Life And Health Choices

The Coronavirus Pandemic is having an impact on every part of our lives. According to Moody’s Analytics,  nearly 80 million jobs  in the US are currently at risk due to the coronavirus or COVID-19, more than half of the jobs in the US economy. Impacts are being felt throughout the  retail, food, hospitality, service and entertainment industries  with many businesses and  productions  completely shutting down. If people continue to delay travel plans and cancel flights and hotel rooms, service-industry workers will likely be laid off, experts say. Health professionals advise people to only travel if necessary to lower their risk of catching the virus, but also to prevent the risk of spreading it. The virus has a median incubation rate of 5.1 days, a recent report found, which means people could travel without showing any symptoms at all. Many corporations are not paying their workers, extending health insurance benefits, or  offering severanc...

You've read a story like this and just shake your head: Alexa didn’t want her upcoming vacation trip ruined by strep throat. So, after it had lingered for more than a week, she decided to get it checked out and visited her primary care physician. The visit was quick. Alexa got her throat swabbed, gave a tube of blood and was sent out the door with a prescription for antibiotics. She soon felt better and the trip went off without a hitch. Then the bill came. Read the full story. Total Bill:  $28,395.50 for an out-of-network throat swab. Her insurer cut a check for $25,865.24. $28,395.50! I hope you never have to deal with a situation like this one. It does happen and you should be prepared for the upcoming medical procedure you have scheduled or any emergency medical need you may have. There are several strategies both before and after receiving medical services to protect yourself from high medical bills. First and foremost, understand the health insurance and supple...

Do you have a health insurance plan? Good to know should something happen to you, or your spouse, or a dependent, that their medical needs will be taken care of. The cost of procedures, tests, treatments, hospital and doctor costs are all taken care of. Right? Do you know what your plan's deductibles are?  Co-pays ?   What is the plan's maximum out-of-pocket costs ? How much of the total cost would you be on the hook for? The most you have to pay for covered services in a plan year is the amount paid on deductibles, copayments, and coinsurance. Your health insurance plan pays 100% of the costs of covered benefits. The out-of-pocket limit doesn't include your monthly premiums. It also doesn't include anything you spend for services your plan doesn't cover. For the 2020 Obamacare plan year ,  t he out-of-pocket limit for a Marketplace plan is   $8,200   for an individual plan and   $16,400   for a family plan. Private plans, includi...

Leaving A Job Means Needing New Health Insurance. Frank is an industrial engineer with a local firm and has more than 20 years experience and 6 years at his present employer. He has a wife who works part-time and a teenage daughter. His company was recently purchased by an international firm and everyone knew there would be cost-cutting measures. Frank was one who did get cut and what he knew was also going to happen was the loss of his  health insurance . Frank made a decision to not look for new employment. Instead, he decided to go into business for himself as a consultant. He also knew he had to evaluate  self-employed health plan  options. Frank didn't have any major health issues. He did go to a doctor for routine exams every year and he had hypertension which had been treated and was under control. Even with Frank, his wife, and daughter all being in above average health, he feared his options would all be expensive and have  high deductibles . So what ...