Category: insurance

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Why You Need Renters Insurance And How Much It Costs.

The renters insurance for the house I am renting is a whopping $12.50 a month for a $45,000 full-replacement value plan. Granted, I have my car insurance with them as well, but as you can see, renters insurance is just not that much money for a decent amount of coverage. And while I could have bought way more coverage than that if I wanted, I really just wanted a basic plan covering my most expensive items like computers and other electronics. That way if I was robbed or a disaster happened, I could easily replace the high-end items in the home without too much pain and agony. I have been paying for renters insurance for years now, but it seems that a majority of renters do not have this kind of insurance, and I just cannot figure out why – after all, it doesn’t cost all that much money and it can provide a little piece of mind for those of us who do not own our own homes yet but do have a few nice things.

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insurance
5
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What Is COBRA Health Insurance?

COBRA insurance (short for Consolidated Omnibus Budget Reconciliation Act) is actually a Federal law that was put in place back in 1986, which gives workers and their families who lose their health benefits the right to continue group health benefits provided by their group health plan for a limited period of time. Companies with 20 or more employees must, by law, continue to offer group health insurance to former employees and family after voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. While you do have to pay up to 102% of the cost of the health insurance, if you have a pre-existing condition or a family to keep insured, it might be worth the cost until you land another job or find other health insurance options.

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insurance
25
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My Neighbor Has Gone Without Health Insurance For 30 Years.

And he can afford it – it’s not about the monthly cost. It’s about the fact that even if you have insurance, they don’t necessarily cover much of anything, especially with private insurance. (He is self-employed.) Since he was 22 years old, he has gone without health insurance, choosing instead to lead a VERY healthy lifestyle, a monthly visit to the chiropractor for his back, and using a lot of natural medicine and healing techniques on himself. He is fit, doesn’t eat any junk or man-made food, only drinks water and tea, and exercises daily. Once a year or so he pays to go to a doctor for a physical and a few blood tests – that’s it. Otherwise, he never goes to a Western doctor for anything and he heads down to Mexico for any dental work he needs. (Which MANY Americans due because of the cost here in the States) Is he crazy or is he doing the smarter thing than the rest of us who don’t get subsidized insurance through their employer?

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insurance
11
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Finally Finished Paying Off My Medical Bills.

In July, Mrs. Micah issued a personal finance challenge to her readers; to find one step you can take to make your financial system better or more organized. Well, in answer to that challenge, I promised myself I would get my medical bills 100% paid off, and I just finally wrote the last check out for $208.96 for the removal of my stitches. Sure, something else may pop up this year (like my wife needing new glasses), but I have finally paid off all the expenses tied to both my misdiagnoses of leukemia and my real diagnosis of a melanoma skin cancer. Needless to say, I don’t ever want another year like this one until I am about 85 years old.

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insurance
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It’s Health Insurance Open Enrollment Time – Choose Wisely.

For those of you getting your health insurance from your employer, you will probably be asked either this month or next to sign up again for the insurance plan that you want. Most of us always stick with the same one we had the previous year, but with costs rising and incomes stagnating, that might not be your best choice. Could you go with a higher-deductible plan to save money on your monthly premium? Could you open an HSA (Health Savings Account) to set aside some pre-tax money to help pay for medical costs throughout the year? Should you consider switching plans altogether? These are some important choices to keep in mind as you sign up for another year of health insurance coverage, and probably worth discussing with your benefits adviser. Of course, no matter what you choose you will still probably be responsible for many of your bills that insurance won’t cover, but you have to do a careful balance of premiums due and out of pocket expenses. An article in this month’s Money Magazine has a few tips that might help you make the right decision:

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