Once you have Medicare Part A and Part B, you can now consider your options for additional health coverage under the Medicare system.
Traditional Medicare is sometimes preferred by Doctors and Hospitals for a couple of reasons. One is ease of use. With traditional Medicare, there are fewer pre-authorization requirements. Reimbursement rates are sometimes higher than with other Medicare plans.
Hospital Indemnity Insurance is insurance with a monthly premium. If you meet the conditions of the policy (like hospitalization or ambulance ride), the insurance pays you cash. You can use this cash to pay for things your health insurance doesn’t cover like copays, coinsurance, deductibles, living expenses while you recover,
Unlike health insurance, there are no networks. The plan pays cash to you to cover expenses.
Dental plans can be cheap, expensive, or in between. How do you know if you’re getting the best plan for your family? Below are several factors to consider before buying dental insurance.
Young adults, families with children, older adults – each situation is different and you may or may not need dental insurance. If you go to the dentist often or need expensive procedures, dental insurance might be a good idea. If you only go to get your teeth cleaned once or twice a year, a minimum of dental insurance might be best for you.
We all want to save money, especially on Health Insurance. The Health Insurance Marketplace has two ways to save money.
Ways to save on health insurance costs
There are two ways to save on the cost of health insurance:
Premium Tax Credits – Marketplace plans have set premiums. You can qualify for a discounted premium based on your income. The lower your income the more you save. This savings is called a Subsidy.
Cost Sharing Reductions – If you qualify for Cost Sharing Reductions and choose a Silver Plan, you may pay less for doctor visits, deductible and maximum out of pocket costs.
It’s that time of year. Open Enrollment is here.
It’s time to consider your options and choose a 2024 health insurance plan for your family. Here are some things to do if you are enrolling in the Health Insurance Marketplace for the first time:
Fill out an application, compare plans, and enroll in health coverage for 2024.
If you need help, talk to a licensed Health Insurance Agent. It’s a free service.
The Health Insurance Marketplace is the gateway to buying good health insurance for individuals and families.
The Marketplace decides how much discount each applicant will receive on their health insurance. This is based on zip codde, income, family size, age, and tobacco use.
Once the amount of discount is decided, you will choose your private health insurance plan based on benefits and total cost.
After COVID started in 2020, Texas Medicaid and CHIP went into “Continuous Enrollment.” Continuous enrollment allowed those already enrolled in these programs to stay enrolled. Enrollment continued regardless of circumstances. For example, if updated paperwork was requested but not turned in, enrollment would continue. Very few people were disenrolled from these programs during the Public Health Emergency/Continuous Enrollment.
Health Insurance has its own vocabulary. Here’s a vocabulary words about providers and networks:
Primary care provider (PCP) – A doctor who directly provides or coordinates a range of health care services for a patient.
Referral – A written order from your primary care doctor for you to see a specialist. In many health maintenance organizations (HMOs), you need to get a referral before you can get medical care from anyone except your primary care doctor. If you don’t get a referral, the plan may not pay for the services, and you will be responsible for the visit costs.
If you have health insurance at work, you can usually add your children to your plan as dependents. You can keep your children on your health plan until they turn 26. They may stay on your plan even if they’re married. But you can’t add their spouses.
The Health Insurance Marketplace is a federally managed service that helps find and compare health insurance policies. It is sometimes called the Affordable Care Act or ACA. This web site can be found at Healthcare.gov.
Whether you are enrolling yourself in a Plan or working with an agent (to make the process faster and easier), this information is needed to determine the best plan. Once you’ve chosen a plan, you’ll need this information again to sign up.
Shop smarter and avoid health insurance scams with this handy-dandy checklist. Get answers to these questions before buying. A licensed and certified agent will be able to answer each of these questions regarding health insurance. And, if it looks “too good to be true,” it probably is.
Though there are many things to consider when purchasing Health Insurance, Premiums are a top consideration. Other costs to consider are deductibles, co-pays, co-insurance and maximum out of pocket limits.
Michael and Leah have welcomed a new baby into the family. Some options for Health Insurance include adding the child to an existing Health Insurance plan, getting an individual or family plan through the Health Insurance Marketplace (sometimes called Obamacare) or they can apply for Medicaid or CHIP coverage. Once notified, Insurance companies may add a child to an existing Health Insurance policy if a child is a biological child, adopted child or stepchild. There may be an increase in premium.
Health Insurance can be complicated and a litle overwhelming. So many choices. So many people shouting. How do you know where to look or who to trust? Here are options available based on life situations.
