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Why You Need Health Insurance: - HealthCompare
 

Why You Need Health Insurance: - HealthCompare

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Are you lost in the maze of confusion information about the price and cost of health insurance and health insurance plans? The experts at HealthCompare put together some slide to help you through the ...

Are you lost in the maze of confusion information about the price and cost of health insurance and health insurance plans? The experts at HealthCompare put together some slide to help you through the health insurance clutter and make finding the right affordable health insurance easy. HealthCompare.com provides Affordable Health Insurance Quotes and makes it easy to buy Individual Health Insurance, Family Health Insurance and other Health Insurance Plans. http://www.healthcompare.com

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  • As I mentioned, we work with the largest selection of insurance companies. On our site there is a list of companies we currently represent. Did you realize there were hundreds to choose from? It is nice to know that we are checking with ALL of these companies to find you the right plan and not just two or three, isn’t it? Of course it is.The information I will go through should answer most of your questions,  

Why You Need Health Insurance: - HealthCompare Why You Need Health Insurance: - HealthCompare Presentation Transcript

  • So you need to find health insurance…
    You may not be thrilled, you may even
    feel a little lost, but that’s okay. . .
    We’ll guide you through everything…
    HealthCompare.org
  • Take a look, we will help explain your options:
    • Group Insurance
    • Managed Care Plans
    • COBRA
    • Indemnity Plans
    • Health Maintenance Organizations (HMOs)
    • Preferred Provider Organizations (PPOs)
    • Short-Term Health Insurance
    • High Deductible Health Plans (HDHPs)
    HealthCompare.org
  • So let’s get started!
    But first things first…
    HealthCompare.org
  • HealthCompare.org
  • Health insurance usually comes from one of two
    places:
    • Full-Time Employers
    • A Family Member’s Group Plan
    …So what does this mean?
    HealthCompare.org
  • You can lose health insurance if:
    • You lose your full-time job.
    • Your hours are reduced from full-time to part time.
    • If your family member lost the Group Plan you were carried under.
    • You no longer qualify for your family member’s Group Plan
    HealthCompare.org
  • Lost your insurance?
    • Research your options
    • Talk to your previous carrier
    • Search online at HealthCompare.org
    HealthCompare.org
  • Whatabout COBRA?
    (Consolidated Omnibus Budget Reconciliation Act)
    • It allows for an extension of coverage through your previous Group Health Plan for a specified length of time.
    • WARNING: The premium is usually higher than if you sought insurance on your own.
    HealthCompare.org
    • It may cost you more than you’re ready to spend.
    • Ask your former Health Care Provider about any premium increase.
    HealthCompare.org
    • Indemnity Health Care Plans
    • Managed Health Care Plans
    HealthCompare.org
  • Indemnity plans have a greater flexibility when it
    comes to picking doctors, hospitals, or other health
    care providers.
    But flexibility comes with a price…
    HealthCompare.org
  • The PRICE of Indemnity Plans:
    You will probably have to pay an annual deductible before the benefits of the insurance kick-in. And, after that, there may be a discrepancy between what your providers charge you for their services and what your insurance opts to pay.
    HealthCompare.org
    • Let's say your doctor charges $200.00 for an office visit. The insurance company has determined that $150.00 is a usual, customary, and reasonable charge.
    • Your insurance company then pays 80% of that amount (which would be $120.00).
    • You will still owe the doctor $80.00, which is the difference between the amount he or she charges ($200.00) and the amount paid by the insurance ($120.00).
    HealthCompare.org
  • But what if you’d like to
    sacrifice that flexibility
    with providers for more
    consistent coverage?
    HealthCompare.org
  • What are Managed Care Plans?
    • They consist of a network of doctors and hospitals, or “providers.” You must choose among the providers in their network.
    • You can only receive the benefits of the discounts negotiated with specific doctor, hospitals, and health care providers in their network.
    HealthCompare.org
  • HMOs: Health Maintenance Organizations
    PPOs: Preferred Provider Organizations
    POS: Point of Service Plans
    We’ll focus on the first two…
    HealthCompare.org
  • HealthCompare.org
  • HMO (Health Maintenance Organization)
    • Insurance company determines care provider
    • May be limited with coverage area or available doctors
    • Limited number of specialists
    • Typically limited care options
    =
    HMO
    PPO(Preferred Provider Organization)
    • You determine care provider
    • Typically national coverage
    • Options for any specialist
    • Options for best available care
    =
    P
    P
    O
    HealthCompare.org
    • They often require you to see a provider within the network and to obtain referrals from a primary care physician.
    • These restrictions help to control costs.
    HealthCompare.org
    • If you decide that an HMO is the right plan for you, don’t forget to keep asking questions.
    • HealthCompare helps you to compare similar plans to find the perfect one for you.
    HealthCompare.org
    • How do I determine which doctors are accepting new patients?
    • Can I change doctors?
    • How are referrals handled if I need care from a specialist?
    • How is emergency care handled?
    • What services are covered, including preventive care?
    • What if I need services not provided by the HMO network?
    • Are there additional fees or co-payments required for office visits, emergency care or other services and, if so, how much are they?
    HealthCompare.org
  • So that’s an HMO…..
    What about a PPO?
    HealthCompare.org
  • PPOs do not necessarily require that you choose a primary care physician to supervise and make decisions for your health care.
    In addition, with a PPO, you may be able to access providers and services outside of the “preferred” provider network
    HealthCompare.org
    • IMPORTANT: PPO plans will likely involve more out of pocket costs than an HMO.
    • They typically involve deductibles, co-payments, and co-insurance amounts
    HealthCompare.org
    • The increased financial responsibility with a PPO is a trade-off for the higher level or flexibility that you have in choosing a provider and accessing care.
    • This means you can select more providers, but it might cost you.
    HealthCompare.org
  • So when selecting your doctors. . .
    What should you ask?
    HealthCompare.org
  • How many are in the network?
    Who are they and where are they located?
    What are the processes and restrictions for referral to specialists?
    HealthCompare.org
  • What hospitals are available through the plan?
    Where is the nearest one in the network?
    How is emergency care handled?
    HealthCompare.org
  • What services are covered?
    What are the deductible, co-pay and co-insurance amounts?
    What is the out-of-pocket maximum?
    What are the co-insurance amounts for non-preferred or out of network providers?
    Are there per-visit fees or other types of co-pays for in-network services?
    What is the cost difference between using in-network and out-of-network doctors, and what costs are associated with care outside of the PPO?
    HealthCompare.org
  • Which brings us to our last two plans:
    • Short-term Health Insurance
    • High Deductible Health Plans
    HealthCompare.org
  • Short-term major medical insurance
    is temporary health insurance that
    offers gap coverage toguard against
    high costs of emergency medical
    bills.
    HealthCompare.org
  • Who should consider Short-term Insurance?
    • Employees who are on extended leaves of absence.
    • Recent graduates who are between parental and employer coverage.
    • Employees who have been laid off or former employees between jobs.
    • New employees who are not yet eligible for the employer’s group coverage.
    • Early retirees.
    • People who leave a group policy and want an alternative to COBRA.
    HealthCompare.org
    • High Deductible policies require a higher deductible than most health plans, typically at least $1,000 for single insurance coverage and $2,000 for family coverage.
    • High deductible plans generally have lower monthly premiumsthan morecomprehensive health plans.
    HealthCompare.org
  • When comparinghigh deductible plans (HDHP) costs with the costs of other plans, consider the potential premium costs relative to your potential health spending for the coming year to determine which plan works best for you and your family.
    HealthCompare.org
  • It’s important to make an educated guess on what kind of medical assistance you might need in the foreseeable future.
    This isn’t just true with just HDHP . . .
    HealthCompare.org
  • . . .but with ALL Health Plans.
    YOU
    HealthCompare.org
  • Who is HealthCompare:
    HealthCompare is your online one-stop-shop for health insurance where you can research and compare plans onlinefrom over 150 national carriers.
    We Promise:
    To give you the best results for YOU, we never promote one carrier over the other. We just assess your needs and show you the best options from national carriers with plans in your area.
    Our Commitment is to YOU:
    As a division of The Word & Brown Company who has been the leading source for small group health insurance for over 20 years, we have leveraged technology to build an easy-to-use research tool, supported by a world class customer service team.
    Our
    Promise
    #1
    HealthCompare.org
  • 1. You can enter your information anonymously
    HealthCompare.org
  • 2. You can review your plan options online in seconds
    HealthCompare.org
  • 3. You can even compare plans side-by-side
    HealthCompare.org
  • 4. Then, you can apply online or call one of our trained Benefits Advisors for help!
    HealthCompare.org
  • Call toll free
    877-641-1101
    to speak to a trained
    Benefits Advisor
    or…
    Go to HealthCompare.org today!
    HealthCompare.org