In about one fifth of all known cases of health care fraud, consumers are the perpetrators, according to the insurance association. All but a fraction of the rest involve providers. "I don't take consumer fraud lightly," says Greg Anderson, director of corporate finance investigations for Blue Cross-Blue Shield of Michigan. "We have 4.5 million customers and if each one is doing $1 in fraud, that's $4.5 million. That's worth paying attention to." But provider fraud is where the bigger dollars are by far.

That's not surprising, says the Anti-Fraud Coalition's Mahon. "A consumer has a health plan, car insurance, a vision plan, maybe dental, but a provider has the whole patient population, the whole range of tests and treatments and the ability to bill a very wide array of third-party payers. Even in a managed care setting, if I'm a provider, I'm participating in a dozen or two plans, plus all the fee-for-service plans," he points out.

In the indemnity world, provider fraud falls into one of two categories, whether it's the work of a single doctor, an organized gang or a hospital or clinic: billing for services not rendered - tests not given, surgery not done, care not provided - and upcoding. A physician may spend just a moment with an office patient but bill for a full evaluation, for instance, or bill for foot surgery when he did little more than trim the toenails of a nursing home patient. "These account for 100 percent of the provider fraud in fee-for-service plans," says Anderson.

But 85 percent of patients with employer-based coverage now are enrolled in some kind of managed care plan. Under plans that are not fully capitated, most of the same variations of provider fraud still apply. New methods also are emerging. Kirk J. Nahra, general counsel for the National Health Care Anti-Fraud Association, noted in a 1997 article in Benefits Law Journal that fraud continues to flourish the old-fashioned way. That's because "fee-for-service transactions continue to figure significantly in virtually any managed care system," he wrote. With some HMOs diminishing the role of - or doing away with - gatekeepers, such transactions are not about to disappear.

When providers share the financial risk, however, they have an incentive to provide less care - and that can be a subtle problem to detect. This might range from simple inadequate treatment to the "automatic" referral of sicker - and thus more costly patients to specialists outside the capitated network, perhaps in exchange for kickbacks. It might also include such subtle acts as the establishment of inconvenient service locations or appointment hours for managed care patients, "designed to suppress patient traffic," Nahra wrote.

Initially, fraud squads will detect these kinds of abuses through statistical analysis, he predicts. But he cautions that legal proof won't be easy. In a case where a provider has systematically provided low levels of services to capitated patients, for instance, prosecutors will have to show that providing reduced care is a "scheme to defraud."

Insurers told the HIAA that they'd uncovered a wide range of managed care provider fraud. Ripoffs ranged from the embezzlement of capitation funds to falsifying new enrollee registrations, falsely elevating encounter rates in an effort to increase future capitated payments, illegally balance-billing patients and overcharging for copayments. Doctors also undercharge for copays in an attempt to lure more patients, either to collect more capitated payments or to use the insurance information to submit false claims.

In still another managed care scheme, the gatekeeper or PCP accepts kickbacks in exchange for referring almost exclusively - and more often than is genuinely necessary - to particular specialists, says Greg Anderson, director of investigations for Michigan Blue CrossBlue Shield. Although some plans reward doctors for keeping referrals to a minimum, physicians who accept kickbacks can more than make up for any incentives they might forfeit. And, says Anderson, "Kickbacks are really hard to prove."

Some investigators also suspect that private capitated plans are being charged for excessive lab services and testing by some hospital emergency departments, which can bill them separately. Another variation: routinely admitting patients at 11:55 p.m. instead of 12:05 a.m., to collect for an extra day's stay.

Higher Insurance Rates

The Canadian Coalition Against Insurance Fraud defines insurance fraud as any act or omission with a view to illegally obtaining an insurance benefit -- in other words, any action where a claimant walks away with money that he or she is not entitled to. Insurance fraud includes a full range of fraudulent acts. Examples include: completely fabricated claims, inflation or padding of genuine claims, false statements on insurance applications, and internal fraud.

Fraudulent claims represent approximately 10 to 15% of claims paid out. General insurance fraud amounts to approximately $1.3 billion per year in Canada. Honest policyholders through increased premiums pay this cost. When the toll on other societal resources is factored in, insurance fraud costs an additional $1 billion per year. Police must investigate crimes in which the details have been altered, making the investigation more costly and time-consuming, or which, in fact, never occurred; firefighters risk their lives and expend valuable resources to extinguish arson fires; fire marshals investigate the cause of the fire; health service providers treat patients injured in arson fires or staged accidents, or who fake injury to make claims.

Higher Costs For Your Health Insurance

Americans pay about $ 1 trillion in health care costs per year. According to the United States General Accounting Office, 10 percent of what we spend on health care is fraudulently billed in services not rendered, overcharges, duplicate charges and other health fraud schemes. That means that $100 billion per year is fraudulently billed!

If you’re considering term life insurance, keep in mind that there are many different kinds of term life insurance. This includes decreasing term insurance, increasing term insurance, increasable term insurance, decreasing term insurance and renewable term insurance among many. It’s important to find the type of term life insurance that fits your needs best.

Decreasing term life insurance reduces the coverage of the policy year on year. The policy holder usually requires the cover for a loan repayment such as a mortgage or to cover a potential inheritance tax bill.

Increasing term life insurance is just like basic term life insurance, except that, as the name suggests, the level of coverage increases. Premiums increase along with the level of coverage as well. Increasing term insurance is suitable for long term insurance because increasing prices reduce the value of a fixed level of coverage over the period of the policy.

Increasable term life insurance provides the option of increasing the level of coverage either at specific intervals (such as every year on the start date of the policy) or specific events (such as marriage or the birth of a child). Premiums increase for additional cover, but they are based on your health at the start of the policy, even if it has deteriorated since.

Renewable term life insurance gives the policy holder the option to extend the insurance term when it comes to an end. The premium paid is the same at the start of the term, despite any deterioration in the policy holder’s health.

Always do your research when looking into purchasing term life insurance. Spending some extra time now deciding what is best for you will most likely save you a lot of money in the future.

So if you want to find out more about Life Insurance or even about Life Insurance Plan, you should click these links. You will also find valuable information about Nationwide Life Insurance, too.

Safety on the road should be one of your main priorities, especially if you are always on the go. Having an adequate auto owner's insurance would not just ensure that you are safe while driving. More importantly, it will give you and your loved ones peace of mind to know that you are adequately covered in case of emergencies since you can never tell when accidents can happen.

In getting the best auto owner's insurance rates, you need to make sure that you are getting the most out of your monthly insurance premiums. Your goal is to pay for an ample coverage for you and your vehicle in case of accidents.

There are a lot of ways on how you can get the best auto owner's insurance deal that there is. Take a look at these steps:

1. Shop around.

Look for a car rental or a car insurance company within your area. Better yet, ask fellow drivers who their car insurance provider is. Once you get a lot of positive feedback about a particular company, go there or call to check out their auto owner's insurance policy.

You can also go online or check the yellow pages to look for the best car insurance providers in your area so that you can get your money's worth, yet have enough car insurance coverage.

2. Take into consideration the make and model of your car, as well as your driving history.

Your driving record and history will show a lot about how you are as a driver. If you have been involved in a lot of automobile accidents in the past, this will reflect your being careless while on the road.

The downside to having such a poor driving history is that your auto owner's insurance costs will be considerably higher, as compared to a driver who has a clean driving history.

3. Narrow down your options of car insurance companies to one or two, then check out the finer details of the deals that they offer.

After asking around and having an idea of the basic rates, you can narrow down your list to one to two options. Then, personally go to the company and have a talk with a car insurance broker.

Ask them about the details of your insurance premiums, check out the repair options if you have been involved in an accident, and whether they will handle all the paperwork should an accident ensue.

For women drivers, there are discounted rates available and it is good to also check out your discount options.

4. Make sure that you understand the auto owner's insurance coverage plan that you will sign up with.

As in any contract, it is good to read the finer print and ask about anything that you do not understand.

All in all, you just need to make sure that you and your vehicle are adequately covered in the auto owner's insurance policy that you will get. Look for a company that will fit your individual needs while driving, to give you peace of mind during your journeys on the road.

More and more parents have to put their children in day care facilities, because both parents in the household have to work to pay the bills. Some of these parents are lucky enough to know someone who can baby sit their kids, or they have a family member that is willing to watch them while they are at work. Some other parents work out their schedules so that they are never at work at the same time, so they can take turns watching their kids. However the majority of households with two working parents will have to put their children in some type of nursery. The right nursery is often hard to find, and it can be a nerve-racking experience to find the facility and the people that make you feel safe to leave your kids. One criterion that parents use is the type and availability of nursery insurance that the day care provides.

Nursery insurance protects many different people who are involved with the nursery. Most insurance plans will protect the kids and the workers while they are at the day care facility. However some plans will also protect the children and the workers on their trip to and from the nursery. Still other plans will also offer protection on activities that are planned by the nursery. These plans basically provide coverage to the children and the workers to and from the nursery, while they are at the nursery, and also on any off-site activities that the nursery provides while the children are being cared for. These types of nursery insurance provide excellent coverage for your children, and the only time they are not covered is when they are at home with you. Most of these insurance plans will cover accidental medical bills, as well as accidental death and dismemberment. These plans can usually be customized for the nursery by changing the deductible, the amount of coverage, and even some of the options of the plan. As a parent you should know what type of nursery insurance your day care facility offers, and make the best decision for yourself and for your child.

You are probably familiar with common insurance – automotive insurance, life insurance, health insurance, and homeowner’s insurance. You might even be familiar with certain branches of each kind of insurance, such as the different levels of coverage available for automotive insurance, the different kinds of life insurance policies offered, the regulations that come with some health insurance policies, and whether or not you even need homeowner’s insurance. But are you familiar with title insurance? If not, read on for a quick education on title insurance policies.

Title insurance, most commonly, is an insurance policy that is purchased to protect the owner and the property – usually land – from claims against the ownership of the property. In other words, title insurance will protect you in the event that someone claims you don’t own property that you do, in fact, own.

Depending on the specific title insurance policy, you can be compensated for all procedures involved in proving your ownership of the property. Such procedures include hiring an attorney as defense and court proceedings. Depending on the specific title insurance policy, a title insurance policy will pay for the fees related to such procedures, and reimburse you for the money spent in the event that you win the case.

Having a title insurance policy is important because at anytime someone may show up at your door claiming to have rights to your property. Since property such as land is not something that deteriorates and just disappears or finds a new home in a junkyard, there are most likely people who have had some business with your land property at one time or another.

When you purchase your property, you may actually be purchasing land that others have certain rights to. In other words, you may not be getting a clear title. If this happens to you – if someone claims to have certain rights to your property – a title insurance policy will come in handy.

If you’re a driver who is aging, it doesn’t mean you are a driver who is facing a lack of automotive insurance. Quite the contrary, if you are a driver who is aging, you could very well be facing discounts in automotive insurance.

Depending on the automotive insurance company through which you are insured, you may be eligible for various discounts. For example, many insurance companies that specialize in more than one kind of insurance will offer discounts to policyholders who purchase more than one insurance policy from them. Many people choose to purchase both their automotive insurance policies and their homeowner’s insurance policies through the same insurance company, which results in a discount in premiums.

Some insurance companies also offer discounts to aging drivers who have good driving records, and for various reasons. Drivers certain ages, usually 50 years of age and older, who have been driving for many years, are viewed as being less of a risk than new drivers – especially if they have good driving records. Aging drivers are seen as more responsible. Plus, aging drivers are less likely to go “joy riding” like younger drivers are, which puts them at less risk for traffic accidents and violations.

Aging drivers who are looking for discounts should follow the same tips as any other driver. Drive a safe car, park it in a safe location, and make sure it has anti-theft safety components. Keep traffic violations and accidents to a minimum, if not nonexistent, and try not to drive a significant number of miles more than necessary a year.

Some automotive insurance companies even offer discounts for aging drivers who participate in driving programs that the insurance companies provide, or participate in with another company. These driving programs are designed to refresh and sharpen driving skills, as well as restore defensive driving tactics.

Talking with an aging parent about purchasing long-term care insurance isn’t usually a cheerful conversation. Fortunately, not everyone has to talk with an aging parent about purchasing long-term care insurance. Some aging people have enough money saved to cover the cost of long-term care. Many times aging widows can rely on the money from their deceased husband’s pension. For example, an aging woman who was married to a coal miner who developed black lung disease or another respiratory problem will usually receive a check until the day she, too, passes on. Sometimes these pensions are enough to cover the cost, or at least a chunk of the cost, of long-term care.

But not everyone has enough money to cover the cost of long-term care, and not everyone receives a pension to help cover the cost of long-term care. If you have an aging parent, or aging parents, it’s best to talk with them about purchasing long-term care insurance sooner than later.

Since most people don’t want to be told they’re aging, it’s best to approach the topic of purchasing long-term care insurance very delicately; otherwise, your aging parent may think you just want to make sure he or she is off your hands should he or she get sick and need long-term care.

Explain to your aging parent that while she is still full of energy and life, she is getting on in years. Express the fact that you love her, and want to make sure she has the best available care if there should ever come a time when she needs long-term care beyond your expertise or ability. Explain to your aging parent that you simply don’t want her to be without the best of care should there come a time when she needs long-term care, and that by purchasing long-term care insurance, you can all rest assured that the best possible care will be available if ever needed.

Many Americans have many more complaints with the American government and politics, and how ill-prepared the government was for helping American citizens before, during, and after Hurricane Katrina struck is only one example. However, it is apparent that the American government and the politics that surround it are not just sitting around waiting for the next disaster to strike – they have been making preparations, and not just for natural disasters such as hurricanes.

Natural disasters are not the only emergencies in which organizations have been founded to help citizens when insurance policies are nonexistent, or not enough; organizations such as the Federal Emergency Management Agency, better known as FEMA, have stepped in and helped during troubled times. However, past terrorist attacks, and present risks of terrorist attacks, have prompted the federal government to get involved and pass the Terrorism Risk Insurance Act, also known as TRIA.

TRIA may not be an organization like FEMA, but the act is designed arrange a provisional program that makes sure both citizens and insurance companies are prepared – as prepared as can be – in the event of a terrorism attack. TRIA does this by guaranteeing that the federal government will share the costs of losses due to terrorism attacks with insurance companies. This helps ensure that insurance companies will not, for lack of better terms, run out of money. It also helps ensure that American citizens provided with the help they needs, as well as be compensated for their losses.

Insurance companies were not adequately prepared for the financial losses that resulted from the September 11, 2001 terrorist attacks, and had to rely heavily on reinsurers, companies that make available insurance to insurance companies, to help pay the cost of damages. Now that TRIA is in effect, insurance companies are at less risk for being inadequately funded. Plus, the time it takes to underwrite an insurance policy is reduced since the losses have been reduced.

It has been common knowledge for some time that some auto insurance companies were using credit scoring to determine rates.

However, no one outside the industry seemed to know exactly what the companies were doing. However, Consumer Reports Magazine, with some difficulty, was able to get this information and reported on it extensively in the August 2006 issue.

It seems that insurance scoring is quite a bit different than credit scoring. Innocuous things like carrying more than two credit cards or applying for a new card within the last year can seriously decrease your insurance score and result in a major increase in premiums.

The insurance companies and the insurance scoring companies claim there is a statistical relationship between the “aggressive” use of credit and bad driving habits. What the insurers are trying to do is reduce their claims exposure.

Each auto insurance company – and it appears this might apply to some homeowners insurance companies as well – use different systems that give different weights to various things. It seems the companies are not really interested in your debt repayment habits, but rather the age of your credit relationships, the percentage of credit you use and in some cases if you just carry a balance on your accounts.

Other things that cause your insurance score and rates to rise are carrying the wrong types of credit cards, such as credit cards issued by department stores or finance companies – as some major retailers’ cards are. Even getting an auto loan from an auto manufacturer’s credit arm, like GMAC, can hurt your score.

Consumers Reports was also able to do some limited comparisons of how insurance scores can help or hurt you.

Those with the best scores can obtain discounts of 0 to 30% - as compared to rates charged by companies that don’t use insurance scoring – but those with bad scores can see their rates increase from 30 to over 140%. In dollar terms and depending on the company, this can mean a premium increase of from $300 to $3000 per year. About 50% qualify for discounts, while the other 50% pay more.

Consumer advocates argue that there is no real correlation between insurance scores and claims experience. They also argue that these scores discriminate against low income and minority insurance buyers. Some state insurance regulators have agreed.

So far California, Hawaii and Massachusetts ban insurance scoring for all insurance, while some other states have weaker protection.

When you are turned down for credit, the lender has to notify you of the name and address of the credit bureau it relied on to make that decision. Insurers are not required to do so, or even let you know if they used insurance scoring or which method they used.

As I indicated before, the companies use different methods of scoring. What one company considers objectionable, another might find okay or even ignore.

So it pays to shop carefully for insurance, especially if you are younger and have been using a lot of credit. A good way to do that is to use online brokers like which will allow you to compare policies and premiums online.

Insurance is generally something that you purchase in order to protect you and your family from the potential financial loss caused by a catastrophic event or serious illness.

But there are types of insurance that don't really provide that peace of mind for you, that are not required, that cost more than you could ever benefit from, and that are best avoided.

Here are 3 types of insurance that you can "just say NO" to.

Life Insurance Sold By Credit Card Companies

Credit card companies will offer you insurance that pays off your credit card balances when you die. If you already have a life insurance policy, either obtained on your own or through your employer, that will do the same thing. Why pay the credit card companies a much higher premium for the same thing?

Rental Car Insurance

When you rent a car, they always ask you if you want auto insurance which will cover you if you are in an accident in the rental car. If you have your own auto insurance, you will most likely not need this. Check with your agent to be sure, but most policies cover you regardless of what car you are driving. Even if your regular policy only offers this coverage by adding a "rider" to your policy, the cost of the rider will most likely be much cheaper than paying the higher per-day charge that the rental agency will charge you.

There are a couple of exceptions to note. If the car rental is for business use, check to see if your employer's business policy covers you. And if you will be driving outside of the US, your agent can tell you if you will require special coverage.

Unreasonably Low Deductibles

While this is not technically a "type" of insurance, it is an insurance expense that you can do without. A lot of people carry lower deductibles because of the peace of mind it gives them. But how many times do you really need this lower deductible? And nowadays, while you may be required to carry insurance, it is often detrimental if you actually use it!

So if filing a claim will jeopardize your insurance coverage, you may want to only file a claim that you really can't handle. It makes much more sense to raise your deductible and "self-insure" for the smaller claims, using the savings from your lower premiums.

If you decide to increase your deductibles, be sure to put your saved premium dollars into a savings account so that you can pay for those losses that fall below your increased deductible amount.

Specialty-type coverages, like the ones mentioned here, can usually be covered with another good broad-based policy that you already have. And why are these speciality insurance polices more expensive? It costs more for the insurance companies to administer these policies ... so guess who ends up paying for the extra costs

There are a lot of things in life which you can never put a price tag on. Among these are personal security and good health.

Having a healthy lifestyle is a must, but you can never tell what medical emergency might come up with you or an immediate family member. Thus, it is important for you to take steps to insure that you have a reliable health insurance plan.

With health insurance premiums soaring through the roof these days, it is important to get a health insurance plan that will give you your money's worth, while insuring that you and your dependents have an ample coverage.

There are several government-sponsored health insurance premiums that you can take advantage of like Medicare and Medicaid. For private health insurance plans, you can use the one provided by your employer or health plans from certified health care providers that you can get for your self.

'Blue Cross and Blue Shield Health Insurance Plan'

This health insurance plan is provided by the Blue Cross and Blue Shield Association. Their familiar blue cross and blue shield logo is the result of the merging of the National Association of Blue Shield Plans with the Blue Cross Association in the early 1980's.

Since the emergence of the two separate companies more than 70 years ago, it has become a trusted name in American health care.

The Blue Cross and Blue Shield Association is comprised of independent health insurance companies in the country. Now, there are some states where the Blue Cross and Blue Shield companies are considered separate entities, while in many other states these two have been combined, resulting to the Blue Cross and Blue Shield Association.

Members of the Blue Cross and Blue Shield Health Insurance Plans can take advantage of health care available for US citizens within the country, outside of the US and for those who are working abroad or the retirees living outside of the country.

Here are some of the Blue Cross and Blue Shield health insurance plans currently available:

1. HMO's or Health Maintenance Organization

This is a type of Blue Cross and Blue Shield health insurance plan which provides coverage for health care establishments with which the HMO has a contract.

HMO health care plans are used by students, families and travelers who work out of their originating state.

2. Health Care Plans for Blue Cross and Blue Shield Card Holders

Blue Card and Blue Shield card holders can present their Blue Cards to the nearest hospital in case of an emergency. Check with the establishment who issued your Blue Card for you to have an idea of the extent of the coverage of your health insurance plan.

When you are away from home, you can also use the Blue Shield and Blue Cross health insurance plans to receive the health benefits that you are entitled to.

After reading this article you will become health insurance expert. You will be able to teach your broker about health insurance. Health insurance is simpler to understand than you think. There are only about three most important things to know about health insurance. The most important thing is the one that is over looked the most.

Let’s think about it for a minute what could be the most important thing when it comes to Health Insurance. When I asked someone that question I usually get responses like deductible or co-pay to go to a doctor. Well not quite… there is one thing its the reason you have health insurance in the first place. Ask your self this question. Why do you really have health insurance?… Let’s take a look at some facts. Based on IRS Census number one reason for bankruptcy in the United States is medical bills, specifically the ones over seventeen thousand. Then number one reason to have health insurance is to protect your self from medical bills that are over seventeen thousand. We do not have to be that extreme. We can just say to protect you from anything that is out of your budget. There fore health insurance is designed to protect our self’s from large unexpected medical bills. In fact about twenty to thirty years ago all the health plans only really were designed to protect us from large medical bills. Most plans did not cover things like doctor visits, physicals, lab work and etc… No one ever went bankrupt because they could not pay their doctor visit bill.

Here is why we have health insurance plans that cover doctor visits and other small things. Back then insurance companies were competing for business from large companies and they wanted to offer benefits that would appeal to large companies and their employees. There fore they started adding things like coverage for doctor visits. It would be the same as having car insurance and having car insurance pay for things like oil changes, break downs, anytime you need a part for your car the insurance company would just pay for it. It doesn’t make any sense does it? The car insurance companies will just charge you a lot more money for coverage like that. That is exactly what is going on with health insurance. We are used to corporate plans where plan covers everything and all we would pay for is a small co-pay of like $10. Now these same plans are bankrupting the large companies as they are getting huge rate increases. I recently heard that part of every GM car there is about $1500 worth of health insurance expenses, in every car.

The point that I am making is that health insurance itself is actually really cheap, if you understand how it works. There fore what you should be really concerned with is large medical bills since they are the major cause of bankruptcies in the United States. One more thing, since October, 2005 you cannot file bankruptcy on medical bills.

Number one thing you should be looking for in the health plan is a phrase “Maximum out of Pocket”, it could also be something like “Maximum Yearly out of Pocket”, and both mean exactly the same. What that means is that is the maximum you can be out of pocket in any given year. Usually that includes all the medical expenses; most plans do have exclusions for prescription drugs. With prescription drugs you are still going to be responsible for co-pay. That is the number one things you should look for.

Second thing you should look for is your deductible. There are a lot of plans that I see that say they have no deductible. Be extremely careful and read exactly how those plans work. First of understand one thing. THERE IS NO SOMETHING FOR NOTHING. I get a lot of people tell me “Oh yeh I got thins great plans with no deductible and I am paying $50 a month.” Yeh Ok… Then I take a look at their plan and explain how it works to them. Let me repeat it again THERE IS NO SOMETHING FOR NOTHING. There is one thing to keep in mind then looking at big name insurance company. The cost of health insurance no matter where you look is pretty much the same. The only reason there are soooo many plans is because insurance companies trying to come up with all kinds of creative way to have you to apply for coverage with them. Here is how plans with no deductible work (there are exceptions). There is no deductible but there is what’s called co-insurance. What that means is you will be responsible for a percentage of everything until you reach your Maximum out of Pocket. Usually plans with no deductible have a very high Maximum out Of Pocket limit, somewhere around $7500. For example most of the time co-insurance on plans with no deductible is 60/40 or 50/50. What that means is you is you are going to be responsible of 50% of everything that you use your health insurance for until you reach your maximum out of pocket, witch could be $7500. Most plans that do have deductible still have co-insurance after the deductible. Co-insurance with plans that do have a deductible is usually somewhere around 20/80 or 30/70 (first digit is the percentage that you are responsible for). That means that you are still responsible for 20 or 30 percent of the bill until your maximum out of pocket is reached. Plans with deductibles usually have lower maximum out of pocket somewhere around $4000 to $6000.

Third what you should look for is your co-pays that includes your doctor visit, your physicals, your prescriptions drugs. Everything else most of the time would apply towards your deductible. When something applies toward the deductible, what that means is as you use you health plan and you pay $30 for your doctors visit co-pay that $30 gets applied towards your deductible. There fore as you use your plan your deductible keeps decreasing.

My personal recommendation for anyone will be to pick a plan with higher deductibles. Remember that most people filled for bankruptcy because of $17000. Pick plans with deductibles higher that $2500. Unless you are just paranoid and planning on going to the hospital often, or maybe you hurt your self on purpose and get hospitalized so you can see your favorite doctor. I do not know what your reasons are, just keep in mind that you do not have to support insurance. Insurance companies are betting that you are not going to be hospitalized and statistically they are right that is why they are making money. Follow statistics and realize that chances of you being hospitalized are really small. If you pick a plan with a high deductible you will save your self thousands of dollars a years. If you do get hospitalized just remember that hospitals will be happy to work with you and set up a payment program to pay of any balance you might owe them. You can set up a plan to pay of that balance in five years buy making payment with no interest. Save that money and invested it, you will get farther that way. If you like supporting insurance companies by paying high premiums then, Thank you for your support!!!

Whether traveling for a short period of time or living overseas for an extended stay it’s a good idea to have medical insurance overseas. Most plans no matter how comprehensive in ones native land are basically useless when in another country. Since the whole idea of insurance is to make sure that contingencies are covered, it’s a good idea to get a health insurance policy that will be applicable in another country.

What A Policy Should Include

When looking for a policy that will hold you in good stead during your overseas jaunt there are the usual variables in coverage to consider as well as others. By virtue of being in a different country than your native land issues may arise that wouldn’t at home. One of those is evacuation. What if you need to be transported back to your native land and that can’t be facilitated in any way other than through a medically induced evacuation. Such an event would be extremely expensive if you had to pay for it out of pocket. Just something to keep you eye out for when choosing medical insurance overseas.

Cheap is good but making sure to get all the necessary ingredients from the policy are something to strive for as well. When going online to get quotes on this type of international insurance don’t forget to look for how the policies handle such things as, hospitalization, emergency care, medications, transplants, outpatient services, emergency medical examinations, air ambulance within the country, terrestrial ambulance conveyance, and maternity.

Other considerations include whether you would have to use certain specified doctors and facilities or can you pretty much count on being able to use anyone who is available wherever you find yourself in this foreign land. That could be a very important consideration to keep in mind as you might find yourself in need of medical attention and the potential distance from a plan approved doctor might mean the difference between being able to take advantage of his/her services or not.

As always a well researched decision usually provides for the best results. Knowing what’s possible and what might be needed will guarantee making a good choice when buying insurance of this kind.

One of the drawbacks of managed care health insurance plans like HMOs and PPOs are the restrictions placed on treatment coverages that can limit your healthcare options. Utilizing a Health Savings Account (HSA) is one way to put more flexibility into your health insurance plan. Contributions you make to an HSA are yours to spend on current and future medical needs, giving you the opportunity to research your health options, consult your physician, and make medically appropriate treatment choices without consulting your insurance gatekeeper or case manager.

HSA Basics

An HSA is a tax-advantaged savings and investment plan, similar to an IRA. Funds contributed to the HSA remain in the account from year to year, and are not subject to any “use it or lose it” provisions. The plan participant owns and has responsibility for the HSA. You will often hear HSAs referred to as consumer-driven or consumer-choice programs. This is because an HSA allows the account holder to make decisions as to how the account funds will be used. HSA savings can be set aside to cover medical emergencies, or used right away to pay for routine medical expenses.

Money deposited to the HSA is tax-deductible. If your HSA is offered as an option with an employer-provided health plan, both you and your employer can make contributions to it. You can deposit up to the lesser of 100 percent of your health plan deductible, or the maximum legal limits ($2,700 for individuals, $5,450 families). Funds you deposit into the HSA are an “above the line” deduction on your federal income tax. In other words, even if you do not itemize, you will get the deduction. You incur no federal tax liability for funds your employer (or others) contribute to your HSA. Tax treatment of HSAs can vary by state, although the majority of states currently comply with federal guidelines and offer deductions for the accounts.

HSA Eligibility

There are some rules applied to eligibility for an HSA:

Account owner must be an adult (children cannot have their own HSAs) who cannot be claimed as a dependent on someone else’s tax return. Account owner must be a participant in a High Deductible Health Plan (HDHP). An HDHP is a health insurance plan with a deductible of at least $1,050/individual and $2,100/family. Account owner cannot have any other health “1st dollar” insurance coverage. 1st dollar coverage includes a primary health insurance plan other than the HDHP, Tricare, Medicare, FSA, and HRA coverage. HSA Distribution Rules

HSA distributions are tax-free when used to meet medical expenses. Allowable expenses include most medical care and services, prescription and over-the-counter drugs, and dental and vision care. If you use account funds to pay for non-medical expenses, they will be subject to income tax and a 10 percent tax penalty. You cannot use the funds to pay for medical premiums except for:

COBRA continuation coverage Long-Term Care Insurance Medicare premiums and expenses Short-term health insurance while receiving federal or state unemployment benefits If you become disabled, or when you reach the age of 65, the 10 percent federal tax penalty for withdrawing HSA funds to pay for non-medical expenses no longer applies.

Varying market conditions have led to many changes and adaptations in the surety market. This article updates all the bankers and lenders on the existing situation as well as trends within that gathering of financial organizations writing bonds for the sake of construction industry. In accordance with the contract documents surety bonds swear project owners that contractors will execute the work and also pay precise subcontractors, laborers, and materials suppliers. Three basic types of contract surety bonds are:

• The bid bond assures that the bid has been proposed in good faith and the contractor will get into the contract at the price bid and provides the requisite performance and payment bonds.
• If the contractor fails to carry out or failed to meet the terms and conditions of the contract, performance bond protects the owner from financial loss.
• The payment bond guarantees that the contractor will pay all of its subcontractors, laborers, and suppliers needed for the project.

The use of surety bonds on private construction projects is at the owner's judgment. Alternatives to bonding embrace letters of credit along with self-insurance, but these options neither offer 100% performance and payment protection, nor ensure a competent contractor. In case if a project should be bonded, the owner should specify the bonding requirements in the contract documents. Subcontractors may be required for acquiring surety bonds to help out the prime contractor manage risk, especially if the subcontractor is responsible for a momentous part of the job or provides a specialty that is very complicated to restore.

Sureties always need to be sure. Most of the surety companies are subsidiaries or divisions of insurance companies, but both surety bonds and traditional insurance policies will create risk-transfer mechanisms synchronized by state insurance departments. Performance as well as payment bonds typically are priced based on the value of the contract being bonded, but not on the size of the bond. If the contract amount is altered, the premium will also get adjusted according to the change in the contract price. Fortunately, survival continues to be a vital instinct for the contract surety industry. So the strong economy has kept contractors busy and so the failures become less automatically. However, the profitable bonding business attracted new entrants into surety, and surfeit capacity being accumulated in the surety market. And as competition for bonding got intensified, bond premiums declined.

Premiums Rise in surety bond premium may have leveled off-or not, based upon the number of factors. As the market gets tightened, surety companies have also boosted their pricing structures accordingly for wrapping up all the increased losses and the increased cost of reinsurance, personnel, and other costs of doing business. Finally, after a brief period of readjustment, surety bond premiums are now becoming more realistic for the value provided.

Weigh the Risks Both surety and banker industries have underwrite risk to contractors, and both have enjoyed the good-time profits of the cycle's expansion phase and also suffered many losses during its contraction phase. Bankers should pay all its attention to the surety industry only because of its capability and eagerness for replacing risk that has a complementary collision on financial institutions. The less construction risk the bonding company underwrites, the more risk the lender must consider, so both the surety and the banker need to assess as well as monitor their combined risk appetites for the construction industry.

Auto insurance quotes are generally free so don’t just take out an auto insurance policy based on the first auto insurance quote you get.

The best possible way for saving money on your auto insurance is to get at least three insurance quotes. Granted, getting multiple insurance quotes will take you time but if you compare your hourly rate at work to the amount you could save on your auto insurance I think you will agree that getting several auto insurance quotes is a valuable use of your time.

One of the best ways to get as many auto insurance quotes as possible in the shortest period of time is on the internet. You might have to trawl through a few user unfriendly insurance quote sites but there are several little gems out there where you can get multiple auto insurance quotes in one go and most of the main providers of auto insurance not only offer online quotes but also provide consumers with discounts when they get their insurance quotes online.

A decent auto insurance broker is well worth their weight in gold. Using a broker to get your insurance quotes will mean that you only have to fill out one form and then the auto insurance broker will trawl through loads of insurance quotes until they find the best possible insurance package for you. What’s really neat is that nowadays you don’t even have to leave the comfort of your own home as there are more and more insurance brokers offering their services on line.

As you can tell I love the online approach, for those that hate the sales pitch that accompanies a ‘face to face’ or telephone insurance quote online insurance providers are the answer to your prayers.

Don’t wait until you change cars every year that better offer could be available. Just because you got the best possible auto insurance quote last year it doesn’t mean to say you can’t beat it when the renewal notice comes through your door. With online insurance, it’s easy, spend a little time one evening getting comparable auto insurance quotes, there’s loads of deals out there with so many auto insurance providers fighting for your business and you could save yourself wads of cash.

When looking for alternative auto insurance quotes make sure that you check that the lowest auto insurance quotes are for a similar level of cover to those that are more expensive.

Always know what you are buying, don’t leave yourself exposed by paying for a cheaper but relatively useless auto insurance.

One last word of advice, the lowest auto insurance quote isn’t always the best to go for even if it does provide you with the right amount of cover. Low cost auto insurance is good but it’s also important to use a reputable insurance provider. There is no point getting really cheap car insurance if the company that you are insuring with either messes you around, or even worse, doesn’t pay out

If you are thinking of cutting down your insurance costs then you will definitely have to put in some efforts. You will have to explore all the possible options and resources if you want to save money on insurance. Here are some ways of cutting costs and saving money:

1. Get as many quotes as possible from several insurance companies or agents. This will help you to decide which company will be the most economically viable for you. This is the best way to cut down the cost, because there are many companies competing with each other for your money, so take advantage of this competition to get the best insurance provider.

2. It is advisable to get your car, home or health insured from one insurance company. If you opt for different companies to meet your various insurance needs, it will prove to be very expensive. By selecting a single company, chances are that you will get special discounts along with lower premium rates. 3. Try to avoid double coverage when you get your car or home insured. If you are living on rent, you need not get the house insured, as the property owner would cover that.

4. Before purchasing any insurance policy you are advised to assess your need for that policy. You can cut down the insurance policy cost if your needs are minimal. For instance, you can take a simple life insurance policy if you have no family dependent on you, and there are enough resources with you to take care of any personal or business debt after your death. So, choose a suitable policy, keeping an eye on your needs.

5. Look out for the various discount offers insurance companies provide. If you want a life insurance policy, you can take advantage of discounts that are given to people with good health. If you are healthy and do not smoke, you will be preferred for discounts on life insurance policies. Make use of various safety measures in your house because you may get discounts on home insurance.

6. You can cut down the cost of insurance by reducing the money that is spent in processing the insurance. For example, you can make annual payments, which will decrease the administrative costs.

7. Make use of professional discounts that are offered by various professional associations.

8. You can also cut down insurance costs by paying your bills in time and maintaining a good credit record. For example, insurance companies set the price of a home insurance policy depending on the kind of credit record their clients hold.

Remember, that when you purchase insurance policies for your automobile or home, you are making a kind of investment. This should not be considered as a waste of money and resources, since this investment will protect your other investments too. Any ill-fated event can take place in your life in an unexpected manner so be ready to face it with an insurance policy. Look around for an insurance company that not only provides a good policy, but is easy on your wallet as well.

All Australian insurance companies are not equal. Some are very easy to deal with, pay claims promptly and cheerfully, others are not. I worked in the insurance industry for a few years and I got to know who were the best and who were the rogues. I remember very early in my career dealing with a claims inquiry. An elderly lady rang up and wanted to claim on her roof that had been blown off in a storm in Sydney during the late 70's. She had been a loyal client for over 60 years and never had a claim.

In fact her insurance policy was that old that details were nearly impossible to read. As a junior in the claims dept, I didn't know what to do and consulted with my supervisor on what action to take. His answer? Deny the claim! See what I mean? That was a company to run a mile from and I left shortly after, shaking my head in disbelief.


Insurance From Wikipedia, the free encyclopaedia Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.

Definitions of insurance from research on the Web:

1. Promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company

2. A contract in which one party agrees to pay for another party's financial loss resulting from a specified event (for example, a collision, theft, or storm damage). Lease agreements generally require that you maintain vehicle collision and comprehensive insurance as well as liability insurance for bodily injury and property damage.

3. In blackjack, a side bet that the dealer has a natural. Insurance is offered only when the dealers up card is an ace. The insurance bet wins double if the dealer has a natural, but loses if the dealer does not. Or more simply: The player bets that the dealer has a blackjack when the dealer's up card is an ace.

4. Protection against a specific loss over a period of time that is secured by the payment of a regularly scheduled premium.

5. A contract whereby one undertakes to indemnify another or pay a specified amount upon determinable contingencies.

6. A device for the transfer of the risks of individual entities to an insurance company, which agrees, for a consideration, to assume to a specified extent, losses suffered by the insured.

7. Plan in which individuals and organization who are concerned about potential risks will pay premiums to an insurance company, who in return, will reimburse them if there is loss. To generate a profit, the insurer will invest the premiums it receives. Examples of the different types of insurance available are automobile, home, health and worker's compensation. Whereas in most cases the insured is paid for their loss, with life insurance a beneficiary is paid when the insured person passes away.

8. A system under which individuals, businesses, and other organizations or entities, in exchange for payment of a sum of money (called a premium), are guaranteed compensation for losses resulting from certain perils under specified conditions in a contract.

9. A contract that provides compensation for specific losses in exchange for a periodic payment. An individual contract is known as an insurance policy, and the periodic payment is known as an insurance premium.

10. Coverage by a contract binding a party to indemnify another against specified loss in return for premiums paid.

11. A contract of indemnity against specified perils.

12. A contract in which one party agrees to compensate another party for any losses or damages caused by risks identified in the contract in exchange for the payment of a lump sum or periodic amounts of money to the first party.

13. A system whereby individuals and companies who are concerned about the potential for loss pay premiums to an insurance company which, in turn, will reimburse those individuals and companies in the event the loss occurs.

14. The business of providing financial protection for property, life, health, etc against specific occurrences. intermediate Level above basic but below advanced. internship Employment a student (especially of medicine) takes to gain experience for a qualification. intro week An introductory week for new university or college students which enables them to become familiar with their institution, its facilities, their course and the town or city they will be studying in.

Hello, my name is Chris, and I hate insurance. My father hated insurance before me, and for all I know his father before him. More...Kind of a family tradition I suppose. I have insurance for my home, insurance for my car, insurance for my life, insurance for my boat, insurance for my kids, insurance for my health, insurance for my teeth, insurance for my prescriptions, insurance for my bank loans, and insurance for when I travel. Wow! It's a wonder, I don't have insurance for my insurance. Don't laugh, I'm sure I heard somewhere that there is an insurance company that insures other insurance companies. Someone must be making a killing off of all this. The only insurance I don't have these days, is pet insurance. Only because we don't have a pet, and the kids are lobbying hard on that front.

Why Do We Hate Insurance So?

Everyone hates insurance, because it always feels like we never get anything in return for it. Normally, when I buy something, I get to walk out the door with it, or hear it, or see it, or just plain enjoy it. Insurance does none of that. It certainly seems like a pretty one sided deal. "Thank you for the cheque Mr Campbell. Oh, and just to be sure, we'll be taking a little more next month, and the month after and the month after that. Have a nice day." Great I think. And do I get to enjoy anything for writing all those cheques. Nope, but don't worry your very securely insured now. I cringe just thinking about how much I've spent on insurance over the years. And, feel even worse when I think how little the insurance companies have actually paid out to me. In hindsight, it seems like just a really bad investment. I feel like I've been buying stock in all these crappy companies over the years that just keep going bankrupt. The biggest scam of all, is that most people who buy insurance, are paranoid to actually file an insurance claim, because their rates will skyrocket. Not to mention that all those previously oh-so-friendly insurance company employees treat you like a leper, who just ran over their puppy three times, and stole all their kids halloween candy.

What Is Your Deepest Fear?

We all want guarantees, we all want to know everything is going to be alright. We hope that things remain status quo, and their are no major disruptions in our lives. That's what insurance buys. Peace of mind. Protection from the unknown. Salvation from disaster. And when it works, that's great. Insurance is kind of a socialist sort of thing. Everybody chips in a little bit to protect the unfortunate. And that's good. I do feel better, if I think of my insurance premiums saving someone else from a life altering disaster. And the optimist in me believes that is what truly happens most of the time. It's when insurance companies refuse to pay out for people that really need it, the irks me the most. Especially when it's done just to line the pockets of shareholders and greedy CEO's. That's really not what insurance is for. So, be smart with your insurance purchases, and remember, we're all in this together.

A Life Insurance Policy is a personal property, like a house, car, antiques, old painting or stocks and bonds. You can sell your life insurance policy like you sell your other personal property items. Life insurance may now be viewed as a traditional asset that can be purchased or sold. Sale of Life insurance policy is called as Life insurance settlement, Life settlement or Senior settlement.

Millions of seniors are unaware of the flexible and liquefiable insurance policy, they can sell for cash. The flexibility of a Senior settlement or Life settlement permits policy owners to sell all or a portion of their life insurance policies.

When the life insurance policy owner sells own life insurance policy, he or she transfers all rights and obligations to a new owner. The purchaser of the policy will then become the new owner and the new beneficiary of the policy and is then responsible for making all of the future premium payments. The new owner now collects the full amount of the death benefit when the insured dies.

Life insurance settlements present a unique opportunity to the policy holder to extract the maximum possible value from an existing life insurance policy and repurpose those funds for whatever financial needs may exist. Many people choose this option because the cash value of a life settlement generally exceeds the surrender value that would have been paid by the life insurance policy.

Policies are sold for many different personal or business reasons. Below are some of possible reasons for considering a Life Insurance Settlement:

Personal:

1. The original purpose or need for the policy has changed or has diminished totally.

2. The Beneficiary of the policy is deceased.

3. Policy holder is chronically ill; selling current policy provides needed funds to cover financial burdens caused by illness. A Viatical settlement gives the ability to regain needed financial security.

4. Policy has not met the original illustrated values and premiums need to be increased to keep policy in force.

5. If policy holder is over the age of sixty-five, a Life settlement or Senior settlement maximizes the current assets by eliminating premiums and getting required funds that can be used today.

6. Insured person wishes to distribute the funds/ liquid assets as per his or her desire while living.

7. To make funds available for other investments like real-estate, stocks, bonds or to start a new business.

8. Divorce settlement has altered the need for life insurance.

9. Personal financial situation has gone bad and making premium payments is unaffordable.

10. Sale proceeds from Life settlements are needed to pay down loans or outstanding debt.

11. The policy owner’s current asset mix is weighed too heavily in life insurance.

12. A client wishes to invest in a more appropriate product, such as a lower cost survivor policy, single premium annuity for supplemental income, long term care insurance, long term care insurance or other asset protection tools.

13. A family trust has eliminated the need for personal life coverage.

14. Policy holder need to fund an alternative healthcare that present insurance does not cover.

15. Insured person has left an employer, so he or she needs to sell old group policy.

16. Policy was purchased to ensure the availability of funds to pay off a mortgage and the mortgage has been paid.

17. To take a long awaited vacation or to buy a luxury item that was never affordable.

18. When a policy is in danger of getting lapsed the policy holder can turn it into cash.

19. You can use life settlements to donate to your favorite charity or cause and feel much better about yourself knowing that you have done your part to make the world a brighter place.

Business:

1. Business owned policies those are performing below expectations.

2. Key person insurance policy is no longer required due to retirement or change in business structure.

3. A policy purchased to finance a buy/ sell agreement is no longer needed after the business has been sold.

4. Bankruptcy of business has caused liquidation of assets.

5. Deferred compensation programs in business have changed or not required.

6. If you are a corporation, selling corporate owned life insurance lets you regain back premiums paid on no longer needed policies.