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The Importance of Travel Health Insurance in Overseas By Jeff Daniels JR

April 29th, 2011

When travelling abroad on business or pleasure you will make a list of things you need to take with you. The most important thing you need to account for is travel health insurance. If you are travelling to a country that you are unfamiliar with and where you have no friends and family, and if something were to happen to you, you will end up paying a lot extra simply because you do not belong there. Travel health insurance is imperative, do not wait till you experience the ill effects of not buying travel health insurance for yourself, learn from other people’s mistakes and make sure you make arrangements.

The importance of this type of insurance when travelling overseas are listed below:

1) Peace of mind: When you are travelling with health insurance you can enjoy your trip without worrying about making arrangements for medical expenses if you were to fall sick or encounter an accident. You can be adventurous and try everything you had planned to do when you know that you will be secured financially even if something were to go wrong.

2) Hosts: When you travel abroad and are staying at a friend’s place, you are technically their responsibility. If something were to happen to you, they would be devastated and they would also have to bare the medical expenses. You need to ensure that you are not a burden on your hosts and you can do this by taking care of your travel insurance. If you would need medical care abroad, your travel insurance plan would cover it and your hosts would provide you the moral support you need.

3) Other belongings: A lot of travel health insurance plans also offer to cover your other belongings so you do not feel the pinch of shelling out too much money on securing your health in case nothing out of the ordinary were to happen. Your camera, cell phone, laptop etc. can be insured too if you pick the right travel health insurance plan. » Read more: The Importance of Travel Health Insurance in Overseas By Jeff Daniels JR

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Posted in Health Insurance

Tags: Health Insurance Travel

Health Insurance Over 50 And Under 65 By Marilyn Katz

April 29th, 2011

If you are between the ages of 50 and 65 and you are going to be looking for health insurance or are looking for health insurance you need some help. This is a tough age (of course what age isn’t starting with the terrible twos) because you are at a prime age to start developing health problems. Statistically speaking and statistics is the only language insurance companies speak, the insurance company can predict they are going to spend more on 50-65 year old than a 20-45 year old. For that reason premiums are much higher for the older person.

But, we Baby Boomers are a smart group and where there is a will, there is a way. So let’s look at some of the options:

If you currently have a job and are looking to retire or start your own business, you have a couple of avenues you can investigate. First you can inquire if your company will let you buy health insurance through the company plan. If your company will let you do this your employer (assuming we are talking early retirement) may subsidize part of your premiums. If not, you still get group rates which are a whole lot cheaper than individual rates. If you are married and your spouse is still working strongly consider adding yourself to his/her plan if that option is available to you.

The next option (if you currently have a job which provides health insurance) is COBRA or Consolidated Omnibus Budget Reconciliation Act. COBRA lets former employees and their dependents continue their employer’s group coverage for up to 18 months. The best thing about COBRA is it is guaranteed. Your former employer’s insurer can’t turn you down even if you have a chronic medical condition. The worst thing about COBRA is the cost. Your employer generally covers 70% or more of your health insurance premium. With COBRA you have to pay the whole premium plus administrative costs. Industry surveys indicate based on an average premium (for 2007), a former employee would have to pay more than $373 a month for individual coverage and more than $1,008 a month for family coverage.

If you are not currently employed by a company who provides health insurance there are still choices for you. If you have pre-existing conditions such as diabetes or high blood pressure you can receive coverage through a state high-risk health program designed to help those with medical conditions that prevent them from getting insurance. Again though like COBRA the premiums can be quite high. » Read more: Health Insurance Over 50 And Under 65 By Marilyn Katz