islamic banking and insurance london

islamic banking and insurance london
If you are between the ages of 50 and 65 and you are going to be looking for health insurance or are looking for health insurance you need some help. This is a tough age (of course what age is not starting with the terrible twos) because you are at a prime age to start developing health problems. Statistically speaking and statistics is the only language speak insurance companies, the insurance company can predict they are going to spend more on 50-65 year old than a 20-45 year old. For that reason premiums are much higher for the older person.

But we are a Baby Boomer smart group and where there is a will, there is a way. So let's look at some of the options:

If you currently have a job and to retire or start your own business, you have a couple of ways you can investigate. First, one can ask if your company allows you to buy health insurance through the company plan. If your company can do this your employer (assuming that we are talking about early retirement) may subsidize part of your premiums. If not, you still get groups that are a whole range of cheaper than individual rates. If you are married and your spouse is still strong pull to his plan, if this option is available to you.

The next option (if you currently have a job, sickness insurance) is COBRA, or Consolidated Omnibus Budget Reconciliation Act. COBRA may be former employees and their dependents of their employer group coverage for up to 18 months. The best thing about Cobra is guaranteed. Your former employer, the insurer, you can not turn on, even if you have a chronic illness. The worst thing about COBRA is cost. Your employer generally 70% or more of your health insurance premium. With COBRA you pay the entire premium and administrative costs. Industry surveys show, on the basis of an average premium (for 2007), a former employee would have to pay more than $ 373 a month for individual coverage and more than $ 1008 per month for family coverage.

If you are not currently in a business, health insurance, there are still opportunities for you. If you already have existing illnesses such as diabetes or hypertension, you can cover by a high-risk health program designed to help people with diseases that prevent them to insure. Even if the premiums as COBRA can be quite high.

You can also use the professional associations you could join or are already in connection with to see if the health insurance for the members. Since these are group plans, the premiums may be less than what you pay in each market.

Finally there is the individual health insurance option. There has been some progress in relation to the tenders for the age group 50-65 years of market mainly because insurers in this age as a potential growth market. Many baby boomers are in good health and have higher incomes than younger people. So insurance companies hope that Retirees will still purchase their products, such as Supplemental insurance, even after they're eligible for Medicare. Some of the premiums currently being offered can be as low as $ 200 per month for people who are in good health and are willing to pay a high deductible. Many insurance advice columnists recommend that a high deductible individual health insurance with a health savings account. HSA contributions are PRETAX dollars, and no money left in the account at the end of the year is rolled over for future use. Withdrawals are not taxed if they are for qualified medical care.

For more help in finding health insurance for over 50 years.

http://bestquoteus.com/bestquotes/health-insurance/health-insurance-over-50-and-below-medicare-age/

Article Source: http://EzineArticles.com/?expert=Marilyn_Katz

Marilyn Katz - EzineArticles Expert Author