Is Your Company Health Insurance Enough for You?

Does your employer provide health insurance? If the answer is yes - that’s great, but there are a few things you may want to consider in order to determine if your corporate health insurance plan is adequate enough to cover most or all of your healthcare related expenses. 

Health insurance is often offered by companies as an additional perk, and as such, rarely do we really look into what’s actually covered by our plan, or compare it with other plans.

While company-sponsored health insurance does provide us with access to superior care offered in private facilities (e.g. shorter waiting times and additional privacy), some group policies may offer only basic benefits with low limits or coverage elements, meaning that you may end up having to pay a large and completely unexpected out-of-pocket medical bill! 

This article by global insurance advisor Pacific Prime Singapore highlights the things you may want to consider in order to find out if your company health insurance is enough for you.

How protected are you?

Let’s face it, most people don’t apply the same degree of due diligence on health plans provided by their employers as they would on other plans. It’s a good idea to firstly find out what coverage levels are provided, these include:

Inpatient only: This is the most basic (and usually the cheapest) form of health insurance, and will cover hospitalization costs only. Any other expenses (e.g. visiting the GP) are not covered.

Inpatient and outpatient: With this type of plan, you’ll enjoy coverage for both inpatient and outpatient expenses.

Full coverage plans: If you’re lucky enough to be given a full coverage company health insurance plan, additional benefits such as coverage for dental care or mental health will also be included, on top of your inpatient and outpatient coverage benefits.

Coverage limits

To save on costs, companies will typically purchase group plans with low coverage maximums, meaning that once this limit has been reached, the patient could end up spending hundreds and thousands on treatment. 

For further peace of mind and to reduce financial risk, a top-up insurance plan is recommended for taking away that financial liability and adding additional coverage elements that your company health insurance may not have provided.

What about copayments and deductibles?

Employers may shift some of the company health insurance costs onto their employees by providing plans with high copayments and deductibles. This is because premiums on plans will tend to be lower when copayments and deductibles are higher.

Copayments are a fixed amount you agree to pay for every claim, and a deductible is an amount you will need to pay each year or for each claim. 

If your company health insurance copayment or deductible is too high, you may want to offset these risks with a top-up plan.

Pre-existing conditions

Another thing to be aware of is whether your company’s health insurance plan covers pre-existing conditions. Common pre-existing conditions include chronic diseases such as diabetes, asthma, and high blood pressure. 

Receiving treatment for these conditions can be expensive, which is why some plans don’t cover this or have limits that are too low to cover the bulk of the costs related to treating chronic conditions, meaning that employees may need to purchase top-up insurance.

Portability: does it cover you abroad?

How portable is your health insurance plan? Unforeseen accidents can happen anywhere, no matter how safe a country is, so it’s essential to be covered wherever you go. 

It is therefore essential to double check the regions covered by your company health insurance policy. Most plans will cover you in one region only, as they tend to be cheaper. 

People with local company health insurance policies will usually purchase top-up plans that provide international coverage, or purchase travel insurance every time they go abroad for additional peace of mind.

It can be confusing going through all the fine print of your corporate health insurance plan all on your own, which is why it often pays to talk to a trusted broker like Pacific Prime Singapore for additional advice.

About the author

If you are looking for the best value health insurance plans on the market, why not visit Pacific Prime Singapore’s Company Health Insurance Page to purchase your plan today? Their team of experienced insurance advisors offer a wealth of experience that you can rely on.

Random Philosophical Musings on Aging

One of the things about reaching senior years is that we don’t like to think about all those things we can no longer do or all the things we have left to do but little time in which to accomplish them. 

Our lives have been a whirlwind of activity in which we were always so busy that we really didn’t realize how quickly time was slipping away from us. Now, as our senior years are approaching, many of us begin musing on the meaning of life and why we age. 

Here are some random philosophical musings on aging which many of us face as those dreaded 60s approach.

Does Aging Serve a Purpose?

Some of the most revered ‘thinkers’ of our day have spent years pondering the purpose of aging. 

It doesn’t take having an online masters degree in philosophy to understand the importance of this question, although a degree of that nature does help us discover answers from some of the world’s greatest philosophers to have walked the face of the earth. 

Both Socrates and Plato were known to have philosophized on the nature of aging and both are often quoted as we try to make sense of this body that no longer works as it once had, or the mind that is still sharp, albeit slower to respond than it once had been. 

So, does aging serve a purpose from a philosophical vantage point? Some say it does.

Why the Musings of an Aging Philosopher Really Matter

When we are young, it seems as though we are always at the top of our game. There is little we don’t know, little we can’t do and God help the person who doubts our abilities and aptitudes. 

However, as we age we realize that there is so much more to learn because there is so much we don’t know. It is at this point that an aging philosopher can begin guiding the generation seeking the answers they once sought at that age and time.

These musings have meaning in that they are able to guide future generations in the mysteries of life. 

Science explains much but there is much more which science is unable to answer and here is where thought and matter converge.

A Generation of Aging Philosophers Is at the Door

Now, at a time when science is advancing faster than the speed of light, there is an entire generation of aging philosophers at the door listening to see what science can explain and waiting to fill in the gaps where science has no answer. 

These are the Baby Boomers of the late 1950s through the early 1960s, the biggest generation ever to age all at one time.

We are those aging philosophers who have yet to be heard. This is the time in our lives when things begin to slow and we have time on our hands to ponder all the things we were once too busy to see. 

Perhaps this is the time to join an online masters degree in philosophy program so that other, younger philosophers will be there to hear our musings and carry them forward through a time when most are still too busy to hear, too busy to think and yes, too busy to live. 

These random philosophical musings on aging are meant to be shared.

Home Renovations To Make Your Fixed Income Go Further

Living on a tight budget is challenging and even stressful at times, and you may be searching for every possible way to reduce spending. 

While eliminating your cable TV and buying generic food rather than name brand food are common solutions that those living on a tight budget pursue, another great idea is to make a few improvements around the house. 

These ideas will help you to reduce your energy costs and to save money over the coming years. While some will result in modest savings on a monthly basis, the total that you may save over the course of a year can be significant.

Replace Your Doors and Windows

Your home's doors and windows are more than just aesthetic features that enhance curb appeal. They also have insulating benefits that can minimize temperature transfer. In addition, some windows have UV protection that further prevent temperature transfer. 

You can learn more about the stylish features available for use in your home through specialty window and door companies, like Arch Design.

Replace Your Hot Water Heater

Another great idea is to replace your current hot water heater with a newer model. The best option for most homes is to use a tankless hot water heater. 

A tank-style hot water heater keeps water stored in the tank at a warm temperature, and this even occurs when no water is being used. As you can see, this wastes energy throughout the day. 

A tankless hot water heater is a better solution because it only heats water when it is needed, and this can reduce your energy consumption on a daily basis.

Invest in LED Lights

A significant amount of energy may also be used to light up your home. Different types of light bulbs use varying amounts of energy. LED lights are one of the most energy efficient options available. 

Plus, these bulbs last longer than traditional bulbs, which means you have less maintenance costs with them. If you want to save money on energy and on maintenance costs, you can exchange your incandescent bulbs with LED lights.

If you are ready to start saving money at home, you can consider implementing these ideas. Some may be done with a significant amount of up-front money, such as a water heater replacement. 

However, replacing doors, windows and light bulbs may be done slowly over time as your budget allows. As you begin to make these changes over time, you will begin to see an even greater improvement in your home energy bills.

How to Save Money on Big Family Meals over the Holidays

Gathering together with family is a fun way to spend the holidays. You can catch up on changes that have taken place during the year, meet new family members and enjoy the relaxation of not going to work or school for a short time.

One of the things that you might enjoy with the family is a large meal. Sometimes, that meal can be expensive depending on how many people are present. 

There are a few ways that you can save money on big family meals over the holidays so that you can stretch the love around the table instead of your money.

Coupons

One of the easiest ways to save money on items that are needed for a large meal is to use coupons. 

Most companies will issue coupons for the items that people use on a regular basis during the holiday season, such as chicken broth, sweet potatoes and vegetables, because they know that users will need these ingredients for the dishes that they prepare.

Try to combine coupons with sales to save the most money.

Hunting for Deals

Many people don’t often take the time to find stores that are offering special deals on various food and other items for their family meals. 

By doing so, it can save you a lot of money around the holidays. It will also help make your coupon usage more valuable and you may even get more coupons in return for future purposes. 

To be an effective shopper, you can’t just go out to the store and buy what you need. It often takes time, a lot of homework and research to make your shopping trips the most cost effective and finding out where you can save the most of your money.

Buffet Flat Bread Sandwiches 

If your family is like most, then you probably enjoy sandwiches of almost any kind as well as a variety of meats and cheeses. This is an easy option for the family to enjoy. 

You can often save money when you order a bulk supply of flat breads and other types of bread from companies like Klosterman Baking Company. Put ingredients for making the sandwiches in plastic containers along a counter so that everyone can get what they want.

Potluck

You might not know what everyone is bringing to the meal, but the advantage of a potluck is that you only have to make one or two dishes instead of everything on the menu. 

Each family would bring a dish or two that would be enough to serve themselves and everyone else. Make sure that there is a variety of side dishes and desserts to go along with the main meat that is served.

Not Having a Meal

If you really want to save a lot of money, then consider not having a full meal at all. You can prepare finger foods, such as cheese balls, sausage balls or small sandwiches, instead of spending an entire day in the kitchen preparing a large meal.

You'll save money by going this route because finger foods are often less expensive than the heartier items that are used in larger dishes.

When you enjoy a meal with the family for the holidays, you probably have a large spread of food on the table. This can cost good bit of money unless you share the expenses with everyone else. 

Another option is to go simple and provide fruit trays, vegetable trays and finger foods. As long as you're with family, even the smallest amount of money that is spent shows you care.

5 Tips For Making Smart Investments After Retirement

Once you have retired, the key to investment is protecting your nest egg. There will not be any time to make enough money to build a second nest egg. 

Therefore, it is not how you invest your money so much as what you invest your money in. With that in mind, the following are five tips to invest your retirement funds while protecting your money at the same time.

Park Your Money in an FDIC Insured Account

Any money that is not invested should be kept in a bank account that is insured by the Federal Deposit Insurance Corporation. There are other places to keep your money while not in use, a brokerage account is one example, but you want to have the security of a government backed account. 

Most commercial banks have accounts such as these. The State Bank of Cross Plains is one example. 

Buy Short-Term CDs

A certificate of deposit offers security and pays you interest on your deposit. You don't invest your money for too long a time, so your retirement funds are not tied up. 

You can determine what length of time is best for you, but a few months to a year is often a good choice for someone who is retired.

Invest In Stocks That Pay Dividends

The stock market can be risky, and for people with limited funds to invest, it may not make sense. However, if you decide to buy stocks, focus on those companies that are have a long track record of paying dividends. 

You are not looking to buy and sell stocks for a profit in your retirement years, but instead, are looking for a consistent return. 

Corporate Bonds

These types of bonds are a way for a company to raise cash. Some of them can be risky, but like stocks, you want to buy from large, established companies. 

You also want to buy short-term bonds since you are in retirement. You can also buy into a mutual fund that has a portfolio of corporate bonds. This takes much of the risk out of purchasing any single bond.

Delay Collecting Your Social Security

You become eligible for Social Security at age 62, but if you wait until age 65, you can collect your full amount. 

However, if you delay collecting your benefits until age 70, you will get an additional eight percent more in your check for each year after 65 that you delay filing for benefits. This is a large return on your investment.

The tips listed above should be helpful to you. In general, you need to focus on investments that offer security for your retirement funds.

Hillary Clinton & Financial Market Trading: Drawing Parallels to Help Us Trade Successfully

Hillary Clinton lost the 2016 US presidential poll. To many it was a shock loss, with the global financial markets reacting in horror to the news that Donald Trump had won the USA presidential elections. 

As far as the majority in the USA are concerned, Donald Trump deserved to win because only he can make America great again. Nonetheless, his policies on foreign nationals, immigrants, and people of other religions continue to worry the world, ergo, the financial markets. 

On the other hand, Trump's desire to spend millions of US dollars fixing the ageing infrastructure in the USA is good for the financial markets in the short-term.

The current levels of volatility in the financial markets

Where does this leave the global financial markets in the short-, medium-, and long-term? One thing is for certain, the current levels of volatility in the markets will continue and might even increase. 

In layman’s terms, there will be days when the markets are up and other days when the markets are down. The current levels of volatility in the markets are what is making online trading challenging.

Whether we like Hillary Clinton or not, I believe we have to admit that she put up a good fight. In fact, the expert opinion polls had pegged her to win by a reasonable margin. 

Unfortunately, the opinion polls were wrong, and the statisticians are still trying to work out where they went wrong. Consequently, the markets seem to be a bit wary of trusting the results of opinion polls at the moment.

Clinton and the financial markets

What does Clinton’s loss have to do with utilizing the binary options trading vehicle to save for your retirement? 

Well, she has made some powerful statements during, before, and after her campaign. 

For instance: I believe that we can draw strength from her words as we navigate our way through these stormy seas.

Try try and try again

According to Mrs. Clinton, there is no point in giving up. We need to keep on going and trying until you get it right. As a “newbie” trader or an experienced trader, there will be times when we make the wrong choices. 

Instead of throwing our hands up in horror, we need to go back and look at what we did wrong, learn from our mistakes, move forward, and try again.

Making the impossible possible

If we follow Clinton’s example, we will learn that it is important to keep on working on our business models until we succeed. It is important to keep revising it until it works. 

This point is particularly relevant to online trading in today’s volatile times. On the other hand, the good news is that if we partner with a reliable binary options trading broker, we will be able to reduce the risk of losing money because we made a wrong call. 

A world-class binary options broker will not only have state of the art binary options software, but they will also employ a highly skilled customer support team in order to help us trade successfully.

Fight fear

We all know that fear is a paralysing emotion that can prevent us from achieving our goals and dreams. Unfortunately, the older we get, the greater this fear can be. 

If we are nearing retirement and do not have enough invested to retire comfortably on, we will more than likely fall into this category of people. Because no one is really sure what the future holds for anyone, it’s easy to get stuck in a pattern of fear-driven behaviour. 

This fear will impact on every area of our lives, including our ability to place successful trades.

The good news is that a reputable, world-class online trading broker will have a comprehensive education centre consisting of a trading academy, advanced trading materials, and FAQs. They will also have expert financial analysts to help us analyse and make sense of the markets.

Final words

Hillary Clinton has drawn these quotes from the basic tenets of life. They are mentioned in all major philosophies pertaining to how we should live our lives. 

This is not to say that taking these tenets to heart and applying them in our lives is easy. All we can do is try, try and try again. Things will come right! I believe that we can draw strength from her words as we navigate our way through these stormy seas. 

But, we must not let sentiment cloud our judgment and should rather seek to adapt ourselves to these volatile ideological times by taking extra care in our attention to who we partner with in the business of binary options.