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 […]
Welcome back to another edition of Phrases Made Easy. This series at our blog takes all of those long, drawn-out insurance phrases and turns them into concepts that are easy for people to understand. Today we’re going to be talking about the “FPL” or “Federal Poverty Level.” The reason that we want to discuss this […]
An insurance plan that pays you cash when you get sick or hurt, right? You got it. That’s the exact concept behind supplemental health insurance. In this blog article… we’re going to describe supplemental health insurance, talk about the different policies that are available, and explain exactly where it fits in. Here are some examples […]