Lockton Joins GoHealthInsurance’s Workplace Program
Lockton Benefit Group recently joined the GoHealthInsurance Workplace program to provide consumers across the nation with a convenient online solution to find quality health insurance quotes. More than 15,000 Lockton clients will now be able to leverage the GoHealthInsurance technology used by more than 20 million consumers to obtain the right health coverage.
With GoHealthInsurance tools, Lockton clients will be able to instantly compare health plans from the largest insurers in the nation including UnitedHealthOne, many Blue Cross and Blue Shield companies, Aetna and more. The GoHealthInsurane platform represents more than 10,000 health plans nationwide. Lockton members can also speak with a licensed agent for professional service and advice as they explore coverage options.
To find out more information you can read the entire article here.
Why Choose Individual Health Insurance?
An ever increasing number of people in the US are without traditional individual medical insurance. Numerous reasons exist for this and most have to do with major life changes such as employment changes, as well as the economy and the ever increasing cost of individual health insurance plans.
The recent changes in the United States regarding health care have brought this subject to the forefront of the news. As the new laws take affect everyone will be required to have individual health insurance plans. This will mean that many individuals that are using coverage from their employers may need to shop around in order to find the coverage that they can afford.
When shopping for individual medical insurance you should research the options that are available. Many people will be unfamiliar with the various options and this is a direct result of the fact that traditional individual health insurance plans are offered as package deals.
When shopping for individual health insurance plans you will learn that you can customize the product that you purchase based on your needs. If you have a family and require frequent doctor visits, this is an option that you can include in your coverage, making the coverage ideal for your situation. If you have an elderly family member, you can opt for special coverage for long-term care. If you are single and in good health you would want to eliminate those costs and opt simply for the minimum coverage type of individual health insurance plans.
With research and planning, anyone looking for individual insurance plans can save a significant amount of money by choosing only those options they need to make the plan work for them. A consumer not only saves money in the short term, but chooses the coverage that is right for them. This allows that individual the ability to save the money he would have spent for retirement or other investments.
What is a “Major Medical” Based Individual Health Insurance Plan
Filed under: Health Insurance, Medical Insurance
One of the key components of individual medical insurance is known as major medical, which is considered by many to be the most important component of any health care plan. Some insurance plans do not cover catastrophic illnesses or emergency hospital stays. This is where major medical comes into play as it is the part of your coverage that provides for these major illnesses and extended hospital stays if they are needed.
Most individuals do not require frequent doctor visits so with that in consideration, a doctor’s visit is something that someone with overall good health would only require two or three times per year. These would just be the normal visits for annual check ups and maybe one or two minor illnesses, or sick visits within a year’s time and annual flu shots might also require a doctor visit as well.
With such infrequent visits to the doctor, the cost of adding frequent doctor visits might just amount to a greater unneeded cost annually than the actual cost of visiting the doctor on a per visit basis. If you believe that this might be the case then you might consider an individual medical insurance that only includes major medical coverage, which only covers catastrophic hospitalization or illness that will require long-term hospital stays. In some cases, opting for this type of plan can reduce costs as opposed to electing a full coverage plan.
This type of insurance will require the payment of co-insurance and a deductible. The deductible is a portion of the cost that you are required to pay, out of pocket, before your major medical begins to pay. Co-insurance is the portion of the total bill that you will be responsible for after your deductible is met.
For example: if your medical bill is $5000.00 and your deductible is $500.00 you will be responsible for $4500.00, if your co-insurance is 20% you would then be required to pay $900.00 or 20% of the $4500.00. This would leave $3600.00 that your major medical coverage would pay. Major medical is generally the lowest cost option in any individual medical insurance plan, however the total cost out of pocket varies greatly and is determined by the actual options elected and the amount of deductible, among other factors.
Self-Employment and Individual Health Care Insurance Plans
Recently, the government passed new laws that insure that all Americans have access to affordable, medical or health insurance. Before you decide to consider any changes to your existing medical health insurance, you should learn more about what these laws deal with.
Many of the new laws will have an effect on you and your family and they should be studied in detail so you can prepare for those changes properly. For example, if you are self-employed and currently have no individual medical insurance you will be required to have a plan or you may be required to pay a “fine.” This may seem unfair, but if you are injured and have no medical health insurance, either the government or an insurance company will cover your hospital bills, which in turn raises the cost of individual medical insurance to everybody, including you.
The new law also includes new mandates that will assist many lower income households and other people in paying for individual medical insurance. Small companies that cannot afford to provide medical health insurance for their employees may be granted tax breaks to offset these costs. Individuals that purchase individual medical insurance from private companies may also receive government tax benefits to help them pay for their medical health insurance, among numerous other advantages under the new laws.
If you are self-employed, this will be more important to you as these laws make it easier for you to afford individual medical insurance coverage. Other aspects of the law include guarantees that no one can be denied medical health insurance due to a pre-existing condition. This may be of importance to you due to a disability or other major illness such as diabetes, especially if you do not qualify for existing help like Medicare or Medicaid. This means that you will have the coverage you need from your medical health insurance and will be able to afford it as well.
Saving Money with the Major Medical Individual Insurance Health Care Option
Filed under: Health Insurance, Medical Insurance
If you are considering changing your individual medical insurance and feel you can save money due to your good health, you should be looking into major medical. Major medical is usually a part of all individual health insurance plans. This component of your health coverage that covers the many expensive costs associated with major illness. These are illnesses that usually require long-term hospital stays, long-term convalescence in a facility or at home and other major costs. Usually these are injuries or major illnesses.
The first thing that you should know is that your existing major medical may be limited. Often, people will opt for the least amount of coverage in order to save money. With major medical, you will have a life time limit. This is a maximum amount of cost that your individual medical insurance provider will pay for your health needs. You may have opted for a lower life time limit in exchange for a lower monthly premium.
These options are the ones you will need to consider as you shop for better coverage or lower cost. Your individual medical insurance will be less of a value to you if you are severely injured or contract a rare illness and your coverage runs out. The cost of contracting a major illness or an extreme emergency is much more than is anticipated by many people and in many cases, it could bankrupt a person easily.
Several different options are offered concerning major medical and they are all options of which should be studied in depth. For example, the lifetime limit and an annual or lifetime deductible could dramatically reduce or inflate the total cost of your premium. These costs constitute the first part of the hospital bill you will have to pay before your individual medical insurance will begin paying.
This amount can be high if you opted for a lower monthly premium; however it could be low as well. Thoroughly examine any options given in your situation to be sure you are making the right choice when it comes to choosing your individual health care options.
Rising Costs of Medical Health Insurance
Filed under: Health Insurance, Medical Insurance
In today’s world, it is very difficult to live without medical health insurance. Generally, health care is a growing cost as the economy is constantly changing and the overall cost of everything increases with every passing day. With new technologies developed on an almost daily basis, there are new costs that are added to cover the development. This is true even of the medical and pharmaceutical fields as well. Medicine is always a significant portion of an individual medical insurance program. The cost of that medication with out any type of coverage is very high.
Medical health insurance allows individuals to pay monthly and have the type of coverage that they may need available when they need it. If you are unemployed, you may have the option to continue your individual medical insurance from your employer through the COBRA plan. COBRA Stands for the Consolidated Omnibus Reconciliation Act. This is a government-mandated program that allows people who lose their jobs to continue their individual medical insurance, as provided by their former employer, while they are between jobs.
Of course, there are certain conditions that must be met and there is a time limit in which you must opt in to be included for the COBRA plan. You should research all of your options before you make any decisions however. You may find that you can save money by opting for a medical health insurance program other than your former employers plan.
This may be a result of your evaluation of what type of coverage you are most likely to need during your unemployment. You may also decide to become self employed and would need to find a different provider. Once you have a better idea of what your situation will be, you can make a more informed choice regarding your individual medical insurance needs.