Benefits 101
04/11/2005
Writer: Linda Anderson, (979) 862-1460,lw-anderson@tamu.edu
Contact: Dr. Joyce Cavanagh, (979) 845-3850,jacavanagh@ag.tamu.edu
COLLEGE STATION - The bags and boxes are packed and in the car, and the first month's rent is paid on a brand-new apartment. Parents stand misty-eyed on the curb waving good-bye.
Life and all its possibilities beckon to young adults leaving home for the first time.
But after all the excitement and anticipation dies down a little, young adults need to face some practicalities of living on their own, said a Texas Cooperative Extension expert.
One of those practicalities is insurance, said Dr.
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04/11/2005
Reading your insurance policy, especially the explanation of benefits, is extremely important. If you don't have a copy of your policy, it is your right to have one. Call your insurance company right now! It contains good information about how to file a claim, rental coverage of equipment, and how to file an appeal.
An insurance policy is a contract between the company and the insured. If it's listed in the policy, they cover it. If they do not mention it, they do not cover it. As with most contracts there are gray areas. Fortunately, for the insured, that means the policy is open to interpretation.
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04/11/2005
Insurance is one of the most costly bills to pay each month, yet it's a bill most people probably think about the least. Often insurance is something we know we need so we get it and then file the policy never really comprehending all the details of the coverage and never updating it.
However, it's not enough for individuals to have insurance -- it's just as important for individuals to understand their coverage and to review it periodically.
"When it comes to insurance, knowledge is the best policy," says Diane Koken, NAIC president and commissioner of the Pennsylvania Department of Insurance.
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04/11/2005
"Employee retention is absolutely essential to the small employer," says Jack Chute, president of John Chute & Associates, an employee-benefit consulting company in Toronto.
Adds Mike Sanford of Canadian Benefits Consulting Group: "Employee health benefits are essential not only for peace of mind and attracting and retaining good employees, but [they] are also one of the best tax breaks small businesses can find."
Yet recent data from the Canadian Federation of Independent Business shows it's just not happening in a huge swath of the small business world.
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04/11/2005
Dental Insurance Plans Explored
Posted on Thursday January 06, @03:00PM Pacific
In the United States, although it is fairly common for an employer to provide heath insurance, dental coverage is a rare benefit. Fortunately, I recently become aware of a wide array of discount dental plans that are available for very reasonable prices for both individuals and families.
My father was in need of a significant amount of dental work, root canal, crown, bridge; as I said the works! He went to our general dentist, but was not confident that he could do the work. So, he asked around and found another dentist with an excellent reputation.
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04/11/2005
In recent years as San Francisco's Dome Construction Corp. was
getting hit with big premium increases for health insurance, it did what many
other companies were doing -- made its employees pay more of the costs. But
two years ago it did something else. It added vision coverage.
With health insurance premiums rising at double-digit rates during the
past few years, employers have been struggling to find ways to rein in costs.
Dropping ancillary benefits like dental and vision insurance might seem like a
quick fix, but many firms appear reluctant to do so.
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04/11/2005
Dental Insurance for Employees and Dependents
Products > Financial Services Insurance Agency, Inc. > FSIA Dental Insurance
Dental insurance has become a major component of the benefits package that financial institutions are offering to their employees in this competitive marketplace. FSIA offers dental plan designs that are insured by Aetna US Healthcare, CIGNA, Guardian Life Insurance Company and Delta Dental of Massachusetts. The wide variety of plan design options gives the financial institution the flexibility to choose a plan that meets its employees' needs while remaining within its budgetary requirements.
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04/11/2005
Copyright 2005 A.M. Best Company, Inc. BestWire February 18, 2005 683 words A.M. BEST SPECIAL REPORT: U.S. INDIVIDUAL INDEMNITY MARKET MOVES TOWARD CONSUMER-DRIVEN PRODUCTS OLDWICK, N.J. (BestWire) - The U.S. individual major-medical market is evolving toward consumer-driven products as a natural reaction to the growing number of self-employed, uninsured people, along with a segment of the working class that can't afford health coverage. According to a special report released this week by A.M. Best Co.
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04/12/2005
Selecting an Appropriate Plan
Deciding on whether to purchase dental coverage and selecting from countless regional and national dental plans can seem like a daunting task. Whether you are considering small business, group, individual or family dental insurance, the information that follows can help guide you through the decisions. This article offers an overview of why dental insurance is important and cost effective and explains the different types of dental plans, including direct reimbursement, indemnity, preferred provider organization (PPO) , dental health maintenance organization (DMHO) , discount/referral or reduced fee for services (RFFS) and point of service (POS) plans.
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04/12/2005
A Consumer's Guide To Dental Insurance
Consumers searching for individual, family, group or small business dental insurance can choose from a broad range of regional and national dental plans that accommodate a variety of needs and expectations. The following article begins with a brief overview of the fundamental differences between medical and dental insurance and the role dental coverage plays in maintaining your overall health and well-being. The article then presents information that helps you make an informed decision when selecting a dental plan and also provides tips for maximizing use of the plan’s benefits.
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04/12/2005
What looks like a bargain today may not be a good buy in the long run. While your out-of-pocket costs are, of course, an important part of your decision-making process when choosing a dental plan, they are not the only criteria to use when evaluating your options. Your primary focus should be to determine whether the coverage will satisfy your dental care needs. Consider the following:
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06/13/2005
HARTFORD, Conn., May 25, 2005
- Aetna (NYSE: ΑET) Dental today announced it is adding access to discounts on alternative health care services through a national network of providers, as well as discounts on fitness center memberships and home exercise equipment, to its expansive product portfolio. These discounts also will be provided to Vital Savings by Aetna discount card holders. There is no additional cost to members to access these discounts.
"The addition of these services is another example of Aetna Dental providing differentiated value to our members," said Pat Farrell, head of Aetna Dental.
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04/18/2005
Expansion includes additional product options that offer flexible underwriting guidelines and make plans more attractive to consumers
HARTFORD, Conn., April 12, 2005
- Aetna (NYSE: ΑET) today announced it will offer a broad portfolio of voluntary dental plans to employers with more than 50 employees. These voluntary plans are defined as benefits where employees pay at least 50 percent of the total premium. Aetna is offering these options to help employers balance the need to offer competitive benefits while managing the total cost of their employee health care coverage.
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04/14/2005
When you choose a dental plan from Blue Cross and Blue Shield of Texas, you’re in good company. That’s because Blue Cross and Blue Shield of Texas has been offering dental coverage since 1973, and currently serves more than 500,000 members. And, we’ve been providing health benefits longer than most companies have been around.
Standard plans are available for both small and large groups. Groups with more than 150 eligible employees can also tailor a plan to meet their specific needs.
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04/14/2005
Plant and business closings, down sizings and reductions in hours affect employees in numerous adverse ways. Workers lose income, the security of a steady job and, often, the health and other benefits that go along with working full time. As a dislocated worker, you may have many questions, some of them concerning your health and pension benefits. For instance, Do Ihave access to my retirement funds? What happens to my health insurance coverage? Can I continue health benefits until I get another job?
You may have rights to certain pension protections and health benefits even if you lose your job.
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04/14/2005
10 Ways
To Make Your Health Benefits Work for You
US. Department of Labor
The Department
of Labor's Employee Benefits Security Administration (EBSA) administers serveral important health benefit
laws covering employer-based health plans, which govern your basic rights
to information about how your health plan works, how you qualify for benefits
and how to make claims for benefits. In addition, there are specific laws
protecting your right to health benefits when you lose coverage or change
jobs. EBSA also oversees recently enacted health care laws covering special
medical conditions.
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04/14/2005
Group Plan: An employer group purchases and maintains insurance coverage for its employees. Premiums are paid by the employer and may require the employee to partially or fully pay for coverage with pre-tax income deductions. The employer may customize the plan with the insurance company with regard to benefits, employee deductibles/co-pays, covered treatment, and annual maximums.
Private employer-sponsored group benefit plans are regulated by the Employee Retirement Income Security Act of 1974 (ERISA), under the Pension and Welfare Benefits Administration, U.S. Department of Labor.
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04/10/2005
Does the sound of a dentist's drill set your teeth on edge? Consider how much greater your anxiety would be if you had no dental insurance.
Forty-six percent of the population doesn't, according to the National Association of Dental Plans.
Individual coverage is available, but finding the right policy can take a little digging. And, like the group coverage offered through employers, it doesn't always pay for everything.
Some dental insurance professionals believe that individual policies are more expensive and in some cases less comprehensive than you might get with a group plan.
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