 |
|
|
|
|
Pitfalls: Beware of In-Plan versus Out-of-PlanEven with a Ph. D. in physics, figuring out health insurance is hard! Finding out just what your plan covers is sometimes a frustrating and difficult process. An example of this is when you have a policy that you think covers 80 percent of your doctor’s visits, but when the doctor bill arrives, it comes broken down into different ways. One consumer in Pennsylvania noted three things: what the visit was, what the nurse did, and what lab tests went out. “It was a $200 to $300 bill for whole thing and the insurance company would say we'll cover $50. You’d call [them] up and say I thought you'd cover 80 percent and they’d say, yeah, but only up to what we think is fair." According to Rhonda Orin, who is a Washington, D.C. attorney who represents consumers in disputes with insurance companies, "If you have a procedure and your doctor who you picked in-plan sends, calls in, and does anything with a person or entity out of plan -- you're going to get Source: http://www.wpxi.com/money/15216406/detail.html?rss=burg&psp=news Tip: If you are having problems with paying for a medical procedure, find out from the hospital social services department if there is help in the form of hardship programs. Some hospitals, especially non-profits, have foundations established to help people who are not able to afford to pay for their medical care. Also, call your local “211” line. This is a non-profit call center that is available for free and you can guide you to community services, some of which may be able to help you with your medical bills. You can find your local “211” help center at: www.211.org Remember: If you are having problems with medical bills, you can call A New Horizon to review these and more solutions to your financial situation. A New Horizon is your resource to assist people in managing their finances or their "unexpected" out of pocket expenses after medical treatment. A couple of things not to do:
Medical Bill and Your Taxes: Medical costs seem to increase every year. There is a way to get Uncle Sam to foot some of the doctor bills, but you need to make sure you know and follow the rules. The Internal Revenue Service lets you deduct medical costs as long as they are more than 7.5 percent of your adjusted gross income. This percentage may seem unattainable at first glance, but with a little tax triage you might just meet it. Don't overlook the medical expenses of everyone listed on your tax return. Medical and dental bills for you, your spouse and your dependents count toward reaching the allowable deduction limit. You might be able to count some medical expenses you paid for a parent, even if Mom or Dad isn't considered your dependent for exemption purposes. And while it's not something we want to think about, don't forget about medical bills you paid for a deceased dependent in the year they were paid, whether before or after the person passed away. Overlooked medical costs Allowable, often overlooked, medical deductions:
Health-conscious taxpayers also have a friend in the IRS. Weight-loss But don't try to cheat on your calorie intake or the IRS. The diet program must be medically necessary. Acceptable situations include, for example, when a doctor recommends the regimen to reduce the health risks of obesity or hypertension. And don't be confused by the IRS ruling that over-the-counter drugs are now reimbursable expenses for folks with flexible spending accounts. That decision is for the accountants only. It doesn't apply to medical costs tallied on Schedule A, meaning you can throw away all those aspirin receipts you've been hoarding. It is important to review the list of what the IRS will and won't allow you to count toward your medical deductions, check out Publication 502. You can find the publication at www.irs.gov. Source: Bankrate.com
|
Where the jobs will be! Unless you're retired, blessed with generous parents or extremely gifted in the lottery-ticket-buying department, a whole lot of your financial well-being is based on having a job. Your chances of saving, avoiding debt and investing are all greatly enhanced when you have a good income. Unfortunately, these are tough times, and not many people believe 2008 is going to see much of an improvement in the economy. So if you think your job could be better, or could be gone, you might want to get a handle on the job market. What kind of jobs are growing the most and what will they pay? And what kind of degree do you need to get one? The chart below, based on the Bureau of Labor Statistics' "Fastest-Growing Occupations 2004" projections, shows the top 20 fastest-growing jobs between 2004 and 2014. There is a short description of the job as well as the median salary for that position, based on information from the Bureau of Labor Statistics' Occupational Outlook Handbook, 2006-07 Edition. (Use this link to search for your own career in the A-Z Index.) Home health aides Network systems and data communications analysts Medical assistants Physician assistants Computer applications software engineers Physical therapist assistants Dental hygienists Computer systems software engineers Dental assistants Personal and home care aides Network and computer systems administrators Database administrators Physical therapists Forensic science technicians Veterinary technicians Diagnostic medical sonographers Physical therapist aides Occupational therapist aides Medical scientists Occupational therapists Source: Bankrate.com
|
billed out of plan." She recommends that consumers tell their doctors to use lab companies within their health care plan. She also recommends getting information in writing. Calling someone from an insurance company on the phone who does not identify their name, and says ‘sure you are covered’ and then you get a denial, guess what? You have no way of proving that person said it was covered. 
programs in some instances now might count as a deductible medical expense, joining the stop-smoking programs the agency approved earlier. 
