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.
Questions to help you gauge how much your family would need in the event of your becoming Critically, Chronically, or Terminally ill, or Dying.
Many historians believe the origin of volunteering came from the early colonists. To get through the challenges that come with relocating, support groups evolved to make it easier. Remember, they didn’t have the services we take for granted today. Families had to pack up, start farms and get through daily tasks on their own. Survival depended on helping each other out.
An Association Plan is group plan of individual policies with the intent to take an advantage of the “rule of large numbers” which in simple insurance terms means that the more people you have in a group, the the age and health risk factors of the individuals within the group are averaged out spreading out the risk and ultimately reducing the premiums compared to rating each person individually.
