We all know that health insurance covers the typical trips to the doctor. But what other benefits are we starting to see through starting a policy? Some of these trends just might surprise you. Fox Business published an article yesterday on this very topic.
Procedures such as reconstructive surgeries (for injuries or genetic conditions), therapies ordered by a medical professional, and weight loss surgeries can be available through certain companies. Whether you are looking at health insurance for your family or your employees of your small business, take a look at some of the lesser known benefits included in some (but not all) health insurance policies.
Check out the article here:
John is our agent currently licensed in health insurance. Stop into the office to review your coverage or apply for a health insurance policy.
Previously, we have featured a home buying checklist and tips for auto claims. Here is a great checklist to fill out at the scene of an accident. Although we hope it will not have to be used, it is best to know that you have all bases covered from the beginning. Feel free to print this form from Foremost and place it in your car just in case.
What is one factor that can increase premiums? Fraud. It is estimated that fraudulent claims contribute to ten percent of losses each year. That means that loss can transfer to your premiums. This article from the Insurance Information Instiute outlines the majority of the topic. It is lengthy, so we will hilight some important facts.
-Healthcare, workers comp., and auto insurance are most vulnerable to fraud.
-The top three questionable claim type increases from 2010-2011 were duplicate billing (workers' comp.), inflated medical billing (workers' comp.), and hail damage (auto)
-From 2009, until 2011, these questionable claims have increased by nineteen percent.
-In 42 states, including Nebraska and Iowa, Insurance Fraud Bureaus have been set up to combat this rise in crime. This includes hard or soft fraud.
-Insurance fraud classified as "hard" would include acts such as an illegitamate claim. "Soft" is more opportunistic; including misrepresenting information in order to recieve lower premiums.
For the entire article, and more detailed information on the different types of insurance fraud, check out: http://www.iii.org/issues_updates/insurance-fraud.html