Buying Your Health Insurance Online

Health Insurance has been recognized in the market as one of the necessities in life since you wouldn’t know a tragedy or disaster strikes. Even the government has realized its worth that both private and public companies have been mandated to offer health insurance as one of the benefits to its employees. From the busy streets of Manhattan, New York to the traffic-congested business hub in Jakarta, Indonesia, all of these companies give out health insurance. And of course, there are private insurance if you want to get your own.

In today’s advancement, getting your own private insurance can be easier than it used to be. With the development of technology, you can easily access your internet and purchase your own private insurance online.

With a single click, a few moments of filling up the pertinent online documentation, different processes of health insurance are being developed by companies. Axis Capital, with a group of insurance and reinsurance companies from its main location in Bermuda to its sub companies in Singapore, Australia, and United Kingdom and on more than ten states in the United States, is not the only one who had set up websites for ease of use for its clients. Creating online services is a great advantage to insurance companies who have clients all over the globe. It is also used to update customers on the whereabouts of their partnership.

Clients would have to be aware of how to shop for an online insurance policy. Here’s how:

  1. Assess you Needs

Purchasing health insurance is a financial commitment that can mean paying for more than you need or paying more for what you need if you do not select appropriate coverage. Review your thoughts and ask yourself the following:

  • How long will you need the coverage?
  • How will you use it?
  • Do you need to use it often?
  • Do you have any surgical needs?
  • What medications do you take?
  • Do you anticipate any medical change?
  • Do you have any hereditary traits which can risk developing in your life?
  1. Know your Budget

Paying premiums may hurt your budgeting. Are you able to afford it? Consider premiums, copays, coinsurance, prescriptions, over-the-counter drugs and services which may not be able to be included in your policy. Knowing how much you spend can help you compare and look around when you are shopping online.

  1. Look at network providers

Take the top plans you are considering and examine their provider lists. Will you have in-network access to the doctors, specialists, clinics and hospitals you prefer or that are most convenient for you? You have to review the information provided more to know if you are dealing with a legitimate company. Many fraudulent websites are also expanding their business in insurance online. You may encounter some of them when shopping and comparing.

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Uninsurance

In 2010, about ten million citizens in America have lived without any insurance for a whole year. In other developing nations where surviving the day is more important than ensuring for what the possible things to happen, it would be difficult to compute. Cambodia has reported that more than half of their citizens do not even know what health insurance is. Jakarta, Indonesia is reported to have sold more car insurances in the past years than health ones.

For many of these people, the consequences of living day to day are in dire disadvantages.

According to the studies submitted to Axis Capital and distributed to its insurance and reinsurance companies from its main location in Bermuda to Singapore, Australia, United Kingdom and to over ten states around the United States of America, more and more citizens had dropped their policies. More than four million adolescents are medically uninsured. Their age estimate would be between 10-18 years old. In reviews, partners do not think it would be needed while their kids are young. Uninsured rates are higher among the poor and near poor, racial and ethnical minority and noncitizens than among young adults with obvious reasons. Others think they have existing insurance but turned out to be engaged in a scam instead.

Having health insurance does not ensure adolescents’ access to affordable, high-quality services given problems associated with high out-of-pocket cost-sharing requirements, limitations in benefit packages, and low provider reimbursement levels. For example, the current system for financing health insurance coverage leads to underinvestment in disease prevention and treatment in some areas that are particularly problematic for adolescents.

The following are the possible consequences for not taking any insurance:

1. Reduced Access to Timely and Quality Care

• Uninsured adults and children are less likely to receive preventive care, including regular checkups, diagnostic screenings and tests and prenatal care for pregnant women.

• Uninsured children are less likely than insured children to receive medical attention for common childhood illnesses or injuries.

• Uninsured persons are less likely to have a regular source of care and more likely to seek care in clinic or emergency room, compared to the insured.

2. Premature Mortality

• Uninsured individuals are often sicker than insured patients when seeking care.

• Life-threatening diseases are more likely to be diagnosed in late stages for uninsured patients, reducing the likelihood of full recovery.

• Newborns of uninsured mothers have a greater risk of adverse health outcomes at birth, including death.

3. Personal & Family Financial Strain

• Without coverage, uninsured patients often face significantly higher charges for care than the insured.

• High rates of personal bankruptcy result from lack of insurance coverage for significant medical expenses.

• Uninsured employees are more likely to experience greater annual income losses, reduced labor force participation and diminished job productivity due to untreated illnesses and conditions.

Travelling Health Insurance

Travelling or working abroad is a wonderful experience which everyone should have at one point in their lives and while accidents may happen, proper preparation can prevent them from causing an undue medical, unending complaints or financial burden. By ensuring you are properly covered by travel or international health insurance you can spend more time enjoying your life and travels and less time worried about the costs of unexpected accidents and illnesses.

Axis Capital, with a group of insurance and reinsurance companies based in Bermuda and have branches in more than ten states in the US, Europe, Australia and Singapore is offering a travelling health insurance which can help you whether you are an expatriate or a traveler. Accidents happen even in the face of safety plans and precautions, and as a foreigner, getting medical attention can come at a high cost. You’ll be lucky to get proper care and insurance coverage in cities like Bangkok, Thailand, Jakarta, Indonesia or Kuala Lumpur, Malaysia when the policies there are reportedly too lose.

Most people who plan ahead opt for some kind of medical insurance. Depending on the length of time abroad, some people choose a travel health insurance plan, one that is designed specifically for travel, and some choose an international health insurance plan, one that is designed specifically for extended periods of stay.

Moving on to international health insurance, this option is generally selected by expatriates, or travelers who are on the road for longer than a year. International health insurance has many benefits and is highly customizable in both coverage and price.

International health insurance can ensure that you are able to receive medical attention all over the world. Whether you are in London or in Tokyo, you are covered for any medical needs that may arise. In addition, if you wish to travel elsewhere to receive your treatment, all it takes is booking a ticket. Make sure to review your options, though, to insure your travel.

With medical policies with international reach, you can often opt to have specific countries or regions excluded from the areas of coverage. This may drastically reduce the cost of your premium because international health plans take into account your coverage area while calculating the premium amount. Areas like the United States have some of the highest costs of health care in the world, thus making your premiums higher as well. In addition to excluding specific countries, you can opt for having a deductible or co-insurance.

Fighting Back Insurance Scams

slam-the-scam copyHealth insurance is a trend nowadays. Axis Capital Group, insurance and reinsurance company based in Bermuda and has branches in Australia, Europe, America and Singapore has been in the business for too long that we can now tell when we have a lot of competition around us. We are not threatened by that, of course. What we fear most is the emerging business of fraudulent agents and illegal scams by illegitimate insurance companies. To lessen the risk involved in this industry, we implore our partners and clients to also be meticulous in choosing your insurance providers. Here are some tips that you might find useful:

1. Back off and go slow.

Avoid signing up if you’re pressured to buy quickly—no matter how good the deal seems. Know what you’re buying before signing up.
Don’t give your credit card and bank account number to a telemarketer or Internet site of an unfamiliar health plan.

2. Read the policy.

Insist on receiving a complete insurance policy before signing up. Read it line by line, review it again or have a qualified expert read it. Does the policy deliver what the sales pitch promises?
Never rely solely on marketing literature and don’t believe a telemarketer who promises you have “full health coverage.” It may be empty promises.

3. Is the plan licensed?

Call your state insurance department to make sure the plan is licensed in your state. Does the plan also have a history of complaints?
Some dishonest plans are licensed, but lie about what they’re selling. They promise full health coverage. However, you receive a nearly useless limited policy that’s loaded with limits and exclusions or you receive a medical discount card, which is NOT insurance.

4. Check out the “association” or “union.”

If you’re required to join, check out that group’s website. Does it list a street address or merely a P.O. box in some unreadable place in Jakarta, Indonesia or South Africa?
Is the website suspiciously brief and vague about its activities? Does it seem designed mostly to hype health coverage as the primary product?

5. Contact the insurer.

Some health plans lie that they offer coverage through a legitimate, well-known insurance company. Contact the company to verify. If it is not that of a hassle, you can also visit their stated physical address.

6. Contact your insurance department.

If you think you’re dealing with a crooked health plan, contact your state insurance department immediately.

Provide as much specific documentation as possible to help the department investigate the plan. You can also put a warning out in case they might be victimizing other people as well.