When you are finally done with your high school education, there is no doubt that you’ll be enrolling into college or higher education. Many times when a child reaches the age of 20, they are no longer covered by their parents’ insurance. This can lead to a troubling situation if they are not working and just going to college full time. However, many colleges offer health insurance plans. Whether one of these insurance plans are right for you or not takes some comparisons and deliberation.

College health insurance benefits vary from campus to campus. Although many people think that they are free, this is not the case. While there is usually no charge for an office visit and routine checkups, the student will have to pay for lab work and other specialist type of visits. Benefits will usually pay completely for only types of covered services at the campus health center. In the event that you have to see an outside doctor then the student’s coverage can drop up to 70% and run the risk of being required to pay a high deductible.

If you have a pre-existing condition, then you may have challenges with getting treatment at the school health center. Having a pre-existing illness or disability does not mean that you will be disqualified from obtaining a college health insurance plan, but you may not be able to get treatment for that pre-existing illness. This can lead to a number of problems if a new problem arises and is a product of a pre-existing illness.

All plans are different, so be sure you find out everything you can about your college’s plan. Be sure to check if you or your child will be covered during breaks when students are not taking classes like fall, summer and winter breaks. This is important because you don’t want to have an accident and find out that the insurance becomes inactive when they are not in school. Many colleges have coverage during summer break, but some do not. 

Make sure you understand the plan. Can the member use any provider they want or is it an HMO? This is just as important because you want to know where you can go in the event of an emergency, and there is nothing worse than finding out after the fact that you will be stuck with paying the full amount for a medical bill.

There really is no definitive answer as to whether you should or shouldn’t commit to getting college health insurance. Be sure that you understand your plan fully so that no problems can arise in the event of an emergency. While it is not free insurance, it surely will save you money in the event of an accident or illness.

Long-Term Care Insurance is still fairly new on the market and a lot of people don’t know that it even exists or what it covers. Even those who have heard the term don’t know always when benefits are paid, how they are designed, and who qualifies or needs coverage. Many people don’t think about this type of coverage until it is too late to get a great rate and higher benefits. They wait till they are past retirement age and closer to needing to cash in the benefits instead of investing earlier and maximizing your options. It is becoming more of a common practice for people to start thinking about what will happen 30, 50, or more years ahead. Many people invest in 401Ks, IRAs, stocks and bond, and other types of investments to prepare for the future. Many people think this will pay for living expenses and leisure activities once retired. Things don’t always go according as planned.

What happens in the unfortunate incidence of an accident and you need help with your daily living activities? Or, you get to a point in your elder years that you require home care, as you grow older? You may decide you would rather live in you home for a long as possible and would need to have enough for personal home care. Some seniors enjoy assisting living facilities that provide 24 hour nursing care, but still let you be as independent as you can. There are also those unfortunate instances where nursing home facilities are need to tend to varying degrees of illness. Long-term care is designed to provide you help with these services due to a long-term illness or disability. The average cost of these types of care can cost around $40-$100 thousand per year and sometimes more. It is a very quick way to eat your saving and social security benefits. If you think Medicaid or Medicare will help, think again. Even if and when you qualify, your saving is now gone and they will only pay up to 50% of the cost, someone has to come up with the rest. Long-Term Care insurance can help with these costs in the unfortunate event you require nursing care.

Who should consider Long Term Care Insurance? If you think you will not qualify for Medicaid or full Medicare benefits due to a large saving, assets, or high income, this is a program for you. You do not want to end up having your children to pay for these expenses while you have to have them and possibly well after your death. It will keep you able to leave your loved ones a little something instead of sucking all your assets dry. Also if you can afford to pay the premiums you will likely not qualify for assistance so would truly benefit. If you currently have chronic health issues or have a family history of a long-term illness you would be off purchasing now than waiting. It will be too late to get a policy after you have already developed a long-term illness or disability. If you think at any point you might fall into any of the categories you might want to consider getting a plan earlier to be safe and covered. You can purchase a policy from most large insurance companies. As always, every state has different insurance regulations, therefore it is best to check with your state on specific determining factors and qualifications.

This coverage will help provide nursing-home care, home-health care, personal or adult day care usually for individuals above the age of 65 or with a chronic or disabling condition that needs constant supervision. LTC insurance offers more flexibility and options than many public assistance programs. Long-term care is usually very expensive, which is why most people need insurance. For example, on average, nursing facilities providing skilled care charge $150 to $300 per day, or over $80,000 a year or more. Even custodial home care at three visits per week, can cost over $9,000 a year. Most LTC insurance policies will cover only a specific dollar amount for each day you spend in a nursing facility or for each home-care visit. Thus, when considering an LTC insurance policy, read the policies carefully and compare the benefits to determine which policy will best meet your own needs.

You may not know this already, but when you plan to travel abroad, you cannot take your local insurance with you. In order to have coverage, you’ll need to purchase an international insurance plan offered by a multinational insurance company. While they may be hard to track down, it is the best way to assure that in the event of an accident or illness you will be able to acquire medical attention if needed.

Many of these plans will cover you up to six months in another country. When you speak with the insurance company, be prepared to give an extensive list of information to them. This will range from health problems you’ve had in the past ten years, your hereditary conditions to substance abuse, and almost everything else, if it has anything to do with your health, be prepared to disclose the information. If you are planning on traveling with more than one family member, then be prepared to give information for each family member as well.

Many times your basic coverage will include emergency treatment regardless of which facility it is administered. This is not the case with minor medical treatment. It is important to know whether you are buying an insurance plan that is an HMO or PPO. If you are under an HMO or health maintenance organization, then you will be limited to receiving care from only the providers who are in their network. You can retrieve a list of all the companies within your insurer’s network upon request. If you are under a PPO, or preferred provider organization, you will have the opportunity to pick the best facility you see fit, but your insurer will only cover a portion of the incurred cost.

If you plan on staying abroad for more than six months then you will need to look into what is called expatriate health insurance. Only larger companies supply this type of insurance, as it is much more extensive with the type of options that can be applied to each policy. The type of treatment options that are covered with expatriate health insurance are those that are labeled as specialty treatments, like acupuncture and chiropractic therapy. There are many options that can be applied to expatriate health insurance depending on your family’s needs and how long you plan on spending abroad.

There are many options for health insurance when you are traveling abroad. While many individuals never consider purchasing insurance when traveling to another country, this should be at the top of your list when planning for a trip. Health insurance should not be taken lightly. Be sure you understand every aspect of your policy before deciding with any one particular company.

Recently I had the opportunity to switch health insurance carriers.

Why switch? First, my existing carrier increased my premiums regularly. This was interesting, because I didn’t make one claim in over 3 years and only used 1 doctor visit a year towards my deductible. I certainly wasn’t a strain on their program, in fact, they made out quite well from my premiums. Second, they didn’t have a flexible payment plan. Either I had to pay annually by check, or monthly by ACH debit from a bank account. Neither plan fit my needs.

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Look out, you may be asked to pay more for your company’s health insurance plan if you’re out of shape.

That’s right, more and more companies are taking a controversial approach by ‘encouraging’ employees to get fit by lowering their insurance premium deductibles if they pass a yearly physical fitness test. If they don’t, they pay a much larger deductible.

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With healthcare, medications and insurance costs rising, it isn’t surprising that people are trying to figure out ways to avoid getting sick and choosing a better lifestyle to lower health insurance costs. There is actually quite a bit you can do to help save some cash. Mostly, it’s just a matter of tweaking ones lifestyle choices and preventing health issues from arising and keeping the immune system strong so you don’t get sick often. For those who are seriously sick of high medical premiums and paying skyrocketing costs year-round for doctor’s visits and prescriptions, this should be a great thing. Little things make a big difference when it comes to your health.

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Are you having trouble getting your insurance company to pay your medical expenses? It’s not uncommon. When managed care entered the insurance scene a decade ago, its mandate was to contain rising medical costs. One way to do that is to deny claims, even when claims are legitimate. The consumer backlash led to many states establishing independent review panels and requiring insurance companies to develop in-house appeal procedures. Forty-two states now have independent review boards whose decisions can override those of insurance companies. Most consumers don’t even realize these review boards exist.

Another issue is that too many people just give up when their insurance claim is initially denied. The appeals process can be frustrating and long and most people don’t have the patience or time to pursue a claim no matter how legitimate it is. People must be persistent and they can win. Especially if there is a substantial amount of money involved, the time you dedicate to appealing insurance company decisions can usually pay off faster than you think. A Kaiser Family Foundation study recently found that 52% of patients won their first appeal for each claim made. The insurance companies aren’t getting away without paying anymore.

If your first appeal gets turned down, continue to press on. The study found that those who appealed a second time won 44% of the time. Those who appealed a third time won in 45% of cases. This means the odds are in your favor no matter how long it take. Remember that every time you appeal it costs the insurance company more money and they are not only going to lose money to you, but also in court costs. Medical health benefits are particularly tricky because insurance companies usually have a cap on the amount of money they’ll spend in a given year, or on the amount of visits they’ll pay for. But there’s often flexibility when you can document that you or your child’s health warrants more care than your policy normally covers.

Here’s how to get started:

Do Your Homework

Read your Policy Thoroughly: What are the benefits? Which kinds of services are included? Inpatient or outpatient care? Is it a serious or “non-serious” diagnosis?

Know the law: Contact your local Health Association to determine your states legal requirements regarding insurance payments for an illness. Does your state require full or partial parity? Are parity benefits available only to patients with “Serious Illness” or is a so-called non-serious illness also included?

Provide written documentation: Some insurance companies may not consider some diagnosis serious. In this case, you will need documentation to validate the required services. Obtain a letter of medical necessity from your doctor and get test results showing the medical need for you or your child to receive certain services, based on the diagnosis.

Keep good records: Remember, you’ll be dealing with a bureaucracy. Keep the contact names and numbers of everyone with whom you speak, the dates on which you spoke, and what transpired in the conversation.

Start early: If you can, start the appeals process prior to initiating treatment. For example, if the doctor states your child will need to be seen once a week for a year, begin immediately to appeal your insurance company’s policy of reimbursing only 20 visits a year.

Call and ask the insurance company:

• What are the pre-requisites for receiving health benefits?
• Which services must be pre-certified — and by whom?
• How many visits are allowed annually for you or your child’s diagnosis? Can multiple services be combined on one day and be counted as only one day or one visit?

Be polite, positive and patient with the customer service representative. Remember that they are only the messenger, not the decision-maker. They are the gatekeepers and can either provide you with access to a decision maker or make your life miserable, depending on how you interact with them.

Be persistent. There are no magic bullets. Be like a dog with a bone and don’t give up until you get the answer you want. If you don’t get anywhere after several calls, ask for a supervisor or a nurse in the pre-certification department.

Remember that you do have the right to appeal if your claim is denied. Most consumers get discouraged and will not continue to pursue a claim that should or could be paid. Insurance companies count on that happening, so get out there and claim what justifiably belongs to you.

Recently a woman from Las Vegas sought out to buy health insurance. She searched around and found something that looked and sounded just like health insurance. The Las Vegas woman wasn’t 65 yet, which means she doesn’t qualify for Medicare, so she went online looking for health insurance. She ended up finding something called Healthcare Advantage, and signed up after paying $100.

Come to find out, this was not medical insurance at all and the sales representative never told this poor lady. She found that out after her cards arrived in the mail. In tiny writing at the bottom, it read, “not an HMO, PPO insurance or managed care company”. It was basically a discount plan. These plans do not have the same coverage as a full medical health insurance policy. Before making a commitment, make sure you know what you are getting and if it fits your needs.

So what is a discount plan? The plans claims to save people money by offering discounts on physician visits, prescription drugs, dental work, eye care and other treatments for a monthly fee. Unlike normal health insurance, which is very costly and very selective about who it covers, a discount health plan accepts everyone, no matter what health conditions they may have. You will use a list of doctors that are willing to charge discounted rates to the subscriber. The discount plan is not the same as health insurance coverage, so you will pay more for visits and other services that you wouldn’t with a regular medical plan. The average savings is approximately 25% and that could be very expensive if you have to see a specialist or require surgery. These networks claim to have as many as 400,000 doctors and 50,000 hospitals available to choose from, but what if none of them are near you? You can get a savings of up to 30% on both generic and brand name drugs which could also be costly if your prescriptions are expensive or if you have multiple prescriptions. If you have an existing health plan but have a high deductible, this extra plan may help save you some money. But to use the savings plan as a complete health plan isn’t recommended. It really isn’t designed for that and will cost you more than a competitive HMO.

HMOs and other medical plans can offer full medical coverage at great rates. Managed care plans are recommended for those who are limited on funds. They offer the best policies for the least amount of money. Most of these plans are available to anyone and can save you considerably. You can make the plan even more affordable by asking for a higher deductible, which will lower your monthly expense. Most HMO’s do not have one at all but, you can request one, and most basic PPO’s and POS’s only have a small one, usually $200 to $500 per year, which you can also asked to raised to lower your monthly payments. The co-pays are also very reasonable with these types of plans. If you choose to purchase an HMO, expect to pay about $5-$10 per office visit and per prescription. With PPO’s and POS’s you will have a 20% co-pay with both visits and medications. The differences are how strict they are and you pay more of a co-pay to have extra flexibility. Usually a PPO or POS plan is less expensive and you have more freedom to see whom you want so the insurer makes you more responsible for payment. HMO’s tend to be the least expensive and best policies for people with fixed incomes.

Review your needs and double-check what you are getting. If you need full medical coverage with low co-pay then a discount plan will not work for you. If you are already covered by a medical group but have a large deductible then you might benefit from the extra savings a discount plan can offer. Also, ask whether the plan is health insurance that covers your treatment, or is a discount plan that still requires you to pay all medical bills yourself less the discount. Beware of slippery sales pitches. Make sure you know what’s being offered. Discount health plans may only sell you access to a large mailing list of medical providers that it purchased commercially. Don’t assume you’re getting access to a large provider network just because your discount card displays the network’s name and logo. If you plan to use a specific listed doctor, hospital, pharmacy or other provider, ask a few questions before you sign up. The more details and information you get, the better decision you can make for your health insurance needs.

Supplemental insurance benefits, like heart/stroke insurance or cancer insurance are paid directly to the insured, unless otherwise required by Medicare supplemental insurance. Hospital and major medical insurance benefits are paid directly to the provider, where you would normally have to pay a small co-payment, if anything. But if an emergency were to happen or you had a specific disease or condition that was going to cost you out of pocket expenses, investing in a supplemental plan is an idea to consider. As a policyholder, you can use those benefits to help with your out-of-pocket expenses or loss of income. Supplemental insurance products such as cancer and accidental injury insurance are not a replacement for major medical insurance. These types of policies help to cover expenses that are not covered by major medical insurance and reduce the money paid out by the insured. These policies can also pay for lost income in the case of missing work.

Supplemental medical insurance only provides coverage after your regular medical insurance has been exhausted. Supplemental medical insurance is normally used to pick up where basic medical insurance leaves off. You will have to have a regular health insurance plan to be able to use the supplemental insurance. When this coverage is exhausted, your supplemental medical coverage would begin paying. Supplemental medical coverage is written in a separate policy, and does not include coverage for basic doctor visits. Supplemental insurance can definitely be a lifesaver for many people. The only downside is that they can be expensive and useless if you never need them. You have to pay for your regular medical coverage and then add an extra policy or two which can get pretty expensive. If you try to purchase a policy after you have become ill or injured it won’t cover a pre-existing condition, so you will pay out and not receive any benefits for the condition you already have. The idea is that you have to buy into a supplemental plan prior to the incident or condition so they can prove you are healthy. There are some plans for supplementing your health insurance that can be used at any age as well.

Cancer insurance provides benefits to help cover costs for cancer treatment and other related expenses associated with the disease. Most policies provide direct-to-policyholder cash benefits for daily hospitalization and intensive care unit confinement, as well as for surgery, anesthesia, chemotherapy, radiation, and preventative care. This is a good plan to have if you have a family history of cancer, it could save your life and your wallet.

Critical Condition/Critical Illness Insurance is a policy designed to provide you with a lump sum benefit to help pay out-of-pocket expenses if you suffer a heart attack, stroke, have heart surgery, cancer (except skin cancer) or several other conditions. It covers illnesses and diseases that cause you to be hospitalized for critical conditions and picks up where you regular benefits leave off.

Disability Income Protection supplements lost income by paying a monthly benefit to you if you become partially or totally disabled due to a covered illness. This also provides a daily benefit for in-patient hospitalization for a covered illness. This policy has a reduction in benefits after age 65.

Hospital Emergency Recovery and Outpatient Insurance (Supplemental Medical) provides benefits for treatment due to a covered illness including daily benefits for in-patient hospitalization, intensive care and recovery care following hospital confinement due to a covered illness. It also provides a benefit for outpatient surgery and emergency room treatment for each covered illness.

Some of the plans geared toward the elderly and retiring persons are actually very smart to have. They can help pay for things that Medicare won’t or can’t. They also offer assistance if you ever need to be cared for at home, move to an assisted living home, or need to go to a nursing home. These types of expenses can leave other family members in debt after you are gone. Funeral and burial are normally covered as well. This gives many folks the ability to leave their families something other than bills. Also with assistance for medication there is more money to enjoy while you are still around.

Some age related supplemental insurances include:

Long Term Care Insurance can help cover the high cost of a variety of long-term care options such as: assisted living facilities, medical home care, custodial home care, adult day care, and if necessary, nursing home care, up to specified policy limits. Includes bed reservation benefit, respite and hospice care, emergency response system, and caregiver training. For an additional cost, you have the option of a valuable cost-of-living adjustment option. Separate Nursing Home Care and Home Health Care only policies also are available in most states. These will pay if you or your spouse needs to go into a nursing care facility.

Medicare Supplement Insurance is normally for people 65 and over. These offer a wide range of standardized plans that supplement expenses not covered by Medicare. This will help pay for doctors visits and prescriptions that were only covered partially by Medicare.

Most individuals can get good group rates through their employers. As long as your place of business has more than 50 employees and actually offers a medical plan, you ought to be able to get a good deal. The overall cost is based on how many of the employees actually have the insurance plan. The more people who are signed up, the cheaper the plan will be. Most people will choose this over going with a private plan because it is much more cost friendly. That is one of the first things you should be looking for when seeking a job; whether or not they offer insurance benefits or not. At your interview ask to see their healthcare providers plan and rates and review it at home. This way you can see if the plan offers what you want and at a price you can afford. There are some private insurance companies that have reduced individual rates that are comparable to group rates.

When going with a private company make sure you shop around. Check several companies and have a checklist of your definite needs and requirements. Also know how much you are willing to pay. Plan ahead for the future. Buying insurance at a younger age and better health will get you a low cost deal you have been looking for. Take a plan with a higher deductible if you can afford to pay out a few hundred dollars here and there till it is met. This will save you money on your monthly fee and won’t be a huge bill if you have an emergency.  Look for a HMO, PPO, or POS plan, they are cheaper than traditional plans and tend to have very low co-pays. Don’t over-insure yourself, you don’t need anything more than normal coverage. Most plans will pay if you get sick or injured after the policy is in place.

Managed care plans are the way to go for those who are limited on funds. They offer the best policies for the least amount of money. Most of these plans are available to anyone and can save you lots of money. Make sure you find out if you have a deductible and how much it is. Most HMO’s don’t have one at all, and most basic PPOs and POS only have a small one, usually $200 to $500 per year. The co-pays are also very reasonable with these types of plans. If you choose to purchase an HMO, expect to pay about $5-$10 per office visit and per prescription. With PPOs and POSs, you will have a 20% co-pay with both visits and medications. Usually this is because the plan is less expensive and you have more freedom to see whom you want so the insurer makes you more responsible for payment. HMO’s tend to be the least expensive and best policies for people with fixed incomes.

The best and most assured way to guarantee that you are getting the best and reduced prices for health care benefits is to make sure you work for a large company. The more employees there are, the cheaper the cost out of your pocket. Find out how many employees a company has and what the percentage are in company’s insurance plan. Talk to the other employees and ask them if they like the coverage and has it suited their needs. Also, ask them if there have been any problems. Talking to the people who have used the coverage that is being offered and what it has done for or to them will let you know if this is the type of company you want to work for. Think long term when job hunting, it isn’t just about a paycheck. Sometimes a few dollars less per hour is better to take if the insurance plan is superior. You also need to think about what will happen if you are ill and can’t be at work and how to pay for these expenses. Look for a job that pays well and has great medical coverage, you will be much better off in the future. Not to mention you never know when you might get sick or injured and need coverage for those expenses.

Another option is to choose plans that offer group rates for individuals through an association. If you’re self employed or run a small business with only a few employees, this is a great option since it offers the same coverage that working for a large company would at very reasonable rates. In this scenario, part of your monthly premium goes towards your association dues and allows you to be part of a larger group and share in the benefits.