5 Tax Mistakes to Avoid in Retirement
Even great savers can reduce their retirement income by making these mistakes.
Even great savers can reduce their retirement income by making these mistakes.
If you want to work from home, these companies regularly hire remote employees.
The following is a guest post from Dr. David L Tuyo II, president and CEO of University Credit Union. While there is rampant fear and caution against a global economic downturn due to COVID-19, this does not mean that every individual will be hit as hard as the next. Certainly, there has been and will… Read More
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The time has finally come: youâre ready to retire. For many, this means living off savings or social security, but in reality, now that youâre unemployed itâs time you started making real money. Investing after retirement is a great way to continue making income, cover expenses in lieu of a regular paycheck, and stay plugged… Read More
The post 15 Reasons to Invest After Retirement appeared first on Credit.com.
Did you need to undergo a medical procedure such as an MRI or a CT scan? If so, your insurance provider may require a referral or pre-authorization from your physician.
Even if the facility agrees to provide the procedure without a referral or pre-authorization, your insurance provider may not agree to cover the cost. To rectify the situation, see if your doctor can reach out to your insurance carrier and let them know about ordering the procedure for you. (Physicians and other healthcare specialists using services like Fortis Medical Billing may have an easier time working with your insurance carrier.)
Even with proper pre-authorization or a referral, you must check with your insurance provider or look over your policy to ensure your plan includes the procedure. Even if your carrier previously covered the procedure, your latest plan may not include it.
Something else to double-check on your insurance plan is whether the provider you want to see is in your current provider network.
Provider networks are common for exclusive provider organizations and health maintenance organizations. If you do not use an approved provider who agrees to your carrier's payment terms, your insurance carrier may deny your claim. Occasionally, insurance companies will accept a claim from an out-of-network provider, but you may have to pay a higher percentage of the costs than you normally would.
If you want to have the option of using out-of-network providers, ask your current carrier if you can include out-of-network benefits on your current health insurance plan. That way, you receive non-emergency and/or elective treatment.
A clerical error on your part may be the reason for your denial. Check to see whether you listed your birth date, name, address, and all other personal information correctly on your claim. If you notice a typo, reach out to your provider's customer service department to correct it.
Perhaps the mistake was your doctor's and the wrong insurance carrier received your claim. This sometimes happens if you go to a doctor or another healthcare provider you have not been to in a while. They may have outdated or inaccurate policy information on file.
Do you have multiple health insurance policies? Maybe you and your spouse have separate plans through your employers but see the same physician. If so, your doctor may have sent the bill to your spouse's carrier rather than yours.
If your physician billed the wrong provider, see that the office sends the bill to the right company as soon as possible. Waiting too long could result in a denial because the bill did not arrive on time to qualify for approval.
Another reason insurance companies deny claims is that they do not feel the requested service qualifies as medically necessary. Even though you may need a procedure, treatment, or service, you may have to make your policy provider understand why you need it.
Team up with your doctor to supply your carrier with adequate evidence of your medical need. Also, ask yourself if you truly need the service to improve your health or if you only want the service for vanity or nonessential reasons.
Insurance companies are a business, which means they want more money coming in than they do funneling out. If you opt for a more expensive medical option when a less expensive one achieves the desired result, your carrier may deny your claim based on cost-efficiency.
Always choose the less-expensive procedure or treatment first. If results do not work the way your physician would like, then you can see if your provider would cover the more expensive option.
Do not lose hope if your carrier denies your claim. A phone call and the right information could change everything for the better.
Losing your job is stressful. Losing your health insurance on top of that is even worse. And whether you have health concerns now or want to safeguard yourself and family for the future, you might be worried about how to cover medical expenses if you’re out of work. Find out what to do when you… Read More
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Prepaying your home loan may not always be the best move: Experts The New Indian Express
College is a place for learning new things, preparing for a career, expanding oneâs point of view, making new friends, and, odds are, partying. But putting more emphasis on a good time than on academics can lead to bad grades and worse. One way that students can ensure they thrive in school is a no-brainer: […]
The post The Ultimate Guide to Studying in College appeared first on SoFi.
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Retirement is usually a daunting transition for most people. Many would admit that the anxiety retirement carries stems from them simply not knowing how to prepare for this life-changing event. In fact, only 27% of the baby boomers that Harris Poll surveyed claim to be âvery preparedâ financially for retirement. Others who arenât as … Read More about How to Avoid These Big Retirement Mistakes
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