Archive for February, 2010

Health Savings Accounts Not for Everyone

Health Savings Accounts (HSAs) are great for some people, but not others. The major issue seems to be whether contributions would even be made.

It was 2003 and Health Savings Accounts (HSAs) hit the health insurance industry with a big fanfare. “Right away some thought they were wonderful and others thought that while they looked good on the surface, they just would not work well for everyone. They were touted as the best thing since sliced bread as far as helping people save for tax-free qualified medical and retiree health expenses,” Evan Tunis of Florida Health Care Insurance, Delray Beach, Florida, pointed out.

Having a tax-free advantage is a good thing in this day and age, but what other information do people really need to know about HSAs? Much of the basic information people wanted to know about this alternative way to save money for Florida health care expenses got lost in favor of other points. “People didn’t feel they had enough information about HSAs to make informed decisions. The truth of the matter is even though HSAs have been around since 2003, there aren’t a lot of people who get how they work, which is a drawback if they want to find a way to save money for medical expenses,” added Tunis.

Interestingly enough, the most crucial question Americans wanted answered was if they ought to be opening an account in the first place. Statistically speaking, some individuals are just born savers, others are born spenders, and still others couldn’t manage money if their lives depended on it. “Opening a savings account wouldn’t make sense for people who don’t understand how to manage money or who spend it before they get it. It wasn’t much of a surprise that the merits of HSAs just fell on deaf ears for the unconvinced stragglers in the crowd,” Tunis said.

Basically, having a Health Savings Account is all about the smart financial move of saving money for the future to pay for medical expenses. Everyone will have medical expenses at some point in their lives, and rather than get caught having to pay out-of-pocket, if they have something saved aside, they’re taken care of by using their HSAs.

“If people have trouble saving money for the future, particularly for a health savings account, this could mean they become another statistic among the numbers of uninsured Americans. If they opt to pay monthly premiums, that would be a different story. However, that is the thing about HSAs; if they are not something a person would choose freely because it works for them, they do have other options which can be outlined by a qualified insurance agent,” Tunis commented.

For instance, some other options may be more preferable for people who don’t or can’t save – such as a Co-Pay Plan, or even Small Group Medical. Talk to a local Florida health insurance agent to find a plan that works with any budget, as not having health insurance is a risky option.

To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Thursday, February 11th, 2010 Press Comments Off on Health Savings Accounts Not for Everyone

US Health Care Confusing and Costly

The US health care system is so confounded confusing largely because it is managed by a variety of legal entities. Where there is confusion, there are wasted tax dollars and increases in health care expenses.

This won’t come as much of a surprise to a whole lot of people, but the US health care system – despite its possible revamp – is in such a mess it’s not easy to understand what is going on. While most people “get” that their medical care is going up and up, they don’t get “why” it’s so high. The actual problem happens to be that there are way too many people and entities trying to run the system and the upshot is no one is doing a good job.

“US health insurance is privately run, privately priced, and a private business. Most large insurance companies therefore have a bottom line to deal with, and that means watching their finances. Smaller insurance companies have more room to be human, treat customers with respect and dignity, and offer people reasonable prices,” commented Evan Tunis of Florida Health Care Insurance, Delray Beach, Florida.

Of interest is the statistic that the US spends more health dollars than “any” other nation in the world. This could be viewed two ways: good because the system is top-notch and bad because it’s way too expensive. The actual amount usually tossed around in the papers is based on the dollar outlay as being part and parcel of the GDP and on a per person/per capita basis. Since our health care costs are so high, that should immediately let people know there is trouble on the horizon. If health care is this expensive now, what will it be in few years from now, reform or not?

These health care statistics are not just numbers picked out of the air and run up the flagpole to see if someone will salute. They are actually based on the overall good (or bad) health of the general population. Check out the most recent stats for health care spending in 2007 ($2.26 trillion or $7,439 per person). That means health care spending was about 16% of the GDP. Americans are obese and by 2017 health care gurus predict health care spending may be close to 20%.

These figures are not exactly encouraging and in fact are downright depressing. The health system is overwhelmed now. In 2017, with the extra burdens of the baby boomers coming of age and obese and addicted Americans beginning to have serious health problems, a system under strain is a system that gives out when it’s needed the most.

Americans ultimately are responsible for their own health; the system is not. Until many people realize that their personal choices dictate their medical conditions, the health care system and trying to get reasonable health insurance is going to continue to be difficult.

Being fit will affect a health insurance quote positively. It’s up to everyone to make a difference in their life for their own health.

To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Monday, February 8th, 2010 Press Comments Off on US Health Care Confusing and Costly

What’s the Best Choice for Health Insurance in the US?

Health care discussions abound these days and people want to know what the best choice is for health care. This is a tough question, but research will generally provide the answers.

While budget may be a four letter word in your house these days, it is still a daily reality in the 21st century. We’re facing tough economic times and all around us things are getting more and more expensive, like health care. This of course makes it difficult to find the right health insurance plan that will fit your personal budget. If you’re faced with trying to make ends meet and needing to get health insurance, start by first figuring out precisely what you need. Don’t guess, or you might wind up with something you don’t need.

Start first with the assumption that you are just getting health insurance for you. If you need family coverage, then make adjustments based on what you do for a single health insurance plan. So the first thing you would likely do is go for what works for you. Keep in mind, that depending on what you choose, there may be a wide range of prices. This will depend on a number of things ranging from the type and level of coverage you want and what the particular insurance company is charging. This is one main reason to comparison shop – the price.

Let’s say you wanted a plan where you could pick your doctor and get whatever medical procedures you needed done. Starting with that as an assumption, you would then have a variety of different levels of deductibles and out-of-pocket limits. Here is where the rubber meets the road. Either you pick what you can afford or try to afford what you pick. That’s a personal decision. If you value the freedom of choice, the more expensive option might be the one you want.

There are also managed plans you may consider –something similar to an HMO. Yes, these are less costly; however, you also give up having choices, meaning you have to choose your doctor from an approved list and you may only see a specialist on referral. This might be just the plan for you if you are in good health and only see the doctor about once a year for a check-up or the flu. You would still be covered for health emergencies, but things are a little more complex. For this reason, and for the sake of knowing precisely what the various plans offer, speak to an expert insurance agent.

Knowing what you have, what you actually get, what you pay, and why you pay that amount are things you need to know for later – when you need your insurance. If you don’t know right up front what is included in your health insurance plans, you may be in for a nasty surprise later. Talk to an insurance agent about what your choice of plan offers and about what it does “not” offer. Knowledge is power.

Evan Tunis is with FloridaHealthcareInsurance.com, the leading provider of Florida health insurance quotes. To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Thursday, February 4th, 2010 Articles Comments Off on What’s the Best Choice for Health Insurance in the US?

Term or Whole Life, Which Is Best?

Searching for life insurance can be a major pain. You can lessen the anxiety by getting multiple quotes for various coverage options.

Let’s say you want to buy whole life insurance. That’s a good decision by the way, and what you need to do next is to get multiple quotes from various insurance companies. This will give you the kind of information you need to know right away. Making decisions has never been easier.

Ideally you will be looking to compare what kind of coverage you get and what the price is for it.Comparing prices online is a simple and easy way to get the information you need to get started. You can always follow up by making phone calls to the insurance agents when you have a list of questions you want answered.

Once you have the quotes on whole life and term life, the next thing you’ll need to decide is the best option for you. There’s a lively debate about this in the industry and it helps to get a good idea of what both sides of that debate are saying. For instance, many insurance experts say term policies are best because they are less expensive. That way, the money you save, you could spend on yourself.

While this may be an option, it isn’t necessarily the right one for everybody. That’s why choosing life insurance is such a highly personal thing, with various factors in each person’s life making up the final decision. The fact is that every insurance policy has its pros and cons and this is why you want to consider all the benefits of each of them before you buy anything.

If you’re considering a whole life policy, there are some points that make it just perfect for some individuals. For example, the coverage never ceases so long as you keep paying the premiums; and you are covered for life. These types of policies generally also accumulate a cash value over time that is tax deferred. That’s a nice bonus. This particular option is usually a good one for people interested in estate planning and who want to leave money behind for heirs and beneficiaries, plus have the expenses of a funeral and taxes covered, etc.

If you’re not that certain what would really work for you, ask a financial planner or a highly skilled insurance agent. Discuss what you think would work, and work together to choose something tailored to your personal needs. Once you know what you want it’s a whole lot easier to start comparison shopping.

Honestly, the main thing to remember is that no one is trying to force you to buy life insurance. If they do try that, then it’s definitely not the place to buy anything, and keep on looking. Insurance agents are there to assist you make the right choices that fit “your” life, wants and needs. There is no need to be in a hurry to buy anything. Take your time, ask questions, consult with the agent, look around, and then decide. This will mean you get a product that is far better suited to what you want.

Evan Tunis is with FloridaHealthcareInsurance.com, the leading provider of Florida health insurance quotes. To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Tuesday, February 2nd, 2010 Articles 1 Comment