It seems that the more insurance one has the higher go the fees. Doctors now earn substantially more than they did proportionally few years ago. While they know that their patients can recover most of the cost for their service they rarely get an argument from them. In Australia we have the Medicare system that covers everything for those without private health.
The previous Prime Minister, Tony Abbot, put this extra burden on people that they must have health insurance. Only the pensioners above 75 years are now covered by bulk billing. That is they are not charged and the government pays for them. Prior to the Abbot changes everyone had this type of benefit but the cost was unsustainable.
Because of that rise in fees the government is now looking for ways to cut it back even further. The increase in population from overseas migrants is putting an extra … Read More
In its most simple definition, a health insurance broker (also commonly known as an agent) is someone who is licensed to sell health insurance. However, there are many other services they provide you that fall under the umbrella of selling health insurance. Here are some of the most important:
- Perhaps the most important fact to know about working with an agent is that it’s free. Insurance agents are paid by insurance carriers, not by consumers. So don’t worry about having to pay some service fee for signing up for a plan with an agent, because it will cost you nothing more than if you were to do it yourself
- Health insurance is confusing, and an agent will explain it to you until it makes sense. Ask all the questions you want, that’s what they’re there for. Want to know what your coinsurance will be on a certain plan? Want to
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If you are one of the many self-employed or work for an employer that does not offer any insurance benefits, you will have to shop for health and dental policy on your own or with the help of an insurance agent. For some this may seem overwhelming but it really only takes some research to gain better understanding on how insurance plans are organized.
When reading a health insurance policy you will encounter insurance specific terms. These terms tell you what you are responsible to pay and what the insurance company will pay.
Copay – This is a cost sharing agreement in which the insured pays a predetermined amount and the insurance company pays the rest. Example: You have a $50 copay for a doctor visit where the cost is $80. You pay the $50 and insurance pays $30.
Deductible – This is how much the insured is responsible to … Read More
Time and time again there is a solution to every problem, challenge, obstacle or anything else that may cause us to fret. Ecclesiastes 3: 1-8. The Affordable Care Act never stated insurer had to do away with the underwriting process. Several elements to sell plans were implemented to conform and to be compliant with the law which included: essential health benefits which are all necessary; with the exception of pediatric dental and vision coverage, especially for someone who does not have minor children in their custody.
The other element is the fact that carriers could no longer deny coverage to consumers who has more than enough health related conditions with exorbitant premiums, terms in the insurance world “rated” because of preexisting conditions.
This is the major problem facing the health sector and why insurers are unable to measure their risk with finding reasonable rates for the American people. This is … Read More