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Health Insurance Terms
Health Insurance is something we all need but it is not necessarily something we all understand. Let’s try and understand it a little more with some fun Health Terms. Cobra A health insurance program that offers eligible employees and their dependents extended health insurance coverage for the plan they’re on, in the event that they lose their job or their hours are reduced. It stands for the Consolidated Omnibus Budget Reconciliation Act of 1985, which is the law that first introduced COBRA insurance Coinsurance A percentage you’ll pay for covered health services after you’ve met your annual deductible. Many plans offer 80/20 coinsurance, covering 80% of the cost of a…
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Medical Debt … It doesn’t have to happen
Health Insurance can definately be confusing & frustrating, but if you don’t have it or have the wrong plan it can be devastating. You can rack up thousands if not more in medical debt without a plan or the right plan. Medical Debt – #1 Reason I think you need insurance Several studies in the last decade have consistently cited medical debt as one of the main reasons individuals file for bankruptcy. Let’s think about that for a few minutes…out of all the bankruptcies in the US one of the main reasons is because of medical debt. It doesn’t have to be that way. What are your options? There are…
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United Short Health Hospital & Surgical Plan
The United Health Insurance Hospital & Surgical plan is a true catastrophic plan. It is offered through United Healthcare, one of the largest healthcare insurance providers in the country and is a Nationwide PPO plan. This plan does NOT have Dr visits coverage or prescription coverage. This is a plan built for those who are looking for a true catastrophic plan that will be there for the major “what if’s” of life. There are several deductible options, the most popular being $5000 with 50/50 coinsurance and $10,000 Max Out-of-Pocket after deductible is met. You pay 50%, up to $10,000, after deductible is met. To help off-set the deductible cost there are…
