The new healthcare reform bill will completely change how health insurance works in the United States by 2014. Here are just a few highlights:

• In 2014, not only will most adults be required to carry health insurance but insurance companies will not be allowed to decline coverage based on pre-existing conditions. While this could be viewed as a great change in the way health insurance works in this country, it is unknown how it will affect health insurance rates. By having the requirement that all citizens be covered, insurers have a better chance to spread the risk that they take on by approving all applicants, but it is unknown if this spread of the risk will be enough or if rates will need to increase substantially. Continue reading →

There are two major types of health insurance that consumers can choose from, a PPO plan or an HMO plan and you’ll run into both of these when you get your health insurance quotes. Today we are going to talk about the PPO plan.

PPO stands for Preferred Provider Organization. A PPO plan is an insurance policy that allows you to seek medical treatment from a designated provider who is a part of a network of providers and medical treatment facilities that was created by the insurer. Everyone within the network agrees to work for a certain price. If you have a coinsurance amount in the plan, then this agreement to work for a certain price can help you keep your out-of-pocket costs affordable.
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There are many different aspects of your health and habits that are taken into consideration when you have a health insurance policy underwritten. These factors work together to create the general risk that you life presents to the insurance company. It is not until all these factors are considered that your insurer can determine whether or not to issue your policy and what premiums to charge. Here are some of the main factors that health insurance underwriters consider when reviewing your health insurance application for approval.

Your medications: The medications you take give a tremendous insight not only on the prior events of your health history, but also on what your doctor thinks might be in the future. For instance, you might not have had a heart attack yet but if your doctor has you on a cholesterol medication, then it is likely that he or she thinks you may be at risk for one in the future. That indicates to a health insurance underwriter that you could be a risky bet.
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