There's a lot of uncertainty surrounding the future of the individual health insurance marketplace. One of the plans for replacing theAffordable Care Act
is establishing high-risk pools for health insurance. Need a refresher on what high-risk pools are and how they work? You've come to the right place.
If the Affordable Care Act (ACA) is repealed, we could return to a world in which health insurance companies can deny applicants coverage or charge higher premiums if applicants have pre-existing conditions. Need a refresher on what constitutes a pre-existing condition? Concerned about the future of yourhealth insurance costs
? Let's take a closer look at what pre-existing conditions are.
Twenty six is a magical age under the Affordable Care Act (ACA). Until they turn 26, young adults are allowed to remain covered by their parents' health insurance plans. If your 26th birthday is right around the corner you may have a lot of questions, especially if you've never had to purchase your own insurance before. Not sure when to get health insurance? We'll tell you when to begin shopping around for a plan.
Under the Affordable Care Act (ACA), you can get hit with a penalty for being uninsured for more than three consecutive months. That means that just about everyone - including children - must have health insurance. But not everyone can afford to coverthe cost of their healthcare expenses
. Families who need help paying for healthcare for their children may qualify for CHIP insurance coverage. Read on to find out what CHIP is and who's eligible for this kind of health insurance program.
The Affordable Care Act has drawn plenty of criticism since its inception and President-elect Donald Trump has pledged to eliminate it once he takes office. With the inauguration drawing closer, there are two big questions to consider: Will Obamacare be repealed? And if it disappears, how will that impact the general public? Here's a look at how things could play out if President-elect Trump decides to ditch the healthcare law.
The open enrollment period began on November 1 and runs through January 31, 2017. If you haven't already done it, now's a good time to think about your health insurance and decide whether you should switch over to a new plan. There are a lot of different factors to consider whenchoosing a healthcare plan
, including the kind of benefits that the plan will provide. Read on as we explore the pros and cons of POS health plans.
As you shop for health insurance, you'll have to navigate through an alphabet soup of acronyms like HMO, EPO, PPO and POS. The key to getting the best kind of healthcare coverage for you and your loved ones is knowing what your options are. For starters, it helps to understand how PPO plans work and how they compare to other types of insurance plans.
Picking ahealth insurance plan
for the first time can be quite challenging. There are many different kinds of plans to choose from. And you may need to have coverage from multiple insurers in order to get all of the health benefits you and your family need. Trying to decide between an HMO plan and a PPO plan can be difficult if you don't understand the difference between the two insurance options. Here's the lowdown on what an HMO plan is and how it works.
Thanks to theAffordable Care Act
, the uninsured rate in America has plummeted. Now that folks can be charged a penalty for not having insurance, only 8.6% don't have healthcare coverage. While the hallmark of President Obama's presidency has made health insurance available to more Americans, healthcare costs remain high and in many places, they're on the rise.
Renting out a space on Airbnb is one way for homeowners and renters tomake extra money
. But it comes with a certain degree of risk. Having a guest trash your home or injure themselves while they're on your property could be a nightmare, especially if you don't have enough insurance coverage. Here's what you need to know about insurance before opening your home to guests.
Insurance is designed to protect you from life's curveballs. That's why it's important to have theright amount of insurance coverage
and to think about your insurance needs before purchasing a policy. Another thing you'll need to think about is how much you'll pay for your deductible. The number you choose can impact your bottom line, so you'll need to pick the right dollar amount.
Having your health insurance claim denied can be stressful. But just because your insurer refuses to pay for your treatment or services doesn't mean you need to rush to take out a loan or tap into yourretirement savings
. When your insurance company won't cooperate, it's important to keep in mind that you have options. Read on to learn about the steps you can take to get the healthcare coverage you need.
Ideally, a good homeowners insurance policy should cover the cost of repairing or replacing your home when disaster strikes. But even if you believe that you have enough coverage, your insurance company could still denythe claim you file
. If you're dealing with that issue, there's something you can do. Here are a few ways to respond when your insurer won't cooperate.
Buying a second home - either as a vacation getaway or a rental property - is a lot like purchasing a primary residence. For example, you'll need to make sure your new home has the right amount of insurance coverage in case disaster strikes. But there are unique risks involved with insuring a second home. Here's what you need to know about finding the right insurance policy.
Creating a solid asset base requires a commitment to making sound financial decisions. If you've been investing diligently, the last thing you probably want to do is lose that wealth. You might think that you don't need insurance if you have a fullinvestment portfolio
or lots of cash in the bank. But even the wealthiest investors can benefit from having some kind of insurance coverage.
A home is a valuable asset and it's important to make sure you're protecting your investment. Homeowners insurance is designed to cover losses resulting from fires, windstorms, hail and other natural disasters, but insurance companies often draw the line at hurricanes. If you live in a hurricane zone, here are some ways to make sure you have the insurance you need.
If you're enrolled in a high-deductible health insurance plan, you may have access to a valuable savings tool. Health savings accounts (or HSAs) offer a tax-advantaged way to save for future medical expenses. And if you manage to take care of yourself and stay healthy, you can use your contributions to build your nest egg. If you've got an HSA, here's how to make the most of it this year.
A market crash might not be the biggest threat to a wealthy investor's nest egg. In fact, future medical costs can potentially eat up more of your savings. And if you require long-term nursing care at some point, you can expect it to come with a high price tag. According to a study from Genworth, the median annual cost of a private room in a nursing home is just over $91,000.
We all know that it's possible to change our health insurance plans duringopen enrollment
. But what if you want to change your insurance at some point in the months between open enrollment periods? Well, you can't do so on a whim. You may be able to take advantage of a special enrollment period, but only if you've had a qualifying life event. Here's how it works.
An umbrella insurance policy adds an extra layer of protection to your liability insurance. If someone decides to sue you, umbrella insurance can cover you. If you don't have many assets, you might not need umbrella insurance. But if your net worth could make you a target for lawsuits, you might want to consider getting an umbrella insurance policy for peace of mind.
Open enrollment begins soon and many Americans will have a chance to make adjustments to their healthcare plans. But let's face it - it could be tough tochoose the best coverage
if you don't understand the difference between a premium and a deductible. That's where our guide comes in. We define 10 common healthcare terms that you'll want to know before picking another plan.
If you have health insurance, now's the time to start thinking about any changes you may need to make to your policy. Open enrollment for people who purchased their coverage through the federal healthcare marketplace begins in November, but some employers offer theirs even earlier than that. You only have a small window of time to make changes, so it pays to be prepared.
If you read our piece on thetop 5 reasons to have disability insurance
, you're probably wondering what to do next. What are the factors to consider when shopping for disability insurance? Let us break it down for you.
Human nature being what it is, we tend to underestimate the chances that misfortune will come our way. Our internal monologue goes a little something like this: Who me? Die? Never! I don'tneed life insurance
. We often apply the same faulty logic when it comes to disability insurance. We just don't think it could happen to us. Here are 5 reasons we should reconsider:
Home insurance is a form of protection for what is likelyyour most important and expensive asset
, as well as for the contents inside. Should disaster strike, your insurance company will be there to help shoulder the financial burden. Deciding on what form of home insurance can be a difficult task, however. What’s more, deciding on which home insurance provider can be even trickier. So to help out, we looked at all the major candidates and ranked the top 10 home insurance companies:*
We've all heard the clever pun about what happens when you assume, but there are indeed real-life consequences tomistaken
assumptions, and they can be expensive. A few years ago, the National Association of Insurance Commissioners released a survey that found a large percentage of homeowners had misunderstandings about what is covered by their homeowners policy. The survey found that 68 percent of people thought a car or boat stolen from their property was covered. They're not. Twenty-two percent believed that stolen pets are covered. They're not. The list goes on and on. Here are some of the top assumptions homeowners make about their insurance:
Although the economy seems to be back on solid ground following the recent recession, the fallout from the housing market collapse has had a lasting impact on millennials. The definition of a millennial is usually someone born between 1978 and 1999. Considered one of the most financially conservative generations since the Great Depression, millennials tend to take a cautious approach when it comes to things like saving and investing. It's surprising then, to learn that as a group, young adults are often drastically underinsured. If you're a member of the 18 to 35 crowd, these are the most basic types of coverage you need to have.
I hate being sick for two reasons. First, feeling gross is, well, gross. Second, it forces me to spend money on things I need (cough syrup), not things I want (concert tickets). When it was time for me to get a new health insurance plan, I got a bit overwhelmed, contemplated moving to Canada and then buckled down to put my health economics knowledge to practical use.
Many people who get their health insurance through their employer aren’t aware of the true cost of health care. Employers generally subsidize a majority of the cost so the premium you pay via payroll deduction isn’t even close to the full amount. If you’re curious what this number is, ask your HR department or look for the amount as part of your total compensation package.
Thanks to tighter lending restrictions and rising home prices, more people than ever are choosing torent rather than buy
. According to the National Multifamily Housing Council, renters account for more than one third of all U.S. households. Renting can be less expensive than buying since you're not shelling out money for things like maintenance, repairs, property taxes or homeowner's insurance. The downside is that if something happens to your rental property, your landlord isn't responsible if your personal possessions are damaged or lost. Having renters insurance gives you the protection you need but there are a few things you to keep in mind when buying a policy.
It’s no secret that the Healthcare.gov website has been plagued with issues since its inception. Personally, I didn't think I would have to deal with them. My husband worked for a large international company and we received our benefits from them. I didn't worry too much about the drama or backlash surrounding it. What I didn't know at the time is my husband would be offered an amazing job in the beginning of this year and he would be leaving his old company and healthcare behind.
Health care coverage protects you if you get sick or injured whilelife insurance
takes care of your family if you die unexpectedly. Medicare and Medicaid are designed to cover some of the costs of aging but an extended illness could easily wipe out a lifetime of savings. Long-term care insurance can help to fill the gaps but it's not necessarily right for everyone. If you're wondering what long-term care insurance is or whether you should shell out money for this type of policy, here's what you need to know.
Flexibility and freedom are just two of the advantages that go along with being your own boss. Taking the plunge into being self-employed can be financially rewarding but if you don't have a sizable bankroll of cash sitting around, you may need to cut corners until you start seeing a profit. While it's important to keep your overhead down, one thing you can't afford to skimp on is insurance. If you're planning to start your own business orlaunch a freelance career
, here are five important types of insurance you'll need.
Between juggling classes, work and a social life, the typical college student already has enough on his or her plate without adding concerns about health insurance into the mix. Even though coverage may not be required by the school, the Affordable Care Act mandates that everyone have a minimum level of medical coverage. The upside is that thanks to Obamacare, students now have more options than ever when it comes to safeguarding their health.
If you're looking to trim your budget, shopping around for a better deal on car insurance is a good first step. While reducing your coverage is one way to lower your bill, it could end up hurting you in the long run if you wind up in an accident. If you're looking to keep your existing coverage but pay a little less, it may be worth it to consider a usage-based policy. Depending on how much you drive, you could end up saving hundreds or even thousands of dollars a year by making the switch.
The new year saw key provisions of the Affordable Care Act take effect, including the mandate requiring most Americans to have health insurance or pay a tax penalty. In late 2013, state and federal health insurance exchanges were established to help the uninsured find affordable coverage.
One of the advantages of working for a large company is that you're typically able to get health insurance as part of your benefits package. When all of your income is generated by freelance work or a business you're trying to build, you're stuck paying the premiums on your own.
$470 billion dollars. Can you even wrap your head around this planet-sized number?
Americans spent over $55 billion on their pets last year, according to theAmerican Pet Products Association
. The largest percentage went towards food. But pet owners shelled out approximately $13 billion just for veterinary care, up 40 percent from 2006.
A trip to the ER can be a frightening experience, especially if you've suffered a serious injury or you're having an unexpected health crisis. Once you're on the road to recovery, you may get another shock to the system when the medical bills start to arrive. According to an NIH-funded study published earlier this year, the average cost of treatment in the emergency room is 40 percent more than a month's rent. It's only expected to get higher.
If you're young and healthy, chances are you probably haven't given much thought to what would happen if you suffered a life-threatening injury or developed a serious illness. In the event that you become incapacitated, it's important to ensure your voice is still heard when it comes to the type of care you receive. Drafting an advance directive can give you more control over your health care decisions.
With key provisions of the Affordable Care Act set to take effect in 2014, millions of uninsured Americans are wondering how much they'll have to fork over for health care coverage. The national and state-administered health insurance exchanges opened today and there's already been a substantial amount of public and political speculation as to how much Obamacare will really cost.
One of the most time-consuming aspects of visiting a new doctor or changing your health insurance is filling out your medical history. After you've filled out a mountain of forms, you'll be asked to sign a Notice of Privacy Practices, which is required by theHealth Insurance Portability and Accountability Act
. If you're concerned about who has access to your medical records or how they can be used, you need to understand what protections HIPAA provides.
The future of health care is here. Regardless of your personal political views or even your opinion of the Affordable Care Act, also known as ObamaCare, the next big phase of the law will go live on October 1st
of this year with the start of open enrollment in the health insurance exchanges. If you don't know or are just not sure how they work you are not alone.
Health insurance is designed to help cover the costs of your medical care, whether you're going in for a routine checkup or undergoingemergency surgery
. Comprehensive plans typically cover both major and minor medical care expenses, but every policy is different. If you're concerned about the possibility of developing a serious illness, such as cancer, you may want to consider purchasing a disease-specific policy.
In the U.S., there is growing national concern over the obesity epidemic. According to public health workers, anyone with a body mass index (BMI) over 30 is considered obese. Nearly, one-third of Americans are obese today, and it is estimated that by 2030, 42% of Americans will be obese. Obesity is a major concern for a number of reasons, many of which center around the healthcare costs associated with obesity.
The past few months have been very exciting for same sex-couples. One of the most exciting occurrences was the Supreme Court’s striking down of Section 3 of the Defense of Marriage Act, also known as DOMA. The Supreme Court’s decision made way for a number of significant advancements for same-sex couples when it comes to taxes and nursing homes or living arrangements for elderly same-sex couples. One of the main arguments for same-sex couples who were championing the legalization of marriage had to do with tax and other benefits that heterosexual married couples enjoy. According to an article published by Slate by J Bryan Lowder, the U.S. Treasury announced that given the strike down of DOMA, same-sex couples will be recognized for federal tax purposes. The press release from the Treasury states, in part:
Unless you can tell the future, it's impossible to predict when a financial disaster may strike. A car accident, sudden illness or damage to your home can all wreak havoc on your bank account unless you have enough insurance to cover the loss. Car insurance, homeowners insurance, health insurance andlife insurance
are all must-haves for protecting your bottom line but there are several types of insurance that you can live without. If you've purchased any of the following policies, you could be spending money on coverage you don't really need.
Sometimes you just need to get away. But if you haven't planned out a vacation, are you doomed to spend tons for airfare and hotel rooms at your preferred destination? The answer is no! Here are a few helpful tips to help you save money on your last minute vacation.
We’re not happy with our car insurance companies. We’re not angry with them either. We're just not as thrilled with them as we were last year according to JD Power, the global marketing information services company. JD Power is the company most often mentioned at the end of car commercials when they tell us how much people love their Chevys or Fords or Chryslers.
It's everyone's worst nightmare, you walk in your front door and your house is trashed. In my nightmare there's 10 inches of water covering the first floor and my cat is floating on top of an ottoman like some sort of bizarre version of the tiger in the Life of Pi. Than the cat says, "If your insurance doesn't cover this I'm outta here!" In my nightmares the animals always talk.
You always knew when it came time to add your teenager to your auto insurance that it would increase your premiums. Chances are you had no idea just how much. While the actual increase varies by state, according to a new report on InsuranceQuotes.com, the average increase to a married couple adding a teenager to their auto insurance is eighty four percent!
When it comes to shopping for auto insurance more and more customers are turning to the internet for help. According to a J.D. Power and Associate’s study in 2012 upwards of 65% of auto insurance shoppers, visited the website of at least one insurer or quote aggregate. The numbers also rose for shoppers who relied solely on the internet for purchasing their auto insurance.
It’s that time of year again. The sun is shining, weather is warm, and the beach is calling your name. This is the time of year when Americans take vacations and decide to get away for relaxation and fun. For many, car rentals will be a part of their vacation and travel expenses. Luckily, there are some ways you can cut down on the cost for your car rental.
More than one third of American adults are obese. With their average medical costs being $1429 higher than someone who is not overweight, it was about time that the government took notice and did something about it. The Affordable Care Act is doing just that. In the past there were a small handful of insurance companies that helped those who were trying to lose weight, however with Obamacare, most insurance plans are now required to help obese patients lose weight. The methods they cover may vary from plan to plan but one thing is for sure – we are finally getting the help we need to fight the war on obesity.
Many travelers purchase short-term insurance before they leave on their vacations in order to have coverage in case of unforeseen emergencies. However, these quick-fix travel insurance plans don’t always leave you as well-covered as you would like. We looked at Travel Insured, Travelguard, and Allianz Travel Insurance to see what travel insurance actually covers, and what may fall through the cracks.
The Affordable Care Act, aka Obama Care became law a few years ago. While some of the provisions of the law have already taken effect, the big stuff does not take effect until 2014. This monumental piece of legislation will take a full eight years to roll out completely and will ultimately provide health insurance coverage to the overwhelming majority of Americans.
On October 29, 2012, the totally unexpected happened when Hurricane Sandy descended on the east coast of the United States like a belligerent running back. The super-storm forged a path of destruction, ravaging areas such as Staten Island, Manhattan and large swaths of New Jersey. Power failures, flooded underground transport tunnels, fires, wind and waste water contamination each threatened to turn New York City and the tri-state area upside down.
The first time I heard ofKickstarter
was when a musician friend used it to publicly finance her new album. Using only a webpage, endearing pleas for support and promises of thank-you swag in return, she grew a rally of dedicated financial supporters across the web-o-sphere in the span of weeks.
Homeowners insurance (HOI) is a must-have for anyhomebuyer
, and will likely be the most demanding portion of your budget. There are several different types of homeowners insurance and it is helpful to know a bit about each in order to decide which one suits your needs best. You’ll also want to know exactly what your policy covers, so make sure to shop around for the best price.