Why is it so difficult to achieve universal healthcare in the United States?

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The healthcare system in the United States is arguably one of the country’s most complicated sectors. One of the most controversial yet practical healthcare solutions that has eluded this country is universal healthcare. And while it’s easy to argue that its implementation cannot be that complicated—after all, other developed countries in Europe or even America’s neighboring country, Canada have managed to provide it—it is befuddling that universal healthcare remains non-existent in the world’s largest economy.

So why has universal healthcare eluded the United States? According to health insurance expert Delos H. Yancey, factors specific to the country complicate the situation. Here are some of the causes of the difficulty of implementing a universal healthcare system:

The first element that affects possible applications of universal healthcare is the country’s size and population. The US is one of the largest countries in the world, with almost a third of a billion people. Other problems the country faces due to its size and population include educational programs and its tax system.

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Second, there’s a stigma behind the socialist idea that everyone deserves healthcare. This issue remains divisive as there’s already a social security system fending for retired citizens. Some believe that universal healthcare will spark a socialist movement in the country.

Lastly, politics in the US is severely divided. Because of a lack of bipartisanship, it is close to impossible to propose and enact a universal healthcare legislation. According to Delos H. Yancey, there are certain politicians who are backed by large pharmaceutical corporations that hinder the process in order to keep the prices of life-saving medicine such as epipens high.

Delos H. Yancey III currently serves as the chairman, president, and CEO of State Mutual Insurance, a legal reserve mutual insurer in Rome, Georgia, that currently specializes in Medicare supplement policies. Visit his company’s website for more on its services and history.

What you should know about your insurance premium

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Premium costs for health insurances vary from one person to another. Many factors affect one’s premium, as the information that is included in a person’s insurance application and their medical history make up their risk profile.

When shopping for health and life insurance, it must be noted that insurance companies utilize historical statistics and extensive product research to gather different factors and develop a standard for risk profiles. Physical and medical factors include one’s gender, age, body mass index (BMI), tobacco use, pre-existing health conditions, and family medical history. According to Delos H. Yancey III, CEO of State Mutual Insurance, a person’s lifestyle affects their insurance premium.

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An individual’s profession, marital status, and zip code are factors considered by health and life insurance providers, which will be reflected in the insurance premium. First-time insurance buyers may be charged a little more than those who have been previously insured. This is due to the assumption that such first-time buyers have been wanting to get checked by a dentist or a health professional to receive general health and wellness tests. Moreover, if a person hasn’t received medical care prior to the insurance, Delos H. Yancey says any health problems assessed are assumed to worsen over time.

These factors are all taken into account, and there’s nothing much an insurance buyer can do but to live a healthier lifestyle, which includes quitting smoking, losing weight if needed, or moving to another city. Leading a healthy lifestyle and managing risk factors can lessen the price of insurance premiums.

A reminder on why people should opt for the Medicare supplement plan

 

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State Mutual Insurance’s Delos H. Yancey has always reminded people about the importance of insurance plans. He notes that a combination of factors has made insurance a must-have for everyone. But probably the most important reason for getting insurance is the fact that health care is not getting any cheaper.

On that note, Mr. Yancey urges people, especially retirees, to at the very least, look into getting a Medicare supplement plan. He believes that seniors who already hold Medicare A and B should seriously consider Medigap – a Medicare supplement plan.

There is no shortage for Medicare supplement plan. Even the simplest one already covers coinsurance and hospital bills for an added year once the original Medicare plan benefits have been used. This same plan also covers a huge part of hospice care and three pints of blood.

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For seniors who love to travel, there are even Medicare plans that take care of their holders abroad. A number of these plans can cover up to 80 percent of the expenses incurred through medical emergencies if experienced overseas, explains Delos H. Yancey of State Mutual Insurance.

Medicare supplement plans pay at least half of the Medicare-covered copayments for doctor’s checkups; the value of which can truly be seen when plan holders have to regularly visit their physicians. And on the topic of value, Medicare supplement plans also provide great savings for people looking to purchase medical equipment such as wheelchairs or walkers.

State Mutual Insurance is headed by Delos H. Yancey, a Certified Financial Examiner, a Certified Insurance Examiner, and a fellow of the LIMRA Leadership Institute. For more reads on State Mutual Insurance and its services, visit its official website.

Five reasons for an early start in health insurance investment

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Health is wealth. However, with many individuals leading hectic lives, breathing in polluted air, and consuming contaminated food, they may be facing serious health concerns. While life expectancy has increased, the number of illnesses affecting the younger generation has also increased.

An early start in health insurance investment assures one of a better and more secure future. The earlier, the better. Buying a health insurance investment as early as possible enables one to easily ride out the waiting period. Completing the waiting period before actually needing it is also only possible when one buys a health insurance at a young age. Young adults don’t necessarily need coverage for ailments such as cataract, knee replacement, or lifestyle diseases.

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Comprehensive plans are at lower premiums. One can avail a health insurance plan without any medical checkup, and young adults are offered a broader range of policies. A policy holder’s age is one factor that affects premium rates. With an early start in health insurance investment, a policy holder can get a comprehensive and holistic coverage at cheaper premiums.

Availing a health insurance plan at a younger age allows one to plan their finances in a better manner. Younger adults are more likely to be in good health than those advanced in age. This means they have lesser chances of being rejectedby a health insurance plan. It is possible for one to develop severe complications over time, thus having a health plan early on may lower the probability of rejection, even when the medical underwriting would not be so favorable.

Delos H. Yancey III is the chairman, president, and CEO of State Mutual Insurance. He is a Certified Financial Examiner, a Certified Insurance Examiner, and fellow of the LIMRA Leadership Institute. Learn more about the company here.

Why you should get your child an insurance policy as early as possible

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It is common for parents to think that a child does not need any kind of insurance policy because its main purpose is to cover the loss of income of a working adult. However, there are many reasons why it is beneficial for a child to have life insurance, and here are some examples.

Your children will always be safe and insured. Getting your child an insurance policy is like providing a long-term medical assurance, regardless of what happens to them, health-wise, in the future. Verify with your insurance policy provider what type is best for young children, and get something that will never be denied no matter what medical issues arise in the future.

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The premium increases with age. This is a simple rule with health insurance plans that’s based on simple logic: the younger you are, the healthier you are. If you get your children life insurance while they’re young, they can get a good plan without the risk of an increased premium as years go by.

Small policies are more affordable.Buying life insurance for younger children means that you will shell out a lot of cash. You will spend between $5,000 to $15,000, with relatively inexpensive costs that range between $5 to $15 per month.

Delos H. Yancey III is the chairman, president, and CEO of State Mutual Insurance. Founded in 1936, State Mutual Insurance is a legal reserve mutual insurer headquartered in Rome, Georgia. It is the first and only Medicare Supplement insurance company to offer an online application process. For more information, visit the company’s website by clicking this link.

Five reasons for an early start in health insurance investment

 

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Health is wealth. However, with many individuals leading hectic lives, breathing in polluted air, and consuming contaminated food, they may be facing serious health concerns. While life expectancy has increased, the number of illnesses affecting the younger generation has also increased.

An early start in health insurance investment assures one of a better and more secure future. The earlier, the better. Buying a health insurance investment as early as possible enables one to easily ride out the waiting period. Completing the waiting period before actually needing it is also only possible when one buys a health insurance at a young age. Young adults don’t necessarily need coverage for ailments such as cataract, knee replacement, or lifestyle diseases.

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Comprehensive plans are at lower premiums. One can avail a health insurance plan without any medical checkup, and young adults are offered a broader range of policies. A policy holder’s age is one factor that affects premium rates. With an early start in health insurance investment, a policy holder can get a comprehensive and holistic coverage at cheaper premiums.

Availing a health insurance plan at a younger age allows one to plan their finances in a better manner. Younger adults are more likely to be in good health than those advanced in age. This means they have lesser chances of being rejectedby a health insurance plan. It is possible for one to develop severe complications over time, thus having a health plan early on may lower the probability of rejection, even when the medical underwriting would not be so favorable.

Delos H. Yancey III is the chairman, president, and CEO of State Mutual Insurance. He is a Certified Financial Examiner, a Certified Insurance Examiner, and fellow of the LIMRA Leadership Institute. Learn more about the company here.

Certainties in the hereafter: Tax and death benefits from life insurance

 

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One of the most popular parts of long-term financial planning, life insurance helps provide people with dependents the peace of mind from knowing that their families will be taken care of and can serve as a tax-efficient way of carrying your savings to the next generation. Incorporating life insurance to your estate’s portfolio and selecting the appropriate payout option can benefit your family greatly in the event of the inevitable.

The death benefits of a life insurance policy are given to the beneficiaries stated in your policy, often the face amount of the contract. The contract’s face amount would vary considerably over time because of underwriting. In most cases, it is very difficult for you to substantially increase the value of your policy’s face amount than decrease it over time.

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What it lacks in growth options, however, it makes up for in tax efficiency. Unlike most forms of inherited income, life insurance policies aren’t subject to income taxes and are usually exempt from estate taxes because it is turned over to beneficiaries upon the death of the policyholder. Although it isn’t completely free of taxes (it is still subject to federal taxes), it still retains more of its value upon being received by beneficiaries than other assets in the estate.

Beneficiaries can receive their share of the payout upon the death of the policyholder in a number of ways. Frequently, they are available as lump sum payments.

The tax-free nature of life insurance policies can provide families with ample liquid cash, which can be used not only to provide for themselves in the event of an untimely death but also as a contingency for estates with a largely illiquid portfolio. The money can then be used to pay off the estate taxes, allowing the family to retain their assets without liquidating them.

Delos H. Yancey III heads State Mutual Insurance, a policyholder owned legal reserve mutual insurance provider based in Rome, Georgia. Visit this website for more on his company and its products.

Top 4 reasons why people should always update their insurance policy

 

Life insurance premiums are very much like mortgage loans. You pay for them on a monthly basis, and the amount you pay can change without prior notice due to changes in state legislation or other external factors. If you don’t keep tabs on your insurance policies, it could be possible to pay a lot more than you should. Here are the top 4 reasons why people should always update their insurance policy.

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To understand your insurance policy better

Updating your insurance policy doesn’t necessarily mean changing it every time. You can use this time to further understand your coverage and see if you need to adjust your plan. A survey conducted by nonprofit firm Life Happens revealed that almost 85 percent of its respondents claimed that they found it important to have readily understandable coverage. Simply put, the more you check on your insurance policy, the better your understanding of it will become.

Changes occur frequently

External and internal factors can affect insurance premiums and policies without policyholders knowing. Depending on these changes, you may see insurance policies a lot more differently. For example, situations, like getting married, getting promoted, or discovering you have a hereditary disease, could make you want to change your insurance plan.

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Remarriages are booming

Divorces and remarriages are obvious reasons to update your insurance policies mainly because it involves beneficiaries. When you do change beneficiaries, let them know so that unclaimed coverage won’t be a problem.

Your address changed

Even if it seems like a clerical thing to do, you need to update your insurance policy to reflect your current address. This is even more important if you moved outside the country as mailing details tend to be different outside the U.S.

Delos H. Yancey III currently serves as the chairman, president, and CEO of State Mutual Insurance, a legal reserve mutual insurer in Rome, Georgia, that currently specializes in Medicare supplement policies. Visit the company’s website for more on its services and history.

How to stay insured after graduating college

 

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Getting health insurance nowadays is so vital, it can mean the difference between staying healthy and getting buried in medical bills and debt. For this reason, health insurance has become so important for kids who grew up and are no longer covered by their parents’ insurance plans or who have never had health coverage to begin with.

Here are some ways to stay insured after graduating college.

The easiest way to stay insured is to remain on your parents’ insurance. Almost all health plans of parents offer coverage for their children until the age of 26. This gives fresh graduates ample time to find good income and pay for their own insurance plans.

Another way to get insured is by securing short-term health insurance. Getting hired doesn’t automatically give new hires coverage. Employers have to go through a waiting period before they can offer health insurance. Between that time, you can secure short term insurance that can cover them for a minimum of three months at a time.

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An ACA-compliant individual plan is another option you can opt for. It is available in every state. This plan offers premium subsidies, and cost-sharing reductions which makes coverage and care much more affordable.

You should also check if you are eligible for Medicaid. In certain places like the District of Columbia, Medicaid has been expanded to cover all adults earning up to 138% of the poverty level. Medicaid enrollment is available any time of the year and covers pre-existing conditions.

Delos H. Yancey III currently serves as the chairman, president, and CEO of State Mutual Insurance, a legal reserve mutual insurer in Rome, Georgia, that currently specializes in Medicare supplement policies. Visit his company’s website for more on its services and history.

How to stay insured after graduating college

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Getting health insurance nowadays is so vital, it can mean the difference between staying healthy and getting buried in medical bills and debt. For this reason, health insurance has become so important for kids who grew up and are no longer covered by their parents’ insurance plans or who have never had health coverage to begin with.

Here are some ways to stay insured after graduating college.

The easiest way to stay insured is to remain on your parents’ insurance. Almost all health plans of parents offer coverage for their children until the age of 26. This gives fresh graduates ample time to find good income and pay for their own insurance plans.

Another way to get insured is by securing short-term health insurance. Getting hired doesn’t automatically give new hires coverage. Employers have to go through a waiting period before they can offer health insurance. Between that time, you can secure short term insurance that can cover them for a minimum of three months at a time.

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An ACA-compliant individual plan is another option you can opt for. It is available in every state. This plan offers premium subsidies, and cost-sharing reductions which makes coverage and care much more affordable.

You should also check if you are eligible for Medicaid. In certain places like the District of Columbia, Medicaid has been expanded to cover all adults earning up to 138% of the poverty level. Medicaid enrollment is available any time of the year and covers pre-existing conditions.

Delos H. Yancey III currently serves as the chairman, president, and CEO of State Mutual Insurance, a legal reserve mutual insurer in Rome, Georgia, that currently specializes in Medicare supplement policies. Visit his company’s website for more on its services and history.