Hidden costs of health insurance

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Information about Hidden costs of health insurance
Health & Medicine

Published on March 17, 2014

Author: andersonlaw

Source: slideshare.net


Do you know the ins and outs of your health insurance policy? Find out what you can do to avoid spending more than you have to on health expenses!

THE HIDDEN COSTS OF HEALTH INSURANCE by Anderson Law www.andersonlawwa.com

HIDDEN COSTS If you have health insurance, you are fortunate. However, if you work for a large, multi-state employer, a recent Supreme Court ruling could prevent you from recovering compensation for your damages if you are injured in a car accident. How is that possible, you wonder? www.andersonlawwa.com

HIDDEN COSTS The Supreme Court of the United States has just reaffirmed the ability of a federally regulated ERISA health plan (Employee Retirement Income Security Act) to write a contract that requires you pay the plan back every dime they paid out in benefits, which can include every dime you receive from the person that crashed into you. For the ERISA insured, health benefits are a loan against third-party recovery; in this context, this means that the ERISA insured are worse off than those with state-regulated health insurance. www.andersonlawwa.com

HIDDEN COSTS You should know that if you prepare, you still may be able to recover in the case of a third-party injury. Just make sure that you have more than ample insurance coverage. In addition to high automobile limits, I recommend you purchase an umbrella policy. With this extra insurance, you will preserve your ability to recover your damages in spite of the harsh terms of the contract you likely never read and almost certainly never negotiated. www.andersonlawwa.com

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