Category Archives: Finance

How to arrange finances during medical emergencies?


Everybody wants to avail benefits of medical insurance policy and they start investing in health products. These policies are the best financial security in case of medical emergencies. These insurance company pay your treatment expenses, for  paying upon the premium towards the company. But, in order to avail the related benefits, you will require searching for a trustworthy organization that can settle your claims in a timely manner.

Medical insurance is a type of insurance coverage which covers the cost of the medical and surgical expenses of the insured individual. Depending on the type of health insurance coverage, either the insured pays costs out-of-pocket and is then reimbursed, or the insurer makes payments directly to the provider who in return takes care of the expenses upto the decided sum as per the policy agreements. In health insurance terminology, the “provider” is a clinic, hospital, doctor, laboratory, health care practitioner, or pharmacy. The “insured” will be the owner of the medical policy, i.e the person who is covered with the health care coverage. A medical insurance policy mainly covers disablement, accidental death, family transportation, emergency ambulance cover, transportation of medicines, purchase of blood, etc.

Most people cannot afford to pay the rising cost of health care on their own. Therefore, you opt for a health insurance facility under which you pay a premium each month, and your insurer pays for a portion of the covered medical costs. At the background of the story, it is believed that the insurer is better dealers and may be they are able to negotiate better rates from the doctors and hospitals. So instead of paying hundreds of rupees out-of-pocket costs for a doctor visit, or thousands for a surgery, you pay a lesser premium amount depending on your plan against which you are covered for around lakhs of rupees.

Many people have this misconception that medical insurance is used only when you’re sick, but it’s much more than that. You can avail the advantage of the preventive services your plan offers. By visiting your doctor regularly for check-ups and getting your recommended medicines, you’re more likely to prevent more serious conditions later on. Plus, many health plans offer awareness programs and discounts on health products and services.

How Medical Insurance Work?

When you become a member of a particular health plan, you come under a group of people chosen for the same set of plan. Insurers categorize it as a risk pool as they measure the amount of risk associated with those people under the stipulated plan.Some people are at high risk because they are not in good health and likely to use a lot of medical services.  While others are at lower risk because they are healthy enough and need less medical services. So, they pool is decided upon your medical conditions.

Apart from this there are unexpected illnesses or injuries which can happen to anyone. Based on these factors, health insurer calculates the estimate money that will cost to cover the collective medical expenses for everyone in your desired plan.Each member of the plan pays a monthly rate or premium.

While buying a health care cover, you and your health insurer will share the covered medical costs. Your plan will outline your out-of-pocket expenses for each service — whether it’s a co-pay, deductible, or co-insurance. For some years you may require lots of medical services, while other years you may need less, but having a medical insurance policy in place balances your expenses and avoids paying the full cost of medical services on your own, at any point of time. If medical costs are exceptionally high, your health insurer will adjust rates from time to time.

Health Insurance Policy India

health 356

In India health insurance has been a matter of worry for people. Having various misconceptions people stay uninsured and face health related difficulties while seeking treatment. Here, the better option would be to clarify the doubts and get a get familiar with the true role of health policy India. There are several features and benefits that people are unaware of. Hence, they ignore the provision like medical insurance and prefer to pay the bills from their pocket.

Medical bills are not easy to afford in today’s date. The treatment cost has shown steep rise in recent past. Where on one hand, the technological advancement has brought better healthcare facilities at the same time it has increased the expense creating a huge gap between treatment cost and people’s pocket. Health policy India tries to build this gap. It aims at bringing these medical care facilities in reach of all. The prime aim of all health insurance providers is to ensure wellbeing of people at large irrespective of their budget frame.

Today health policy India offers plans in abundance. They neither burden the person with the expenditures nor let them worry about the health care. Rather one such health plan entitles the insured to the best medical treatment in time of need. Equipped with wide ranging benefits, the policies allow the insured or covered members to enjoy maximum benefits at reasonable cost.

Medical insurance provider not merely thinks about your healthy future but also ensures a safe future to your dear ones. It has arrangement for securing the health of dependent members. Offering plans in the form of family floater or group health insurance, it has made easy for all to get insured and avail insurance benefits.

Devoid of any hassle, the policy enables the person to travel a smooth healthcare journey. In one health insurance plans and at the cost of affordable premium, they look after the healthcare needs of all covered members.

In addition, you can get the coverage as per the need. Be it in the terms of healthcare needs or affordability limit, health insurance companies provides easy solution. The different health plans like travel insurance, personal accident insurance and other health insurance policies are ready to serve people with varied healthcare needs. On the other hand, health policy India aims at covering maximum number of people by framing products with policy variants. In this way, solution for all healthcare worries is available. There is just a need to take a step ahead and get oneself secured from such risks of life.

In the form of medical insurance benefits, you can even get the extended coverage for lifetime. The feature of 100% lifelong renewal makes it possible for all insured people. With this, the insurance company makes a promise of giving insurance coverage for whole life. The timely renewal can help you access this facility as and when required in life.

Choose an affordable and suitable health policy India to enjoy best health treatment without any monetary stress. Before any health contingency ushers into life, it is better to be prepared for it. Adhering to the personal budget allowance, make the best pick. You must make sure that the chosen plan will be able to fulfill maximum of your healthcare needs. In Indian health insurance market, Apollo Munich insurance policies have earned the trust of millions of people. It has served people with quality medical care services. Its uncomplicated health insurance procedures make it simple for you to buy a medical cover in a much easier way.


Compare Health Insurance Online Before Buying

health insurance 4

As we all are well aware about the importance of a Health Insurance in one’s life, it becomes increasingly important that we make sure to compare insurance quotes before making a purchase. Choosing an insurance policy which best suits your needs and fits your pocket as well is undoubtedly a tedious task, requiring a lot of research and effort too. Specially, various insurance comparison websites have made the comparison process quite convenient particularly about the health insurance in India. Thus, it is necessary enough to go for a detailed online comparison of quotes available on the websites of various service providers.

There are a number of factors such as the premium, coverage amount; list of hospitals covered etc, which need to be considered before buying insurance. Yet people do this quite often and it is only because they did not compare insurance quotes and feature online. Nowadays, there is a wide availability of online health insurance quotes provided by various service providers on a single website. There are a number of such specialized websites which accommodate all such services on a single platform. That is why, making a cost and benefit comparison among a number of policies would be the wisest move to make. Doing this would not only save you money but will also guide you towards choosing an ideal insurance policy which satisfies your requirements in the best possible manner.

Another reason to go for an online health insurance comparison is that every individual has different healthcare needs. This may include any pre-existing conditions, number of dependents in our family, your area of residence, and so on. Therefore, an online comparison would help you realize your exact needs and enable you to find out right policy as per your specific requirements. Yet another advantage of comparing different policies is that the results from an online comparison give you unbiased results. So it is vital to conduct your own comparison and know exactly what the difference is among different policies.

Finally, a well-suited health insurance comparison would save you a great deal of time and a lot on efforts in choosing the right insurance policy. Thus, it is sensible and simple as well, to go online and compare a number of policies and make a healthy choice of health insurance. The bottom line, ultimately, is that you acquire an affordable insurance policy you are pleased with.

If you are looking for the best health insurance then Quick insurer is an ideal place to end your search for a perfect health insurance plan. You have the facility of easily comparing and choosing between a number of different plans, their premiums, coverage amount and their features.



Do You Know What Factors Determines the Cost of Health Insurance?

family floatar

Major factors that determine the cost of health insurance.

The cost of health insurance effects everyone, those who are starting their own business or getting married. There are number of factors which determine these cost, including your insurability, your health condition, your choice of plan, your location, your age, and gender. Some plans cost less, however, and some people pay less for their insurance, that’s because these specific factors are calculated into the cost of health insurance.

There are two main categories of health insurance, individual health insurance and group health insurance. Group health insurance is supplied by your employer, so the factor determining this type of insurance are related to the choice by the human resource department of the company and the people who make up the group. Individual health insurance is a contract between you and the health insurance company and is based on your individual health and lifestyle. An individual plan may include you and your family.

Here are a summary of the contributing factors that affect the cost of health insurance:

  1. Your Insurability

With group health insurance, the health of the entire group is taken into consideration in order to determine the cost. With an individual plan the health conditions of you and your family are evaluated. Therefore, an application must be filled out to include the health conditions and questions for all those wish to be covered by the plan. With an individual plan, an insurance company can choose to deny insurance to someone who has pre-existing health problems. An important question to consider when taking out an individual health policy, is are you insurable.

  1. Your Health Condition:

Your health condition are an important ingredient of the underwriting process. When you apply for health insurance coverage, companies interview and dig up your personal and health history. They carry out laboratory test, such as urine and blood sampling that will determine your health conditions. When illnesses are found and when particular disease run in your family, such as high blood pressure, diabetes, heart disease, cancer, and other diseases, chances are it will affect your premiums.

Because tobacco use affects your health, people who smoke or use tobacco products will pay an additional premium based on their smoking status. This could be an additional 10% of premium, depending upon the company.

Maternity is generally not covered on an individual plan, unless a rider is offered. There is an additional cost for maternity insurance. Many plans may cover complications of pregnancy even if you do not have maternity insurance.

  1. Your Choice of Plan:

The plan that you choose will affect the premium you will pay. The more risk you assume, the lower the premium. The more risk the insurance company assumes the higher the premium, your risk is best summed up in the term “Out of Pocket Maximum” This refers to the maximum money you would pay for co-payments and deductibles. therefore the plan selection has an impact in what health insurance will cost. The plan options such as prescription drugs, office visits and dental will also impact a health plan.

  1. Your Location:

Another factor which helps determine your insurance is where you live, your county and zip code will be used to determine your premium, the more rural counties are less expensive than urban counties. Larger cities tend to have higher costs than smaller towns, and coastal areas tend to cost more for care than middle America.

  1. Your Age and Gender:

The older you are the more expensive your health insurance will be. The reason for this is because as we get older we have more health problems and go to the doctor more often, and premiums increase as you get older.

Also younger men usually have lower premiums than women of the same age, women are more likely to go to the doctor than men at these ages this means women pay higher premium than men do for health insurance. Men die sooner so they pay higher life insurance premiums.

When you understand the determining factors of the costs of buying and using health insurance, it’s easier to find the insurance plan that’s best for you and your family. Best of all, you’ll be able to get the most out of the insurance plan you choose.

What we do is design affordable insurance benefit plans for individuals and businesses that will meet the needs of our customers and clients.


Tips To Get Best Health Insurance


What a wonderful gift life is? How beautiful it seems when we wake up every morning. It feels quite fascinating, when we open our eyes and admire the beauty of nature around india. However, the same life doesn’t looks so adorable, when we are not well. Imagine that, one day we open our eyes, sick and trashed from inside due to our bad heath. The charm of life turns into rush and stress of running to the hospital. Reaching to the hospital also goes in vein, because the estimated cost of the treatment that doctor quotes, is way out of your budget. What shall be done to get the charm of our life back?

Most of the time, people fail to understand the importance of such a solution, which can be their escape plan from a situation like this. The key to escape plan is known as Health Insurance. For the people who are unaware with the term, here’s a short description for the same;

“A health insurance is an insurance coverage that covers the cost of an insured personal’s medical and surgical expenses.”

Why to be so careless? Why to wait for the catastrophe to strike first, when we can be prepared for it. We have internet with us today, where we can get affordable health insurance online.  Then, why it so that we are still not insured?

There are hundreds and thousands of health care insurance companies in the india, but how to find out which company shall serve your purpose optimally? Well, here are some points that might help you in determining the right insurance company.

Utility :-> Before choosing the Health Insurance Company or insurance policy, make sure that what shall be the use and utilization of that policy. Whether, the firm you are about to choose, is capable enough to give the coverage you are looking for. It is very important for us to confirm the utilization of any policy before we pick one.

 Awareness :-> We all are very much known to the fact that, medical and surgical expenses are touching the sky today. It is very important to have some or the other health coverage, so that any financial downfall can be avoided and there shall no hindrance in the treatment of the patient. Do ask the Health Care Insurance Companies that what type coverage shall be provided by them? What are the health issues that shall be covered by these companies?  What are the additional benefits that would be allowed by the insurance companies?

Sum Assured :-> Before we talk about the sum assured by the insurance companies? We shall first know that what actually this term means? Well, the maximum amount that can be reimbursed by any Health Care Insurance Company to a client is known as “SUM ASSURED”. Well, before you choose an insurance firm to purchase its policy, ensure that what shall be sum assured you shall be getting at insurance coverage.


Making Health Insurance Illegal- Imagine the Possibilities

health insurance 2.jpg

You know how you solve the health care issue? Make all subsidized health care illegal, make all insurance based health care illegal. Enforce self pay healthcare for everyone. Doctors would now be competing against each other for clients. Prices would reduce, and you would have people more focused on staying healthy and eating correctly and exercising. Every time insurance gets involved, it completely screws things up.

I found that comment on ZH- months ago.

Think of the possibilities. We wouldn’t just eliminate the middleman- we’d eliminate an entire blood sucking industry that wastes 1/3rd of every health care dollar on administrative costs.

We all pay our own way- what a novel idea!

The same thing occurred at colleges and universities in the last 1/4 of the 20th century. The education industry found a middleman, bankers, and greased their way to the highest tuition increases in the history of education. Think about that. That system, just like the health care system, is irretrievably broken.

Middlemen, whether they are health insurance companies or bankers, fuel greed while lining their own pockets. They have no interest in slowing the system down or making it accountable or cost effective. In fact, the higher costs go- the more the middlemen make. They want costs to escalate. They are not bearing the costs directly and thus the higher costs go- the more money they scrape off the top.

Until the systems break. Of course the consumer goes first. Then the system does. The tapeworms always go last, at some point after the host dies.

Wouldn’t you love to hit the reset button on those two industries? I can’t even begin to imagine the possibilities.


How to Buy Small Business Health Insurance


One of the key components of running a successful small business is workforce retention. As an employer, when you find good people who are willing to work hard and help you achieve your goals of success, you want to give them an incentive to continue working for your company. Offering health insurance benefits is a great extra that you can provide for your employees to encourage them to stick with you for the long haul.

Unfortunately, buying health insurance for your small business can feel a bit overwhelming, especially with the high volume of information saturating the Internet. You want to make sure that you choose a plan and provider that is going to supply the kind of coverage your staff needs to live healthy lives. Here are a few steps to follow that will guide you in purchasing the best health insurance plan for your company, while avoiding the headaches of sifting through mountains of information online.

Assess Your Needs

When you start shopping for health insurance you have to assess your needs first, as this will help clarify what type of policy you and your employees need. One of the first questions to ask is who the plan will be covering. Call a meeting with your staff to find out their current health insurance situation. Ask if anyone has coverage under their spouse or through another family member. It is important to know how many people and their families will need to be covered, as this will decide the type of plan you choose and will have a major impact on the overall cost of the coverage.

Group health insurance, which is the type of insurance used by small businesses, is usually regulated by state law. It is important to keep in mind that most states will require an employer who provides health insurance for its employees to pay at least 50 percent of the monthly premium. Remember that percentage when shopping around for a quote. If you find a plan below your budget that provides great quality care, you may want to consider chipping in a bit more than the minimum 50 percent as an extra incentive.

You will also need to find out whether your employees want to pay more up front when they are well and less when they are ill, or the other way around. This is a great conversation to have during the benefitis meeting mentioned earlier. Some plans have higher annual deductibles, but come with a smaller monthly premium, while others have a higher premium but lower deductible. Once you know where the majority of your employees stand, you will want to try and find a plan that has a good balance between the deductible and the premium.

Ask your team what kind of benefits are important to them, as this will also play a critical role in determining what policy you choose for your business. Federal laws will prohibit you from asking too many detailed questions about an individual’s private medical history, but you can still ask them if they want something that provides more coverage for prescription drugs, or if they are interested only in catastrophic health coverage. This would also be a good time to discuss whether or not your team is interested in add-ons like dental and vision care.