Simply put, health insurance is protection against medical costs. A health insurance policy is a contract between an insurer and an individual or group, in which the insurer agrees to provide specified health insurance at an agreed-upon price (the premium). Depending on your policy, your premium may be payable either in a lump sum or in installments.
Why is it important to be insured?
The cost of healthcare is extremely high. Today, a trip to the hospital can run you thousands of dollars. A battle with a serious illness, like cancer, can put you out $100,000's. A good health policy will protect you and your family from having to sell the home, liquidate assets and keep you out of dept. Most policies cap your total out of pocket expenses to a few thousand dollars per year. They also provide up to 8 million dollars in life time benefit payouts.
Group Insurance or Individual, which is better?
They are different. Group Coverage is guaranteed issued, which means they cannot decline you. Individual plan are medically underwritten so they can rider health conditions, increase premium or decline you. Rates on group plans tend to be higher because they have to take you regardless of your health. However group plans tend to cover more services under a copay, where indiviudal plans tend to have more expensises apply toward the deductible. You should always consult with a licensed agent to determine if group or indiviudal coverage is right for you.
What are some of the pittfalls with individual medical plans?
Individual or family coverage is medically underwritten. The insurance company has the option to grant you coverage or not. Preexisting condition may be excluded from the policy for a period of time or indefinetly. It is important to work with an experienced agency, like us, to help you determine the best plan and company to go with. If you are uninsurable, you may be able to obtain a guaranteed issued plan through HIPAA.
Watch out for discount plans.
A discount plan that may cost your whole family $100 a month is not an insurance plan. They typically a discount for services like Dr visits or prescription medications. Just because you receive an insurance card, don't assume you have coverage for medical expenses. Always read your policy.
Who qualifies for Florida health insurance?
Our customers needs vary based upon their individual situations. Maybe you are self employed and need to purchase your own health plan. Perhaps your employer does not offer a health plan or offers a plan that you find too expensive. We also know that individuals hitting certain milestones in life, such as students graduating from college or early retirees, may need their own health plan. Regardless of your particular situation, we have helped thousands of individuals like you meet their insurance needs.
What type of plans are available?
Florida health insurance plans consist of Copay Plans, High Deductible and Basic Plans, Health Savings Account Plans, Short Term Medical Plans, and Medicare Supplement Plans. Copay Plans are designed for individuals and families who want help managing their routine medical expenses, plus outstanding coverage for major health care expenses. High Deductible and Basic Plans are designed for individuals and families willing to take additional responsibility for routine health care expenses in exchange for lower premiums. Health Savings Account Plans help you take control of your health care expenses with a tax-favored savings account and quality medical coverage. Complete coverage details are provided in the policy and certificates. Optional benefits are available to help individuals and families further customize their insurance needs. These optional benefits include maternity benefit, prescription drug card benefit, supplemental accident benefit, physician and provider networks, and term life benefit.
