Tuesday, June 22, 2010
Survey: Individual Health Insurance Premiums Jump - ABC News
Survey: Individual Health Insurance Premiums Jump - ABC News: "- Sent using Google Toolbar"
Survey: Individual Health Insurance Premiums Jump - ABC News
Survey: Individual Health Insurance Premiums Jump - ABC News: "- Sent using Google Toolbar"
Monday, June 21, 2010
Avoid this common and costly self-employment health insurance error
by Alston Balkcom
in Insurance / Health Coverage (submitted 2010-06-17)
If you are a new business owner and need medical care insurance coverage, you probably have several alternatives and it may be hard to choose which choice is best for you. You may have the option of keeping your COBRA coverage from your most recent job, you may be able to get coverage through your spouse's employer, you may be able to get health insurance on your own as an individual and you may have the option of buying coverage through your business.
The biggest error you can make is to believe that all of the choices are equal or nearly so. Often a newly self-employed person will accept their COBRA option or the options offered through their spouse's job and never look around to see if they could get a better price or policy. This is understandable. It is hard to start a business and taking the easy way out regarding your medical insurance allows one to devote more time to other business-related decisions.
As understandable as this is, it is a mistake because it can be very costly. The most pricey alternative available that will cover you well will more than likely cost twice as much as the least costly choice.
Each alternative listed above has its pros and cons. For this reason, the best choice for you may not be the best choice for someone else.
Accepting the COBRA choice from a previous job has the advantage of allowing you to stay with your present policy. It also requires the least amount of paperwork and no medical questions.
There are, however, two major drawbacks. The first is that the policy is only good for a short period of time. This means that when your COBRA eligibility ends, you will need to find another health insurance policy. If you have an accident or develop diabetes, cancer or another major illness between now and then your alternatives for other contracts may not be as good as they are today. The second drawback is the likelihood that this option is one of the more costly choices.
Another choice you may have is to get your health care insurance through your spouse's place of business. This can be a good option. However, many employers are now only subsidizing the cost of their employees' medical care coverage and not the cost of their employees' dependents insurance. This can result in a higher cost than you might get from one of the other options.
Another problem with purchasing coverage through your job's plan is that your coverage will end when your spouse's employment does. It can also end if his or her job decides to stop offering health insurance coverage to its employees.
Buying coverage through your business is another option. However, do not expect a group insurance discount. Group insurance costs more than the typical policy you can get on your own. The reason for this is that group insurance contracts typically have to take all comers. This forces the insurance company to charge more for these contracts than a policy you can buy on your own.
The best option for most people who have one-person businesses is to purchase a medical insurance policy as an individual or as part of a family plan. If you have medical issues that prevent your purchasing a policy on your own, one of the other options will more than likely be better for you. However if you are in good health, you will more than likely be much better off with a policy you purchase as an individual.
About the Author
You can find both business health insurance prices and life insurance quotes on the author Alston J. Balkcom's website.
in Insurance / Health Coverage (submitted 2010-06-17)
If you are a new business owner and need medical care insurance coverage, you probably have several alternatives and it may be hard to choose which choice is best for you. You may have the option of keeping your COBRA coverage from your most recent job, you may be able to get coverage through your spouse's employer, you may be able to get health insurance on your own as an individual and you may have the option of buying coverage through your business.
The biggest error you can make is to believe that all of the choices are equal or nearly so. Often a newly self-employed person will accept their COBRA option or the options offered through their spouse's job and never look around to see if they could get a better price or policy. This is understandable. It is hard to start a business and taking the easy way out regarding your medical insurance allows one to devote more time to other business-related decisions.
As understandable as this is, it is a mistake because it can be very costly. The most pricey alternative available that will cover you well will more than likely cost twice as much as the least costly choice.
Each alternative listed above has its pros and cons. For this reason, the best choice for you may not be the best choice for someone else.
Accepting the COBRA choice from a previous job has the advantage of allowing you to stay with your present policy. It also requires the least amount of paperwork and no medical questions.
There are, however, two major drawbacks. The first is that the policy is only good for a short period of time. This means that when your COBRA eligibility ends, you will need to find another health insurance policy. If you have an accident or develop diabetes, cancer or another major illness between now and then your alternatives for other contracts may not be as good as they are today. The second drawback is the likelihood that this option is one of the more costly choices.
Another choice you may have is to get your health care insurance through your spouse's place of business. This can be a good option. However, many employers are now only subsidizing the cost of their employees' medical care coverage and not the cost of their employees' dependents insurance. This can result in a higher cost than you might get from one of the other options.
Another problem with purchasing coverage through your job's plan is that your coverage will end when your spouse's employment does. It can also end if his or her job decides to stop offering health insurance coverage to its employees.
Buying coverage through your business is another option. However, do not expect a group insurance discount. Group insurance costs more than the typical policy you can get on your own. The reason for this is that group insurance contracts typically have to take all comers. This forces the insurance company to charge more for these contracts than a policy you can buy on your own.
The best option for most people who have one-person businesses is to purchase a medical insurance policy as an individual or as part of a family plan. If you have medical issues that prevent your purchasing a policy on your own, one of the other options will more than likely be better for you. However if you are in good health, you will more than likely be much better off with a policy you purchase as an individual.
About the Author
You can find both business health insurance prices and life insurance quotes on the author Alston J. Balkcom's website.
Why buy from an independent agent?
by Al Shiebel
in Insurance / Health Coverage (submitted 2010-06-17)
Have you ever had a car break down on you? Then you open the hood, look inside and still do not have a clue on what to do? Yet you poke and prod things in there that you think might help, get your hands dirty and still do not know what is going on.
That is the same feeling that many folks have when considering insurance services. They look online, read, get advice from their financially savvy unemployed brother in law and then they go for what they think it is best. All that without seeking help from a professional.
That is why; you should seek the advice of an independent insurance agent. Why independent you ask? An independent agent will be contracted with several carriers and does not have to make a quota by selling you their most profitable product.
Ask questions on their expertise. Agents are like attorneys who have lots of specialties, for example an agent who sells car protection may not be informed on health insurance and vice versa. Although many agents take time to educate themselves, do not take for granted that they are.
An insurance agent is a person who by law has to take at least 15 hours per year of continuing education courses to keep up with the industry. Three of those credits must be in ethics. An insurance agent should ask lots of questions and give you choices. If you feel pressured to make a decision right then and right there, my only advice is to run as hard to the opposite direction with your arms above your head while screaming "run away, run away".
When a person is purchasing insurance, they should know and feel that they have made a good decision, all their questions were answered and various options were carefully considered.
About the Author
Al Shiebel is a contributing author of Health Insurance in Georgia and associated with reputed Life Insurance Georgia. He has a thorough knowledge and experience on Life Insurance Georgia and has provided.
in Insurance / Health Coverage (submitted 2010-06-17)
Have you ever had a car break down on you? Then you open the hood, look inside and still do not have a clue on what to do? Yet you poke and prod things in there that you think might help, get your hands dirty and still do not know what is going on.
That is the same feeling that many folks have when considering insurance services. They look online, read, get advice from their financially savvy unemployed brother in law and then they go for what they think it is best. All that without seeking help from a professional.
That is why; you should seek the advice of an independent insurance agent. Why independent you ask? An independent agent will be contracted with several carriers and does not have to make a quota by selling you their most profitable product.
Ask questions on their expertise. Agents are like attorneys who have lots of specialties, for example an agent who sells car protection may not be informed on health insurance and vice versa. Although many agents take time to educate themselves, do not take for granted that they are.
An insurance agent is a person who by law has to take at least 15 hours per year of continuing education courses to keep up with the industry. Three of those credits must be in ethics. An insurance agent should ask lots of questions and give you choices. If you feel pressured to make a decision right then and right there, my only advice is to run as hard to the opposite direction with your arms above your head while screaming "run away, run away".
When a person is purchasing insurance, they should know and feel that they have made a good decision, all their questions were answered and various options were carefully considered.
About the Author
Al Shiebel is a contributing author of Health Insurance in Georgia and associated with reputed Life Insurance Georgia. He has a thorough knowledge and experience on Life Insurance Georgia and has provided.
Wednesday, June 9, 2010
Tuesday, June 8, 2010
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