Health Insurance Individual and Family Health Insurance is a type of major medical insurance available to individuals and families, rather than to employers or organizations.
Health Insurance is considered the most important type of coverage because it protects you and your family from loss due to sickness or accidental bodily injury. This is sometimes called accident and health, or accident and sickness insurance. Individuals and families alike need to have comprehensive health insurance plans. Health insurance plays a key roll in protecting its members from the financial hardships caused by medical bills due to an unexpected accident or illness.
By simply providing some basic information you will be presented with competitive real time individual and family quotes from leading Health Insurance Companies doing business in your area. You will be able to view the latest products and services in your marketplace and apply directly on line or over the telephone. This will be presented to you in a side by side comparison consisting of multiple plan designs and pricing for your analysis. Empower yourself! Choose what best suits YOUR needs right from your office or home.
Health Savings Account (HSA)
A Health Savings Account is a tax deductible, interest bearing account designed to assist in paying your medical expenses tax free. An HSA is designed to work with a qualified High Deductible Health Plan (HDHP). The funds in your HSA can help pay for medical expenses both covered and not covered by your health plan, including your deductible and co-insurance on the qualified plan. An HSA is your account. When used to pay your medical expenses, all of the money you contribute is tax-deductible and goes with you when you retire or change jobs. In this way, an HSA is portable.
A High Deductible Health Plan (HDHP)is a full Major Medical health insurance plan with maximum out-of-pocket limits and minimum annual deductibles. The requirements of a qualifying High-Deductible Medical Plan are determined by the Internal Revenue Service (IRS). These requirements are subject to change each year.
There are several tax benefits of an HSA:
Cash contributions made to an HSA during a tax year are deductible from your federal gross income.
Contributions made through a payroll deduction are made, free of tax, by employees.
Contributions made by an employer are also not included in your gross income for tax purposes.
Withdrawals from your Health Savings Account for qualified medical expenses are free from federal income tax. With the average American being taxed at 28%, this can translate into a tremendous savings.
If your HSA is interest bearing, the earnings are tax-deferred, and you will never pay federal taxes on them if the money is used on qualified medical expenses.
*Tax benefits for individuals and families may vary from that of employers. Check with a licensed agent to find out which tax benefits apply to you.
A Qualified Medical Expense is defined by IRS Code Section 231(d), the expenses must be to primarily alleviate, or prevent, a physical or mental defect or illness.
Some samples are listed below:
Prescription Drugs
Physicians office visit
COBRA and long term care premiums
Durable medical equipment
Eyeglasses, contact lenses, LASIK and other vision care
Birth control pills
Chiropractor services
Dental and Vision care
Hearing aids
Smoking cessation, and weight-loss programs
HSAs were created by the Medicare bill signed by President Bush on December 8, 2003, and is designed to expand access to health care by helping individuals save for future qualified medical and health expenses on a tax-free basis. An individual who is covered by a High Deductible Health Plan can make a tax deductible contribution and use it to pay for out-of-pocket medical expenses. This allows more American families to get the health care they need, at a price they can afford.
Adjusted items for HSAs for 2007-2008 Annual Contribution Limitation For calendar year 2007, the limitation on deductions under section 223(b) (2) (A) for and individual with self-only coverage under a high deductible health plan is $2,850. For calendar year 2008, the limitation on deductions under section 223(b) (2) (B) for an individual with family coverage under a high deductible health plan is $5,650.
For calendar year 2008, the limitation on deductions under section 223(b) (2) (A) for and individual with self-only coverage under a high deductible health plan is $2,900. For calendar year 2008, the limitation on deductions under section 223(b) (2) (B) for an individual with family coverage under a high deductible health plan is $5,800.
*Under recent legislation, these amounts are the maximum HSA contribution amount regardless of the amount of the HDHP deductible.
*These estimates are adjusted annually based on changes in the Consumer Price Index (CPI).
Dental Insurance We can provide you with a suite of comprehensive dental plans, many of which require no payment for preventative and diagnostic procedures such as cleanings and routine examinations.
Individual of Family Dental Insurance is a form of health insurance coverage that covers the cost of normal dental maintenance as well as cleanings, fillings, oral surgery and root canal therapy. Dental Insurance is often offered as either HMO or PPO type plans and coverage can vary widely depending on plan type and insurance carrier.
GetHealthInsurance.com can offer you a variety of Dental Programs. By simply providing us some basic information we will best be able to match your request with a dental program that meets the needs of you and your family.
Term Life Insurance Term life insurance is both the most straightforward type of Life Insurance and the easiest to understand. It provides protection for a specified period of time and pays a benefit only if the insured individual dies during that period. Term Insurance is issued for varying coverage periods, but some common ones are 10-year and 20-year Term. Most consultants believe that term life insurance gives you the most comprehensive coverage for the premium you pay. There are many different types of life insurance policies, all of which are designed to satisfy your varying needs. In most circumstances life insurance provides a way to replace the loss of income that occurs when someone dies.
It is a contract between the insured person and the insurance company that is providing the insurance. If you die and the contract is in force, the insurance company pays a specified sum of money, usually called a Death Benefit, free of income tax, to the person or persons you name as beneficiaries. The beneficiaries can usually use the proceeds with out restriction.
By simply providing us with some basic information, through a brief online application, which includes your contact information, you will be provided quotes. Your information will be kept private (see our privacy policy). Because each of us has different needs, a licensed agent from getHealthInsurnace.com or its affiliates will contact you to go over the best option, that tailor fits your particular needs.
Short Term Health Insurance Short Term Health Insurance is an affordable solution that provides valuable basic protection against an unexpected illness or injury under a policy that is issued on a temporary basis. The policy, in most circumstances is issued for approximately 6 to 12 months. It is ideal for people who are between jobs, laid off, looking for a lower cost alternative to COBRA, in the waiting period for group coverage to start, or are working either temporarily or as a seasonal employee.
Student Health Insurance With all the things you have to pay for in college, paying for Health Insurance is probably last on your mind. However it is important not to leave yourself at serious financial risk. Most colleges and universities do require coverage, but you will find that the college sponsored plans are inadequate and “bare boned”.
GetHealthInsurance.com offers a variety of Student Health Plans from top insurance carriers that can meet your needs and budget.
Student Health Insurance is an affordable solution that provides valuable basic protection against an unexpected illness or injury. It is typically offered to full time students under the age of 30. The student usually must maintain full time status for a minimum of 31 days following the effective date of the policy and must attend a state accredited college or university.
Small Business
Health Insurance Coverage for Your Business Information to make the best choice for your business
Small Business Medical Insurance Coverage, commonly referred to as Group Health Insurance, is Health Insurance benefits an Employer offers to its Employee’s. Whether you’re a Fortune 500 company or small neighborhood business, as an Employer sponsoring a Health Insurance plan for your Employee’s, you want to make an informed decision. This entails evaluating your market insurance carriers, examining their plan offerings and comparing costs as they pertain to your company’s specific needs.
GetHealthInsurance.com and its associates are licensed insurance brokers backed by over 40 years of experience in the industry. We bring to you a market expertise which is recognized in the top 1% of brokerage firms in the country! Our distinguished insurance partnerships and extraordinary service provides our clients a competitive advantage within the insurance marketplace. We combine honesty, integrity and progressive ideas to deliver the most innovative insurance solutions available today.
By simply providing us with some basic information about your business, a professional licensed insurance agent who is an expert in your marketplace will provide you with a comprehensive market evaluation. This will provide you with multiple insurance carrier plan offerings and costs for your review. For a quote (Click her)
Affordable Group Health Insurance GetHealthInsurnce.com is making group health insurance affordable through the use of Health Savings Accounts, Health Reimbursement Accounts, as well as traditional HMO’s, EPO’s, PPO’s and POS insurance plans. The premiums vary among the different insurance carriers based upon the varied plan benefits, and recognizing that there are key differences in the plans offered could affect the amount you and your employees may pay out-of-pocket. Our unique strategic approach will provide you with the most innovative benefit solution for your companies group health insurance benefit needs while fitting your budget.
GetHealthInsurance.com and our preferred licensed market experts will provide you with a full suite of choices for your business so that you can make the most educated decision on how to proceed with us.
What is Small Group Business Insurance and how is it priced? Small Group Health Insurance is for companies raging form 2 to 50 employees. The health insurance pricing is based on community rating factors and the projected utilization of services for a specific geographic area. The age and gender demographics of the employees which make up a given group play the largest role in determining the pricing for any plan. Generally speaking, the benefits provided under a group health plan are more extensive than those provided under an individual health plan. Group Health Insurance plans are subject Federal guidelines.
What are the Tax Advantages? Employers are entitled to take a tax deduction for premium contributions they make to a group health policy. For the employee, generally the individual premium contributions usually made through a payroll deduction are not tax deductible. However, if the employer has set up a Section 125 (IRS), the individual premium contributions are tax deductible. Benefits the individual receives under the group health policy such as claims payment for services are not considered taxable income.
Eligible Groups To qualify for group health insurance, the group must have been formed for some reason other reason than to obtain insurance. Qualifying groups include employers, labor unions, and trade associations.
Individual Eligibility Today, most employers set their own waiting period before an employee can enroll onto the health plan. The waiting period is the times between an employees hire date and the time they are eligible for coverage. Commonly most employers set waiting periods from one to three months. In addition, in most states the employee must be employed full time. The definition of full time can vary from state to state.
What is Managed Care Group Business Insurance? Managed Care health insurance plans involve several different types of choice HMO, PPO, and POS plans. These plans typically have a provider network of contracted physicians and hospitals that agree to perform services for managed care patients at a pre-negotiated rate. The provider will usually submit the claim to the insurance company for the individual, which means less paperwork and cost of administration. In most circumstances, managed care delivers health care services at a lower cost.
What is an HMO and how does it work? A Health Maintenance Organization (HMO) is a group of contracted medical providers in which members of the HMO may seek medical services at a pre-negotiated rate. It is a comprehensive prepaid health care service. Generally, there are no deductibles, but most plans require co-pay for services. One usually must choose a Primary Care Physician from the plan’s Provider Directory and/or a network. The Primary Care Physician (PCP) will act as a “Gatekeeper” for all of one’s medical needs. The PCP will become the primary contact and they will refer a patient to other providers or specialists within the network. With most HMO’s, there is no out-of network benefit, except for emergency care. HMO participants can be members under a group insurance plan or they can be individual or family members.
What is a POS Plan? A Point-of-Service (POS) is a hybrid of the HMO and the PPO. Typically, the POS is an HMO with an added out-of-network benefit. In most circumstances, a POS plan has “Open Access”. This feature allows a member to access providers both in, and out of network, without a referral at the time they need services. With a POS plan, your access to providers is unrestricted as opposed to the Gatekeeper model that the standard HMO provides. A POS plan is usually higher in premium cost due to the “open access” and the out-of-network benefits.
What is a PPO? A Preferred Provider Organization (PPO) is a group of providers, mainly hospitals and physicians that contract with insurers, employers and third party administrators to provide health care services at a pre-negotiated fee. Typically, a PPO plan will pay a fee to the provider when service is rendered (fee for service).
How do I get a quote for my business? (Click here) Join the best in class consultant team by simply providing us with some basic information about your business. After a careful review of your information, a professional licensed insurance agent who is an expert in your marketplace will provide you with a comprehensive market evaluation. This market evaluation will provide you with multiple insurance carrier plan offerings at different costs points for your review. Pick what is best for your business and let GetHealthInsurance.com provide you a better working environment where employees can grow with happiness and health.
To connect with a licensed agent who can guide you through this important decision making process or for friendly, impartial advice, please (Click here) or e-mail us at SmallBusiness@GetHealthInsurance.com.
Group Dental Insurance We give you more reasons to smile by offering you dental insurance plans that meet both your employees oral health needs and the needs of your budget.
By simply providing us some basic information along with your employee census data, you will receive a side by side comparison of comprehensive dental plans, many of which require no payment for preventative and diagnostic procedures such as cleanings and routine examinations.
Get Group Dental Insurance today and have something to smile about
Empower yourself! Choose what best fits your needs and protects you and your business and employees today! Enroll sooner rather than later and avoid unnecessary risks that may get you up rated in the future.
To connect with a licensed agent who can guide you through this important decision making process or for friendly, impartial advice, please (Click here – to the small biz application page) or e-mail us at SmallBusiness@GetHealthInsurance.com.
Group Life Insurance for Small Business Group life insurance is for employers and employee groups, unions or associations so they may provide a death benefit for a number of individuals under one master contract. The underwriting is based upon the group and not the individuals that are insured. Group life insurance has grown enormously in the last few years and is the preferred way of purchasing life insurance today.
Under a Group Life Insurance policy, the contract is between the employer and the insurance company. If an employee dies and the contract is in force, the insurance company pays a specified sum of money, usually called a Death Benefit, free of income tax, to the employees named beneficiaries. The beneficiaries can usually use the proceeds with out restriction. Term life insurance is the most straightforward type of group life insurance and the easiest to understand. It provides protection for as long as the employee is covered under the group policy and pays a benefit if the insured individual dies or in some circumstances is dismembered. Group Life Insurance is issued for varying benefit amounts but is often issued in the amount one times an employee’s salary.
To connect with a licensed agent who can guide you through this important decision making process or for friendly, impartial advice, please (Click here – to the life insurance application page) or e-mail us at SmallBusiness@GetHealthInsurance.com.
Health Savings Accounts (HSAs) for Small to Mid Size-Businesses More and more employers are moving to HSAs to save money on insurance premiums and provide quality health coverage to their employees.
The benefit of HSAs is in the consumer’s incentive to better plan and use health care resources.
An HSA is an employee owned tax-advantaged savings account created to pay medical expenses that is always combined with a qualified High Deductible Health Plan (HDHP). The funds in your HSA can help pay both medical expenses covered, and not covered by your health plan, including your deductible and co-insurance on the qualified plan. An HSA is your account. When used to pay your medical expenses, all of the money you contribute is tax-deductible and goes with you when you retire or change jobs. In this way, an HSA is portable.
Some of the greatest benefits of the HSA are the tax advantages.
As an employee you pay no income tax taxes or FICA on the employer’s contribution, even if you take the money out the next day.
The employer gets a full income tax deduction for its contribution and does not have to pay FICA of FUTA on the contribution amount.
The employer gets a deduction from its taxable income for its contribution, and both the employee and the employer save 7.65% in FICA taxes.
Appreciation of funds in the account is tax free.
Withdrawals are tax free for qualified medical expenses for employees
The time to take advantage of Health Savings Accounts is now. Don’t let your traditional plan burden you business with unnecessary cost.
By simply supplying us with some basic information you will be provided with a side by side quote comparison from leading companies offering Health Savings Accounts, with qualified major medical plans.
To connect with a licensed agent who can guide you through this important decision making process or for friendly, impartial advice, please (Click here to the group insurance page) or e-mail us at SmallBusiness@GetHealthInsurance.com.
Health Reimbursement Accounts / Arrangements Flexible plan designs and deductibles matched with a Health Reimbursement Account can provide thousands in savings and lower cost for employers. It helps achieve better company cash flow since dollars are only spent when a member has a claim!
Our Health Care system is shifting form employer based health insurance to consumer driven plans with higher deductibles and creative funding methods to help assist employees with all or a portion of the Deductible cost.
Health Reimbursement Arrangements offer reimbursements for employees when they incurred medical cost under the deductible or otherwise. This is one of the best methods to funding health care and control medical cost today. It promotes employee awareness to medical cost and employees begin to shop more intelligently for their health care. Employees will demand higher quality care at a lower cost engaging the provider on cost treatment options before making a decision.
Learn More today!
Get a quote now and start saving today with a Consumer Driven Health Plan. Empower yourself! Choose what best fits your needs and protects you and your business today! Enroll sooner rather than later and avoid unnecessary risks that may get you up rated in the future.
To connect with a licensed agent who can guide you through this important decision making process or for friendly, impartial advice, please (Click here – bix application) or e-mail us at SmallBusiness@GetHealthInsurance.com.
