HEALTH INSURANCE - YOU DO HAVE A CHOICE – WHAT ARE YOUR OPTIONS?
OPTION 1 – Pay the penalty – Buy nothing & hopefully no one gets sick.
OPTION 2 – Pay the penalty – It may be less than the cost of a Major Medical Plan per year. – Suggestion: Get an Indemnity Plan that at least pays you directly that you can afford
OPTION 3 – Get it through your job – BEST OPTION – because you’re only paying a portion no matter what it is – Suggestion: Add an indemnity Plan that pays you directly and helps cover deductibles and out of pocket expenses
OPTION 4 – Buy a Major Medical Plan – (Healthcare.gov, Blue Cross, Humana, etc.) – Pay out of pocket expenses yourself
OPTION 5 – Buy a Major Medical Plan w/ a High deductible & a low premium, then get an Indemnity Plan to help cover the deductible and out of pocket expense.
DO YOU KNOW THE PENALTIES
$95 or 1% of your income; whichever is greater
Example: If you earn $30,000/yr., your penalty will be $300/year/adult
HOW TO CHOOSE A HEALTH INSURANCE PLAN
Things to consider
1. If you are healthy
2. If you take medication
3. If you go to the doctor often
4. If you have children
Pay attention to:
Deductibles – out of pocket expense per year per adult (just like car insurance deductibles)
Co-Pays – what you pay for Doctor visits
Co-Insurance – your portions of the medical bill after the deductible is paid
Premium – monthly cost
Maximum Out of Pocket Expense – maximum amount you pay per year
WHAT DETERMINES THE COST OF MY HEALTH INSURANCE PLAN?
1. Age – the older you are the more expensive it is
2. Male or Female – Females pay more than males
3. Zip Code – certain zip codes pay more than others
4. Smoker/Non-smoker – smokers pay more than non-smokers
5. Income – This is not just your income, but household income
WILL THEY CHECK MY INFORMATION? YES, YES AND YES; SO TELL THE TRUTH
Any information will be verified by the IRS, Social Security Administration and Homeland Security
NEED A QUOTE, LET ME KNOW - YOU SHOULD KNOW YOUR OPTIONS - YOU DON'T HAVE TO BUY IT