Daily Archives: February 21, 2018

Archive of posts published in the specified Day

Feb
21

Car Accidents & Insurance Myths

Myth # 1. "I pay insurance premiums and if I am involved in an accident, I know my insurance company will take care of me …"

ANSWER : Insurance companies are not your best friends especially if you are involved in an accident, and it's not clear whether you are at fault or not. Remember, insurance companies are not in the business of paying claims, no matter what their advertising says. They are in the business of collecting premiums.

Myth # 2. My friend told me, "no-fault insurance means, it's not my fault"! Is this true? "

ANSWER : No, this is a false statement because no-fault insurance means that your insurance company pays for your damages regardless of who's at fault.

Myth # 3. "I do not need car insurance since I've never had or been involved in a car accident."

ANSWER : Wrong! If you've never been in an accident, you're very lucky. However, remember that an accident occurs every 10 seconds on our roads and highways and if by the unhunction chance you do have an accident you may lose everything. Not only is it required Car insurance is the best protection you can have in the event an automobile accident occurs. In addition, it is required by the State of Texas to have some basic form of auto insurance, and failing to do so carries some fairly strict punishments.

Myth # 4. "Since it was not my fault, I do not need a personal injury attorney even though I was injured."

ANSWER : Wrong! It is important that you talk to an attorney so that he can ensure you are aware of your rights and also not persecuted by someone else's lawyer.

Austin car accident attorneys will help you:

– Evaluate any bodily injury claim to determine the amount of money to which you are entitled;

– Speak with your doctors, obtain your medical records, and billing statements so that we can notify medical care providers as to what to bill;

– Have an investigator interview witnesses, take statements, and photograph the accident scene and your vehicle;

– Resolve complex issues and negotiate an overall settlement; and

– File a lawsuit, if necessary. …

Feb
21

Important Points to Ponder Before Buying a Health Insurance Plan

A health insurance plan is an essential part of financial planning in this era of skyrocketing medical costs. Medical inflation has been aggravating at its full spree which makes it all the more important to buy a Health Insurance plan which could sponsor the hospitalization and medical treatment bills or expenses.

It is important to evaluate and look for the following parameters to get a best health plan for you and your family.

1. Check for the Waiting Period Clause

You must be feeling care free after taking an insurance, but your health insurance comes with a waiting period clause for specific conditions. There is an initial period clause which says that any hospitalization claim will not be admissible in first 30 days of the policy commencement apart from accidental hospitalization. The pre-existing diseases or conditions are also not covered immediately after you purchase a policy.There is a waiting period ranging from 2 years to 4 years as per the plan conditions in the industry. Also, there are certain surgeries and treatments like hernia, cataract, joint replacement, etc. which can be rented after a specific waiting period of 1 or 2 years.

So, it is important to check the waiting period clause before you finalize the health plan.

2. Check for Sublimits

There are certain capping or sublimits in your health plan which says that the specific kind of expenses are paid by the insurance company upto a specific limit and beyond that the insured or customer has to bear them at his own. For example: Room rent charges are capped on per day basis for different health plans. Some health plans also come with a mandatory co-pay where the portion of the claimed claim is to be born by the insured and the remaining is paid by the insurance company.

Check for the sublimits in your health plan to avoid any last minute surprises at the time of claim.

3. Check for Network Hospitals

The insurance companies offering health plans have certain empaneled network hospitals with whom they have a tie up. Any hospitalization or treatment taken in the stated or specified network hospital list is done on the cashless basis subject to policy conditions.

Check for the list of network hospitals of insurance company and ensure you have network hospitals of the insurer near your place of residence in case of any emergency hospitalization. Also, a treatment in non-network hospital may not offer cashless treatment and some insurers have a co-pay clause if you take a treatment in non-network hospital.

4. Check for the Claim Process

Different insurance companies have different claim procedures. Some settlement or administrator claims through Third Party Administrators (TPA's) and some have their own in house claim settlement unit to foster quick and hassle free claim processing. Also, check the claim settlement ratio of the insurer you intend to buy a health plan from to have a clear picture on the number of claims settled by the insurer.

It is important to have a …