Monthly Archives: May 2012

How Does Insurance Work?

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Its about economy of scale. When you sign up for healthcare coverage, you join a group of other people to combine your healthcare purchasing power. Your insurer covers the whole group, rather than individuals, so everyone shares the cost of staying healthy.-Stay Smart Stay HealthyStay Smart Stay Healthy was created by Edward Batchelor at Humana Inc. as a new-media venture designed to deliver guidance, and to support awareness and understanding of the healthcare industry. His goal was simple: to educate consumers on the healthcare system by removing the usual complexities and replacing them with an informative and engaging series of videos.

Was I hired to stand in the way of health care reform?

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Was I hired to stand in the way of health care reform?

Hi, I’m Andy and I did all the damage I could being a spokesjerk for Blue Cross Blue Shield. Now it’s time to move on to the next hugely irresponsible, profit-driven monopoly. Tell me where I should work next: facebook.com NOTE: You must be logged in to Facebook and be a fan of the Sick for Profit Page in order to leave a message telling us where Andy should work next. Thanks!
Video Rating: 4 / 5

www.regencyhealth.co.uk Award-winning health insurance adviser Brian Walters offers some tips for consumers looking to buy private medical insurance (UK market only). This video is for information purposes only and should not be construed as advice. Private medical insurance is a complex product that is best purchased with individualised advice.
Video Rating: 5 / 5

Looking at health insurance and care over the long term

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Unfortunately the world does not come in strict shades of black and white. You cannot be healthy or ill. There are multiple shades in between from minor symptoms to chronic disability through injury or illness. This creates a problem for the insurance industry. If you have a family saloon car and it’s damaged, repairs are authorized if this is economical. Otherwise, you throw the old car away and use the fair market value check to buy a replacement. This allows the insurers to cap their losses and pitch the premium rates to stay within fixed limits. When it comes to health cover this is something that simply doesn’t work.

When a decision needs to be made on what to do after breaking your arm it will not be to cut it off and replace it or to repair but will instead be to pay for drug companies to control the pain, a surgeon to make the necessary repairs and for a physical therapist to work on improving your mobility. In most cases involving a clean break, the costs will be controlled but, when there’s a compound fracture, there’s a risk of long-term problems. Again, the costs are still not too heavy even though there may be continuing use of physical therapy and painkillers. But once you get into more serious injuries or disease, the cost of long-term care can be uncontrolled and open-ended. This includes both medical and non-medical costs to care for those who can no longer look after themselves.

We take it for granted that we can move freely around the home, take a shower when we feel the need, change our clothes to match our mood, and so on. Depending on the nature of the medical problems, none of these routine tasks may be possible without someone to help. This is not skilled nursing care. It’s something more or less anyone can do. Except there’s a limit to what families will do and so paying someone to come in and help becomes necessary. If you move up to skilled nursing care in the home, the costs rise. Now add in the cost of visits by a physician to review the treatment regime and write new prescriptions. If care in the home is no longer possible, the costs just took off like a rocket because care in assisted-living facilities or nursing homes is very expensive. Although Medicaid will pay for some of this care for older seniors both in the community and in nursing homes, Medicare does not cover long-term care.

In the past, we have looked to the private insurance companies to include long-term care in their health plans or as free-standing policies. But the economics have been changing rapidly as for-profit hospitals and nursing homes increase their charges. A large number of insurance companies have now made the decision to not accept new long-term care business as a part of health insurance plans for individuals as everyone is now living much longer lives.

There’s still access to the cover through group plans for now but, unless something is done to control costs, even this may become unaffordable. Although no one wants to see Medicare expanding indefinitely, it may become necessary for more federal aid to be channelled to this sector. As with flood insurance, this aspect of health insurance needs support or it will disappear from private insurance plans.

Health care in America: Ron Paul vs. Howard Dean

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As the health care debate in the US heats up, RT’s Dina Gusovsky speaks to Democrat Howard Dean and Republican Ron Paul to get a sense of where they stand in the health care battle. Both are doctors, both politicians, and both think they know how to fix health care. But what do the American people really want?

Universal Health Care - Should the USA Imitate UK? PSA Video

Universal Health Care in the UK Explained – Educational Video. Charley has the workings of the National Health Service explained to him. NHS. National Health Service Act. National Health Service Scheme. This item is part of the collection: British Government Public Information Films. Director: Halas & Batchelor. Production Company: Halas & Batchelor. Keywords: National Health Service; NHS. Introduction to the British National Health Service. This is an excellent visual aid for anyone teaching modules on the early NHS in Britain. It’s an entertaining cartoon that provides a thorough introduction to the orignal aims of the NHS. Universal health care is health care coverage which is extended to all citizens, and sometimes permanent residents, of a governmental region. Universal health care programs vary widely in their structure and funding mechanisms, particularly the degree to which they are publicly funded. Typically, most health care costs are met by the population via compulsory health insurance or taxation, or a combination of both. Universal health care systems require government involvement, typically in the forms of enacting legislation, mandates and regulation. In some cases, government involvement also includes directly managing the health care system, but many countries use mixed public-private systems to deliver universal health care. In the 1880s, most citizens in Germany became covered under the mandatory health care system championed by Otto von Bismarck. The …

Robert Cardona LTC Insurance Solutions Inc. Shares Six Factors That can Make a Long Term Care Insurance Policy More Affordable

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Beaumont, California (PRWEB) May 04, 2012

Price is what scares away most prospective long term care insurance buyers. If a policy is designed to insure almost every possible scenario encountered and guaranteed to pay a lifetime benefit, the premium price will be numbingly high. There are ways to optimize a policy, so the premium can be cheaper.

71% of Medicare recipients mistakenly believe Medicare is a primary source for covering long term care. This is according to the recently released results of Genworth’s 2012 Cost of Care study. In reality, Medicare does not cover the cost of most long term care needs and will only pay for about 100 days of skilled nursing care. Afterward, the insured is 100% responsible for the costs. Sadly enough, 87% of people under the age of 65 mistakenly believe their private health insurance will cover the cost of long term care.

The following factors can make a difference when purchasing a policy:

Facility Daily Benefit is the actual cost per day that a policy will cover. It’s a good idea to ask for quotes based on a policy that would cover $ 100 per day, because then it’s easy to determine a higher or lower multiple based on that number.

Facility Benefit Period is the actual length of time that a policy will pay out. The average stay in a long term care facility is about two years, but most people need care for even less. If a lifetime benefit seems too costly, than a five-year benefit should be considered instead.

Home Care Daily Benefit is the percentage of the policy benefit that can be applied to skilled care in the home. This is the favored method for most people, and plans offering 100% of the benefit pertaining to home care should definitely be considered.

Inflation Protection is a benefit that takes future health care costs inflation into consideration. Future costs of health care are expected to rise. This should be a cardinal concern for potential policy holders. If the potential buyer is in their 50s or 60s, compound inflation protection should be considered. If they’re in their 70s or older, the premiums are likely to be extremely costly, so a simple inflation protection or none will reduce the costs of a premium.

Facility Elimination Period is the initial time in which a policy will not pay. Since Medicare will usually pay for the first 100 days, it’s wise to consider an elimination period of 90 days or more.

Marital Discounts are significant discounts for couples who plan on purchasing insurance together. Many insurance companies offer shared policies that offer less underwriting and reduced costs. Research is suggested however. If a spouse has a history of heart disease, this means they’ll have a higher risk of death and should consider opting out. Nonetheless, a spouse with a family history of dementia should strongly consider applying before symptoms occur. Once symptoms arise, that spouse will likely be denied.

If the potential buyer has liquid assets valuing more than $ 2 million, it is suggested that they consider self-insuring the chance of an event This is just as long as their retirement withdrawal rate is not depleting their nest egg. However, if a potential buyer’s net worth is below $ 250,000, an event would consume the nest egg so quickly that paying insurance premiums would be impossible. Although in that situation, Medicaid might qualify them once debility sets in.

What could be the solution to high-priced premiums? It is suggested to only partially insure the chance of a Long Term Care incident. A policy with a reduced benefit like $ 100-150 per day should also be taken into consideration along with a shorter benefit period, such as three to five years. This would still allow some coverage for less.

About Robert Cardona LTC Insurance Solutions Inc. – Robert Cardona, a health care provider for the past 20 years and owner of Robert Cardona LTC Solutions Inc. has a sincere desire to help potential clients plan for in-home or custodial care. By promoting self-esteem through physical and emotional well-being, his understanding of the occupational therapy philosophy is shown. (Padvocacy.net)

Robert Cardona would be honored to serve as the insurance agent of choice when considering the appropriate insurance product to meet every individual’s needs. Robert Cardona LTC Insurance Solutions Inc. offers alternatives to prevent leaving burdens on unsuspecting offspring. These alternatives will ease future financial, physical, and emotional pressures left on friends and family when LTC becomes a medical necessity. This allows harmony and self-confidence that the forefathers of the current generation knew. What was once taken for granted, must now be planned.