Yes it’s true, starting next year rebate checks will be in the mail. Federal regulations issued on Nov. 22 2010 called the “Affordable care act” required health insurance companies to prove that they spent at least 80% of their collected dollars on medical care and improvement efforts.These regulations force the health insurance marketplace to become more accountable and require that they spend more of their dollars on higher end care. This means that Americans are going to get a better value for all of their hard earned money spent on health care insurance.Basically what these companies are doing with a large part of our consumer dollars is spending it on marketing, exec salaries, overhead and essentially just putting it their pocket. With the Affordable Care Act insurance companies will be required to spend 80 to 85% on actual medical care and quality health care improvement, instead of “administrative costs.”If they fail to comply, these insurance companies will have to provide a rebate check starting in 2012. These new rules will protect millions of Americans and some estimates are projecting that almost 9 million Americans will be eligible for rebate checks in 2012 with a value of almost 1.4 million dollars. The average rebate check will be around $164.This federal regulation is requiring that insurance companies must publicly report how much they are spending on premium medical care, which is great information for all those consumers left in the dark for all these years. After years of input from the different states, public and stakeholders the decision has been made to make health insurance more of a fair process for consumers.This act also requires the (NAIC) National Association of Insurance Commissioners to create uniform procedures and policies in calculating their medical loss ratio’s, which is essentially how much is spent where and what part is being spent on quality medical care for the consumer and if it’s not 80-85% the insurance companies will have to issue a rebate check for the difference.Insurance companies in every state will now be responsible and held financially accountable in protecting the interests of the general public, policy holders and enrolled participants in their respective states.It’s outrageous that in some markets insurance companies spend as little as 60% on direct medical care and health care improvement. As much as 40 cents out of every dollar goes to the “administrative costs” of the health care insurance provider. So where does all this money really go you may wonder?Timothy Jost who is a law professor at Washington and Lee University in VA says he estimates that these insurance companies spend 12% of every dollar that they get on pharmaceuticals and 31% for doctor’s care, and 31% on administrative costs.Hopefully this new regulation will force insurance companies to become more efficient and not raise premiums more than absolutely necessary and if they do then 80-85% of every dollar needs to be on actual care and not into the endless coffers of the insurance companies.
Once you have decided to pack your bags and move to another country, you need to be fully aware of the ramifications of your decision. One of the first things you need to prepare for is health care, aside from the other aspects of your life that would be changed with this life altering decision.One of the most magical countries to immigrate to is Spain. The country is located on the Iberian Peninsula located between the Mediterranean Sea and the Atlantic Ocean. Aside from the landmass in Europe, Spain also governs two autonomous cities in North Africa. The country shares borders with Andorra, France, Portugal, Morocco and Gibraltar.One of the country’s biggest expenditures goes into the system of healthcare in Spain. The system is a public parallel health care institution working together with a network of private health insurance providers. This system is availed of by over 90% of the Spanish population. If you are a citizen from a European Union state, you can avail of free medical and hospital care after presentation of your European Health Card. You can also avail of this free care with house calls. Once a specialist is needed for your medical concerns, you can then be referred to one and be issued a medical certificate.As can be seen, the European Health Card allows a tourist or an expatriate to avail of the medical services that a Spanish citizen can receive. You can obtain these cards from healthcare organizations from your country of origin. The main problem though with the system of healthcare in Spain is that private hospitals and doctors do not accept the EHC. Once you are attended to by a private doctor or admitted to a private hospital, you either must have money to fork over or have adequate medical insurance coverage for your condition.In order to be better prepared for the system of healthcare in Spain, you need to fill out form E112 as this allows for specific treatment to be done to you while in the country. You also need proper authorizations from your local institutions to be able to avail of the same or similar medical services. Should you forget your EHC card, be prepared to pay for your medication and hospital bills on your own and then seek reimbursements from your health care organization.If you are a national of a non-European Union country, then you need to be properly apprised of the costs you would face should you need to go into healthcare in Spain. There are countries that Spain provides reciprocal medical benefits, such as Liechtenstein, Iceland, Norway and Switzerland. There are those with bilateral agreements with Spain, such as Peru, Paraguay, Ecuador, Chile, Brazil and Andorra. What you need to do when in Spain is provide the proper health certifications to avail of the free hospitalization and medical care during emergencies or accidents.Overall, the system of healthcare in Spain is very good as the hospitals are modern and well-equipped. The doctors and specialists are excellently trained. The Expat Forum though provides advice such as “Just make sure that it is available in the specific area of Spain that you intend to live in.”
It requires an uncompromising approach to maintain a perfect state of health. It is definitely in our own hands to live a prosperous and healthy life. We cannot blame others for any failures made on our part in the first place. This seems to be the case when most of us fall sick and find ourselves too weak to handle the situation effectively. Private health care insurance is meant to provide you with all the necessary medical health facilities, whenever required. You would not have to think about medical expenses at all. You are certainly in a better position to deal with the situation than those who do not have an insurance plan. This underlines the importance of investing in a good insurance plan. It becomes essentially important to buy a plan which can provide long-term benefits.There are number of private health care insurance companies in the market. Each insurance plan has one or the other advantage attached to it. We make a huge mistake by looking to buy a cheap insurance plan. You should not buy any such plan which provides minimum return on the investment. There is no point in doing so because it would cost you more in the end. This is the most important part of the discussion. You should buy a health care insurance depending on the personal needs. It should not be influenced by any other factors. You have a responsibility towards your health first and everything else comes afterwards. The best way to find a good insurance plan is to contact the sales team of different insurance agencies and ask for further assistance on the matter. This would help you to gather significant information in the end. You should understand that insurance is neither cheap nor expensive in nature.Every private health care company is looking to attract more people by means of offering quality products and services. These units are making some serious efforts to reach to the audience in order to make its presence felt all across the country. This is the time when you can expect things to work in your favor. You can easily ask for an extra discount or another feature to be added in the package. There has been positive changes made in the last five or six years in the insurance sector. People have become more conscious and aware of their health nowadays. Nobody would like to suffer in the future due to bad choices made today. You should start searching for an insurance plan right now.People find it convenient to buy a private health care plan. It saves time and money in the long run. You can fix an appointment with a specialist any time or any day. There is no need to stand in a long queue or wait for your turn for hours. These are the additional benefits of buying a good insurance plan. When we sit down and take different aspects into account, it becomes evidently clear that private insurance plans have more to offer. We need to decide it for ourselves now.