Health Plan -How to choose
How do I pick a health plan?
If your employer gives you a choice of plans or you need to purchase your own coverage, it is crucial that you understand your health insurance choices and pick the insurance that is best for you and your family.
Here are some questions you should ask yourself when choosing a health insurance plan:
How affordable is the cost of care?
- What is the monthly premium I will have to pay?
- Should I try to insure most of my medical expenses or just the large ones?
- What deductibles will I have to pay out-of-pocket before insurance starts to reimburse me?
- After I’ve met my deductible, what percentage of my medical expenses are reimbursed?
- How much less am I reimbursed if I use doctors outside the insurance company’s network?
Does the insurance plan cover the services I am likely to use?
- Are the doctors, hospitals, laboratories and other medical providers that I use in the insurance company’s network?
- If I want to use a doctor outside the network, will the plan permit it?
- How easily can I change primary-care physicians if I want to?
- Do I need to get permission before I see a medical specialist?
- What are the procedures for getting care and being reimbursed in an emergency situation, both at home or out of town?
- If I have a preexisting medical condition, will the plan cover it?
- If I have a chronic condition such as asthma, cancer, AIDS or alcoholism, how will the plan treat it?
- Are the prescription medicines that I use covered by the plan?
- Does the plan reimburse alternative medical therapies such as acupuncture or chiropractic treatment?
- Does the plan cover the costs of delivering a baby?
Types of Auto Coverage
The law is that as long as you own a car you must have insurance. In 2001 and 2002 auto insurance premiums rose drastically. The fact that the emergence of baby boomers into late middle age is lowering accident rates and cars are becoming safer is helping to lower the cost of auto insurance. Despite these changes annual auto insurance premiums for Americans remain close to or above a thousand dollars. Because auto insurance coverage is specific, individual annual auto insurance premiums can vary drastically. Individual rates depends on the following factors:
" The driver's age.
" The driver's record.
" The type of vehicle.
" The age of the vehicle.
" Where the driver lives.
By choosing coverage specific to your individual needs and doing some careful shopping, you can get a good deal on your auto insurance.
Before you start looking for auto insurance you need to understand the three types of coverage available: liability, collision and comprehensive. Each of these types of coverage account for a part of the premium you pay for your auto insurance.
Taken together the collision and comprehensive sections of an auto insurance policy make up 40 percent or more of premium costs. In addition, these two sections involve a deductible that must be paid before the insurance starts on the claim. Some auto insurance policies may also include medical payments for you and your passengers regardless of where the fault lies in an accident. Other auto insurance policies may include uninsured motorist protection in case an uninsured driver hits you.
Most auto insurance policies offer low-cost additions, or riders, that you can add onto your policy depending on your personal preference. These additions may include rental reimbursement in case you are without your car for a period of time after an accident or in the event of regular mechanical repair. Some insurance will allow you to add-on towing insurance.
The following is an explanation of the three types of coverage:
" Liability: This coverage is to protect you when you are the one that causes the accident, or are "at fault."
" Collision: This coverage pays for any repairs your vehicle requires or for the replacement of its market value if your car is beyond repair after an accident. This coverage applies regardless of who caused the accident.
" Comprehensive: This coverage pays for repairs or the replacements of your car if it is stolen or damaged in a fire, flood or high winds.
You can reduce your insurance costs significantly by choosing only liability coverage. Consider this option only if your car is already paid for, and/or would be cheaper to repair/replace than to insure with full coverage
