Government Telling Health Insurance Companies How Much They Can Make – Hypocritical

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Published on: April 18, 2014

Whenever government takes over an industry, regardless of which country or which sector, shortages will soon follow. This is because the free-market mechanism has been altered due to regulation, legislation, nationalization, or perhaps due to antitrust laws. More often than not we see this in socialized countries. We see it United States with utilities, and other so-called “natural monopolies” also. In fact, we’re seeing it right now with ObamaCare. Although we haven’t seen the shortages yet, we will, there are already signs.

There have been a number of mergers with health insurance companies, hospitals, HMOs, and medical device companies as everyone readjusts to the future Affordable Health Care Act. When there are shortages the price goes up, and when the price goes up too much, the government will institute price controls. One only has to look at the history of governments meddling in business, industry and economies to see this is true.

Now then, there was an interesting piece in the Wall Street Journal on August 13, 2013 titled; “Flood Insurance Prices Surge – Law Passed by Congress Before Sandy Is Causing Sticker Shock – and a Backlash,” by Siobhan Hughes which noted that; “the $24 billion cumulative loss for the National Flood Insurance Program.

The government says they have no choice but to raise the price. Isn’t that interesting? If it were left to the private sector the price would eventually fall in line, and it would be reality based. It would be based on risk, region, and the potential for a real flood, overflowing river, early ice melt, tsunami, storm surge, or what have you. Insurance companies are not stupid, they do their homework. They use the same ERSI software that the GIS experts working in government and their consultants use. They also use the same map when it comes to probability and risk.

Okay so, perhaps you can understand why I find it fascinating that the government is raising prices when it provides the insurance, but wants to institute price controls further exacerbating the challenges they’ve caused by manipulating the free-market system when it comes to the Affordable Health Care Act. If you ask me this is a bit of hypocrisy, but that’s how government does things. Recently the Kaiser foundation had done a study about the increase in health care insurance plans, showing that they have and will continue to increase. How can they not, I ask? And Kaiser went mellow on the recent price increased and future estimated costs (I believe underestimating it all by a factor of 30).

Still, the government has told health insurance providers that they may not charge more than 20% for the administration of their healthcare plans, and they must spend at least 80% on actual medical services. Really? The government usually spends 45% of whatever it gives out in administration costs. Meanwhile the government tells the insurance companies how to run their business, using approved methods, designed by the same government which cannot possibly live with its own mandate of only 20% administration costs.

Why Are Payday Loans in Such High Demand?

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Published on: April 16, 2014

In an ideal world we like to think that everyone makes more than enough money each month to meet all their financial requirements and everyone knows how to budget and save. Also in an ideal world we can plan for everything that will happen to us, there are no unexpected financial shortfall, expenses or bills. Unfortunately we don’t live in an ideal world and sudden unexpected financial woes can turn our world upside down. As a result there will always generally be a niche demand for payday loans.Apart from the fact that unexpected financial burdens or shortfalls that do occur in our lives from time to time, there are many other good reasons why people still continue to seek out for payday loans. One alternative to short term funding via payday loans is to use credit cards. Although credit cards are a useful means of payment, there are many places that only accept cash payments and don’t accept credit cards. Hence cash is still king so if you live and work in Australia you will still need physical cash to get by. The good news is that in Australia you won’t have a hard time searching for a reputable payday loan lender that will offer you a loan when you need cash it in a hurry.The other attractive thing about payday loans, is that there are no prolonged waiting periods before you receive a formal notice of approval for your loan. In a lot of cases, you could even receive cash within 1 hour. And another bonus for payday consumers is that the loan can be released by the lender and directly deposited into their bank account without even the need of visiting the payday store.Here are most of the reasons why you still need to keep an open mind regarding payday loans, however caution is always wise:1. Payday loans can help when stores have no credit card facilities.Even in today’s economy credit cards are still not accepted at some merchant stores, who prefer to accept cash only. Or it could be that the emergency amount you need is greater than the limit on your credit card. So as useful as credit cards are in a lot of cases, payday loans are a handy compliment to have to help you with your financial situation.2. Payday loans can help with bills that fall due before your next pay day.Often we have due dates on our bills that fall due before our next pay day, especially if we get paid on a monthly basis such as a mobile phone bill, car registration, insurance premium or electricity bill. So to help us with our budgeting and to cover all the different bills that fall due at different times in the month, applying for payday loans are a convenient way to obtain funds to meet these demanding financial stresses in our lives. Payday loans could play the role of our pay day income before we receive our next pay packet to take care of bills that need to be paid immediately or a bill that unexpectedly pop up. In many instances the late payment or penalty charges on these bills could exceed the rates charged by payday lenders, so payday loans can be a solution of eradicating these existing debts. The attractive thing about payday loans is that you could have a cash payment of up to $2000 within the hour or paid to you the very same day or next week day once your loan is approved. The process of getting a loan approved for payday type loans requires no or little security, is hassle free and depending on which payday lender you submit your application with, they will even approve you for a loan if you have bad credit. The money can even be transferred directly into your bank account without you need to visit the payday lender.3. Payday Loans can help with maintaining a good credit profile.It’s not a good idea to make late payments on your credit card as a late payments could stay on your credit profile for 5 years and affect your credit rating. So if you have a minimum due balance you have to pay on one credit card, you can’t use another credit card to pay that due balance unless if you are doing a balance transfer from one credit card to another credit card. The solution to this could either be if you have a line of credit on your home to use that to pay your credit card balance or you if you don’t have a line of credit then you could apply for a payday loan. If you just use payday loans to pay off the minimum due balance on your credit card, it could help you keep your credit card balance current and to maintain a good credit rating with the banks and overall borrowing capacity.4. Payday loans can help with important things you don’t want to miss out on in life.Have you ever seen something you always wanted at the shops and it’s on sale but the sale is only for a limited time but your pay day is not until after the sale ends? Or have you got a birthday celebration that has arrived before your next paycheck? Or may a chipped tooth that makes you look unattractive if you walked into work with it. Or you might be stressed out at work and need to take a mini vacation before you burn yourself out. Are these things necessarily an expense? Perhaps not, but are they essential? Most would argue that they are. So for times like these, payday loans can help you not to miss out on the important things in life that you don’t want to say no to, delay or postpone. As you can see payday loans can help you take the stress out of life and to help you to maintain a healthy emotional balance besides helping you maintain a good credit profile and history.

Selecting the Right Home Insurance

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Published on: April 14, 2014

Home insurance is the single most important investment most consumers make after the purchase of their home. A home insurance policy can protect their home, possessions, and liability. When entering the world of home insurance it can be difficult and overwhelming to shop around for the best deals available. There are different types of insurance, different types of coverage, and different considerations for every family. Therefore, it is critical to understand the inner workings of the home insurance industry.Always Be On The LookoutWhen selecting what travel insurance is best for your home, consider looking over these helpful tips when dealing with this confusing subject:o Shop your insurance around – Ask friends, check online, or look into getting an insurance broker to find the best deals for you. Check consumer guides, companies and online insurance quote services. Check the financial stability of the company you are considering.o Buy your home and auto insurance from the same insurer – if you buy insurance from the same company, they will often take up to 15% off your premiumo Raise your deductible – the higher your deductible, the more money you can save on your premiums. Depending on your geographical region, your insurer can assist you in this process.o Prepare your home for disaster – Find out from your insurance provider what you can do to make your home more disaster proof. You may be able to decrease your insurance premiums by adding storm shutters or buying stronger roofing materials, for example.o Find ways to improve your home security – you can decrease the amount of your home premiums by adding simple things to your home like a smoke detector, alarm, or locks. Make sure you ask your service provider how to cut costs by installing simple itemso Always maintain a good credit ratingo If at all possible, stay with the same insurer – if you’ve kept your coverage with the same provider for several years, you may quality for a special long-term policy holder qualificationo Always take the time to review your insurance policy to see if it is still the right provider of insuranceHome Insurance CoverageThere are three main types of home insurance that are designed to provide you with the best possible coverage for your home. The three main types of coverage are property damage, personal liability, and home business.o Property damage coverage – property damage helps pay for damage to your home and personal property. Household furniture, clothing, and other personal belongings are also covered – however, be sure to review what items in your property are covered by your property coverageo Personal liability coverage – personal homeowner policies provide personal liability that applies to non-auto accidents if the injury or damage is cause by you, or your family. Liability insurance does not have a deductible, and you can request higher limits that are available for an additional costo Home business – you shouldn’t assume that your home coverage covers your home business. Always check to see if you are being provided with the right insurance coverage for your business. Your homeowner coverage may provide coverage – be sure to check.If you have questions about insurance for any of your possessions, be sure to ask your agent or company representative when you’re shopping around for a policy.

Top 5 Reasons to Avoid Payday Loans

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Published on: April 13, 2014

Payday loans are the cash advances for short period. They are usually projected in the lime light with many so called advantages such as fast processing and increased approval rate. It requires no collateral security except a postdated check, which is dated on your payday. And moreover, it is available for even bad credit people since credit checking is avoided in payday loan processing. But, these factors alone do not qualify the payday loan as a safe one. Many experts used to refer the payday loan as a culprit, which prey the people in financial crisis. They have sum-up the reasons substantiating the risk of payday loans to mainly five.The first and the most alarming reason behind the payday loan is the high interest rate. The payday loan is a characteristic unsecured loan with high interest rates than any other secured loan. But, the risk in the payday loan is that its interest rates are higher than even any other unsecured loans, which may be as high as 300%. The high interest rates will certainly be a burden for you since you are already in the crisis.Moreover the time available to repay the loan is also very short. You have to repay the total debt amount including the principal amount and the interest rate by the next payday. It will be a great difficulty as it can take up a lion share of your income. Then people will be forced to fall into the rollover loan, which is a bigger risk. The pending amount of the loan can be split into installments but the interest rate will be multifold and the late fees also will be charged. It will be in a sky rocketing pattern that will be hectic for a common man to manage.The security risk involved in the online processing is another reason to avoid the payday loans. You have to intimate the bank account number, social security number and other such financial and personal details for the loan processing. It will be like a suicidal attempt, if your vital information gets to any of the internet fraudulent. The unfavorable hidden terms in the agreement is an associated risk of the payday loan. Some would have included terms and conditions to automatically renew the loans or other one sided terms.The impact of repeated payday loan applications to the credit score is considered to be a risk that may result far reaching consequences. Even though payday loans are said to be fast processing, you have to meet the necessary requirements such as a checking account, and direct checks. If your payday applications are rejected, it may badly affect the credit report.The 5 reasons seem to be potential enough to ruin your financial stability. It is always better to avoid payday loan, if you have any other option. However, the availability of money at the right time of necessity should be certainly appreciated. Anyway, the hidden dangers behind the helping hand have to be assessed carefully before stepping in. The warning of the Consumer Federation of America (CFA), regarding the payday loans has to be taken seriously and based on the guidelines you can find secure payday loans.

Home Insurance – How To Lower Your Rates Considerably By Smart Shopping

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Published on: April 11, 2014

Extensive shopping will help you lower your home insurance premium by a great deal. Take some time out to shop around extensively. There are many ways you can do that.a) Make a few phone calls to your friends, relatives and acquaintances and ask them about their insurance company. Their experience with them and how much they pay if it makes sense to ask them. You can ask them to refer you to their home insurance agent if they are pleased with his/her services. However, make sure you do not just call one friend and then go with their agent (however good they claim such agents are). Get referred to several home insurance agents. Then get quotes from each. Pick the best three have some talk with them all. Decide on who offers not just the lowest price, but the best price to value ratio in home insurance coverage. This will take you quite some time. Thankfully, there’s a better way to do this and more thoroughly too (Check the last tip).b) Check the Yellow Pages. If you’re the kind of person who prefers talking on the phone, you can look for home insurance agents in the Yellow Pages, call them up and request quotes from them. The few problems with this is that you’ll spend quite some time and might not be able to count on the reputation of the agent as you would if they were referred.c) Call your state insurance department or visit their website online. They usually have resources that will help you get the best value in home insurance. They also advise you on how to go about your home owners insurance. Being better informed will definitely put you in a better position to realize more savings.d) Check consumer guides. They will give you an idea of price ranges in home insurance. This is apart from the fact that they will give you a few tips that will help you get the best value at the lowest price. This is so because they tell you insurers and agents who have the best prices in home insurance. However, since their figures are usually estimates or for a given profile, you’ll do well to still get quotes from more than just one home insurance agent or insurer. Doing this will ensure you get the very best price as you’d be given quotes for your exact profile.e) It’s not also out of place to call any home insurance agent you know and ask for a quote. What I don’t advise is getting just one quote. Get from at least five different agents, compare their prices and the quality of service they offer and you’ll get the best price/value.f) Get direct home insurance quotes from insurance companies. Get from as many of them as you have access to. Compare their prices and value and you’ll be on your way to making the biggest savings possible for your profile.g) Visit sites run by insurance brokers. You can get better quotes on home insurance today by visiting not less than three quotes sites. Visiting not less than three quotes sites increase the chances that you would receive more quotes.And, you should understand that because the likelihood of receiving lower home insurance quotes is tied to the range of quotes you get, the more insurers you obtain quotes from, the better your chances. Obtaining your insurance quotes online will help you save far more if you invest around 15 minutes to obtain quotes from not less than three quotes sites.

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