Prasant Mohanty’s Post

Great article.  One of the small things about overuse of medical care: there is a difference between overuse in one particular area of concern and just using all the medical care, all the time. When you use your own money, you might be happy to direct it to one or two areas of particular concern. But when it's someone else's money, you're going to request all the imaging, all the tests, all the PT, and be furious at the company for denying care in the one area you really care about! HSAs solve that problem nicely: pay for what matters to YOU.

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Here's a great post form Ge Bai. She is exactly right. One of the main drivers in premium increases has been the blurring of the line between "Health Insurance" to Healthcare financing. Insurance involves risk by definition. The changes by the ACA and other recent legislation have removed the ability to assess and adjust for risk, instead moving towards programs that simply pay for care with little or no risk assessment or mitigation possible. The result, pricing for the worst scenario for anyone and everyone. It's like buying auto insurance, everyone is a "high risk" driver. Oh and oil changes, new tires, and car washes are covered too.

Why You Shouldn’t Buy health insurance plans for family Including Parents? Purchasing a health insurance plans for family is very important to prevent the family from being financially drained when health issues arise. Yet, insisting that your parents be covered by the same health insurance policy as your immediate family may not be the right course of action. The following are some common and valid arguments that you may wish to think twice before deciding on this matter. #HealthInsurance #FamilyHealthInsurance #HealthCoverage #HealthCarePlans #FamilyCoverage #InsurancePlans #HealthProtection #FamilyProtection #HealthBenefits #FamilyBenefits #HealthSecurity #FamilySecurity #HealthWellness #FamilyWellness #HealthcareSolutions https://lnkd.in/etBWvTua

Our latest consumer survey showed that over 70% of people have never switched health insurance. Even though three in four people review their policy when it is up for renewal each year, 71% have never switched from their provider and almost 70% have no plans to change their cover when their renewal is due. If you don't shop around, you may be overpaying. Many newer health insurance policies are better value and have more cover for day-to-day expenses like GP visits and physiotherapy. Before you renew, consider what cover you really need and use the free comparison tool on our website to compare all policies on the market. https://lnkd.in/enaKvNcv #healthinsurance #health

Here's a great post from Ge Bai. She is exactly right. One of the main drivers in premium increases has been the blurring of the line between "Health Insurance" to Healthcare financing. Insurance involves risk by definition. The changes by the ACA and other recent legislation have removed the ability to assess and adjust for risk, instead moving towards programs that simply pay for care with little or no risk assessment or mitigation possible. The result, pricing for the worst scenario for anyone and everyone. It's like buying auto insurance, everyone is a "high risk" driver. Oh and oil changes, new tires, and car washes are covered too.

The U.S. is the only country in the world that requires "unlimited benefits" in health plans --- this has resulted in an abundance of waste, fraud, abuse --- and skyrocketing costs. Doesn't help that the people who advise employers on which plans to buy (benefits brokers) financially benefit from this waste, fraud, and abuse. This is why ERISA law prohibits employers from using brokers for consulting and procurement services. Brokers get paid on both sides of the transaction, and this creates a massive conflict of interest within an employer's top three expenses. As a result, brokers put #HR and #Finance professionals (fiduciaries) at legal risk. If you'd like to understand how to get around this mess so that you can take care of your people and your business, send me a DM.

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Benefits of choosing the right medical insurance policy Due to our lifestyles and working conditions health issues are prominent these days. Health issues do not wait to strike till your old age. Especially after COVID even the younger generation is facing health issues frequently so they need treatments that require Hospitalisation which can cause a big dent in savings. Health insurance comes in handy in such situations, and health insurance policies are gaining popularity day by day. Especially health insurance at an early age can provide you with high coverage. There are many benefits to have an insurance in early age : 🔹 Will get a comprehensive health insurance cover at an affordable price. 🔹Most health insurance policies have waiting periods for specific treatments. 🔹Offers you financial safety.   #healthinsurance #medicalinsurance #healthcoverage #insurance #financialsecurity #financialplanning