Most health care consumers will ask, “What does my health insurance cover?” A good follow up question would be, “When does my health insurance cover that?” Many insureds have received denial letters and not understood why their claim was denied.

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An unfortunate trend, although not one that is terribly prevalent, that MyInsuranceExpert.com has observed from its clients is the termination of a health insurance policy as a result of insufficient payment for the premium. This is always disheartening to see since the clients signed up to protect themselves from financial ruin, and now are walking around unprotected and uninsured. Because of our Advisors’ commitment to their clients we are typically able to find them a new policy. However, I want to stress the importance of finding a plan that not only addresses what you are looking for in coverage, but more importantly your budget.

Read the full post on Buy Health Insurance You Can Afford.

As a result of our nation’s struggling economic times, there is no doubt that the importance of having local low-cost health clinics is on the rise as people lose both their jobs and their health care. Understanding this growing need, the nation’s stimulus bill has allocated $2.5 billion to help finance free and low-cost health clinics.

Read the full post on Stimulus Package Impacts Health Clinics.

Flexible spending accounts are utilized today by people looking to pay for various medical expenses, and function in a similar fashion to Health Savings Accounts (HSAs). A major difference however is that FSAs are only available through group/employer health insurance plans.

So how does a FSA work?

FSAs allow employees to allocate a specific amount of their yearly earnings at the beginning of a year into an account used for medical expenses. A nice feature about FSAs is the fact that they are essentially prefunded. What this means is that although you contribute small amounts from you paychecks each month, the entire fund will be available from the first day the FSA is put into force. Furthermore, you also get a tax break on the money in your FSA because it is not subject to payroll taxes.

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When selecting a health care plan it is important to understand and choose the right network of health care providers that fits your needs. Both HMOs (Health Maintenance Organization) and PPOs (Preferred Provider Organization) offer access to quality health care professionals. So what are the major differences between to the two networks?

HMOs:

HMO constitutes an organization of health care providers contracted with insurance companies that offer services at a fixed price. With an HMO, health care providers cap the patients they see in an effort to provide better service to their client base.

Read the full post on The Difference between HMO and PPO Health Insurance Plans.