Insurance Blog

If you are a person who don't trust banks or don't want to deal with their unreasonable bank charges like overdrafts then you are in trouble, you can't pay your health insurance without a bank account.

Next January federal health law will require Americans to carry health insurance, but most health plans accepts credit cards for first month's premium then pay the succeeding monthly premiums with check or an electronic funds transfer from a checking account. To those who don't have bank accounts this will be a real problem.

I think the government should require the health insurance providers to implement a reasonable payment options for everyone.

You can read more about it here. http://www.npr.org/blogs/health/2013/05/17/184814772/latest-health-hurdle-buying-insurance-without-a-bank-account

We have found Robert Hurdman's Financial Thinking blog very useful. He talks about finances and savings and he gives valuable advice on money and investments. I personally don't know a lot about investing and the stock market so I'll be sure to bookmark his site so I can learn more. You can check him out at Financial Thinking.

No more gibberish insurance talks and hiding conditions by using terms ordinary people are unfamiliar with, and that are usually in the middle of a thousand-word fine print.

Insurance can be expensive but it's worth it. A report by the New York-based Commonwealth Fund estimated that 84 million adults in the US have inadequate health care coverage. Families are foregoing care because they cannot afford it, even with the implementation of the AffordableCare Act in January 2014. The under-insured and uninsured will just be transferred to an inferior plan with huge out-of-pocket costs.

The federal health law that will take effect next year is expected to raise insurance premiums, especially for people who purchase their own insurance, expert said.

The law will mandate that plans increase their minimum benefits, and it will ban insurers from weeding out people already diagnosed with illnesses.

Health and Human Services Secretary Kathleen Sebelius said to reporters that "Some people purchasing new insurance policies for themselves this fall could see premiums rise because of requirements in the health-care law."


Her remarks come weeks before insurers are expected to begin releasing rates for plans that will start on Jan. 1, 2014, when key provisions of the health law kick in.

Some insurers have already begun signaling that they could dramatically increase prices for people buying policies in the individual market to compensate for restrictions on how they treat consumers, as well as new fees and requirements that they provide bigger benefits packages, reported by The Wall Street Journal last week.

The Society of Actuaries also issued a warning that the cost of medical claims in the new individual-insurance market could rise by an average of 32% per person over the first few years the law is in place.

ACE USA Medical Risk Group introduce a wide range of physician professional liability insurance products and coverage solutions in support of hospitals and healthcare facilities for their employed physicians, and their owned or affiliated medical groups. Product offerings include companion primary physician professional liability policies, fronting capabilities for primary physician professional liability policies, reinsurance of physician professional liability policies issued by healthcare facility captives, and uniquely structured integrated hospital and physician insurance program designs that may include separate or shared retentions and policy limits.

The physician professional liability insurance coverages are available for hospitals, healthcare facilities and Accountable Care Organizations (ACO) providing insurance or alternative risk financing solutions to their employed physicians, or owned or affiliated medical groups.

Product Highlights of the companion Primary Physicians Professional Liability policy* include:

• Separate limits of liability each physician and corporate entity
• Defense expense in addition to policy limits
• First dollar coverage (no deductible) or deductible options
• Individual tail coverage or group rolling tail coverage for departed physicians
• Consent to settle provision
• Professional Legal & Audit Defense Coverage
• Full claims capabilities to support companion primary physician primary policies

Benefits of an integrated or coordinated hospital / physician insurance program include:

• Common insurance or reinsurance partner for both the healthcare system and their employed, owned or affiliated physician groups
• Joint or coordinated defense provides greater control and cost containment of joint claims
• Coordinated risk management support services
• Integrating physician insurance into an integrated self-insurance or alternative risk financing mechanism may offer lower cost compared to traditional insurance
• Backed by the ACE Group’s financial strength and excellent reputation

*This coverage is currently not available for stand-alone medical groups that are not owned by or affiliated with an ACE insured hospital or healthcare system.