Category: Health Insurance

Your health insurance policy outlines all the benefits for which you are qualified. These are your covered services. While researching your benefits, you should also pay attention to the conditions not covered under your health insurance policy. Here is a more in-depth look at what a typical health insurance policy covers.

  • Important Benefits

As you review your health insurance policy, keep in mind that your plan may cover different services compared to other plans. Make sure to research information on the Health Insurance Marketplace to see how your policy stacks up. Policies available through the Health Insurance Marketplace will cover essential health benefits, including emergency services, mental health services, prescription drugs, and pregnancy care. If you are admitted to the hospital for surgery, you will be covered. Rehab services are covered as well. Your health insurance plan should also cover preventative care, such as a yearly checkup, and dental and vision screenings. Some private health insurance plans may offer more benefits.

  • Covered Treatment Options

Beyond preventative services, your health insurance policy will cover you if you are diagnosed with an illness. Many different types of disease are covered under traditional health insurance policies. While it would take too long to list all the covered conditions and tests, a few other situations are covered by a health insurance policy. If you are diagnosed with diabetes, you are covered. You’re covered if the doctors diagnose you with high blood pressure. Your health insurance plan should also cover immunization vaccines and screening tests for HIV or tuberculosis. You are covered if you need to be checked for anemia or a urinary tract infection.

  • Pregnancy Options

If you become pregnant, your policy will cover you so that you can deliver a healthy and happy baby. You can also receive counseling if you have any questions about breastfeeding. You will also be required to get a mammogram every year to ensure that you don’t have breast cancer.

  • Medical Emergencies

Medical emergencies are different from medical benefits. Medical emergencies are issues that your doctor has decided as needing urgent care. While medical benefits are covered, a medical emergency may involve a disease not covered under your health insurance. In this situation, the care that your doctor wants to provide may differ from your insurance policy because your doctor may not be fully aware of what is covered in your plan.

The time to review emergency health coverage is before an emergency happens. When you are in the moment, you won’t want to sift through paperwork to determine what services are covered or if your insurance requires you to use certain facilities. Take the time to read over your policy carefully. This will help you inform your doctor about which treatment options are available and which options are covered before you need the services.

Remember that your insurance company makes the final decision on which treatment options are covered. If your insurance company denies the treatment, you will be financially responsible for the treatment cost. You can also appeal the decision. Before you decide to appeal, check your policy to learn about the appeal process. Your doctor’s office can sometimes offer you some advice on appealing denied claims.

Figuring out which health insurance policy is the right fit for your needs can be stressful. However, you can have peace of mind by purchasing the right health insurance coverage. If you want to learn more about health insurance policies, contact the experts at First Insurance Solutions. We will assist you with all of your coverage needs.

Hybrid life insurance continues to rise in popularity. Traditionally, many people considered long-term care insurance to be the ideal policy. In today’s world, it has become more common to purchase coverage that also includes life insurance. While it’s helpful to be insured in case you develop a health condition, life insurance benefits allow you to cover your loved ones after you pass away. Hybrid life insurance policies offer coverage when you need it while also allowing you to provide a layer of security for your loved ones.

Here is a look at some of the other benefits of hybrid life insurance.

1. Flexibility

Hybrid care insurance provides flexibility. You can choose the payment that suits your individual needs. You can opt for one lump sum, or you can receive annual payments.

2. Thorough Coverage

As you weigh the pros and cons of hybrid insurance, think about the type of coverage you want. Hybrid life insurance policies allow you to receive multiple types of coverage under one plan. You’ll be covered if you become ill, and you’ll also protect your loved ones by providing a safety net if you pass away.

3. Relatively Easy Process

Qualifying for traditional long-term care coverage can be a complicated process. The underwriting process for a hybrid policy is much easier. Generally, you’ll only have to answer a few questions to become eligible for coverage.

4. Tax Benefits

Premiums paid for long-term care insurance may be deducted from your state and federal taxes. Any life insurance payouts to your loved ones are not taxed.

5. Stable Premium

Many people have concerns regarding the cost of long-term care policies because they can rise over the term of the policy. Hybrid policies generally have stable premiums. You also have the option to lock in your premium for a particular amount.

6. Greater Return

One of the benefits of hybrid life insurance is a greater return on your premium. You may lose your benefits through a traditional policy if you don’t need long-term care. With a hybrid policy, your loved ones can still collect the death benefit even if you do not end up needing long-term care.

7. You Can Get Your Money Back

Some hybrid life insurance policies give you the option to receive the amount that you paid on your premium if you decide to opt-out of the policy.

8. More Manageable

One of the benefits of hybrid life insurance policies is that you only have to research and manage a singular policy instead of multiple ones. Hybrid policies also give you peace of mind regarding your long-term health and provide some financial stability to your loved ones.

These are some of the essential benefits of hybrid life insurance. If you have additional questions about business or personal insurance, contact the experts at First Insurance Solutions today. We are eager to help you with all of your coverage needs.

Without the right knowledge, choosing a suitable health insurance plan can be overwhelming. According to a recent industry study, around 12% of Americans are not confident about selecting an appropriate health plan. However, with a clear understanding of the policy details, you can choose insurance coverage that suits your budget and family health.

Taking this into account, the following are a few vital questions you need to ask when shopping for health insurance.

1. How Much Will Medical Care Cost?

Before buying health insurance, you should know the upfront cost of premiums, deductibles, and out-of-pocket-limits. According to a Kaiser Family Foundation report, the average annual premiums for single coverage in 2019 were $7 188.

A premium is the total cost of a health insurance policy. Most insurers allow policyholders to pay their premiums in regular installments, with the most common payment cycle being monthly. A deductible, on the other hand, is the amount you pay before the insurance starts providing certain benefits, while the out-of-pocket limit is the maximum amount of money you’d need to pay for a named peril. For instance, if a procedure requires you to pay $40 000, and your -out-of-pocket maximum is $4,000, you’d only need to pay$4,000 out of pocket.

2. What Type of Plan Is It?

Before you buy health insurance, determine whether it is a managed care system or an indemnity health plan. Indemnity health plans allow you to choose your doctors. Besides, you only cover part of the health care cost while the insurance company covers the rest. On the other hand, managed health care involves a Preferred Provider Organization (PPO) or Health Maintenance Organization (HMO). Under an HMO plan, your employer pays a fixed fee for healthcare service. However, you can only use in-network providers. In contrast, the PPO system allows you to use out-of-network providers, but at a fixed cost.

3. What Benefits and Perks are Included in the Policy?

Besides improving your health, additional health insurance benefits can help you save money. With this in mind, you should find out whether or not an insurer offers extra benefits such as eye care and dental services. More importantly, make sure to take maximum advantage of such benefits.

4. Does the Insurance Cover Routine Examination?

Considering how some health conditions require routine checkups, you should determine whether a policy covers the same. Examples of such conditions include, among others, mammograms, immunizations, and pap tests.

5. Does The Plan Have Restriction On Pre-existing Conditions?

Some insurance policies will not cover health expenses if your family has a history of a chronic condition. According to the Centers for Disease Control and Prevention (CDC), 60% of American adults have chronic diseases. Enquire if the pre-existing conditions are excluded from the policy. Some plans may require you to contact your doctor within 24 hours before going to the hospital, failing which the insurance won’t cover the cost.

Thus, before you buy health insurance, answer these health plan questions, and make your decisions accordingly. For more questions related to health insurance, contact the experts at First Insurance Solutions. We will assist you with all your coverage needs.