Are you prepared to cover unplanned out-of-pocket costs? 58% of Americans have less than $1000 to spend on out-of-pocket expenses. When unexpected healthcare costs come your way these coverages can help meet your needs.
If you’re wondering whether or not you need dental insurance, the first thing you should know is that medical insurance doesn’t cover most dental services. You can develop oral or dental issues at any time, either from not taking care of your teeth or as a result of an illness or accident. Dental insurance provides you with coverage that can save you money and help ensure a healthy mouth.
· It is a well-known fact the mouth is a window into one’s overall health. Dental hygiene and health are directly linked to health in other areas of the body,
· Preventative benefits ensure problems are found early
· You’re protected from financial risk
· Peace of mind; your smile is protected
· Dental Preferred Provider Organization (DPPO): Dental PPOs have a network of providers to choose from. You can opt to see a dentist outside the network, but your costs will be higher. You are not required to choose a primary care dentist
· Dental Health Maintenance Organization (DHMO): You are required to choose a primary care dentist from the network. These plans typically do not provide coverage if you choose to see dentists outside the network (there may be exceptions for some emergency services). Networks may be smaller and more local. Usually lower premiums
· Dental Savings Plan: You are given a dental discount card, which you present at the office to get the lower prices on services. These plans don't reimburse the dentists as regular insurance does. Instead, you pay the dentist directly. But remember, you must use a dentist in your plan's network in order to get any discounts.
It is important to find the plan that best fits your needs. Someone who routinely uses preventative services and little or no other coverages doesn’t need as extensive of a plan as someone who has a lot of dental issues.
Your eyes are constantly changing. It's just a fact. Vision insurance makes sure those changes don't lead to problems in the long term. Eye doctors are often among the first to catch chronic health conditions like diabetes and high blood pressure. So it’s not just about your eyes.
Some basic vision benefits are included in all policies and plans. These basic vision benefits typically include routine preventive eye care, including eye exams and prescription eyewear like eyeglasses and contact lenses.
More comprehensive plans and policies expand coverage to include specialty options like eyeglass lens coatings and enhancements, such as anti-reflective coating, photochromic lenses and progressive lenses. These eye care plans and policies may also offer discounted rates on elective vision correction surgery like LASIK and PRK.
Most adults need vision correction: 66% of Americans 18 and over report using glasses, contacts or both, according to the National Eye Institute. Having vision insurance can reduce your out of pocket costs.
Accidents happen: 1 in 7 Americans each year seeks medical care for injuries. You cannot prevent accidents from occurring. However, you can be prepared for the expenses that often follow. After an accident things like lost wages, out-of-pocket costs, mortgage, rent, other bills, child care, transportation, co-pays & deductibles, recovery & rehabilitation and many other expenses may occur. Many plans also provide Accidental Death Benefit.
Accident Insurance can be for an individual or a family plan. What type of services does Personal Accident Insurance pay benefits for(may vary)?
· Ambulance
· Hospitalization
· Initial Services, Emergency Center, Urgent Care Center, Physician’s Office
· Diagnostic Exams: CT, MRI, EEG, Laboratory tests, X-rays, etc.
· Outpatient Surgery
· Rehabilitative Services: physical, occupational and speech therapy or chiropractic services
· Durable Medical Equipment; wheelchair, crutches, etc
By pairing Accident Insurance with your medical plan, you can extend your protection to help with those unexpected costs, so you can focus on healing.
A major health event like a heart attack, stroke or cancer can quickly throw a family into financial crisis. Critical illness insurance provides a lump-sum benefit upon diagnosis of a covered disease regardless of any other insurance you have. It helps ease financial stress during serious illnesses.
It helps pay the expenses traditional health insurance does not cover. You can use your benefits for mortgage, rent, other bills, lost wages, child care, transportation, co-pays & deductibles, recovery & rehabilitation and many other expenses.
Types of conditions Crtitical Illness Insurance covers (may vary with plan):
Heart Attack, Stroke, Corornary Artery Disease, Invasive Cancer, End Stage Renal Failure, Major Organ Failure, Alzheimer’s Disease among others.
Some plans will pay benefits for a re-occurrence of a disease. Additionally, plans may pay for a specific listed disease and if diagnosed with a different specified disease, you can receive another cash payout, usually up to three different specified diseases. Plan benefits usually run from $10,000 to $50,000. However, some plans may cover up to $100,000.
For many people, it may be hard to believe they will ever be diagnosed with cancer. Cancer is the second leading cause of death in the U.S. And according to statistics from the American Cancer Society, one in three Americans are at risk of developing an invasive type of cancer.
There are a couple of different types of Cancer Insurance:
Indemnity policy: Indemnity plans pay a specified dollar amount for each individual covered treatment.
First diagnosis or first occurrence cancer policy: This policy pays you a lump-sum cash benefit upon the first diagnosis of cancer. No benefits can be denied due to a pre-existing condition if the cancer is diagnosed after the effective date of the policy.
Cash benefits can be used for copays or coinsurances, mortgage or rent, other bills, child care and everyday living expenses. The benefit can also be used for indirect costs not covered by health insurance. These include modifications to a home; ramp, bathroom remodeling, out of state travel for treatment, in home services and many others.
Some plans will pay benefits for a re-occurrence of a disease. Diagnosis/ Occurrence Plan benefits usually run from $10,000 to $50,000. However, some plans may cover up to $100,000.
Hospital Indemnity plans pay out a specified, fixed-amount benefit for each day you’re in a hospital due to a covered sickness or injury. Most often, Hospital Indemnity insurance allows you to choose a per-day cash benefit amount and a benefit period, which is the maximum amount of days the policy will pay. Generally, per day benefits range from $100 to $900.
Many Hospital Indemnity plans offer optional riders that provide benefits for observation stays, ambulance rides, outpatient surgeries, and therapy visits. Some policies even cover doctor office visits and urgent care visits.
You may have to go through underwriting. Underwriting consists of the carrier analyzing your background and health status, ensuring that you meet the requirements. Underwriting for hospital indemnity insurance usually consists of answering a health questionnaire on the application. Carriers will look at any pre-existing conditions. Severe pre-existing conditions, such as cancer or stroke may result in the policy being declined. This means you can’t obtain hospital indemnity insurance. Of course, if you develop these conditions after obtaining hospital indemnity insurance, the policy will continue to cover you.
Because there’s no place like home
Recovery from an accident or illness in a hospital or nursing home can be challenging and expensive. Home Care insurance plans can help you recuperate at home. In home recovery and treatments using skilled assistance can often be just as effective as other professional environment options.
This coverage will pay a weekly benefit for in-home-care by a home care practitioner. Home care services must be medically necessary. The plans consist of weekly specified benefit with lifetime maximums. Additionally options may have wait periods. Rule of thumb weekly benefits run up to $2000 per week. Your premiums vary based on the weekly amount and any optional benefits you may include. Optional benefits may include; daily hospital indemnity, lump sum cancer rider, ambulance and Emergency Room visits.
Medically necessary in-home professional and personal care may include, but not limited to; skilled nursing care, physical therapy, occupational therapy, speech therapy, nutritional services, home health aide, and medical social services.
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