IDBI Bank, Toyota ink MoU for auto finance IDBI Bank and Toyota Kirloskar Motor Pvt Ltd (TKM) today signed a memorandum of understanding (MoU) for providing auto finance to the latter's prospective customers.
http://economictimes.indiatimes.com/IDBI-Bank-Toyota-ink-MoU-for-auto-finance/articleshow/5292990.cmshttp://economictimes.indiatimes.com/IDBI-Bank-Toyota-ink-MoU-for-auto-finance/articleshow/5292990.cmsWed, 02 Dec 2009 14:16:09 GMTIDBI Bank, Toyota ink MoU for auto financeIDBI Bank, Toyota ink MoU for auto financeEPFO may buy long-term govt bonds from secondary markets The retirement fund manager EPFO will soon be allowed to purchase long-term government bonds with maturity of 10 years or more from the secondary market.
http://economictimes.indiatimes.com/EPFO-may-buy-long-term-govt-bonds-from-secondary-markets/articleshow/5292427.cmshttp://economictimes.indiatimes.com/EPFO-may-buy-long-term-govt-bonds-from-secondary-markets/articleshow/5292427.cmsWed, 02 Dec 2009 11:14:44 GMTEPFO may buy long-term govt bonds from secondary marketsEPFO may buy long-term govt bonds from secondary marketsWockhardt wins ICICI backing for liquidation fight with DBS Pharmaceutical company Wockhardt, which is fighting a legal battle with a clutch of foreign banks, which want the troubled drug-maker to be liquidated, on Friday received support from ICICI, India?s largest private sector bank.
http://economictimes.indiatimes.com/Wockhardt-wins-ICICI-backing-for-liquidation-fight-with-DBS/articleshow/5277174.cmshttp://economictimes.indiatimes.com/Wockhardt-wins-ICICI-backing-for-liquidation-fight-with-DBS/articleshow/5277174.cmsFri, 27 Nov 2009 19:48:36 GMTWockhardt wins ICICI backing for liquidation fight with DBSWockhardt wins ICICI backing for liquidation fight with DBSFranklin Templeton to launch new income fund Franklin Templeton Investments (India) is launching a new open-ended income fund that seeks to provide high return and stability of capital. http://economictimes.indiatimes.com/Franklin-Templeton-to-launch-new-income-fund/articleshow/5275766.cmshttp://economictimes.indiatimes.com/Franklin-Templeton-to-launch-new-income-fund/articleshow/5275766.cmsFri, 27 Nov 2009 11:58:31 GMTFranklin Templeton to launch new income fundFranklin Templeton to launch new income fundRBI to ask banks about their exposure in Dubai World The Reserve Bank of India (RBI) will ask Indian banks to furnish details regarding their exposure in the Dubai World, said RBI deputy governor Shyamala Gopinath in Ahmedabad.
http://economictimes.indiatimes.com/RBI-to-ask-banks-about-their-exposure-in-Dubai-World/articleshow/5275673.cmshttp://economictimes.indiatimes.com/RBI-to-ask-banks-about-their-exposure-in-Dubai-World/articleshow/5275673.cmsFri, 27 Nov 2009 11:35:05 GMTRBI to ask banks about their exposure in Dubai WorldRBI to ask banks about their exposure in Dubai WorldEPFO asks ICICI Pru, SBI to improve returns Unhappy with the performance of ICICI Pru AMC and State Bank of India--two of its two fund managers--during the first half of this fiscal, the EPFO has asked them to submit an action plan on earning better returns.
http://economictimes.indiatimes.com/EPFO-asks-ICICI-Pru-SBI-to-improve-returns/articleshow/5275608.cmshttp://economictimes.indiatimes.com/EPFO-asks-ICICI-Pru-SBI-to-improve-returns/articleshow/5275608.cmsFri, 27 Nov 2009 11:19:12 GMTEPFO asks ICICI Pru, SBI to improve returnsEPFO asks ICICI Pru, SBI to improve returns
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How Much Are Out Of Pocket Costs? By Dennis Alexander At first, health that covers 100% of health care costs sounds great. However, it can be very expensive. It also can be inefficient due to moral hazard. You generally wind up paying for services whose costs outweigh their benefits even if you do not use them. Even if your employer pays for your insurance, you probably pay for it indirectly because your take-home wages are lower..
Consider a colorful analogy. Have you gone grocery shopping and seen packages of chicken that include giblets and other parts that you do not want? It is not a good deal when you have to pay for things you do not want. A package without giblets may be a better deal. Health that pays for everything can be like a chicken package with giblets. You can wind up paying a higher premium for marginal services that people use, but are not really very worthwhile. Health that pays for the important things but does not cover everything can be a better deal.
To reduce the inefficiency of moral hazard, most health plans have some way to limit use of marginal or extra services. Health Maintenance Organizations (HMOs) tend to have stronger constraints on care provided and indemnity health plans tend to have stronger constraints on care demanded. The most common form of demand-side constraints is out-of-pocket costs.
"Out-of-Pocket Costs" are costs that you pay out of your own pocket when you get health care even though you are insured and have already paid a premium. When out-of-pocket costs are very low and there are no constraints on care provided, then can be very expensive and inefficient. When out-of-pocket costs are very high and there are no limits on how much you might pay, then can be almost worthless for reducing your financial risk. Intermediate levels of out-of-pocket costs are generally the best deals. For these reasons, you need to know what out-of-pocket costs a health policy has.
There are different types of out-of-pocket costs. When you pay up to a certain dollar amount before pays anything, this is called a "Deductible." Only covered health expenses count toward your deductible. There may be a deductible for each service you get (such as paying $5 for each prescription) or there may be one deductible for whatever services you get for a whole year (such as paying up to $500 for all services during a year). A deductible for each service is often called a "Copay." Generally, with higher deductibles has much lower premiums. with a very high deductible is sometimes called "Catastrophic Insurance."
An "Elimination Period" is like a deductible in days instead of dollars. An elimination period for hospital care means that your will not start paying until after you have been in the hospital for a certain number of days. With increasingly short hospital stays, with an elimination period pays you a lot less than without an elimination period.
"Coinsurance" is what you pay out-of-pocket for health care after
you have paid a deductible. Coinsurance is generally shown as a percentage of covered expenses above the deductible. For example, "20% Coinsurance" means that you pay 20% of covered expenses over the deductible. If your provider charges more than the covered amount, you might wind up paying for that difference in addition to the 20% coinsurance.
In addition to deductibles and coinsurance, some health also has a "limit" or "cap" on how much it will pay for individual services, episodes of illness, or lifetime benefits. A "Lifetime Maximum Benefit" or "Benefit Ceiling" limits how much your pays you over your lifetime. This can leave you vulnerable to risk if it is not high enough. If you must get a plan with a lifetime maximum benefit, it should be $1 million or more.
A maximum benefit limits what the company will pay. The conceptual opposite is an out-of-pocket maximum. An "Out-of-Pocket Maximum" is the most that you will ever pay for covered medical services during a benefit period. With a true out-of-pocket maximum, the plan pays for all covered services above the maximum. However, be careful. Some out-of-pocket "maximums" are not true maximums. The plan only pays an allowable amount per service and you have to pay more if your provider bills you for more than that. A true out-of-pocket maximum is worthwhile because it limits your risk of large health care bills.
Before choosing a health plan, check what out-of-pocket costs a plan has for a hospital stay, outpatient visit, other physician services, drug prescription, and other services. Health plans with greater out-of-pocket costs should have lower premiums. Not only do they pay people less money for covered services, but their members who pay out-of-pocket use fewer services.
Different types of out-of-pocket costs leave you with different risks. Health with out-of-pocket costs that include only modest deductibles leaves you at risk for some small things, but covers the big things. This is less risky. Health with out-of-pocket costs that include benefit maximums and large percentage coinsurance covers the small things, but leaves you at risk for big things. This is more risky. If you are looking for a way to reduce your premium by increasing out-of-pocket costs, it is generally less risky to go with a policy with a higher deductible than one with a benefits maximum or high coinsurance.
Dennis Alexander - leading consultant for employer group and individual/family health insurance. For any additional information and assistance with all of your health needs visit our websites Cheap health insurance and Blue Cross health insurance
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