Tag Archives: insurance

What Can You Do To Pay The Doctor After You Break Your Leg?

Breaking a leg is never an easy experience, and even though Canada has free healthcare, there can be other medical bills that come with it and they can be overwhelming. And what happens if you were traveling and had an injury outside of the country- what then? In addition to the physical pain and recovery process, you may also have to worry about how to pay for these other medical expenses. In this article, we’ll explore some of the steps you can take to pay for your doctor’s bills after breaking your leg.

Image: castnews.org this site profiles girls with casts in bikinis. Not. Even. Joking.

Check Your Insurance Coverage

The first step to take when facing medical bills is to check your insurance coverage. If you have health insurance as an extra, you may be covered for some or all of the expenses associated with your leg injury. Check with your insurance provider to understand the limits and deductibles of your policy. Understand any out-of-pocket expenses, such as co-payments or coinsurance.

Consider Financing Options

Is the payment plan not working for you? No worries! You can find an emergency loan in Canada that can be a viable option to help you pay your bill on time. Many financial institutions and online lenders offer emergency loans for unforeseen expenses, including medical bills. These loans can provide quick access to funds to cover your medical costs, allowing you to focus on recovery.

Before choosing an emergency loan, it’s essential to research your options and compare interest rates and fees to ensure you select the option that works best for your financial situation. Ensure you understand the loan agreement’s terms and conditions before signing up.

Negotiate the Medical Bills

When you receive a bill for medical services related to your leg injury, ask for an itemized bill. This will allow you to see exactly what you’re being charged for such as an ambulance fee and identify any errors or discrepancies. Once you have an itemized bill, you can try negotiating with your healthcare provider or hospital. Explain your situation and ask if they can reduce the bill or set up a payment plan that works for you. If you’re uncomfortable negotiating independently, you can seek assistance from a medical billing advocate or attorney.

Set up a Payment Plan

If you cannot pay your medical bills fully, you can work with your healthcare provider to set up a payment plan. Many providers are willing to work with patients to develop a payment plan that fits their budget. When setting up a payment plan, make sure you understand the terms and conditions. You should know how much you’ll be expected to pay each month, when payments are due, and whether there are any penalties for late payments. Sticking to the payment schedule is vital to avoid accruing late fees or other penalties.

Look for Assistance Programs

Another option you can look for is financial assistance programs from non-profit organizations or government agencies. These programs help individuals who cannot pay for medical services on their own. Research the available options and apply for assistance if you meet the eligibility criteria.

Paying medical bills after you have an injury can be daunting. However, several financing options are available to help you cover your medical expenses. The key is to research your options carefully, compare interest rates and fees, and understand the terms and conditions of any financing agreement before signing up. By doing so, you can effectively manage your medical expenses and focus on your recovery without undue financial stress.

3 Pros To Get Life Insurance At A Young Age

Life insurance is commonly regarded as an investment that should be considered much later in life, when you are older. Young investors frequently favor high-risk, high-reward investments such as equities and commodities. Even the most conservative millennials prefer investments such as fixed deposits or debt mutual funds. Insurance is being replaced by investment options that promise greater monetary returns sooner.

However, the fact remains that investing in life insurance early has numerous benefits.

You’ll understand why investing in life insurance plans early in your career should be an important part of your retirement planning once you’ve learned the benefits. So, here are 3 of the many benefits of purchasing a life insurance policy at a young age.

  1. You will pay lower premiums

Purchasing life insurance at a young age can save you money in the long run. The insurer frequently considers factors such as the applicant’s age and general health condition when determining the premium payable. People in their twenties and thirties are generally in better health.

As a result, premium charges are less expensive than those charged to older investors. Another reason why buying life insurance at a young age is less expensive is that your risk of dying is much lower. To take advantage of this provision, it is best to purchase life insurance early in life.

  1. Your money has enough time to grow

When you purchase a life insurance policy at a young age, your money has more time to grow. As a result, investing in your twenties increases the death or maturity benefits payable at the end of the policy’s term.

For example, if you purchase a life insurance policy at the age of 25 and continue to pay premiums until you are 60, your money will have 35 years to accumulate into a retirement corpus. If you buy the same life insurance at 40, you only have 20 years to make your money grow. Investing early can thus increase your investment’s cash value in the long run.

  1. The future of your family is secure

Most people, by the time they reach retirement age, will have amassed a sizable corpus to help keep their family financially secure. Most people’s children would have graduated from high school or have a job by the age of 50 or 60. When you’re younger and just starting out in your career, your family may be in a more vulnerable position.

In the unfortunate event that you die, your spouse and young children will struggle to cope without a financial safety net. Investing in a life insurance policy at a young age can provide your dependents with this benefit.

As you can see, investing in life insurance at a young age can be a really big deal if you want to save money in the long run. It will also protect you and your dependents no matter what if you had to die unexpectedly. If you need any advice, you should contact a professional that will help you choose the right life insurance according to your needs.

Featured image: https://www.pexels.com/fr-fr/photo/famille-marchant-sur-le-chemin-1682497/

Ontario Passes Landmark Climate Change Legislation

Today, Ontario passed landmark climate change legislation that lays a foundation for the province to join the biggest carbon market in North America and ensures that the province is accountable for responsibly and transparently investing proceeds from the cap and trade program into actions that reduce greenhouse gas pollution, create jobs and help people and businesses shift to a low-carbon economy.

Under the Climate Change Mitigation and Low-Carbon Economy Act, money raised from Ontario’s cap and trade program will be deposited into a new Greenhouse Gas Reduction Account. The account will invest every dollar in green projects and initiatives that reduce emissions.

Following extensive consultation with industry and other groups, the legislation was strengthened by now requiring enhanced accountability and public reporting on the province’s upcoming Climate Change Action Plan and investment of cap and trade proceeds.

From J. Magnuson's Book on the approaching post-carbon economy. Link below.
           From J. Magnuson’s Book on the approaching post-carbon economy. Link below.

Ontario will post its final cap and trade regulation upon royal assent of the legislation. The regulation covers detailed rules and obligations for businesses participating in the program. The final design was also informed by extensive consultation https://www.ontario.ca/page/cap-and-trade-consultations-summary with businesses, industry, the public, environmental organizations and Indigenous communities.

Climate change is not a distant threat – it is already costing the people of Ontario. It has damaged our environment, caused extreme weather like floods and droughts, and hurt our ability to grow food in some regions. Over the near term, climate change will increase the cost of food and insurance rates, harm wildlife and nature, and eventually make the world inhospitable for our children and grandchildren.

Minister of Climate Change Glen Murray
         Minister of Climate Change Glen Murray

Fighting climate change while supporting growth, efficiency and productivity is part of the government’s economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario’s history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.

QUOTES

“Passing the Climate Change Mitigation and Low-Carbon Economy Act marks the start of the next chapter in Ontario’s transformation to an innovative and prosperous low-carbon economy — one that will benefit households, businesses, industry and communities across the province. This legislation is about enshrining in law our resolve and action to protect and strengthen our environment for generations to come.”

— Glen Murray, Minister of the Environment and Climate Change

QUICK FACTS

§ Ontario’s Climate Change Action Plan is the next step in Ontario’s ongoing fight against climate change and is expected to be released in spring 2016. The plan will describe actions that will help more Ontario households and businesses to adopt low- and no-carbon energy in homes, vehicles and workplaces.

§ Ontario’s $325-million Green Investment Fund http://www.ontario.ca/greeninvestment , a down payment on the province’s cap and trade program, is already strengthening the economy, creating good jobs and driving innovation while fighting climate change — a strong signal of what Ontarians can expect from proceeds of the province’s cap and trade program. These investments will help secure a healthy, clean and prosperous low-carbon future and transform the way we live, move and work while ensuring strong, sustainable communities.

§ The Greenhouse Gas Reduction Account will receive proceeds from auctioning allowances under Ontario’s cap and trade program. The first auction will be held in March 2017.

§ Ontario intends to link its cap and trade program with Quebec and California.

LEARN MORE

Ontario’s Climate Change Strategy https://www.ontario.ca/page/climate-change-strategy

Learn How Cap and Trade Works https://www.ontario.ca/page/cap-and-trade

Green Investment Fund https://www.ontario.ca/page/green-investment-fund

Supplemental- Joel Magnuson’s Book- The Approaching Great Transformation: Toward a Livable Post-Carbon Economy