Find the Best Health Insurance

How to Find the Best Health Insurance

Shopping for a plan that is the perfect health insurance plan for you and your family is surely a challenging task. Meeting all the requirements and minimizing the cons can take a lot of research. However, there are some factors that help in narrowing your search and save plenty of your time and effort. Take a look at the following factors. We hope they may prove to be helpful.

 

Choose Your Health Plan Market Place

Many people are provided a health insurance plan through the company they work for. In case you are included in those people then you might not need to search for a government insurances plan or insurance marketplaces. The company you work for is your marketplace.

In case your company offers you a insurance plan, but you want to do a research about what other alternates are present then you are free to do that but it is a fact that they might be a lot more expensive. This is why the company tends to pay portion of the insurance premiums for their employees because on average the total premiums are lower.

You can buy an insurance plan from public marketplace on your state, if it is available. You may also search federal marketplace to find insurances with lowest premiums. The first step to find a health insurance is that you go to Healthcare.gov and enter your zip code while open enrollment is in process. You will be directed to the exchange in case it is present otherwise federal marketplace will be available for you. To buy the insurance plan you can either contact a private firm or can get it directly from insurer.

 

Compare the Types of Insurance Plans

You might see a set complicated alphabetical combinations that might confuse you while choosing for the right insurance plan. Common health plans include, POS, PPOs, HMOs and EPOs. Your choice of insurance plan will determine the benefits you will able to enjoy and what expenses you would have to pay out of your pocket.

Keep in mind to check the basic set of features of an insurance policy before buying it. There is a summary of benefits present with plan and the price is also mentioned with the title in an online marketplace. The hospitals and doctors covered by the particular health plan are also mentioned and the decision must be made accordingly. A benefits administrator in your workplace can provide you details of different insurance plans.

 

Choosing a Plan Based on Hospital Ward

You should never compromise on your health standards. So, you should see that the insurance plan you are choosing provides you A-plus service. If you don’t like to stay between lots of patients, you may choose 1 bedroom or double-A bedroom. If privacy is not an issue for you, you can use 4 bedroom B1 rooms or 8-9 C bedrooms. The more the privacy of the bedroom, the more is the cost and the more are the health insurance premiums satisfactory. Therefore, a good wardroom will provide you comfort but not everyone is able to afford such premium plans.

Upgrading from an A to B ward will cost several hundred dollars and may increase with the increase in your age. You need to make sure you get treated according to the plan you choose and it is up to your standards and the money you pay.

 

Choosing a Plan Based on Benefits and Medical Coverage

After choosing the type of wardroom, you must also compare the benefits and prices of the plans. In this way, you can estimate if your medical expenses will be covered in the money you pay and it will certainly help you in emergencies. The plans offer variations in annual payment, additional benefits, and post as well as pre-hospitalization expenses. The base coverage for all IPs is the same but they differ in packages.

For choosing plans based on benefits, look for annual limits first hand because these benefits provided depend upon their annual limit consumed in a year. Such as the annual limit for A wardroom is far more than the B wardroom and so are the benefits. Also, you should consider if you are covered in case of emergency by pre and post-hospitalization coverage. Psychiatric patients must choose plans with post-hospitalization services. Some IPs also give critical illness coverage so that you are covered if you suddenly suffer a stroke or a heart attack.

The stipulations a plan offers is also an important factor in choosing an IP. These riders provide a variety of benefits in long term. These stipulations include immediate family hospital accommodation, emergency outpatient coverage, coverage for post-hospitalization alternative treatment. They also usually cover 50% of the co-insurance and may even cover the annual deductible.

 

Choosing an IP Plan Based on Cost

The cost of IP plans is the most important factor because not enough money cannot provide you quality service and you may need to pay more or withdraw from the plan. If you are not diseased and don’t require a particular health plan, go for a low-cost plan. The cost increases with age and the standard of the wardroom. For example, if some plan costs 200 dollars for a 20-year-old, the same plan will cost 500 dollars for a 65-year-old. You can estimate if your plan is reasonable, you need to find out the plan’s total coverage per dollar of premium.

You need to make sure that you can afford the increment cost with the age of the plan you choose. If you have 200 dollars annually in your 20s, you should expect it to be $700 by the age of 40. . However, if you have A ward rooms, you need to pay from your pocket at an older age because it costs too much.

Considering all the above factors, you will get yourself a best health insurance at the end of the day. Compare best and worst health insurance companies and find the right one for you.

 

 

Benefits of Offering Health Insurance

No matter what size business you run, offering health insurance benefits your employees provides numerous advantages not only for the workers but also for the company itself. In order to get these benefits of offering health insurance, however, you need to understand how to choose the right plan. The help of an employer consultant like those at ClaimLinx can lead you to the right final decision.

 

Five Health Insurance Benefits for Your Business

 

When making decisions about the possibility of offering medical insurance to your employees, consider these important points.

 

1 – Employee Loyalty Increases

 

When it comes to a list of benefits that workers want, health insurance comes out on top. A paycheck is nice, but coverage for both preventative medicine and emergencies improve the overall impression that workers have for their employer. They also increase overall morale and productivity. A large part of having a successful business depends on keeping all the men and women who work for you happy and satisfied. Do not lose quality workers to other firms that offer more incentives than you do.

 

2 – Jobseekers Value Your Company

 

When you want to attract new talent, offering low-caused group health insurance makes your job opening more attractive to people who have choices. If it comes down to you or a different business, offering health insurance can push you over the top. Basic benefits may not be enough. With so many companies offering insurance these days, you need to make sure you provide the very best coverage at affordable prices.

 

3 – Decrease Federal Taxes

 

If you own or operate a small business with fewer than 25 employees working full-time, you can get considerable tax credits if you offer health benefits to them. Other rules apply to enroll in the Small Business Health Options Program, but you do not qualify all if you do not take advantage of group health rates that make it possible for your employees to get healthcare when they need it.

 

4 – Fulfill Government Requirements

 

The Affordable Care Act has a whole list of rules and regulations that affect how businesses provide healthcare benefits or insurance to their employees. In many cases, a company is required to offer a certain level of coverage depending on the type of workers they have, whether they are full-time or not, and other factors. If you have any questions about these requirements, it helps to speak with a qualified healthcare consultant.

 

5 – Smart Insurance Plans Decrease Cost

 

The final major benefit of offering health insurance at your company focuses on both the business itself and every single worker who has coverage through your chosen plan. As long as you make wise decisions about the policies and covered costs, everything from premiums to monthly bills to tax payments will decrease. When you choose to use an experienced and knowledgeable third-party administrator to handle all these matters, you end up saving even more in the long run.

 

Full-Service Insurance Agency ClaimLinx

What a Full-Service Insurance Agency Can Do for You

ClaimLinx prides itself on being a full-service insurance agency. We offer employer benefit consulting, group health insurance, supplemental insurance, and individual plan consulting. Our dynamite set of services goes beyond what an ordinary health insurance agency does, such as just writing insurance policies once a year. ClaimLinx explains what a full-service insurance agency can do for you in today’s blog.

Year-Round Consulting

Many health insurance companies only consult with you when you’re shopping for a plan for your workers. That process may take less than a month, and then you don’t hear from the insurance agency until next year when the overall plan renews. ClaimLinx does things differently as a full-service insurance company. We offer year-round consulting to save you money on health insurance as an employer-paid benefit.

Making Money on the Savings

Traditional insurance companies typically make money on fees paid to them when they create the initial policy. That’s not how ClaimLinx does things. We earn money on the savings you generate. Our team works with you to choose excellent health insurance coverage melded with a medical expense reimbursement plan (MERP) to lower your costs. We only accept a fee after you save money. 

Superior Customer Service

If you have questions, feel free to contact ClaimLinx at any time. We respond to your questions, comments, and concerns about health insurance as an employer-paid benefit. Our expert team consults with you year-round, explains health insurance coverage in full, and includes complimentary elite services for our clients. You receive a lot more than just health insurance from our full-service insurance company. You get an entire team backing you up as you strive to deliver a great benefit for your employees without spending your entire HR budget.

Talk to ClaimLinx

Stop settling for an average health plan when you have a better solution. Partner with ClaimLinx, a full-service insurance company that lets you make the most of your options. Call toll-free (800) 858-1772 or contact ClaimLinx for more information.

Employer-Paid Benefits ClaimLinx

Common Employer-Paid Benefits That Increase Employee Retention

Employee retention is a delicate balance for small businesses. You want to offer competitive wages and benefits while maintaining cost-effectiveness within your human resources budget. Better retention rates can lower your onboarding and hiring costs, which is why employee retention is a vital aspect of your business model. ClaimLinx explains common employer-paid benefits that increase employee retention.

Health Insurance Benefits

A survey by Willis Towers Watson stated healthcare benefits, including insurance, were the most important reasons respondents stayed with an employer when it came to employer-paid benefits. Nearly half of respondents, or 45 percent, in the 2012 Attraction and Retention Survey cited health benefits as an essential reason to stay there. A Glassdoor survey in 2015 also touted health insurance as valued by 40 percent of respondents. Health insurance continues to be a valuable retention tool when keeping employees with your firm.

Retirement Benefits

The Willis Towers Watson survey also revealed 35 percent of employees said retirement packages were important sticking points. Glassdoor said 31 percent of its respondents liked retirement or pension plans. Consider a 401(k) plan or custom-designed retirement plan for your workers when it comes to employer-paid benefits. 

Time Off

Paid time off, flexible schedules, and family leave are all vital benefits that have value for employees. Surveyed workers wanted extra vacation time that accrues every pay period. Flexible work schedules give parents the ability to spend time with children, run errands, or attend school functions for the kids. A 2019 survey from the Work Institute shows work-life balance concerns are increasingly important for workers. Family leave, paid or unpaid, is an important factor when parents begin to take care of newborns. ClaimLinx can help you develop a health insurance strategy that works with your other employer-paid benefits to optimize your costs.

Education

Education benefits can mean company training or tuition reimbursement. This employer-paid benefit comes in handy for workers seeking a promotion, a raise, or even better job satisfaction. Earning a college degree is one way workers can improve their quality of life while reducing their costs. Consider reinvesting in employees who graduate by increasing their responsibilities or promoting them.

Cost of Employee Turnover

The Work Institute states the cost of employee turnover is $15,000 per person. When you think about how much money you spend on employer-paid benefits, having the right ones in place can lower your turnover costs. In a highly competitive job market, retaining employees is more critical than ever.

ClaimLinx and Employer-Paid Benefits

ClaimLinx is home of the ClaimLinx Simple Option Solution. Our team utilizes a holistic strategy that blends health insurance coverage from a national carrier and a self-funded medical expense reimbursement plan (MERP) for optimal savings. Contact ClaimLinx or call toll-free (800) 858-1772 for more details.