5 Basic Facts About Health Insurance Policies In A Bad Economy
1. DOES YOUR PLAN INCLUDE YOU IN WORK AND WORK?
Many health plans have specific exclusions that exclude your benefits to anything that may have been workers' compensation or similar laws. Now read that last sentence again. Chapter
CAN BE INSURED!?
That's right. Most freelancers and even some small business owners don't do the Worker's work themselves.
There are insurance plans designed to cover you on and off work - 2
hours a day, if you are not required by law to have workers' compensation insurance.
2. CAN YOU WRITE?
Independent contractors (1099), home-based business owners, professionals and other self-employed people often fail to take advantage of the tax laws available to them.
Many people who pay 100% of the cost out-of-pocket may deduct their monthly premium. This alone can reduce the net cost of a suitable plan by up to
0%. Ask your accountant if you qualify and/or check the IRS website for more information.
3. INTERNAL LIMITATION
All true insurance plans use some form of internal control to determine how much they will pay for a particular procedure or service. There are two basic methods.
- Scheduled Benefits
Many plans, some of which are specifically marketed to self-employed and self-employed people, have a clear schedule of what they will pay for each visit. doctor, hospital stay or even limit how much they will pay for the check every 2
hours. Stage. This structure is often associated with a "compensation plan". If any of these plans are presented to you, be sure to review the written Benefits Schedule. It is important that you understand these types of limits from the beginning, because once you reach them, the company will not pay anything beyond this amount.
- General and Customs
"Common and custom" refers to the rate of payment for a doctor's visit, procedure or hospital stay based on the fees charged by most physicians and establishments charges for that particular service in that particular geographical area or equivalent . Land. The "common and customary" fees represent the highest coverage of most major health plans.
4. YOU HAVE THE OPPORTUNITY TO BUY!
If you're reading this, you're probably buying a health plan. Every day people shop, from groceries to a new home. During the buying process, typically, value, price, individual needs, and the overall market are assessed by the buyer. With that in mind, it's very disturbing that most people never ask for the cost of a test, procedure, or even a visit to the doctor. In this ever-changing health insurance market, it is becoming increasingly important for our healthcare professionals to ask these questions. The asking price will help you get the most out of your plan and reduce your out-of-pocket costs.
5. NETWORKS AND DECLARATION
Most insurance and benefit plans work with health networks to access discounted rates. Generally, the network is made up of medical professionals and organizations that agree, by contract, to charge a discount for the services provided. In many cases, the network is one of the properties that define your program. The discount can vary from 10% to 60% or more. Health network discounts vary, but to make sure you're minimizing your out-of-pocket costs, it's imperative that you preview a list of network doctors and facilities before committing. This is not only to make sure your local doctors and hospitals are in network, but also to see what your options will be if you need a specialist.
Ask your dealer what network you're on, ask if it's a local or national network, then find out if it meets your needs.
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