Health Insurance for a Test Ride?
Health insurance is a big purchase, and as is the case with most big purchases, understanding exactly what it is that you’ve purchased is important. To help customers avoid buyer’s remorse, health insurance policies are required to offer a free-look period. If at any time during this period you find that you’re dissatisfied with your policy, you can cancel it and get your money back.
When Is the Free-Look Period Available?
In most cases, full health insurance coverage is an annual contract, and policyholders renew their contract every year. Free-look is only applicable to the first time you purchase that policy and is not available after you renew an existing policy. It kicks in when you receive your policy documents, ensuring that you have ample time to review everything and ensure that the policy you’ve chosen will meet your needs. Most are 10 days to review your policy for satisfaction.
It’s important to note that the free-look requirement is only applicable on health insurance policies that have terms of at least 3 years. Shorter-duration plans that are given for less than a year are not subject to the free-look rule. All ACA plans do have the free look period, with or without a government subsidy.
Understanding Your Health Insurance with Nevada Insurance Enrollment
Health insurance can be complicated, as there are numerous types of plans available. Free-look is an important feature that gives you the opportunity to review your policy and make sure that you understand what it covers. A Nevada Insurance Enrollment health insurance agent can review your policy with you and help you purchase health insurance with confidence.
Recent Posts
Health Insurance Plans for Year 2019 and Beyond
According to a recent study, health insurance premiums could increase for individual plans on the ACA marketplace between 35 and 94 percent by 2021. Concern over health care is nothing new; in fact, this is the fifth consecutive year that Americans have ranked health care as a top concern.
Health Insurance Could Become The Wild Wild West Once Again
At least for now, many aspects of ACA are still in place. Currently, an insurer can’t turn you away for a pre-existing condition, and long-term health insurance plans still have to provide coverage for ACA’s 10 essential health care benefits. Prior to 2010, private health insurance usually did not cover maternity, or preventative like it does now, and mental health was generally non-existent.
Repeal of the Individual Mandate
Health insurance, which has always been a topic surrounded by confusion, is doubly complicated as coverage requirements have evolved in recent years. Among the most significant changes was the individual mandate that was put into place under the Obama administration.
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Recent Posts
Video | Get Ready for Obamacare
Another wonderful animated video from the Kaiser Family Foundation. It gives us a detailed overview of how the Affordable Care Act (Obamacare) will work.
Health Insurance | HIPAA mandates changes
HIPAA mandates changes to electronic medical documentation of patient records to begin 1/2013 through 1/2016.
Exchange Notices
Exchange Notices are coming out informing employees about the Exchanges and how to access them and what they are.
New Health Care Terms – Affordable
IF the insurance is greater than 8% of your “Modified Adjusted Gross Income”, it is considered “unaffordable” and you are not required to buy insurance.