Health Insurance Tip #43 – How to Avoid Over-Paying Your Doctor

For anyone who’s been to the hospital, you know the paperwork afterward can be overwhelming. Between the hospital bills, the surgeon, the anesthesiologist, the doctor you’ve never met before who must have come in while you were on the operating table…the bills start flying in.Here’s a tip – WAIT to pay your provider bills until you’ve received confirmation from your insurance.Since every claim must be submitted to your insurance first, you’ll receive a statement from your carrier for everything. The statement is called an EOB (Explanation of Benefits).One big problem is that some providers (not all) like to get paid right away, and don’t bother to wait for the insurance company. So, they send the bill to you, the same time they send it to your insurance. Since the billed amount is usually higher than the insurance company’s “allowed amount”, if you pay the bill, you will more than likely pay too much.What’s worse, the provider may not refund you the overage, they may just give you a “credit” towards you next visit.So, the solution? Make a file that you drop every doctor invoice into. As soon as your insurance company sends you an EOB, pull out the file and match the doctor’s invoice with the EOB. If it matches, pay the doctor. If it doesn’t, call the doctor’s office and request a corrected invoice.This way, you can be sure to never over-pay for your patient responsibility costs.*Note – be sure you don’t wait longer than 30 days to call your provider’s billing department, as some providers are quick to send you to collections.

Home Owner’s Insurance – Tips on Getting Started

Prior to actually purchasing a home owner’s insurance policy, it is important to be aware of the various factors involved and the carious types of insurance products and types of coverage available. Understanding these factors can definitely make purchasing home insurance a more stress-free and successful undertaking. It is also important to make yourself aware of the types of coverage and the limits that you might wish to purchase. Also, look into whether or not you might require any additional coverage types.It is also important to ensure that any insurance company you are considering going with is actually licensed to sell insurance in your state. In any case in which you are unsure of this fact, you can check the license status of a company of the Directory of Regulated Companies on the Insurance Department’s Website. Also, you should only deal with properly licensed insurance brokers and agents. You can also contact the broker or agent directly, either via telephone or e-mail in order to request their license number.When you are examining your various options for an insurance quote, you will be asked a series of questions, and it is vital that you answer them accurately and fully. Make sure also that when you are comparing companies, compare them for service as well as price, as the best insurance companies are well aware that the lowest cost insurer may not turn out to be the best bet if they are unresponsive when it comes to actually making a claim-which is, after all-the point of being insured. When you compare for price, remember that it will save you time and money in the long run, and you should, along with price, compare the company’s claim practices, their reliability, wider reputation, as well as their general level of service.It is also very important to read all policy documents carefully, as coverage extent may well be different from company to company. Also, some home insurance companies might include extra coverage without any extra premiums, while other may charge for each type of coverage that you decide to add to the policy. You can also search the Internet and price comparison Websites in order to cross-reference and check quotes and details. Ensure that the Websites you are visiting are legitimate and secure.