The health insurance industry has changed dramatically in recent years. The Affordable Care Act of 2010, also known as “Obama Care” has changed the way individuals and businesses shop for insurance. For some, the Legislation has dropped insurance costs through coverage on its subsidized healthcare exchange. However, most other have seen the cost of their health care skyrocket, employer sponsored plans cancelled in record numbers and above all, confusion.
Individuals just aren’t aware that health insurance just can’t be purchased when the need arises. That’s right! Without life changing or “qualifying events” people cannot just buy insurance when the need occurs. People must now shop the Maryland Health Connection (for MD residents and the federal site for most other states) for subsidies during the Open Enrollment period usually ranging from November 15th to February 15th every year. Those not eligible for the subsidies have to reason to go through the exchange and can shop directly with a carrier.
The right coverage for you. In an individual policy, you get health coverage that’s tailored for you. Most carriers will offer at least a dozen different healthcare options per individual. They include many types of coverage with rates ranging from the lowest to the highest price. Most often the plan options have little nuances that are intended to trick the consumer. What you should know? The insurance company is a money-making for profit entity whose goal is to make a profit. Don’t try to outsmart the insurance company – they will always win. Health Insurance is protection against the unknown…even if you have been healthy with no prior medical issues in the past – it’s not always a good indicator of the future. A good rule of thumb – the more money you pay per month as part of your premium, the more first dollar coverage that will begin immediately. On the contrary, the less money you pay as part of the premium – the more money you will pay before your health insurance kicks in.
Coverage you can keep. Leave a job and you leave behind your employer-sponsored coverage. But with an individual policy, you can go wherever your career path takes you – and your health insurance comes with you. For many people, individual health insurance makes more sense. And for less than you think, you can get a comprehensive health insurance plan designed to fit your needs.
Types of Health Policies
A general idea of the plan types
Preferred Provider Organization (PPO) Plans are a popular choice for people who value flexibility. A form of managed care, PPOs give you the most savings when you get care from a doctor, hospital or other provider within the plan’s “network”. But even if you do choose to receive care from outside the network, your PPO still provides some coverage.
Health Maintenance Organization (HMO) Plans are also a type of managed care, and offer you even greater savings. The tradeoff is your choices are more restricted. To get coverage from your HMO policy, you must choose a “Primary Care Physician”, and you must always get care from approved “in-network” providers. For most people, this is a small drawback compared to the affordability of HMOs – which often feature no deductible.
Point of Service (POS) Plans combine managed care with traditional health coverage. Just like an HMO, you select a Primary Care Physician to see for routine care. But when you need to see a specialist – or get a second opinion – you’re free to see any doctor you choose.
Dental insurance is often considered a luxury item; too expensive with too little benefit for the average American. Many had coverage through an employer or had an individual policy and either never used the coverage with the misconception the benefits were not worth the price and aggravation of applying and paying the monthly premium. Even scarier many never go to the dentist out of fear! Unfortunately, studies show not treating dental issues can lead to greater medical issues down the road. Fortunately, quality dental insurance can be obtained for as low as $10 per month with most cases. Applying takes less than 10 minutes and can be completed electronically.
Contact us for details about dental insurance.
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