[su_box title=”Keep in mind…” style=”default”] A Section 125 cafeteria plan lets you pay medical bills in advance of having the money in your account The plan allows employers to provide a tax benefit to their employees The plan’s “use it or lose it” clause may cause it to not be Read more…
[su_box title=”Keep in mind…” style=”default”] United Medical Resources, also known as UMR, is an affiliate company of United Healthcare United Medical Resources is not a separate, stand-alone health insurance company It is a third party administrator that assists in administering plan benefits Companies that self-insure their employees often use third Read more…
[su_box title=”Keep in mind…” style=”default”] A consumer-directed health plan, known as a CDHP, allows you to use funds from a Health Savings Account or a Health Reimbursement Account to pay for routine medical expenses You must enroll in a High-Deductible Health Plan before you can enroll in a Health Savings Read more…
[su_box title=”Keep in mind…” style=”default”] Insurance providers and plan sponsors must manage the plans that they offer A carve-out occurs when providers and sponsors contract-out all or some part of the plan administration At the plan level, carve-out contracts force policyholders to work with two or more companies At the Read more…
[su_box title=”Keep in mind…” style=”default”] Health insurance deductions are for the self-employed Employers, partners, and S-corporations may qualify for these deductions Net profits is one of the fundamental qualifications for these deductions Deductions for long-term care are also available The IRS provides instructions for performing all insurance deductions [/su_box] When Read more…
[su_box title=”Keep in mind…” style=”default”] Most people can continue their health insurance after termination, as long as they were laid off instead of quitting or being fired Usually, benefits can be continued for up to 18 months, but there are exceptions It is important to note that former employees usually Read more…
[su_box title=”Keep in mind…” style=”default”] As a veterinarian, you can purchase a health insurance plan through the American Veterinary Medical Foundation You can also purchase life insurance and liability insurance through this foundation If you do not wish to purchase insurance through the AVMA, you can buy a plan on Read more…
[su_box title=”Keep in mind…” style=”default”] A plan sponsor is typically an employer For public health insurance, the plan sponsor is the federal or state government Plan sponsors create the health care plan for a third party [/su_box] In the insurance industry, there are various parties who may set up insurance Read more…
[su_box title=”Keep in mind…” style=”default”] Employers offer employees group medical insurance The type of plan depends on the employer’s size Plans are governed by each state and the ACA Health plans must meet the standards set by ACA metal tiers [/su_box] According to the U.S. Department of Labor, group medical Read more…
[su_box title=”Keep in mind…” style=”default”] Permanent health insurance is designed to protect a worker in the event they fall ill or are injured and cannot pay for healthcare Permanent health insurance is tax-free There are income protection plans that can be set in place for permanent health insurance policies [/su_box] Read more…
