1520 Huguenot Rd., St 115, Midlothian, VA 23113
Increased health care costs and the continued rise in insurance premiums are still a major concern for individuals and families. And selecting the right health insurance plan is absolutely essential. There are 2 types of health insurance in the market place - Fee for Service and Managed Care. The differences in the 2 plans include the choice of providers, out of pocket costs for covered expenses and how bills are paid.
1. Indemnity Health Plans allow you to choose health care providers. You can go to any doctor or hospital for a set monthly premium. The plan reimburses you or your health care provider for services rendered. A deductible may be required under this plan and often there is an annual limit on out of pocket expenses so that once an individual or family reaches the limit, the insurance covers the remaining eligible expenses in full.
2. Basic & Essential Health Plans provide limited benefits at a much lower cost. One important thing to consider when looking at these plans is they don't cover basic treatments like chemotherapy, certain prescriptions and maternity care. These rates also often vary based on age, gender, health status, occupation and geographic location.
3. Health Savings Accounts are a savings product designed to offer a different way to pay for health care. HSA's enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax free basis. However with HSA's you're normally required to buy a high deductible health plan as well.
4. High Deductible Health Plans also referred to as catastrophic health plans are health plans that kick in only after a high deductible is met. Normally $1000. for an individual and $2000. for a family.
1. Health Maintenance Organizations offer an extensive network of participating physicians, hospitals, and other health care professionals. You must select a primary physician from the list of providers and your health care is coordinated through this doctor. Generally, you pay fewer out of pocket expenses with this plan; however you are charged a fee or co payment for doctors visits and prescriptions.
2. Point of Service is an indemnity type option in which the primary care doctors in this plan usually make referrals to other providers in the plan. If a doctor refers you to a doctor out of the plan, the plan pays most or all of the bill. If you select a doctor out of the plan a co payment is normally required.
3. Preferred Provider Organizations charge on a fee for service basis. The participating doctors, hospitals and health care providers are paid by the insurer on a negotiated, discounted fee schedule. Costs are lower if you use providers in the network but you do have the option of going out of the network but you will be required to pay the difference between what the provider charges and what the plan pays.
1. Medicaid is a federal/state public assistance program. It's administered by the state for people whose income is insufficient to pay for health care insurance.
2. Medicare is a federal government program for people 65 or older, or those with certain disabilities, that pays part of the costs associated with hospitalization, surgery, doctor's bills, home health care and skilled nursing care.
3. State Children's Health Insurance Program is administered at the state level and provides health care to low income children whose parents do not qualify for Medicaid.
4. Military Health Care includes TRICARE/CHAMPUS (Civilian Health and Medical Program of the Uniformed Services) and CHAMPVA (Civilian Health and Medical Program of the Dept. of Veteran Affairs) as well as care provided by the Dept. of Veterans Affairs.
5. State Specific Plans are available for income uninsured individuals and often have different names in different states.
Not sure which plan is best for you? That's where our personal service comes into play. Let us examine your situation and make the best recommendation.
Life & Health Insurance
Monday - 8:30 am - 5 pm
Tuesday - 8:30 am - 5 pm
Wednesday - 8:30 am - 5 pm
Thursday - 8:30 am - 5 pm
Friday - 8:30 am - 5 pm
1520 Huguenot Rd., St 115
Midlothian, VA 23113
Phone: (804) 794-7620
Fax: (804) 794-6175