Insurance plan – Intuttitalia http://intuttitalia.com/ Mon, 31 Oct 2022 07:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://intuttitalia.com/wp-content/uploads/2021/10/icon-2-120x120.png Insurance plan – Intuttitalia http://intuttitalia.com/ 32 32 Tips for Choosing the Right Dental Insurance Plan – Forbes Advisor https://intuttitalia.com/tips-for-choosing-the-right-dental-insurance-plan-forbes-advisor/ Mon, 31 Oct 2022 07:00:00 +0000 https://intuttitalia.com/tips-for-choosing-the-right-dental-insurance-plan-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Personal expenses related to paying for dental care can be extremely expensive. That’s why many Americans opt for dental insurance, often offered through their employer or directly from a dental insurance company. […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

Personal expenses related to paying for dental care can be extremely expensive. That’s why many Americans opt for dental insurance, often offered through their employer or directly from a dental insurance company.

Dental insurance can significantly reduce what you pay for dental services, but you want to find a dental plan that’s right for you.

What does dental insurance cover?

Dental insurance plans vary in terms of coverage, plan types, and costs. Dental insurance plans can cover preventive and diagnostic services, including exams, x-rays and basic dental cleanings. More comprehensive plans may also provide some type of coverage for extractions, fillings, crowns, root canals, dentures, and partials.

“Orthodontics, implants, and cosmetic procedures like veneers are generally not covered,” says Leila Chang, CEO of Florida Dental Benefits.

Comprehensive dental insurance plans generally provide:

  • Preventative services at 100% coverage
  • Basic services at 80% to 100% coverage (fillings, root canals, extractions, etc.)
  • Major restorative services at 50% to 80% coverage (crowns, inlays/onlays, bridges, dentures)

What types of dental insurance plans are available?

Dental insurance plans typically have networks of providers, similar to health insurance plans.

HMO/EPO dental plans

These dental plans can offer a wide variety of benefits, including diagnostic and preventive services at little or no cost and other services provided at a fixed copayment (which is the responsibility of the member). But note that you must stay in the plan’s network.

“These plans provide services only through a panel of network participating dentists. They don’t need claim forms,” Chang says.

If you get dental care outside of the HMO/EPO provider network, you are responsible for all costs.

PPO Dental Plans

PPO dental insurance plans have a network of dentists, but dental PPOs also offer the freedom to choose an out-of-network dentist. Staying in the provider’s network costs you less, but going to an out-of-network provider is allowed at a higher cost.

“The benefits are richer if the member stays within the network,” says Chang. “These plans generally cover preventive and diagnostic services at no cost to the member.”

The dental insurance plan pays a percentage of the bill and the member is responsible for the rest of the balance. For example, if you get a root canal and the dentist charges $1,200, the plan may pay 50% of the cost and you will be responsible for the remaining $600.

Dental PPO plans usually have a deductible and may have a maximum amount they will pay out annually (often between $1,000 and $2,000). Once you reach the maximum payment, you pay the remaining costs for the rest of the year.

Dental Discount Plans

Dental discount plans are not actually dental insurance. Instead, they offer reduced flat fees for covered procedures and generally require members to visit a dentist who participates in the plan.

Cost of dental insurance

The average dental insurance policy with full coverage costs $47 per month, according to the Forbes Advisor analysis of dental insurance premiums. A preventative dental plan costs an average of $26 per month.

Several factors, including coverage and out-of-pocket, influence how much you pay for dental insurance. Here are examples of monthly dental insurance costs.

Examples of Dental Insurance Costs by Plan

Tips for Finding the Right Dental Insurance Plan

If you’re looking for dental insurance, it’s wise to do your due diligence, compare different insurers and plans, and compare the costs and benefits. Here are some tips for finding the dental insurance plan that‘s right for you.

Tip #1: Check if your employer offers dental benefits

The most comprehensive dental coverage at the best price is offered by employer group plans. If you are looking for dental insurance, your first stop should be your employer, if provided.

Tip #2: Determine which type of dental plan best suits your needs

Determine whether you prefer the lower costs of an HMO or the freedom of a PPO. Dental HMOs can provide good coverage, but you must stay within the plan’s provider network. A dental PPO offers more flexibility, but it comes at a cost.

Also consider whether you need preventative coverage or want a more comprehensive plan. The choice will influence the cost.

“While most dental plans include two checkups and cleanings per year, comprehensive policies can offer better protection, including coverage for fillings, crowns, extractions, root canals, deep cleaning, guards overnight, access to virtual care 24/7 and more,” says Colleen Van. Ham, CEO of UnitedHealthcare Dental.

Tip #3: Understand Network Access and Reimbursable Fees

Dental plans, like medical plans, usually have in-network providers. Check the extent of the network of providers in your area in case you need to change dentists or find a specialist.

“Opting for an in-network dentist can help avoid financial surprises and unnecessary outlays,” says Van Ham.

Tip #4: Get dental insurance before you need treatment

Don’t wait for your teeth to become a problem. Dental insurance plans may require a waiting period, which is a specified period of time after you purchase the plan that you must wait before you are eligible for treatment benefits.

For example, a dental plan may require waiting at least six months before receiving restorative services such as a filling or 12 months before paying for a denture or crown.

Dental insurance plans generally do not require a waiting period for preventive care.

Tip #5: Make sure your provider takes dental insurance

Dental insurance policies have provider networks that can affect where you get care and how much you pay for care.

Make sure your dentist accepts this specific dental insurance plan. Ask directly at the dentist’s office, as insurance companies may not have the most up-to-date provider network information on their websites.

If the dentist does not accept the plan, you will probably have to pay more or all of the treatment costs if you continue to go to that dentist.

Tip #6: Understand the limits of dental insurance

Unlike health insurance plans, there may come a time when a dental insurance company stops paying for your care. This when you have reached the annual maximum of the plan. A plane can also have a maximum life for certain services, such as orthodontics.

There are a wide variety of plan caps. For example, one plan may have an annual maximum of $1,500, while another may have a sliding scale of $1,000 for the first year and then higher annual maximums in subsequent years.

Dig into this information before deciding on a dental insurance plan.

Is dental insurance worth it?

Dental insurance can be a valuable investment, especially if you want to maintain your oral health and avoid dental pain and disease.

If you expect to only need regular dental cleanings and checkups, dental insurance may not be worth it. But if you’ve been lax on regular cleanings or are worried about a large bill for major dental work, dental insurance is a financial safety net.

“A dental exam can detect symptoms of more than 125 diseases and medical conditions, including leukemia, diabetes and eating disorders. Poor oral health can lead to further complications in people with heart disease and diabetes. Regular visits to the dental office can also avoid costly procedures like root canals and extractions,” says Chang.

Read more: Is dental insurance worth it?

Find the best dental insurance companies of 2022

Choosing the right dental insurance FAQ

Does dental insurance cover preventive care?

Most dental insurance plans provide coverage for preventative care, including x-rays, exams, and basic cleanings at no cost to members (beyond the monthly premiums paid).

Does dental insurance have maximum reimbursements?

Dental insurance does not have maximum annual out-of-pocket limits that are common in health insurance plans. These medical limits guarantee that you will not pay more than a certain amount for in-network care, but dental insurance does not include this feature.

How to get the cheapest dental insurance?

You’ll likely pay the least out of pocket for dental insurance if you opt for a workplace dental plan where your employer pays at least some of the premiums. Or you can opt for a low-cost dental plan, which offers reduced flat fees for covered procedures. But understand that a discount plan may not save as much in the long run.

“Reimbursable member fees for procedures on a discounted plan are generally higher than for other types of dental plans,” Chang warns with Florida Dental Benefits.

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It’s time to choose your health insurance plan for 2023, Idaho https://intuttitalia.com/its-time-to-choose-your-health-insurance-plan-for-2023-idaho/ Tue, 18 Oct 2022 10:22:19 +0000 https://intuttitalia.com/its-time-to-choose-your-health-insurance-plan-for-2023-idaho/ The Idaho health insurance market is bucking the inflation trend this year. The Your Idaho Health Exchange kicked off its 2023 enrollment period this month, with the average insurance premium rate 4% lower than this year’s rates. The Idaho Department of Insurance released rates Monday that showed up to 10% discounts. Most individual health insurance […]]]>

The Idaho health insurance market is bucking the inflation trend this year.

The Your Idaho Health Exchange kicked off its 2023 enrollment period this month, with the average insurance premium rate 4% lower than this year’s rates.

The Idaho Department of Insurance released rates Monday that showed up to 10% discounts. Most individual health insurance plans in Idaho are bought on the stock exchange.

Premiums vary based on a person’s age, geographic location, and tobacco use. People who qualify for subsidies through the exchange may see even more variation in how much they pay for health care and premiums, since the subsidies are based on their income.

“Idaho’s individual health insurance market premium rates for 2023 are dropping significantly while all other states are experiencing increases,” Idaho Department of Insurance Director Dean L. Cameron said Monday. , in a press release.

Cameron thanked state government leaders for their support a “high risk reinsurance” program this creates a buffer for insurance companies against the cost of very expensive health insurance claims. The state had previously estimated that the program would reduce premiums by 12%.

Idaho insurers collected on average 25% more in health insurance premiums in 2021 than they paid in claims, according to the tariff revision data published by the department.

Two companies are offering health insurance on the exchange for the first time this fall: St. Luke’s Health Plan and Moda Health Plan.

They join existing exchange insurers Blue Cross of Idaho, Molina Healthcare, Mountain Health CO-OP, PacificSource Health Plans, Regence Blue Shield of Idaho and SelectHealth.

In addition, six insurers will offer exchange-based dental plans.

The new additions mean Idahoans in all parts of the state will have multiple insurers competing for their business when they sign up for 2023 plans — with each county having at least four options to choose from, according to Your Health Idaho.

Idahoans have until December 15 to enroll in a new plan or change their coverage for 2023.

The exchange offers medical and dental insurance plans that meet federal requirements for affordability and coverage. For example, health insurance plans are required to pay for certain preventive care services at no cost to the patient.

Idahoans can visit yourhealthidaho.org to find out if they qualify for income-based subsidies to lower their monthly premiums. According to a press release from Your Health Idaho, more than 85% of consumers who purchase insurance on the exchange are eligible for assistance.

Idahoans can register on the website and see their grant results in minutes, according to the release. Prior to this year, applications had to go through a longer process to determine eligibility based on income.

“If you have applied in the past and been overwhelmed by the process, we encourage you to give us another

try. Now it’s easier than ever,” said Your Health Idaho Executive Director Pat Kelly.

The website allows consumers to browse plans anonymously or fill out an application for coverage that will take effect on January 1.

After the open enrollment period ends on December 15, Idahoans cannot subscribe to plans on the exchange unless they have a major life event, such as loss of health insurance coverage because of their work.

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Medicare Advantage and Prescription Plans Now Open

Idahoans who are eligible for Medicare plans can enroll in new plans or make changes to their existing plans through Dec. 7.

Representatives of the Idaho Department of Insurance’s Senior Health Benefits Advisors provide information to consumers free of charge. Counselors do not work for health insurance funds and are not salespeople.

“Medicare can be confusing and things can change. It’s important that seniors in Idaho take the time during open enrollment to consider whether their plan is still the best fit for their medical needs,” Cameron said in a press release.

Call 800-247-4422 to speak with a SHIBA representative about health insurance plans and coverage options, or to register for a SHIBA workshop.

The Idaho Department of Insurance and SHIBA also warned consumers in Idaho to watch out for scams and illegal marketing ploys as they consider Medicare enrollment.

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That’s why housewives also need an independent term insurance plan https://intuttitalia.com/thats-why-housewives-also-need-an-independent-term-insurance-plan/ Tue, 11 Oct 2022 18:08:29 +0000 https://intuttitalia.com/thats-why-housewives-also-need-an-independent-term-insurance-plan/ The transience of life applies equally to each of us. However, for decades, not everyone has had the same means of securing their future financially. The case in point here is the eligibility of housewives to obtain an independent term insurance policy for themselves. For decades, a person’s economic contribution has been tied solely to […]]]>

The transience of life applies equally to each of us. However, for decades, not everyone has had the same means of securing their future financially. The case in point here is the eligibility of housewives to obtain an independent term insurance policy for themselves. For decades, a person’s economic contribution has been tied solely to their financial output. This is perhaps the reason why the contribution of housewives has been largely underestimated for a very long time. This notion also played a role in their inability to opt for a stand-alone term insurance policy until recently.

Sajja Praveen Chowdary, Business Manager – Term Life Insurance, Policybazaar.com says, “With the recent launch of independent term insurance plans for housewives, a lot has changed. Now they can buy this plan regardless of their spouse’s policy or income status.This launched by insurance companies like Max Life, Tata AIA, IndiaFirst Life Insurance and HDFC Life marks a new dawn in the country’s financial protection landscape, in especially for women. With increased accessibility to insurance, housewives can lay their own safety net for their dependents without being dependent on their spouse. This is why it is imperative for every homemaker to secure their future and exercise better control over its financial protection.

Even after being financially empowered, women often do not take charge of their financial planning. A recent Women Investors Network survey found that about 48% of women depend on male relatives for investment decisions. This dependence tends to be higher in the case of housewives. Term insurance is as much a necessity for a housewife as it is for any time-saving family member. However, until now, they depended on their spouse to buy one, that too under certain conditions.

Other than that, they would only be covered up to 50% of the sum insured and the income multiplier would depend on the annual income of the spouse. Suppose if the annual income was Rs 5 lakh and the income multiplier is 15 times the annual income, then the husband would qualify for coverage of Rs 75 lakhs. Now if we assume he takes a cover of Rs 50 lakhs which leaves the woman with a cover of Rs 25 lakhs. And if we assume that the husband ends up taking a cover of Rs 75 lakh, then the wife will not be eligible for any cover. The rules of the policy were mainly decided by the earning spouse’s income and choice of coverage. So even though the housewife had a policy, there was little under her control. With this plan, that dependency has been eliminated.

This independent policy is available to housewives in the age bracket of 18 to 50 years. To ensure higher adoption, the plan has been designed in an inclusive and accessible manner. There are two basic conditions which must be met by the policyholder – the household income must be at least Rs 5 lakh per year and the housewife must be a graduate. Some policies also require the housewife to be the 10th or 12th pass as an eligibility criterion. Prior reliance on spousal income or policy has been completely ruled out.

Although a housewife’s contribution is not tangible, she is still an important part of the family’s financial infrastructure. And so, it is important that she also has fair access to a term insurance policy. Women constitute 49% of the total population of India, but only 16-20% of them are part of the labor force. This leaves a fairly large share of the female population. They also form a vital pillar of the economy through unpaid work and care and therefore their absence has a greater impact on finances. Household chores and care of family members account for around 39% of GDP according to UN Women data. Last year, the Supreme Court also pointed out that the common notion that housewives do not contribute to the economy is problematic and must be overcome. The unfortunate death of a housewife will lead to a restricted choice of professional roles for the husband, or may even force the family to relocate or hire paid child care. All of these items make up a significant portion of a household’s expenses. Although nothing can compensate for the loss of his life, at least his dependents and their future can be financially secured.

This change comes at a time when the pandemic continues to be an imminent threat to the health and lives of millions of people. This policy makes it possible to quantify the relevance of the socio-economic contribution of people in the household. It is also a huge step forward in the journey of financial inclusion, aside from the long-awaited recognition of unpaid work and care. However, this change will only be successful if more women realize the need for term insurance and take charge of their financial decisions.

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Your Guide to Buying a Child Health Insurance Plan in India https://intuttitalia.com/your-guide-to-buying-a-child-health-insurance-plan-in-india/ Mon, 10 Oct 2022 12:58:25 +0000 https://intuttitalia.com/your-guide-to-buying-a-child-health-insurance-plan-in-india/ October 10, 2022 Hear your guide to buying a child health insurance plan in India To play Pause Rewind 00:00 00:00 0.5x Mute/Unmute A child is the most important person in a parent’s life. Parents work hard and go to great lengths to provide […]]]>

October 10, 2022





Hear your guide to buying a child health insurance plan in India




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A child is the most important person in a parent’s life. Parents work hard and go to great lengths to provide the best possible life for their children in terms of education, medical care, lifestyle, food, entertainment, etc. However, children frequently fall ill with poor eating habits and increasing pollution and are vulnerable to infectious diseases. diseases such as malaria, pneumonia, diarrhea, etc. Apart from this, there has been an increase in the number of children suffering from serious health conditions like diabetes, obesity, cancer, etc.

Growing health risks to children are of concern to many parents, as these illnesses and conditions can have a long-term impact on their physical and mental health. Also, the cost of medical treatment and medication is skyrocketing, which can add financial stress to an already stressful situation. Therefore, to ensure that you provide quality health care to your child, it is crucial to add your child to your health insurance plan or purchase a health insurance plan for yourself.

So when it comes to covering your child with health insurance, you can either opt for child health insurance or add the child’s name to your family health insurance float. Let’s understand how these plans work:

1. Individual health insurance plan for children:

Similar to an individual health insurance policy, you can purchase a separate individual health insurance policy for your child. Although purchasing an individual health insurance plan for each family member can be expensive, it ensures that your child is covered by a separate sum insured. Purchasing this type of plan makes sense when the child needs frequent health care, or adding them to a family plan can significantly increase the premium due to their pre-existing conditions.

Your Guide to Buying a Child Health Insurance Plan in India

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2. Floating Family Health Insurance Plan:

When parents have a joint health insurance plan or a family floating health insurance plan, the first thing they consider when covering their child with health insurance is to add it to their family floating plan. Since a single policy provides coverage for all family members, the premium for the policy is significantly lower than purchasing individual health insurance plans for each member. However, the sum insured is distributed to all members. Thus, if one of the family members has used the entire sum insured, the other members cannot benefit from the policy.

Apart from these two types of policies, employees can also add their child to their company health insurance plan, provided that the employer provides coverage for the spouse and children. However, we do not consider corporate health insurance plans as it is not advisable to depend on these plans. The employer can change the terms and conditions of the plan at any time or can decide to stop providing the facility. Not having sufficient health insurance coverage can deprive you of quality medical treatment.

Here are some things to consider when buying health insurance:

1. Child’s age:

When covering your child with a health insurance plan, the most crucial factor you need to consider is age.

  • New born: Many health insurance policies provide coverage for children after 90 days of birth, and some policies may have a longer waiting period than that. Therefore, if you want to cover a newborn baby, you should look for a contract with maternity cover or take out separate supplementary maternity insurance with your health insurance plan.

  • From childhood to adolescence: For children through their teens, you can add them to a floating family health insurance plan or purchase separate individual health insurance based on their health needs. If the child does not have specific requirements, it is advisable to add them to your family floating health insurance plan as this can save a considerable amount on the premium.

  • Young adults: Floating title family health insurance plans generally provide coverage for children up to age 25. When kids finish school and start paying their bills, it makes sense to have their own health insurance coverage.

2. Wide Coverage:

The coverage of a health insurance policy corresponds to the treatments and situations covered by the policy. You must ensure that all primary and potentially necessary treatments and situations are covered by the children’s health insurance plan. The broader insurance coverage will ensure you get financial support for most illnesses.

3. Sufficient sum insured:

The sum insured is the maximum amount you can claim from your health insurance plan. Often people go for a policy with a lower premium which might not offer enough sum insured. This does not serve the purpose of having health insurance because in the end, you will have to pay the additional medical costs out of your own pocket. It is therefore important to ensure that your child has enough insurance for all of their health needs.

4. Other advantages:

Not all insurance companies offer the same benefits under a health insurance policy. Thus, you should compare the different benefits offered, such as ambulance fees, room rent cap, day care, critical illness, a list of inclusions, etc., and choose the right package that meets your child’s needs.

5. Neonatal or postnatal care:

Although the maternity plan covers the delivery costs, there could be many more expenses after the child is born, such as inoculation, vaccinations, etc. Therefore, it makes sense to purchase a maternity plan or maternity supplement to ensure that all of these expenses are covered by insurance.

6. Network hospitals:

Make sure your preferred hospitals are on the list of hospitals in the insurer’s network. This will help you avail the cashless claim facility. Plus, you won’t have to worry about finding money to cover medical bills in a stressful situation.

7. Policy premium:

You should compare and verify the premium you pay against the sum insured and the benefits offered. You can easily check the premiums for different health insurance policies using the premium calculators available on the official websites of insurers. As mentioned earlier, adding your child to a floating family health insurance plan is a cost-effective way to cover them with health insurance.

8. Complaint Settlement:

The claims process should be quick and easy. And the insurance company must have fast customer service. The claims settlement ratio represents the number of claims successfully settled compared to the number of claims filed in a year. A high claims settlement ratio means that the chances of your claim being settled are high.

9. Company Reputation:

Apart from the claims settlement rate, you also need to consider the goodwill of the business, the number of years in business, the solvency ratio which defines the ability of the business to pay its short and long term debts term and the number of policies issued in a year.

10. Convenience:

Make sure that the purchase and renewal of your health insurance policy can be done without problems. Many insurers offer online purchase and renewal of policies, which saves you a lot of time and money. Also, the flexibility to make changes to the existing policy is another feature that can come in very handy.

11. Exclusions, exemptions and general conditions of the policy:

Before buying the health insurance policy, make sure to carefully read the list of exclusions, policy exemptions and policy terms and conditions. Reading all policy documents beforehand will help avoid any future litigation.

To conclude:

This article explains everything you need to know before purchasing a health insurance policy for your child or adding it to your family floating health insurance plan. Make sure to consider the suggested points before making a buying decision to choose the best suitable children’s health insurance policy. Make sure you understand the plans, compare plan benefits and premiums, and read all policy documents carefully. This will help you make an informed decision.

Best wishes,
Ketki Jadhav

Content Writer

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Are you considering taking out health insurance? The devil is in the details – The New Indian Express https://intuttitalia.com/are-you-considering-taking-out-health-insurance-the-devil-is-in-the-details-the-new-indian-express/ Mon, 10 Oct 2022 03:39:00 +0000 https://intuttitalia.com/are-you-considering-taking-out-health-insurance-the-devil-is-in-the-details-the-new-indian-express/ Express press service Paying your hospital bills against your insurance claim can give you headaches for days. Most of the health insurance policy holders are not fully aware of the terms and conditions of the insurance companies and then feel cheated. It is therefore essential to get a complete answer to your doubts before getting […]]]>

Express press service

Paying your hospital bills against your insurance claim can give you headaches for days. Most of the health insurance policy holders are not fully aware of the terms and conditions of the insurance companies and then feel cheated.

It is therefore essential to get a complete answer to your doubts before getting your hands on a particular font. In addition, according to experts, medical costs are increasing because of insurance.

“Hospitals tend to charge more when they learn that patients have medical insurance. So many entities like Ministry of Health, Insurance Regulator and Indian Medical Association (IMA) need to step in to streamline the whole insurance settlement process,” said one of the experts who did not want to not be quoted at TNIE.

During the Covid pandemic, even the prices of basic drugs were increased. Thus, fair practices are not followed by the healthcare industry and all the blame is put on the insurance industry, according to experts.

India’s Competition Commission (ICC) has ordered an investigation into allegations that some large hospital chains are abusing their dominant position and overcharging patients for rooms and medical equipment.

Limits of health insurance plans
Purchasing health insurance does not mean that all your health expenses would be covered. There are different limits and ceilings under a health policy, and people would do well to know about them in advance.

“In most cases, people don’t know the different components of medical expenses covered by their policy. They randomly choose a policy thinking that all their medical expenses will be taken care of,” said one of the experts.

“The lack of standardization, whether in treatment protocols or in the application of industry standard coding, results in an arbitrary line of treatment to maximize profits. Payers review these health claims to waste and other discrepancies, thereby denying or adjusting claims,” Vandana Bhardwaj, Principal and Senior Vice President, Medlnsight-Milliman said.

Also, people should be aware that just having a policy with a higher sum assured does not mean that their bills will be paid up to that limit. They should know the room rent ceiling which is one of the most important deciding factors in the final settlement of their hospital bills.

“Choosing health insurance plans that meet the specific needs of an individual/family is of paramount importance. There are various product offerings that a consumer can choose from based on parameters ranging from PED waiting period, specific benefits such as unlimited auto-recharge of sum assured, annual health checkups, air ambulance coverage, maternity coverage and OPD coverage, among many others. said Ajay Shah, Chief Retail Director, Care Health Insurance.

All this, in addition to benefiting from cashless treatment in the event of hospitalization and coverage of pre- and post-hospitalization expenses,” Shah added. An insurance expert says that people should opt for this policy which has no limit on the room rent.

“It is always better to pay a higher premium for a policy without such limits than to go for a cheaper policy with a sub-limit,” said one of the insurance experts.

Know your health expenses
Experts say consumers should question their health and their lives at stake. They have every right to know what their doctors recommend and why. High cost does not mean better treatment or better doctors, they argue.

“Doctors are recommending expensive stents, drugs, etc., because they are incentivized. Consumers should be aware of all riders and the fine print of their health policy if they are insured,” one expert said.

Experts give examples of the introduction of a few drugs – very large doses of antibiotics, etc. – for the treatment of diseases, which have not been proven on the basis of evidence to cure the disease more effectively than a lower dose of the same medicine. Industry insiders also cite examples of robotic surgeries costing three times as much as laparoscopic surgery without providing additional clinical benefit for the removal of cancerous fibroids from the uterus.

Unlike India, in countries like the UK, there are independent bodies that evaluate every new test, every new procedure, etc. from a health economics perspective. Here, no one knows if the new equipment is as good as the existing one.

Experts also point to a new practice of hospitals adding new line items in hospital bills.

“I have some bills from some hospitals where I observed that patients who had angioplasty for stent placement, those hospitals started charging a separate item called stent implantation fee. But the stent itself means putting the stent on the coronary artery, so why this extra burden”, asked one of the experts.

“Such innovative hospital practices lead to greater scrutiny of health insurance claims, which if not done would become a practice,” he said.

If you don’t want to have a shock when you are discharged from the hospital, it is very necessary that you understand both the limits of your health policy and the cost of health expenses.

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Minnesota Chamber rolls out health insurance plan for members https://intuttitalia.com/minnesota-chamber-rolls-out-health-insurance-plan-for-members/ Thu, 06 Oct 2022 23:03:35 +0000 https://intuttitalia.com/minnesota-chamber-rolls-out-health-insurance-plan-for-members/ The Minnesota Chamber of Commerce is returning to the health insurance business. On Thursday, the chamber announced that it is partnering with Minnetonka-based insurer Medica to offer health insurance plans to small and medium-sized businesses. Known as ChamberHealth by Medica, the offer is for chamber members only and is limited to companies in certain industries: […]]]>

The Minnesota Chamber of Commerce is returning to the health insurance business.

On Thursday, the chamber announced that it is partnering with Minnetonka-based insurer Medica to offer health insurance plans to small and medium-sized businesses. Known as ChamberHealth by Medica, the offer is for chamber members only and is limited to companies in certain industries: manufacturing, finance and insurance, and professional, scientific and technical services.

Vicki Stute, the chamber’s vice president of business programs and services, described the offer as an “association health plan.” It is basically a plan that meets a specific industry classification. “Individual employers are then grouped together to create a larger group health plan,” Stute said. “By consolidating these employers into one program, you are able to reduce costs and provide special features that are typically only available to larger employers.”

The chamber acts as the plan’s sponsor and will take care of general administrative tasks such as premium collection, she said.

Stute said small businesses across the state have been asking the chamber for a health insurance option for some time. “They recognize that they need to offer competitive employee benefits and believe that health insurance is key to their success,” she said. This is especially true as they compete for talent with Fortune 500 companies in the state.

It has been many years since the Minnesota Chamber of Commerce offered health insurance to its members. Stute said the organization hasn’t done this since around the 1980s. But the chamber offers a host of other insurance options, including life insurance, short- and long-term disability, vision, and dental coverage. Stute noted that the chamber had offered a form of insurance since 1943.

The new health plan is limited to companies that employ between 2 and 300 people.

Stute said the chamber would like to offer the plan to companies in other industries, but state statutes prohibit it. “Minnesota doesn’t allow developing a plan across multiple industries; it has to be industry specific,” she said.

The new chamber health insurance plan will come into effect on January 1, 2023.

“We are delighted to extend our insurance solutions to our member companies. This particular ChamberHealth by Medica program is really the first step,” Stute said.

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Is your health insurance plan suitable for your current lifestyle? https://intuttitalia.com/is-your-health-insurance-plan-suitable-for-your-current-lifestyle/ Sat, 01 Oct 2022 11:28:45 +0000 https://intuttitalia.com/is-your-health-insurance-plan-suitable-for-your-current-lifestyle/ By Amit Ganorkar “30 is the new 20” can be music to the ears. Medically, it seems, “30 is the new 40.” Diseases that were commonly associated with old age until a generation ago are rampant among young people. Today, it is common to see people in their thirties taking pills for high cholesterol or […]]]>

By Amit Ganorkar

“30 is the new 20” can be music to the ears. Medically, it seems, “30 is the new 40.” Diseases that were commonly associated with old age until a generation ago are rampant among young people. Today, it is common to see people in their thirties taking pills for high cholesterol or high BP or taking insulin injections. It is also common to see young people relying on inhalers to combat pollution-induced asthma attacks. The incidence of young victims of heart disease is also increasing day by day.

The double whammy of a sedentary lifestyle and long, stressful working hours means nothing but ruin. Lack of sleep, unhealthy eating habits, and the dark shadow of uncertainty cast by the pandemic are among the many other reasons behind the early onset of burnout, both mental and physical.

Identify your health insurance needs

With unpredictability becoming synonymous with life, the only way to exercise any semblance of control is to obtain comprehensive health insurance coverage. To get started, identify your health insurance needs and the optimal amount of insurance you need; Determine if you need a health insurance plan just for yourself or one that also covers your family members. Accordingly, you can opt for an individual plan or consider a family health insurance plan.

Then, narrow down the type and extent of coverage you need based on your age, family medical history, pre-existing conditions, if any, nature of medical expenses, medical inflation, etc. Since health insurance policies are lifelong renewals, it is relevant to opt for such policies from insurers with a strong brand image.

Financial liabilities such as loans or income tax savings are other things that should also be considered when purchasing a policy.

Read also: Should you subscribe to a multi-annual mutual fund?

Right age to buy a health insurance policy

Our parents usually planned to get health insurance coverage as they approached their 40s. However, in the wake of the early onset of lifestyle diseases, it is wise to take out a plan as early as age 30. Age is an important factor when purchasing a health insurance policy. The sooner one buys a health insurance policy, the better.

Most insurance companies require a pre-policy medical examination before issuing a health insurance plan and this depends on the coverage chosen and medical/health conditions, if any, apart from age . Whereas diseases such as obesity, hypertension, cardiovascular disease, diabetes, lung cancer, etc. generally stem from an unhealthy lifestyle, it is strongly advised to take out a policy when these conditions are absent or controlled without associated complications.

Get yourself some coverage before poor lifestyle choices take their toll and begin to reflect through deranged biomarkers. Second, based on the health conditions a person is suffering from – there is a strong possibility that the person will be subject to an underwriting lens before the proposal is accepted.

And remember that most health insurance policies do not cover pre-existing conditions from the first day the policy begins. Depending on the health insurance plan purchased, these pre-existing conditions are covered after a waiting period which is usually 36 or 48 months from the effective date of the policy.

It is also important to keep in mind the experience of the COVID-19 pandemic and therefore postponing the purchase of a health insurance policy would not be a prudent decision.

Choose the best health insurance

If your health report is all green, opt for a health insurance plan that offers comprehensive coverage and don’t look for any restrictions applied in the product, such as room category restriction, sublimits per illness/disease, capping of medical/surgeon fees, etc. -payout, OPD coverage and plan that provides a higher cumulative “no claim bonus” for each claim-free year. There are plans on the market that also offer annual preventative health checkups.

In addition, there are certain diseases that require significant expenses before and after hospitalization. In this case, opt for a plan that offers a longer period of coverage for pre/post hospitalization expenses. There are different plans with varying coverages and premiums and great discretion is required. With the pandemic highlighting the role of comorbidities in recovering from Covid, it makes sense to choose a plan that covers medical expenses related to Covid-19 such as consumables (e.g. PPE/Gloves/Faceshield etc.) .

Immense research has taken place in the field of medical/treatment technology, both diagnostic and therapeutic, which leads to medical inflation. Therefore, plans with higher sum assured options (Rs. 10 lakh and above) are something one should look into. Second, access to health care abroad is another key thing to keep in mind. Insurers have started to offer comprehensive coverage in their health insurance plans. Opting for such a policy will be an added advantage.

Also Read: Rs 1 Crore Health Insurance – Do You Really Need It?

In the case of younger people, health insurance plans that offer maternity coverage should not be ignored. The need for this coverage must be aligned according to his needs.

The density of the insurer’s hospital network should also be researched when purchasing the policy. Individuals should check the availability of those network hospitals that offer cashless facilities in their city/neighborhood and then freeze the health insurance plan.

The bottom line

From a macro perspective, choose an insurer that has a strong brand image and a policy that has a large network of hospitals, no sub-limits on hospital room rent, covers consumable expenses, comprehensive treatment coverage, plans offering OPD coverage and definitely a hassle-free claims process.

The main thing is – Just get a blanket. The right cover.

(The author is Chief Operating Officer, Tata AIG General Insurance)

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Announcing 2023 health, dental and small group insurance plan rates – InsuranceNewsNet https://intuttitalia.com/announcing-2023-health-dental-and-small-group-insurance-plan-rates-insurancenewsnet/ Thu, 29 Sep 2022 14:00:10 +0000 https://intuttitalia.com/announcing-2023-health-dental-and-small-group-insurance-plan-rates-insurancenewsnet/ The 2023 regulated health, dental and small group insurance plan prices were announced last week, following extensive reviews by independent actuaries and the Office of Value-Based Health Care Delivery. As premiums rise sharply nationwide, the extension of consumer-friendly subsidies through the Cut Inflation Act, coupled with Delaware’s strong enrollment in 2022 and 2023 health insurance […]]]>

The 2023 regulated health, dental and small group insurance plan prices were announced last week, following extensive reviews by independent actuaries and the Office of Value-Based Health Care Delivery.

As premiums rise sharply nationwide, the extension of consumer-friendly subsidies through the Cut Inflation Act, coupled with Delaware’s strong enrollment in 2022 and 2023 health insurance market expansion, will limit impact on consumers locally, insurance commissioner Trinidad Navarre said.

“This year, Delaware consumers have more carrier and plan choices than ever before, so they can find an affordable plan that meets their needs. We remain optimistic that this increased competition will lead to lower prices and better quality of care over time,” Mr Navarro said.

“Delawarens are facing rising costs in almost every area of ​​life and are making difficult sacrifices to afford basic necessities – but let me be clear, whatever the financial cost, we we cannot afford to sacrifice our health. We will continue to work to ensure coverage is affordable and accessible to all residents.

Two new health insurers will join the market in 2023. Before tax credits and subsidies, base rates for 21-year-old non-smokers range from $315 to $505 out of nine Aetna CVS Health diet options and $283-$402 with AmeriHealth Caritas, through four plan options.

Return of the Affordable Care Act Issuer Highmark Blue Cross Delaware Blue Shield will increase rates by an average of 5.5%, with base rates for 17 plan options ranging from $249-$618, including a catastrophe plan option. Over the past few years, Highmark’s average rates have increased by around 10%, despite this necessary increase.

The blueprints in the market are split between metal level categories – bronze, silver, gold, platinum, and catastrophic. The plans are based on how enrollees choose to share the costs of care with their insurance companies.

Mr Navarro said in a statement that it urges residents to educate themselves and purchase the best plan for their needs and budget.

Thirty plans are available for Delawares for the 2023 plan year, and local navigators are available to help choose the right one. Open registration takes place 1 Nov-Jan 15, 2023.

Insurers are asking for nationwide increases due to inflation, rising healthcare costs and rising drug prices, Navarro’s office said. In Delawarestate and federal legislation contributed to the carrier’s long-awaited expansion and final fares.

“It is no coincidence that Delaware was able to expand the number of carrier options on the health insurance market the same year that laws limiting hospital price growth to appropriate levels and accounting for inflation became law,” Mr Navarro said.

“The Hospital Price Growth Act, for the first time in our state’s history, has given insurers leverage to negotiate lower costs for consumers while ensuring that hard-working health care providers receive their fair share. We are grateful to have worked with lawmakers and the Primary Care Reform Collaborative to put in place cost containment safeguards to curb rising consumer spending, encourage carrier expansion and ensure the effectiveness of every dollar spent.

With few financial limits around hospitalization costs, private insurance plans pay the price, which is, on average, 224% more than health insurance plans, according to the RAND Corp.

During the tariff filing process, questions also remained about the expiry of the American Rescue Plan Act grants, which the department lobbied the Delaware congressional delegation to extend. These grants have significantly reduced consumer costs and contributed to the largest Affordable Care Act enrollment in the state ever, a 26.8% year-over-year increase.

Had these benefits expired, healthy consumers who had been incentivized to acquire coverage through the enhanced discounts might have exited the market, reducing the risk pool and unbalancing rates. On August 16President Joe Biden signed the Inflation Reduction Act, extending subsidies until 2025.

In addition to potential increases in enrollment due to carrier expansion, future growth in participation could come from the unwinding of Medicaid and income eligibility reviews. National efforts are underway to ensure smooth and affordable transitions to market coverage for eligible individuals.

Delta Dental will reduce Affordable Care Act and out-of-market rates by an average of 4%, and Dominion Dental will increase Affordable Care Act premiums by 2.2%. Rates for Metropolitan Life Insurance Co.’s small group out-of-market dental plans will remain at their current levels.

The return of Highmark’s out-of-market small group plans will increase by an average of 2.4%, Optimum Choice plans will increase by 2.7% and United Healthcare small group rates will increase by 2.8%. Aetna Health’s small group diets will increase by 7.6%, and Etna life rates will increase by 5.1%, after an initial request for an 8.8% increase was reduced. Aetna Health’s nine out-of-market individual plan prices will remain at their current levels.

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Best Term Insurance Plan for October 2022 – Forbes Advisor INDIA https://intuttitalia.com/best-term-insurance-plan-for-october-2022-forbes-advisor-india/ Mon, 26 Sep 2022 07:00:00 +0000 https://intuttitalia.com/best-term-insurance-plan-for-october-2022-forbes-advisor-india/ User-friendly term plan: A low-cost term plan is based on the policyholder’s age and health. The premium charged would automatically be low for non-smokers or consumers leading a healthy lifestyle. Thus, it is advisable to purchase a term plan at an early stage in life as one can avail higher coverage at a very low […]]]>

User-friendly term plan: A low-cost term plan is based on the policyholder’s age and health. The premium charged would automatically be low for non-smokers or consumers leading a healthy lifestyle. Thus, it is advisable to purchase a term plan at an early stage in life as one can avail higher coverage at a very low premium cost.

Buy a package online: It is also advisable to always purchase the term plan through online channels rather than through an agent. Online plans have better deals and discounts and are available at lower premium rates than offline plans.

Benefits of the integrated policy: Before purchasing a term insurance policy, please review all of the benefits and living benefits that are built into this plan. For example, most plans sometimes include a terminal illness or accidental death rider at no or no cost. So, it is always beneficial to check these details about these benefits and how they will be payable to the applicant or the policyholder at the time of need.

Choose your policy term wisely: When purchasing a term plan, always make sure to enter the term of the policy and the coverage provided as per your future needs and requirements. If your policy term ends at 10, 20 or 30 years and then if you renew the plan until a certain age, it could cost you dearly because you will be renewing your policy at a later age. It is advisable to have the policy for as long as you retire to get rid of high renewal costs.

Claims settlement ratio (CSR): When choosing the best temporary plan, it is important to take into account the insurer’s CSR which represents the number of claims settled by the insurer compared to the number of actual claims filed by the insured or its agents. A CSR above 80% is generally considered the right claims settlement rate.

To find out what the difference is between term insurance and life insurance policies, read our Term Plan vs Life Insurance article for more details.

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Best Term Insurance Plan for November 2022 – Forbes Advisor INDIA https://intuttitalia.com/best-term-insurance-plan-for-november-2022-forbes-advisor-india/ Mon, 26 Sep 2022 07:00:00 +0000 https://intuttitalia.com/best-term-insurance-plan-for-november-2022-forbes-advisor-india/ User-friendly term plan: A low-cost term plan is based on the policyholder’s age and health. The premium charged would automatically be low for non-smokers or consumers leading a healthy lifestyle. Thus, it is advisable to purchase a term plan at an early stage in life as one can avail higher coverage at a very low […]]]>

User-friendly term plan: A low-cost term plan is based on the policyholder’s age and health. The premium charged would automatically be low for non-smokers or consumers leading a healthy lifestyle. Thus, it is advisable to purchase a term plan at an early stage in life as one can avail higher coverage at a very low premium cost.

Buy a package online: It is also advisable to always purchase the term plan through online channels rather than through an agent. Online plans have better deals and discounts and are available at lower premium rates than offline plans.

Benefits of the integrated policy: Before purchasing a term insurance policy, please review all of the benefits and living benefits that are built into this plan. For example, most plans sometimes include a terminal illness or accidental death rider at no or no cost. So, it is always beneficial to check these details about these benefits and how they will be payable to the applicant or the policyholder at the time of need.

Choose your policy term wisely: When purchasing a term plan, always make sure to enter the term of the policy and the coverage provided as per your future needs and requirements. If your policy term ends at 10, 20 or 30 years and then if you renew the plan until a certain age, it could cost you dearly because you will be renewing your policy at a later age. It is advisable to have the policy for as long as you retire to get rid of high renewal costs.

Claims settlement ratio (CSR): When choosing the best temporary plan, it is important to take into account the insurer’s CSR which represents the number of claims settled by the insurer compared to the number of actual claims filed by the insured or its agents. A CSR above 80% is generally considered the right claims settlement rate.

To find out what the difference is between term insurance and life insurance policies, read our Term Plan vs Life Insurance article for more details.

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