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Thursday, December 20, 2018

Different Types of Health Plans: How They Compare

Different Types of Health Plans: How They Compare

You have choices when you shop for health insurance. If you're buying from your state's Marketplace or from an insurance broker, you'll choose from health plans organized by the level of benefits they offer: bronze, silver, gold, and platinum. Bronze plans have the least coverage, and platinum plans have the most. If you are under 30, you may also be able to buy a high-deductible, catastrophic plan.
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How are the plans different? Each one pays a set share of costs for the average enrolled person. The details can vary across plans. In addition, deductibles -- the amount you pay before your plan picks up 100% of your health care costs -- vary according to plan, generally with the least expensive carrying the highest deductible.

Platinum: covers 90% on average of your medical costs; you pay 10%
Gold: covers 80% on average of your medical costs; you pay 20%
Silver: covers 70% on average of your medical costs; you pay 30%
Bronze: covers 60% on average of your medical costs; you pay 40%
Catastrophic: Catastrophic policies pay after you have reached a very high deductible ($7.350 in 2018).  Catastrophic plans must also cover the first three primary care visits and preventive care for free, even if you have not yet met your deductible.
You will also see insurance brands associated with the care levels. Some large national brands include Aetna, Blue Cross Blue Shield, Cigna, Humana, Kaiser, and United

Health Insurance Companies in Indonesia

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Health Insurance Companies in Indonesia :    Expats can get the best deals and compare the Indonesia health insurance market online with NowCompare.

Click to Compare:        Health Insurance

Expats can compare health insurance companies in Indonesia online with NowCompare and save on the overall cost of their coverage.

NowCompare is the best comparison website for expats that want to find health insurance companies in Indonesia.  It is often stated that NowCompare is the most comprehensive health insurance comparison websit because of the number of insurance plans that are included.

No matter the type of health insurance companies in Indonesia that an expat want to arrange, NowCompare can help them.

When it comes to helping expats get Health Insurance in Indonesia for themselves and their family, NowCompare can give them the complete overview of all the relevant health insurance companies in Indonesia.

Health Insurance Companies in Indonesia :    Save

Expats in Indonesia that want to get Cheap Health Insurance will be able to find the best prices on NowCompare

With all the top health insurance companies in Indonesia and all of the lowest premiums, expats can not go wrong with NowCompare.

Even if Indonesia expats are used to getting quotes through Health Insurance Brokers they will find it so much quicker to compare online with NowCompare.

Health Insurance Companies in Indonesia :    Expats

The expatriate community in Indonesia will have a number of choices when it comes to the type of Healthcare Insurance that they decide is most appropriate for themselves.

They can always select a normal Health Insurance Indonesia which is supposed to be for local nationals in Indonesia, but if they want a comprehensive cover then they will need something slightly different.

The best type of cover in this instance is an Expat Health Insurance which is been tailored and put together with the expatriate lifestyle in mind.

International Health Insurance Indonesia can be found from many of the different health insurance companies in Indonesia and NowCompare can help expats review them all.

Health Insurance Companies in Indonesia :    Compare

Comparing International Health Insurance is so easy with NowCompare and the entire market can be done in just a couple of seconds.

NowCompare will also make everything easier when it comes to Indonesia Health Insurance so much so that expats won't be able to believe how simple the website can actually be.

So when it comes to comparing Health Insurance Companies NowCompare is the first choice for expats in Indonesia.

Health Insurance Companies in Indonesia :    NowCompare

For Medical Insurance Indonesia and getting the best deal on Medical Insurance NowCompare is the most popular way of comparing all of the best Medical Insurance Companies online.

The 8 Best Health Insurance Companies to Use in 2018

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Trying to find the best health insurance can be a confusing process. There are several criteria to keep in mind when you make your decision including financial strength, customer service ratings, claims service, plan prices, policy offerings, coverage benefits, and provider choices. There is no one “best” health insurance company, but the best one for you will depend on the type of health insurance you need, your budget, and what is available in your area.

Many health insurers offer the option of a Health Maintenance Organization (HMO) or Preferred Provider Organization (PPO) Plan. An HMO has its own network of doctors who have an agreed-upon price for the health care services they provide, while a PPO is made up of pre-approved physicians that participate in the network and offer lower costs to members. Most PPO plans will also allow you to access an out-of-network provider for a higher fee.

The region you live in will determine which health insurers you have access to, and coverage options vary from state to state. It can be a daunting process trying to find a health insurer that matches all your needs, but we’ve done the research to come up with a list of insurers that have a good reputation and perform well in the areas of policy offerings and plan choices. These 8 health insurers are some of the best options for health care coverage for 2018.

01  Best for Health Savings Plan (HSA) Options: Kaiser Permanente
Kaiser Permanente
Courtesy of Kaiser Permanente

Kaiser Permanente is a trusted name in health insurance. It offers medical care through its managed care organization and a network of Kaiser Foundation hospitals and medical centers. It has won numerous customer service awards from J.D. Power & Associates and has excellent financial strength ratings. Kaiser Permanente offers health insurance to residents of Colorado, Georgia, Hawaii, Washington, and both Northern and Southern California, as well as those living in the Mid-Atlantic and Northwest regions. Its network includes more than 22,000 participating physicians.

If you live in Kaiser Permanente’s coverage area, you have access to several plan options including classic plans, essential plans, and advantage plans. All plan types offer the option to add a health savings Plan (HSA) option. HSA options have an individual deductible of $5,000 and a family deductible of $10,000. Depending on the plan you choose, you have access to services like unlimited doctor’s visits, no co-pay plans, after-hours care, generic prescription drugs, and online wellness tools.
Private health insurance to rise after government approves premium hike

Private health insurance to rise after government approves premium hike

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Labor has slammed the federal government for giving private health insurers the green light to lift their premiums by an average of 3.25% next year.

The health minister, Greg Hunt, says the rise for the 13 million Australians with private health cover is the lowest since 2001 and will come into effect on 1 April.

“This premium change will see a single person pay an average of $1.14 extra per week and a family on average will pay $2.35 more a week,” he said in a statement on Wednesday.

But the opposition health spokeswoman, Catherine King, said the above-inflation price hike will be a major hit to family budgets and force more people to dump their private health cover.

“Already, Australians are downgrading or ditching their private health cover in record numbers in response to relentless price rises, soaring out-of-pocket costs and growing exclusions,” she said.

Australians dumping private health insurance as prices rise
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Premiums rose by just over 50% between 2010 and 2016, before climbing another 3.9% in 2017.

In its annual review of the private health insurance industry released in November, the Australian Competition and Consumer Commission found more Australians are downgrading or dumping their private health insurance because of rising premiums.

Labor has vowed to slap a cap on big health insurers to restrict their annual premium rises to 2% if it wins the next federal election due in May.

The first of the insurers to move on the government-approved hike was Medibank Private and ahm, which will lift premiums by an average of 3.3%.

The Medibank Private CEO, Craig Drummond, said this was the group’s lowest average premium increase in 18 years.

“Healthcare costs in Australia have been tracking at an average of 4.6% above inflation each year over the past 10 years, largely driven by more frequent and more expensive hospital admissions and a population that is getting older,” he said in a statement.

Private health insurance changes 'will lead to premium hikes'
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The coalition government, meanwhile, has introduced its own reforms, including new rules that allow private health insurers to offer 18- to 29-year-olds discounted premiums, as well as better mental health cover for all customers and benefits for people in rural areas who need to travel for medical treatment.

The government has also set up a new rating system to make it easier for people to choose private health cover.

The minimum hospital treatments covered by the new policy bands – gold, silver, bronze and basic – will come into place in April.

Drummond said the government’s reforms will lead to lower increases in premiums for many customers and offer them “greater choice”.

“The challenge remains as to how we can continue to deliver quality healthcare in Australia at an affordable price,” he added.

Premium changes by providers can be above or below the government average depending on a variety of factors, including coverage type and location.
What is health insurance?

What is health insurance?

Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses.
Insurers use the term "provider" to describe a clinic, hospital, doctor, laboratory, healthcare practitioner, or pharmacy that treats an individual. The "insured" is the owner of the health insurance policy or the person with the health insurance coverage.
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Depending on the type of health insurance coverage, either the insured pays costs out of pocket and receives reimbursement, or the insurer makes payments directly to the provider.

In countries without universal healthcare coverage, such as the United States, health insurance is commonly included in employer benefit packages.

In the U.S., the number of people with insurance decreased from 44 million in 2013 to fewer than 28 million in 2016, according to the Kaiser Family Foundation. The researchers put this down to recent changes in legislation.

A Commonwealth Fund 2011 report informed that one-fourth of all U.S. citizens of working age experienced a gap in health insurance coverage. Many people in the survey lost their health insurance when they either became unemployed or changed jobs.

The level of treatment in emergency departments varies significantly depending on what type of health insurance a person has.

health insurance puzzle
Insurance can seem puzzling, but choosing the right product can be vital for your family's health in the United States.
There are two main types of health insurance:

Private health insurance: The Centers for Disease Control and Prevention (CDC) say that the U.S. healthcare system relies heavily on private health insurance. In the National Health Interview Survey, researchers found that 65.4 percent of people under the age of 65 years in the U.S. have a type of private health insurance coverage.

Public or government health insurance: In this type of insurance, the state subsidizes healthcare in exchange for a premium. Medicare, Medicaid, the Veteran's Health Administration, and the Indian Health Service are examples of public health insurance in the U.S.

Other types
People also define an insurer by the way they administer their plans and connect with healthcare providers.

Managed care plans: In this type of plan, the insurer will have contracts with a network of healthcare providers to give lower-cost medical care to their policyholders. There will be penalties and additional costs added to out-of-network hospitals and clinics, but they will provide some treatment.

The more expensive the policy, the more flexible it is likely to be with the network of hospitals.

Indemnity, or fee-for-service plans: A fee-for-service plan covers treatment equally among all healthcare providers, allowing the insured to choose their preferred place of treatment. The insurer will typically pay for at least 80 percent of costs on an indemnity plan, while the patient pays the remaining costs as a co-insurance.

Health maintenance organizations (HMOs): These are organizations that provide medical care directly to the insured. The policy will usually have a dedicated primary care physician that will coordinate all necessary care.

HMOs will normally only fund treatment that is referred by this GP and will have negotiated fees for each medical service to minimize costs. This is usually the cheapest type of plan.

Preferred provider organizations (PPOs): A PPO is similar to an indemnity plan, in that they allow the insured to visit any doctor they prefer.

The PPO also has a network of approved providers with which they have negotiated costs.

The insurer will pay less for treatment with out-of-network providers. However, people on a PPO plan can self-refer to specialists without having to visit a primary care physician.

Point-of-service (POS) plans: A POS plan functions as a mix of an HMO and PPO. The insured can choose between coordinating all treatment through a primary care physician, receiving treatment within the insurer's provider network, or using non-network providers. The type of plan will dictate the progress of treatment.

Tuesday, May 29, 2018

How much auto insurance do I need?

How much auto insurance do I need?

How much auto insurance do I need?
You want to make certain that your cars are adequately insured. Given your budget and preferences, how do you determine what level of auto coverage is right for you?
While everyone needs an adequate amount of liability insurance by law, state minimums are actually very low, according to Jeanne M. Salvatore, senior vice president, chief communications officer, Insurance Information Institute. “They could be as low as $20,000,” she says – and for most people, this is far from sufficient.
You need to protect the money that you have put away, as well as anything you might own, she says. “Protect your assets - because when you buy auto insurance, you’re basically getting coverage in the event you get into an accident and you get sued,” Salvatore explains. “The liability portion pays for your legal defense and also for the judgments against you.”
Salvatore’s recommendation for most people is to get a minimum “100/300” liability policy, unless one’s assets are unusually high. This means coverage of $100,000 of liability insurance per person and a total of $300,000 liability insurance per accident. Learn more about the cost of car insurance and what factors play a role.

Determining your coverage limits

How much car insurance you should buy depends on what you may have to lose. If you have few assets, the minimum level required by your state may do. However, this won’t be nearly enough for most people, Salvatore warns. “If you have a good job, savings for your retirement or college funds for your kids, you want to financially protect that,” she says. Whatever money you have put away is at risk if you are sued after an accident without adequate coverage. This is especially important for young or teen drivers who are just starting out on the road. 
Salvatore advises individuals to make certain they have a high enough level of insurance to cover their assets. To determine how much auto insurance you need, figure out how much you stand to lose in the event of a serious automobile accident. This may mean supplementing a standard auto insurance policy with excess liability or an umbrella liability policy that will protect you after your underlying coverage has been exhausted.
“What you can do is buy an additional $1 million, $2 million, whatever you feel you need over and above the underlying limits,” Salvatore says.

Auto coverage types to consider

While both excess liability insurance and umbrella  insurance can provide needed coverage, there are important differences between the two. Excess liability raises the automobile coverage limits, while umbrella coverage is broader. An umbrella policy offers an extra layer of liability protection for your assets if you’re in a serious auto accident or if there is a serious accident on your property. Umbrella coverage protects you from liabilities above your current auto or homeowners limits. So, if you buy an umbrella policy, you’re only buying one policy that provides coverage over and above all of your policies, Salvatore explains.
If you are financing the purchase of a new car, you should consider gap insurance, Salvatore suggests, “because the value of the car depreciates quickly.” If the new vehicle is totaled, you may find you owe more than the car is actually worth.
On the other hand, if you have an older car, you may want to reconsider your deductible levels. “You could consider getting a higher deductible for comprehensive and collision,” Salvatore says. Ultimately, it is a question of crunching the numbers for your vehicle and weighing the cost to repair or replace your vehicle against how much the policy will cost.
In the end, whether you have a brand new car or one that has already traveled many miles, you should have the experts help you determine how you can best protect your assets without overspending. Contact your insurance agent to discuss your specific policy limits and adjust your coverage or get a car insurance quote online.

6 common car insurance misconceptions

What affects the price of auto insurance and how big of a role does your driving history play when it comes to insurance? When it comes to understanding how rates are calculated, several misconceptions could be impacting your car-buying decisions. But the fact is, many of them may not be true.
Below you’ll find a list of the major misconceptions and some information to help you make an informed decision about car insurance. 

1. Red cars cost more to insure than other colors

Do red cars cost more to insure? While there’s a rumor floating around that red cars will cost you more, the car’s color is not a factor in how your insurance is calculated. The make and model of a car will affect it, but not the color. 

2. The more expensive the car, the more it costs to insure

The purchase price doesn’t have as much of an effect on the cost of your premium as the repair costs. Some mid-priced cars will cost more to insure than luxury cars because they have a higher loss history, or they might just cost more to repair. Always check with your insurance agent before buying a car to avoid surprises on the new premium.

3. Getting a traffic ticket will automatically increase the price of your premiums

While getting a ticket is never a good thing, if your violation is minor and your record is clean overall, it may not cause an increase in your rates. In fact, in some states you can take classes to reduce or remove the number of points from your license, which will lower your premium. But, remember, your rates can be affected if you have multiple traffic tickets.

4. It’s fine to carry only state-minimum liability insurance

Although most states require drivers to carry a certain amount of liability insurance, that amount is most likely not going to be enough if you have an accident. Buying the minimum means you will pay more out-of-pocket costs if you have an accident, which can run very high. Talk with your agent to determine the right amount for you based on your individual driving habits and financial situation.

5. Your credit doesn’t affect your insurance rates

Many factors can go into calculating your insurance rates, including your age, driving record and history of making claims. So can your credit history, which indicates how quickly you will pay off a loan.
Most states allow insurance companies to use credit scores for setting rates because people with higher scores tend to have fewer accidents. That means they cost less for insurance companies.

6. Comprehensive insurance covers everything

Comprehensive insurance covers a lot, but it's designed for things not covered by other types of insurance on your policy, such as collision or uninsured motorist. You'll need it for such things as fire, weather events like hail and floods, or a collision with an animal. In other words, it's for the damage done to your car in an event other than a collision.

The truth of the matter

There are factors affecting your rates of which you might not be aware. These include the safety features included on your car; when, where and how much your car is driven; and even where it is parked overnight. 
You can also change the rate you are paying with such things as a good-driver discount, a discount for carrying multiple policies with the same company and, for teenage drivers, a discount for being a good student.
The bottom line: it’s always good to check with your insurance agent to see what discounts you might qualify for, and what factors you can control to change the price of your insurance premium.