Health-Saving Tips

Health Insurance Tips
Home Business Medical Plans - Find Affordable Small Business Health Insurance
By Marilyn Katz

The only small and home business owners who are not worried about health insurance, usually have some other form of coverage. Some are covered through a spouse's group health plan, and some already have a retirement plan from earlier employment or military service. However many small business owners have made their career out of what they do now, and so they must rely on themselves to provide a medical plan for themselves, and their family. If you do not have employees, you need to look at individual coverage. If you have a couple of employees then you have a choice to make. A small business group plan is a great benefit, and it tends to attract and retain qualify people. However, premiums for small groups are expensive and risky. Since their is only a small pool of people to spread the risk, and since federal law mandates that insurance companies have to accept everybody, expect to pay for a policy! Now you will be able to deduct some of this expense from your business taxes. You can also expect your employees to share some of the cost. Also, remember that employees do like group health insurance as a workplace benefit. So consider this option, but keep in mind, that costs and extra paperwork can be daunting. On the other hand, individual health insurers get to underwrite everybody they accept. Younger and/or healthier people will get a cheaper rate. Older people, or especially those with health conditions, will either get charged more, or they may not be able to get a plan to accept them at all! Of course, every state has some sort of high risk plan for people who cannot obtain their own plan, but expect to pay for this.

Employees must pay for the premium themselves, but some companies will let you pay a list bill. You withdraw the amount from each worker's paycheck. Because you will not have the burden of carrying the plan yourself, maybe you can afford to pay your employees a bit more to make up for it. The advantage for the employees is that their policy is portable, and so they can take it with them even if they leave your company. Another advantage for healthy employees, is that the premium should be lower. However, less healthy employees, may have a hard time, and you should probably consult with an experienced agent for options. Now, if you do not have any employees at all, or if you only employ your spouse, then you must get a family plan. If premiums seem to high, I suggest looking at very high deductible major medical with Health Savings Accounts (HSA). You can offset the deductible with the money in the HSA, and those contributions have tax advantages. Plus, if you retire and join Medicare with any money left in your account, you can add it to your retirement savings without a penalty! I cannot tell you how to find cheap medical coverage, but I can tell you how to protect yourself from the risk of huge bills or having trouble finding the right care while saving some money on your monthly bill.
Important Guidelines For Choosing Your Health Insurance Provider
By Gabriel J. Adams Choosing a health insurance provider can be a daunting task. Although you know you will be happy you have coverage when you need it, insurance is one of those things we all would rather not have to think about. It is important to choose carefully so that when the need for coverage does arise (and yes, it always does) you will be prepared. Here are some of the things to consider when deciding which provider and plan are right for you and your family. Company Health Insurance Your workplace may offer health insurance, and they will generally deal with one provider. This limits your options, but can save you money since these are group plans. This also simplifies the process of setting up your plan since configuration and management of your coverage can often be completed and/or assisted on site at your workplace through your HR department. But again, there are disadvantages of company health insurance. Although it does hold the benefit of saving you money, you might not get the kind of coverage that matches the medical situation of you and your family. Even if you are self-employed there is a plan available to you, through the National Association for the Self-Employed (NASE). Individual and Group Health Insurance Many people are disappointed when they discover that health insurance is either not offered by their employer or that the coverage offered is not well-suited to their individual needs. What people often fail to recognize is that it is possible to choose your own health insurance provider! Most companies offer individual plans and group plans, and you need not go through your workplace to get coverage. Again, you may save monthly by going through your workplace's group plan, but is that worth it if the plan does not give you the coverage you really want or need? Before or during open enrollment at work, do some research online and compare what is offered by plans that you can get on your own. You may be surprised that you can get affordable coverage that is more appropriate for your family's health circumstances. What to Consider When you consider a health insurance provider, consider some of the following questions. Make a list of the answers and compare, and then choose a provider whose answers are best for your particular priorities.
1. How much are monthly premiums? Are these fixed or fluctuating?
2. What is covered: office visits, medications, minor or major surgeries?
3. What types of coverage is offered in terms of medical, dental, and vision?
4. What kind of out-of-pocket deductibles and co-payments might apply?
5. Will you be able to choose your own doctor? If limited to a network, how big?
6. Is an HSA (health savings account) offered? What are the details, if so?
7. Will your children or spouse be covered?
8. Can you cover children without a parent being required in the plan?
9. Are short term plans available?
10. What time commitment are you locked into? When can you adjust your plan?
11. Does the provider offer online setup and management for coverage?

Putting It All Together If you notice any other benefits offered by some companies which are not on this list, start asking the competition if they offer those benefits as well. Get organized, do some basic research, go online, make calls, and take good notes. Finally, review your notes and compare. Follow this process and you will be sure to find affordable and comprehensive coverage to perfectly match the insurance needs of you and your family.


Bobby MobiniPersonal Asset Protection Specialist



Work: 404-697-9197
Email: bmobini@hotmail.com
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