The Basics of Selecting Group Health Insurance: Small Businesses Edition A business is only as strong as all of its employees. That is why small business owner should use these four tips when selecting appropriate group health insurance: Don’t settle for less Everyone wants to get the deal, the best “bang for their buck” or the largest discount available. When purchasing group health insurance, small business owners will want to play conservative and lean towards inexpensive plans. However, choosing any product solely on low cost may not be in the buyer’s best interest from a quality and customer service standpoint. Small business owners must take into account factors beyond price when selecting group health insurance for all of their employees. Cover all your bases Most individuals will not boast about their medical bills with joy. For this reason, a business owner must consider their employees and their needs. The type of plan and monthly premium to deductible ratio are vital components. Choosing between an HMO, PPO, or EPO can impact the savings of a company’s employees when dealing with medical expenses. Another deciding factor is the age-old debate of higher premium/lower deductible vs lower premium/higher deductible debate. Identifying the right plan can be the difference between spending minimal cash to maintain health or completely crushing a family’s monthly budget. Don’t just accept the terms and conditions, read them! Like any contract, there will be fine print and group insurance is no exception. Some insurance providers install cap limits on types of insurances they cover and some carriers will exclude specific conditions like maternity, etc. Small business owner want to ensure that all text be reviewed before finalizing the deal. Fully reviewing the overlooked details can also be of incredibly importance for a company if their employees live in various states …

I thought “robo call” season was over with the election for now! Welcome to open enrollment “robo call” season! We’ve personally received several calls and opted-in to hear what they’re offering. Be aware and cautious! We heard several “stretches of the truth,” to put it nicely. They tried selling us a plan through an “association” with a $100 fee attached, the plans didn’t comply with the Health Care Reform, had limited benefits, and when we asked to check out there website and email us details they said they didn’t have a website and wouldn’t email us quotes until we actually bought the insurance. Not a way to do business. We searched the internet for these “insurance agents” and found that they had 1000’s of complaints, multiple lawsuits, and even the Attorney General, in a handful of states, has gotten involved. Here’s how the call went down: The man on the line said he was calling from the “National Health Enrollment Center” and he wanted us to buy a short-term health plan, available from up to 37 different insurance companies for “around” $300 per month. A “Cadillac Plan” he called it, because it was “just so good.” What he was actually offering as our broker dug deeper and persistently asked questions was a bridge plan, with month-to month coverage. Our broker then asked for something in writing to overlook via email before he signed up, with an exact amount and what he was paying for. “Obamacare prohibits me from sending you anything in writing,” he stated. This is untrue. If an agent refuses to send you information or carefully go over a plan and make sure you understand exactly what you are getting, run. “Well, what about a website so I can look at it online?” The “agent” on the phone …

Need Health Insurance? Qualifying Events can Help! April and May are beautiful months for new life, butterflies, trees and flowers. However, it is not the ideal season for enrolling in health insurance. This year, November 1st is the beginning of “Open Enrollment”, a timeframe for individuals to freely shop and select a health insurance plan. Spanning over a three-month period, Open Enrollment comes along once every year with no exceptions. However, what if you’re in need of insurance now? You may be in luck as there are special circumstances, known as “qualifying life events,” that may allow you to sign up for coverage outside of Open Enrollment. Be sure to mark your calendar this year as Open Enrollment will last from November 1st to December 15th. Whether you’ve had a career change, become a parent or relocated to a new state/country, one or more of the various qualifying circumstances may apply to you. Life happens and considers these qualifying life events for gaining health coverage:     Qualifying Event Definition Suggested Documentation Loss of Employer Loss of employment, due to termination, reduction in hour or coverage no longer offered – Termination letter from employer – Current and previous pay stubs supporting reduced hours – Letter from employer stating no longer paying for insurance – COCC (Certificate of Creditable Coverage) – Renewal Letter No Longer a dependent Loss of employer or individual coverage because no longer eligible for coverage Carrier letter that documents loss of coverage, i.e. – dependent age maximum reached Change in Family Status Loss of coverage due to divorce, death, etc. Copy of divorce decree, death certificate, etc. Marriage   Addition of new dependent as a result of  marriage Marriage License or Domestic Partner certificate Birth, Adoption or Placement of Adoption Addition of new dependent as a result …

Everything You Need to Know About Open Enrollment What is open enrollment? Open enrollment is the period during which you can freely sign up for or change health insurance plans on the Affordable Care Act marketplace. After the open enrollment period ends, you’ll have to have a qualifying event in order to sign up or change plans. What is a qualifying event? A qualifying event allows you and your family to sign up for health insurance outside of open enrollment period if you experience certain qualifying life events. These events include marriage, childbirth, and other major happenings. What are the dates for the 2019 Open Enrollment Period? For 2019 coverage, open enrollment will run from November 1, 2018, to December 15, 2018 What is changing in the HealthCare marketplace? The Affordable Care Act still remains law. That being said, actions are being taken to dismantle it. This week, the Trump Administration issued new rules that 1) allow small businesses and individuals who are self-employed to buy association health plans and 2) allow association plans to sell insurance across state lines. What does this mean? It means that more people could have access to these plans – plans that are exempt from the ACA’s key provisions such as the inclusion of the 10 essential health benefits. Ambulatory patient services (outpatient services) Emergency services Hospitalization Maternity and newborn care Mental health and substance use disorder services, including behavioral health treatment Prescription drugs Rehabilitative and habilitative services (those that help patients acquire, maintain, or improve skills necessary for daily functioning) and devices Laboratory services Preventive and wellness services and chronic disease management Pediatric services, including oral and vision care Who is eligible to enroll? Anyone can shop for plans on the marketplace. Certain families are eligible for subsidies to lower the cost of health …

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