Economics Finance

The medical bills are piling up in the mail box. You can’t afford to pay them even with health insurance. Let alone without any insurance at all. So now you are considering bankruptcy as the only way out. Filing bankruptcy in the long run wont really solve the problem. What if you get sick again, and the bills start piling up again? You can always file again in 7 years but you may end up with two bankruptcies on your credit report. What is the solution to this stressful problem?

You can get someone else to pay for them. Especially if you are unemployed, and have large amounts of medical debt. Apply for the medicaid program through your state government. Whether you are a man or a woman you may qualify for aid. Although women, & pregnant women usually have a somewhat higher approval rate. You may even qualify if you have a mental disability like depression. Submit all of your bills along with the application. Continue reading ‘Filing Bankruptcy Due to Medical Illness is Not the Solution to Your Sleepless Nights’ »

A recent study shows that 62.1% of personal bankruptcy cases in 2007 were linked to medical expenses. Given our countries financial crisis it’s safe to say that this is an even bigger problem today in 2009. In this study released by Harvard professor Elizabeth Warren it showed that most medical debtors were middle class families that owned homes, were employed, and 75% had health insurance.

So what does this study reveal about our current health care situation? One serious illness can cause unaffordable medical expenses or a decrease in or lack of income which results in bankruptcy. Most families have nothing to fall back on if they become ill and lose their job, which consequently causes the loss of health insurance.

Most all bankruptcy debtors had some medical debt, but about half of the debtors, according to the study had mostly medical debt. While this study only encompasses a handful of bankruptcies, 2,314 to be exact, it does make sense. In 2005 laws were passed to make bankruptcy a bit harder to obtain, yet the numbers increased after a few years. Continue reading ‘Tough Times and Health Problems a Recipe For Bankruptcy’ »

In today’s fast changing world, purchasing health insurance has become the top priority in ones’ financial planning. More and more people are concerned about health insurance as the medical cost is increasing and it has become unaffordable for many people. As a result, in order to reduce the financial burden on obtaining health insurance, many people start looking for ways to save money on this medical insurance.

One of the most cost-saving ways is to look for catastrophic health coverage. It is the cheapest among all types of health plans which covers major medical and hospital expenses. It is also a high deductible health plan which is ideal for “catastrophic” incidents that would incur extremely high medical fee. Higher deductible can help you to save a lot on monthly premiums.

You can also participate in your employer’s medical insurance plan. In general, most of the employers direct a large volume of businesses to the insurance companies and they generally stand a better position to negotiate more favorable rates on medical coverage. You are able to save more money by joining the employer’s plan if compared with getting individual health policy directly from the insurer.

Continue reading ‘5 Practical Ways to Save Money on Health Insurance’ »

During recession, looking for cheap health insurance plans has become a MUST for everyone for the purpose of saving cost and obtaining health protection. Most of us need affordable health protection as health is the most important element in our life. Here are some useful tips on how to obtain the best price for health coverage through online search.

When someone needs the health insurance urgently, it doesn’t mean that he or she just simply grab any healthcare policy available in the market. A thorough research should be done tactfully for the purpose of getting the fairest and most affordable premium. It is proposed that you should make use of the free online insurance quote programs that will give you detailed idea about the insurance rates for individual health insurance needs.

Below are some of the famous online health insurance companies which provide you the best deal by clicking just a few buttons at anywhere anytime you like.

Continue reading ‘Simple Ways to Get Affordable Health Insurance Quotes Online’ »

In recent years, business health insurance has become quite a common way to protect people and have tax benefits too. But the trouble is, small companies cannot match the costs that the big organisations bank on to hook their employees and stop them from moonlighting. Now smaller and mid sized companies are passing on health benefits depending on the nature of work and employees. It is a good idea. The business does not suffer and the protection factor allows less attrition. A tidy business health insurance plan will evaluate costs, give staff options, network coverage. Also chose a better insurance company that offers some good deal on the insurance covers.

The following are some of the questions designed for the employers who would want to provide their employees with a good insurance policy.

* How much can an employer afford to contribute to the premium?
* What benefits will majority of the employees gain from it?
* Will offering employees more choices save or cost more money?
* Does the plan have an adequate number of providers for select from?

Continue reading ‘Make a healthy business decision’ »

The life is uncertain and in today’s accident prone world, anything may happen anytime without any prior notification. You must secure yourself and your belongings as to avoid a disastrous event in your personal, professional or social life.

Gone are the days when your grandpa traveled out of the hometown for the whole month and came back safely, he lived a perfect life with no hassles. The time has changed and so the living strategies. Today, a plenty of road accidents, thefts, robberies, natural and man made calamities have put our lives to a greater risk than ever and that is why, one has to opt for some life insurance, home insurance and other insurances that save our money, fortune and mental stability.

There are many ways to know about insurance policies as you can find different policies in a newspaper, magazine, pamphlets or you can simply go for insurance quote online! The internet is a non-ignorable medium to gather genuine information. You can ask for free insurance quote that majority of insurance companies offer. On the internet, you can simply compare different insurance policies and can choose between them. In some cases, the website itself will provide you with a solution that would help you to find the most appropriate insurance policy that suits your budget and requirement.

Continue reading ‘Insurance Policies – A Ray of Hope’ »