HIPAA (Health Insurance Portability and Accountability Act of 1996)
What is HIPAA?
The Health Insurance Portability and Accountability Act of 1996 (Public Law 104-191), also known as HIPAA, was enacted as a Congressional attempt to reform healthcare. The purpose of the Act is to:
- Improve portability and continuity of health insurance coverage in the group and individual markets;
- To combat waste, fraud, and abuse in health insurance and health care delivery;
- To promote the use of medical savings accounts;
- To improve access to long-term care services and coverage;
- To simplify the administration of health insurance; and
- Other purposes.
Title I of the HIPAA law deals with health care access, portability, and renewability with the intention of protecting health insurance coverage for workers and their families when they change or lose their jobs. Title II of the law, also known as “Administrative Simplification”, deals with preventing health care fraud and abuse. Read more
Student Insurance Issues- Options for Students on a Budget
When you are a student and on a tight budget it helps to think about saving every penny, many of us have been there, in the student digs on our last few notes and yet we have to worry about where we are going to find money for our next bills, or things many people take for granted, like health or dental care.
In a recent study more than 10 percent of students currently are going uninsured. The general consensus for many students is that health care is a cost that they cannot afford, insurance provided through a college can often mount to over a hundred dollars every month. And yet one of the main causes for students to drop out of college is incurred medical bills and the heavy strain they can put upon your wallet. Read more
Should we Provide Insurance for the Less Advantaged? –The Continuing Debate on Health Insurance
For as long as medical provision has been given, it almost always has cost something, in the past and exchange was most likely in the form of the village shaman coming over to a farmer’s hut, applying a poultice and taking a chicken as his payment, now the currency is different and the relative price most definitely has increased but the precept remains the same. You have to pay for a skill.
In today’s modern world there have been many attempts at the reform of the health care systems as there is a slight problem here, what happens when the farmer doesn’t have the chicken to give? Maybe all his chickens died last winter, should he still get the poultice? The answer for most people would be ‘yes’ but sadly in a modern US market economy, profit comes prior to treatment. Read more
More about health insurance
The general statistics show that health insurance premiums have been rising faster than inflation in the business sector while the extent of the cover is being more narrowly defined. It is the old “less for more” syndrome. Insurance companies are not unjustified in raising their premiums. They can point to the rising costs of drugs and medical devices, and the increasing charges levied by hospitals, clinics and professional health care providers. Since their costs are rising and their investors expect a dividend, premiums must rise. Worse, the health of the nation is deteriorating. With an epidemic of obesity, the health services are buckling under the resulting waves of cases with high blood pressure, heart disease and type 2 diabetes. Unless there is government intervention to fund the national expansion of health care, the costs for all will rise. This gives business owners and managers a serious problem as the recession gathers pace and revenues fall. How does a business reduce costs without sacrificing the employees’ goodwill? Under normal circumstances, it would trade-off between the cost of the health plan and other benefits. But in this economic situation, it is likely that pay and benefits must be reduced if the business is to survive with full employment. Among small businesses, the number of employers providing health plans has dropped 10% in the last three years. Alternatively, a number of nonessential employees will have to leave to pay for continuing benefits for the survivors — painful downsizing.
One compromise tactic is to play the yearly “shuffle”. As an incentive to transfer business, insurance companies often offer a first year discount. So some small businesses look to transfer their health plan to a new carrier every year. This is a real administrative headache and inconvenient for all the employees to switch doctors, but it does save money. The great hope was that businesses would pool their insurance and negotiate their cover as a group. Insurance companies have mostly won the war against this both as an initiative of business associations and at state level. California, for example, attempted to combine features of the individual and group market. This was not a great success. This leaves business with the choices of increasing the deductibles or making the co-payments or paying the expenses fo the employees. These are slightly risky options because, unless limits are written into the commitment, a serious accident involving one employee or one long-term illness can swamp the budget. However, this is a balancing of cause and effect. In any group plan, major costs incurred by one can also drive up the premium for everyone in the plan. Read more
Understanding Health Insurance Benefits
Many people purchase health insurance, but very few people take a look on their benefits. This is not fair, if you are not aware about services which are offered under your plan.
Understanding health insurance benefits is very important, otherwise it can be confusing in many cases, specially when you will make a claim to the insurer to avail the insurance benefits. Read more
Follow These Rules for Finding a Fair Health Insurance Policy
Looking for individual health insurance for the first time ever? I probably know exactly how you feel. This can all be pretty overwhelming at first, just as it was for me when I first had to begin looking for a policy for myself.
While I could have gone with COBRA for 18 months and worried about finding an individual plan later, I ultimately decided that it wasn’t worth doing this. COBRA was very expensive (over $400 per month for just me) and I couldn’t really afford something like that since I was going self employed. Read more
How To Be A Smart Shopper For Health Insurance
If the poor economy has cost you your job, and you don’t have health insurance, it can be challenging to find good coverage that’s affordable. I think it’s a mistake though, to base your decision for coverage simply on cost alone. Good health insurance is one of the most important things you need for you and your family, so take some time to get it right.
First of all, know the details of the plan. Who should be covered? Should it be just yourself or you and your spouse? If you have children what about them? After you decide who needs coverage, answer these questions about health insurance policies. Read more
What Does A Fee For Service Health Insurance Plan Entail?
Fee-For-Service Health Plans Offer A Lot Of Freedom For Policyholders
There are many types of health insurance plans available, and one popular type is known as a fee-for-service health insurance plan. With this type of plan your insurance company will cover part of the fees that you are charged when you receive medical care. This type of policy is also referred to as a indemnity plan. A fee-for-service plan is superior to many types of health insurance policies because you get a lot of freedom when choosing health care providers and facilities. With most plans you are able to choose any doctor or hospital you want anywhere in the country.
Blue Cross Blue Shield Insurance Company is one of the best-known companies that provide the fee-for-service plan. However, many other insurance carriers also provide this type of plan. It is common for this type of plan to be offered through employers or through trade associations in order for the policyholders to get group rates. Although group rates are many times available, this type of insurance policy is usually one of the most expensive types of health insurance. Read more
EasyToInsureME Individual Health Insurance Reform Weekly
Week of November 9, 2009
Given that the Senate is expected to require much more time than the House to vote on a health care bill (see below), it is likely there is not enough legislative time left in 2009 to wrap up a bill for Christmas delivery to the White House. Senate Majority Leader Harry Reid fueled concerns about the schedule last week when he refused to commit publicly to passing an overhaul bill this year. This makes a “conference” between the House and Senate MORE likely in January 2010 THAN IN 2009, and that could require some time since the current House and Senate versions are vastly different on several key provisions. If the Conference pathway proves too contentious, House Speaker Nancy Pelosi and Reid could play legislative “ping-pong,” whereby each Chamber makes a modest change and ships if off to the other, back and forth, until they both approve the same language.
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