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Healthcare and the Family Budget – What is a Health Savings Account and Do you Need It?

Posted by admin on April 28th, 2010 | No Comments »



Healthy children are easier on the household budget unfortunately not everyone is so blessed so what do you do? When considering the family budget and being a good parent, providing quality healthcare at a reasonable price is right up there with the mortgage payment, car payments and college tuition.

Health Savings Accounts can be simple and easy to understand. A Health Savings Account is a tax-favored savings account combined with a qualifying high-deductible health insurance plan. Health Savings Accounts allow you to legally avoid federal income tax by depositing 100% of the health plan’s deductible, up to $2,850 for singles or $5,650 for families, into your Health Savings Account. Health Savings Accounts, (HSA) touted as a way to lower health-insurance costs and broaden coverage, have fallen short of their promise. They are gaining popularity because they allow individuals, rather than an HMO or the government, to take charge of their health care. Also, they’re an excellent option for individuals and families without employer-sponsored health insurance. Health Savings Accounts are becoming quite popular for people who are generally healthy and they’re leading the way in this transition.

Savings can be used to help pay the deductible and for non-covered medical expenses, such as dental and vision. Savings reduce or eliminate annual out-of-pocket exposure. Savings not spent remain in the HSA tax-deferred. Savings and investments unlike premiums, unused HSA dollars remain in the HSA until you use them later. Day-to-day expenses come out of the health savings account, while catastrophic expenses are covered by insurance. Health Savings Accounts are gaining popularity because they allow individuals, rather than an HMO or the government, to take charge of their health care. A Health Savings Account combined with a High Deductible Health Insurance Plan gives individuals an economic incentive to become better consumers of health care services because they are now spending their own money up to the level of their high deductible. Health Savings Accounts are an excellent option for individuals and families without employer-sponsored health insurance.

If your employer offers a high-deductible health insurance policy, you may be able to make pretax contributions, like you would with a flexible-spending account. Legislation passed by Congress December 9, 2006, will let you make a one-time transfer of funds tax free from a flexible-spending account to an HSA. You cannot have an HSA if you use a flexible-spending account to pay health-care costs or if you have other medical coverage (say, through a spouse’s policy). You can keep the money in an HSA account even after you leave that job, similar to a 401(k). Keep in mind that you can continue to withdraw money from the account tax-free for qualified medical expenses after age 65. You can’t make new HSA contributions after age 65, but you can still use the money in your account tax-free for medical expenses at any age.

Deposits to an HSA may be made by any policyholder of a qualified High Deductible Health Plan (HDHP), by an employer on behalf of a policyholder, or any other person. Previously, the annual maximum deposit to an HSA was the lesser of the HDHP deductible or specified IRS limits. As of 2007 plan years, Congress has abolished the lower limit based on the deductible, and the maximum contribution will simply be the statutory limit. These include deductibles and coinsurance as well as many other expenses not covered under medical plans, such as dental, vision and chiropractic care; durable medical equipment such as eyeglasses and hearing aids; purchase and use of qualifying over-the-counter medications; and transportation expenses related to medical care. Contributions are deductible, the account accumulates tax-free, and withdrawals used for medical expenses are tax-free. Contributions and gains can be rolled from year to year – there’s no “use it or lose it”. Contributions to the HSAs are tax-deductible at the federal and state level.

Healthcare is the number one issue facing many individuals and companies in America. Now with the release of Michael Moore’s new movie, SICKO, the debate on healthcare in the USA in on. Many well-meaning people believe that a government take-over of healthcare coverage, called a “single-payer” system, is the answer. Health Savings Accounts are combined with a High Deductible Health Plan (HDHP) to offer a more affordable approach to healthcare. They were created to help give control back to consumers and lower healthcare costs. While most healthcare insurance clients say they are satisfied with their current plans, the landscape changes when major illnesses start. Alternatively, your HSA balance can be used to cover your post-age-65 healthcare costs including Medicare Part A and B premiums, Medicare HMO premiums, garden-variety health premiums, insurance deductibles and co-payments, prescriptions, long-term care insurance premiums, and so forth. But what about the person who lives pay check to pay check or the single parent trying to provide healthcare for themselves and children. Combine a tax-favored Health Savings Account (HSA) and an HSA-eligible health insurance plan to save money tax-free for healthcare costs.

Health Savings Account Plans help you take control of your health care expenses with a tax-favored savings account and quality medical coverage. Health Savings Account (HSA) Plans are an excellent choice for individuals and families who want to control their health insurance costs by combining a lower cost high deductible health insurance plan with a tax advantaged savings account and network discounts. Learn how to take advantage of the money-saving benefits of a Health Savings Account. By allowing you to deposit tax-deductible funds into a health savings account that you can use to cover medical costs, Health Savings Accounts enable you to take control of your own health care decisions. Once your insurance policy has become effective, you may begin to fund your Health Savings Account. Please note: To obtain the maximum tax benefit from your Health Savings Account in 2008 as well as lock in 2007 rates, you must have your HSA-qualified insurance plan effective no later than December 31. There are about 10 million people enrolled in “consumer-driven health plans,” and about 6 million of those are Health Savings Accounts. To really maximize your savings pair up a Discount Health Plan, for the everyday savings on you health care, with your HSA and HDHP. You may want to read my other article on Healthcare and the Family Budget – How to Get the Biggest Bang for Your Buck!


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New York Health Insurance

Posted by admin on April 25th, 2010 | No Comments »



New York Health Insurance

Health insurance is insurance that pays for all or part of a person’s health care bills. A health insurance policy is an annually renewable contract between an insurance company and an individual. With health insurance claims, the individual policy-holder pays a deductible plus co-payment (for instance, a hospital stay might require the first 1000 dollar of fees to be paid by the policy-holder plus 100 dollar per night stayed in hospital). Usually there is a maximum out-of-pocket payment for any single year, and there can be a lifetime maximum.

The purpose of health insurance is to help people cover their health care costs which usually include doctor visits, hospital stays, surgery, procedures, tests, home care, and other treatments and services.

According to the latest United States Census Bureau figures, around 85% of citizens have health insurance. 59.5% of these people receive their health insurance coverage through an employer, and about 9% purchase it directly from the market. Government sources cover 27.3% of the population. Those without health insurance coverage are expected to pay privately for medical services.

Types of New York Health Insurance (http://new-york.ixs.net/General/New-York-Health-Insurance/index.aspx ) The types of health insurance in New York are group health plans, individual plans, and government health plans such as Medicare and Medicaid. In the United States, government-funded Medicare programs help to insure the elderly and end stage renal disease patients.

Group Health Plans

A group health plan offers health care coverage for employers, student organizations, professional associations, religious organizations, and other groups. The employer may pay for part or all of the insurance cost (premium).

Individual and Family Health Insurance

Individual and family health insurance is a type of health insurance coverage that is made available to individuals and families, rather than to employer groups or organizations. These types of health care plans are sold directly to individuals. For those of you who are unemployed or self-employed, an individual health insurance policy is always an option. Unfortunately rates for these policies are high and the coverage is usually less comprehensive than a managed care plan. The good news is that, in many cases, your insurance premium will be tax deductible. Of course, if you’re married, you can always try to catch a ride on your spouse’s group health insurance benefits plan.

Health insurance can be further classified into fee-for-service or indemnity (traditional insurance) and managed care. Both group and individual insurance plans can be either fee-for-service or managed care plans.

Managed Care Health Insurance

These include HMO, PPO, and POS plans. Managed-care plans typically make use of healthcare provider networks. Healthcare providers within a network agree to perform services for managed-care plan patients at pre-negotiated rates and will usually submit the claim to the insurance company for you. In general, you’ll have less paperwork and lower out-of-pocket costs with a managed care health insurance plan and a broader choice of healthcare providers with an indemnity plan.

There are three main types of managed care plans:

• Health Maintenance Organizations (HMO)

• Point-of-Service (POS)

• Preferred Provider Organizations (PPO)

All of these plans offer substantial health insurance benefits to members and their families. If you’re fortunate enough to have a choice of plan, consider the advantages, and disadvantages, of each. Compare the cost of care, the difference in premiums, deductible amounts and your freedom to choose a doctor outside the plan. There are numerous other coverages to compare as well — from prescription drugs to dental to alternative therapies. Be sure you understand the fine points of each.

Indemnity or Fee-For-Service Plan

Normally it covers the same expenses as managed care. The difference is your doctor is paid for each visit with the claim filed by either the patient or the medical provider. A big advantage– unlike some managed care plans, Fee-for-Service allows the patient a great deal of freedom in choosing which doctors and hospitals to use, but will probably involve higher out-of-pocket costs and more paperwork.

However, you’ll likely be required to pay an annual deductible before the insurance company begins to pay on your claims. An Indemnity plan may also require that you pay up front for services and then submit a claim to the insurance company for reimbursement.

Short-Term Health Insurance

Short-term health insurance plans are designed to protect against unforeseen accidents or illnesses, rather than to provide comprehensive coverage, and, as such, typically do not include coverage for preventive care, physicals, immunizations, dental or vision care. It covers for a limited period of time, and may be an ideal solution for those between jobs or those waiting for other health insurance to start. Typically, short-term plans offer coverage up to six months, although some plans may offer coverage up to 12 months. Purchasing a short-term medical insurance plan will make you ineligible for any guaranteed issue individual health plans commonly referred to as HIPAA (Health Insurance Portability and Accountability Act) Plans. HIPAA plans are usually very expensive and are generally intended for people with pre-existing medical conditions who would have trouble getting health insurance otherwise.

Medical Savings Account (MSA)

Medical savings account (MSA) is the most recent development in the area of health insurance. The principle behind the MSA is to take the bulk of the financial risk, and premium payments, away from the managed care and indemnity insurers, and allow individuals to save money, tax free, in a savings account for use for medical expenses. Individuals or their employers purchase major-medical policies, medical insurance policies with no coverage for medical expenses until the amount paid by the patient exceeds a predetermined maximum amount, such as 2500 dollar per year. These policies have extremely high deductibles and correspondingly low monthly premiums and the participants take the money that they would have spent on higher premiums and deposit it in an MSA. This money accrues through monthly deposits and also earns interest, and can be spent only to pay for medical care

What’s The Best Health Insurance Plan?

There is no one “best” plan for everyone. The best match for you and your family may be different than the best match for someone else. In order to help you answer this question, here are a few things to consider:

1. Are you going to need long-term coverage or just something for the short-term?

If you’re between jobs for 1-6 months, you may want to go for short-term coverage options. Alternatively, if you have no prospects of receiving group health insurance coverage through an employer, you may value the stability and increased benefits offered through an individual and family health insurance plan which will provide longer term coverage.

2. Are you looking for basic coverage or more comprehensive coverage?

Some insurance plans offer basic coverage (i.e., primarily inpatient hospitalization and outpatient surgery coverage) to cover you in case of a major accident or illness. These insurance plans typically have a lower monthly premium than plans with more comprehensive coverage, and may be appropriate for people who intend to use their insurance primarily in the event of a serious accident or illness. Other insurance plans that offer more comprehensive coverage may include benefits such as preventative care, physician services, prescription drug benefits and routine office visits. These insurance plans typically have a higher monthly premium than plans that only offer basic coverage, and may be appropriate for people who intend to use their insurance on a regular basis.

3. Would you pay for your services before you use them or when you use them?

If you choose a health insurance plan with a low monthly premium, you’re likely to have a higher co-payment or deductible. If you don’t anticipate making frequent use of your health insurance coverage, a higher-deductible plan with a lower monthly premium may suit you best.

4. How important to you is easy access to specialists?

Health insurance plans that require you to coordinate your care through a primary care physician typically require that you obtain a referral before seeing a specialist. So, if you prefer easier access to specialists, you may wish to consider a different type of plan.

5. Do you have a specific doctor or hospital that you would like to visit for healthcare?

Some insurance plans utilize provider networks. Pay special attention to the network of doctors or facilities that each health insurance plan utilizes. Also note that networks utilized by health insurance plans can change, so there is no guarantee that your doctor will always be contracted with your chosen health insurance plan.

6. What is the most you could pay out in case of a serious illness or injury?

Health insurance plans typically place limits on how much a member is required to pay out per year for his or her healthcare. This limit is often referred to as an out-of-pocket maximum. Once you’ve contributed this maximum amount toward your healthcare, the health insurance company typically covers all other costs for the remainder of the benefit year. If you’re concerned about what may happen to you in case of a serious illness or injury, you may wish to pay special attention to the out-of-pocket maximums for the health insurance plans you’re considering.

No matter what insurance plan you may choose, educate yourself and understand all the basics of the health insurance before finalizing anything.

For more information about New York Health Insurance visit: http://new-york.ixs.net


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Personal Health Records–Who Are the Key PHR Providers and How Are They Handling Laboratory Results?

Posted by admin on April 24th, 2010 | No Comments »



Several significant events have driven public and industry interest in personal health records. In 2004, President George W. Bush outlined a plan for the implementation of an electronic health record that could be accessed by all Americans. Although numerous companies had been in this market for several years, the announcement provided impetus for growth in this area. In 2007 and early 2008, computer giants Google and Microsoft announced their intentions to enter into this market, Google with Google Health and Microsoft with Microsoft HealthVault.

In March of 2008, laboratory industry leader Quest Diagnostics announced a partnership with Google Health to provide uploading of laboratory testing to Google’s version of a personal health record (PHR).

The U.S. Department of Health and Human Services cites six positive outcomes with the implementation of widespread personal and/or electronic health records.

1. Improved healthcare quality

2. Prevention of medical errors

3. Reduction of healthcare costs

4. Increased administrative efficiencies

5. Decreased paperwork

6. Expanded access to affordable healthcare

Although there are a number of potential barriers to widespread implementation of personal health records, three are the most significant. They are:

1. Interoperability. The various systems need to be able to interact with each other and various computer systems.

2. Privacy and Security. The systems need to provide HIPAA-like compliance, but also have security measures similar to the banking industry and in compliance with a variety of industry standards.

3. Data Modification. In order for physicians to be able to act on medical information, they will need to be confident of the veracity of the medical data. This will at least partly require that they be able to determine the sources and modifications that have occurred to the information in personal health records.

Although there are a number of companies currently in the marketplace offering personal health records, they fall into four broad categories.

1. Standalones. These companies are primarily personal health record companies, such as LifeOnKey or FollowMe. In some cases these companies also specialize or have specialty subcategories, such as MiVia, which was designed for the migrant farmworker population, or LifeOnKey’s Diabetes focus or Women’s Health focus.

2. Spin-Offs of Information Technology or Software Companies. Most notable in this category are Google Health and Microsoft HealthVault.

3. Healthcare Providers. Examples of this are Partners HealthCare’s Patient Gateway and the Group Health Cooperative’s MyGroupHealth.

4. Platform Providers. In some cases, the companies are focused less on being the patient/consumer’s personal health record, than in providing the platform and/or technology for personal health records. MedCommons is an example of this. Microsoft HealthVault may also fall into this category. FollowMe also is willing to customize their product for other companies, which then provide their own branding.

There are five ways personal health record providers are generating revenue.

1. Subscriptions. Typically, standalone PHR providers charge nominal annual subscription rates ranging from about $25 to $50.

2. Advertising. Google Health and Microsoft HealthVault indicate they will generate income via advertising. It’s not yet clear how Microsoft intends to do this, but Google Health has indicated that their product itself will not contain advertising, but will have search boxes that connect to the traditional Google page, which does have targeted advertising.

3. Data mining. Although often mentioned as a possible source of revenue, few companies indicate they are currently selling non-user-identified health data to researchers or pharmaceutical companies.

4. Increased Service. Healthcare providers, in general, acknowledge that their personal health record systems are just part of the service and a happy client will remain with the system. Google Health indicates they aren’t in the healthcare business and part of their mission is to drive users to Google.

5. Subcontracting and licensing. MedCommons is focusing on providing their services and platform technology for other users and companies that might want to deliver personal health records. It’s not clear if Microsoft HealthVault plans to enter the market in this fashion, but many industry sources suggest it’s likely.

Ultimately, what is clear from looking at a cross-section of PHR providers is that there are a number of approaches to dealing with laboratory results depending on the nature of the PHR. Google Health has recently announced a partnership with Quest Diagnostics.

This is likely to be the first in a number of similar relationships with other laboratory corporations. The real question, one that remains unaddressed yet, is whether competing labs will create partnerships with Google Health and other PHRs or whether it will become an exclusive and competitive marketplace, where some PHRs will find their services locked out of the market.

Another potential question is whether or not a laboratory, independent or affiliated with a particular healthcare provider, is going to be able to provide data uploads to a myriad of different PHRs. Although largely a technical issue, it’s hard to see how a laboratory needing to provide results to twenty or thirty different PHRs in addition to requesting physicians and patients, is going to make laboratory medicine more efficient or cost-effective.

PHRs Gain Momentum

In his January 20, 2004, State of the Union Address, President George W. Bush outlined a plan for the implementation of an electronic health record that could be accessed by all Americans. The system was to be in place by 2015. According to the White House Web site, patient participation would be voluntarily, and “these electronic health records will be designed to share information privately and securely among and between health care providers when authorized by the patient.”

To achieve that goal, the following steps were taken:

1. Health Information Standards were adopted. Under the direction of the Department of Health and Human Services, in cooperation with other Federal agencies and the private sector, voluntary standards were to be identified and endorsed.

2. Health Care Information Technology Demonstration Project funding was increased to $100 million.

3. Federal agencies were encouraged to adopt Health Information Technology.

4. A sub-cabinet level position of National Health Information Technology Coordinator was created. This falls under the Office of the National Coordinator for Health Information Technology, part of the Department of Health and Human Services.

It’s important to note that the Bush Administration’s proposal did not break new ground. Numerous companies providing personal health records (PHR), medical health records, and electronic health records or some way of storing and delivering medical information electronically were in existence for several years prior to the Bush Administration’s efforts.

The announcement of launches into the health information technology (HIT) arena by Google and Microsoft has renewed media interest in the area, and may signal a renewed velocity and vigor to the market.


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Living Wills and Health Care Directives – What is Involved?

Posted by admin on April 22nd, 2010 | No Comments »



The following is an example of a Health Care Directive (many people still refer to this as a Living Will).   It is broken down into 3 basic parts.  1) Appointment of the Health Care Agent.  2) Health Care Instructions.  3) Making the Document Legal.   Like most legal documents, it can be a bit confusing and overwhelming.  The purpose for making this easily available to the public is simple.  To help people know what to expect before contacting a lawyer and having him or her draft a directive for them.   Nobody likes thinking about their demise or incapacity.  However, dealing with such issues is a necessary part of life. 

 

This example should not be used as a substitute for getting solid legal advice from a licensed attorney.  Every individual is different.  Please consult a lawyer in your area to discuss your specific estate planning needs.

 

 

HEALTH CARE DIRECTIVE

 

I, ___________________________________, understand this document allows me to do One or both of the following:

 

PART I: Name another person (called the health care agent) to make health care decisions for me if I am unable to decide or speak for myself. My health care agent must make health care decisions for me based on the instructions I provide in this document (Part II), if any, the wishes I have made known to him or her, or must act in my best interest if I have not made my health care wishes known.

 

And/or

 

PART II: Give health care instructions to guide others making health care decisions for me. If I have named a health care agent, these instructions are to be used by the agent. These instructions may also be used by my health care providers, others assisting with my health care and my family, in the event I cannot make decisions for myself.

 

 

PART I: APPOINTMENT OF HEALTH CARE AGENT

 

This is who I want to make health care decisions for me if I am unable to decide or speak for myself  (I know I can change my agent or alternate agent at any time and I know I do not have to appoint an agent or an alternate agent)

 

NOTE: If you appoint an agent, you should discuss this health care directive with your agent and give your agent a copy. If you do not wish to appoint an agent, you may leave Part I blank and go to Part II.

 

 

When I am unable to decide or speak for myself, I trust and appoint ___________________ to make health care decisions for me. This person is called my health care agent.  Relationship of my health care agent to me: ___________________

Telephone number of my health care agent: _________________________

Address of my health care agent: _________________________

 

(OPTIONAL) APPOINTMENT OF ALTERNATE HEALTH CARE AGENT: If my health care agent is not reasonably available, I trust and appoint _________________ to be my health care agent instead.  Relationship of my alternate health care agent to me: ___________________________Telephone number of my alternate health care agent: ___________________________ Address of my alternate health care agent: ___________________________

 

THIS IS WHAT I WANT MY HEALTH CARE AGENT TO BE ABLE TO

DO IF I AM UNABLE TO DECIDE OR SPEAK FOR MYSELF (I know I can change these choices)

 

My health care agent is automatically given the powers listed below in (A) through (D).

My health care agent must follow my health care instructions in this document or any other instructions I have given to my agent. If I have not given health care instructions, then my agent must act in my best interest. Whenever I am unable to decide or speak for myself, my health care agent has the power to:

 

(A) Make any health care decision for me. This includes the power to give, refuse, or

withdraw consent to any care, treatment, service, or procedures. This includes deciding whether to stop or not start health care that is keeping me or might keep me alive, and deciding about intrusive mental health treatment.

 

(B) Choose my health care providers.

 

(C) Choose where I live and receive care and support when those choices relate to my

health care needs.

 

(D) Review my medical records and have the same rights that I would have to give my

medical records to other people.

 

If I DO NOT want my health care agent to have a power listed above in (A) through (D) OR if I want to LIMIT any power in (A) through (D), I MUST say that here:

 

______________________________________________________________________

 

My health care agent is NOT automatically given the powers listed below in (1) and (2). If I WANT my agent to have any of the powers in (1) and (2), I must INITIAL the line in front of the power; then my agent WILL HAVE that power.

 

______   (1)  To decide whether to donate any parts of my body, including organs, tissues, and eyes, when I die.

 

______ (2)  To decide what will happen with my body when I die (burial, cremation).

 

If I want to say anything more about my health care agent’s powers or limits on the powers, I can say it here:  ________________________________________________________________________

 

 

 

 

PART II: HEALTH CARE INSTRUCTIONS

 

NOTE: Complete this Part II if you wish to give health care instructions. If you appointed an agent in Part I, completing this Part II is optional but would be very helpful to your agent. However, if you chose not to appoint an agent in Part I, you MUST complete some or all of this Part II if you wish to make a valid health care directive.

 

These are instructions for my health care when I am unable to decide or speak for myself.

These instructions must be followed (so long as they address my needs).

 

THESE ARE MY BELIEFS AND VALUES ABOUT MY HEALTH CARE

(I know I can change these choices or leave any of them blank)

 

I want you to know these things about me to help you make decisions about my health care:

 

My goals for my health care: ________________________________________________________________________________________________________________________________________________

 

 

 

My fears about my health care: ________________________________________________________________________________________________________________________________________________

 

 

My spiritual or religious beliefs and traditions: ________________________________________________________________________________________________________________________________________________

 

 

 

My beliefs about when life would be no longer worth living:

 

________________________________________________________________________________________________________________________________________________

 

My thoughts about how my medical condition might affect my family:

 

________________________________________________________________________________________________________________________________________________

 

THIS IS WHAT I WANT AND DO NOT WANT FOR MY HEALTH CARE

 

(I know I can change these choices or leave any of them blank)  Many medical treatments may be used to try to improve my medical condition or to prolong my life. Examples include artificial breathing by a machine connected to a tube in the lungs, artificial feeding or fluids through tubes, attempts to start a stopped heart, surgeries, dialysis, antibiotics, and blood transfusions. Most medical treatments can be tried for a while and then stopped if they do not help.  I have these views about my health care in these situations:  (Note: You can discuss general feelings, specific treatments, or leave any of them blank)

 

If I had a reasonable chance of recovery, and were temporarily unable to decide or speak

for myself, I would want:

 

________________________________________________________________________________________________________________________________________________

 

 

If I were dying and unable to decide or speak for myself, I would want:

 

________________________________________________________________________________________________________________________________________________

 

 

If I were permanently unconscious and unable to decide or speak for myself, I would want:

 

________________________________________________________________________________________________________________________________________________

 

 

 

 

If I were completely dependent on others for my care and unable to decide or speak for

myself, I would want: …..

 

________________________________________________________________________________________________________________________________________________

 

 

In all circumstances, my doctors will try to keep me comfortable and reduce my pain. This is how I feel about pain relief if it would affect my alertness or if it could shorten my life:

 

________________________________________________________________________________________________________________________________________________

 

 

There are other things that I want or do not want for my health care, if possible:

 

Who I would like to be my doctor:

 

________________________________________________________________________________________________________________________________________________

 

 

 

 

Where I would like to live to receive health care:

 

________________________________________________________________________________________________________________________________________________

 

 

 

Where I would like to die and other wishes I have about dying:

 

________________________________________________________________________________________________________________________________________________

 

My wishes about donating parts of my body when I die:

 

________________________________________________________________________________________________________________________________________________

My wishes about what happens to my body when I die (cremation, burial):

 

________________________________________________________________________________________________________________________________________________

 

 

Any other things:

 

________________________________________________________________________________________________________________________________________________

 

 

PART III: MAKING THE DOCUMENT LEGAL

 

This document must be signed by me. It also must either be verified by a notary public

(Option 1) OR witnessed by two witnesses (Option 2). It must be dated when it is verified or witnessed.I am thinking clearly, I agree with everything that is written in this document, and I have made this document willingly.

 

 

___________________________________

My Signature

  

___________________________________

Date signed:

 

___________________________________ 

Date of birth:

 

___________________________________ 

Address:

 

 

If I cannot sign my name, I can ask someone to sign this document for me.

 

 

_____________________________________________________

Signature of the person who I asked to sign this document for me.

 

________________________________________________________

Printed name of the person who I asked to sign this document for me.

 

 

Option 1: Notary Public

 

In my presence on___________________________________ (date), __________________________________________ (name) acknowledged his/her

signature on this document or acknowledged that he/she authorized the person signing this document to sign on his/her behalf. I am not named as a health care agent or alternate health care agent in this document.

 

___________________________________________ 

(Signature of Notary)

 (Notary Stamp)

 

 

Option 2: Two Witnesses

 

Two witnesses must sign. Only one of the two witnesses can be a health care provider or an employee of a health care provider giving direct care to me on the day I sign this document.

 

Witness One:

(i) In my presence on _______________________ (date), ________________ (name) acknowledged his/her signature on this document or acknowledged that he/she authorized the person signing this document to sign on his/her behalf.

(ii) I am at least 18 years of age.

(iii) I am not named as a health care agent or an alternate health care agent in this document.

(iv) If I am a health care provider or an employee of a health care provider giving direct

care to the person listed above in (A), I must initial this box: [   ]

I certify that the information in (i) through (iv) is true and correct.

 

______________________________________ 

(Signature of Witness One)

 

Address:  ________________________________________________________________________________________________________________________________________________

 

 

Witness Two:

(i) In my presence on ________________________ (date), _________________ (name) acknowledged his/her signature on this document or acknowledged that he/she authorized the person signing this document to sign on his/her behalf.

(ii) I am at least 18 years of age.

(iii) I am not named as a health care agent or an alternate health care agent in this document.

(iv) If I am a health care provider or an employee of a health care provider giving direct

care to the person listed above in (A), I must initial this box: [   ]

I certify that the information in (i) through (iv) is true and correct.

 

________________________________________ 

(Signature of Witness Two)

 

Address:

________________________________________________________________________________________________________________________________________________

 

REMINDER: Keep this document with your personal papers in a safe place (not in a safe deposit box). Give signed copies to your doctors, family, close friends, health care agent, and alternate health care agent. Make sure your doctor is willing to follow your wishes. This document should be part of your medical record at your physician’s office and at the hospital, home care agency, hospice, or nursing facility where you receive your care.

 

Some of this information was taken from Minnesota statute section 145C.16.  This should not be considered legal advice, it is provided as a public service.


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The Importance of Health Insurance Today

Posted by admin on April 18th, 2010 | No Comments »



Do you ever feel like you know just enough about Health Insurance to be dangerous? Let’s see if we can fill in some of the gaps with the latest info from Health Insurance experts.

Health insurance is something that most people don’t think about very often and yet it is something that when comes foremost to mind when a loved one is sick. Health Insurance coverage varies across the world, even across the different states in the United States of America.

Health insurance is a very specific type of insurance. With this type of insurance the insurer pays the medical costs of the insured if the insured becomes sick due to covered causes, or due to accidents. The insurer may be a private organization or a government agency. Health Insurance can protect a family from financial devastation in case of serious illness.

Today, according to statistics from the US Census Bureau, many Americans, approximately 85%, have some form of health insurance. Many people, about 60%, are insured through their place of employment or through health insurance acquired personally. For about a quarter of the population, federal or state government agencies provide the insurance. These agencies may include Medicare and Medicaid as well as various state funded health insurance plans.

I trust that what you’ve read so far has been informative. The following section should go a long way toward clearing up any uncertainty that may remain.

Today, health insurance costs are rising, which is a concern to many people. Because of ongoing advances in medical care and in technology, medical treatment is more expensive. These advances help people to live longer. Today there are more senior citizens than ever before – our population is aging. The elderly population is more frail and prone to illness thus requiring more medical care than a younger population that is healthier. This also causes an increase in the price of health insurance.

Health insurance costs are also rising due to personal health choices made by individuals. Poor eating habits, smoking, drug and alcohol abuse, a lack of exercise, obesity are some of these poor health choices. In addition, there are still rural areas where there is a lack of health professionals including doctors.

Today, health insurers offer discounts and incentives to people who love a healthy lifestyle. Often, a person will provide health information and a personal medical history when buying health insurance. This history may address questions such as smoking, weight, drug use, and disease history. The incentives offered by health insurance companies today may encourage individuals to quit smoking or make other positive changes in their lifestyle. Many times, heath insurers will not insure pre-existing medical conditions. The medical history provided will screen out such applicants.

Because of the concern over pre-existing medical conditions, there are now state and federal laws that help ensure that those individuals with pre-existing conditions can acquire or maintain health insurance, even if they need to change plans or providers. The Health Insurance Portability and Accountability Act (HIPAA) is a federal law ensuring that all health insurance plans nationally have a common set of standards. In addition, states can also have laws regulating health plans including group health insurance and individual health insurance. This means that the laws regulating your health insurance protections may vary from state to state. Keep in mind, that even with these laws, access to health insurance may not be protected in all situations.

COBRA continuation coverage can help you if you leave of change your job. Under COBRA, you may be able to remain in your old group health plan for a certain length of time. This can assist you in those times when you are between jobs or waiting for a new health insurance plan to cover your pre-existing condition. Under COBRA, there are limits to what you will need to pay to continue your coverage.

When word gets around about your command of Health Insurance facts, others who need to know about Health Insurance will start to actively seek you out.


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