Health Insurance

When offered employer health insurance, make sure you don't accept it blindly. The employer's insurance can be the best and most affordable option for many. However, that's not always the case. Depending on your situation, you may find a health plan that has better benefits than your employer offers while also being more affordable. When you receive a new plan offer from your employer, take all the details to an agent and ask about your other options. They will compare the benefits and prices and present you with all your options. From there, you can make the best choice for yourself

All health plans must now accept those with pre-existing conditions. Not only that, but companies can't charge exorbitant prices for those with pre-existing conditions. They must also provide coverage for illnesses that the pre-existing condition may cause. Before the Affordable Care Act, those with pre-existing conditions faced denial of coverage and even higher premiums. But with the ACA in place, this is now an illegal practice. Contact an agent to review your coverage options if you believe you're experiencing discrimination due to your pre-existing conditions or currently in a grandfathered policy that doesn't face the same legal requirements.

Once you apply for coverage, someone will review your application. The review ensures that you're eligible for the policy you choose and qualify for any deductions you're claiming. Application reviewers may also check your dependents. Depending on the plan you're enrolling in and your application, approval could take up to a month. If you apply for health care coverage by the December 15th enrollment date, you will be covered by January 1st as long as there aren't any problems with your application. For those who enroll after the December 15th deadline, your coverage will begin February 1st. So the timeline also depends on when you apply. Your insurer also may pro-rate you, so you could have coverage if you need to visit a medical provider during the waiting period.

A deductible is what you'll pay for medical services out of pocket. Once you meet the deductible amount, your insurance provider will cover expenses. Some plans will have low deductibles, while others will be pretty high. Then there are plans with no deductible. Here, your provider will begin covering expenses immediately. It may seem like a no-brainer that you'd want no deductible. But the lower your deductible, the more you'll typically pay monthly. For those with no deductible, the monthly premium may be pretty high. You can get a quote on what plans are available to you, and an agent can help you weigh the pros and cons.

Lake Region Agency Insurance offers three categories of health insurance plans: group plans, individual disability insurance, and individual & family health insurance. The number of available options within each category will depend on your specific situation. For example, you may be eligible for a Medicare plan based on your age. Based on your income, you may qualify for Medicaid. You won't qualify for every option we have to offer. But that's why we're here. We let you know every plan you'd be eligible for, help you decide what's best for you, and then get you through the application process

There are two periods when you may be able to sign up for a new health insurance plan: during a major life event or the open enrollment period. Qualifying life events include aging out of your parent's plan, getting married/divorced, or losing your job. You can sign up for a new plan or change the terms of your existing one during these events. If there's no major life event preventing you from continuing with your current plan, you'll need to wait for the open enrollment window. This period is in November and early December of each year. Contact Lake Region Agency today, so you can learn more about whether it's time to sign up for a new health insurance plan.