Category Archives for "Health"

Insurance policy and how to use it

This is probably the best way to secure yourself from injuries or any other problems that you may face in life. Insurance policies are insurance packages that will offer health treatment or any other treatment that is in correlation with your injuries. You need to understand that not all policies are all-inclusive. There are cheaper ones, and there are those who take care of everything. Those who take care of many situations will cost more. But if you are a responsible person, you know t hat these situations could end your life. There is one thing that people usually don’t consider. If a situation occurs that you can’t work anymore, or simply you can’t work for a long time or a short period, you will need to have some insurance. There are many companies that offer different conditions with different offers.

Your job is to find the best company out there that has good offers for the smallest amount possible. Yes, we know, this isn’t the thought of the day, but you don’t have to pay a lot of money for an average policy if you don’t have to. The thing is, if certain situations occur, you need to be prepared and of course, you need to know what are your rights and obligations. That is why you should always ask for detailed answers when you sign the contract for a certain policy. You can secure your whole family, and of course, you can do it for a lifetime or a certain period. There are different offers or packages that you can choose. Keep in mind that those who are good and for a lifetime, usually cost some money. When we mean some, we mean a certain amount of money.

The price

PriceWhen we talk about the price, really, the sky is the limit. There are different packages, and even those offers are negotiable. This agencies and companies want clients. If they hear your case, and if they manage to change the offer that is good for your side of the deal, then you will choose them. Psychology is that simple. Their real cause is to have you as their client, and they will even choose to give you special offers if they see that you are sincere and you want their help. Of course, not all companies are like that. Some will be very strict. But then again, we are not sure if they have a lot of clients. Those types of companies are very rare. Usually, they have different targets. They have some other primary things to do, and this is their side service.


Choosing the best company is not easy, but we know that you will make the right decision. After all, the market is free, and you are more than welcome to explore and choose the best option for you and your family. Keep in mind that sometimes it is not easy to choose the right company and there will always be that one question. Is there a better and cheaper option than the one I just signed? You will never know, or at least it will be too late to know. But you can always use different insurance for your family member of even if that is possible, you can break the contract and start or choose another policy. Breaking a contract is not recommended because you will have to pay the penalty for it. So always read everything and choose carefully.

Medicare Supplements

Medicare Supplements, also known as “Medi-gap” plans, are designed to help seniors & the disabled pay for medical treatment and services that are not covered by standard Medicare – the “gaps” in its coverage.

There are 10 different plans, identified by the letters A through J. Starting with Plan A, the number of services covered increases with each letter designation.

Preferred Insurance offers the complete spectrum of plans, choosing from a variety of companies. We understand how important and how serious this decision is for you, and we will work closely with you and your family to get you the best protection for your budget.

Our initial consultation will include:

We will give you an overview of the primary Medicare coverage plans, Medicare A and Medicare B.

We will review the new Medicare Advantage plans with you.

We will explain what each level of care, A through J, does and does not cover.

We will go over the benefits and costs for the new Medicare Part D.

We will give you exact quotes on each for Medi-gap, Medicare Advantage and Part D prescription plan available.

We will help you determine which level best suits your specific needs.


In addition to the traditional Medicare Supplement plans A through J, we also offer the new Medicare Advantage plans that include both office visit co-payments and prescription benefits. If you would like to keep your existing Medicare Supplement plan and just add prescription coverage, we can help you select a Prescription Drug Plan (PDP) under the new Medicare Part D program on a stand-alone basis. Please remember that you only have until May 15, 2006, to select a Medicare Part D prescription benefit. If you are currently covered by Medicare, and you do not elect a Part D benefit by May 15, 2006, you may have to pay a higher monthly premium as a result of being a late enrollee.

If you want to use supplements, the best option is to consult with our experts. Using these things can lead to some problems if they are being used in a wrong way. So it is a must to check with our experts before using anything. Your health is important to you and us, so it is vital to use these supplements with caution.

Health Savings Accounts (HSA’s) & High Deductible Health Plans (HDHP’s)

High Deductible Health Plans (HDHP’s) are designed to accompany Health Savings Accounts (HSA’s). Under this arrangement, you can combine the benefit of a lower monthly cost from a high deductible health plan, with the benefit of a savings account that is designed to accumulate funds to pay your deductible. For example, assume you purchase an HDHP that has a $2000 deductible. After the deductible, the health plan pays 100% of all expenses. You can combine the HSA with the HDHP. Under HSA legislation, you can fund the HSA on a pre-tax basis. You can fund the account monthly, quarterly, or annually. The funds in the HSA account are meant to cover expenses that apply to your deductible. So, essentially, you pay your deductible with pre-tax, rather than after-tax, dollars.

The funds that are in an HSA are designated for medical and dental use only. If you use the funds for any other type of purchase, you WILL be assessed a 10% penalty on the use of the funds. This provision is similar to IRA provisions. If you have an HSA with an account balance, and you reach the age of 65, you can withdraw the funds and pay ordinary taxes, but no penalty applies.

If you enroll in an HSA as a single, your HDHP WILL NOT cover any medical or prescription costs until you satisfy the deductible. After the deductible has been satisfied, your HDHP will either cover 100% or some other agreed-upon percentage. If you enroll as a family, you must completely satisfy the family deductible before your HDHP pays ANYTHING. Normally the family deductible is equivalent to two (2) individual deductibles. For example, an individual might have a $2000 deductible; a family would have a $4000 deductible before the underlying insurance pays anything. After the HDHP deductibles and out of pocket maximums have been met, the health plan pays 100% of additional medical expenses.

Rationale for HSA Style Health Plans

hsa-piggyIf the funds in an HSA are your own, you will be more prudent in how you use your own money. If the doctor suggests an MRI, one of the first questions you might ask is; ‘how much does it cost?’ and ‘who can offer me the best price?’. This is exactly the type of consumer behavior HSA’s are designed to encourage. HSA’s are designed to encourage more prudent shopping of medical and dental services. As more consumers embrace the HSA model, it is felt this may have a dampening effect on the inflation in medical pricing. For more information click here to email us.

Of course, you can always choose one of the plans and options in our offer. The point of our program is that you can accumulate the money you haven’t spent. This is the option for those who didn’t use them at all. So as you can see, we are very flexible because life is hard in these days and we are here for you.