Personal Fitness Professional - June/July 2009 - (Page 16)

Health Insurance Choosing between plans and the importance of health care By Shelby Murphy However, is it necessary to insure yourself against every cold, every flu, every doctor visit or every wellness check? Most of us carry auto insurance in case we have an accident, but we don’t expect our policy to protect us against routine maintenance such as oil changes or a flat tire or even a transmission that needs replaced. There are some things in life that are too expensive to insure one’s self against because the likelihood of those things happening are pretty good. In the whole scope of things, these incidents aren’t that expensive, they won’t ruin your long-term financial plan, and they are definitely things you can budget for. Insurance was designed to protect you from events that have a low likelihood of occurring but if they did, they would derail you financially. Because these events are not likely to occur, they are not as expensive to insure against. How to Handle The one thing that can drown your independent spirit and entrepreneurial fire quicker than a subtropical monsoon is the prospect of providing your own health insurance. Being your own boss or setting your own hours sounds great — until the fear of an injury or disease going untreated takes hold. Like most fears, however, the fear of not being able to afford quality health care is based more on emotion than rational thought. Health Care vs. Health Insurance Notice 16 I said “afford quality health care” rather than quality health insurance. Think about that. What is it you want? Do you want health insurance, a piece of paper that says if anything happens, someone else may or may not pay for it depending on if you go to the right provider on the right day with the right ailment? Or do you want to ensure (or insure) that you and your family have access and can afford necessary health care? Health insurance is necessary, for sure. Tomorrow, if you were in a serious car wreck or were suddenly diagnosed with a long-term disease, either of those events would have a high likelihood of bankrupting you without insurance. Those unfortunate incidents are precisely why health insurance was such a good idea in the first place. june-july2009 · www.fit-pro.com Picking a Plan Remember the insurance company is just that: a company. It provides its products and services to make money — just as we trainers do. Unless the insurance company takes in more money than it pays out, it doesn’t make money. So all insurance companies work to create a system in which they charge far more in premiums than they pay out in benefits. To weigh the equation in their favor, insurance companies charge very high premiums for increased coverage (the more benefits you want, the more you’ll pay on the front end), and they work diligently to deny paying out benefits that don’t meet the exact terms of the contract. This is where it gets very expensive for the individual purchaser of health insurance. When you have an employer who pays for it all, these costs are invisible. They pack a bigger punch, however, when they come out of your own pocket. There are plans available to individuals that cover a few routine health needs, like doctor visits, and reduce the costs of prescription drugs, but they come at a much lower cost because additional coverage kicks in only when a high deductible is met. These plans, referred to as high-deductible health plans (HDHP) or “catastrophic” health insurance, now come with the added benefit of allowing you to save money in an account to pay for the high deductible. The health savings account, HSA, allows you to pay for current health expenses and save for future qualified medical expenses (including dental, chiropractic and orthodontics) on a tax-free basis. Best of all, rather than paying a steep premium, the money remains yours and is spent only at your discretion. An http://www.fit-pro.com

Table of Contents for the Digital Edition of Personal Fitness Professional - June/July 2009

Personal Fitness Professional - June/July 2009
Contents
Letter From the Editor, Writers
First-Class Management
Product Profile
You Are at Risk
Nutrition Solutions
How to Handle Health Insurance
How Much Should I Charge My Clients
Twitter This, Facebook That
Young at Heart
Be Better
Datebook
Hungry for a Franchise?
The Balancing Act
Exercise Spotlight
Journey to Success
New on the Market
[Facebook] PFP Fan Page: Sneak Peek
Fitness Marketing Makeover
Effective Sports Camps

Personal Fitness Professional - June/July 2009

http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2019summer
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2019winter
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2018fall
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2018summer
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2018spring
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2018winter
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2017summer
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2017spring
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20170102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20161112
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20160910
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_201606
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20160304
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20160102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20151112
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20150910
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_201506
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20150304
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20150102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20140910
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20140708
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_201406
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20140304
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20140102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20131112
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20130506
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20130304
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20130102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20121112
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20120910
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_201206
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20120102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20110910
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20110708
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_201106
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2011spring
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20110304
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20110102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20101112
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_201010
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20100809
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20100607
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_201005
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_2010spring
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_201003
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20100102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20091112
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200910
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200909
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200908
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20090607
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200905
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200904
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200903
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20090102
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_20081112
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200810
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200809
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200808
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200806
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200805
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200804
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200802
http://www.nxtbook.com/nxtbooks/rbpublishing/pfp_200801
http://www.nxtbookMEDIA.com