactic an employer might use to control costs is to restrict our access to just any doctor or hospital we choose. They do this by setting up a so-called "preferred" health care network where the costs are lower and the quality of care has been assessed to be good. How do you know about the quality of the care? Good question and I can suggest "Health Grades" as a company you can search on this subject. Health Grades is in the business of measuring and reporting on the quality of physicians and hospitals. You can do the search yourself and see if Health Grades has any information on the health plan (hospitals etc...) or doctors that you are seeing or considering. Remember, if you are satisfied with your current hospital and physicians you can usually continue to go to them, it's just that you are likely to have to pay more of the cost in terms of co-pay and total out-of-pocket dollars.

For those of us on Medicare (health care for those of us over age 65) or Medicaid (state level programs for those of us below a prescribed income level) I will write more specifics about these plans in upcoming newsletters. Be assured, however, for Medicare recipient's that some of us are going to see our premiums rise, and at some point some medical services that are not well substantiated as a proven benefit, may be restricted or eliminated altogether. For Medicaid recipients, eligibility standards are being tightened and for those of us on these plans you can expect more restricted health care networks, which have a better track record of managing costs.

Stay tuned for articles on preventive health strategies.

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Health Insurance - A Hurdle to Work Efficiency?

Health Insurance is being hotly debated in corporate amongst regulatory bodies, legal bodies as well as among the personnel. People are the key to remaining competitive in addition to technological innovations.

Hiring and retaining the best in human-power calls for an invigorating workplace, attractive pay-packages as well as that elusive component of intangible benefits. Very often, corporate HR ties itself in knots in evolving an unbeatable offer or one which is a tad better than the industry norm.

Health insurance offers a way out for the employers. It goes without saying that there are both pros and cons to providing insurance of health to employees. Let us glance at some of the advantages and disadvantages of insurance of health

For

Change of scene from manufacturing to the less risky service oriented sectors Statutory mandates Rising awareness levels of the employer as well as employees Tool to retain talent and stay as a force to reckon with in the increasingly competitive world

Against

Complexity of Insurance plans Easily dissatisfied employees A justification for discontinuance of the benefits arising out of the alleged high costs of insurance

Some more aspects that need to be considered

Is the cost of health insurance rising? Why is it important in the context of employment? What are the alternatives available to insurance of health?

The Rising Cost: All the available evidences (rising cost of medicines, charges for consultation. hospitalization, surgery, etc.) point to it.

Importance in Employment: The support offered by health insurance is often seen as an addition to the income of the employee and can affect productivity, motivation, loyalty etc. The employers see it as an important tool towards hiring good talent and staying ahead of the pack

Alternatives:

a) Accidental Death and Disability Insurance: A strong challenger to the costly regular health insurance plan is the 'Accidental Death and Disability Insurance' once an add-on measure but now an insurance requirement (often legally required on some countries), and is low cost too, given the rising education levels, incorporation of safety measures at the workplace making accidents & the resultant economic losses less likely but covers the employer too against 'worker compensation' cases.

b) Group Insurance Schemes: Certain Group Insurance are custom made for meeting needs of employees are another low cost option before the employers.

c) Sharing Cost: Sharing of health insurance costs is an option and it is advisable to explore options with statutory agencies, employment partners etc.

d) Expert Advice:A regular health insurance advisory to the employees is seen as a useful resource who can share information on new policies, cost sharing options, ill-health prevention, healthy practices among other information.

The time is ripe now to give the best to the employees given the global economic slowdown, rising unemployment & higher costs of living.

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Medicare Insurance Is the Best Option Available for the Future

The health of a human being is subject to many types of deterioration sometimes due to the climatic conditions and sometimes due to the inability of the body parts in maintaining certain vital processes of the body. It is a general truth that is known to everybody that a human being's health is prone to many diseases and is also made to decay one day. In these circumstances sit becomes very important for a person to remain aware of the unforeseen circumstances that may arise anytime in life and can cause a huge blow to the body as well as to the financial condition of a person. The precautions against these disasters can again be taken by an individual itself. It is the individual who has to remain very vigilant about the conditions or the situations that may arise anytime in life and remain ready for it. Therefore it is advisable for a common man to take Medicare Supplement Insurance at an early stage in life. Taking Medicare insurance insures the future for a lifetime and makes the future of an individual very safe and secure for as long as a human being lives in this world. It is also a very advantageous and helpful for a person as it covers the extra expenses that are incurred on the health of a person.

The Best Medicare Supplemental Insurance is the one that covers the maximum of the expenses that are incurred on the health of an individual and at the same time it is the one that has the minimum premium to be paid by an individual. Therefore it is quite essential for a person to remain aware of the Medigap Insurance Rates that exist in the market and to get that particular health insurance that gives them the maximum benefit over their health expenditures. Not only this, an individual also has to remain aware of the fluctuations in the premium rates of the Medicare and accordingly make their decision of getting a health insurance. It is very important to take correct decisions while getting Medicare advantage because of the fact that it is a very important step for an individual that e needs to take very early in his life.

To avail insurance it is not necessary that a person has to be of an old age because the need for insurance can arise anytime in life and therefore it is advisable for a person to avail insurance as soon as possible in life. Supplemental Medicare Insurance is of great help for a person who takes it early in life for the fact that it gives a large number of advantages to an individual. It is not only meant to secure the future of a person but is also meant to serve the many pitfalls that exist in the life of a person. It makes a person safe for his future and lets him live his life in a lot of comfort and tension free. It is due to the Medicare insurance that a person gets the advantage of using his money in something that is productive apart from the money that he incurs in his health.

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Large Corporations - Success of Money-Saving Strategies and Premium Only Plans

It is well documented and understood by most large corporations that the cost of sponsoring health insurance is generally more than compensated by its benefits. Stronger motivation, higher employee retention, and the time and money saved through reliable insurance serve as commendable rewards for a company with the resources and savvy to sponsor health benefits for its employees. What many large corporations are not aware of, however, are the ways in which premium only plans serve to lessen the burden and increase the benefits of sponsored health plans. Compatible with most managed-care plans, POP plans allow large corporations to sponsor their health care plans at affordable prices.

As of 2011, employer sponsored health care covers the largest portion of insured Americans (approximately 156 million). The most important branch of businesses sponsoring insurance is the large corporation sector; with a 97.8% of large businesses offering some form of sponsored health insurance, the "big business" branch insures more than two thirds of all covered employees. Being such major consumers in the health care market as a whole, these corporations inevitably fall into insurance cost strategy trends. With the recent and dramatic health care premium price increases, the current strategy trend corporations employ involve the utilization of the competitive market via Managed-Care Plans.

While Managed-Care Plans (among other strategies) have benefited many corporations in the short term, national polls indicate that the contemporary benefit strategies have failed to stem the gradual decline of sponsored benefits among large corporations. Over the last decade the percentage of individuals with employer sponsored health insurance has decreased from 69% to 61%. A deceptively slight shift until one considers that the eight percent decrease equates to about 7.3 million individuals losing their insurance benefits. Large corporations interested in augmenting the rising cost of healthcare premiums and thereby avoid the loss of their sponsored health care should consider premium only plans as an affordable and accessible money saving strategy.

Premium Only Plans allow corporations to deduct their employee's premium contributions pre-tax. The tax-free deduction not only greatly increases the take-home pay of the employee, it also equates to approximately 7.65% in annual FICA tax savings for employers. Premium Only Plans are especially beneficial to large corporations, as the tax benefits provided through the subscription of large employee bodies provides a gradually increasing tax return; in effect, large corporations utilizing a POP plan generally have all the costs associated with its initial set-up reimbursed within the first year of compliance. The accessibility of POP plans combined with the legislative promotions occurring nationwide insures that premium only plans are compatible with most pre-existing benefit plans and strategies.

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Health Insurance - Benefits of Private Care

If you are considering whether you should buy private health insurance then there are several key benefits you should take into account. Private health care was created in the 20th century to start covering the rising cost of public health care. These companies are for-profit business ventures that provide private health insurance for individuals. Quality of service is one of the main benefits you will enjoy if you choose private health insurance. Private health care encourages competition among rival insurance companies, hospitals and physicians. The freedom that a patient has to choose which health care provider they want causes incentive to provide high-quality service among the health care industry.

This type of insurance also gives you the freedom of choice to decide where you want to be treated. It gives you options for coverage and a choice of physicians and you can choose your preferred hospital or clinic. However some policies restrict treatment to a set list of hospitals. Another major benefit is that there are no waiting periods and you will be able to receive the health care you need immediately without waiting for months to receive medical attention. Public health services can take many months on the waiting list before you get the medical services you need but private health care ensures this happens straight away so you can get on with your life.

Private health insurance also gives you the peace of mind that you will receive care immediately if you are struck down by an illness and cannot afford to wait in line at a public hospital. It also means you won't be stranded with enormous medical bills that you cannot afford if an accident happens. You can also be less concerned about the problem of MRSA in public hospitals which will give you peace of mind. Another major benefit of private health insurance is the level of personal care you will receive. In a private hospital you won't have a group of medical students accompanying your appointment with the consultant. You also won't have to wait hours to see them and you will have a longer amount of time to talk about your symptoms with the doctor. You will also likely be able to see the same consultant throughout your medical treatment and this means you can be assured your doctor will know your case and you. Get in touch with a professional broker today.

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