You visited your doctor or dentist last month, paid your co-pay and assumed your health insurance would take care of the rest. But today there’s a bill in your mailbox and/or an explanation of benefits, or EOB, from your insurance company making it clear you owe money. “Some people assume they have to pay the bill,” says Erin Moaratty, chief special projects officer for the Patient Advocate Foundation, a nonprofit that helps patients negotiate the system. “A lot of the fear is of collection agencies. They’re not going to send your bill to collections right away.” And once you overpay, it’s often tough and time-consuming to get a refund, she says. So keep your checkbook in your pocket — at least for now. We have solutions for five billing problems. Problem No. 1: You get a bill from your medical provider’s office for a procedure or service that your health insurance has covered in the past. Patience pays off here. The medical office’s billing cycle might be ahead of your insurance company’s claims processors. “Maybe the office has submitted the claim to your insurer and the insurer hasn’t paid yet,” Moaratty says. Solution: Allow 30 days to make sure your health insurance company has time to process the claim, Moaratty says. Call the provider and the insurance company to follow up if needed. Problem No. 2: You have a big pile of EOBs and medical bills, and it’s hard to tell what or whom you owe. That disorganization can cost you time, frustration and money. Solution: When you get a bill from your medical provider, staple it to the EOB.
HSB Engineering Insurance has launched an equipment breakdown product which it says addresses the green issues faced by businesses.
In the event of a claim, the new policy aims to reduce a firm’s carbon footprint and increase energy efficiency by contributing towards the additional cost of replacement equipment that is good for the environment.
Cover can be extended across a range machinery, from standard items such as boilers, lifts and air-conditioning, to highly-specialised equipment for printing and manufacturing.
The policy is available on an itemised or blanket basis and includes cover for temporary plant hire following a loss, and emergency services call out.
HSB’s UK chief executive officer and managing director, Stephanie Watkins, believes breakdowns are a big risk for the 21st Century business, explaining: “The proliferation of new technology and sensitive high-tech equipment means that all kinds of businesses are becoming increasingly reliant on technology.”
She continues: “Blanket cover can completely protect businesses as they become more and more reliant on technology and, because excesses are slightly higher, it is also very cost effective.”
Last month, HSB bolstered its presence in the Midlands with a couple of appointments: Gail Voyle, formerly of AXA and RSA, and Phil Smith who formerly worked for Bureau Veritas.
Both took up posts as development executives.
Commercial lines specialist, Torus, is acquiring Glacier Insurance AG, a Liechtenstein-based subsidiary of the Glacier Group that comes with a portfolio of aviation, space, property, energy, war and terrorism and marine risks.
ARAG has secured an agreement with Casualty & General (Europe) under which the latter will include ARAG’s commercial legal protection as an add-on to its specialist liability insurance offering for brokers.
The enhancement will provide full commercial legal expenses insurance with unlimited telephone advice, plus online legal services support and a business tool that can draft a variety of legal documents, such as employment contracts and Health & Safety documentation.
Commenting on the arrangement, Casualty & General director, Andy Moulsdale, says: “ARAG listened to our requirements and delivered exactly what we needed … we feel this product will add great value to our policy cover in the current market.’’
According to ARAG’s managing director, Tony Buss, the deal is just one example of the firm’s ability to provide a more flexible option to the market.