As you know, state health insurance exchanges were a large part of healthcare reform (PPACA). Each individual state was required by the law to set up these new exchanges, and have them ready for enrollment by October 1st, 2013. Some states have elected not to set up an exchange (deferring administration to the federal government). […]
Welcome back to another edition of “Benefits Chalk Talk.” Our biggest goal in this blog series is to help you understand all of the different tools (and planning strategies) that fund healthcare. By providing you with valuable, up-to-date, and relevant information… we’ll give you the power to put things in place that make the most […]
D is for: “Deductible” Deductible: is the initial amount of medical expenses an individual must pay before he or she will receive benefits under a medical expense plan. —————————————————————————————————————————————- Example: Plan Type: PPO Co-Payment: $30 primary care, $50 specialist Deductible: $3000 Coinsurance: 70%/30% Annual out of Pocket Maximum: $5000 In the PPO listed above, the deductible is $3000. The $3000 deductible must […]
The topic of this blog post is Short Term Disability Insurance. Think of this type of insurance policy as a “paycheck protector.” It literally insures a portion of your paycheck in the event that you find yourself disabled and unable to work. You insure your house, you insure your car… but do you insure your paycheck […]
Welcome back to another edition of “Phrases Made Easy.” Our intention with this series is to help make all of those long, drawn-out insurance phrases easier for people to understand. One of our biggest goals is to give our clients and potential clients the power to put the things in place that make the most […]
By now you’ve heard all about the “individual tax penalties” that apply to most Americans if they’re not carrying health insurance by January 1st, 2014. Back in June of 2012, the Supreme Court of the United States upheld the “individual mandate” based on the congressional power to regulate tax. What does this mean? It means […]
Today’s blog post is a general overview about all of the “tools” that are available to people to fund their healthcare. We’re also going to talk about the sources of these tools. One of our biggest goals is to help you understand the programs that are available, and where the access and funding of these programs […]
Welcome back to another post in our series called “Benefits Chalk Talk.” This series is designed to help people and employers better understand all of the tools that are available when funding their healthcare. Our biggest goal is to help our clients and potential clients put the things in place that make the most sense. […]
This is another post in our series called “Phrases Made Easy.” The purpose of this series is to help our clients and potential clients understand insurance jargon that has a tendency to be complicated. Consumer directed healthcare is an important concept that sounds difficult… but it really is very simple! We’ve selected this phrase for […]
C is for: “COINSURANCE” Coinsurance (or co-insurance): is the percentage of covered expenses under a major medical plan that will be paid once the deductible is satisfied. Said another way, it’s the portion of the bill that the policyholder is responsible for, once the deductible has been met. —————————————————————————————————————————————- Example: Plan Type: PPO Co-Payment: $30 primary […]