Tag: out of pocket expense

Health care reforms will place limits on costs paid by employees

H. Cutner
Health Care Reforms Small Business Health Insurance

Workers may no longer need to fear continuing spikes in out of pocket costs. In the pre-health care reforms environment, it had become a significant trend among small businesses to repeatedly hike deductibles and other costs that their workers were required to pay out of pocket in order to ensure that they would be able to continue to offer medical insurance in as coverage prices continue to rise. Now, the Affordable Care Act will limit the amount of cost that employers will be able to shift to workers. The federal health…

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Cancer insurance provides one of the top financial safety nets in 2012

Marc
Cancer Insurance Quote

As cancer is one of the most common, degenerative, and costly medical conditions in the world today, Many more people are realizing that their standard health insurance alone isn’t providing the complete coverage that they would require to protect their financial wellbeing in the case of a diagnosis, and are turning to supplemental options to fill that gap and ensure the healthy future of both themselves and their assets. Though many cancers are highly treatable, and the survival rates of several forms are soaring even when compared to a decade…

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63 percent of health insurance exchange-using seniors reevaluated their private Medicare plan coverage this year

A study that involved an extended health survey of seniors who bought private Medicare plans through a health insurance exchange showed that 63 percent reevaluated their coverage during the annual enrollment period for 2012 and that among them, 31 percent purchased different coverage. The survey involved the participation of 334 seniors who had previously purchased private supplemental Medicare plans through an insurance exchange. According to the results, the three primary reasons that these seniors decided to reevaluate their health insurance coverage were: • Because they had experienced an increase in…

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Some preventive tests may be covered under new healthcare overhaul, others are not

Julie Campbell

Though many preventive tests –colonoscopies, for example – are covered by the new healthcare reforms, patients are still being urged to understand various loopholes that still exist, where supplementary insurance can help to prevent unexpected expenses. For instance, though a colonoscopy – a preventive colon cancer screening test – may be covered, if its practice should involve an additional procedure, such as the removal of a noncancerous polyps during the test (which is a very common practice), that additional work is considered to be a procedure and is no longer…

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Health insurance survey shows many continue in an uphill battle against medical bills

Marc

A recent study found that in 2010 there was around 40% of Americans claiming financial hardship with paying medical bills. In 2005 it was 34%, thus presenting a 6% rise in just 5 years. An easy problem to pick out for increased spending would be the lack of insurance coverage, but Patricia Herman, an economist at the University of Arizona, says that financial ruin caused by an injury or illness may not be prevented by health insurance.  A study was conducted and can be found online in the August issue…

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