Health insurance is something your employees want but the many terms and conditions in health insurance coverage can be confusing. First Day Films creates health insurance, medical coverage, and human resources information videos and can help your employees understand their options. One term they need to consider when choosing insurance is the deductible.
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Unemployed? Here’s What to Know About COBRA
If you have recently quit a job or have been fired, you may have the right to continue your health insurance through a Federal law named COBRA. This stands for the Consolidated Omnibus Reconciliation Act and has existed since 1985 with revisions to the program made in 1999. Here’s some good and bad news about COBRA.
5 Things to Know Before You Pick a Health Insurance Plan
There are many health insurance plans and choosing from such a huge pile of plans can be a daunting task. It becomes even more complicated if you take medications regularly and need to figure the cost of medication into your total insurance costs. To help simplify the task somewhat, we offer five things you should know about medication costs when you review potential health insurance plans.
Read more5 Things to Know Before You Pick a Health Insurance Plan
The Metal Categories of the HealthCare Marketplace
The Health Care Marketplace is where people can obtain insurance if they are not covered by a company plan. The insurance coverage levels are often referred to as “Metal” categories: Bronze, Silver, Gold, and Platinum. Catastrophic plans are also available to some people. Here is an estimate of how each plan shares its costs with you (these are estimates only, costs vary per person):
What is a Catastrophic Plan?
A catastrophic health plan is one that can be purchased with relatively low premiums but will primarily cover a major accident or illness. The buyer is responsible for paying most of their normal medical bills not covered under these plans. What is covered includes:
Your Total Costs for Health Care
People may not be prepared for the total annual cost of healthcare if their budget only includes their insurance premiums. Total healthcare costs include much more than that. Let’s review how these costs can quickly escalate.