Health Insurance Plans Comparison

When it comes to finding affordable health coverage, it pays to do a health insurance plans comparison. After all, you want to make the most informed decision possible; one that will leave you feeling certain that you have made the right coverage choice for you and your dependents. Comparing and contrasting plans allows you to take a closer look at the details, pros and cons of each medical plan, so that you will know what to expect from the coverage once you make your decision.

Look at it this way; you are unlikely to purchase a new car without first comparing it to other makes and models to determine if it has exactly what you need or if another vehicle better suits your needs and preferences. So why would medical coverage be any different? It is an important decision that is worthy of your research, time and consideration.

How to compare and contrast medical health insurance plans

While it may not be incredibly exciting, conducting a health insurance plans comparison is easier than you may think. First, you will want to line up the different types of plans available to you. In most cases, you are going to be choosing between the following types of insurance plans:

* Preferred Provider Organizations or PPOs-designed to provide comprehensive medical coverage through a variety of different doctors and specialists as well as hospitals and clinics without the need for referrals. You can even go outside of the PPO network for care, but your out-of-pocket costs will be higher.

* Health Maintenance Organizations or HMOs-are quite commonly considered the most affordable health care coverage. They also provide comprehensive coverage, but it is important to stay within the network and with a particular primary care physician who refers the patient if any other specialist services are needed.

* Health Savings Accounts or HSA accounts-offer high-deductible coverage, so you may have to pay more up-front for medical care and premiums are lower. However, the HAS accounts also include a tax-free medical savings account to help cover your out-of-pocket costs.

* Fee for Service or FFS plans-provide an even more affordable option, but typically do not provide comprehensive coverage and things like preventative care. You pay for all medical appointments and services and then the FFS plan will reimburse you a certain, pre-determined percentage of your cost.

Lining up these types of accounts side by side, you will then want to make a list of the medical services you have received in the past two years as well as predict the services you may be utilizing in the coming year. Also, take into consideration your budget. Are you able to pay higher premiums in an effort to save on out-of-pocket medical costs, or does it make more sense to go with lower premiums and risk the possibility of having to pay more out-of-pocket if an unexpected illness or injury occurs? Would you have the funds to cover these kinds of unexpected costs?

Really looking closely at your unique medical needs as you conduct your health insurance plans comparison is the best way to choose the plan that is right for you. As you arm yourself with the information you need to make an informed choice, you can know that you have taken responsibility for the medical and financial health both of yourself and your family members.

Brits opt for private insurance deals

Worried Britons are seeking out private health insurance.The number of Britons taking out private insurance deals has risen over the past 12 months, despite the continued economic downturn.

New research from the Association of British Insurers (ABI) has found that over 6.2 million people were covered by private medical insurance (PMI) in 2008.

An additional 1.1 million consumers had arrangements in place with the Healthcare Trust, taking the total number of people covered by private insurance deals to over 7.3 million.

This marks a 2.7% increase on 2007's figures, with the ABI welcoming the results.

Director general Nick Starling explained that corporate PMI makes sense for both employees and companies.

He said: "PMI is good for companies and the economy because it enables employees to get back to work after illness or injury as quickly as possible."

Research from BUPA released in response to the ABI figures revealed that the top reason for taking out PMI is to gain access to clean hospitals.

Insured Cover Health Costs of Uninsured

A "hidden health tax" has families paying $1,017 more in health insurance premiums in 2009; according to Families USA, a healthcare advocacy group. Individuals pay an additional $368, the group says.

According to Reuters, a report released Thursday by Families USA said that healthcare providers charge those with private insurance more to cover the cost of care for those without it, and insurers, in turn, raise premiums to pass along the cost. In 2008, people without insurance got about $116 billion worth of healthcare and paid for about 37 percent of the cost.

While government programs and charities paid 26 percent, $42.7 billion was left on the shoulders of the privately insured, the report found.

Despite Recession, Personalized Health Care Remains in Demand

Thanks to patients who still value their health in hard times, the recession has barely slowed the growth of concierge medical practices, which charge hefty membership fees for highly personalized care and around-the-clock access.

From Seattle, where the movement began in 1996, to South Florida, where its largest concern is now based, physicians with boutique practices say they are losing far fewer patients for financial reasons than they had expected. While some new practices are not filling as quickly as they might, they continue to attract a steady flow of patients willing to pay thousands of dollars for the privilege.

The practices typically charge at least $1,500 a year, with the most elite services asking $25,000 or more per family. The fees cover a thorough physical exam and enable physicians to limit the number of patients they see so they can provide premier service.

Doctors give patients their cellphone numbers and schedule leisurely same-day appointments with no waiting. Some make house calls, though patients still need health insurance to pay for hospitalizations and specialists.

Most of the 20 physicians and executives interviewed said that a small number of patients had decided not to re-enroll in recent months, citing lost jobs or devalued portfolios. They tend to be like Susan Schwartzman, a book publicist from Yonkers who said she had given up her concierge doctor because of declining income, but only after first canceling her gym membership and swearing off restaurants.

For the most part, however, boutique practices have shown resiliency. Doctors said the recession seemed to have reaffirmed the importance of health care to their patients. With jobs scarce and stress at a peak, many may see a link between continued health and continued employment. And with savings depleted, they recognize that assiduous preventive care may help them avoid costly chronic conditions and hospitalizations.

As the economy crumbled last fall, Dr. Cynthia L. Williams of Torrance worried about the unfortunate timing when she sent letters in November informing her 2,200 patients that she would be converting to a $2,000-a-year concierge practice. Nonetheless, she said, she had signed up 315 patients and was adding one a week. “On my busiest day I’m seeing 14 patients, but on a lot it’s eight,” she said. “In the old practice, I was booked about one patient every 12 minutes, about 25 to 30 a day. I love it, and I think my patients love it.”

Many of the doctors boasted of their ability to keep patients out of emergency rooms by intervening by phone for conditions like diverticulitis or an abnormal heart rhythm. They said their deep knowledge of their patients helped them detect subtle changes and danger signs.

“A close personal relationship with a physician is not something that’s easy to find anymore,” said Dr. David L. Elliott, an MDVIP physician in Phoenix. “People find it valuable.”

Health care groups pledging to create $2 trillion in savings

WASHINGTON – Volunteering to "do our part" to tackle runaway health costs, leading groups in the health-care industry have offered to squeeze $2 trillion in savings from projected rate increases over the next decade, White House officials said Sunday.

Hospitals, insurance companies, drug makers and doctors planned to tell President Barack Obama at a meeting today that they'll voluntarily slow their rate increases in coming years in a move that government economists say would create breathing room to help provide health insurance to an estimated 50 million Americans who now go without it.

With this move, Obama picks up key private-sector allies that fought former President Bill Clinton's effort to overhaul health care.

Although the offer from the industry groups doesn't resolve thorny details of a new health-care system, it does offer the prospect of freeing a large chunk of money to help pay for coverage. And it puts the private-sector groups in a good position to influence the bill Congress is writing.

The groups aim to achieve the proposed savings by using new efficiencies to trim the rise in health-care costs by 1.5 percent a year, the officials said. That would carry huge implications for the national economy and the federal budget, both of which are significantly affected by health-care expenses.

"I don't think there can be a more significant step to help struggling families and the federal budget," a senior administration official said in a conference call with reporters. The official spoke on condition of anonymity because the offer remains tentative.

The White House projects that the savings after five years under the proposal would mean about $2,500 a year in lower health-care bills for a family of four, the official said. Within 10 years, the savings would "virtually eliminate" the nation's budget deficit.

WHO'S MAKING THE PLEDGE?
The trade groups making the pledge represent a broad spectrum of health-care interests:

•The American Medical Association

•The Pharmaceutical Research and Manufacturers of America, representing drug companies

•America's Health Insurance Plans, which represents insurers

•Service Employees International Union

•American Hospital Association

•Advanced Medical Technology Association, which represents device makers