Health issues are a hot topic as health care costs have increased over time. Whether you have health insurance or not, you are affected by the rise in health care costs and need to understand how to plan your finances around medical and health care issues. Drug and annual medical expenses are a large component of health care costs, but you must also consider hospitalization and other costs associated with aging that affect your financial health. As health issues become more important with an aging population, the issue of “health” involves medical choices, health insurance choices, hospital issues and choices, doctor selection issues, long term care costs, choices and issues.
If you’re looking for the most cost-effective insurance plan, you might be drawn to a high-deductible health plan. Because the deductible for this type of plan can be as much as $1,000 or more, you typically pay lower monthly premiums, which can leave you with more money for other expenses. But if you get sick, [...]
After you’ve decided on which plan might work best for you, it’s time to shop for and compare insurance plans to ensure you find the health insurance policy that fits your needs. The Patient Protection and Affordable Care Act (PPACA, also called Obamacare) requires everyone, except those in very specific circumstances, to purchase health insurance. [...]
With open enrollment season upon us, now is your chance to enroll in your health insurance or make a change to your policy for the coming year. If your employer offers only a few health insurance options, then the decision will be relatively straightforward. In many cases, you’ll have options from which to choose, and [...]
As major provisions of the Affordable Care Act (ACA) go into effect in January of next year, health insurance is more relevant than ever to many Americans, a June 2013 Kaiser Health Tracking Poll found. That includes young adults, a group that “many have speculated may be resistant to getting coverage under the ACA,” the Kaiser [...]
This year, our household has the biggest medical expenses we’ve had in a decade—and we’re not alone. My Webmaster is facing over $25,000 in expenses not covered by his family’s high-deductible insurance policy. Are you hurting, too? If so, there may be tax implications. Let’s look at what has changed since last year and find [...]
Health care and insurance costs continue to rise. To offset the ever-increasing price tag, some families are turning to a health savings account (HSA) to help them make the most of their health care dollars. With an HSA, it may be possible for you to offset some of the costs related to health insurance. What [...]
The Health Savings Account is a tax-sheltered savings account similar to the IRA, but earmarked for medical expenses. Like an IRA, deposits into health savings account are 100% tax-deductible for the self-employed and can be easily withdrawn by check or debit card. HSAs can accumulate from year to year, if you're healthy and don't need to use the money.
How can someone who has a health "history" get covered by health insurance benefits? There are several resources for those who are self-employed or unemployed to find health insurance. Even if you have preexisting health issues, you can get health insurance, but you're challenge is getting it an an affordable cost.
If you are in dire financial straits because you are unemployed or don't have insurance, and if you can't afford to pay for your prescription drugs, help is available. Almost all of the major drug companies offer a patient assistance program in which your prescription drugs will be made available to you at a greatly reduced price or for free. You can check with the individual drug company, either by visiting the website or calling headquarters on the telephone, for more information. Also, ask your doctor to check with the pharmaceutical representative when he or she is in the office.
As the cost of health care rises, so does the cost of health insurance. As health insurance costs rise, employers are putting more of that extra cost on employees. Employees are facing higher health insurance costs because doctor and hospital fees are going up, as are the prices for prescription drugs.