Travel insurance is a short term or temporary insurance that, depending on the terms of the plan you choose, can provide coverage for the medical and financial expenses due to sickness, accident, loss or damage of luggage during traveling. Travel insurance serves a varied clientele such as students, businessmen, leisure travelers, adventure travelers and many others. There are three important types of travel insurance. Read more »
Do you ever feel like you know just enough about health insurance to be dangerous? Let’s see if we can fill in some of the gaps with the latest info from health insurance experts.
Health insurance is something that most people don’t think about very often and yet it is something that when comes foremost to mind when a loved one is sick. Health insurance coverage varies across the world, even across the different states in the United States of America.
With the country deep in a nasty recession, it should come as no surprise that new statistics show roughly 64% of those soon to retire won’t have enough money saved to maintain their lifestyles.
When you retire, you have expectations of being able to do pretty much what you want to do. But what if you don’t have enough money to do that? What if your standard of living dropped instead, to a level you never imagined was possible?
If you don’t have medical issues, things might be just dandy. However, with the advent of better technology, we are living longer. Living longer may well mean some type of long-term care. While this may be a reality, there are a lot of couples that are not prepared financially to pay that kind of expense out of their pockets. This is where long-term care insurance comes into the picture.
Health insurance, though a simple term, consists of a plethora of types which provide you with a wide choice range. Whichever plan suits you becomes your policy. Here we attempt to brief some basic and affordable health insurance plans for your reference:
Indemnity plan- this plan is based upon a predetermined fee and the doctors and physicians under which you are supposed to avail treatment care. Before availing any such service, you have to pay a handsome deductible amount and the time of service will also be determined by the insurance provider. However, at the time of expenses, the bill will be settled by the company on your behalf.
Health maintenance organization- this plan is covered by a full fledged and self maintained network of physicians and specialists. If you go outside the network, you deny yourself of the facilities of the policy coverage. They will put you under a physician who will refer you to specialists in particular cases. Such plan usually has low costs and satisfies the basic premise of a low cost health insurance policy.
Preferred provider organization- it is similar to the above plan, just the difference that it contains a deductible amount and no network of physicians, so you become eligible to all the facilities, no matter you go to which doctor or specialist. However, it does not come under the ambit of cheap health insurance.
Point of service plan- it is a combo pack of the above two and contains the positive points of both. Network of specialist, less deductible and low cost treatment on going outside the network are some of the important features.
Health savings account- it is like a bank account where you deposit a monthly sum and the maturity amount can be used only for medical purposes. It is for those who wish to make provision for future, like old age savings.
Travel insurance is a relatively new commodity that became popular only towards the end of the 20th century. The current estimate of the cost of travel insurance range between 5% and 8% of the total travel cost.
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