Health Insurance Plans

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PBC Insurance Group

 

Health Insurance Plans – Know The Difference

Finding and understanding  today’s health insurance plans  can be very confusing; there are so many options to choose from that it is often difficult to make sense of it all. You do not want to be stuck with a plan that is not only very expensive but also does not cover you for all your out-of-pocket expenses! It doesn’t have to be this way. Talk to our experts about your current plan, your requirements and needs – we will not only guide you through the process and ensure you have the most comprehensive coverage, we will also ensure that you have the most affordable coverage. We save our clients a lot of money.

Major Medical

Major medical health insurance plans cover expenses associated with hospitalization and serious or critical illness. These plans usually have deductibles that have to be paid by the patient before the remaining costs are covered by the insurer. They are also subject to co-pays or co-insurance that have to be paid by the patient. In terms of the Affordable Care Act (ACA) you cannot be denied coverage for preexisting conditions. You can change ACA plans during Open Enrollment and after Open Enrollment if you have a Qualifying Event. Premiums can be high though you might qualify for a tax credit depending on your income .ACA plans are guaranteed issue and do not have preexisting limitation conditions.

Short-Term Medical

Short term medical insurance is not a substitute for a major medical plan that meets the minimal essential coverage as defined by the ACA. These plans, however, do provide temporary financial protection during unexpected coverage gaps for illness and injury while you are waiting for coverage to begin under an ACA qualified plan. To avoid the risk of penalty, apply for an ACA qualified plan as soon as you qualify. Coverage can last from 30 – 364 days if you qualify as underwriting is required. Premiums are typically much lower if you qualify. No benefits are payable for preexisting conditions. These plans are available year-round but are not guaranteed issue.

Supplemental Insurance

Supplemental plans cover you and your family with the extra costs of hospitalization and serious illness. They can cover deductibles and co-pays, help pay for room and nurse fees, transportation, unexpected child care and other expenses . Essentially these plans pay for expenses not covered by your primary health insurance policy and are available year-round. Reimbursements are typically paid directly to you. You are covered long as premiums are up-to-date the plan stays in effect. Premiums are low covering high out of pocket expenses such as deductibles.

 

          Contact us today to learn more about what coverage is available for you and your family right now