Any person, who has ever undergone a major surgery or was forced to spend several nights in a hospital bed, will likely remember the mountain of paperwork they had to fill out, in order to ensure their insurance coverage would be effective at the time of the procedure. At the same time, health insurance policies can be very complicated, and it is not uncommon for many individuals to be confused by their insurance provider’s explanation of benefits. Oftentimes, it is not until several weeks – or even months – later, when all medical bills are forwarded to the patient, that paperwork errors are finally discovered. Unfortunately, it usually also becomes more challenging to correct these errors after the bills have already been processed by your insurance provider. However, you may still be able to fix any discrepancies, as long as you keep a good record of all the procedures, tests and other medical services that were provided. In addition, there are several great tools that can make the process of managing all of your medical bills a lot easier and far less time-consuming.

• Managing your Medical Bills: Errors, Clerical Mistakes and other Discrepancies

According to the Medical Billing Advocates of America, as many as 80% of all medical bills contain errors and mistakes that ultimately lead to higher bills, as well as higher insurance premiums. The mistakes can range from double-billing for individual procedures, charging for exams with contrast when none was used, and even decimal point mistakes that convert a minor $100.00 dollar charge to a major $1000.0 expense. Furthermore, these mistakes will very rarely occur to the advantage of the patient, and hospital accounting staff members seems to be far more diligent when it comes to catching errors that go against their employer’s best interest. Consequently, checking the bills for clerical errors is the first, and the most important step of managing your medical bills.

• Claims, Billing Statements, and Explanation of Benefits: What is the Difference?

Currently, when any medical service is provided to a patient that has health insurance, the billing is usually forwarded directly to the insurance provider that settles the claim, and the patient may – or may not – receive a billing summary from the insurer. However, the summary will only serve as the explanation of covered benefits, and will not be the bill itself. For example, if your insurance decides not to cover certain procedures, they may notify you about it, but you will not be liable for any remaining balance until you receive another bill directly from the medical provider. However, it is still important to check the bill received by your insurance company for any errors, and you should request a statement listing all of the services provided on the specific date in question. You should then compare this list against the report you receive from your insurer, checking for any discrepancies in terms of care received or dollar amounts charged. It is also important to keep these statements together with your personal medical record, in case you need to dispute any claims several months after the medical services have been rendered.

• Taking Advantage of Online Services Provided by your Health Insurance Company

Many health insurance providers in the United States including all the major providers, now offer online services to their clients that allow them to check the status of their claims from their home computers. In most cases, you will first need to make an online account using the insurance information from your card. Once that is all done, you will be able to access the list of currently pending claims, as well as those that have already been settled with the medical provider. However, you must realize that it can often take several weeks for the provider to notify your insurance about any services you have received, and the claim information will not be immediately available.

• Other Management Tools Available Online

In addition to the services provided directly by your medical insurance company, there are several apps that can help you manage your medical bills. One of the more popular ones is Simplee – a free online service that can act as a database of medical records, claims and other insurance information. The service is also able to automatically spot errors such as duplicate entries, or eligibility issues, as well as predict your insurance coverage for specific treatments. Although the service was introduced only two years ago, it has rapidly grown in popularity, and – especially considering its automatic error detection – its number of users is only expected to further increase in the future.

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Renting a home can have the same risks to an occupant as owning a home. And while homeowners insurance is definitely a requirement for anyone who owns a home, many people struggle with whether they really need renters’ insurance. And they most often aren’t sure whether they need it due to the cost of coverage.

Those who rent their homes often view the cost of renters insurance as another bill to add to those they already have to pay. For example, when moving into a new home, a tenant may have to pay first and last months’ rent, in addition to a security deposit and perhaps even deposits to initiate the turning on of utilities. And this is in addition to any moving costs the renter may have incurred. So the fact that there are many renters out there without insurance coverage is definitely understandable.

But what many renters don’t realize is how having insurance coverage can benefit them. In fact, the benefits of having coverage can far outweigh the costs that a renter may pay each month in order to be covered.

What Renters Insurance Protects

Many renters believe that the insurance coverage their landlord has will be enough to cover them. Not so. The coverage held by a landlord only covers the rental unit itself and the property the unit sits on. Their insurance will not cover any damage to your personal property. Without renters insurance coverage, any damage incurred to your belongings due to theft, vandalism, or something another tenant does to it will not be covered.

More Than One Option

What is listed as a definite benefit for most renters is that renters insurance is available at several different price levels. Flexible options mean that you as a tenant can choose the level of coverage that’s most affordable for you. With a policy, you can ensure that your property is protected and that you receive either full replacement cost or depreciated cash value, depending on the item or items damaged.

Don’t Be Underinsured

Having an inventory of the items you own is crucial in order not to be underinsured. Your policy’s rate will depend on the type and value of your items. Any inventory should include the price, condition and appraisals of items. Keeping all receipts for items you’ve purchased in a single and safe place will be crucial to getting any claims settled in a timely manner.

Liability protection is another type of coverage that every renter would do well to consider, which will usually cover up to 50% of the policy’s total value. As well, additional coverage can be purchased in order to protect you in the event that something happens to your home that requires you to move out for a temporary period of time. This will allow you to meet daily needs such as doing laundry and paying for temporary accommodations.

Limited Coverage

One disadvantage to many renters’ insurance policies is the amount of coverage you receive. It is true that the onus will be on the landlord where damage occurs to the rental dwelling itself. However, this coverage may not extend to the interior of your dwelling. And so checking your policy is crucial. If your landlord’s insurance only covers the outside of their property, then getting renters insurance will be important.

Another limit on renters insurance is water damage. Questioning your water damage coverage is definitely important. If water damage was caused from below the property where you are renting, then any damage will likely not be covered. But if the damage occurred from above, such as because of a leaky roof, then it’s likely to be covered.

When deciding on whether or not you need renters insurance, it’s important to remember that even a small number of possessions can quickly add up in terms of dollar value. And although you will have to pay a deductible before being reimbursed by an insurance company, having coverage will help you to replace your lost or damaged items more quickly and easily than if you had to do it all on your own.

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Cars mean something to all of us. If you’ve been lucky enough to get your hands on a luxury vehicle or sports car, the feeling you may use to describe them would most likely be along the lines of pure joy and euphoria. However if you’re driving a clunker from 80’s you probably swear at your car more than the participants of a typical episode of the Jerry Springer Show.

If you’re in the market for a new car, some of your time has probably been spent pondering over whether to buy or lease. Here’s some more information on buying versus leasing, including the advantages and disadvantages of each:

Buying:

Some may argue that the best option may be to buy new and look after the vehicle well until the last payment is made. At this point instead of selling, you keep the vehicle. The idea is that because the car is well looked after, maintenance costs are reduced throughout and after the vehicle is paid off.

The benefits of buying:

• Even though the car is registered in your name, the bank technically owns the car until you pay the last instalment. However at the end of the period you will have an extra asset under your belt.
• When you buy a car, insurance companies view you as lower risk and the monthly payments you’ll need to make will be lower.

Disadvantages of buying:

• Monthly payments are typically higher when buying the vehicle.
• When buying, the dealership will require a deposit or down-payment, which means that the initial cost when buying is considerably higher.
• If you buy, payments are amortized over a 48 – 72 month period and take the entire cost of the vehicle into account.
• Cars generally lose some of their value in the first couple of years to depreciation. However if the payment plan is taken over too long of a term then there’s a chance that you could end up owing more than the car is worth.

As with other loans payments are divided between capital and interest.

In the first couple of years paying your car back, more of the payment goes toward interest than capital.

*Leasing:

With this option you’re essentially renting the car for a fixed period (usually 36 – 48 months).

The amount you lease a vehicle for is determined by the difference between the purchase price and residual value, which is the pre-determined value of the vehicle at the end of the lease.

Benefits of leasing:

• When leasing, the initial costs that you incur when acquiring and maintaining the car are less.
• Monthly payments are much lower and leases require less of a deposit than purchased vehicles.
• When you buy a car you pay for depreciation based on entire value of the vehicle. However when leasing you only pay for the use and depreciation of the car for a set period.

Disadvantages of leasing:

• Most leases also come with mileage restrictions which means you’re only allowed to do per year (usually around 12 000 miles a year). If you exceed this, you pay more at the end of the lease.
• Insurance providers may also charge higher premiums for leased vehicles.

Pre-owned vehicles are another option worth looking into. For example vehicles that have been returned after expired leases can be bought for substantially less than their brand new counterparts.

This article was written by Daniel Stevens who is a fan of the great outdoors and when he’s not writing up a storm 😉 – that’s where you’ll find him.

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Personal injury lawsuits are among the most common legal proceedings in America. In fact, legal blogs report the staggering statistic that a new personal injury claim is filed every two seconds. While some describe personal injury lawyers as “ambulance chasers” and assume they are creating legal issues where none would exist otherwise, most personal injury lawyers are not overly-litigious.

Personal injury lawsuits can take several forms, and attorneys assist their clients in receiving compensation for damage to personal property, inconvenience or injury stemming from defective products and physical and psychological injuries affecting the body. By far, the most common type of personal injury lawsuits are those dealing with physical injuries to the body. Personal injury attorneys assist average people facing uncomfortable, painful and debilitating personal injuries in receiving the compensation they deserve. Below are three of the most common personal injury claims.

Back injuries resulting from an automobile accident

Car accidents happen every day, ranging from minor fender-benders to serious, even fatal, crashes. In fact, there are more than six million automobile accidents recorded annually in the United States. Most people will be involved in a car accident at some point in their lives, and many of them will experience some time of physical injury due to the accident.

The impact of a car crash and the strain it puts on the human body is most often absorbed in large part by the body’s core, including the back. Many times, back injuries sustained during car crashes show no immediate symptoms. Rather, the pain and discomfort begin to manifest hours, days or weeks later. Common back injuries sustained in car accidents include sprains, fractures and slipped discs.

Slip and fall injuries

Commercial businesses and homeowners alike know the importance of maintaining safe conditions for family, friends, neighbors or customers. Still, over seven million slip and fall accidents are reported each year in the U.S. An astounding 20,000 people die annually from injuries sustained in these types of accidents. Slip and fall injuries are common because they can happen anywhere from the grocery store to a school to an apartment complex.

Slip and fall injuries often result in broken bones in the extremities, as well as in head wounds. While many slip and fall cases wind up in court, it can be difficult for a plaintiff to prove that the defendant was negligent and failed to remedy an unsafe situation. Sometimes, accidents just happen and no one is at fault.

Work-related injuries

With so many Americans spending the majority of their days at work, the workplace is rife with injuries. Last year, the Bureau of Labor Statistics reported more than three million work-related injuries, and the actual number is estimated to be much higher since many employees fail to report their injuries for fear of retaliation.

Most often, work-related injuries are not one-off, traumatic injuries that take place in a matter of seconds. Rather, work-related injuries often stem from repetitive motion that causes undue stress on a particular part of the body. Carpal tunnel syndrome is, perhaps, the most well-known repetitive stress injury, but back and neck injuries resulting from frequent lifting are also common.

If you find yourself suffering any of these common injuries, you may wish to consult a personal injury attorney. If you find yourself on the receiving end of a personal injury claim, you may be forced to pay financial compensation. In either case, it’s important to know your rights and to seek out appropriate legal representation when necessary.

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During an economic recession, everyone realizes the importance of cutting back on expenses. However, many people think that cutting expenses is a lot easier said than done. Cutting back your expenses is never easy, but it is not an impossible task either. Here are 5 amazingly helpful and practical tips on how to reduce personal expenses.

Carpool to work

What is the one thing whose price just keeps going further up and will continue to do so beyond the foreseeable future? That would be gas prices. Simply by cutting down on how much gas you pump in your car you can end up saving a huge chuck of your monthly expense. The best way to do so is to start carpooling. In tough economic times, there will be others in your workplace looking to carpool and save gas money.

Don’t eat out as much

It is amazing how much money we end up spending while eating out. It may not seem like much, especially at the fast food joints. But it all adds up at the end of the month. Try to cut back on dining out. Packing a lunch for office everyday can save a lot of money in itself. Cook more frequently and stop depending on the take-out menus. Besides saving money, knowing how to cook is an essential skill that everyone must know. Save the dining out for special occasions only.

Create a budget and stick to it

We have all tried to do a bit of financial planning in our heads when stuck in traffic. However, once the vehicle starts moving, all our bright financial plans get blow out the window. Sit down and make a proper budget for your household expenses. List all you monthly and annual expenses, including financial obligations. Create a budget so that you can meet the essential expenses without having to stretch your budget. Of course, there is no point creating a budget if you don’t stick to it. Use cash for all your expenses instead of using credit cards; it’ll help you stay on budget.

Reduce household energy consumption

One of the biggest expenses for everyone is the monthly energy bills. Reducing the amount of energy used in a household can have a massive effect on how much the homeowner can save. Ideally, you would want you entire house to be powered by solar or wind energy, but that is not a financially feasible option for most of us. Simple practical solutions, such as using energy-efficient light bulbs and ensuring the house is properly insulated, can help you save bundles of cash every month.

Get your insurance premiums lowered

Along with energy bills, another major monthly expense is the premiums for car, home, and medical insurance. You jolly well cannot stop making monthly payments and let your insurance lapse. What you can do, is shop around for insurance quotes. When your coverage period comes to an end, look for insurance quotes that offer you the same level of coverage, but for lower premiums. There are websites that allow you to compare and shop for home and auto insurance online, so being lazy is not an excuse.

The 5 helpful tips mentioned here are very practical, even in times of recession, and nobody should have any trouble following them.

This post is contributed by Andrew Hopes. He helps provide useful financial tips and strategies and has found great use of payday loans for a quick relief from all the financial problems.

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