Medical Insurance For Senior Citizens 

Blue Cross Premier vs Kaiser Senior Care

I posted about Health Insurance for Senior Citizens last time because it's a topic that's been on the minds of people that I know. And weirdly enough, it's not a widely discussed topic despite generations of Filipinos shouldering the care for their parents' well-being.

The probable reason for that is there's hardly any choices. And what's available is prohibitively expensive. I actually browsed several insurance sites but didn't get any isu about medical insurance for senior citizens. And I also previously read that Blue Cross was really the only one offering medical insurance to senior citizens.

But a good thing about that post is that it attracted someone that mentioned yet another alternative - Kaiser Senior Care. So I decided to write a post and try to compare the two. 

It's not going to be accurate since there's a mismatch of information (2013 vs 2011 rates), and Senior Care isn't even mentioned on Kaiser's site - all I could find was an old (2011) brochure.

But maybe by doing this more people will mention other products, or even other alternatives for senior citizens. At worst, at least we can exercise how to choose between two potential insurance policies.

So let's get to the "facts".

Blue Cross Premier:

Price: Php69,299 (annually)

Coverage: Php1.5 million

Cheapest option: 25,487 per year for 500,000 coverage

Does not cover pre-existing conditions (though some maybe covered if approved by their medical director)

Drawbacks: Only for in-patient expenses (confinement)

Advantages: You are covered even when you travel abroad.

Kaiser Senior Care:

Price: Php62,000

Coverage: Php 1 million

Cheapest option: 23,000 for 250,000 coverage 

Does not cover pre-existing conditions

Drawbacks:

• Only for in-patient expenses (confinement)
• 10% co-payment (you shoulder 10% of the bill)
• treatment outside the Philippines is not covered

Advantages: Lower "buy-in"

Comparing them

There's a few other details, such as if/when dreaded diseases are covered (ex Strokes, Cancer, anything that requires Dialysis). But those details are not readily available, and is best explained in detail by agents.

But regardless, we can use the following criteria to make a partial decision:

"Buy-in" - The lower, the better

By this I mean how affordable the cash out is. The best coverage always costs the most. But we only have so much room in our budget. In this case, Kaiser's 62k is "easier" to pay that Blue Cross' 69+k - even when comparing the cheaper coverage 23k for 250k coverage (Kaiser) vs 25+k for 500k coverage (Blue Cross).

"Bang for the buck" - the bigger, the better

By this I mean how much coverage your 1 peso buys. For Blue Cross, your 1 peso buys 21.64 pesos in coverage (1.5M divided by 69.299k). For Kaiser it's only 16.1 pesos (1M / 62k). Even when choosing the cheaper option Blue Cross gives Php19.61 coverage for your peso while Kasier offers only Php10.87

Coverage - Preventive care and Pre-existing Conditions

(Ideally you'd also want to be covered for pre-existing conditions and out-patient/preventive-care, but neither one really offers that.)

Limitations / Exclusions

Generally, less is better. But what you really want is for whatever you have or likely to have to not be excluded. You're getting this to pay for future hospital bills, the insurance company is selling to you on the hope it will profit by not having to pay too much. There's a middle ground that you'll have to find.

After that, it's a matter of reviewing the fine print and the relatively "minor" details like: Do you really travel? Is the 10% co-payment doable or affordable for you?

So which one would I pick? 

Well, it really depends on your specific situation. For me, I'd probably choose Blue Cross, almost solely based on it's bang-for-the-buck. But that's because my choice is theoretical.

Once I buy one for my parents (assuming I actually have choices), I'll most probably get the one that will impose less limitations/exclusions on them. I'd want them to have a good chance of being covered and thus making use of this policy.

If you have read or heard about other alternatives for senior citizens, please tell me by leaving a comment below. I'll research and them to this post.

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Four Stock Perils And What You Can Do To Keep Yourself Safe

Four Stock Perils And What You Can Do To Keep Yourself Safe

Four Stock Perils And What You Can Do To Keep Yourself Safe

Stock making an investment is winning - and dangerous. I have written ahead of how you'll scale back your investment chance.

But some dangers are past your keep an eye on. Fortunately, you are not completely unprotected and do not have to simply settle for them.

What if my bank closes down, will I lose my UITF investment too?

Money you could have within the bank is insured via PDIC, as much as Php500,000. Anything greater than that, you'll lose.

However, UITFs are accept as true with merchandise and are become independent from the bank's different property (as according to Bangko Sentral ng Pilipinas). That thankfully signifies that you'll nonetheless withdraw your investment at it is present marketplace price. So you might be technically at an advantage - "more secure" than anyone with a financial savings account.

But in fact, that you must endure marketplace losses on account of this if the investment has now not but grew to become a benefit and you might be pressured to sell. But that is nonetheless significantly better than in truth dropping your investment.

What about Mutual Funds? Can mutual fund corporations move into chapter 11? What occurs then?

It's imaginable. Personally, it kind of feels not likely. However, the affect - like with UITFs - is moderately minor.

From FAMI's personal web page, you'll simply substitute the fund supervisor.

The longer (and vital) clarification: MFs are corporations, however they only set up property. Each fund is technically an organization itself, regardless that controlled via the MF.

That signifies that despite the fact that the fund supervisor plays so poorly that they are able to't get sufficient charges to pay their expenses, the investment fund (i.e. your selected fairness or balanced fund) itself continues to be intact. Basically, it is industry as standard after the fund supervisor is changed.

It's technically imaginable that the fund itself will move bankrupt. But for that to occur, nearly (if now not actually) all the corporations in its portfolio has to move bankrupt first - rather all of sudden and kind of on the similar time. That's the one means even an incompetent fund supervisor would endure this type of general loss. That's additionally extremely unbelievable. 

  

You can discover a extra detailed clarification right here.

Can my inventory dealer move into chapter 11? What occurs then?

This idea had in truth now not passed off to me till I learn anyone else ask the query. And it seems that, it might occur now and again.

The just right information is that PSE will make a choice a distinct dealer and switch your holdings to that dealer. Or you'll move in finding your individual dealer and feature PSE switch it in your selected one. There's nearly no chance of dropping your investment.

However, the money you could have deposited with the dealer could also be misplaced. In such circumstances you'll get some reduction from SIPF (Securities Investors Protection Fund, Inc.). It acts like PDIC does for banks, apart from it is supposed for inventory buyers.

In case your dealer commits fraud or is going bankrupt, the money holdings with them will likely be changed via SIPF - however most effective as much as a specific amount. You can examine SIPF in PSE Academy.

Another way to keep away from this or a minimum of decrease the danger of this taking place is to make a choice a well-established native dealer with numerous shoppers. Possibly a dealer affiliated with one of the most biggest native banks. It's additionally best possible to attenuate the money you stay to your brokerage account.

You can discover a just right dialogue of this subject in Pinoy Exchange discussion board.

What if the corporate I invested in will get suspended or de-listed via PSE?

This can occur if an organization does now not agree to PSE's laws and rules. If this occurs, the corporate can not be traded at the inventory alternate. If it is "simply" a suspension, there may be nonetheless an opportunity they are able to once more be traded moderately quickly, after they have got fastened no matter offense they have got dedicated. If they get de-listed, then getting indexed (and publicly traded) once more is not likely to occur within the close to long term.

For retail/small-time buyers it is a very unhealthy factor. Technically, after the suspension or de-listing, you're nonetheless a shareholder and part-owner. But because you personal a moderately miniscule a part of the corporate, there may be virtually no receive advantages in that.

You can hang your inventory, if you are positive the corporate will do what it takes to get indexed once more. However if they do not, you will have to in finding patrons of your percentage by yourself - I am not even positive how you would move about doing that, let on my own who would wish to buy. The corporate additionally is not obligated to buy out your stocks.

But ahead of this occurs, your dealer will tell you of any imaginable suspension or de-listing. From my enjoy, PSE is going a little bit additional and gives berita within the newspaper on possible suspensions.

In such circumstances numerous other folks could also be having a look to sell, and only some keen to buy. You clearly may not get a benefit, however it might be prudent to sell anyway to keep away from a possible general loss.

Note: Burn wrote  very complete article in this subject. You can learn up on it right here.

While making an investment in shares is inherently dangerous, a minimum of it is not a complete jump of religion. There is a few measure of coverage, we simply want to concentrate on them.

If you loved this submit, please subscribe to my feed, like me on Facebook, circle me on Google+, or observe me Twitter @thePFApprentice. It's unfastened, you will not pass over new articles, and you can additionally get my unfastened guide: the Super Savings Guide.

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Want to save lots of money? Dont bulk buy if Use Car Loan

Want to save lots of money? Dont bulk buy if Use Car Loan

Want to save lots of money? Dont bulk buy if Use Car Loan

Ok, you were given me. That is not truly correct. You can save money by way of buying in bulk - in the event you do it proper. But as a rule, families are simply managing their money flows.

First off, sure you do get a cheaper price (consistent with unit, this is) by way of buying in bulk. But it is not that straight-forward.

And excellent private finance choices continuously will also be analogous to what a accountable corporate would do in an identical eventualities. Taking inventory of your own web value is just about an organization's steadiness sheet. And assessing your cashflow is sort of a corporate's source of revenue observation.

And since corporations buy in massive amounts, it is smart that we will have to accomplish that if we will, proper?

Actually, no.

Companies, usually attempt to decrease stock. Even for issues essential to their industry, they have a tendency to stay sufficient to tide them over till the following cargo comes and a some additional in case deliveries are not on time.

Huge corporations in fact pay numerous money for instrument to control stock. And "arrange" partially way ensuring they are no longer ordering an excessive amount of or too quickly. (And I do know this as a result of I labored for IT corporations that supplied the ones instrument.)

Not ordering an excessive amount of or too quickly - does that truly sound like bulk buying?

Sure, their orders are massive once they lead them to. But once they time it like that, it is truly extra like buying the bigger measurement somewhat than bulk-buying.

And the rationale corporations time this is a bit telling too: Cash is a extra versatile asset. At nearly any time, you'll trade it for what you wish to have extra. You do not need to use it as much as buy toothpaste (for instance), since you wont have the ability to trade that for tissue paper when a surprising want arises.

And for many families, the similar reasoning carries weight as neatly. Pretty a lot we all know to not buy a boatload of shampoo that occurs to be at 50% off, after which must scrounge round to buy fabrics for a faculty projector any other sudden expense.

But bulk-buying is continuously sited as a money-saving methodology in relation to private finance. It's value noting that managing your cashflow is extra vital.

If you really liked this put up, please subscribe to my feed, like me on Facebook, circle me on Google+, or observe me Twitter @thePFApprentice. It's loose, you will not omit new articles, and you can additionally get my loose guide: the Super Savings Guide.

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Three Biases That Affect How You Handle Money

Three Biases That Affect How You Handle Money

Three Biases That Affect How You Handle Money

Some time again I discussed 7 behaviors that silently affected how we take care of money.
Today I would love to proportion and upload 3 extra to that listing - Priming, Halo Effect, and Hindsight Bias. These had been in fact defined in point of fact smartly in Daniel Kahneman's guide Thinking Fast and Slow.
But as a substitute of me writing about it, here is a concise four:35 animation from youtube channel FightMediocrity to provide an explanation for it.

The channel has numerous nice animated guide summaries. I would recommend checking it out; perhaps that guide you've got been which means to learn, however can not to find the time to, has been summarized there.
Subscribe to my feed, like me on Facebook, circle me on Google+, or practice me Twitter @thePFApprentice. It's unfastened, you will not leave out new articles, and you can additionally get my unfastened book: the Super Savings Guide.

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