[su_box title=”Keep in mind…” style=”default”] You typically pay your health insurance premium once a month However, you may have other health insurance payments to make in addition to your premiums, such as deductibles and copayments You usually pay your deductible and copayments at or after the time of your medical Read more…
[su_box title=”Keep in mind…” style=”default”] A private health insurance rebate is a refund sent to you by your insurance company Under the Affordable Care Act, you may receive a rebate if your insurer does not meet the 80/20 rule The 80/20 rule requires your insurance company to spend at least Read more…
[su_box title=”Keep in mind…” style=”default”] The cost of your health insurance can vary for a number of reasons If you purchased a high-deductible plan from the Healthcare Marketplace, it can be expensive because you are responsible for paying the monthly premium, in addition to meeting the deductible cost If your Read more…
[su_box title=”Keep in mind…” style=”default”] A health insurance premium is an amount of money that you pay to your insurance company monthly This is not the only cost you have to pay for your health insurance You may also be responsible for copayments and out of pocket costs, as well Read more…
[su_box title=”Keep in mind…” style=”default”] Coinsurance is the consumer’s share of the costs of covered benefits Traditionally, coinsurance starts after customers reach their plan deductible Coinsurance counts towards the limit on out-of-pocket costs under Obamacare Coinsurance is lower among high premium policies than low premium plans [/su_box] Coinsurance is a Read more…
[su_box title=”Keep in mind…” style=”default”] Employer-Covered Health Insurance is considered to be a non-taxable item. It is exempt from income tax, social security, and Medicare Some exceptions to this rule apply such as S-Corporation employees who own more than two percent of the business While not taxable, money that workers Read more…
[su_box title=”Keep in mind…” style=”default”] If you have lost coverage due to a job change or job loss, you can apply for coverage under the Consolidated Omnibus Budget Reconciliation Act, also known as COBRA You can search the Health Insurance Marketplace, also known as the Health Insurance Exchange, and compare Read more…
[su_box title=”Keep in mind…” style=”default”] High Deductible Health Plans have higher deductibles and lower premiums than other plans Customers assume responsibility for expenses up to the deductible amount High Deductible Health Plans work with Marketplace costs reduction and Health Savings Accounts The rules define HDHP by the expense limit, deductible Read more…
[su_box title=”Keep in mind…” style=”default”] The Affordable Care Act provides an open enrollment period for each calendar year the end of the open enrollment is the last day consumers have a right to purchase insurance After the open enrollment, consumers must find an extension of the enrollment or a special Read more…
[su_box title=”Keep in mind…” style=”default”] Eligibility for health insurance under the Affordable Care Act depends on household income Unemployment compensation counts as income for Obamacare eligibility Persons with too little income for Obamacare may qualify for coverage through Medicaid Children and minors can get coverage through the Children’s Health Insurance Read more…
