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Compare health plans using the benefits summary or coverage outline for each plan that you are considering and choose the plan or plans that has the benefits that are most important to you and your family. Look at the information closely and think about your personal situation. For instance, if you're no longer planning to have children, you won't mind that certain pregnancy-related services aren't covered. But you might be concerned if there's no physical therapy health benefit to help pay for your therapy sessions. Save money on premiums, if necessary, by taking large deductibles and paying smaller costs out-of-pocket.
What If You Could Buy Health Insurance That Could Do The Following?*
Is a HDHP - High Deductible Health Plan with a HSA - Health Saving Account right for you?
*See IRS regulations for complete details and view your Health Insurance policy for specific coverage's and terms and conditions. Information for educational purposes only - not responsible for inaccurate information.
HSAs - Health Savings Accounts are the latest consumer-choice strategy for managing the rising costs of health care expenses. HSAs - Health Savings Accounts allow individuals and families who have a qualified HDHP - High Deductible Health Plan to put aside money in a tax-exempt HSA - Health Savings Account to cover qualified medical expenses. Individuals who purchase or enroll in an HDHP - High Deductible Health Plan can make a pre-tax annual contribution to an HSA - Health Savings Account of up to $2,600 with families allowed a maximum contribution of $5,150. Some restrictions apply. These amounts are set by federal law and are subject to change. Employers may make part or all of these allowable contributions on behalf of their employees and covered dependents only if they are enrolled in a qualified HDHP - High Deductible Health Plan and meet all other eligibility requirements. HDHP - High Deductible Health Plans are defined as health plans with at least a $1,000 deductible for individuals with an out-of-pocket maximum of $5,000 or a $2,000 deductible for a family with an out-of-pocket maximum of $10,000 (including deductible, coinsurance and co-pay amounts). Qualified medical expenses are any health care costs as defined by the Internal Revenue Code (IRC Section 213(d)) that are not covered by insurance. For employees, an employer must offer an HDHP - High Deductible Health Plan that is compatible with an HSA - Health Savings Account. HSA - Health Savings Account advantages include:
A HSA - Health Savings Account is a health care saving account. It can be open by any individual or family that has a qualified HDHP - High Deductible Health Plan and meets all other eligibility requirements. HSAs - Health Savings Accounts are tax-exempt (do not have to pay taxes on account gains) and the contributions are pre-tax. The money in a HSA - Health Savings Account can be used to cover qualified medical expenses. HSAs - Health Savings Accounts are designed to allow you to cover small expenses (such as office visits) with tax free money - and allow the HDHP - High Deductible Health Plan covers major expenses such as hospitalization and other surgeries.
No, HSA - Health Savings Account plans are available to everyone that has a HDHP - High Deductible Health Plan.
We recommend checking with your local credit union, bank or other saving institution. You are not required to open the savings account side - but if you want to take advantage of the tax savings, it is highly recommended.
HSA - Health Savings Account contributions are tax-deductible, similar to contributing to an IRA, etc. You receive an ATM card with the Visa / Master Card logo, or checks. When you have medical, dental, or other expenses - you simply use the tax free money you have contributed to your HSA - Health Savings Account. This is great for office visits, prescriptions, meeting high deductibles, dental expenses, over the counter medications, and much more. Consult the IRS publication concerning what qualifies as an HSA - Health Savings Account expense.
Do not confuse this with the savings account option you may have had available at work - this is different. This money grows interest tax-free, and never expires. Should you eventually go back on a group plan, or change to a non-HSA - Health Savings Account plan - your money will continue to grow (although future contributions may be prohibited).
The amount is up to your deductible amount and in 2004 was a maximum of $2600 for a single party, or $5150 for multi-party. You can also contribute $0 - if you wish. Contributions are not required, and are controlled by the HSA - Health Savings Account owner - we will never consult you on saving into your HSA account.
Yes. As you may have noticed, Individual Health Insurance in Texas does not cover the cost of maternity. However, if you have some discipline and contribute to a HSA account - you can pay for maternity expenses with your HSA- Health Savings Account money (tax free). This can provide you substantial relief if utilized properly.
No. You simply apply for a HDHP - High Deductible Health Plan. If you are approved, you will then be able to open tax-exempt HSA- Health Savings Account (if you choose).
This information provides general information only and is not intended to be a substitute for the advice of a qualified tax professional. If you are considering an HSA, you should consult a qualified tax advisor who can evaluate your particular needs and circumstances.
Back to TopIn today's market, more people than ever need short-term medical coverage. We offers Short-Term PPO Plans for both individuals and families. If you qualify, this plan provides immediate coverage and is ideal if you are:
A Short-Term Health Insurance Plan provides coverage for a minimum of 30 days and up to a maximum of 180 days based on a per-member, per-day rate. The plan may start and end on any day of the month.
Short Term Medical offers a quick and easy way to protect you and your family from the financial hardship of unexpected illness and injuries with quality affordable temporary health insurance.
To get a free, no-obligation quote and more details about our affordable, flexible temporary medical insurance plans, click here Instant Quote.
Back to TopThese plans are intended only for people age 65 or older, who are enrolled in both Parts A and B of Medicare.
Compare rates with other plans offered in your state and find a good choice for seniors like you. Our partners offer comprehensive coverage, fast and attentive customer service, with affordable rates
Acceptance of your application is guaranteed if you are 65 or older and apply within six (6) months of your initial enrollment in Part B of Medicare. You must already be enrolled in both Parts A and B of Medicare to apply for these plans. Acceptance for this coverage is also guaranteed if you are transferring from certain non-Medicare supplement plans. There is no waiting period for pre-existing conditions. Insurance companies may reduce or waive the pre-existing condition limitations during the open enrollment period.
When it comes to Medicare, it is important that you know both sides of the story, and understand the advantages and disadvantage of relying solely on Medicare to provide for your healthcare needs.
Though Medicare covers many health care costs, there are many medical services that Medicare does not cover. If you understand how Medicare works, you will find out that there are healthcare costs that Medicare either does not pay in full or does not pay at all. If you want services not covered by Medicare, you must pay all the bills.
Most insurance companies will send an annual notice to you 30 days prior to the effective date of Medicare changes, which will describe these changes and the changes in your Medicare supplement coverage. Insurance companies may also change premiums due to changes in Medicare.
Medicare Part A (Hospitalization)
Medicare Part A covers some of the costs associated with hospitalization and some costs associated with skilled nursing following hospitalization. While Medicare provides some basic coverage for both hospitalization and skilled nursing, there are gaps-gaps that Medicare doesn't cover. That gap can result in thousands of dollars in costs that you are expected to pay.
Medicare Part B (Medical Expenses)
Medicare Part B covers some of the costs related to physician services, outpatient care, tests and supplies. The costs not covered leave a gap that can also result in thousands of dollars in cost that you are expected to pay.
Note: Some companies may charge a one-time non-refundable processing fee will be added to your initial premium.
Back to TopNot really. Even if you're young, healthy and haven't had to see a doctor in years, you never know when you might be involved in an accident or be diagnosed with a serious medical condition. While your health insurance coverage will pay for things that aren't too costly like routine doctor's visits or lab tests, the main reason to have health insurance coverage is to have protection against the potentially catastrophic expenses of serious illness or injury. Health insurance is one type of insurance you're pretty much guaranteed to use. We all need medical attention from time to time, and some of us need it quite frequently. When care is needed, you want to focus on getting better not on how you're going to come up with the money to pay your medical bills. A good health insurance plan allows you to focus on what's most important, your physical well being.
A High-Deductible Health Plan (HDHP) is a health plan that meets certain federal requirements in terms of annual deductibles and annual out-of-pocket expenses maximums. Plan is designed to lower your month premium by requiring you to be responsible for higher deductible.
A Health Savings Account (HSA) is a savings account established exclusively to pay for medical expenses of the individual or family who has contributed to the account while covered under a High- Deductible Health Plan. In order for individuals or families to qualify for a Health Savings Account (HSA), they must be enrolled in an HDHP.
If you knew you might die next year, would you want more life insurance than you now have? If so, now is the best time to do something about it. When you die, your love ones will only receive what you leave them. If you have enough assets to help them pay for their food, shelter, education, transportation, and allow them to maintain their current lifestyle, then you may not need life insurance. If not, is it a risk you want your family to take? If you had a money making machine in the attic that you could use to legally print enough money to cover the expenses of your current lifestyle every month, would you insure it? Yes you would. Like it or not, you are a money making machine for your family and you need life insurance.
Your life insurance should generate enough money monthly to cover your family's monthly expenses when invested conservatively for a selected period of time or for the expected lifetime of your heirs.
Back to TopAgent: Advisors who work with you to assess your insurance needs and help plan for long-term financial security and stability.
Balance Billing: A bill for the difference between what your insurer will pay and what the physician charges for a service.
Cobra: Consolidated Omnibus Budget Reconciliation Act of 1986. Terminated employees or those who lose coverage because of reduced work hours may be able to buy group coverage for themselves and their families for limited periods of time.
Coinsurance: The amount you are required to pay for medical care in a fee-for-service plan after you have met your deductible. The coinsurance rate is usually expressed as a percentage. For example, if the insurance company pays 80 percent of the claim, you pay 20 percent.
Coordination of Benefits: A system to eliminate duplication of benefits when you are covered under more than one group plan. Benefits under the two plans are usually limited to no more than 100 percent of the claim.
Copayment: A way of sharing medical costs. You pay a flat fee every time you receive a medical service (for example, $10 for every visit to the doctor). The insurance company pays the rest.
Covered Expenses: Most insurance plans, whether they are fee-for-service, HMOs, or PPOs, do not pay for all services. Some may not pay for prescription drugs. Others may not pay for mental health care. Covered services are those medical procedures the insurer agrees to pay for. They are listed in the policy.
Deductible: The amount of money you must pay each year to cover your medical care expenses before your insurance policy starts paying.
Exclusions: Specific conditions or circumstances for which the policy will not provide benefits.
FamilyFlex: Give you the option to choose different health plans for each member of your family depending on their individual coverage needs. Allows you to customize your family's coverage and get the protection you need at a price you can afford.
Fee- for- Service: Payment agreements for health care in which the provider is paid for each service, rather than a pre-negotiated amount for the patient.
HIPAA: Health Insurance Portability and Accountability Act of 1996. It is designed to protect health insurance coverage for workers and their families when they change or lose their jobs.
HDHP (High-Deductible Health Plan): A health plan that meets certain federal requirements in terms of annual deductibles and annual out-of-pocket expenses maximums. Plan is designed to lower your month premium by requiring you to be responsible for higher deductible.
HSA (Health Savings Account): A savings account established exclusively to pay for medical expenses of the individual or family who has contributed to the account while covered under a High- Deductible Health Plan. In order for individuals or families to qualify for a Health Savings Account (HSA), they must be enrolled in an HDHP.
HMO (Health Maintenance Organization): Prepaid health plans for which a premium is due each month. The HMO covers your cost of care to see a doctor within their working network at pre-negotiated rates. You are required to choose a primary care physician who takes care of you and makes referrals to any specialists you may need. If you, as an HMO member, use doctors, hospitals and clinics that do not participate in your plan's network, you may be required to pay the cost of those medical services.
IPA (Independent Practice Association): An independent group of physicians who unite with an HMO to offer services for the HMO members.
Lifetime Maximum: The maximum percentage of benefits available to a member during their lifetime, in which, all benefits served are subject to this limit unless stated as unlimited.
Managed Care: The way a health care system manages costs, use, and quality. All HMOs and PPOs, and even many fee-for-service plans, apply managed care techniques.
Maximum Out-of-Pocket: The maximum amount money you will be required pay a year for deductibles and coinsurance. It is a stated dollar amount set by the insurance company, in addition to regular premiums.
MSA (Medical Savings Account): A tax-advantaged personal savings account used along with a high deductible health policy. You may deposit money into this account on a pre-tax basis to set aside money for medical care and expenses that qualify, including annual deductibles and co-payments.
Noncancelable Policy: A policy that guarantees that you will receive insurance as long as you pay the premium. This is also known as a guaranteed renewable policy.
Out-Of-Pocket Maximum: The highest amount of money you will pay in a year for deductibles and coinsurance plus regular premiums.
Point-Of-Service (POS) Plan: A certain managed care plan combing features of health maintenance organizations (HMOs) and preferred provider organizations (PPOs). You may choose whether to go to a network provider and pay a flat dollar amount or to an out-of-network provider and pay a deductible and/or coinsurance charge.
Pre-existing Condition: A health problem that existed or was treated before your insurance became in effect. Most health insurances have a pre-existing condition plan that describes under what conditions they will cover medical expenses that relate to a pre-existing condition.
PPO (Preferred Provider Organization): A network of health care providers that offers medical services to health plan members at a discounted cost. PPO members usually make their own decisions about their health care instead of going through a primary care physician like an HMO member. The costs to use physicians within the PPO network are less than using a non-network provider.
Premium: The amount you must pay in exchange for health insurance coverage.
Primary Care Physician: Under a health maintenance organization (HMO) or point-of-service (POS) plan, a primary care physician is often the first contact for health care. It is usually a family physician, internist, or pediatrician. A primary care physician makes referrals to specialists if necessary.
Provider: Any person (doctor or nurse) or institution (hospital, clinic, or laboratory) which is certified, that provides medical care.
Third-Party Payer: Any payer for health care services other than you. This can be an insurance company, an HMO, a PPO, or the Federal Government.
Underwriting: Once you have selected an insurance carrier your application will be submitted for underwriting. Your application will be reviewed for completion and it will be closely monitor through the sometimes lengthy and complex underwriting process. There are only four possible results of this process:
NEVER CANCEL AN EXISTING POLICY - All insurance policies are subject to underwriting and therefore you should wait until your new policy is in effect before canceling any current policies.
Well Baby: Health services, which include immunizations provided by the member's participating medical group, up to a certain age as specified by the carrier. This benefit is usually provided in HMO plans and/or POS plans. The level of benefit will vary for PPO plans if specified as a benefit.
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