How to Choose a Health Insurance

These days, landing in the hospital for even a few days can decimate your savings account. That's why it's extremely important to consider the cost, the benefits, and the extent to which your family's health needs are met when choosing insurance. Research the various plans that are available, and determine how specifically tailored they are to your family's health needs and financial abilities, to decide on a plan that is best suited to your lifestyle.

Instructions

• Sign on with the health insurance provided by your employer: It is likely to be the cheapest option you can find. Your employer's carrier may have more than one option for you to choose from (HMO, preferred). If you're self-employed or if your company doesn't offer insurance, you'll have to search for your own insurance.

• Assess your needs, taking into account your current use of health care and your medical expenses for the near future, and decide what services are most important to you and your family. Ask about dependents' coverage. Factor in how much you can afford to spend on monthly premiums and co-payments. If you're single and healthy, your health plan needs will be very different from those of a family with three young children.

• Compare benefits and coverage of key items like monthly premiums, deductibles, co-payments, co-insurance rates, costs for seeing out-of-network providers, preventive care, physical exams, immunizations and the like. Other services that are of interest to your family could include fertility services, mental health coverage, nursing care and long-term care.

• Ask lots of questions: Are your current providers part of this plan? Do you need referrals for specialist visits? How easy is it to change doctors? What hospitals and facilities can you use as part of the plan? What are the procedures for having emergency room treatment approved?

• Find out if benefits are limited for preexisting conditions, or if you have to wait for a period of time before you're fully covered. Some plans may completely exclude coverage of preexisting conditions.

• Research whether there is a fair appeals process available if the company denies treatment, and if these appeals are reviewed by an external, independent agency. Is there a high turnover rate among doctors in the plan? Check if the National Committee for Quality Assurance (NCQA.org) accredits the plan; the Pacific Business Group on Health (HealthScope.org) also offers information on health plans.   

• Pick a plan that best matches your needs and priorities based on thorough research. Read all materials and call the health plan representative or conduct Internet research to get any information you are missing. Discuss pre-existing conditions and flexspending plans before making a decision. 

• Investigate long-term care insurance. The rising cost of health care and elderly care can demolish your savings if you are incapacitated for long. The best time to buy it is when you hit your 40s.

 Tips & Warnings

• If you're switching plans through your employer, ask when the next open enrollment period will occur. Give yourself at least two months in which to conduct and complete your research of health care options.

• If your employer doesn't provide health insurance, investigate professional associations that offer members the opportunity to join a health plan.

• Take into consideration any upcoming medical expenses, such as surgery, dental work or a new baby.

• Take convenience into consideration: Will you have to file claim forms? How close are doctors, hospitals and pharmacies to your home? How often are you permitted to change doctors? Ask if a telephone nurse advice line is offered, particularly if you have young children who tend to get sick at odd hours.

• Find out if the plan you're reviewing surveys its members to determine how satisfied they are with the services provided. If it does, ask for the information. See how member satisfaction rates. You should also take note of whether the plan offers a toll-free number for assistance. Test it out before you join.

• Ask your primary care physician how easy it is to get referrals for specialists on certain plans. He or she can also tell you how easy it is to find a specialist, which hospitals and types of preventive care the plan covers, and what the claims and utilization review process is like.

 
Source : http://www.ehow.com/

Review AIG Insurance

AIG’s General Insurance operations include the largest U.S. underwriters of commercial and industrial insurance, the most extensive international property-casualty network, a personal lines business with an emphasis on auto insurance and high-net-worth clients and mortgage guaranty insurance operations. AIG’s leadership is a result of its underwriting skill, innovative insurance solutions, financial strength, superior service and responsive claims handling. The AIG claims operation gives clients access to a vast worldwide network of dedicated experts and top legal firms.

AIG is a publicly traded insurance group, with a holding company structure, headquartered in New York City and operating in the United States and internationally. AIG is a world leader in international insurance operations, doing business in more than 130 countries and jurisdictions through more than 100 U.S. and foreign subsidiaries. AIG companies serve commercial, institutional and individual customers for property and casualty insurance, life insurance, retirement services, financial services and asset management services. The four main areas of business are General Insurance (commercial, industrial and personal lines of property and casualty insurance as well as mortgage guaranty business), Life Insurance and Retirement Services (individual and group life insurance and fixed and variable annuities), Financial Services (aircraft finance, capital markets services, consumer finance and insurance premium finance) and Asset Management (institutional, retail and private fund management). Foreign operations accounted for about 50% of total revenues in 2004. Life Insurance and Retirement Services accounted for about 51.5% of 2004 operating income, General Services about 19.7%, Financial Services 17.1% and Asset Management 11.7%. AIG has about 92,000 employees.

AIG’s operations developed out of the insurance agency interests of C. V. Starr in Shanghai in 1919 and several subsequent acquisitions and consolidations of property and casualty and life insurance companies in the U.S. and abroad.

Problems with regulatory and accounting issues are being dealt with by new management installed during 2005

AIG’s General Insurance segment includes many lines of business written by many AIG companies in the U.S. and internationally, but workers’ compensation business is the largest class of business written here and represented approximately 15 percent of net premiums written for the year ended December 31, 2006. During 2006, 8 percent and 7 percent of the direct General Insurance premiums written were written in California and New York, respectively. No other state accounted for more than five percent of such premiums. Within General Insurance, an operation called Domestic Brokerage Group (DBG) conducts business within the U.S. and Canada and accounted for 54% of AIG’s net premiums written in 2006. DBG writes substantially all classes of business insurance through insurance brokers. DBG also provides numerous specialized forms of insurance and various risk and environmental products. A reinsurance subsidiary owned 59.2% by AIG is also included in General Insurance. AIG’s personal lines operations provide automobile insurance through AIG Direct, a mass marketing operation, the Agency Auto Division and 21st Century Insurance Group (21st Century is 61.9% owned by AIG) and provides coverages for high net worth individuals through the AIG Private Client Group. Residential mortgage guarantee insurance (both in the U.S. and internationally) and Foreign General Insurance make up the rest of the General Insurance segment of AIG’s business.

AIG’s Life Insurance & Retirement Services Operations segment provides insurance and retirement savings products both domestically and abroad. These include individual and group life insurance, annuities (including structured settlements), endowment and accident and health policies and retirement savings products (especially fixed and variable annuities). The foreign life insurance subsidiaries of AIG operate through more than 270,000 full and part time agents as well as independent producers selling to indigenous persons in local currencies as well as through direct marketing channels, brokers, financial institutions and other channels. The domestic part of AIG’s Life Insurance & Retirement Services business operates through multiple distribution channels including independent producers, brokerage, career agents and banks to sell life insurance, annuity, accident and health products and services and financial and investment products. In 2006, AIG’s Life Insurance & Retirement Services premiums came 78% from foreign operations and 22% from domestic operations.

AIG’s Financial Services Operations segment is engaged in activities that include aircraft and equipment leasing and various types of financing.

AIG’s Asset Management Operations segment includes a variety of investment related services and investment products including private banking and mutual funds.

Principal Methods: AIG sells insurance via www.aigdirect.com and also through it's agency company 21st Century.

AIG’s Life Insurance & Retirement Services Operations segment provides insurance and retirement savings products both domestically and abroad. These include individual and group life insurance, annuities (including structured settlements), endowment and accident and health policies and retirement savings products (especially fixed and variable annuities). The foreign life insurance subsidiaries of AIG operate through more than 270,000 full and part time agents as well as independent producers selling to indigenous persons in local currencies as well as through direct marketing channels, brokers, financial institutions and other channels. The domestic part of AIG’s Life Insurance & Retirement Services business operates through multiple distribution channels including independent producers, brokerage, career agents and banks to sell life insurance, annuity, accident and health products and services and financial and investment products. In 2006, AIG’s Life Insurance & Retirement Services premiums came 78% from foreign operations and 22% from domestic operations.

Life Annuity Business: AIG’s Life Insurance & Retirement Services Operations segment provides insurance and retirement savings products both domestically and abroad. These include individual and group life insurance, annuities (including structured settlements), endowment and accident and health policies and retirement savings products (especially fixed and variable annuities). The foreign life insurance subsidiaries of AIG operate through more than 270,000 full and part time agents as well as independent producers selling to indigenous persons in local currencies as well as through direct marketing channels, brokers, financial institutions and other channels. The domestic part of AIG’s Life Insurance & Retirement Services business operates through multiple distribution channels including independent producers, brokerage, career agents and banks to sell life insurance, annuity, accident and health products and services and financial and investment products. In 2006, AIG’s Life Insurance & Retirement Services premiums came 78% from foreign operations and 22% from domestic operations.

Auto Business: AIG’s General Insurance segment includes many lines of business written by many AIG companies in the U.S. and internationally, but workers’ compensation business is the largest class of business written here and represented approximately 15 percent of net premiums written for the year ended December 31, 2006. During 2006, 8 percent and 7 percent of the direct General Insurance premiums written were written in California and New York, respectively. No other state accounted for more than five percent of such premiums. Within General Insurance, an operation called Domestic Brokerage Group (DBG) conducts business within the U.S. and Canada and accounted for 54% of AIG’s net premiums written in 2006. DBG writes substantially all classes of business insurance through insurance brokers. 

DBG also provides numerous specialized forms of insurance and various risk and environmental products. A reinsurance subsidiary owned 59.2% by AIG is also included in General Insurance. AIG’s personal lines operations provide automobile insurance through AIG Direct, a mass marketing operation, the Agency Auto Division and 21st Century Insurance Group (21st Century is 61.9% owned by AIG) and provides coverages for high net worth individuals through the AIG Private Client Group. Residential mortgage guarantee insurance (both in the U.S. and internationally) and Foreign General Insurance make up the rest of the General Insurance segment of AIG’s business.

Source : http://insurance.freeadvice.com/