Each insurance company has a list of covered drugs divided into internal priced-level groups. The common drugs levels are Generic, Brand and Non-formulary levels. Those drugs may be purchased by prescription only. For each drug there is maximum doze allowed for a certain period (typically 1 month or 90 days). If the doctor prescribed refills to the drugs, the insured may get the refilled drug without the need to re-visit the doctor Prescription drugs benefit is included in most insurance pla...

Life insurance is a very important way to protect individuals and families from a financial disaster in an unexpected event of losing their loved ones. The US senate has recognized the life insurance as one of the most important financial tools to protect the American families, therefore it passed many acts that give huge tax and other benefits to those plans. The lawmakers recognized that it is better to encourage families to purchase life insurance plans. They decided to waive any taxes on ...

Term Life Insurance This is the most common policy and the cheapest of all. Insured are covered for certain years on a certain dead benefits. There are no elements of saving and disability within this policy. The beneficiaries will get the benefits upon the insured death without paying any taxes. The minimum benefits available are 50K for kids and 100K for adults. It is common to purchase Term contract for 10-30 years, with an option to continue and be insured until the age of 95-100 without...

Group Health Insurance Group health insurance is the best plan for most insured. In general no proof of insurability is required to participate, where many insured may not be covered otherwise. Under group plans the cost of services is negotiated to be the lowest and the coverage is considered good Plans may or may not offer coverage for family members of the insured. It is up to the group administrator or the employer benefit department to set the coverage policy Most group health...

HMO (Health Maintenance Organization) Health Insurance Plans The HMO Health Insurance Plan is considered the most affordable system. The insured has to select a Primary Care Physician (PCP) doctor from the plan’s directory. The PCP has the authorization to refer patients to specialists, hospitals and other service providers. If a patient seeks a service without the PCP authorization he/she may end up paying a very high cost for this service, as the insurance carrier may not cover it...

One of the major expenses for many families and individuals in the US is the cost of health services. Rising premiums in the recent years made it either more expensive or hard to afford service. Unlike the national health law in many countries, the health insurance carriers in the US are for profit organizations, regulated by each state. The health insurance carriers have the power to accept or reject new clients as well as terminate existing insured under the federal and the local state regu...