12. November 2017 13:44
by Harry
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3 Reasons You Should Sign up for Health Insurance

12. November 2017 13:44 by Harry | 0 Comments



Early this year, a spike in flu cases was seen across the country. According to the CDC, 104 children died across the country during the 2016-2017 flu season. The CDC doesn’t track how many adults die from influenza each year. To prevent yourself and members of your family from falling ill, being hospitalized, and missing work and school, be sure to get a flu shot. The CDC recommendations for 2017 include getting vaccinated before the end of October. If you’re wondering whether health insurance will cover the injection, the U.S. Department of Health & Human Services (HHS) says your health insurance company is required to cover flu shots without charging a co-payment, but you may need to visit a specific facility.

“Some insurance plans only cover vaccines given by your doctor or at a limited set of locations,” says the HHS.

Here are three more reasons to sign up for health insurance during the 2017 Open Enrollment period.

Accidents Happen

If you get into an accident while driving to or from work, and you don’t have health insurance, you could wind up having to pay a few thousand dollars for an emergency room visit or tens of thousands of dollars for long-term care.

Heath care plans vary, but all of them at least partially cover the following:

  • Emergency room visits
  • Outpatient care
  • Inpatient care
  • Lab tests
  • Prescription drugs
  • Rehabilitation services, such as physical therapy and psychiatrist appointments
  • Dental and vision care
  • Pre- and postnatal care
  • Substance abuse rehab
  • Preventive services, such as screenings and vaccinations

In case you’re still on the fence about whether you want to part with a monthly payment, more than half of consumers who signed up for 2016 Affordable Care Act coverage selected a plan with a monthly premium of $100 or less after tax credits. That $100 per month is a lot less than you’ll spend if you’re hospitalized after a car accident and, unfortunately, odds aren’t in your favor. According to the Department of Transportation, someone was injured in an accident every two minutes and eight seconds in 2016. Additionally, the US lost 35,092 people in traffic crashes in 2015, ending a 5-decade trend of declining fatalities with a 7.2% increase in deaths from 2014.

Some Colleges Require Health Insurance

Not only may the federal government charge a penalty for not having health insurance, some universities require students to have their own plan or remain enrolled on their parents’ policy. If you’ll be attending college this year, contact the admissions department to see how this affects you.

It’s the Law

The Affordable Care Act requires everyone to have health insurance. If you don’t, you may pay a penalty come tax time.

Should You Sign up During the 2017/2018 Open Enrollment Period?

Health insurance is a wise investment, but if you can’t afford any of the plans on the Health Care marketplace, contact Freeway. Our friendly, knowledgeable representatives will help you find a plan that fits your budget. 

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11. September 2017 22:53
by Harry
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Corporate Health Insurance Trends You Need to Know

11. September 2017 22:53 by Harry | 0 Comments

The ever-rising cost of corporate health care is expected to increase by 4.4 percent this year. Couple that with rising pressure from hard-fought efforts to maintain compliance with the federal government’s Affordable Care Act, and some employers have chosen to waive benefits, placing more responsibility onto their employees, who pay more both in premiums and out-of-pocket costs.

According to a survey released yesterday, workers are paying roughly $100 more per month in medical costs than they were three years ago, and can expect to pay 37 percent of the expenses acquired from company health plans this year. That’s an increase from the 34 percent in 2011.

A higher price tag isn’t the only change employees will have to deal with in the near future. The study suggests that employees also will be required to shoulder more of the costs for covering their spouses and dependents. Although today, roughly 70 percent of employers believe offering subsidized insurance for spouses is important, more than half believe it will not be important in 2015 and beyond.

Get fit for $50

Employers are looking to make proactive changes, too. Incentive health programs is a method many companies are implementing in order to improve the overall health of their workers, and therefore, decrease visits to the doctor’s office, clinic or hospital.

In increasing numbers, companies are offering an array of wellness activities to the workforce, such as boot camps and weight-loss competitions. Oftentimes, cash is the ultimate prize; on average, employees who complete all available programs could be $50 richer.

Retired and uninsured

Another serious issue facing employees – especially those considering retiring before age 65 – is the possibility that they may not have insurance coverage upon retirement. Public exchanges may become the sole option for pre-65 retirees as a reported 66 percent of companies are likely to eliminate access to coverage.

Where do we go from here?

According to the survey, only 25 percent of companies were confident they’d be providing current benefits to workers by 2024. Employers and employees need to start planning now for what’s to come. With rapid change taking place on a daily basis, “later” could mean “tomorrow,” so action planning should start today. For employees, perhaps that just means educating yourself on these trends and options, while for employers, it could mean a reconfiguration of your benefits strategy.

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