If you are the legal guardian or foster parent, your grandchildren can be added to a healthcare plan you purchase on your own through your employer until they reach the age of 26. If you are not the legal guardian, they will not be covered in your individual or employer plans and you will have to look at other options.
Medicare is and will remain as individual health insurance only for those 65 and over. If you are on …
The Patient Protection and Affordable Care Act, signed into law on March 23, 2010, was amended on March 30, 2010 by the Health Care and Education Reconciliation Act. Affordable Care Act (ACA) refers to the final version of the law.
Click “Read the Law” and check out the information and links at http://www.healthcare.gov/law/.
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Health Insurance Plan costs can be broken into two categories: cost of having the plan and costs of using the plan. In order to purchase and continue to have health insurance coverage, you have to pay a premium. The premium is paid on a regular basis such as a certain amount monthly, quarterly or yearly. It is typical that when purchased through your employer, the plan premium is deducted from each paycheck. Basically, the premium buys you the health …
In the world of health insurance, there are separate and distinct types of insurance plans. In general, the three types of plans are Exclusive Provider (EPO) network, Preferred Provider (PPO) network, and Point of Service (POS) network. These plans differ by cost and types of coverage provided.
The Exclusive Provider network or EPO is a managed care plan where services are covered only if you go to doctors, specialists, or hospitals in the plan’s network (except in an emergency). This …
In the past, each hospital has been able to select which insurance plans it will accept. This could mean that if you got sick or injured while traveling, for example, and you had to visit an emergency room that you may have had to pay entirely out of pocket for care provided at that distant hospital if they “didn’t take your insurance.”
This will no longer happen to a large degree. All Marketplace plans will offer the same set of …
A spending plan is just exactly that, a plan for how you will spend all the dollars your earn and those given to you (including, hopefully, directing some to savings). To make a change in your spending plan such as adding in health insurance costs or taking on a new car payment, it helps to be as inclusive as possible when calculating all of your monthly expenses. In other words, don’t write in only the premium cost, but include some …
Because your premiums are deducted pre-tax, this means that you purchase your health insurance through your employer and are responsible for paying a portion of the cost. Health insurance is canceled when you quit paying the premiums.
Assuming that you will be receiving health insurance from another source in the future, work with your employer’s human resources office (in a small company that might even be the person who handles payroll) to stop paying the health insurance premiums.
Make sure …
In most instances, the answer is no. Premiums and deductibles are two separate payments related to an insurance policy. A premium is paid to simply have insurance coverage in place regardless of whether or not a claim is ever made. A deductible is paid if there is a claim and is the amount paid out of pocket by the insured before insurance benefits are received.
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