Am I locked in to any one health plan?

Am I locked in to any one health plan?

Am I locked in to any one health plan?
No, the major medical companies we quote have no lock in period. You can keep
your plan for as little as 30 days.

Can my monthly rates change?
Most carriers guarantee a 6 to 12 month lock on rates. With the exception of a
birth date that puts you in a different age bracket. Rates increase yearly due to
continual rise in medical costs.

Can my plan be canceled?
Your plan can not be canceled due to illness or injury. They are guaranteed
renewable. Plans can be canceled if you fail to make payment, falsify information
or move to out of service area.

Can I change my plan deductible?
You can raise your deductible at any time. In order to lower it, you will have to
reapply.

Is physical required to apply?
No, but due to certain pre-existing conditions, they may request medical records.

What are the advantages of a group health plan?
Insure all employees regardless of health.

Are pre-existing conditions covered?
Some carriers will cover pre-existing from day one as long as you have not had a
lapse in coverage of more than 63 days. Some carriers will put a 12 month
waiting period on the conditions. Others may add a rate up in order to cover them.

What is an HSA?
A health savings account that was enacted in law in 2003, effective Jan. 1, 2004.
Participants enroll in a high deductible insurance plan. Then they can open up a
tax deductible savings account to cover current and future medical expenses.
Money deposited in the accounts are tax free and usually collect interest. They
then can be deducted tax free for medical to pay for medical expense. Unused
balance can roll from year to year tax free. Then, can be taken out at age 65 tax
free. If taken out early for non medical expense, you will be taxed and could have a
penalty.

What is a PPO?
A network of health care providers that offer medical services at a discounted rate.
PPO members usually make their own decision about their health care instead of
going through their primary care physician. The cost to use PPO network is less
than a non-network.

What is an HMO?
Prepaid health plans for which premium is due each month. The costs of care
covers your care to see the doctor within their network at a pre-negotiated rate.
You are required to choose a primary care physician that takes care of you and
makes referrals to any specialists you may need. If you do not use the doctors on
your plan, you may be required to pay for those medical services.

What is POS?
A certain managed care plan combining features of the HMO and PPO. You may
choose whether to go to a network provider and pay a flat dollar amount or to an
out-of-network provider and pay a deductible and or coinsurance charge.