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Blog: Financial Organizing Made Easy & Fun
 Healthcare Financial Figures for a Healthy Wallet
Have you heard about the increasing costs of health care in America?
By now who has not! If you are one of the 180 million American's covered by employer sponsored health care plan, a figure according to the recent Towers Perrin 2007 Health Care Cost Survey, it's likely that you recently received a new insurance card in the mail. With the start of each new calendar year many employees are likely find themselves with revised health care benefits plans. These changes that can contain a few unpleasant surprises, such as increased co-pay amounts or deductibles. Don't get caught off guard by these changes by learning the key figures.
A new trend in the employee health care is a shift from co-pay arrangements to co-insurance. Under these new co-insurance arrangements, you'll be sharing the risk with the insurer. Coverage is frequently expressed a percentage, such as 20% instead of a fixed amount, such as a $20 co-pay commonly found in co-pay plans. A hasty glance at your new coverage and you might miss this shift, and that could be a potentially costly mistake.
Get to know these details is important before you really need them and you can avoid confusion during a health care emergency or sudden illness. Now is the time to review your plan's details and coverage carefully. Remember, to direct your questions to your plans administrator. Check the back of your coverage card for your plan administrators phone number or website contact information.
Review your new medical coverage cards that arrived in the mail. The cold and flu season might require a visit to your family physician and an unpleasant surprise could lie ahead if you don't review these new amounts now.
A Few Simple Questions to Ask Yourself:
Do I have a co-pay plan or co-insurance plan?
Do I have different co-pay amounts for a routine doctor's visit vs. a specialist visit?
If so, what are these amounts?
What are my co-pay amounts for emergency room or hospitalizations?
What are these amounts?
What is my co-pay for prescription medicine coverage?
Do I have different co-pay amounts based upon brand name versus generic items?
If so, what are these amounts?
I've just placed my own plastic coverage card into my wallet. Wouldn't you do the same?
Here is to healthly and a wealth of powerful knowledge in the New Year. I believe that the power of information and an informed consumed is great. Thanks again for joining me as we continue our 'Getting to Know Thyself' journey.
See you back next week for our third installment!
posted on: 1/8/2008 11:30:00 AM by Nanette Duffey
category: Finances
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Financial Organizing Made Easy & Fun
by Nanette Duffey
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About Nanette:
Nanette Duffey, owner of Organized Instincts, LLC provides professional organizing and money manager services to individuals, families, and small businesses. Before founding Organized Instincts in 2005, she held several finance roles at GE and earned a B.S., Financial Management, from Clemson University. Nanette has appeared in the media and regularly presents to a variety of civic and community organizations. Nanette currently serves as the Treasurer for the NAPO Georgia (National Association of Professional Organizers) chapter. Nanette loves to travel, football, photography, ballet, and learning to cook.
Nanette's Website:
www.OrganizedInstincts.com
Pastime Passions
- Everyday Food with Rachel Ray
Long before she was Oprah cool she was just Rachel Ray. Thanks to her easy going style, and speedy recipes I now consider myself a comfortable in the kitchen.
- Professional Lego Artist
Self described as 'His work is obsessively and painstakingly crafted and is both beautiful and playful.' Nathan Sawaya transforms my favorite childood toy, LEGO's into an art form that will amaze you.
- Kiplinger Magazine - It's for everyday people
One the few magazines that I renew year after year. For about $20 per year it's full of straightforward, easy-to- read articles on personal finance topcis like investing, saving for college & retirement and all things money for today's household. Give yourself the gift of knowledge.
- Atlanta Ballet
Fine Art at it's finest for those of us how learned to dance only after we became adults.
- "When I Was Younger" Commercial
Thanks to the healthcard giant, KP, I get a healthy dose of the giggles each time this commercial appears. See for yourself.
Organizer's Favorites
- Mozy.com - Online Data Back-up Service
When is the last time you backed up your vital electronic files? Mozy offers a online back-up of your files, including no and low-cost options. Check them out online.
- Quicken - Personal Financial Software
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www.OnlineOrganizing.com is a service mark of Bradford, LLC.
