Do You Know What An AHP Is?
Most people have never heard of association health plans; however, these health insurance plans have been around for decades for small businesses in limited circumstances. Recently, new rules have passed that substantially expand the circumstances that would allow association health plans to be purchased. Most significantly, individuals now have access to these health insurance plans.
How Are Association Health Plans Different from ACA Plans?
Association Health Plans may have fewer benefits but will most likely have lower premiums, making them an attractive option for those who are young, healthy, and on a budget. These AHP plans will be different than the current ACA (Obamacare) health insurance plans, where insurers offering these plans cannot deny coverage for people with pre-existing conditions or charge them a higher rate based solely on their health status or history.
Association Health Plans, however, don’t have to provide the “essential health benefits” outlined by the ACA. (Maternity, Prescriptions, Pediatric Dental and Vision, Mental Health, etc.) Insurers offering Association Health Plans CAN base premiums on an individual’s age, gender, or industry.
Is This Coverage Enough?
This is where having an experienced, educated and knowledgeable licensed health insurance agent comes into play. Having an agent look at available plans and discuss the pro’s and con’s of each plan offered, and match your needs with what’s available or offered to you with your current and past health needs is critical. Even the healthiest person can become seriously ill or injured. If that happens, then not only will they deal with stress from the condition itself but also with the financial consequences of medical treatment.
Let Nevada Insurance Enrollment Advise You
Our Las Vegas, Nevada Health Insurance Agents are here to help you get the best coverage you can afford. Call us today to discuss your healthcare needs and budget, and we’ll help you find the plan that’s right for you and your family.
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You Can Still Buy Health Insurance From a Local Agent
The way health insurance is being marketed may give you the wrong impression that Nevada Health Link is the ONLY place to buy health insurance these days, but that is NOT the case. You can continue to buy your health insurance from the same agents and agencies you’ve always bought your health insurance from.
Is Health Insurance Worth The Cost?
If you experience a more extensive medical emergency and require hospitalization, hospital bills may quickly become a burden. A three-day stay, for example, could set you back about $60,000 depending on what tests are ordered and what happens during your stay.
What is Co-Insurance?
Co-insurance means two parties will be paying for the bill. “Co” means joint, mutual, two, or more. The health insurance company will usually pay the larger amount (example 70%) and you as the member will usually pay the lesser amount (example 30%). This would be considered co-insurance 70/30. This (co-insurance) usually happens AFTER the deductible is met.
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Recent Posts
Are Breast Reductions Covered by Health Insurance?
Breast reduction surgery is a common procedure that involves removing fat, tissue and skin to reduce the overall breast size. Depending on your reasons for seeking this procedure, it can have a big impact on your comfort, health and quality of life.
Things Potentially NOT Covered By Your Health Insurance
To be fair, in recent years, health insurance companies have made strides towards transparency. If you have an ACA-compliant plan, there are many services that your health insurance is legally required to cover, taking some of the guesswork out of budgeting for health expenses.
Medical Loss Ratio
This Medical Loss Ratio states that when a family or individual buys a medical plan, 80% of every dollar collected and paid to an insurance company MUST pay medical claims/research. So that leaves the insurance company to pay ALL of their expenses with the remaining 20%. .20 cents on the dollar for their employees, buildings, broker costs, etc.
Why Does Health Insurance Have an Open Enrollment?
The Affordable Care Act / Obamacare, put specific enrollment periods in place to prevent people from only enrolling in health insurance when they were sick or needed surgery.