How To Understand Your COBRA Rights

COBRA, or Consolidated Omnibus Budget Reconciliation Act, gives you the right to continued group insurance under most circumstances for a limited time. COBRA benefits are usually more expensive than the group rates you paid while employed as your former employer is no longer footing part of the bill, but in many cases is less expensive than independent insurance. For some situations, it might be the only method to keep insurance for situations like ongoing treatment and pregnancy.

What is COBRA?

The Untied States Government passed the Consolidated Omnibus Budget Reconciliation Act in 1986 to extend health care coverage that might otherwise be terminated. It gives you options when it comes to healthcare.

Who Qualifies?

There are many situations that qualify you, your spouse or your dependents for COBRA benefits. In most cases, unless you were fired for gross misconduct, you, your spouse and dependents all qualify. Other circumstances also allow for benefits including death, divorce, qualification for Medicare, reduction in working hours and if a child outgrows dependent status.

Why COBRA?

If you were laid off or chose to leave a job, but don’t have another one with benefits already lined up, COBRA might be a nice way to bridge the gap without having to find other insurance. Benefits can last for one to three years and once you are approved, you can continue with the same methods of treatment you’ve been using up to that point. This is especially important for those with ongoing treatments for long term diseases, conditions and pregnancy where finding other insurance with the same coverage might be almost impossible.

COBRA benefits are often a bit less expensive than a similar plan through independent insurance.

What Do I Do?

When you leave a position or come into another situation which entitles you to COBRA benefits, you will receive a letter from your former employer within 14 days. You then can apply for benefits and your specific situation determines approval. Generally you have up to 60 days to apply, and coverage begins on the first day you would normally have had coverage – even if you elect the plan 60 days after that time.

For additional information, the United States Government has a list of FAQ available here.

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How to Maintain Your Life Insurance

Life insurance is critical for most adults, and especially those with dependents. Many adults have little or no difficulty selecting one form of insurance or another to suit their individual needs, but over time, the policies might lapse for one reason or another.

Even as your children grow up and leave the house, it is still important to maintain your life insurance until you are sure you no longer need it – which for many of us, will not be until the policy payout has been collected by our dependents.

Select the Right Plan

The first step in maintaining your life insurance is to select a policy that will last the longest and be affordable. There are various kinds of life insurance including whole life and term, and each has its benefits and drawbacks. Research your options and discuss various policies with your dependents and financial advisor. Then select a plan that has the maximum amount of coverage with a premium you can afford.

Pay Premiums

The easiest way to maintain your life insurance is to meet the requirements of the plan. Pay the premiums on time every month. If you selected a plan whose premiums are too high to make comfortable, discuss your options with the company. It is far better to have even a little bit of life insurance than none at all, so find a plan whose premiums you can afford – even if you have a plan worth only $15,000. It is much more advisable, however, to find a plan with adequate coverage and find a way to meet the premiums.

Know Your Limits

Many life insurance plans are offered based on the assumption or even signed intent of remaining healthy and not engaging in life threatening activities. Most plans are intact for the life of the contract, but have disclaimers. If you are seen to have taken unnecessary risks and perished, your life insurance company may be able to avoid paying your dependents.

Study the plan and read the fine print. Are there exclusions? What if you gain weight? Are terminal illnesses covered? Some things, such as terminal illnesses, can’t be avoided and should be included in the plan. Others, such as sky diving accidents and drag racing are certainly avoidable and might void your contract and are inherently dangerous as it is.

Get Insurance Early

The earlier you arrange life insurance, the better your terms will be. Term life insurance especially has tremendous benefits if you set up a plan early in your adulthood. As you age and more health conditions develop, it becomes more difficult to qualify for plans and this can make them that much harder to maintain.

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How To Get Insurance with Current Medical Condition

For years it was almost impossible to find insurance that adequately covered preexisting conditions. This is no longer the case in the United States following the Health Insurance Portability and Accountability Act (HIPAA) which passed in 1997. Getting insurance with a current medical condition maybe easier than you think – in the United States at least.

Current Medical Conditions

According to HIPAA, a preexisting, or current, medical condition is anything that has been treated in the last six months. This does not include pregnancy or new babies. Those are not considered preexisting conditions at all and can not be subjected to wait periods. The only limitation an insurance agency can put on you (and your preexisting condition) is a twelve month waiting period before coverage for that treatment begins.

The Waiting Game

HIPPA also allows for your prior health insurance to be credited toward the twelve month waiting period provided you didn’t lapse in insurance for more than 62 days. This means that if you were diagnosed with an illness one year ago, but remained insured for that year, you no longer qualify for a waiting period and can begin new coverage immediately. An insurance company can not make you wait for treatment or deny you coverage based on that condition. This is true when going from one group plan to another, but things do become more complicated when a large insurance plan is not involved.

COBRA

If you are leaving a job for any reason but being fired, you can use your COBRA rights to continue your current benefits until you find a new job, preferably one with group coverage. COBRA will offer you the same insurance you had at your prior position, even if you are laid off, so your treatments should be covered for up to three years. During that time, you can find a new position or with the conclusion of treatments, lose your preexisting condition status.

No Coverage

If you are entering a group policy without insurance for the prior 62 days, you may be put on a twelve month waiting period – at least for the specific condition. This may also be true if you are seeking independent insurance not bound by group policies or limitations. If this is your case, consider taking the following steps to find coverage:

• Get a clause in an insurance plan excluding the specific medical condition, but allowing for coverage of any other sort.
• See what plans your state offers for those who can not get medical insurance.
• Look into plans and treatment options at county or state run facilities.
• Find a group of other independents to join that have a medical plan. (i.e. Realtors, artists, etc…)
• Get a catastrophic plan which doesn’t cover doctor’s visits, but does cover emergency care and hospital bills.
• Speak with a Health Benefits Counselor about your best options.
• Appeal the refusal – especially if there are additional state laws protecting citizens with poor health, obesity, etc…
• Wait it out. Find a way to make ends meet until the waiting period is up, and then never let your insurance lapse more than 62 days.

For additional information on insurance outside the United States, visit:

http://www.global-health-insurance.com/pre_existing_conditions.php

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How to Get Insurance for IVF Treatments

In vitro fertilization (IVF) is a final resort for many couples who struggle with infertility. As infertility becomes more widely discussed and more options present themselves to couples, insurance companies have begun to offer IVF coverage. That coverage varies by company and by guidelines and laws set forth by the actual state. In many areas legislation is still being developed, but IVF insurance is becoming more common and easier to obtain.

Find Your State’s Guidelines

The first step in determining if you can get IVF coverage is to see what your state requires from insurance companies. States have different requirements, if they have any at all. For example in Texas, insurance companies must offer it, but not necessarily include IVF with maternity care. To qualify for IVF insurance, you must have struggled with documented infertility for five or more years.

In Arkansas, by comparison, you simply must try other fertility methods first, but there is no timeline on infertility to qualify. However, in Arkansas, HMOs are exempt from laws requiring IVF offerings. To find what your state covers, contact your state’s Insurance Commissioner’s Office.

Review Your Current Plan

Read the fine print of your current plan to see if IVF is already included or if it is available. Call the company to discuss the possibly and see what the conditions would be to be approved for coverage. Speak with as many people as possible about your options to be sure you fully understand the program, if it is available, and what you can do to qualify.

Apply for IVF Insurance

If you are not already covered through your maternity program and IVF insurance is available, apply for separate IVF insurance from the same family of companies. This would be a rider on your current policy.

Seek Out Alternatives

If you are not approved or your state does not require companies to offer IVF coverage, seek out alternatives. IVF is expensive, and even a small plan can help cut costs tremendously. There are many companies that offer insurance coverage of IVF treatments. Do your research and apply for reputable programs. IVF insurance is worth the effort – not only does it give you peace of mind, but leaves a bit of money in your pocket as well.

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How To Get Health Insurance As An Expatriate

When you’re an expatriate, you have special limitations. You also have tremendous freedom, but with that freedom comes responsibly. By moving to another country or losing your citizenship, it’s entirely possible you lost your health insurance as well. There are a few ways to find coverage if you are an expatriate.

Marriage

One easy way to get insurance as an expatriate in many countries is through marriage. Of course you shouldn’t get married simply to take advantage of your spouse’s insurance, but it does make things easier. In some cases, even marriage won’t allow you medical coverage, but it all depends on the laws of the country you are living in, the citizenship of your spouse and the time you’re spent in the new country.

Employment

If you can obtain a visa or permit for employment with a company that offers group insurance of some kind, it is likely that you would qualify for insurance through employment. Of course, many expats head to distant corners of the globe to escape exactly these kinds of jobs, so this might not be the ideal solution.

Expatriate Insurance

Another option would be to apply for and obtain a specialized type of insurance called expatriate or international health insurance. Choosing expatriate insurance is an obvious solution, but can be tricky – especially if you are unfamiliar with the types of insurance plans available.

Choosing Expatriate Insurance

To make a choice in expat insurance, begin by thinking through the coverage you need. While it can be simple to assume you won’t be getting sick or need something like major dental surgery, it might be only your ego or misinformed nature speaking. After all, insurance is most often used in emergencies, and those happen everywhere. In many cases, letting your insurance lapse for more than a month or two might keep you from getting insurance later, even when you return to your own country, so be liberal in your selection – this is your health you’re protecting after all.

Types of expat insurance include: general medical, inpatient (admitted to the hospital) outpatient (doctor’s office only), dental, vision, maternity, chronic conditions, and evacuation. The industry is constantly releasing new packages as we become a more global society, so it important to understand your specific needs when comparing plans.

For example, if you are a woman, you will most likely need general medical insurance with both inpatient and outpatient components. If maternity is not covered in that plan, which it often is not, you will need a separate maternity plan – even if you don’t plan on becoming pregnant; you might not be able to qualify for one if an “accident” should occur. You’ll also need to consider dental and possibly evacuation assuming you have no chronic or preexisting conditions.

Research what various companies offer and compare plans side by side. Don’t necessarily go with the cheapest or the most expensive until you know exactly what your money is buying. Read reviews by others on various companies and plans, and speak with a person about your unique situation. Your insurance can mean the difference between a successful time abroad or one of poverty and misery – be sure you are adequately prepared.

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How To Find the Truth about Maternity Insurance

Maternity insurance is a specialized insurance offering that only a few need, well, at most only 50% of the population needs. Maternity insurance is often misunderstood, especially when it is not included in a standard group policy of some kind. If you are struggling to wade through the facts and rumors of maternity insurance, learn how to find the truth about maternity insurance.

It’s Already Included

In many group policies, maternity medical insurance is included, but you should never assume this is the case without checking. If you have an independent policy, you may be very surprised to discover that maternity is most often not included. Not only that, but it might not be available in your area – at least not through traditional insurance companies. This is definitely something to check before becoming pregnant if at all possible. Read through your policy handbook or speak with a knowledgeable representative to determine exactly what is included in regard to maternity coverage in your current policy.

It’s Easy to Get

It’s possible, but most often maternity insurance is complicated to get if it’s even available. The coverage options vary by state, and by country. If you are already pregnant, it can be challenging to get separate maternity insurance or even a general insurance policy. It can also be challenging for other members of your family to get insurance if you don’t already have it thanks to the new baby’s ability to be put on any current insurance plan for the first thirty days of life. Research your options in advance and find the ideal solution for your family – be it a traditional group policy through a company or collection of independents, or possibly a maternity rider on an independent policy.

I Don’t Need It

Even if you are planning on a simple home birth, there are many other complications to consider with a pregnancy. Delivery may be the bulk of your costs, but even simple deliveries with a midwife or knowledgeable relative can turn expensive quickly if the baby is in trouble, you need emergency care, or a situation such as a breech position baby or twins makes it unsafe for a home or center delivery.

Maternity insurance also covers prenatal and postnatal care as well as sonograms, routine tests and blood work that can alert you to any conditions you or your baby might suffer. General insurance will not cover these costs, and even a twenty-four hour stay in a hospital can cost thousands.

I’ll Pay Cash

Unless you have a great deal of money on hand, you won’t qualify for a cash discount. If you prepay delivery, you can save, but there are additional savings with negotiated insurance rates as well. Even the most basic maternity coverage can cut your costs tremendously. Why throw away cash when you can save it by picking up a simple maternity rider before beginning a pregnancy?

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How to File for Workers Compensation

Workers’ compensation is a form of insurance mandated through your state to reimburse you for injuries sustained while at work. It doesn’t matter who is at fault for an injury in most applications for workers’ compensation. If you’re hurt on the job, you most likely quality, and here’s how to file for workers’ compensation.

Report the Injury

If you’re injured at work, you must first report the injury immediately to your supervisor. While it’s not illegal to hide the injury, it is bad faith and may cause problems when you file for workers’ compensation or if you pursue other forms of compensation at a later date.

Complete the Form

Every state has a different form to be completed, so speak with your employer or look online to find a copy of the form necessary for your state. Fill out, or have the form filled out by an authorized representative, as soon as possible. Sign and date the form and be sure to retain a copy for yourself.

Delivery and Acceptance

Personally deliver the form or have it sent by certified mail to your employer. Keep all records of delivery as they may become necessary should your claim be litigated. Under your state law, your employer will have a set amount of time to accept or reject your claim. Expenses incurred during the decision making process should be covered.

When he accepts it, your employer will complete his section of the form and send it on to the insurance company to arrange compensation. The insurance company should notify you within about two weeks, so be sure to follow up with the insurance company if you don’t receive a letter about your claim status.

If Your Claim is Denied

Once your claim is accepted, in most instances, you’ve forgone the right to sue your employer for the injury. If your employer denies your legitimate claim or fires you because of your injury, speak with a legal representative to determine your exact rights and pursue other legal avenues to obtain the compensation you’re entitled to.

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How to Buy Life Insurance

All adults, especially those with dependents or children, need to have some form of life insurance. The life insurance offered in company benefit packages is often a token gesture, but almost never enough to provide for your family satisfactorily after your death. You need to plan ahead, and you need to know how to buy life insurance.

Determine Your Need For Insurance

Life insurance in Canada, the United States and most developed nations comes with essentially the same terms and is offered in similar formats. There is term life insurance, which is essentially rented for a set amount of time, or there is whole life insurance which is a policy purchased over time which may be considered a form of investment.

To buy life insurance, you must determine what sort of policy you need. Is it likely your dependents will be off and successful on their own in a matter of twenty years or less? Or do you like the security of knowing you have life insurance right up to the end? Term life insurance is less expensive than whole life and it is most often purchased to last through your child rearing years or while you are the primary breadwinner. A smaller (less expensive) policy may be purchased after that if necessary. Whole life is more expensive, but you are able to show a purchased policy at the end of the payments which will be with you for good.

Determine the Amount of Insurance

The amount of your life insurance should be enough to:

• Fully cover your funeral, burial and maintenance expenses
• Settle all outstanding debts including credit cards, loans, medical payments, and liens.
• Pay off your home is your dependents will still be living there.
• Provide adequate living expenses for your spouse and dependents for an appropriate amount of time.
• Possibly pay for your children’s higher education.

There is a difference between buying life insurance with children and without. If your spouse works and you have no children, your policy need only cover what would be required to clear your accounts after your death and possibly pay off half or all of your major expenses to keep your spouse from going under from trying to keep up with all the bills.

If you have children, however, your spouse may not be working out of the home. You must plan for what your spouse will do in the event of your death. Will you need to pay for childcare if she is working? What sort of job is she qualified for? It is always best to leave as much as possible to cover your children’s living expenses until they are legal adults to make the strain of your absence bearable.

Buy the Life Insurance Policy

Discuss your options and selections with a life insurance broker. Compare plans from competing companies either through representatives or online. When you’ve found the plan that is right for you and your family, purchase it and then never lag on payments. Life insurance isn’t about you – it’s about keeping your family safe and comfortable when you are gone.

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How to Buy Independent Health Insurance

If you’re self employed or your employer doesn’t provide a health insurance package, you must arrange your own health insurance coverage. While it may seem easier and much less expensive to skip health insurance if you are young with no complaints to your record, you should always carry health insurance. Not only will you be protected should you become ill or be involved in an accident of any kind, you’ll also have a consistent record of health coverage which can be critical down the road.

Research Your State

Each state might have different rules and regulations when it comes to health insurance. For example, independent Texas health insurance can not allow maternity coverage, but Pennsylvania health insurance might. Even individuals cities might have different options or plans available. Philadelphia health insurance, for example, might be easier and less expensive to obtain through the many local hospitals and health centers than health insurance in a more rural setting. Speak with an agent or research online to see what limitations and options are available to you.

Determine Your Needs

There are almost endless options available with health insurance, but many websites will help you work through your priorities to establish the sort of health insurance you need. If you plan on just going to the doctor for an annual physical and you like the protection of having some sort of insurance in case of accidents, you can most likely get away with a high deductible plan that allows a limited number of visits. This plan will be much less expensive than a health insurance plan with low co pays for unlimited visits and a low deductible.

Healthy single individuals need much different protection than families with young children or older individuals who have health conditions. Determine first what is important to you and then prioritize those needs.

Research Available Plans

You can research available health insurance plans online or by using a health insurance representative or agent. Spending time online might help you find lower rates on insurance, but an agent will be able to guide you through the process to get exactly what you need. Spend plenty of time considering your options and begin your research at least a month before you actually need coverage.

Select and Apply for a Plan

Once you have a plan selected, apply for the program and sit back and wait. The approval process for full health insurance includes underwriting and may include a physical. You’ll be kept appraised of your status as the health insurance application is processed. Eventually you should be approved, but if there is a problem, try speaking with the company or start the process again with a different company who will have another set of underwriters perhaps with different guidelines. Temporary insurance might help bridge the gap if you’re denied due to a recent condition, but it is limited to only a few months at a time.

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How to Apply for Social Security Benefits

The easiest way to apply for Social Security benefits including Social Security disability benefits is to use the Social Security Administration’s website. You can also apply over the phone, but why bother when the internet is so much more convenient? The only exception would be if you’re applying for Supplemental Security Income (SSI) benefits. SSI benefits can’t be done over the internet, so you’d do best to call 1-800-772-1213 and speak with someone who can help with your specific situation.

To Apply for Social Security Benefits Online

Almost all Social Security Benefits can be applied for through the Social Security Benefits Application.

To apply for benefits, first be sure you’re applying for Retirement, Disability, or Spouse’s Benefits. You can’t apply for just Medicare if you’re still working and you can’t apply for Supplemental Security Income (SSI) benefits. Once you’ve determined you’re in the right place for your needs, navigate to the application form.

Gather Your Documents and Information

Before actually beginning the application, be sure you have all of the necessary documentation on hand.

You may need:

• Birth certificate or other proof of birth
• Naturalization papers;
• U.S. military discharge paper(s)
• W-2 forms(s) and/or self-employment tax returns for last year.

And you will be asked to complete items such as the following:

• Your name, birth name, gender and social security number
• Your date of birth and place of birth including any records there may be
• When you became unable to work if disabled
• Military service information
• You employment history in any government entities
• Your marriage status and spousal information (current and former)
• Dates and situations for all marriages
• The names of any unmarried children under 18, 18 -19 and in secondary school or disabled before age 22
• Employment and earnings information
• Any outstanding legal issues
• The month you want your benefits to begin and enrollment decisions about Medicare B.

Apply Online

Complete the online form once all of your information is assembled. If you can’t locate certain items, complete the form anyway, but expect to work with someone over the phone or in person to finalize the application. Starting it online can save time and effort.

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