Health Insurance

The world of health insurance is changing dramatically.  The overall landscape has changed from the traditional medical underwriting scenario. The wide range of new programs, benefits, plan designs, and opportunities are now available.  Consider offering more than one plan design to help employees get the right fit for their healthcare dollars.

Employer Sponsored Health Insurance

Many employers offer competitive benefit packages providing health insurance to qualifying employees working at the company. The employer may contribute towards the premium on behalf of the employees.  Employers may give multiple plan choices to the employees from which an employee may choose. This allows an employee to better tailor their health insurance program to their individual or family situation. Premiums are high. Paying big premiums for insurance you don’t  use? In addition, certain tax advantages may be available to the employer and employees when the premium is billed and paid by a qualifying company. 

What is a Health Savings Account (“HSA”)?

A Health Savings Account is an alternative to traditional health insurance; it is a savings product that offers a different way for consumers to pay for their health care.  Using an HSA may actually lower your health insurance outlays.  HSA’s enable you to pay for current and future health care expenses on a tax-advantaged basis.

You must be covered by a High Deductible Health Plan (HDHP) to be able to take advantage of HSAs.  An HDHP generally costs less than what a traditional health care coverage costs, so the money that you save on insurance premiums can  be put into the Health Savings Account. You own and control the money in your HSA.  Decisions on how to spend the money are made by you without relying on a third party or health insurer.  

 

How can I get a Health Savings Account?

Consumers can sign up for HSA’s with banks, credit unions, insurance companies, and other approved companies.  Your employer may also set up a plan  as well.

 

Health Insurance Terms

Coinsurance, Coordination of Benefits, Co-payment, Customary Fee, Deductible, HMO (Health Maintenance Organization), Managed Care, Maximum Out-of-Pocket, Expenses, PPO (Preferred Provider Organization), Premium, Primary Care Doctor, Third-Party Payer, COBRA, Health Savings Accounts (HSA), Health Reimbursement Accounts (HRA) , Out-of-Network Benefits

Links

Medicare
Information for Medicare and Medicaid

Aetna Health Product for Individuals
To Apply for Individual Insurance – Pennsylvania

Aetna Doctor Find
Locating a doctor who participates with AETNA

BC/BS Doctor Find
Locating a doctor who participates with BC/BS (Keystone, POS & PPO Plans)

United Healthcare Doctor Find
Locating a doctor who participates with United Healthcare

Health America Doctor Find
Locating a doctor who participates with Health America