"Good
coverage at an affordable premium"
With
medical costs rising every month, almost all health plans are a PPO or HMO
Policy these days. These were designed to try to reduce the cost of health care
expenses and premiums for the consumer by giving the Insurance Companies
discounts for services when their Insured's used those facilities. They also
tried to help hold down the escalating costs of Dr's and Hospitals which when
rates increase, drive insurance premiums higher.
Another factor which has had a major effect on people regarding their health coverage has been the passage of The Health Insurance Portability and Accountability Act commonly known as HIPAA. The passage of this bill has helped those that had group coverage through an employer. When they left that employer and went to another, they did not have to satisfy pre-existing waiting periods again as long as the guidelines were met. That is what the law was originally meant to do.
HOWEVER, there were several other clauses in it that when it comes to
individuals, made it difficult in the end to obtain coverage. Especially in
Indiana.
Indiana said it interpreted
the law that there cannot be a waiting period longer than 12 months, which has
now been changed to up to 10 years, although most companies do not have that
option. They are filed differently with the state. It used to be that a condition
could not be excluded from coverage. With some companies it can now, up to 10
years. Some Insurance companies do not follow these guidelines but have
stricter ones that would make them cover a pre-existing condition after a few
months. They also can "rate up" a condition. Charging a higher
premium. With all these variables a lot of the
insurance companies now just decline a person altogether. This is why so many
people are being declined these days. The end result of the passing
of this bill has made it very difficult if not impossible
for many people to obtain health coverage. There now are different
guidelines by different companies.
Insurance Concepts Financial is contracted with many different
Insurance Companies which enables us to fit the company and plan to the person,
instead of trying to fit the person to the company or one particular plan.
We
carry stable, reputable, well known, and well managed companies to insure our
clients reasonable stable rates with excellent payment of claims.
We are able
through our many companies to help anyone obtain coverage, regardless of their
health background.
Some Links to Various Companies to get Quotes:
Some of the companies we are contracted with are:
UniCare
Mutual Of Omaha
Shenandoah Life
Medical Savings Insurance Company
Assurant Health
Time Insurance
American Republic Insurance Co.
John Alden
United American
Central Reserve Life
Connecticut General
Medical Mutual
World Insurance Co.
Specialty Risk International
Guarantee Trust Life
These are a few of the health insurance companies we are associated with.
Contact Us at: InsuranceConcepts@att.net
To Find out more complete the form below:
Major Medical Plans & Description of Different Types
1.
Traditional Major Medical
Plans:
Has deductible that you have to meet before company pays anything. (Intermediate Premium)
Pays a percentage ( 80/20; 70/30; 50/50) after the deductible until
“stop loss’ is reached, then pays 100 % to Maximum amount.
Total “out of pocket costs” are deductible + % or co-insurance amount.
2. Traditional Major
Medical Plans with “co-pays”:
Same benefits as above except, Dr Office visits are covered with just a
“co-pay”, without having to reach the deductible first.
(Higher
premium than Traditional) ( usually THE highest)
3. H.S.A. Plans: =
Health Savings Account:
a. Premiums are much lower than a traditional plan.
b. The company pays Nothing until after the deductible is reached
c. Then they pay typically 100% .
d. There is only ONE deductible per FAMILY not per person in most cases.
e. Any monies that you reposition into a savings account are a tax deduction
f. You earn, usually, 5% tax deferred interest for money in the account.
(Inexpensive
Plan with tax benefits)
4. “Limited” Major
Medical Policy:
*** Best value -- Most
reasonable premium
This Policy is a traditional Major Medical but has some limits
on Prescriptions, Dr visits, Outpatient services and annual maximums. A good,
conservative plan.
It is meant for those who need Major medical, but working on a limited budget or
are tired of paying High Premiums for Medical Insurance.
(
The Most Inexpensive plan )
** The new “Limited” Plan
is the most inexpensive. plan on the market today! **
Plans
in order of cost From Lowest premium to Highest
premium:
1.
“Value"
or "Limited” Major Medical & “RightStart HSA” Plan
2.
H.S.A.
Major Medical Plans
3.
Traditional
Major Medical
4.
Traditional
Major Medical with Dr office Co-pays
If your main concern is large
medical bills that are thousands of dollars or more, and you are not
concerned about the occasional Dr Visit, an H.S.A. Plan or “RightStart”
Major Medical plan may be your best option.
They will save you the most
premium dollars
**
Most people are going to higher deductibles as they did years ago to protect
themselves against the large medical bills and to save the most money they can
on health insurance.
*Remember,
the definition of Insurance is: “Protection against an unforeseen catastrophic
expense.”
***Call us at
317-838-0352 or 1-800-925-8672 and let us know which plans you have an interest
in and what best suits your needs.
We can discuss them further by phone.