Saving You Money For Life

Business owners struggling to find a way to maintain employee health coverage are beginning to turn to “mini-meds” — limited benefit health insurance policies.

Standard HMO health insurance plans cover doctors, specialists and between 80 percent and 100 percent for hospital confinement. Mini-meds are not intended to be someone’s only source of payment. These policies help defray the costs for an employee and family members in several areas:

* Outpatient Sickness. This is a section that allows patients to go to a walk-in clinic or emergency room or make a physician’s appointment and see a doctor in the office. Visits per year may be limited.

More after the jump…

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Have you ever gotten a phone calls from your credit card or mortgage company offering inexpensive insurance that will pay off your balance in the event that you die? Sounds like the deal of the century. Just 39 cents, or less, per $1,000 you owe each month to protect your family.

Don’t fall into their trap! The key reason for life insurance is to protect your family from financial disaster if something were to happen to you unexpectedly. A lot of the life insurance being sold today is duplicative of the protection you would get from a term life insurance policy.

So what policies should you think twice about?

More after the jump…

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