Modern Insurance Tips For 2012

Many people don't realize this but you can consolidate your insurance policies, such as your car and homeowner's insurance to the same company. Most insurance companies will give you a discount on both policies for doing this and you can save anywhere from 5% to 20% on your insurance just by doing this.
Thoroughly read your insurance policy, and do so several times. Many people do not bother reading their policies at all before they sign them, and later find out that they are overpaying, or that their policy was actually inadequate concerning important coverage details. Paying special attention to detail when reading through, can help prevent this.
Find an insurance broker who works with several major, reputable companies. These professionals, after reviewing your records, can compare different companies' offers and can choose the best coverage for the best premium. Some of these brokers continue to shop around for you and switch your carrier when another company offers the same coverage for a more reasonable premium. He or she can can also help advise you on factors that you may not have even considered or that are too technical for a layman to understand. An insurance professional will review your finances, risk areas, age and family status, to help you pick the right levels of coverage.
Ask if yo your insurance covers you personally or professionally. You may have the finest auto insurance in the world, but they may not cover you if you use your vehicle for part-time jobs like pizza delivery. Likewise, if you are self-employed, does any liability coverage in your homeowner's or renter's insurance cover you in case of professional malpractice? Don't assume one kind of umbrella protects you from all kinds of rain.
Deciding the right type of insurance to make is a tough decision but what you have to keep in mind is that if you explore all your options then you'll have a better time making that decision. Check out insurance from all types of businesses and see which suits your needs the best, it's the only way to ensure you'll be getting the deal you want.
If you are a member of a union or other important group, make sure to tell your insurance agent. Many insurance companies will offer steep discounts for certain groups, so you should ask your agent if yours does as well. You do not want to miss out on taking advantage of great benefits.
Insurance can be incredibly confusing. Hopefully, the tips on this site have helped you better understand how to buy insurance the right way. Apply the tips you have learned today to get your insurance situation under control. Do not make your insurance any more confusing than it has to be.

Joe is a freelance consultant that periodically writes different Insurance related articles in the field of Professional Liability Insurance as well as truck insurance, Medical Malpractice Insurance, web development, marketing and various other topics. If you'd like to learn more about professional liability or medical malpractice insurance please click on the active links to go to their website.

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Tennessee Health Insurance Tips For Employers 2012

According to the 2011 survey conducted by the Kaiser Family Foundation, there was a 118 percent increase in the average family premium for covered employees of large businesses and a 103 percent increase for small business firms noted over the past decade. The survey revealed that in Tennessee, only 51 percent of businesses offer health coverage to their employees. The main reason not all businesses are providing health benefits to their workers is because the increasing cost is too much to handle.
However, there are two great tips that employers can utilize to reduce their health care costs and bring down Tennessee health insurance premiums.
Health Savings Accounts And Health Reimbursement Arrangements For Employers
The first tip that employers can use is to look into Health Savings Accounts (HSA). Health Savings Accounts were first introduced to the market in 2004. To set up an HSA, you need a qualified high-deductible health plan. Individuals must have a deductible of at least $1,200 while family coverage must have a minimum deductible of $2,400. As for the cost of HSA plans, premiums have risen at a rate of one third to one half that of traditional Tennessee health insurance plans.
In a study conducted by United Benefit Advisors, in 2005 alone, more than 12,000 employer-provided health insurance plans were released. The study also pointed out that the cost of all health plans combined increased an average of 9.6 percent, while only a 3.4 percent rise was seen for HSA plans.
A similar survey was done by the Deloitte Center for Health Solutions the following year and results show that from 2004 until 2005, the cost of Health Savings Accounts rose by an average of 2.8 percent compared to a 7.3 percent increase for all health care plans combined.
Health Savings Account plans also extends its help to employees when it comes to out-of-pocket costs linked with the plans' deductibles. Many employers are discovering that they are allowed to fund their employees' HSA plans with the money saved on HSA plan premiums. The money your employer places in your savings account is forever yours whether you leave or lose your job. You have the option to withdraw your HSA dollars tax-free to pay for qualified health care expenses. You may even simply grow your HSA and use the funds when you retire.
The second tip for employers is Health Reimbursement Arrangements. This is not relatively known, but it can help increase tax savings. When you have an HRA, employers can reimburse you for medical care costs such as dental and vision services. TN health insurance premiums can also be reimbursed. With an HRA, more health care expenses can be deducted from your annual tax income than would otherwise be allowed.
You are allowed to combine a Health Reimbursement Arrangement as long as you do not use it to reimburse expenses meant for Health Savings Accounts. The deadline to establish an HRA to make the 2012 tax deductions is on December 31, 2011.

By Wiley Long - President, eTNHealthinsurance.com - Tennessee's best online health insurance agency specializing in Tennessee Individual Health Insurance plans. We have personal advisors to help you with your Tennessee Health Insurance needs. Get online Tennessee Health Insurance quotes, compare plans, get personal assistance, apply online, and Save!

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