What will the medical insurance cover?
Q. If you work at a hospital or doctor's office, what kind of medical insurance are you given?
And would they cover, say dental work? Or an optometrist?
And, lastly, would medical coverage cover lasik eye surgery?
Just curious. Thanks!
And would they cover, say dental work? Or an optometrist?
And, lastly, would medical coverage cover lasik eye surgery?
Just curious. Thanks!
A. It's up to the business. Each employer picks the type of coverage they want to buy for the employees, IF ANY (they're not required to buy any!)
Some will include dental and/or vision. Some won't.
NO insurance covers lasik eye surgery for vision correction. It's considered voluntary, not medically necessary.
Some will include dental and/or vision. Some won't.
NO insurance covers lasik eye surgery for vision correction. It's considered voluntary, not medically necessary.
What insuarance offers the best vision coverage for the most affordable price? (I really want lasik soon.)?
Q. I am coming off my parents insurance and im trying to find who offers the best vision coverage at the most affordable price... because im getting corrective eye surgery soon.
thanks!
thanks!
A. As an elective procedure, I'm not sure that any regular insurance covers lazik surgery. You may have to opt for a 'flexible spending" health plan that you can pay into (pretax) and can use for any surgery, elective or not.
How much is lasik surgery now and is it covered under anyones insurance?
Q.
A. Hi � The cost of LASIK or PRK can vary from anywhere between $500 per eye to $2000 per eye, and there are multiple reasons for the large range in price. Typically, the cost for patients with high prescriptions, hyperopia (farsightedness) or astigmatism is slightly higher than those with low or moderate myopia (nearsightedness). Technology is also a determining factor in the cost of the procedure. At LASIK MD, we offer Standard and Custom LASIK or PRK. Advanced Custom Wavefront offers better quality outcomes for those patients with high prescriptions, thin corneas and larger-than-average pupils. Custom LASIK requires technology that is costlier, and is therefore offered at a higher price.
With regard to insurance, now more than ever, companies are offering either full or partial coverage for laser vision correction as part of their vision care plan. If you are covered under a vision plan with your employer, ask your benefits representative about laser vision correction coverage. It�s also worth mentioning that you can use your employer-run Health/Flexible Spending Account for medical procedures like LASIK or PRK laser eye surgery. This will help you make the procedure more affordable by using your pre-tax dollars.
Hope that helps,
LASIK MD � Canada�s laser vision correction provider
www.lasikmd.com
With regard to insurance, now more than ever, companies are offering either full or partial coverage for laser vision correction as part of their vision care plan. If you are covered under a vision plan with your employer, ask your benefits representative about laser vision correction coverage. It�s also worth mentioning that you can use your employer-run Health/Flexible Spending Account for medical procedures like LASIK or PRK laser eye surgery. This will help you make the procedure more affordable by using your pre-tax dollars.
Hope that helps,
LASIK MD � Canada�s laser vision correction provider
www.lasikmd.com
Heallth insurance for the self employed?
Q. I need dental and health insurance for an affordable price. I am unmarried.... what can I do? who offers it? how much will it cost?
A. As a self employed individual, you should do some reading on Health Savings Account qualified plans - I have posted an article I wrote earlier this year titled - The five reasons why the Nevada self-employed should look at HSA qualified plans in 2007
HSA Qualified Health Plans work by coupling a Qualified High Deductible Health Plan (Q-HDHP) with a Tax Advantaged Health Savings Account. The funds deposited to the HSA can be utilized to pay for Qualified Medical Expenses on a tax-free basis and balances roll over from year to year. The minimum Q-HDHP deductibles are $1,100 for single and $2,200 for family coverage. When coupled with 100% co-insurance plans they can significantly reduce the annual maximum out of pocket cash when compared with traditional Co-pay plans. This is especially true when discussing family plans where there may be deductibles for each family member. The Q-HDHP plans utilize family deductibles where one or multiple family members' medical costs go toward a single deductible.
Reason One - Q-HDHP's can reduce the insured's total liability when it comes to maximum out of pocket expenses. One of the more popular $500 deductible Nevada plans has an annual maximum out of pocket of $3,500 - for a family on this plan; the maximum out of pocket is $7,500. In addition, once the maximum annual out of pocket is reached, the insured still pays co-pays for physician's office visits and prescription drugs. With a Q-HDHP, the more popular "single deductible" plans can offer maximum out of pockets as low as $1,100 for individuals and $2,200 for families. In addition, once the deductible is satisfied, all covered expenses are paid by the plan; including prescription drugs.
Reason Two - For the self-employed; health insurance premiums are 100% tax deductible. However, in order to deduct your qualified medical expenses they have to exceed 7.5% of the insured is Adjusted Gross Income (AGI). Because the funds deposited into the HSA are 100% tax deductible, the insured now gets first dollar tax deductibility of their qualified medical expenses. In addition to routine medical care, some examples of Qualified Medical Expenses are; Dental treatments, Eyeglasses, Fertility enhancement, Lodging, COBRA Payments and LASIK Eye Surgery to name a few.
Reason Three - In 2006, the insured was required to have a Q-HDHP for a full year in order to fully fund an HSA. Thanks to the 109th Congress and President Bush, this is no longer a restriction. In 2007, a single person can now contribute up to $2,850 and a family can contribute up to $5,650, regardless of the deductible selected or when the insured obtains the Q-HDHP. Individuals who are 55 and older can make additional catch-up contributions of $800 to their HSA in 2007.
Reason Four - Nevada has over 120,000 self-employed individuals. The first few years of being self-employed are the most difficult when it comes to cash flow. The IRS is now allowing a one time "penalty free" funding of Health Savings Accounts by rolling funds from an IRA into an HSA. In order to avoid penalties, this must be a trustee-to-trustee transaction. This can free up as much as $470 in monthly cash flow for a family in their mid forties with two teenage children.
Reason Five - Many local banking institutions are now offering Health Savings Accounts. This makes it easier than ever for the self-employed to manage their Nevada Health Savings Account related finances. No longer does the insured have to use an HSA trustee that is located outside of the state of Nevada; making it painless to deposit and access funds that are necessary to pay for Qualified Medical Expenses.
HSA Qualified Health Plans work by coupling a Qualified High Deductible Health Plan (Q-HDHP) with a Tax Advantaged Health Savings Account. The funds deposited to the HSA can be utilized to pay for Qualified Medical Expenses on a tax-free basis and balances roll over from year to year. The minimum Q-HDHP deductibles are $1,100 for single and $2,200 for family coverage. When coupled with 100% co-insurance plans they can significantly reduce the annual maximum out of pocket cash when compared with traditional Co-pay plans. This is especially true when discussing family plans where there may be deductibles for each family member. The Q-HDHP plans utilize family deductibles where one or multiple family members' medical costs go toward a single deductible.
Reason One - Q-HDHP's can reduce the insured's total liability when it comes to maximum out of pocket expenses. One of the more popular $500 deductible Nevada plans has an annual maximum out of pocket of $3,500 - for a family on this plan; the maximum out of pocket is $7,500. In addition, once the maximum annual out of pocket is reached, the insured still pays co-pays for physician's office visits and prescription drugs. With a Q-HDHP, the more popular "single deductible" plans can offer maximum out of pockets as low as $1,100 for individuals and $2,200 for families. In addition, once the deductible is satisfied, all covered expenses are paid by the plan; including prescription drugs.
Reason Two - For the self-employed; health insurance premiums are 100% tax deductible. However, in order to deduct your qualified medical expenses they have to exceed 7.5% of the insured is Adjusted Gross Income (AGI). Because the funds deposited into the HSA are 100% tax deductible, the insured now gets first dollar tax deductibility of their qualified medical expenses. In addition to routine medical care, some examples of Qualified Medical Expenses are; Dental treatments, Eyeglasses, Fertility enhancement, Lodging, COBRA Payments and LASIK Eye Surgery to name a few.
Reason Three - In 2006, the insured was required to have a Q-HDHP for a full year in order to fully fund an HSA. Thanks to the 109th Congress and President Bush, this is no longer a restriction. In 2007, a single person can now contribute up to $2,850 and a family can contribute up to $5,650, regardless of the deductible selected or when the insured obtains the Q-HDHP. Individuals who are 55 and older can make additional catch-up contributions of $800 to their HSA in 2007.
Reason Four - Nevada has over 120,000 self-employed individuals. The first few years of being self-employed are the most difficult when it comes to cash flow. The IRS is now allowing a one time "penalty free" funding of Health Savings Accounts by rolling funds from an IRA into an HSA. In order to avoid penalties, this must be a trustee-to-trustee transaction. This can free up as much as $470 in monthly cash flow for a family in their mid forties with two teenage children.
Reason Five - Many local banking institutions are now offering Health Savings Accounts. This makes it easier than ever for the self-employed to manage their Nevada Health Savings Account related finances. No longer does the insured have to use an HSA trustee that is located outside of the state of Nevada; making it painless to deposit and access funds that are necessary to pay for Qualified Medical Expenses.
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Title Post: What will the medical insurance cover?
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Thanks For Coming To My Blog
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