Medical Insurance Plans - Health Insurance GA - On or Off the Marketplace Exchange
Getting cheap, affordable health insruance coverage is one thing but there are so many choices. What does it all mean? Let's talk about...Medical Insurance Plans.
What insurance plans meet your needs? There are many different types of health insurance!
• Individual Health Insurance
• Family Health Insurance
• Dental Insurance
• Short-term Health Insurance
• Medicare Supplimental
• Group Health Insurance
• Disability Insurance
• Long Term Care Insurance
• Student Health Insurance
• Life Insurance
But for now, let's talk about individual, family and group insurance.
There are many different health insurance PLANS! For example, there are:
• High Deductible Health Plan (HDHP)
• Health Savings Accounts (HSA)
• Health Reimbursement Arrangement (HRA)
• Health Maintenance Organization (HMO)
• Preferred Provider Organization (PPO)
• Point of Service (POS)
• COBRA (Consolidated Omnibus Budget Reconciliation Act)
Sound Confusing? You Bet!
So let's take this slow and figure it out! Here are some basic definitions of each plan. To be fair, there is much more to each plan. You can always contact us for specifics...so here we go!
High Deductible Health Plan (HDHP): A high-deductible health plan is a form of catastrophic coverage with lower premiums and higher deductibles than traditional health insurance plans. An HDHP can combine with an HSA or HRA that gives greater flexibility and tax advantages to save on medical expenses.
Wait a minute! What an HSA or HRA?
An (HSA) is aHealth Savings Account - Pays for current health expenses and save for qualified medical and retiree health expenses, tax-free.
Health Reimbursement Arrangement (HRA) - An employer-funded account to reimburse allowable medical expenses.
Wait a minute! What's the difference between a plan and an organization? Oh, you mean like an HMO or PPO! OK!
There are two basic types:
Health Maintenance Organization (HMO)
Preferred Provider Organization (PPO)
Health Maintenance Organization (HMO) - is a type of managed organization through hospitals, doctors, and other providers that offers prepaid insurance and maintenance care for you and your family.
Preferred Provider Organization (PPO) - is an organization of health care providers such as doctors, hospitals who join with an insurer or a third-party administrator to provide health care coverage at a substansial discount below their regularly-charged rates.
But Wait! What's a POS?
Point of Service (POS) - Is also a type of managed care organization. It combines the aspect of both HMO and PPO coverage. The primary difference is that you can choose your primary care physician. However, your choices are more limited in exchange for lower medical costs.
Confused? Don't worry! We'll help!
There is one other very important health insurance plan.
COBRA Alternative Insurance. COBRA is the Consolidated Omnibus Budget Reconciliation Act.
Why is it important?
These day, many people have lost their jobs and COBRA bridges the gap and allows you to keep you insurance and remain covered.
COBRA gives workers and their families who lose their health benefits the right to continue group health coverage provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. Qualified individuals may be required to pay the entire premium for coverage up to 102% of the cost of the plan.
But that's the problem! You may have to pay the entire premium and that is VERY expensive for you and your family. That's when we offer low cost, affordable COBRA alternative health insurance coverage.
No matter what coverage plan you choose from top health insurance companies, On or Off the Exchange Market Place, like Aetna, Assurant, BlueCross Blue Shield of Georgia (BCBSGA), Coventry Health Care (CVTY), Kaiser Permanente and United Healthcare in Atlanta, Alpharetta, Milton,Columbus, Savannah, Athens, Augusta and the rest of Georgia, just remember...
Don't just get a quote, Let us educated and guide you to the right choice.