A poll was released over the weekend showing Americans are less concerned about health care costs than they used to be. Americans are less worried they will lose their health care insurance and less likely, they say, to postpone needed health care treatment. The public option has many Americans reconsidering their current health care situation and deciding that it is not that bad after all given the alternatives.
Don't think insurance companies are that important to the economy? AIG was the largest insurance company in the world and when it almost failed, it cost US Taxpayers over $85 Billion dollars. Its failure was predicted to bring down the US financial system. Now that the economy has stabalized somewhat, some insurance companies are leading the charge with storing stock prices. AIG's stock price, once the company that alsmot brought down the US financial system, is up about 500% since its low last March. Insurance Companies are huge and they can help drive the economic recovery.
Town Hall meetings are turning into armed bar brawls...politicians are comparing each other to Hitler...other politicians are degraded American Citizens speaking their minds...the White House is strong arming Health insurance companies...and Health Insurance Companies are spending millions of dollars on lobbying to mold health insurance reforms to benefit them. With politicians warring with each other and even the public in some cases, will Health Insurance reform cause a class war? Just illustrates how important insurance can be in our society.
Several states are considering raising the minimum amount of liability car insurance required. Most states currently require a minimum of $20,000 in liability insurance with some lower and some higher. Higher limits mean higher premiums. With the recession still in full swing and unemployment still rising, I think the states are making a big mistake. Their intent is to provide more insurance coverage to those injured in auto accidents. But I think it will do the opposite. If the state raise limits, the higher premiums required for those limits will cause some drivers to drop their insurance all together. Therefore, I think the end result of raising the minimum limits will be to increase the number of uninsured drivers.
Simply stated, Health Insurance, also known as
Medical Insurance, pays expenses related to the treatment of
covered illnesses or injuries. However, as with most things,
Health Insurance can be much more complicated than
that. Health Insurance
policies can contain a dizzying array of exclusions, deductibles,
co-pays, coverage limits and treatment restrictions. In this section, we will explain
some of the basics of health insurance. But as always, we encourage you
to ask your health insurance agent questions about your policy.
Currently, most Americans with Health Insurance
get their health insurance through their employers. Health insurance plans offered
through employers are known as Group Plans because your eligibility
is dependent upon your inclusion in a specific Group, in this case
your employer. Group
Plans are very advantageous because you are automatically covered
upon payment of the premiums based on your inclusion in the group
and you cannot be denied coverage because of your past or current
health condition. Many
times, an employer will pay a portion of the health insurance
premiums and the employee will pay the remainder. The percentage paid by the
employer is decided by the employer and can range from 0% -
100%. In addition to
employers, other types of groups can also offer group health
plans.
It is important to remember that employer group
health plans are sponsored by the employer but they are run and
administered by private insurance companies. In the event of a claim, you will
deal directly with the private insurance company that wrote your
health insurance policy, not your employer. In most cases, your employer will
have no decision making ability in whether a claim is paid or
denied.
Many other Americans are covered by Social
Insurance plans.
Social Insurance plans are insurance plans run by the government
such as Medicaid or Medicare. Their benefits and coverages are
determined by the government, not private insurance
companies. They
normally cover certain populations such as the elderly, the very
young, the disabled or the poor. Social plans are paid for
entirely with public taxes and their benefits are government for
local, state and federal governments.
You can also obtain insurance directly from a
private insurance company. But unlike Group and Social plans
which cannot deny you coverage, a private insurance company can
refuse to cover you with a policy if you are already in poor
health. In addition,
private policies are generally much more expensive to obtain than
most group policies.
Therefore, if you have access to an employer sponsored health
insurance plan, that is generally the best and most cost efficient
way to obtain health insurance.
Because health insurance policies can be complicated, we recommend
that you obtain a health insurance agent and together, thoroughly
exam your situtation and decide which health insurance policy or
plan is right for you. If you are looking for health
insurance on your own, below is a list of leading health insurance
companies in your area.
No credit card needed to receive Free instant health insurance quote!
Come Here To Get the Cheapest and best Health Insurance Possible!
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700 Market St, Parkersburg, WV 26101
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