Pharos-Tribune

Breaking News

Business

October 11, 2013

Consumer Reports: Avoid expensive health insurance mistakes

On Oct. 1, America's health care system underwent its biggest change since Medicare's arrival almost 50 years ago when the major provisions of the Affordable Care Act start kicking in. And although millions of people who have been without health insurance should finally be able to get it, the system will remain just as complex and unforgiving as it is today.

To avoid unnecessary fees, penalties and just plain bad deals, Consumer Reports Money Adviser offers these health-insurance don'ts:

1. Don't assume because you're healthy you don't need health insurance. If you get sick and then decide to buy health insurance from plans made available as part of the Affordable Care Act, you might not be able to, at least not right away. You'll be allowed to purchase only individual health insurance during the initial open enrollment period — Oct. 1, 2013, through March 31, 2014. In subsequent years, open enrollment will run from Oct. 15 through Dec. 7 for coverage that begins Jan. 1.

So if you decide to thumb your nose at the 2013-14 deadline and are hit by a bus on April 1, you'll have to wait nine full months to get health insurance. And needless to say, it won't retroactively pay for care you received when you didn't have it.

2. Don't pick a plan based solely on low premiums. There is no free lunch in health insurance, but there is a menu of payment options to choose from. You can pay for your care upfront, in the form of a higher premium, or later, in the form of a higher co-payment, a bigger deductible or both. Neither form of payment is inherently better; it depends on your personal situation and preferences.

3. Don't carelessly go out of network. One of the big selling points of a preferred provider organization (PPO) over a health maintenance organization (HMO) is that if you have a PPO, you can opt to get your care from doctors or hospitals that don't participate in the plan's network. With HMOs, you can't.

Text Only | Photo Reprints
Business
  • BIZ-PT041314 SecFed3.jpg From the inside out: Rebranding transforming Security Federal The rope barriers are gone from Security Federal Savings Bank's downtown offices. Lettering on the floor replaced them, advising bank customers to wait a few feet back from the bank tellers' desks. Each teller's station is flanked by wood panels that

    April 13, 2014 5 Photos

  • Women's boutique open along Eel River A girls' and women's accessories boutique recently opened near the west entrance to the River Bluff Trail in Logansport. Glam Girl Boutique owner Megan Ramirez said she's focusing on selling inexpensive women's accessories and girls' accessories and

    April 13, 2014

  • BIZ-PT041314 Haley Jasmantas.jpg Business news in brief, April 13 Carroll chamber has Business After Hours FLORA -- The Carroll County Chamber of Commerce will have a Business After Hours event from 5 to 7 p.m. Monday at the Sycamore Industrial Park located on Ind. 75 just south of Ind. 18 in Flora. Visitors may to

    April 13, 2014 1 Photo

  • ON THE JOB: Keeping a work-life balance Being a working mom with a full-time career sometimes has me in a rut. I have to really focus on balancing work, life, family and, of course, "me" time. This task is a lot harder than I thought it would be when I first became a mom. One of my favorit

    April 13, 2014

  • Landing Downtown: Volunteers key to beautifying city April 6 through 12 is National Volunteer Week, which is an opportunity for all of us to thank the volunteers who impact our lives every day in a number of ways, both large and small. I'm always baffled by people who say "oh, I'm not a volunteer." Rea

    April 6, 2014

  • Etherington Farms-Hogs 03 jss [Duplicate] Where will the farm bill take us? Robin Roberts farms 1,000 acres in Marshall County, and the past five years have been good ones financially. But Thursday, Roberts was contemplating the end of direct federal payments to farmers, and the impact it’s going to have on his Plymouth farm

    April 1, 2014 2 Photos

  • BIZ-PT033014 hurd H.jpg 4 generations, 1 business For Juanita Hurd, family time isn't just on weekends and holidays. It's every day. Hurd, one of the partners in Dibble and Hurd Tax Services in Logansport, works with her daughter, granddaughter and great-granddaughter for long hours each tax season.

    March 30, 2014 2 Photos

  • IDOR offers payment plan for taxes due INDIANAPOLIS -- More than 1.9 million Indiana taxpayers had filed their annual tax returns as of Thursday, according to a news release from the Indiana Department of Revenue. Individuals must file and pay before the individual income tax deadline on

    March 30, 2014

  • BIZ-PT033014 Janet Packard.jpg Business news in brief, March 30, 2014 Logan author publishes book Logansport author Christa Ashley Gorman recently published a collection of stories, "Awakening: A Catalog of Dreams," through Dorrance Publishing Co., Inc. "Awakening" is a collection of dreams. These dreams, each a short

    March 30, 2014 1 Photo

  • CLEDO CHAT: What goes into economic development? CLEDO has gone through a number of changes over the years, and more recently reorganized from LEDF (Logansport Cass Economic Development Foundation) to CLEDO (Cass Logansport Economic Development Organization), and within the past six months to CLEDO

    March 30, 2014

Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Poll

Should e-cigarette marketing be regulated like tobacco?

Yes
No
Unsure
     View Results
Featured Ads
AP Video
Raw: Royal Couple Visits Australia Mountains Raw: Pro-Russian Militants Killed on Base Captain of Sunken South Korean Ferry Apologizes Boston Bombing Survivors One Year Later Sister of Slain MIT Officer Reflects on Bombing Raw: Blast at Tennessee Ammunition Plant Kills 1 Hoax Bomb Raises Anxiety in Boston Egypt Clamps Down on Mosques to Control Message After Fukushima, Japan Eyes Solar Power New York Auto Show Highlights Latest in Car Tech Ex-California City Leader Gets 12 Year Sentence Disbanding Muslim Surveillance Draws Praise Hundreds Missing After South Korean Ferry Sinks Passengers Abuzz After Plane Hits Swarm of Bees Town, Victims Remember Texas Blast At Boston Marathon, a Chance to Finally Finish Are School Dress Codes Too Strict?
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.