#1. Can you explain the different types of managed care?

There are three major types of managed care.

#1. Preferred Provider Organization (PPO): If you choose a plan with a PPO, you have access to a local network of health care specialists. You have the option of choosing a health care provider from within the network or you are free to choose a  non-network health care provider. However, you will pay more if you choose to go outside of the network.

#2. Health Maintenance Organization (HMO): An HMO requires a co-payment to a physician within the network, usually at the time of service. However, an HMO will not pay for services you receive outside the network. Once you choose a primary care physician then they become the gatekeeper to the entire medical access system. All your medical care must be based upon the referral of your primary care physician in order to be reimbursable.

 #3. Point of Service (POS or Open Access HMO): With this insurance type, you can obtain medical services out of the network. But you will not be reimbursed the full amount, typically only 50 to 75 percent.

#2. What is an HSA?

An HSA is a health Savings Account, which is typically used along with a High Deductible Health Plan (HDHP).

If you choose an HSA, you put pre-tax money into a special savings account. When you need to access medical care, you use the money in your account to pay for your medical bills. The big advantage is that you are using pre-tax dollars. However, if the cost of medical service exceeds your deductible, the insurance company pays any excess medical expenses.

An HSA is a great way to save money on health care. You only pay when you access medical service and are not required to pay a monthly premium. However, if you have a pre-existing medical condition or you have dangerous hobbies such as sky diving, you should consider a more traditional health plan.

#3. Could you define the following terms: premium, deductible, co-payment and co-insurance?

A premium is the total monthly or annual charge you pay to maintain your policy.

A deductible is the amount you must pay out of your own pocket before your health plan begins paying your health care costs.

A co-payment is the amount you pay when you receive care and the insurance company pays the remainder. The amount varies depending on your plan type and whether you access care through an in-network provider. Usually a percentage such as 80/20, co-insurance is the portion of health care costs you pay along with your deductible.

#4. What exactly is a preexisting condition?

A pre-existing condition is typically a medical problem that was in place before you applied for coverage with a new medical insurer. The decision to cover a pre-existing condition  by a new insurer varies from plan to plan. Some preexisting medical conditions are excluded entirely, while some are fully covered and others are covered after a specific amount of time. The Health Insurance Portability and Accountability Act offers a great boon to those with pre-existing conditions. It guarantees coverage for pre-existing conditions if you change employers and need to change employer plans.

#5. Will my health insurance policy pay for prescriptions?

For the most part, you will have to co-pay for prescriptions, providing they are a covered expense on your plan. Depending on your particular policy, certain types of prescriptions may not be covered. Examples of these include oral contraceptives and hormone replacement therapy. Remember, with prescriptions it is usually a good strategy to choose the generic version of the drug, you will pay a significantly lower price for the exact same drug..

#6. Will my insurance rates increase as I age?

As you get older, your risk for certain medical conditions increases. For example, women are generally more susceptible to breast cancer after the age of 40. Insurance underwriters incorporate those type of statistics when determining your rates. Of particular interest is the fact that as medical practices continue to improve, certain conditions no longer force you into a higher insurance rate, such as high blood pressure or high cholesterol.

#7. How do I find the right insurance at an affordable price?

Individual health insurance is very costly because most people are insured under a group plan by their employer. If you need the best rates available for health insurance use the quote box above. Here at fastcustomquotes.com it is our mission to find you the best coverage at the best rates.

Why the such a huge price disparity?

A simple root canal in the United States can cost you as much as $1,500. (I just paid $1500 in 2008)  If you travel to Mexico, however, you would pay a mere $250 or one fifth of the cost for the same treatment. For more expensive procedures the contrast is even greater, for example: a kidney transplant would cost you roughly $135,000 here in the U.S. But, if you were brave enough to travel to Pakistan for the procedure, you would pay almost one tenth of the cost or roughly $15,000 and that price even includes finding a suitable donor match.

According to experts, there are several fundamental reasons for the medical price disparities between the US and other countries:

#1. The cost of labor abroad is much cheaper.

#2. Rental space (for medical facilities) is also much cheaper

#3. Lab work (including x-rays) is much cheaper

So with so much potential savings at stake, foreign medical care seems worth the trip. But what about the quality of the medical procedures? Do you only get what you pay for, meaning substandard service? Will insurance cover the expense?

Considerations for the International Medical Traveler

You may be surprised to learn that countries such as Pakistan and India actually have very experienced medical specialists with the most current technologies available. Even the facilities may look like more of a resort than a surgical hospital floor, you will still need to look into the following considerations before leaving the country for an important operation or surgical procedure.

#1. Where will you receive treatment. When it comes to foreign health care, you are on your own. This means doing a ton of research to make sure you find qualified physicians with a good outcome history for a given procedure.

#2. Your recovery time. Major surgery usually means taking a long time to recover. Also, remember that you will need to stay in that country to complete any necessary follow-up care.

#3. Travel costs. Travel can be expensive. Especially if you travel to a country where the US dollar is weak in comparison to the foreign currency. Remember, you’ll need round trip travel, in addition to adequate lodging accommodations while you recover. Depending on the seriousness or any complications involved in your procedure, you could be away for quite a while.

#4. Travel time. Driving across the border to have a few cavities filled might not be a big deal, but a 11 hour flight might not be possible if you are recovering from  major surgery.

#5. Health insurance Coverage. It’s highly unlikely that an American insurance company will pay for medical or dental treatment outside of the U.S border. Additionally your insurance may decline any and all expenses related to complications or follow-up care you may require in the US after your return.

Knowledge is Power

When it comes to traveling overseas for health care procedures, one thing is certain: Information is absolutely key, and the more knowledge you have the better. Certainly check with your health insurance company first to investigate all treatment options and learn what procedures the insurer will cover. You may also want to shop for other health insurance policies on our site, fastcustomquotes.com to find a health plan that’s better suited to your needs.

If you elect to seek a medical procedure outside of the U.S., use the above information along with a lot of your own research and discussions with your insurance company before you make any plans to seek medical assistance outside the U.S.

The rankings considered factors such as life expectancy, inequalities in health care access, medical responsiveness in diagnosis of medical conditions and treatment, and how fairly the systems in each country are financed.

Media responses to the ranking were polarized into two camps: one group disputed the methodology of the report while the other camp used the study to criticize the current American health care system.

Michael Moore brandished the World Health Organization report in his recent movie “Sicko,” once again raising doubt about the U.S. healthcare system and sending people running to express opinion on each side of the debate.

How does one make sense of this World Health Organization report?

Unfortunately for debaters on both sides, comparing the United States health care system to the rest of the world is remarkably difficult, and there is no easy summary to grab on to.

The U.S. is the richest country in the world, but ironically Americans, do not live the longest, in fact, we are not even ranked within the top ten for life expectancy. What does that imply about our health care system?

At first blush, nothing good. But sorting causes and effects reliably is a very difficult thing to do. The fact is that some of the causes may have nothing to do with health care.

As Atlantic Monthly reporter Megan McArdle noted recently, Americans die in large numbers due to car wrecks and poor diet, neither of which is even remotely related to our system of health care.

Additionally, it is well known that many Americans shy away from healthful physical activity. According to the Centers for Disease Control (CDC), a 25% of U.S. adults are not active at all. That is a huge percentage of our population that could be negatively impacting the longevity statistics.

Americans have very good access to health care including state of the art clinics and emergency services agencies. America is still the primary driver of medical research and development throughout the world.

Another problem in the U.S. which is becoming a major factor in the 2008 presidential campaign is the fact that many people can’t afford care because they lack health insurance. According to 2007 U.S. Census statistics a whopping 47 million Americans, including 9 million children, do not have any health insurance. And the number are increasing each year, In the previous year 44.8 million Americans lacked insurance.

The best we can say is that there are many complexities that come up whenever one talks about health care statistics. The fact that Americans aren’t all flying to Columbia to get health care is perhaps an hint that the World Health Organization report and our 37th ranking may be inaccurate.

Very few politicians advocate keeping the status quo of American health care. Most of our democratic and republican leaders take pains to propose “solutions” to what is obviously an imperfect system. And according to a recent Gallop poll, only half of Americans are happy with their health coverage and medical care, a lower percentage than in countries such as India, Iran, Sierra Leone, or Malawi.

But is this discrepancy because our health system is worse, or is it because we expect more than do citizens in other countries?

So are we really an embarrassing number 37 in health care? Maybe that’s not the right question to ask. Perhaps a better question is this:

What can we do to become number 1?

Insurance coverage for your student entering college is one of the most important yet sadly overlooked aspects of sending your children off to college. Make sure you are asking the right questions and making the decisions that will protect your son or daughter.

Auto Insurance

Question: If my student drives a friends car, will they be covered by my car insurance policy?

Answer: First, if your child doesn’t take a car to college, you could save 20 percent or more on your own auto insurance policy. However, most insurance experts and financial advisors will advise against dropping your child from your policy. Here’s why: If they get into an accident while driving a their friend’s car, they will NOT be covered.

If your student brings his or her car to a school in a large metropolitan area, your insurance rates could move up dramatically. Contact your insurance agent or get a free quote from fastcustomquotes.com to see how much of a premium adjustment to expect.

Health Insurance

Is my student covered under my health insurance policy while at school?

If your student is going to school full time your current policy “should” provide coverage but you really MUST check your policy to be sure. Most health insurance policies will not cover college students if they're going to school part-time, or if they're over the age of 23. In that case you will need to take out a separate policy for your student. Some policies also do not cover students if they're going to school in a state other than where the policy was purchased. It is very important to talk to your health insurance provider to confirm what coverage is if any will be in force when your child leaves for school.