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Surprised that Wal-Mart wants an Employer Mandated Health Plan?

Wal-mart became sort of infamous for the less-than-generous health insurance plans that were provided to most of the store workers. Apparently these health plans would cover small bills, like doctor’s visits, keeping some percentage of employees happy. But the plans had limits, like mini-meds or specified benefit plans, that would max out if anybody needed to be covered for large health issues like hospital stays or cancer treatment.

So why does the famous Uncle Scrooge want the government to come in and mandate a required minimum amount of health insurance now? Well, apparently the megaloMarts health care costs are still higher than many of their competitiors. A mandated minimum may still come in under Wal-mart’s current cost, but over the cost of some of their major competitors like Target.

Also, a public option may be attractive, depending upon how the plan turns out. If Wal-mart could spend its coverage money on the public plan it may be better than the private sector alternative.

It is something to think about……

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Are Guaranteed Acceptance Health Plans Good or Bad?

I have to tell you that I have never been a big fan of any sort of guaranteed acceptance medical plan, or even those mini-med plans that accept more people but have specified benefit levels.

Pros of Guaranteed Acceptance Medical

Takes anybody who can pay the premium (possibly with age restrictions)

Pros of Specified Benefit Mini Meds

Usually takes more people than individual major medical insurance. For instance, some will accept diabetics.

Cost Benefits?

Guaranted Acceptance or Mini Medical Plans are not cheap! Most of the larger guaranteed plans and specified benefits plans will cost as much, or more, than an individual health insurance plan for any coverage that approaches “real health insurance”.

Is it Health Insurance Or Not?

If it doesn’t smell like a pig, it probably isn’t a pig. Sometimes, guaranteed acceptance health plans will be underwritten by insurance companies, and provide some insurance-like benefits. For instance, some plans may offer to pay an amount like $500 a day while a covered person is in the hospital.

Will this hospital benefit keep you from paying lots of money out of pocket if you have to go to the hospital? …probably not. You really need to do some research on the average cost of being in the hospital for a few days before you spend your cash on any sort of medical discount plan even it does advertise that it takes everybody. What they take is everybody’s money!

That $500/day will not do much to defray your $30,000 hospital bill. And what if you need out-patient services later. A $300 - $500 yearly benefit won’t do much for you either. Really.

But is it health insurance? Well a lawyer friend of mine asked me to find out if one advertised plan she could get for $99 a month was really health insurance.  That monthly cost seemed a little unrealistic considering she was middle aged and overweight.

Anyway, I called, and I kept asking the customer service rep if the plan was health insurance. I could not get an answer, and as I persisted, his tone turned from friendly to downright nasty! He knew he could getin big trouble if he claimed he was selling health insurance, and yet he knew the sale would be lost if he admitted it was not.

This simple test should raise a red flag in everybody’s mind.

What About Mini Meds?

Now specified benefit plans are allowed to be called medical insurance, though not major medical. They may provide some benefits, but still have limits on payments that are not likely to help much if you run up medical bills. The point is - if you are healthy you are probably better off with major medical health insurance.

If you have some health issues, every US state has a high risk plan you can join. These high risk plans can cost a bit more than a healthy person would pay for medical insurance, but again, larger min-meds are not cheap either!

How to Find Major Medical Insurance In Your City

Go Here: Best Individual Health Insurance Quotes

Also see mini-med vs major medical health insurance.

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All of the passengers had a great feeling, and no doubt, the US Airways plane was staffed by a wonderfully trained and experienced crew. Everybody on the plane survived, and what could have been another airline tragedy turned into a wonderful story of survival and redemption.

But there were still losses on all sides. Passengers did endure injuries and stress, and they lost their belongings. Many passengers needed to seek treatment for stress afterwards. But the insurer, AIG, claims that since the airplane was so well staffed with a great pilot and crew, that the airline has no liability - no fault. Instead of crashing or drowning everybody on the plane, the people survived.

Well, that is great news indeed. And all passsengers did get a check for $5,000 from the airline to help them with their immediate concerns after the ordeal. But does their responsibility end there?

Some passengers who could domcument physical losses, like laptops and cell phones, did get another check. These checks were for $5k - $10k. Some passengers also got some therapy paid for - up to 3 whole sessions, and were told to seek coverage from their own health insurance companies. Is this enough? The passengers and their representatives don’t think so, but AIG continues to stonewalls.

And the passengers seem reluctant to push it. Survivor guilt? Maybe - after all, they did walk away with their lives.

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Are you having trouble finding homeowners insurance?

Lots of people in storm prone areas are having a hard time finding homeowners coverage these days. After the last few years, many Gulf coast homeowners are struggling, but so are homeowners in many storm and wind ravaged areas. After top insurers had to pay out so many billions of dollars, they are nervous about covering certain areas, of if they will cover it, they want huge premiums!

Find Homeowners Insurance At Affordable Rates

Of course, plans and premiums will vary by location. One simple way to search for the best coverage options is to use an online homeowners insurance quote form! You simply enter your information once, and then get competitive company information returned to you! You can also find contact information for qualified, local agents who can advise you because they are familiar with your area.

You can also, of course, look for high risk home policies in a couple of other ways. One simple way is to ask your neighbors how they are covered. There is not guarantee that their solution will work for you though.  You can also contact your own state’s homeowners department, and they should have some answers about high risk home insurance. Find US Insurance Departments Here.

What are high-risk homes?

Your home is located in an area prone to severe weather such as hurricanes, windstorms, tornadoes or hail.

You live in an urban area with high crime, vandalism and theft.

Your home has an old plumbing, electrical and/or heating system—these represent a higher chance of causing fire or water damage.

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Have you heard of senior life insurance plans?

If you ever watched daytime TV, you must have seen ads for products like the Golden Plan or Platinum Care plan, or some colors that suggest silver hair and a pleasant old age. They promise to cover senior citizens in their retirement years, though some will market to people in their 40’s or 50’s too. You usually see a silver haired TV personality or a pleansant looking older couple discussing their worry about not having enough life insurance in retirement. If you are a senior citizen, or if you care for an older person, you must have noticed these ads unless you never watch tv during the day.

Whole Life Insurance With Smaller Face Values

Actually these tv spots are put on to get your interested in whole life insurance plans for seniors. They have smaller face values, from a couple of thousand to a couple of tens of thousands, that have been designed to be easy for most older people to qualify for, and also affordable for many families.

Sometimes these plans are also called burial plans or final expense insurance. They are intended as a way for older people to make financial plans for those expenses that come at the end of life. One large expense would be a funeral, of course. But the plans could also pay out cash to settle debts, help survivors travel, and they could even leave some extra money as an estate.

Who Buys and Needs Senior Life Insurance?

Sometimes an older person will purchase a policy for themselves. Sometimes the concerned children or other close family member will pay the premium. The insured person must still answer application questions and sign the application, but the policy could be owned by another person. It is, of course, a delicate subject to discuss. But many times the older person, who wants to be insured, will bring up the subject. The other family members have also been concerned about the high cost of funerals, realize that they don’t have that much savings, and are happy to cooperate.

How To Find Final Expense?

If you are curious, you can get more information on plans and policies that are marketed in your area. It is always good to do some comparison shopping because, as with any other type of insurance, the price and policy will vary by location.

Visit Here: Final Expense Insurance For Seniors

Is Final Expense the Only Option?

Actually some reasonably healthy older people can still qualify for other types of life insurance, and that even includes cheaper term insurance. The choice of policy will depend upon your own goals.

You may want to check out your options here: Term Life For Older People

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