The Importance of Good Records

Keeping your own records of any medical care that you and your immediate family have received is the only way to be sure that your insurance and bills are free from mistakes. It may seem unimportant now, but later in life when you try to get life insurance or get treatment that is appropriate for you, the importance will be in the spotlight. Everything from your allergies to your payment records with medical facilities can hurt you if they are wrong in your report. You could be given improper treatment or even denied treatment at all. By keeping your own records, you can dispute anything that is false.

Would you believe that you could be denied a job because of something erroneous on your medical records? It is true; if you are reported to have a disability, whether it is true or not, you could be turned down. You would be labeled as a risk, especially if the company offers insurance; they would know that you are going to cost more money to employ. The same goes for applying for health insurance where your medical records show that you would require prescription drugs, doctor visits, and increased chance of emergencies. It is quite the ordeal if you do in fact have a disability, but imaging if you did not have one at all-you would be turned down for insurance, while also being completely ineligible for disability financial help.

An example of a mistake that could be made on your record would be a diagnosis error. Perhaps you request that your doctor check a suspicious lump in your breast. On the first visit he may suspect that it is cancer. Most people will get a second opinion or go for a more thorough conclusive examination. If the second doctor decides that it is only a cyst and has it removed, your personal records would show that you are cancer-free. However, if this visit was documented incorrectly, or not at all, you may have trouble getting insured and not know why. If you had a record of the second visit that found the cyst, this situation would be easily disputed and your record would be accurate.

Human error is simply a part of life, even on medical documents. It is important to always keep your own records so that insurance companies get accurate information about you and your health condition. If you are being turned down for insurance and do not know why, you are best advised to be sure that you are not being misrepresented within your medical records. This problem can be cleared up quickly and easily if you are responsible enough to keep your own personal records.

The Basics

Health insurance, in this modern world of cancer,

heart disease, AIDS, diabetes, asthma, ageing and

other diseases and afflictions, it is essential to

have some sort of health insurance.

There are many levels of health insurance coverage

available; unfortunately, like most things in life,

you get what you pay for, and good coverage can be

very expensive.

The two most common terms in referring to health

insurance are premium, which is the amount paid for

the insurance, and deductible, which is your

out-of-pocket expense before the insurance pays your

provider.

For instance, you might pay $300 premium per month for

family coverage, and your deductible might be $250 per

person, which means if you fell and broke your ankle

and went to the hospital emergency room, you would be

required to pay the first $250 of the bill.

You can purchase very basic catastrophic coverage,

which would carry a very high deductible and the

premium would be less than comprehensive coverage

which would have a higher premium and lower

deductible.

It pays to invest the time to investigate various

insurance options, taking into consideration your age,

your general health and the health of your family

members.

Your employer may offer group health insurance, which

is most likely the least expensive option for you, and

usually the premium is deducted from your paycheck.

Health insurance is a calculated risk; can you afford

the premiums or are you willing to risk that you would

pay less out of pocket for medical expenses in a year

than the premiums would cost? Consider carefully.

The Importance of Keeping Good Files

As in everything that involves money, it is important

to keep good records of your medical expenses for many

reasons.

Keeping track of deductibles, especially for a family,

can be time consuming, but is an important task. Every

policy has different deductibles for lab work,

hospital emergency room visits, hospital stays, doctor

visits and x-rays, and it is often difficult to track.

Keeping track of your out-of-pocket expenses becomes

very important when it comes time to complete your

taxes. It also comes in handy to know what your

expenses are for medical care when choosing to change

companies or policies.

A file folder that includes a copy of the policy,

copies of your medical bills and copies of what your

insurance company has paid on those bills is usually

all you will need.

When a bill comes for a provider, you will usually

receive a statement from your insurance company

showing what portion of the bill they paid, and many

times providers write off the remainder, if it is not

a large sum.

If you visit several doctors, you may want to have a

file folder for each doctor or provider.

Insurance companies do occasionally make mistakes, but

they are usually on top of their game. Having a copy

of the policy handy makes it easy to check deductible

levels and whether a particular service is covered or

not.

It also serves as a ready resource for telephone

numbers, website information and your contact at the

insurance company.

Traveling Alternative Roads: Other Options for Health Care

Health insurance can be expensive if you are not lucky enough to have it provided by your employer. Even shopping around for the best quotes may not be within your budget. Luckily there are alternatives to health insurance that you can take advantage of so that you and your family will be safe even if an emergency situation comes up. You can apply for the prescription discount card program, which is a low monthly cost and works at most of the of corporation drug stores that we all use. There are also programs that give you health care but are not considered "health insurance".

The prescription discount card is great for anyone who has regular prescriptions that need to be filled over a long period of time. The cost of prescriptions without insurance is high and always rising. If you cannot afford health insurance, there is no way that buying these full priced prescriptions will come without difficulty. You can enroll in a discount card program on the Internet or you can call around to try and find one locally. The reported savings for each person is estimated to be at least 50%, and some programs will enroll you for under $5 a month. 

Health care programs are another popular alternative to expensive health insurance. BeniCard, for example, is a highly acclaimed health care program, and for a small monthly fee, you can have your immediate family covered. You will not be turned down because there is no limit to who is eligible, even if you have a pre-existing condition. It is not health insurance, but you will be able to save money on doctor visits, vision and hearing care, dental services, and prescription drugs. This is just one of the programs that can help you if you cannot get health insurance due to expense or because you have been turned down due to an illness.

No one should go without health care of some sort. Prescriptions are extremely costly without insurance, and if you or someone in your family has an emergency health situation, you could be left with a large debt for years. Insurance companies are hesitant to accept anyone with a pre-existing illness because it will definitely cost them plenty of money. For anyone who has been turned down for health insurance or simply cannot afford to pay a deductible, health care programs and prescription discounts are a low-cost alternative that could save you money.

Value Your Health-Buy Insurance

Many feel that health insurance is a waste of money. These people are often quite healthy and have no need to see their physician beyond yearly check-ups. However, health insurance is extremely important because it not only offers you protection from harmful illnesses or diseases and creates a better quality of life, but it can protect you from financial devastation in the case of an emergency.

One of the most crucial reasons to have health insurance is to cover the costs of medical bills - emergency or non-emergency. Without health insurance, you may be tempted to not see a doctor about medical issues you have, or you may assume that they are not serious. Both of these options are harmful and unwise as medical issues will often progress and become worse over time. 

Insurance is often about ensuring you are covered in an emergency situation. For instance, you carry automobile insurance so that if you ever get into an accident, you will not be responsible financially. Health insurance works in much the same way, but it is also used to cover basic medical expenses and sometimes even preventative care depending upon your insurance provider. This can increase or improve your quality of life by allowing you to be proactive in your health care instead of simply reacting to medical issues that may arise. 

Furthermore, the costs of medical procedures and consultations have increased with time. Even a routine outpatient procedure, like the removal of gall bladder stones, can be a costly medical expense. Even a short visit to a specialist for diagnosis can be extremely expensive. Emergency medical issues or the development of possibly fatal or debilitating illnesses are one reason to have health insurance. The expenses to treat these medical issues can cost hundreds of thousands dollars and pull you into a financially disastrous situation. With late fees and minimum payments, you may never be able to pay off your medical bills, and hospitals and doctors will often send collection agencies after you. This is not only inconvenient, but can also can ruin your credit and make it impossible to rent an apartment or buy a car.

As you can see, health insurance is very important. It will not only improve your quality of life and ensure that you are in top-notch health, but it can save you money in the long-run. When you consider what in your life is most important, your health has to be on the top of the list. If you protect your possessions or your home with insurance because of their value, then you should insure your health as well. After all, isn't your health valuable too?

Ways of Paying for Health Insurance

When it comes to health insurance, many people don't exactly know everything that there is to know about the subject. That only stands to reason, it is not something that is easily understood because of its complexity. For instance, when you visit the doctor you may be asked to pay something that is called the "co-pay", and other times you may not have to do anything at all depending on your plan. Let's look at some of the ways that health insurance is paid for.

Often times, your employer will sponsor your insurance and you only have to pay what is known as a "co-pay" or co payment. The co-pay is a set amount that is determined by your insurance company when you receive covered services. This is a significantly smaller fee than you would be paying without the co-pay. Many companies offer this type of payment option because it is easier on the employee to pay this way.

You may consider opening what is known as a Healthcare Savings Account (HSA). This will assure that you always have a location in which to retrieve payments for various medical expenses. The HSA is a pre-tax savings account where a portion of your pre-tax income, determined by you, is deposited into an account automatically. Since this account comes from your paycheck pre-tax, that means it will lower your overall taxable income. This means you are saving money in terms of taxes and saving lots of money towards your overall health care costs.

For certain disabled individuals and those above the age of 65, Medicare is also another way to pay for health insurance. While they will not pay all of your healthcare expenses, they will pay for most of them. Medicare, however, doesn't cover prescription drugs and nursing homes. It is important that you check the different types of restrictions that may apply. There are low-cost prescription discount cards that have been proven to save people who require costly medications on a regular basis over 50% of what they would have been paying without any health care.

Paying for health insurance doesn't have to be complicated as long as you understand just what is going on in terms of where you stand with your plan. Discuss any questions you may have about the plan before committing to one. While one plan may be right for many people, it does not always mean that it will fit your specific needs. 

What are HIPAA Laws?

Your visit to the doctor now contains a page where you sign that you acknowledge that the physician's office has notified you about their compliance with HIPAA laws. More often than not, you probably read through quickly or barely skim the authorization form before signing it. However, HIPAA laws are important, and they are in place to protect you from identity theft, being denied care, and/or health insurance coverage.

HIPAA stands for the Health Insurance Portability and Accountability Act, enacted in 1996. HIPAA laws created a new national standard in protecting your health information. As you see different physicians or become admitted to different hospitals, your health information should follow you. HIPAA delineates the need to properly protect your health information as it flows through to these different channels. As more and more transactions are completed electronically these days, HIPAA laws focus on the protection of your health information specifically through these channels.

So what does HIPAA protect? For you, HIPAA protects personally identifiable health information, such as your Social Security number, birth date, address, etc., as well as current, past, or even future physical and/or mental conditions or treatment. Such information may not be disclosed except for specific uses. Information that HIPAA does not cover must specifically be personally non-identifiable. In protecting this sort of information, there is more protection against identity theft and more recourse if such a thing should happen. 

HIPAA also protects how health insurance providers may use your health information. These entities may use your information without your authorization only if they are sending you information, using this information to provide the best treatment or health care, or collecting payment on medical expenses, among other things. If disclosure of your health information does not fall under these categories, you must authorize the transfer of information in writing. Furthermore, because the government understands that highly technical language can be a barrier in understanding your health information privacy rights, any authorization must be in plain language.

This may all seem like unnecessary paperwork, but beyond identity theft, HIPAA laws also help those looking for health insurance coverage. Title 1 of the HIPAA laws oversees the availability and range of health insurance plans for those without perfect health. It outlaws any health insurance plan from creating discriminatory rules to create premium rates or deny coverage. HIPAA laws are quite extensive, but this gives you a look at how your health information is being protected and used. Your department of health should be able to give you further information, or you can search the government's Web site for the entire HIPAA law.

What Happens When I Retire?

Health insurance considerations weigh heavily on the

minds of people wanting to retire before Medicare

coverage kicks in at age 65. Many people put off

retirement simply because the cost of an individual

health insurance policy is too great on a limited

income.

What options for health insurance do you have if you

choose to retire before age 65? Although they are not

required to, you may be able to get COBRA-like

coverage from your employer.

As an added retirement benefit, your employer may

allow you to pick up the premium on your policy;

although paying 100% of your premium may initially

appear to be an expensive option, purchasing an

individual policy apart from a group may be even more

costly and not provide you with the level of coverage

you previously had.

Some companies are offering basic high-deductible

insurance reasonably in the hopes that they will be

able to enroll you in Medicare Part C (supplemental

insurance) when you retire.

Another option is to budget and save money to cover

your anticipated medical costs for the time period

between retirement and age 65. If you are in very good

health, this may be a viable alternative for you.

Pre-planning for retirement is an important issue; the

earlier you start planning, the better. Realizing the

Medicare does not pay all of your medical expenses,

you should budget money for medical expenses even

after retirement.

What if I leave my job?

The Consolidated Omnibus Budget Reconciliation Act

(COBRA), a law created in 1986, gives workers (and

members of their family) who lose their health

insurance benefits the right continue their group

health insurance for a limited period of time under

circumstances such as voluntary or involuntary job

loss, reduction in hours, transition between jobs,

divorce, adoption and death.

Generally, the employee pays up to 102% of the premium

cost for the same policy; this is still usually less

expensive than buying an individual insurance policy.

There are three basic aspects for qualifying for

COBRA: the qualifying event, the insurance plan

coverage and the qualified person.

Each aspect is taken into consideration when applying

for COBRA and you must elect to either apply for COBRA

or waive your rights to COBRA within 14 days after a

qualifying event.

You must also have been in the group insurance plan

during your employment to be eligible. Although there

are exceptions, generally you may continue to pay your

own premiums to keep COBRA coverage intact for up to

18 months.

Companies who have fewer than 20 employees, State or

Federal employers or employee organizations may not

offer COBRA coverage.

Check with your health insurance administrator to see

if you may qualify. You may also have this information

readily available in your group health insurance

policy or in your company handbook.

Although it may be expensive, the cost of being able

to keep your group insurance coverage rate may be well

worth it.

What You Don't Know Can Kill You: Health Insurance Limitations

Health insurance often requires a mountain of paperwork that has a lot of fine print. Unfortunately, this means that few people read their plans thoroughly nor do they fully understand what their plan covers or does not cover. Here are some common limitations in health insurance coverage that you should know.

Some of the most shocking health insurance limitations are found in the the fine print holes in the insurance policy. For instance, many people have found that their health insurance did not cover a routine or necessary medical procedure because they did not receive an authorization code prior to the procedure or the hospital did not correctly fill out the paperwork. Your medical claim can be denied simply because the hospital used odd codes for your treatment. While any claims denied by the insurance company can be disputed, this process is not only tedious, but time-consuming and draining, especially for someone who is already ill. There is also little success in winning disputed claims, which makes this option rather limiting.

Another surprising health insurance limitation happens more often than people realize. Imagine this situation: you are diagnosed with a medical condition and need an operation. You research surgeons and hospitals within your plan. You understand your plan's coverage of hospital care. You have your operation and then you find a massive medical bill in the mail. Apparently your health insurance did not cover the anesthesiologist or other specialists that may have consulted in your operation. Thus, you have to pay these specialists for their services, even though you were under the impression that your plan would cover these costs associated with the surgery. Such a bill can be in the thousands of dollars, and there is little you can do to dispute the charges. The only way to avoid these charges is to make sure that you ask before the operation who will be involved and ensure that they are covered in your health insurance plans.

Other limitations are put on a number of treatments. For instance, you may need physical therapy or visits to a psychiatrist. Many health insurance plans will put a limit on the number of covered visits for such medical treatment. Without realizing it, you may surpass the maximum visits allowed by your health insurance and end up racking up huge bills.

Many people think that buying health insurance will cover them medically, but this is only correct to a point. When securing insurance, you should read through your health insurance package carefully, and when you are about to undergo any expensive medical procedure, be sure to consult your health insurance plan first.