Medical Loss Ratio – What is it and Why Might I Get a Refund Check?

There are a number of provisions in the Patient Protection and Affordable Care Act (PPACA) that was passed in 2010.

Now that the legislation has been mostly upheld by the Supreme Court, there is little to stop many of the provisions from the PPACA from coming to fruition.  From the inability of insurers to drop you due to illness, to the individual mandate for health care coverage, to the establishment of state exchanges, there are a number of highly publicized new policies in the bill.

However, there are also plenty of other provisions in the law, some of which you might not know about.

One of the lesser known provisions is the rebates that insurance companies will be required to send a rebate to customers if they do not keep overhead costs lower.

Some estimates suggest that as much as 30% of what we spend on health care goes to overhead — and not to health benefits.  This is rather distressing when the costs of health care in the United States are compared to other developed countries that, in many cases, more efficiently keep the overhead to 1/3 of what it is in the United States.

What is the Medical Loss Ratio?

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Renters Insurance Quotes – What You Need to Look For

Renter’s insurance may be the most underestimated of all insurance policies.

Many tenants assume that they don’t need renter’s insurance because any hazards will be covered by their landlord’s insurance—after all, they’re the ones who own the property, right?

Nope.

The landlord’s insurance will cover only what the landlord owns, and that will be limited to the land and the physical structures on it.  Anything inside the building that you own will be excluded by the landlord’s insurance company.

For that reason, you need to have renter’s insurance.

What You Need to Know Before You Get Renters Insurance Quotes

What do renter’s insurance plans usually cover?

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Term Life Insurance Versus Whole Life Insurance

Protective Hat

Life insurance, in general, is not a subject many people want to talk about.

After all, its more about death than it is about life.  But it is a necessary part of financial planning and a form of insurance many people should have!  The two main forms of life insurance are Term Life Insurance and Whole Life Insurance.

Let’s take a look at term life insurance versus whole life insurance:

Term Life Insurance

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Getting Health Insurance for a Small Business Owner

Health insurance is one of the biggest challenges for small business owners.

It’s a problem for anyone who isn’t in a government or employer sponsored plan, but small businesses have special concerns.

For small businesses, health insurance is complicated by the fact that there may be employees.  Do you just get coverage for yourself, or do you extend that coverage to your employees?

The answer is different for different businesses, but there are ways to work through the process to get the best plan to cover your specific needs.

Use an independent insurance broker

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What Insurance Policies Does Your Family Need?

Picking the appropriate level of insurance coverage for your family can be a confusing and overwhelming task.

Not only are there multiple insurance companies to choose from for the various insurance needs you have, but there are so many different types of insurance that it can be difficult to know where to start.

Critical Insurance Policies to Have For Your Family

There are five critical insurance policies every family should have.

Life Insurance

The most critical insurance policy for a family is life insurance coverage on both spouses or parents regardless if they are working or not.
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Should I Buy Travel Insurance for My Next Trip – Pros and Cons to Consider

Travel insurance is one of those upsell services you see tacked on to your flight and hotel reservations when you book through most online travel sites.

You stop and think about it for a minute, but it can be frustrating.

Is insuring your trip worth the price asked?  What are the odds you need to use travel insurance?  Do you really need this type of insurance or is the travel company just looking to pad their pockets with your hard earned cash?

As is the case with most insurance questions, the answer to whether or not you need trip insurance is maybe.

Here are some pros and cons to consider.

Pros of Buying Travel Insurance

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Save Money by Bundling Insurance Policies

Handwritten Insurance Claim Form with pen and calculator

How many insurance companies do you have?

Not just insurance policies, but how many insurance companies are you juggling?

If you are working with multiple insurance firms you might be missing out on significant savings that you can get by bundling your insurance policies.

Most Americans have several lines of insurance to cover various aspects of their lives: car insurance, homeowners or renters insurance, and life insurance are some of the most common policies.  Price shopping is common by consumers and often the lowest bid company wins.

But is that the best strategy?

How Does Bundling Insurance Policies Save Money?

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