Because life is so unpredictable, you need a medical coverage that will be there to catch you when you fall. If you are under 65, you need Health Insurance. You have two options: Short-term Major Medical and Qualified Health Plans. The first option covers 12 months and can be extended up to 36 months. This plan is a good plan if you are about to move or are in between Qualified Health Plans. It is less expensive, and it has a large network of doctors your insurance covers. However, this short-term plan does not cover pre-existing conditions, maternity, or mental health visits. The Qualified Health Plan is a long-term insurance plan that covers all the above-mentioned visits and more. Because this plan covers more types of visits, it is more expensive than the short-term and it has smaller regional networks of doctors you can use.
Click Here for a Comparison Chart for the two options.
Are you about to turn 65 or older? You are now eligible for Medicare! Medicare is a federal healthcare program that covers most of your medical needs. Depending on those needs, you must choose either the Medicare Advantage Plan or the Medigap Plan. The Medicare Advantage Plan includes Lower Premiums, higher out-of-pocket expenses, Part D, and a limited regional network of doctors to be covered under. The Medigap Plan includes higher premiums, lower out-of-pocket expenses, no network of doctors, and no Part D.
Medicare is broken down into 4 parts: A, B, C, and D.
Part A covers hospital stays.
Part B covers outpatient services.
Part C covers private insurance.
Part D covers prescriptions.
For a more in-depth explanation of these Parts and the two plans, Click here to see out Medicare Brochure.
If you are a business owner, Group insurance would be worth checking into. This insurance is cheaper than individual health insurance, and you have access to a larger PPO network (network of doctors that is covered in the plan).
All you have to do to qualify is have at least two people (including yourself) and be able to prove that you are a business with employees. You can prove this by any of the following documents: payroll record, copies of w4s, proof of business- articles of inc, partnership documents, certificate of formation, articles of organization.
If you a Qualified Health Plan, you may be receiving limited coverage for your children who are 18 or younger, but adults must get a separate vision and dental plan to get your bills covered. If you have Medicare, keep in mind that original Medicare does not cover the following dental things: routine cleaning, exams, X-rays, extractions, dentures, and root canals. These procedures can be costly in out of pocket expenses. Medicare also does not cover the following vision things: vision exams, eyeglasses, and hearing exams/hearing aids. You do not want to have to pay for this all yourself. Give us a call and we can get you some Dental/Vision insurance.