No. The ACA does not force individuals, families, and businesses to purchase health plans through health insurance marketplaces. The marketplace supposedly helps individuals and small businesses purchase “low-cost” health plans. In reality, these plans may not meet you and your family’s health care needs, which is why a custom health plan may be the best choice.
No. An independent Texas health insurance agent is paid a commission by the health insurance company. No extra fees should be added to your health insurance cost.
No, Part B (which covers doctor visits) is optional. If you have other coverage, you probably do not need Part B. However, Part B is important if you do not have other coverage. Note also that Medicare Part C plans (also known as Medicare Advantage plans) include the coverage from Parts A, B, and usually, D. So, if you have Medicare Part C, you do not need A or B.
No. The ACA does not force small businesses to participate in the SHOP marketplace. Companies are free to buy insurance in the private market, but for a large number of small businesses, the cost of group health insurance premiums remains too high to offer health benefits to new employees. The intent of the SHOP marketplace is to improve access to affordable health care for small-business employers and control the rising cost of group health insurance premiums.
However, due to Obamacare changes, many employers are instead seeking Defined-Contribution plans as a more affordable insurance solution. As a small-business owner, you can choose to purchase a custom group health plan that better suits the needs of your employees and the financial realities you face. For instance, if your company lies near the 50-employee threshold – and you plan to expand in the next few years – the SHOP marketplace will do you no good. You will need a more comprehensive solution. Managing the cost of group health insurance for your small business is certainly a huge challenge today.
For the foreseeable future, the ACA is the law of the land, so to meet your company’s health insurance needs you will need to understand how the law affects small businesses. To determine if a Group Insurance plan is right for you, please see our Group Insurance plans page. There are a variety of plans available that will help you meet your business’s specific financial and benefit level requirements.
Contact us today to get expert advice about which group insurance option is best for you, or compare group insurance plans right now to get started.
If you have lost your job – there are affordable Short Term Health Plans which are typically less expensive than COBRA coverage.
You should remember that is it easy to confused yourself with the difference between defined-contribution plans and health savings accounts (HSA). This confusion may stem from the fact that defined-contribution plans also go by the name health reimbursement accounts (HRA).
HRAs are defined-contribution health plans that do not have the same legal restrictions as HSAs. HSAs are a special kind of tax-deductible savings account that you should only use to pay for health care expenses. In fact, the ACA places an annual cap on the maximum amount individuals can deposit into an HSA.
There are two ways that seniors who are no longer on an employer health plan can get coverage for prescription medications: Medicare Prescription Drug Plan (Part D), or a Medicare Advantage Plan (Part C) (like an HMO or PPO).
The HSA money can be used for any out-of-pocket medical expenses, such as the deductible, co-payments for medical care and prescription drugs, or health care bills not covered by medical insurance, such as vision and dental care.
Applying for Short Term Health insurance is usually a very simple procedure, and typically does not involve a medical exam. In many cases, you can sign up for Short Term coverage today and have coverage by tomorrow. Contact us today to get started on a plan that is right for you!
The first rule for shopping for online Dallas health insurance is to level the playing field by making sure that you are comparing policies with corresponding levels of coverage. Make sure that you will be able to go to a physician you like, and that any particular health needs you may have will be covered, like chiropractic, homeopathic physicians, physical therapy, eye sight, dental, etc.
If you have a limited budget but substantial needs, it might be helpful to prioritize your most important health services in the form of a list. For instance, maybe you have a disease of the eyes and eye care is substantially more important for than for someone else. Maybe you take a lot of prescription medication or require frequent x-rays for an old injury.
Maybe a health savings account is especially important to you. Once you can identify what is most crucial for your health needs then you can better evaluate the policies offered online.
Our health insurance advisors can get you started right away with a Short Term Health insurance quote. Then you can decide on the policy and duration of coverage. Use our quoting engine below to get Short Term Health insurance today:
The ACA helps individuals and small businesses buy health insurance in two ways. For those who qualify based on income and household size, the ACA gives tax credits to help pay monthly premiums. Also, for those who qualify, the ACA gives subsidies to help pay out-of-pocket costs for those who still cannot afford to buy health plans through a health insurance marketplace.
HSA administrators usually set up savings accounts that can be accessed with a debit card for medical expenses. However, some health savings account plans allow larger balances to be shifted into mutual funds and other investments.
Short Term Health insurance policies can be as short as 30 days, or as long as 11 months. Any longer than that is considered a regular long term health insurance policy. Short Term Health Plans are designed to be highly flexible, filling the gaps in your long term insurance coverage.
To get the best affordable individual health insurance plans, it is a good idea to gather about five quotes from different insurance companies or different coverage levels to make sure that you are getting the best price for your needs.
The extra time is worth it, Health insurance, like buying a house or a car, is not a purchase to take lightly. How much money can be deposited into a health savings account plan annually?
The Internal Revenue Service sets the contribution limits for HSAs. In 2014, the maximum contribution is $3,300 a year for individual coverage or $6,550 for family coverage. People age 55 and older can save an additional $1,000 per year.
The Internal Revenue Service sets the contribution limits for HSAs. In 2014, the maximum contribution is $3,300 a year for individual coverage or $6,550 for family coverage. People age 55 and older can save an additional $1,000 per year.
Yes, as long as you are covered under a high-deductible insurance policy you are allowed to start a health savings account, even if the money is not “income,” per se. You can use personal savings or investment dividends to contribute to your health savings account instead.
No, you must be covered under high-deductible insurance to be eligible for a health savings account.
No. As a small business owner, defined-contribution health plans allow you to compensate your employees differently. You do not have to contribute the same amount to every employee, which gives you a better way to tailor your reimbursements to your employees’ health insurance needs. There is no such thing as a one-size-fits-all health plan, and some employees may require a greater contribution to afford coverage than others.
Defined-contribution plans give you a different way to manage your health insurance costs. These frequently asked questions will give you a solid foundation when speaking with an insurance specialist. Your business could benefit significantly from a Defined-Contribution Plan.
Contact us today to get expert advice about how to save money on insurance for your organization, or compare insurance plans right now to get started.
No, the account can remain where it is and be accessed for qualified expenses regardless of where they are incurred.
Here are few examples ideal for purchasing Short Term Health insurance coverage:
Purchasing Texas small business health insurance is a complex process and requires substantial knowledge of many issues. Online stores are generally automated to handle huge numbers of transactions, and therefore will try to simplify the choice for you, which may be very helpful. On the other hand, especially if this is your first time purchasing Texas health insurance, online stores may make you feel more like a number than like a client. This is especially true if you have unique medical needs, substantial preexisting conditions, or a complicated medical history.
If this is the case, see if the website has a phone number and try calling it. Ask the operator your questions and only purchase from them if you are pleased with their service.
Short Term Health insurance has a simplified Underwriting process. Your answers on the application determine whether or not the policy will be issued. Contact us to find the right carrier for your needs.
Ideally, the federal government’s marketplace allows you to price-compare health plans from private insurers and also awards tax credits and subsidies afterward.
But you can use the marketplace to see if you qualify for Medicaid in your state, or any other government-sponsored health insurance program such as Medicare, CHIP for children, or TRICARE for military families.
The annual contribution limit for FSAs is $2,500, which is for an individual or family. The limits for an HSA are higher. So if offered a choice between an HSA and an FSA, it may make sense to switch to the HSA. Even if the health plan would have a higher deductible with the HSA, more pretax money can be set aside, the premium will undoubtedly be less and, if not used, the account can roll over into future years.
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