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.
Could Increasingly High Drug Prices Kill You?
A recent article from Managed Care magazine shows that many Americans are struggling to keep up with the high price of prescription drugs. Deciding whether you can afford to buy something you want, like a new dress or phone upgrade, can seem like a tough decision, especially if it is just out of your financial [...]
What to Consider When Choosing Healthcare Plans
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, [...]
A Beginner’s Guide to Finding and Buying Health Insurance
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. [...]
HMOs, PPOs and EPOs: Choosing the Right Health Insurance Plan for You
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 [...]
How to Pay for Long-term Care Without Breaking the Bank
Many seniors in the United States will have to find ways to pay for long-term care, either in a residential setting, such as an assisted living home, or at home through a home health or home care service. The cost of these services is generally high—between $2,000 and $5,000 per month for full-time care—and can [...]
Watch Out for These Four Health Insurance Scams
With the rollout of the new health insurance exchanges, there’s a good chance that a few health insurance scams will also be rolled out to unsuspecting consumers. Don’t be duped. Here are a few of the most common scams: 1. Fake health insurance plans. High-pressured salespeople may insist that you join a “union” or “association” [...]
Insurance Deductibles, Copays and Coinsurance: What’s the Difference?
Choosing the right health insurance plan can be a daunting task. In addition to deciding which coverage best suits your needs, you also have to cut through the jargon to ensure you’re accurately comparing health plans. As you shop for insurance, you’ll likely see four terms over and over again: premium, copay, coinsurance, and deductible. [...]
How the Affordable Care Act Will Make Shopping for Insurance Easier
The Affordable Care Act and health insurance haven't had it easy in the media lately, but the Affordable Care Act should make shopping for health insurance easier for small businesses. While businesses have another year to make sure they’re compliant with the Affordable Care Act, it doesn’t mean small business owners should wait until the [...]
Three Tips to Help You Find a Health Insurance Plan
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 [...]
Three Tips to Maximize Your Medical Tax Deduction
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 [...]