Health Insurance Scam Alerts
The Texas Department of Insurance (TDI) has recently issued a warning to PPO organizations about unauthorized insurers soliciting businesses. What really concerns me about this warning, is that compared to the average consumer, I would expect a preferred provider organization to be sophisticated enough to determine if an insurer is real or bogus. The TDI recounts a study by the US General Accountability Office that over 200,000 policy holders have been affected by unauthorized insurers nationwide. This left over $250 million in unpaid medical claims for the providers and policy holders to sort out.
I would have assumed that individuals had been the major victims, but actually small businesses were hit very hard. So if you are solicited by an insurance agent, you should feel free to contact your state insurance department to verify his or her license to do business in your state. Also make sure you obtain the name of the insurance company your business is being sought for, and check them out with your state insurance board as well. Take this advice if you are an individual, seeking insurance for your family, or if you are a small business owner or representative looking to cover a company.
Avoiding the Bogus
Some warning signs to look for are company names that you have never heard of. One tactic unauthorized health insurers use is to make up names that sound a lot like major companies. Another tactic is to claim to be part of a multiple business group, and thus not subject to state regulation. Now, such things do exist under very specific situations, but you can still check them out with your state insurance department. Of course, the last red flags would be very low premium rates or promises that major health issues will not affect underwriting.
Even some experienced and ethical insurance agents have been duped in recent years. Unauthorized insurance companies use very slick promoters who use all of the right buzz words to solicit insurance agents. The agents may be seduced by the thought of being able to offer their clients a very inexpensive health insurance plan that will accept people with health conditions. Of course, insurance agents should always contact their state insurance board about unfamiliar insurance companies, but just like any group of people, agents can get complacent and be na
Posts Tagged ‘Preferred Provider Organization’
Cheaper Health Insurance – Things To Take Advantage Of
December 24th, 2009
You must learn to take advantage of a lot of things (in an ethical way) if you really are serious about enjoying cheaper health insurance that won’t leave you or your loved ones exposed. Let’s look at things that you should consider…
1. You can insure your kids through state plans if you need to reduce your health insurance spend. Nevertheless, not everyone is eligible to use these plans.
These plans are usually either free or requires little payment. These state plans for kids will save you a lot of cash if you have a child with a special health condition when compared to what you would spend if you buy standard health insurance.
2. If you take advantage of phone med services you would have done a lot to reduce your rates. A phone med service works twenty four hours everyday and gives free medical advice. You can trust the advice you get because they are manned by trained personnel (normally not less than a registered nurse with at least ten years experience). Local clinics offer free medical advice by phone in most cases.
This reduces the number of times you see a doctor and as a consequence your total health insurance cost on the long run.
The advice you get from them could also help you take safety measures that will prevent a serious health condition. For these and more reasons, use these free medical services.
3. Similar to an HMO, a Preferred Provider Organization (PPO) is usually more affordable than traditional health insurance. This alternative is a little costlier than an HMO but as well offers more choices.
You can check your needs and what your profit would be for either using a PPO or traditional health insurance. If saving is more important to you than flexibility then make use of a PPO.
4. That extra weight will make you pay more. There is something known as Body Mass Index (BMI) which is used to determine a prospect’s rates.
If your BMI rating is high, your premium will be high. When your Body Mass Index rating is high it simply means that your weight is too much for your height. Put more effort into shedding excess weight because losing even a few pounds could give you another Body Mass Index rating and result in more affordable premiums.
5. You can lower your rates by staying away from alcoholic beverages. Drinking adds to your health risk. Drinking is the source of a good number of health conditions and that is apart from the fact that it will also add to your risk to health insurance providers.
What quantity of alcohol can you take without any side effect? I cannot really say as there are people who can take a bottle and still be okay while some will drink just a sip and things start going wrong.
What I know is the fact that avoiding alcohol abuse is would help a lot. For those who can’t abstain totally, endeavor to drink responsibly.
But I am told it’s more difficult to drink in moderation than it is to quit. Seek help if you want to stop drinking alcohol. There are groups that help alcoholics quit drinking.
6. You can lower your health insurance premium by obtaining quotes from at least five good quotes sites. Each site will take you around 5 minutes or less to obtain quotes. (As you visit each quotes site, make sure you give the same details. Furnishing incorrect information will return misleading results).
By: Chimezirim Chinecherem Odimba
Health Insurance Plans for Students
November 19th, 2009
Health care insurance is a necessity today. Most educational institutions in the United States require students to be covered for healthcare. Surveys reveal that nearly thirty percent of students in the US do not have healthcare insurance, and ask their parents for financial help when in need. These students are most likely to drop their studies for financial reasons, as they have to work to pay off their dues of healthcare expenses.
Many students find it difficult to meet the costs of healthcare insurance, because it does not come cheap. However, it is advantageous for a student to have this medical insurance.
Although there are many plans offering student health insurance, they can be categorized into three basic types: parent’s health care plan, college health insurance plan, and the commercial health insurance plan. Each of the mentioned plans has their own advantages and disadvantages.
Under the parent’s health care plan, a college student may not be covered, after a certain age. If that is the case, extra coverage called COBRA needs to be obtained, which is not necessarily cheaper than purchasing a different plan altogether. Moreover, it may be a pre-requisite that the student should have at least ‘x’ number of college credit hours to qualify for the coverage.
The college plan can offer coverage through HMO (Health Maintenance Organization), or PPO (Preferred Provider Organization). These are group plans and generally cheaper than commercial health plans. However, the coverage offered may be limited. Other options would have to be explored for coverage that is more comprehensive. The college plan is preferable when there is an ‘on campus’ hospital. Most of the college plans cover all accident or health care expenses, subject to the condition that the student continues to be registered with the college for a particular duration.
Many companies sell commercial health insurance. The terms may differ widely, hence, it would be essential to purchase a plan that offer facilities that one finds suitable. The best way would be to make a list of the features that are important, and then get the details for different plans from various companies, and compare them to decide which plan is the best one.
Under the commercial health plan, there is the temporary student health insurance, which is meant for students staying away from home. It can be availed for periods of thirty days, to six or twelve months. According to the temporary plan, the student can find a doctor or hospital of his choice by taking an Indemnity Plan. Alternatively, he or she may take the Managed Care Plan, which allows a choice of doctors and hospitals that are in the plan’s network. The Managed Care Plan has lower premiums than the Indemnity Plan.
Most states in the US have legal stipulations, which require compulsory health care insurance for foreign students, and set a minimum amount that should be available for emergency evacuation, medical treatment and repatriation of remains, if required. International student medical insurance costs approximately six to seven hundred dollars per annum.
In view of emergencies requiring medical attention, it is essential for students to be covered under health care insurance. It is a precondition for registration in most educational institutions in the US. Many states have laws that make it compulsory for foreign students to be covered by the health care insurance.
By: Joseph Kenny