The IRS Deductions Blog

Posts Tagged ‘health’

Question: Does insurance deductible apply for buying lenses or spectacles?

My health insurance says $150 is deductible and Spectacle allowance is $100. Does it mean I have to pay the optometrist $150 for some thing first to get the $100 allowance?

Answer: that usually means that after you pay $150 towards the eye exam $100 is allowed towards the glasses/frames

Items on Amazon Right Now for Deductible Insurance:

SquareTrade 3-Year Electronics Warranty ($250-300) $41.99 SquareTrade Care Plans are great value and cost 70% lower on average than traditional warranties.  Upon purchase, you will get an email confirmation.  You will not be mailed a paper contract.  If you have questions, please call: 1.877.WARRANTY….

SquareTrade 3-Year Tablet Accidental Protection Warranty ($500-600) $120.50 Accidental Damage from Handling (ADH) guards you against life’s little mishaps, whether you drop your cell phone on the street or splash coffee on your laptop.  ADH must also be purchased within 30 days of when you bought your item. ADH coverage begins on the 31st day after the item’s purchase – issues in the first 30 days are not covered. Upon purchase, you will get an email confirmation.  You …

SquareTrade 3-Year Electronics Warranty ($350-400) $53.99 SquareTrade Care Plans are great value and cost 70% lower on average than traditional warranties.  Upon purchase, you will get an email confirmation.  You will not be mailed a paper contract.  If you have questions, please call: 1.877.WARRANTY….

2-Year SquareTrade Warranty plus Accident Protection for Kindle Fire, US customers only $44.99 …

Obama issues rules on mental-health coverage

Advocates for mental-health and substance-abuse patients have long lobbied for a “level insurance field,” asking for the same kinds of coverage offered for physical ailments.

Aero-TV: Penalty-Free Deployment – Insurance Adjusts CAPS Deductible

Question: Anybody had endoscopic brain surgery for colloid cyst?

What am I looking forward to afterwards and what did it cost? I have a high deductible insurance plan and am looking at paying for a big chunk of this myself.

Answer: www.google.com has a great deal of information that you could use to find your answers , while yahoo answer is more likely to be better for people’s opinions.. thanks.

Items on Amazon Right Now for High Deductible Insurance Plans:

2 Year CPS Consumer Priority Service Extended Warranty for Video Game Consoles Under $1,000.00 $199.99 eBidds Inc. has proudly partnered with Consumer Priority Service (CPS) to offer several Extended Warranty Services. Extended Warranties may not only be purchased for products you are currently buying from eBidds or have bought from us in the last 30 days, but also products purchased from other legitimate retailers. An Extended Service Plan is generally an extension of your original manufacturer’s…

Impact of Type of Insurance Plan on Access and Utilization of Health Care Services for Adults Aged 18-64 Years With Private Health Insurance: United States, 2007-2008 $1.99 National attention to consumer-directed health care has increased following the enactment of the Medicare Prescription Drug Improvement and Modernization Act of 2003 (P.L. 108-173), which established tax-advantaged health savings accounts (HSAs) (1). Enrollment in consumer-directed health care products has increased over the past several years (2). Consumer-directed health care may enable individu…

Do high-deductible plans, coupled with HSAs, promote underinsurance? Consumer-directed care cuts bureaucracy.(POINT/COUNTERPOINT): An article from: OB GYN News $9.95 This digital document is an article from OB GYN News, published by International Medical News Group on October 15, 2008. The length of the article is 426 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Do high-deductible plans, cou…

Health savings accounts: bad debt for hospitals: can patient pay high deductibles?(Practice Trends): An article from: Family Practice News $5.95 This digital document is an article from Family Practice News, published by International Medical News Group on May 1, 2004. The length of the article is 466 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation Detai…

Week in review

Rochester Haiti quake has local families on edge About 50 people gathered Thursday evening at Christ Episcopal Church in Red Wing for a prayer vigil for a local trio who were on a mission trip in Haiti when Tuesday’s earthquake occurred, apparently killin

Patient Deals Intro Video

Question: Health insurance …. High deductible, low premium or Low Deductible high premium…?

Family of 4… visit dr. maybe 5x year .

Answer: High deductible low premium. If you are fairly healthy and don’t visit hospitals often, this will save you money in the long run, as you get older, you may want to switch that if your health starts to decline.

Items on Amazon Right Now for High Deductible Health Insurance:

Impact of Type of Insurance Plan on Access and Utilization of Health Care Services for Adults Aged 18-64 Years With Private Health Insurance: United States, 2007-2008 $1.99 National attention to consumer-directed health care has increased following the enactment of the Medicare Prescription Drug Improvement and Modernization Act of 2003 (P.L. 108-173), which established tax-advantaged health savings accounts (HSAs) (1). Enrollment in consumer-directed health care products has increased over the past several years (2). Consumer-directed health care may enable individu…

Do high-deductible plans, coupled with HSAs, promote underinsurance? Consumer-directed care cuts bureaucracy.(POINT/COUNTERPOINT): An article from: OB GYN News $9.95 This digital document is an article from OB GYN News, published by International Medical News Group on October 15, 2008. The length of the article is 426 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Do high-deductible plans, cou…

Health savings accounts: bad debt for hospitals: can patient pay high deductibles?(Practice Trends): An article from: Family Practice News $5.95 This digital document is an article from Family Practice News, published by International Medical News Group on May 1, 2004. The length of the article is 466 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation Detai…

Farming health care

Health-care reform might not solve all of farmers’ concerns about insurance coverage and its afforda …

Health & Renter’s Insurance : About Very High Deductible Health Insurance

Question: How do deductibles in health insurance work?

I have considered purchasing private insurance. My school insurance doesn’t cover the stuff I need it to.

Answer: Dustin – All of the answers thus far are essentially correct: your health insurance deductible works the same way as your car insurance deductible – you have to pay that amount before the insurance starts paying. So, in your example, you have an annual deductible of $2,500 after which Humana will start paying 80% of what’s left and you’ll “co-insure” the other 20% (you’ll stop paying the 20% when you’ve paid an extra $2,000). Therefore, you have an out of pocket maximum exposure (at least in theory) of $4,500/year. Now, if you have “only” $5,000 or $10,000 in medical care charges, that’s not a particularly good deal, is it? On the other hand, remember the primary reason to have any insurance: NOT for routine, ordinary, or even “low-level” expenses but, instead, for big-time, costly, catastrophes, like that $87,000 hospital/surgical claim, etc.

Consider these things before buying:

1. How “much” health care do you generally use? For most folks, especially guys, the answer usually is “not much.” Therefore, why pay more to have a lower deductible plan? Even if you buy a plan with a $5,000 deductible (look at the Humana “Autograph” plan), you’ll still get the benefits you’re most likely to use included ($40 MD copay/visit and $15 copay for generic drugs).
2. If you’ve not done so, find a broker to help. Go to NAHU.org to find one near you (NAHU is the professional association for brokers like me who specialize in health insurance).
3. Go online to run some more plans & prices to be sure you have the most cost-effective plan for your needs. Visit my site (see below) or use an online quoting site like Norvax (see below).
4. Finally, stick with the “brand name” companies, like Humana, Blue Cross, Aetna, etc. There are a lot of other companies around who will “look good” but who will be really hard to deal with in the even you do have a really large claim. This is too important to mess around with; stick with the “big boys.”

Hope this helps a bit!

Items on Amazon Right Now for How Do Health Deductibles Work:

How to get the most out of your health benefits this year

(ARA) – It’s the New Year and like millions of other Americans, you may be thinking about your New Year’s resolutions. One resolution that many people may not consider is making the most of their new health benefits plan.

Insurance Tips & Facts : How Do Deductibles Work on Health Insurance?

Question: What is a Major Medical Deductible on Health insurance?

I currently am receiving quotes for medical insurance and I have this one policy quote that does not list a deductible, but it does list this Major Medical Deductible for $3500.00 & total out of pocket $6000.00? What does this mean? Is this for Emergency care only?

Answer: The total out of pocket includes the co-insurance. The plan will have a percentage, most of which are 80%/20%. After you pay the deductible of $3500 you pay a percentage of the medical charges until you’ve paid a total of $6000. Then the policy will pay for all covered charges.

“Major Medical” usually means a comprehensive policy, as opposed to a policy with many limits to the coverage. How it’s used on your quote I have no idea because not all companies use it and just because a quote doesn’t say it’s major medical doesn’t mean it’s not. Also, many plans could be considered major medical and still have many limits to the plan.

You’ll be less confused if you visit an agent that works with all the major companies in your area. The agent can find the best policy for your situation and budget in a few minutes, saving you a lot of time. They can also explain the coverage of the policy and, more importantly, what is not covered. There is no extra charge using an agent.

Items on Amazon Right Now for Deductible Medical:

J.K. Lasser’s 1001 Deductions and Tax Breaks 2012: Your Complete Guide to Everything Deductible $9.98 A straightforward guide to taking tax breaks and deductions on your 2011 tax returnCompletely revised to reflect important changes in this year?s tax laws, J.K. Lasser?s 1001 Deductions & Tax Breaks 2012 will help you take advantage of every tax break and deduction that you may be entitled to. This comprehensive guide is clearly organized by subject matter so you can easily find situations that ma…

J.K. Lasser’s 1001 Deductions and Tax Breaks 2011: Your Complete Guide to Everything Deductible $14.96 A straightforward guide to taking tax breaks and deductionsCompletely revised to reflect important changes in this year’s tax laws, J.K. Lasser’s 1001 Deductions & Tax Breaks 2011 will help you take advantage of every tax break and deduction you may be entitled to.This comprehensive guide is clearly organized by subject matter so you can easily find situations that may apply to you. Each tax benef…

J.K. Lasser’s 1001 Deductions and Tax Breaks 2010: Your Complete Guide to Everything Deductible $4.99 A straightforward guide to taking tax breaks and deductionsCompletely revised to reflect important changes in this year’s tax laws, J.K. Lasser’s 1001 Deductions & Tax Breaks 2010 will help you take advantage of every tax break and deduction you may be entitled to.This comprehensive guide is clearly organized by subject matter so you can easily find situations that may apply to you. Each tax benef…

Adel journalist, author investigates story of immigrant deaths

DENISON, Iowa- When Colleen Bradford Krantz, then a reporter for the Des Moines Register, heard the story of 11 immigrants found dead inside a grain car in Denison, she was struck – as many journalists are – with a multitude of questions.

4 Steps to Saving Money on Health Insurance and Medical Expenses