Friday, 21 August 2015

Prescription Drug Insurance

Some health insurance policies do not provide for
prescription coverage and a separate policy must be
purchased for prescription medications.

This is an area where it pays to do some homework and
research and find the best policy for you.

'Prescription coverage insurance' is not a necessity;
like health insurance coverage, it is a calculated
risk, although the risk is not as high.

Usually you can buy prescription insurance at any
time, so if the doctor determines that you need an
expensive maintenance drug, you may opt in at that

It is important to know that if you presently have
prescription insurance you can usually only change it
at a specific time of the year, although you can add
new prescriptions, you can’t change plans.

The person who seldom takes prescription medications
probably does not need prescription insurance;
however, a person who takes maintenance drugs for high
blood pressure, diabetes, depression, heart disease or
immune disorders most likely needs insurance against
the high costs of drugs.

Prescription insurance policies usually have "tiers",
which usually means that a generic drug is at a low or
no co-pay, a tier 2 level may be the brand name
genuine, and a tier 3 may be a brand new expensive
drug that the co-pay could be a set high-percentage of
the cost.

In choosing prescription insurance, you should first
list the prescriptions that you take and the retail
amount of them. If you chose not to purchase
insurance, this would be your monthly cost.

Find out from the provider what the monthly premium
for you would be, then what the prescription co-pay
amount would be and add these two figures together.
Which is the less expensive alternative?

Wednesday, 30 October 2013

Levels of Health Insurance Coverage - The Basics

Health insurance, in this modern world of cancer,
heart disease, AIDS, diabetes, asthma, aging and
other diseases and afflictions, it is essential to
have some sort of health insurance.

There are many levels of health insurance coverage
available; unfortunately, like most things in life,
you get what you pay for, and good coverage can be
very expensive.

Top 10 Health Insurance FAQs
Top 10 Health Insurance FAQs 

The Basic Terms for Health Insurance

The Two Most Common Terms - in referring to health
insurance are premium, which is the amount paid for
the insurance, and deductible, which is your
out-of-pocket expense before the insurance pays your

For instance, you might pay $300 premium per month for
family health coverage, and your deductible might be $250 per
person, which means if you fell and broke your ankle
and went to the hospital emergency room, you would be
required to pay the first $250 of the bill.

You can purchase very basic catastrophic coverage,
which would carry a very high deductible and the
premium would be less than comprehensive coverage
which would have a higher premium and lower

It pays to invest the time to investigate various health
insurance options, taking into consideration your age,
your general health and the health of your family

Your employer may offer group health insurance, which
is most likely the least expensive option for you, and
usually the premium is deducted from your paycheck.

Health insurance is a calculated risk; can you afford
the premiums or are you willing to risk that you would
pay less out of pocket for medical expenses in a year

than the premiums would cost? Consider carefully.

Health Insurance FAQs -  Level 1

Q:Why should I have health insurance?

The cost of health care has risen drastically over the past few decades. If you do not have medical insurance to help pay bills, a serious injury or illness can be financially devastating to you and your family. If you don’t have coverage you can be exposed to high health care bills; or, if you have too little or the wrong kind of coverage, you won’t have enough protection...Read More Here