An Overview of Employee Health Insurance Plans

There are many reasons why people choose to work for an employer. Issues such as interesting work, flexible yours, a family friendly environment, and salary are typical reasons why some employers can attract better employees than their competitors. Perhaps the most important facet of keeping and retaining the best employees is to offer comprehensive and affordable employee health insurance plans. The cost of health care has been skyrocketing in recent years which has pushed premiums for health insurance through the roof. Large companies can negotiate with insurance providers to obtain the most cost effective plans for their employees, and employees can obtain insurance at a rate far below what they would be able to find if not a member of their employer's group benefits plan.

The traditional employee health insurance plan is a so called preferred provider plan (PPO). PPO plans offer a great deal of flexibility in terms of care providers. PPO plans allow policy holder to be in control of their health care and choose their own primary care physicians and specialists. Unfortunately, PPO plans are almost entirely consumer based, which means that the PPO providers are not under tight price controls.

Health management organization (HMO) plans have become increasingly popular in recent years. HMO health insurance plans typically offer lower premiums and deductibles than PPO plans, but that lower price comes with a tradeoff. With HMO plans, you have much less flexibility to choose your own care providers.

A new trend in employee health insurance plans is the so called health savings account. Health savings accounts place much more of the burden on employees, who must pay for all of their medical care through a special savings account that both they and their employer contribute to. Health savings accounts have come under fire as methods to let employers skimp on health coverage for employees. Nevertheless, more and more companies are going with such plans.

8 Easy Routes to Cheaper Car Insurance

Car insurance is one of the most expensive costs involved in driving a car, and it's not something you can avoid - a minimum level of insurance is required by law. That doesn't mean you have to blindly pay whatever your insurer quotes though, as there are several simple things you can do to reduce the cost of your premiums.

1) Shop around and buy online: Figures show that many people simply renew their current policies without shopping around. The internet makes it easy to compare prices from different insurers, so why not take advantage of this? Plus, you'll usually get a discount of 10% or more just for buying your policy online.

2) Policy type: do you really need a comprehensive policy with all the extras? Going for a third party fire & theft policy can reduce your premiums hugely, and is definitely worth considering if your car isn't an expensive model.

3) No claims discounts: Nearly all policies feature a discount that increases for every year you don't make a claim. The higher the discount available, the more you could save. Also look at insurers offering a 'no claims bonus for life' feature, where your current discount level can be fixed forever, even if you have to make a claim somewhere down the line.

4) Excess: The excess on a policy is the amount of a claim you have to pay before the insurer pays the rest. Choosing to have a higher than standard excess level will usually mean lower premiums.

5) Security: Fitting your vehicle with an alarm, immobiliser, or other security devices can lead to premium reductions. Parking you car off-road, for example on a driveway or in a garage, will also mean a cheaper policy.

6) Pay annually: Many insurers charge you interest for the privilege of paying in monthly installments. Pay annually if you can afford it to avoid this, or look for one of the companies who don't charge extra for monthly payment.

7) Mileage: The more mileage you run up every year, the more your insurance will cost. Even if you can't reduce your mileage, make sure you're not overestimating how much you actually do drive, and give your insurer an accurate figure.

8) Drivers: The more drivers you have on your policy, the more it will cost. Reduce the number of people insured to drive your car to the minimum possible, and try to get the policy in the name of a driver with the lowest risk profile. For example, if a car is driven by both a man and a woman, insuring it in the woman's name will often result in a cheaper quote.

About the Author: Nicholas Hunt is a contributing writer for http://www.1stop-finance.co.uk/ where you can browse car insurance reviews at http://www.1stop-finance.co.uk/insurance/car_insurance/

Know your Insurance Adjuster

"Insurance adjuster" is a term that we encounter quite a bit when shopping for insurance policies, but what exactly is an insurance adjuster? Insurance adjusters are agents who are either employed by insurance companies or work as independent agents who serve as a liaison between the insurance company and the claimant after a loss or even that potentially requires the insurance company to pay a claim.

When a catastrophic home or property loss occurs, the insurance adjuster is the one who examines the damage, interviews eye witnesses, and generally tries to provide a complete picture of how the damage occurred. In the case of fire or other potentially suspicious types of damage, the insurance adjuster will also speak with police and fire officials to determine the cause of the blaze. Once the details of the event have been worked out, the insurance adjuster will carefully go over the home owner's policy and determine to what extent the insurance company is required to cover. The insurance adjuster then files the claim with the insurance company where it will undergo verification and, if everything checks out, a payment will be issued to the policy holder.

For health care coverage, the insurance adjuster (also called the claims examiner when dealing with medical issues) carefully reviews all aspects of the claim and makes a determination on the extent of the insurance company's liability. Extremely large claims are typically handled by senior insurance adjusters.

Insurance adjusters provide a layer of buffering between the policy holder and the complexities of filing a claim. Since the time directly following a serious loss or health emergency is typically stressful enough on its own, the policy holder typically welcomes the adjuster's handling of the complex details of filing a claim. Since insurance adjusters are very familiar with the way the policy is structured, they are more likely to file an accurate claim request and get the money in the policy holder's hands as quickly as possible.

The Importance of Purchasing Flood Insurance

As was painfully made evident by the destruction caused by Hurricane Katrina, damage caused by flooding is not a standard part of homeowner insurance plans. Therefore, many of the homes that were destroyed in New Orleans were not covered for flood damage. Any home owner who lives in or near an area that is prone to flooding should purchase flood insurance. Additionally, since flash floods can occur almost anywhere, even those who are not in traditionally flood prone areas can purchase flood insurance as an extra bit of protection against flash floods.

Many people are simply not aware of the vast, sweeping scale of the damage that can be caused by floods. Floods are not isolated like tornados or fires--rather, floods can wipe away entire communities in a single deluge. This is the reason that insurance providers to not offer flood insurance as part of the standard policy. Floods are so widely damaging that they could quickly bankrupt the insurer if flood insurance were included as a part of their standard home insurance package.

Flood insurance is required for homes that are in federally designated high flood risk areas. Lenders are required to ensure that home owners purchase and sustain continuous flood insurance coverage. This is in part in response to the enormous financial losses that were caused by flooding of the Mississippi River region several times in the last few decades.

It is vitally important that all homes that are even moderately susceptible to flooding be covered by some form of flood insurance. The damage from flooding can be overwhelming and families who lose their homes and all their possessions to floods can be financially (as well as emotionally) ruined. Fortunately, the government has passed laws requiring flood insurance for high risk areas, but those located in areas less prone to flood damage should also consider purchasing flood insurance.

8 Easy Tips for Cheaper Home Insurance

No one likes paying for home insurance, but it's a necessary evil for most of us. This doesn't mean you have to pay through the nose for it though - try these 8 easy tips for cheaper home insurance and see how much you could reduce your premiums by.

- Shop Around

By comparing prices from several insurance companies, you'll probably be able to reduce your premiums by a substantial amount. This may seem obvious, but research has shown that a surprisingly large proportion of people either just renew their current policy, or get only one or two quotes. Many insurance web sites will automatically compare dozens of policies for you, making this one of the easiest ways to reduce your insurance bill.

- Buy online

If you buy your policy online you can often get a discount of up to 20% on normal prices, because there are less administration costs involved and the savings can be passed on to you.

- Combine your buildings and contents policies

Many insurers will give you a discount if you take out both types of home insurance with them, and this usually works out cheaper than getting the two kinds of policies from different companies.

- Pay upfront

Although most insurers let you pay your premium in monthly instalments, many will charge interest for this. If you can afford to pay a full year's premium in advance, then this will work out cheaper in the long run.

- Don't claim for small amounts

Making many small claims can increase your insurance costs, as your insurer may see you as a greater risk and increase your premiums. You will also lose any no claims discount your policy has. Of course, you're entitled to claim for anything your policy covers, but ask yourself if making a small claim is really worth the hassle and possible future costs.

- Voluntary excess

This is related to the last point. Insurance policies feature something known as 'excess', which basically means that the policy won't pay out on claims below a certain value. On some policies, if you choose to raise your excess to a higher level, then your premiums will be lower.

- Increase your home security

Beefing up your home security with better door locks, window locks, outdoor lighting, and alarm systems can all result in lower premiums. Ask your insurer what you could do to get extra discounts.

- Reduce your cover

Many policies feature benefits that you might not need, such as cover for personal possessions while travelling, or 'free' legal advice. Look through your policy and see what parts of it you really need - by cutting your cover down to size you may be able to reduce your premium.

About the Author: Nicholas Hunt is a financial writer for http://www.1stop-finance.co.uk/ - you can find a more detailed version of this article at http://www.1stop-finance.co.uk/insurance/cheaper_home_insurance.html

Article Source: www.articlepillar.com

The Truth about Renter's Insurance

Many renters mistakenly assume that they do not need renter's insurance, only to find out the truth when it is too late. Many of them are under the assumption that their landlord's policy will cover them or that the landlord, and not they, would be liable if someone were to be injured while in the rental property. The sad truth is that renters have very few rights in the majority of states, and renters should never assume that their belongings are covered in the event of a disaster or that they have no liability for injury just because it is not their property.

In most states, if someone is injured or if they incur damage to their property while within a rented dwelling, it is in fact the renter, not the property owner or landlord, who is liable for damages. For example, if you have a guest in your rented property and the guest manages to fall or otherwise injure themselves, you may be surprised to find that you, the renter, are liable for the damage. Likewise, if the guest damages some of his or her property in an accident in your rented dwelling, the renter is responsible for the damage to the item. Renter's insurance provides protection against liability in cases of personal injury or personal property damage that occurs in a rented dwelling.

In the case of fire, flood, theft, or other natural disaster, a renter's property is not protected by the insurance coverage that the landlord or property owner carries. Many renters are surprised to find that, after a disaster, they have no recourse to recoup damages caused to their belongings. The only way to have some level of protection is to purchase renter's insurance.

Clearly, anyone who rents a property should have renter's insurance protection. Renter's insurance is quite affordable, and the peace of mind that it offers is well worth the relatively small premiums.

Purchasing an Annuity

As a financial investment product, the annuity product offers the investor a flexible financial retirement plan with a guaranteed lifetime income, insurance benefits, and tax-deferred savings.

An annuity is a contract between the insurance company and the insured where the insurance company agrees to pay a stipulated amount to the insured beginning at a time specified by the insured. The buyer of the annuity pays either a single premium or installments to the insurance company which invests the money.

Annuities are designed with a broad range of features that are designed to provide long-term income. Similar to retirement accounts, an annuity offers the benefit of tax deferred interest. The difference between an annuity and regular retirement accounts is that the principal invested into the annuity has already been taxed, and therefore is not taxed at the time the money is withdrawn.

Traditional retirement accounts impose limits on the amount of money that may be invested during the year. There is no limit to the amount of money that you can deposit into an annuity account.

When considering the purchase of an annuity, make sure you are structuring the annuity to your best advantage. Carefully determine your goals for the annuity and ask yourself the following questions before you purchase an annuity.

How old are you?

The annuity is designed to provide you with lifetime income once you retire. Your age will determine how long you will have to invest into the annuity. The longer you can invest, the more income you will have once you begin to receive income from the annuity.

Take into consideration that people are retiring at an earlier age. Try to determine when you will retire and then try to calculate how long you will spend in retirement. Most people will be living at least 25 years in retirement.

Your goal, then, is to invest enough money into the annuity to provide you with at least 25 years or more of income.

How much can you invest into your annuity?

A flexible annuity is an annuity which permits installment payments over a period of time. A single premium annuity is purchased with a single deposit.

Your investment into the annuity will determine how much you will earn over the life of the annuity. Is this your only retirement vehicle or are you planning to use the annuity to bridge the gap from another retirement plan?

What is the interest rate?

The higher the interest rates being paid on your investment, the better the return on your annuity. Check with various companies to make sure you are getting the best rate. Many companies will offer a higher first year interest rate as an incentive to purchase.

What expenses will be incurred?

The insurance company will charge various administrative costs against your annuity contract. Each company will have their own fee structure, so it is important to investigate what the fees are. The lower the fees, the more your investment grows.

Surrender fees may be charged if you withdraw from the annuity within the first few years of your contract. Make sure you have a full understanding of these charges.

Is the insurance company stable?

This is your retirement. Choose wisely the company in which you wish to purchase your annuity from. Is the company financially strong? What is the rating of the company? Do they have a good reputation? This company has guaranteed you a retirement income; make sure that they will be there when you retire.

Purchasing an annuity as part of your retirement plan is an active approach to your financial security. Study the various types of annuities and choose the one that falls in line with your retirement goals. Always comparison shop for the best annuity with a strong company

The Challenges of Finding the Best Self Employed Health Insurance for You

Health insurance is not cheap, and with premiums continuing to skyrocket alongside the price of health care, the outlook is not bright. For the self employed, the issue of health insurance is one that hits right in the wallet. Since self employed individuals are unable to qualify for group discounts offered to large companies, then the cost of self employed health insurance becomes of foremost concern. Deciding on what type of self employed health insurance to choose depends a great deal on the current state of your business and how you expect it to grow in the next few years.

If your business is run solely by yourself (i.e. no partners or employees) then you are certainly in the toughest self employed insurance situation. That is because the most expensive insurance rates occur for policies that are granted to only a single person. There are two reasons for this. First of all, small groups or individuals are not able to collectively bargain with the insurance agency. Insurance agencies are more likely to offer favorable rates to those who are willing to bring in many policy holders at once. Another reason is that the more people who are insured by a single policy, the more the risk is spread amongst all policy holders. This lowers the risk for the insurance agency and allows them to offer more favorable rates for coverage.

If you expect your company to grow in the near future to include employees or partners, it is probably a good idea to consider purchasing temporary health insurance. Temporary policies are not as robust as permanent coverage, but they can get you through until the time comes that you can qualify for a group discount.

Fortunately, Congress has noted the plight of self employed individuals. Now, most of the costs of self employed health insurance are tax deductible, and other legislation is pending that should ease the burden further.

Employee Health Insurance Plans

There are many reasons why people choose to work for an employer. Issues such as interesting work, flexible yours, a family friendly environment, and salary are typical reasons why some employers can attract better employees than their competitors. Perhaps the most important facet of keeping and retaining the best employees is to offer comprehensive and affordable employee health insurance plans. The cost of health care has been skyrocketing in recent years which has pushed premiums for health insurance through the roof. Large companies can negotiate with insurance providers to obtain the most cost effective plans for their employees, and employees can obtain insurance at a rate far below what they would be able to find if not a member of their employer's group benefits plan.

The traditional employee health insurance plan is a so called preferred provider plan (PPO). PPO plans offer a great deal of flexibility in terms of care providers. PPO plans allow policy holder to be in control of their health care and choose their own primary care physicians and specialists. Unfortunately, PPO plans are almost entirely consumer based, which means that the PPO providers are not under tight price controls.

Health management organization (HMO) plans have become increasingly popular in recent years. HMO health insurance plans typically offer lower premiums and deductibles than PPO plans, but that lower price comes with a tradeoff. With HMO plans, you have much less flexibility to choose your own care providers.

A new trend in employee health insurance plans is the so called health savings account. Health savings accounts place much more of the burden on employees, who must pay for all of their medical care through a special savings account that both they and their employer contribute to. Health savings accounts have come under fire as methods to let employers skimp on health coverage for employees. Nevertheless, more and more companies are going with such plans.

The Truth about Renter's Insurance

Many renters mistakenly assume that they do not need renter's insurance, only to find out the truth when it is too late. Many of them are under the assumption that their landlord's policy will cover them or that the landlord, and not they, would be liable if someone were to be injured while in the rental property. The sad truth is that renters have very few rights in the majority of states, and renters should never assume that their belongings are covered in the event of a disaster or that they have no liability for injury just because it is not their property.

In most states, if someone is injured or if they incur damage to their property while within a rented dwelling, it is in fact the renter, not the property owner or landlord, who is liable for damages. For example, if you have a guest in your rented property and the guest manages to fall or otherwise injure themselves, you may be surprised to find that you, the renter, are liable for the damage. Likewise, if the guest damages some of his or her property in an accident in your rented dwelling, the renter is responsible for the damage to the item. Renter's insurance provides protection against liability in cases of personal injury or personal property damage that occurs in a rented dwelling.

In the case of fire, flood, theft, or other natural disaster, a renter's property is not protected by the insurance coverage that the landlord or property owner carries. Many renters are surprised to find that, after a disaster, they have no recourse to recoup damages caused to their belongings. The only way to have some level of protection is to purchase renter's insurance.

Clearly, anyone who rents a property should have renter's insurance protection. Renter's insurance is quite affordable, and the peace of mind that it offers is well worth the relatively small premiums.