It's a well-known fact that smoking causes an adverse effect on your
health. You must have seen the warning message on all cigarette boxes -
'Smoking is injurious to health'. Smoking tobacco is a root cause of 30%
of all cancer deaths and causes 16 times higher risk of heart attack.
There
are almost 120 million smokers in India. As per World Health
Organization, India accommodates around 12% of the world's smoking
population. The number of men smoking tobacco has increased from 78
million in year 1998 to 108 million in the year 2015. Tobacco
consumption is accountable for the death of 6 million people each year.
Direct tobacco consumption accounts for over 5 million deaths and 0.6
million deaths are due to exposure to second-hand smoke. Considering
serious public health risks, the Government has banned smoking in public
places from 2nd October, 2008.
Not only your health, it also
causes you to pay higher premiums for a health insurance policy, due to
increased health risks and shorter life expectancy. A nonsmoker however,
gets premium discounts as a reward to lead a healthy lifestyle. Being a
smoker, it is advisable not to hide your smoking habit from your health
insurance company, as it helps you to cover the smoking-related health
issues.
There is a wide curiosity among people, how smoking
impacts the health insurance and its cost. Let's educate yourself about
smoking and its impact on health insurance policy.
Smoking - What It Includes
Smoking
includes inhalation of of the smoke of burning tobacco in the form of
cigarettes, cigars and beedi. Whether you are an occasional smoker or
frequent smoker, you will be considered as a smoker under the health
insurance policy.
Smokers can buy health insurance, however an
insurance company may charge extra premium or reject your application
for insurance, depending on the number of cigarettes you smoke on a
regular basis. A smoker may also have to go through additional health
check-ups that can help an insurance company to ascertain the risk
factor and then charge the premium amount accordingly.
How Smoking Affects Your Health and Insurance Premium
Smoking makes the serious impact on your health, some of them are detailed below.
Circulatory System:
Smoking results in increased risk in the heartache and blood pressure.
Building up of fatty acids could resulting to atherosclerosis.
Immune System:
Smoking results in severe and long lasting illnesses. Smokers are more
prone to develop ulcers, cancer, pneumonia, high blood pressure,
bronchitis, and other viral/bacterial/fungal infections.
Respiratory System:
Smoking may damage lung functions and breathlessness. It may cause
damage to the air sacs of the lungs, increased chance of developing
chronic bronchitis.
Oral Health: Smoking can lead to tooth loss, tooth staining, gum disease which may increase the risk of tooth decay.
Cancer: Smoking for a long time also causes cancer to various body organs.
When it comes to a health insurance policy,
an insurance company considers the magnitude of illnesses and deaths
caused due to smoking and that's why, smokers need to pay higher
premiums to avail health insurance cover. Typically, the insurance
companies charge around 15 to 20 percent higher from a smoker
policyholder. Those who smoke would need to undergo additional medical
checks, before the insurer issues you the policy.
Let's understand the difference of premium between a smoker and non-smoker individual.
Ritesh
(non-smoker) at 30 years of age buys an individual health plan with Rs 5
Lacs coverage, for 1 year policy term, the chargeable annual premium
amount is Rs 4,656. However, Raj (smoker) is buying an individual health
plan, he is charged with an annual premium amount of Rs 7,552. An
increase in premium amount is only due to the fact that Ansh lies in the
smoker category of premium. We can see Raj is paying Rs 2896 extra on
account of smoking.
mercredi 22 mars 2017
jeudi 16 mars 2017
How Your Business And Workers Benefit From Supplemental Insurance
As healthcare costs continue to rise, employers have started to
shift the burden of health care costs onto their employees. Some have
even cut back on employer-paid benefits. The health-care law requires
most people to obtain and most employers to offer major medical coverage
with certain essential benefits. Even so, what workers pay
out-of-pocket through these plans keep rising as employers try to
control their own costs.
A 2015 report revealed how employers are still looking for ways to reduce expenses by pushing costs onto workers in the form of increased deductibles, premiums and copayments. By offering supplemental or voluntary insurance to employees, this can provide financial protection in the event of a serious accident or illness. Three reasons why supplemental insurance is essential for employees are:
Healthcare cost increases are outpacing raises
According to a report, 31 percent of employers increased employees' share of premium, 30 percent increased employees' copayments, and 21 percent implemented high-deductible health plans. Those are big expenses hitting employees' wallets, but salary increases are not keeping up. A recent Kaiser Family Foundation study found that deductibles have risen six times faster than workers' earnings since 2010.
Out-of-pocket limits are high, even for higher-paid employees
The average out-of-pocket expense is approximately $7,000 for individuals and $14,000 for families, and that is only for covered essential health benefits. Yet, a whopping 52 percent of employees have less than $1,000 to pay for out-of-pocket expenses associated with an unexpected serious illness or accident, and 28 percent have less than $500.
Workers tend to choose price over quality, which may mean less coverage than they realize
With rising costs, it is tempting to choose health insurance based on the monthly price tag. In fact, 30 percent of employees say monthly premium is the most important factor when choosing a major medical insurance plan each year. A lower-cost plan may mean short-term savings, but could eventually add up to significantly higher out-of-pocket costs.
Employees need a financial safety net. Benefits received from supplemental insurance have long served as a way to help protect employees when they are sick or injured, regardless of their major medical insurance coverage. Some of these benefits include vision, dental, pet insurance, short-term disability, accident, critical illness, and hospital indemnity. Supplemental benefit recipients can use money received from these products to help pay for their daily living expenses, such as rent, mortgage payment, groceries, child care, and medical bills during the time the insured is unable to work.
When companies add voluntary products to their companies' benefits package, they can raise employees' level of satisfaction and help them feel more financially prepared to cope with possible life-changing events. On the other hand, employers can experience lower operational costs and save money in the process. The result is a win-win situation for both employer and employee.
A 2015 report revealed how employers are still looking for ways to reduce expenses by pushing costs onto workers in the form of increased deductibles, premiums and copayments. By offering supplemental or voluntary insurance to employees, this can provide financial protection in the event of a serious accident or illness. Three reasons why supplemental insurance is essential for employees are:
Healthcare cost increases are outpacing raises
According to a report, 31 percent of employers increased employees' share of premium, 30 percent increased employees' copayments, and 21 percent implemented high-deductible health plans. Those are big expenses hitting employees' wallets, but salary increases are not keeping up. A recent Kaiser Family Foundation study found that deductibles have risen six times faster than workers' earnings since 2010.
Out-of-pocket limits are high, even for higher-paid employees
The average out-of-pocket expense is approximately $7,000 for individuals and $14,000 for families, and that is only for covered essential health benefits. Yet, a whopping 52 percent of employees have less than $1,000 to pay for out-of-pocket expenses associated with an unexpected serious illness or accident, and 28 percent have less than $500.
Workers tend to choose price over quality, which may mean less coverage than they realize
With rising costs, it is tempting to choose health insurance based on the monthly price tag. In fact, 30 percent of employees say monthly premium is the most important factor when choosing a major medical insurance plan each year. A lower-cost plan may mean short-term savings, but could eventually add up to significantly higher out-of-pocket costs.
Employees need a financial safety net. Benefits received from supplemental insurance have long served as a way to help protect employees when they are sick or injured, regardless of their major medical insurance coverage. Some of these benefits include vision, dental, pet insurance, short-term disability, accident, critical illness, and hospital indemnity. Supplemental benefit recipients can use money received from these products to help pay for their daily living expenses, such as rent, mortgage payment, groceries, child care, and medical bills during the time the insured is unable to work.
When companies add voluntary products to their companies' benefits package, they can raise employees' level of satisfaction and help them feel more financially prepared to cope with possible life-changing events. On the other hand, employers can experience lower operational costs and save money in the process. The result is a win-win situation for both employer and employee.
How reasonable it is for businesses to want to reduce payroll
taxes and lower health insurance expenses. Contact us for a 15-20 minute
visit to discuss and put together a plan to lower your operational
costs. And, if we do, it will be at no cost. That's right, it won't cost
you a penny. For working individuals who are in a position or want to
do it alone, we have a plan for you, too. With nearly 60 years of
providing financial protection to more than 50 million people, our
office has the experience in making your future somewhat brighter.
mardi 28 février 2017
The Necessity of Getting Diabetes Insurance Before It's Too Late
The extremely long working hours, lack of sleep, no exercise,
unhealthy eating habits and change in lifestyle has taken a toll on the
health of the Indians. The World Health Organization had estimated 70
million diabetics in India today with a 45% to 50% increase by 2030.
We all get scared by illnesses like tumor, cancer etc. But, diabetes is definitely not an illness that can be ignored. The monthly expense for the medicines spent on diabetes comes to Rs.4, 000 to Rs.9, 000. But these expenses does not include doctor's consultation fees and diagnostic fees. Besides, with additional complications your expenses might shoot up to Rs.20, 000/- a month.
Health worsens as we grow older. Research shows that one out of seven employees suffer from diabetes or hypertension. Diabetes is a long-term ailment and hence the average claim size is 90% higher compared to other diseases or illnesses.
It makes sense to buy a health insurance plan at an early age. Reason would be as simple as saving on the premiums and preparing yourself for the worst before it's becomes too late. The rising incidents and claims would encourage you to remain financially relived and cover for your disease if you buy a plan at an early age.
There are variety of health insurance plans available in the market. You have a choice of opting for a specific diabetes plan or a general or standard plan. You can decide upon a particular health plan depending upon various factors like your medical history, standard of living, as well as the area that you live with the total number of family members.
When you buy a health insurance plan, ensure you make extra provisions to provide complete protection for the family. For instance, if your family member suffers from diabetes, you should buy an individual policy rather than a family floater plan. So that, the coverage doesn't get exhausted for other family members.
There has been a considerable increase in the number of diabetes cases in women and some young adults too. It would be a wise decision to buy a policy that pays for OPD claims. This would take care of your regular medical expenses.
Diabetes has become like a silent killer. This damages the blood vessels, kidneys, eyes, heart and nerves, ultimately leading to expensive treatments like bypass, amputation of any body part, retinopathy etc.
The treatment costs are also going up. Therefore, it becomes a necessity to opt for a wholesome cover. Experts say, it is better to buy a comprehensive health cover that has features like no room rent limits, covers organ donor's expenses etc. Providing an option to reinstate the policy in case of exhaustion of sum insured would be an additional benefit.
We all get scared by illnesses like tumor, cancer etc. But, diabetes is definitely not an illness that can be ignored. The monthly expense for the medicines spent on diabetes comes to Rs.4, 000 to Rs.9, 000. But these expenses does not include doctor's consultation fees and diagnostic fees. Besides, with additional complications your expenses might shoot up to Rs.20, 000/- a month.
Health worsens as we grow older. Research shows that one out of seven employees suffer from diabetes or hypertension. Diabetes is a long-term ailment and hence the average claim size is 90% higher compared to other diseases or illnesses.
It makes sense to buy a health insurance plan at an early age. Reason would be as simple as saving on the premiums and preparing yourself for the worst before it's becomes too late. The rising incidents and claims would encourage you to remain financially relived and cover for your disease if you buy a plan at an early age.
There are variety of health insurance plans available in the market. You have a choice of opting for a specific diabetes plan or a general or standard plan. You can decide upon a particular health plan depending upon various factors like your medical history, standard of living, as well as the area that you live with the total number of family members.
When you buy a health insurance plan, ensure you make extra provisions to provide complete protection for the family. For instance, if your family member suffers from diabetes, you should buy an individual policy rather than a family floater plan. So that, the coverage doesn't get exhausted for other family members.
There has been a considerable increase in the number of diabetes cases in women and some young adults too. It would be a wise decision to buy a policy that pays for OPD claims. This would take care of your regular medical expenses.
Diabetes has become like a silent killer. This damages the blood vessels, kidneys, eyes, heart and nerves, ultimately leading to expensive treatments like bypass, amputation of any body part, retinopathy etc.
The treatment costs are also going up. Therefore, it becomes a necessity to opt for a wholesome cover. Experts say, it is better to buy a comprehensive health cover that has features like no room rent limits, covers organ donor's expenses etc. Providing an option to reinstate the policy in case of exhaustion of sum insured would be an additional benefit.
mercredi 8 février 2017
Importance of a Medical Billing Company in Improving Your Business
The billing in a medical business is a matter that creates a lot
of trouble to a number of medical professionals if they do not have the
knowledge of insurance policies and claim procedures. Most of the
doctors are found to spend more time on filling out forms and processing
transactions instead of spending more time on ensuring the wellness of
the patients they see. It has become a big gigantic problem in the
medical industry especially in smaller clinics where there is no extra
staff for carrying out the billing procedures separately.
The billing companies address this issue and help to provide a space to their clients to let them perform their professional work instead of wasting their time on billing processes. In real practices, it is very important for a doctor to concentrate on the work he is doing without any distraction. If a doctor does other things than his medical practices then it can cause many unwanted results. Sometimes, it can be fatal if a doctor is unable to focus on his work due to lack of time. This is why it is very important for the medical business runners to let their doctors free for what they are meant to be.
A medical billing company can be all that you want in your medical business. The medical billing companies can offer you many methods of carrying out billing. However, the best method you can opt for your company is the online billing technique. The online billing method has a number of benefits over the traditional billing processes. It helps the medical business owners to maintain a streamline flow of the business. With the help of online billing, complications in the billing processes are reduced to a great extent. A large number of transactions can be managed easily with the online billing method which is otherwise impossible with traditional methods.
The online billing services help you to save a huge amount of time that helps the professionals to perform their duty effectively. It also costs quite lesser. You do not have to spend on things like pen, paper and stamps etc. Data accuracy is another benefit of these services which is very helpful in creating precise results and hence improving the efficiency of the business. These little factors improve the work efficiency of the whole business and in a business like medical care, it is highly recommendable to use such services to improve healthcare services. Not only will this improve the profits of a company but also the customer satisfaction too.
If you want to hire a billing service for your medical business then you can take the help of the internet or other consultancies to know better about various companies offering these services. You can also read the reviews on these companies and make your decision more valuable.
The billing companies address this issue and help to provide a space to their clients to let them perform their professional work instead of wasting their time on billing processes. In real practices, it is very important for a doctor to concentrate on the work he is doing without any distraction. If a doctor does other things than his medical practices then it can cause many unwanted results. Sometimes, it can be fatal if a doctor is unable to focus on his work due to lack of time. This is why it is very important for the medical business runners to let their doctors free for what they are meant to be.
A medical billing company can be all that you want in your medical business. The medical billing companies can offer you many methods of carrying out billing. However, the best method you can opt for your company is the online billing technique. The online billing method has a number of benefits over the traditional billing processes. It helps the medical business owners to maintain a streamline flow of the business. With the help of online billing, complications in the billing processes are reduced to a great extent. A large number of transactions can be managed easily with the online billing method which is otherwise impossible with traditional methods.
The online billing services help you to save a huge amount of time that helps the professionals to perform their duty effectively. It also costs quite lesser. You do not have to spend on things like pen, paper and stamps etc. Data accuracy is another benefit of these services which is very helpful in creating precise results and hence improving the efficiency of the business. These little factors improve the work efficiency of the whole business and in a business like medical care, it is highly recommendable to use such services to improve healthcare services. Not only will this improve the profits of a company but also the customer satisfaction too.
If you want to hire a billing service for your medical business then you can take the help of the internet or other consultancies to know better about various companies offering these services. You can also read the reviews on these companies and make your decision more valuable.
vendredi 20 janvier 2017
Choosing a Concealed Carry Insurance Policy
Most gun owners view the possession of a firearm in the gun safe or
concealed carried as our insurance against those who would harm us. What
if the unexpected happened? What if you are forced to use your firearm
in self-defense? Well, since you are a legally armed citizen, you just
show up in court and prove that you met all the legal requirements to
justify using deadly force. Then the court rules in your favor and life
goes on... not quite. Sounds real simple but I guarantee that it's not!
Just the word "court" is complicated and expensive. Even though the
court may rule that you are innocent of any criminal charges the family
of the deceased can take further action and file a civil suit for
wrongful death resulting in even more time and money.
Insurance companies are now offering concealed carry and self-defense insurance policies just for such occasions. Since this has become so popular, there are several coverage options and several providers to choose from.
When choosing a policy, do your homework. Most homeowner's insurance policies have clauses that may either enable or prevent your current plan from covering you in a self-defense scenario on your own property. So consider any coverage you may already have through your homeowner's insurance.
You need to also understand what the state laws are and how they can protect you in certain situations. However, word of caution these laws are always changing so you need to stay abreast of what they are at all times. A lot of states have Stand Your Ground laws that protect individuals against civil suits in lawful self-defense situations. Most of the time, these laws make it unlikely that you will face a civil suit when rightfully defending yourself.
Consider the different types of coverage. Of course, the higher the premium, the more coverage you get. Many plans will cover your legal bills for civil cases up to the plan limit. For criminal trials, most plans only offer reimbursement for money spent defending yourself. Several insurance plans will not provide any money upfront and will only pay if you are found not guilty. With all this in mind, it important to understand exactly what you are getting.
Insurance companies are now offering concealed carry and self-defense insurance policies just for such occasions. Since this has become so popular, there are several coverage options and several providers to choose from.
When choosing a policy, do your homework. Most homeowner's insurance policies have clauses that may either enable or prevent your current plan from covering you in a self-defense scenario on your own property. So consider any coverage you may already have through your homeowner's insurance.
You need to also understand what the state laws are and how they can protect you in certain situations. However, word of caution these laws are always changing so you need to stay abreast of what they are at all times. A lot of states have Stand Your Ground laws that protect individuals against civil suits in lawful self-defense situations. Most of the time, these laws make it unlikely that you will face a civil suit when rightfully defending yourself.
Consider the different types of coverage. Of course, the higher the premium, the more coverage you get. Many plans will cover your legal bills for civil cases up to the plan limit. For criminal trials, most plans only offer reimbursement for money spent defending yourself. Several insurance plans will not provide any money upfront and will only pay if you are found not guilty. With all this in mind, it important to understand exactly what you are getting.
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