In many countries, diabetics are lucky to have their regular care covered by a national health plan. In the U.S. however, finding insurance after diabetes has been diagnosed may be difficult, because of many common limitations on coverage of “pre-existing conditions” placed by most insurance companies.

However, even if you have a good basic insurance plan that covers the cost of your basic medication and office visits, check and find out what kind of coverage you do or do not have for important ‘accessories’ for diabetics, such as special diabetic shoes and socks, and custom shoe insoles. Proper pedorthic insoles and diabetic footwear can be expensive, and finding ’supplemental insurance’ to cover it (if your regular insurance does not) can be a great financial help in managing your diabetes.Finding insurance that will also cover the cost of special diabetic personal care items may be quite difficult, but prescription skin lotions to help prevent dry, cracked skin and encourage healing of scratches, ulcers and fungal infections can be an important part of diabetes care. If your insurance will cover such items, you may also want to ask if you are covered for other ‘accessory’ items such as self- massage and exercise equipment, to help combat the effects of poor circulation and muscle wasting.

If you cannot obtain coverage for such ‘extra’ items with your primary insurer, you may be able to find supplemental insurance with less restrictive coverages, or even a specialty insurance policy designed for diabetics.

Research your options, if you’re having any financial difficulty with proper management of your diabetes, because the potential costs of improper or inadequate care are much higher than most insurance premiums ever could be.

When an individual obtains family health insurance, they believe they are protecting themselves and their family both medically and financially. The cold hard numbers, however, cannot be ignored. Not every health insurance policy is adequate to provide true peace of mind – or to provide sufficient coverage in the event of a serious illness.

A recent Harvard study shows that having health insurance isn’t necessarily protection from financial ruin. Of all the bankruptcies filed in the United States in 2007, the study concludes, medical debt contributed to 62% of them.

The study was a joint research project carried out by Harvard Medical School and Harvard Law School. It encompasses an in-depth study of bankruptcies brought on by medical bills. Questionnaires answered by bankruptcy filers, along with their court records, made up the data used to reach the study’s conclusions.

Contrary to common thinking, medical bankruptcy isn’t limited to those without medical insurance. For the under-insured, thousands of dollars of out-of-pockets costs can lead to bankruptcy. In fact, of those who faced medical bankruptcy, nearly 80% actually had medical insurance at the start of their illness but were nonetheless buried in medical bills.

The initial Harvard study was conducted in 2001. Since then, medical bankruptcies have increased by 50%. The lead author of the study makes the bold statement that “Unless you’re Bill Gates, you’re just one serious illness away from bankruptcy.”

An outcry over health insurance policies with meager coverage for serious illnesses was sparked by the results of the study. The obvious question that arises from the spotlight on the wide scale problem of inadequate insurance is whether government-mandated health care reform is the answer. It’s a question that continues to raise heated debate.

One thing is for sure: solely any government-run health care program won’t remedy the problem of woefully inadequate medical insurance coverage. What the Harvard study and others like it make clear is that the root cause isn’t whether or not you have insurance. The real issue lies in the extent of the coverage.

Patient advocates are urging lawmakers to include provisions in the final legislation that would guarantee a base level of coverage to health insurance policyholders. Solutions being considered by the House and the Senate include minimum standards for family medical insurance and other health insurance coverage as well as a cap on out-of-pocket expenses.

Many argue that government-run health care is an extreme solution to a problem that could be handled through specific legislation that targets limited benefit health insurance. They point to the obvious conclusion presented by the study that health insurance in and of itself is not the answer. Having family medical insurance did not save hundreds of thousands of individuals from bankruptcy.

Those shopping for family medical insurance should also be aware of the fine print in their policies. The overall quality of family medical insurance should be considered. Premium costs are only one factor that should go into the equation. If and until any minimum coverage standards are implemented, family medical insurance shoppers should take the time to educate themselves. Careful research and scrutiny of police limitations is key to securing family medical insurance that truly protects you and your family.

The joint venture plans to infuse Rs 500 crore. A minimum of Rs 100 crore is needed to set up a non-life insurance company.

Insurers are trying to tap the health segment as they consider it underpenetrated. This segment has been logging a growth of over 37 per cent since 2002. Both life and non-life insurers are trying to tap this market. Despite low penetration, the claim ratio in the segment is high (around 140 per cent).

At present, there are two specialised health insurance companies, Star Allied Health Insurance and Apollo DKV. Another private sector player Max New York Life has formed a JV with UK-based British United Provident Association (Bupa) to roll out its health insurance business, Max Bupa.

Religare entered into the insurance space with Aegon, the Netherland-based insurance company, for a life insurance joint venture. It is also present in asset management, wealth management, equity broking, commodity broking, investment banking, private equity and venture capital. Recently, it entered into the housing finance business by acquiring a 87.5 per cent in Maharishi Housing Finance Corporation. Religare has been promoted by the Singh family, which till recently owned Ranbaxy Laboratories.

“Religare is very pleased with the proposed joint venture and it is a clear recognition of our vast distribution capabilities in India and our domain expertise in the healthcare sector through our other group businesses,” said Religare CEO & MD Sunil Godhwani.

“Swiss Re’s interest in a health insurance joint venture is also a natural extension of leveraging our actuarial and underwriting expertise in the important Indian market,” said Christian Mumenthaler, Swiss Re executive board member and head of life & health underwriting.

In 2007-08, the country’s health insurance industry had collected Rs 5,100 crore in premium income. This segment has seen a compounded annual growth rate of around 40 per cent in the six years till 2007-08. It is one of the country’s fastest-growing non-life insurance segments.

Medical insurance contains  several options to choose,  All plans differ in their offerings that you have to pay, and how easy the services are to access. Below points will help you to determine the best medical insurance coverage.

Firstly, you will find that medical insurance plans are of two types:

1. Either that of compensation, which is basically fee-for-service plans.

2. Or managed care which is basically an agreement to have a certain doctor look after your needs.

With medical insurance under an indemnity plan, you will find that it will cost you out of your pocket. These medical insurance plans will not pay their share until they actually receive the bill from you. The best thing about this service is that you will have more options in your choice of doctors, including experts you may need during your medical treatments.

With managed care, you will have to pay fewer amounts, but you have restricted choice of doctors. This type of medical insurance will have agreements with many different health care providers to give you service at a reduced cost. There are some types of medical insurance plans that are indemnity plans but offer managed care options, as well.

Under managed care, you will find there are generally three different types:

1. The Preferred Provider Organization makes an agreement with health care providers to get lower fees for providing you with their service.

2. The Health Maintenance Organization offer many benefits, including preventive care, for one monthly fee.

3. POS- The Point-of-Service plan is also under the HMO and allows the individual the ability to see a specialist, as long as they are an approved provider of the coverage.