You don’t have to put off retirement due to health insurance costs. There are many affordable options for health insurance after corporate group insurance. Currently private health insurance plans consist of the Affordable Care Act Plans (most costly), Short Term Plans that offer coverage from 30 days to 12 months (soon to be 36 months) and Indemnity Permanent Plans with zero or low deductibles that provide unlimited hospitalization benefits. The advantage of private health insurance is that you can customize the plans to fit your needs and budget. Contact me with questions!
The Best Health Insurance Is the One You Rarely Have to Use
We often view insurance as a safety net for when things go wrong. But as your advisor, I believe the greatest value of your plan isn’t found in the claims you file, it’s in the illnesses you prevent.
The secret to maximizing your coverage is utilizing preventative care. Since the adoption of the Affordable Care Act, most private and ACA marketplace plans cover a suite of essential services at $0 out-of-pocket, such as blood pressure screenings, cholesterol tests and immunizations. These aren’t just “freebies.” They are early warning systems designed to catch issues before they become life-altering / expensive emergencies.
For my clients on Medicare plans, the Annual Wellness Visit is a golden opportunity. This visit focuses on creating a personalized prevention plan. It covers cognitive screenings and helps you stay ahead of age-related risks. All with no deductible or coinsurance.
Whether it’s a colonoscopy that stops cancer before it starts or a simple flu shot, these benefits are the most powerful tools in your policy. Remember, my goal is to keep you healthy and protected.
“I’ve got you covered from diapers to Depends™” but I’d much rather see you in the doctor’s office for a “wellness” check than a “sickness” one.
If you aren’t clear on the preventative benefits offered by your plan, schedule a review with me! Click here to access my calendar!
I need to pay for my own health insurance… what options do I have?
Today, many people are self-employed, losing their employer benefits or finding their employer benefits too expensive along with higher deductibles and decreasing benefits.
If you are in this situation, it can be a challenging and daunting task to find and understand the right health insurance option that will fit your coverage needs and budget. Going online can get you in trouble as you believe that you are getting a certain type of coverage and then when you go to use your insurance, it is not what you signed up for.
I would also caution you, that there are insurance companies and agents that will lead you to believe you are getting a major medical plan when the only major medical plans remaining in the market are Affordable Care Act (Obama Care) plans or employer group plans.
Currently, there are three types of plans available for private (or non-employer paid) health insurance.
Affordable Care Act (Obama Care) which is well suited for those individuals who have a pre-existing condition of which they are currently being treated to ensure that they are not without treatment.
Short Term Plans. These plans work well for people in transition, i.e., between jobs that offer employer paid benefits or needing a few months of coverage before moving into Medicare. These plans are currently offered for 3 to 6 months terms renewable for another 6 month term.
Hospital Indemnity Plans offer the best option for those looking for a permanent plan, in other words, one that is guaranteed renewable. These plans offer a set insurance benefit for medical services for hospitalization, surgery, doctor visits, well care and other medical services. Some plans have a zero deductible or you can choose a higher deductible. Your auto insurance is an indemnity plan, i.e., when in an accident, your deductible (should you have one) is deducted and then your benefit is applied to pay for the repair of your automobile… this process is per incident.
Don’t get caught with the wrong health insurance… for information or questions, please feel to contact me. And, by the way, if you are unhappy with your current health insurance plan, you are able to cancel at anytime and switch to another type of plan.
Anti-Fraud Efforts Meet Real-World Test During ACA Enrollment Period
Unauthorized switching of Affordable Care Act plans appears to have tapered off in recent weeks based on an almost one-third drop in casework associated with consumer complaints, say federal regulators. The Centers for Medicare & Medicaid Services, which oversees the ACA, credits steps taken to thwart enrollment and switching problems that triggered more than 274,000 complaints this year through August.
You Don’t Have to Wait…. for open enrollment, that is
Myth 1 – You can only get a health insurance policy during open enrollment which is Nov 1st – December 15th.
Many people don’t realize that there are numerous options outside of the Affordable Care Act (a.k.a. Obama Care) that they can enroll in 365 days a year. That means that if you are between jobs, getting a divorce, leaving a corporate job to start your own business or have just moved into a new state, you can have health insurance effective immediately.
From short term plans to a permanent plan with a rate lock on your monthly premium, there are many options available that will fit your needs and budget.
Are you concerned about what these options will cost? Most of these options are a fraction of the cost of an unsubsidized Affordable Care Act/Obama Care plan.
To receive your best return on your premium dollar spent, one should speak with a health insurance broker that specializes in Individual health insurance.
