In today’s fast paced and ever changing world nothing is certain
except for the fact that life becomes very easy to live if you
happen to have money in your wallet. There is no certainty that
you will wake up tomorrow when you go to sleep today. However,
it is certain that the life of your family members surviving you
will be very comfortable tomorrow if you opt for life insurance
today.
Traditionally, life insurance was meant to ensure the financial
security of the family of an individual after the death of the
individual. The individual continues to pay the premium for the
insurance as long as he or she lives. Upon the death of the
individual, the family of the individual will receive the
benefits of the insurance policy. Today, life insurance policies
are no longer treated as instruments intended to secure
financial security after death. Today, it is recognized as an
effective financial tool for wealth creation.
Traditional life insurance is symbolized by term insurance. You
go on paying money and the benefits accrues to your family after
your death. The new outlook towards life insurance is
characterized by permanent insurance. Although there are death
benefits, those are not the only benefits. Permanent life
insurance enables you to create wealth and enjoy its fruits in
your lifetime itself. Insurance companies generate wealth by
investing the money deposited by the life insurance policyholder
after obtaining the permission of the policyholder. In such
instances, life insurance companies act as agents of a large
number of policyholders and invest money on their behalf. The
suitability of these two types of life insurance differs from
person to person and depends on individual factors.
Term insurance is cheaper while permanent insurance places a
heavier burden on your pocket. Term insurance is absolutely free
of risk while wealth creation may lead to wealth loss as well.
On the other hand, term insurance is of no use until the
unfortunate event of the death of the insured.
Each and every person opting for life insurance must ensure that
the cover on his or her life is sufficient. The last thing that
any person wants is for his or her survivors to suffer due to
insufficient benefits from the insurance cover. There is no
universally accepted formula to calculate the life insurance
cover that a person needs. It depends on the income of the
person, the debts that the person has incurred and upon the life
style that the person and the family are used to. If you have
incurred a lot of debts during you lifetime, you will require a
life insurance
cover that ensures that the burden of repayment of the debt does
not fall upon your survivors.
Preferred Health Resources is a hands-on medical
billing company that acts as an extension to a medical practice’s staff.
We found PHR has a number of advantages over other medical billing companies:
- Individual Account Executive
Each Client is assigned their own account executive. You deal with same representative
who is uniquely familiar with your practice. Also, each account rep
has a backup.
- No Recorded Voice prompts
All calls are answered personally. Does anyone want to go through the labyrinth
of touchtone choices, only to be left on hold, disconnected, or worse, left
with an unresolved billing inquiry. PHR never uses electronic voice prompts
during regular business hours. When a patient calls they speak directly with
an account representative. Questions are answered courteously, and all efforts
are made to expedite a settlement. Patient privacy and support are never
compromised.
- 24 Hour Claim Processing
When claims are received at PHR, they are processed within 24 hours.
A practice can use paper to submit receivables uisng the Palm/PDA electronic
billing application.
- Electronic Claims Submissions
PHR daily submits claims electronically to Medicare, Medicaid, BCBS and all
commercial carriers. Once received the data is checked by the account representative,
corrections if necessary are made, and then PHR submits the claims.
- Claims Follow-up
PHR aggressively follow-up on all claims. Account executive deal directly with carriers and patients, PHR has follow-up specialists that assist in calling patients to deal with outstanding balances. We dont get paid unless you get paid.
At Preferred Health Resources they realize there are back office expenses and
they look to reduce those costs. They offer Practice Management software so
a practice doesn’t have purchase this type of software. Preferred
Health Resources is all-inclusive. There are no additional fees or
charges. With a standard PC and have access to the Internet, a physician
can have the entire package, a total billing service which includes:
- Practice Management Software
A comprehensive PMS that meets the needs of most private and faculty practices.
- The Front Desk, Patient Demographics
First things first, get the patients’ basic information, and be able to
quickly retrieve it.
- Appointment Scheduler
Appointment scheduler is included. With this module enter the basic patient
demographics and schedule appointments. Need to change an appointment?
Look it up by appointment date, patient name, SSN, Date of Birth …
- Customized Patient Reports
Over 1200 customized statistical patient/record reports available.
- User Friendly Software
Using the PMS software is easy and user friendly. It takes just a
few hours of training
- Personal Staff Training
PHR trains the practice’s staff on-site or even a physician’s home.
- Palm/PDA Program
Unique Palm/PDA application for next day billing.
- Secure Internet Access
PHR has secure Internet Access to each account. The data and connection
are secure and protected by multiple firewalls.
- Demographics are shipped overnight on the PHR account
PHR services practices through out the United States.
- HIPAA Compliant
PHR complies with HIPAA privacy and security regulations.
Here’s the good news: with improvements in medical
technology and healthier lifestyles, people are living
longer. Life expectancy today has increased to 83 years, up
from 78 years in 1940 (The Shopper’s Guide to Long-term Care
Insurance from the National Association of Insurance
Commissioners).
However, the longer people live, the greater the chances
they will need assistance due to chronic health conditions.
Today, about 12.8 million Americans of all ages require some
type of long-term care (National Academy on Aging, 1997).
This number is expected to climb as the baby boomer
generation moves into retirement. Over a lifetime, nearly
50 percent of all people will require some type of long-term
care assistance.
One way to pay for some or all of your long-term care
expenses is insurance. First introduced in the 1980s,
long-term care insurance was originally designed as nursing
home insurance. Today’s long-term care policies now cover
much more. They include home health care, assisted living
facility care, adult day care, Alzheimer’s facility care,
respite care and hospice care.
So how does long-term care insurance work? Long-term care
insurance is not health insurance, and long-term care
expenses are not covered under private health insurance,
Medicare or Medicare supplement policies.
However, long-term care insurance is similar to health
insurance in that an individual must apply for coverage by
going through medical underwriting. The insurance company
decides whether to offer long-term care coverage based on
your current health conditions and age. In most instances,
a person’s medical records will be reviewed by the insurance
company. Additionally, some applicants may be required to
have a face-to-face or a telephone interview. Not everyone
is insurable. People who already have health problems are
likely to need long-term care but won’t be able to buy a
long-term care insurance policy. Your money may pay for
long-term care insurance coverage, but it’s your health that
buys it.
Once a long-term care policy is issued, the insured
individual becomes eligible to receive benefits once a
healthcare professional certifies the insured is
“chronically ill” — unable to perform two of the Activities
of Daily Living (ADLs) for a period of 90 days or longer; or
be severely cognitively impaired. ADLs include bathing,
eating, dressing, toileting, transferring (moving into or
out of a bed, chair or wheelchair) and continence.
“At what age should I apply for long-term care insurance?”
Generally, experts suggest you apply between ages 50 and 55.
The younger you are when you apply, the better the chance
you will be healthy enough to qualify. It’s also during
these years prior to retirement that your income is normally
at its highest and you’re better able to pay the insurance
premiums.
Long-term care insurance policies vary widely. A
professional specializing in long-term care insurance can be
a great resource to consumers in considering the many
options available today.
Brent Dees, president of Brent Dees Financial, is a small business coach and financial planner who teaches the Focus Four system. He helps business owners in the Carolinas set business and personal goals so they can work less and make more. Brent Dees Financial can be found on the web at http://www.brentdees.com.
Buying health coverage is very important for individuals - for covering not only their health, but also their medical bills. Even minor illnesses can result in exorbitant medical bills not to talk of serious illnesses where the costs can only be described as devastating. To keep the wolf away from the door and provide protection to yourself and your family, you can consider the option of buying individual health coverage plans. For this, you need to have a basic idea of health coverage works in the state of Texas. Depending on the plan you opt for, you will find that they pay for all or some part of your medical bills arising out of injury or sickness. The plans broadly fall under two categories: The Managed Care health plans, and the Fee-for-service health plans.
Managed care plans work through a network of doctors. This means that the plan will only pay if you visit a doctor or a hospital that is listed in the plan’s network. Yet there are plans, which allow you to visit a doctor of your choice, but they offer greater financial incentives if you visit a service provider or hospital listed in their network.
Fee for service plans work differently from the managed care plans in that they allow you to visit a doctor or hospital of your own choice. Also known as the indemnity plans, these plans are more expensive than the managed care plans.
Both plans have their pros and cons and you have to set your own priorities before zeroing on any of them. For example, your work may require a lot of traveling and in that case choosing the managed care plans would prove to be restrictive.
Apart from these plans, there is the Texas State Health Insurance Risk Program for people who cannot afford to buy individual plans.
Term Life Insurance provides detailed information about term life insurance, group term life insurance, and more. Term Life Insurance is affiliated with Dental Insurance Plan.
