Types of Health Insurance: PPOs, Medicare, Marketplace & More!
Health Insurance can be really confusing! Watch this quick video to learn all about the different types of health insurance.
Call us at iHealthBrokers today at 888-410-0344. Our services are 100% Free!
★☆★ABOUT THIS VIDEO★☆★
0:00 Intro
1:08 Group Plans
1:39 COBRA
2:04 HMOs vs PPOs
3:38 Marketplace Insurance
6:15 Private Health Insurance
7:13 Short Term Medical Insurance
8:16 Medicare
Group Health Insurance are plans offered by your employer as part of your benefits. Most plans operate as either HMOs or PPOs. HMOs are health maintenance organizations. Generally speaking your monthly premiums will be lower, but you must use an in network physician. Should you need to go out of network, except for a true medical emergency you will pay for the entirety of the costs. HMOs only work with in network doctors. You can however apply for a gap exception under specific circumstances, but be warned, there will be a lot of paperwork!
PPOs are preferred provider organizations. They offer more flexibility but generally speaking with higher monthly premiums. You will pay less seeing an in network doctor, but you will still have coverage with an out of network doctor. An in network doctor has agreed to accept whatever amount your insurance has agreed to pay for a given doctor. An out of network may charge more and generally speaking, your coinsurance will be higher. You need to check these terms with your specific plan. Additionally with a PPO, you will be able to arrange to see a specialist on your own. An HMO requires that your primary care physician arranges any visit to a specialist.
Should you choose to leave your job or if you are fired, you may be eligible for COBRA. Your premiums will be MUCH higher, but you'll be able to keep your exact same coverage.
Another option is marketplace insurance-this is part of the affordable care act. Premiums are determined by your household size and income. You may be eligible for a premium tax credit which can significantly lower your monthly premiums. You want to try to lower your MAGI to increase your eligibility. There are many HMOs to choose from, but few PPOs. You may opt for an EPO instead.
Marketplace Insurance Plans are divided into four metal tiers: Bronze, Silver, Gold & Platinum. The metal tier is determined by the cost share, not the benefits or coverage.
If you are ineligible for a premium tax credit on Healthcare.gov, you may want to look into private insurance. It may or may not be more expensive, but your options are pretty much endless.
One type of private insurance is short term medical insurance. These plans are not offered everywhere and are not for everyone, but may be a great way to save money. They are not ideal for anyone with an expensive preexisting condition because at the very least preexisting conditions will not be covered in the first year. Perhaps, not at all. They are also not ideal for those with young children or people wishing to become pregnant and start a family.
However, if a short term medical plan is for you, you can add benefits and tailor them to meet your needs. STM will only be available until you turn 65, but at that point you can enroll in Medicare.
You will most likely be automatically enrolled in Original Medicare (Medicare Part A & Medicare Part B) when you turn 65. It will cover most of your medical needs. Of course, you have the option to supplement your Medicare coverage with a Medicare Supplement Plan (Medigap), Medicare Part D or replace it with Medicare Advantage.
If you have any further questions, please feel free to contact us here at iHealthBrokers at 888-410-0344 or ihealthbrokers.com/
👇SUBSCRIBE TO iHealthBroker's CHANNEL NOW👇
kzread.info/dron/5jc.html...
★☆★CHECK OUT OUR OTHER VIDEOS★☆★
How to Save Money on Health Insurance
kzread.info/dash/bejne/kYxkz6OdfcKTpMY.html
Short Term Medical Insurance
kzread.info/dash/bejne/nHaZtrCqZ7Srn6w.html
Healthcare Ministries
kzread.info/dash/bejne/dHapkqatmtqWmbw.html
Direct Primary Care
kzread.info/dash/bejne/ZaJppMh9fJfHdrA.html
Parts of Medicare
kzread.info/dash/bejne/lGtpj7GtYt25pco.html
===================================
★☆★CHECK US OUT ★☆★
WEBSITE: ihealthbrokers.com/
PHONE NUMBER: (888) 410-0344
F A C E B O O K: iHealthBrokers/
===================================
Give us a call or leave a comment below and we'll do our best to help! Make sure to "Like" and "Subscribe" today!
Пікірлер: 9
Thank you! This is helpful for my new job for ins verification
Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.
@iHealthBrokers
5 ай бұрын
Thank you for your kind words!
These videos are always good information. I’ve Subscribed. I have a question…I have gone through the iHealthbrokers for my coverage. Decided on a HDHP with a HSA. What happens if I’m out of state or even out of the country with Medical coverage? Like an emergency? Thanks, Michael
@iHealthBrokers
2 жыл бұрын
Hi Michael, thank for your comment! We are so glad we could help. Even without nationwide PPO, you should have coverage for a true medical emergency. Additionally, as of Jan. 1 a new piece of legislation will be in effect that will help to ban surprise medical bills. You can learn more here:kzread.info/dash/bejne/iYKMwcienbCZZdI.html If you're traveling in the US and you don't have nationwide PPO coverage and you need non-emergency medical care, your insurance probably won't cover it. You can pay for qualified medical expenses from your HSA but it's likely to be more expensive without insurance. If you're going out of country, check with your credit card company first. You may have benefits offered through your credit card. Additionally, there is medical travel insurance. We've got a video here: kzread.info/dash/bejne/lIOgm8d6eJyWlMY.html
@ardale4032
2 жыл бұрын
@@iHealthBrokers I'm looking at HC.gov plans and am concerned about the lack of INN coverage outside my area. None of the HC.gov plans have INN coverage outside the state and most have INN coverage only in a limited area of the state (e.g. INN are a few area counties with a medical network associated with a major medical university). And there is no OOP max for OON. The No Surprises Act makes me feel a little better, but I still have concerns. Like what is the definition of a medical emergency? Say I'm out of area and have an emergency. Once stabilized and admitted to a hospital, which charges would be part of the emergency (and covered as INN), and which wouldn't? Are there supplemental plans that can cover the OON scenarios that won't be covered by an HC.gov plan?
@iHealthBrokers
2 жыл бұрын
@@ardale4032 What area are you? Based on your description it seems like a slightly more complicated situation than most. We don't want to make a blanket recommendation without further details BUT there are other options. For example, short term medical plans usually have very low monthly premiums with nationwide PPO coverage. If you'd like to discuss more in depth, please feel free to give us a call at 888-410-0344. There's no charge and no pressure to buy but we'd like to give you more targeted advice based on your options. As I said, based on what you're describing, it seems like perhaps options are a little more limited than most.
If my previous employer covers 100% while my current employer health plan covers 80% after deductible, can I chose COBRA as I am not unemployed but feels COBRA coverage is better 100% ?
@iHealthBrokers
2 жыл бұрын
Your premiums would be more than double what you had been paying in the past.