Search Results for: blog what the medical loss ratio means for you

Insurance Blog Week in Review – June 17 – 23, 2012

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Each and every week, the Insurance Blog Week in Review brings you an easy way to “ketchup” on all of the blogs that appeared here in the past week. There can be anywhere between twelve and fourteen blogs here each week, and they can go by pretty fast. What did you miss? Another Reason to Cover Pre-Existing Conditions Health insurance companies are considering people who have donated a kidney as having a pre-existing condition. The insurers are using this as an excuse to deny coverage. This is horrible! California Replicates Health Care Reform Laws If the Supreme Court decides to … Continue reading →

Reasons for Consumers to Love the Medical Loss Ratio

The medical loss ratio is a part of the Affordable Care Act. By now, you have probably become aware that the Affordable Care Act is a series of health reform laws that are designed to improve health care, and health insurance, for consumers. The medical loss ratio is also a wonderful thing for consumers. The medical loss ratio is a law that requires health insurance companies to spend a specific percentage of the money they get from premiums on medical claims, or activities that will improve the health of their customers. For most insurers, the amount is 80%. However, really … Continue reading →

Let Us Help You Be Prepared

There are so many reasons that you should make sure that you, your family and your loved ones are prepared. From natural disasters and terrorist activity, to economic depression and food shortages, to medical emergencies and health threats to unexpected job loss and a change in resources, the odds of you coming out alright increases greatly when you have done some preparation in advance. Being prepared does not mean being scared. In fact, it is the opposite. Knowing that you have a plan and the resources to get through the unexpected can really give you peace of mind. What is … Continue reading →

What the Medical Loss Ratio Means For You

It’s official! The rules about what insurance companies can, and cannot, include as part of the “medical loss ratio” have been decided. Government regulators worked together with the National Association of Insurance Commissioners to come up with what is allowed, and what is forbidden. How does this affect consumers like you? People who have health insurance must pay premiums. Often, these premiums are paid monthly. New regulations that begin in 2011 require insurance companies to pay between 80% and 85% of the money they get from their customers on medical claims, or on activities that will improve the health of … Continue reading →

Preparation

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Part of living frugally includes preparing for the future. If we are able to set money aside for an emergency, then we can avoid some potential financial disasters in our lives. These emergencies can come in various forms. A few emergencies that you might want to consider preparing for are listed below. Check out the articles about each topic found at the Preparedness Blog. Financial Emergencies Financial emergencies can cover any type of large, unexpected expense. Insurance and savings are the best ways to prepare for most financial emergencies such as expensive repairs, job loss, death of a family member, … Continue reading →

Glossary of Special Needs Adoption-Related Terms “E-F”

Special Needs and Adoption-Related Terms: Adoption terms and special needs words may vary from agency to agency.The terms used in this Special Needs Adoption-Related Glossary may be slightly different from one State to another. A | B | C | D | E-F | G-H-I | J-K-L | M | N-O | P | Q-R | S | T-U-V-W-X-Y-Z E Emotional disturbance: Severe, pervasive or chronic emotional and or affective condition preventing a child from performing ordinary daily tasks. Emotional disturbances are sometimes displayed by children with an inability to build or maintain relationships, inappropriate behaviors or feelings, unhappiness or … Continue reading →

The Medicaid Program in Maine Has Problems

The Medicaid program in Maine is full of difficulties. The state has a history of asking the federal government for waivers from certain portions of the Affordable Care Act, some of which result in changes to Medicaid. The Medicaid program in Maine is not as robust as the programs in other states, but it does still exist. Medicaid is a public, or government run, form of health insurance. It is designed to cover individuals and families who are low income and who cannot afford to purchase a health plan from a private insurance company. Medicaid is funded, in part, by … Continue reading →

Helpful Health Information From My Health Insurer

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Today, in the mail, I got something unexpected from my health insurance company. It wasn’t a bill, and it wasn’t a scary letter about cancellation. Instead, it was a helpful little pamphlet with advice about dealing with asthma. Part of the Affordable Care Act includes something called the medical loss ratio. It requires health insurance companies to spend at least 80% of the money that they get from customer’s health insurance premiums on things that actually can improve a person’s health. The insurer cannot include things like salaries, advertising costs, or other administrative costs in that 80%. One of the … Continue reading →

University Health Insurance Plans Getting More Expensive

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College tuition seems to go up every semester. We all know that the books that are required for classes at universities are expensive. The price of the student health insurance is about to increase. This is part of the Affordable Care Act, and it is to ensure that those policies will actually cover things that they are supposed to. Have you heard of mini-med health insurance? These types of plans have been referred to as “junk health insurance”. A mini-med plan will cover very little of a person’s health care needs, because of the incredibly low caps that the plans … Continue reading →

A Review of Health Insurance Changes in 2011

The year 2011 has brought many changes to health insurance. Most, if not all of it, can be attributed to portions of the Affordable Care Act. There are still plenty of things about the American health care system that need to be improved. Even so, 2011 was definitely a year that brought many improvements to health insurance. This year, the Affordable Care Act brought Americans health reform laws that improved people’s ability to find health insurance coverage. It also improved health insurance by limiting some of the things that insurers can do, and changing how they do other things. 2011 … Continue reading →