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Posted
Nov 07 2008, 12:50 AM
by
Donna Freedman
Rating:
Money Blog: Smart Spending Blog - MSN Money
Hey, you with the half-mast eyes: Put that coffee down and tell me how you're feeling. Rested, alert and upbeat? Ready to take on the world, or at least to accomplish everything on today's to-do list?
That's what I thought. You need a nap. We all need naps. A 20- to 40-minute snooze can change your mood, improve your cognitive abilities and maybe even save your life.
Oh, and it's also a frugal hack. More on that later.
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Posted
Nov 08 2007, 08:05 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Sarah Winfrey at partner blog Wise Bread . A lady I know of died last night. It was expected; she had been diagnosed with incurable cancer last spring. I didn't know her well. I wish I had, as her friends are going to great lengths to honor her. It's been really cool to see people coming together, comforting each other, saying meaningful things to each other. One of the things friends say has comforted them is that her family is in a secure place financially. I'm not sure what plans she had in place, but her family has been able to cover her medical care and will be able to pay for her funeral without a lot of trouble. Friends are comforted that the family won't have to worry about money as they grieve the loss of this wife and mother. This has made me think hard. You can do a lot before a crisis hits to help your family when it does. Here are things I'm glad I have and ones I intend to look into. Health insurance. I have great health insurance and will have better
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Posted
Sep 17 2008, 10:57 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Ron Haynes at The Wisdom Journal is almost ready to bet the farm that you aren't doing everything you could to better manage your money. Doing our best to make every penny count could provide a greater sense of security as we collectively ride an economic roller coaster. So we took him up on the challenge and reviewed his "50 frugal things you aren't doing." He's right. We're not doing all we can.
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Posted
Nov 06 2008, 04:12 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Many employers are now holding open enrollment for health insurance, so it's time to thoroughly explore your options. With rising costs and shrinking coverage, you might save significant money by changing your plan. But please do not follow an unfortunate new trend and decline coverage to avoid paying what are likely to be higher costs. Says Consumer Reports (and we cannot emphasize this enough): That is a bad, bad idea. The cost of even a single serious health condition -- an injury, an accident, a bout of depression, an unexpected illness or surgery -- can hit five figures before you know it and lead rapidly to financial ruin.
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Posted
Feb 20 2008, 02:30 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
We'd never thought there was an upside to smoking until we read Ryan's post called "When smoking is good for you" at Millionaire Money Habits. After all, it's linked to serious illness and shortens your life span. "The health implications of this habit are great news for smokers who have a limited retirement fund or have plans to spend their retirement (savings) frivolously," he writes. In other words, who needs a lot of retirement money if the dirt nap comes early. (Just make sure you have good health insurance.) You do need a lot of money for smoking. With a pack-a-day habit, you're spending $1,825 a year -- and in some places even more -- or $76,000 between ages 18 and 59 1/2, not including inflation and higher taxes (and not to mention the additional costs of smoking noted in an MSN Money article). On the other hand, Ryan says, if you invest that money, you'll have about $1.2 million by the time you retire.
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Posted
Jul 03 2009, 07:19 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from partner blog The Dough Roller.
Individual health insurance plans can be costly, complex and downright confusing. Navigating the world of co-insurance, co-pays and deductibles becomes a difficult task when it comes to choosing insurance plans that are not prepackaged and backed by an employer.
Many self-employed individuals and those who work for employers that do not provide health insurance spend hours trying to decipher the language of the industry and find the best coverage for the lowest premiums.
All health insurance plans are not created equal. Health insurance companies use a variety of different approaches when developing products and services for individual buyers. Low premiums might not necessarily mean that individuals are getting the type of coverage they need. The first step in exploring the many different types of individual health insurance plans is to learn all about the basic terminology and common features.
What is co-insurance?
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Posted
Jan 03 2008, 03:03 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Have you had a bad day? You might feel better if you read the tales of two personal-finance bloggers who were caught in bureaucratic nightmares. The hospital told One Frugal Girl three hours before a scheduled medical procedure that her insurance wouldn't pay for it, even though the insurance company had said it would. The headline on her post says it all: "Another horrific day at the hospital." Lynnae's lament at Being Frugal is about credit cards. She was charged a late fee and assigned a higher interest rate because she made her payment too early.
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Posted
Jun 04 2008, 05:27 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
If Single Ma had accepted the two prescriptions written for her and for her daughter without question, she would have spent $100 out-of-pocket -- despite the fact that her workplace health insurance plan includes meds. She did some research, made some phone calls, and ended up saving $180 (that's not a typo), without accepting reduced care for herself or her beloved BabyGirl. This practical post at Fabulous Financials illustrates why you need to be a savvy consumer when it comes to medical care.
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Posted
Aug 05 2009, 05:49 PM
by
Teresa Mears
Rating:
Money Blog: Smart Spending Blog - MSN Money
Until recently, you didn't need to bring a lot of money when you visited the doctor, at least if you had health insurance. That is changing, The Wall Street Journal reports. More doctors are demanding your full co-pay and co-insurance amount up front, which can be hundreds or thousands of dollars under some high-deductible plans.
Insurance policies with increased co-pays and deductibles are making the patient responsible for a larger share of medical bills. In turns, doctors and hospitals, which used to focus on getting their fees from insurance companies, are also focusing on collecting from their patients.
"The days of coming up with just a $10 co-pay -- that ship sailed a long time ago," Jeff Drasnin, a pediatrician in the Cincinnati area, told The Wall Street Journal. Collecting at time of service has "cut out a tremendous amount of bad debt we used to write off," he says.
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Posted
Sep 21 2009, 06:10 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
We knew that health insurance companies refuse to sell individual policies to people who've had cancer or hypertension. But acne or bunions -- or working in a first-responder job?
Insurance company documents obtained and made public by Consumer Watchdog indicate how far some insurers will go to limit individual coverage to only the healthiest people (and those with the safest jobs). A hangnail? You'll get coverage. Toenail fungus? Perhaps not.
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