There are two basic types of plans.
Traditional plans, which often have low copayments for regular visits, and High Deductible health plans.
Traditional plans are what many people used before healthcare reform. They had copayments
(a small amount due at the time of service) for regular Dr. visits and medications. They have
a deductible and coinsurance for unusual things like MRI’s, CT Scans, and hospital visits.
These plans tend to be more expensive every month, but generally require a smaller portion
to be paid by you when a claim happens.
High Deductible health plans are paired with a tax-protected savings account called a Health
Savings Account or HSA. These plans require that your deductible come first unless it is a
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A survey conducted by Anthem Life Insurance Company suggests that one in three millennial workers turned down a prospective job offer either due to insufficient health insurance coverage or none being offered at all.
As more millennials are entering marriage and purchasing homes, etc., concerns are shifting. Disability coverage is now part of the conversation and if employers are not offering it, many potential workers will keep walking. In addition, as millennials begin to start families, health insurance coverage, beyond the basics, is also important. Protecting themselves and their families become the forefront. Vision and dental are no longer looked at as optional add-ons, employees want to know they will have the coverage they need, or a loved might need to ensure peace of mind.
The Anthem survey also found that millennials are more likely than older workers to have engaged in long-term financial planning over the past year. Twenty-nine percent of millennials responded that they have conducted long-term financial planning, compared to 19% of 35 to 54-year-olds. (Anthem Life Insurance Company, March 2017)
If you missed the Open Enrollment period and have had a “life” event, read on.
Did you know that certain life changes may qualify you to enroll in health insurance coverage outside of the standard enrollment period?
Did you or anyone in your household lose qualifying health coverage in the last 60 days? If so, you would qualify for the special enrollment period.
Here are some other examples of qualifying events:
- Birth of a child
- Gained or became a dependent
- Divorce or legal separation resulting in loss of health insurance
- Change in income
- Change in zip code/primary place of living
- Denied Medicaid or CHIP
- Gained citizenship in the United States
- Released from incarceration
If any of these apply to you or your family, please give us a call for a quote today!