Newsroom

ClaimLinx invites you to Uncommon Strategies Webinar

ClaimLinx is inviting you to join a zoom call with Lifetime Financial Group (LFG)  and Tom Wyatt. The meeting is to go over uncommon strategies that will help you run your business more smoothly. This session is a must for any client who owns a business, their accountants and any other professionals who serve them.

LFG is very excited to announce that Tom Wyatt, will be the next speaker in the UnCrowded Wisdom seminar series! Tom is LFG’s resident expert on topics that are important to your business owner clients.

  • Optimizing cash flow
  • Personal finance and how business owners need to think differently.
  • Using benefit plans to attract and retain talent
  • Maximizing the value of the business prior to selling it
  • Tax minimization in the current economic environment

Tom Wyatt has 24 years of experience in business planning, retirement planning, executive benefit programs, charitable planning, and individual planning. He has clients from the east and west coast, the businesses he works with could have a few associates to thousand employees. He helps with business owners needs, including planning and business exit strategies.

How To Join

Tuesday, July 12th, 2022

12:00 pm- 1pm (EST)

Click here to Register 

Receive an official invite from LFG by clicking here

Update Enrollment Forms

As we are nearing the middle of the year, ClaimLinx is updating its forms and processes. This will affect all current members and administrators.

Starting June 15, 2022, all enrollments (existing Members & New Hires) must complete the following forms:

  1. Provider Information Form
  2. Protected Health Information Release Form

The ClaimLinx service team will be working with administrators to collect the Provider Information Form and the Protected Health Information Release Form from members. They are crucial for communicating with provider offices and insurance companies.

What is the Provider Information Form?

This form tells our team members which provider offices members and their families will be using. Having this information allows ClaimLinx to update its database and reach out to the provider’s office.

Typically, ClaimLinx sends information to the provider office to let their billing office know how and what documents to send to ClaimLinx. We find being proactive provides a better experience for members.

What is the Protected Health Information Release Form (or HIPAA Release Form)?

Once signed by the member, the form authorizes ClaimLinx staff members to speak with other companies, such as provider offices or insurance companies, on the member’s behalf.

We must have a copy of this form for each member and for each person on the plan who is over the age of 18.

Signing the form allows our team members to provide a more seamless service experience.

How can I sign the forms? 

The forms are available to sign on the ClaimLinx website. Click here to fill out and sign the form.

Once complete, the form will automatically be sent to the ClaimLinx enrollment team and added to our records.

Or you can download a copy of the form and send it to enrollments@claimlinx.com.

Where can I send the form?

If you fill out the form on the ClaimLinx website, you do not have to send the form separately. Click here to get started.

Or you can download a copy and send the completed form to enrollments@claimlinx.com.

For any questions, please contact enrollments@claimlinx.com

 When does ClaimLinx need the form?

ClaimLinx needs these forms for all members as soon as possible. Please click here to fill out the form now.

Or download a copy and send the complete form to enrollments@claimlinx.com.

The Service Team will be working with the plan administrators for each client to collect these forms from members.

Who to contact with questions?

If you are having trouble filling out the forms or are not sure if you need to submit the forms, contact service@claimlinx.com. Our team members are happy to assist.

Do You Need Supplemental Health Insurance?

Do You Need Supplemental Health Insurance?

If you already pay for health insurance, the last thing on your mind is that you need supplemental health insurance. However, if you dig through what a traditional plan has to offer, you’ll find that there are a lot of exclusions and gaps in plans, which can lead to high liabilities.

Do You Need Supplemental Health Insurance?

What is Supplemental Health Insurance?

A supplemental policy works alongside your traditional policy to offer enhanced coverage options. For example, your normal policy may have very limited, or no, dental coverage offered.

In this case, you can find a supplemental plan to cover these additional costs.

However, these plans can protect against financial burdens that many health insurance plans put on policyholders, including:

  • Deductibles for hospital care
  • Dental coverage
  • Eye coverage

You’ll also find some of these plans are for specific conditions and diseases, such as cancer screenings. There are also options for things, such as pregnancy, so the plan would cover things, such as the birth of the baby and prenatal care.

Supplemental Insurance Cost Basics

Supplemental health insurance is an additional insurance, on top of your standard coverage, and it’s 100% separate. You can add or remove the plan at any time, and this means that it will come at an additional cost to you.

The plan’s price can be drastically different.

You might find a plan to cover eye care that is $10 and one for cancer that is $500. Age is also a major factor in calculating a plan’s premiums. The older you are, the higher the cost will be for your premiums.

These plans have monthly premiums, but they also have standard costs, which may include:

  • Copay
  • Deductible
  • Coinsurance

It’s crucial for you to analyze each plan to best understand the costs involved and what your true, monetary obligations are under the plan.

Types of Insurance Plans Available

Supplemental plans vary drastically, but you’ll find plans for numerous, specific circumstances. A few of the most common types of plans and when they’re ideal, include:

  • Hospital insurance, which is designed to cover the costs for people with ongoing medical issues that need to go to the hospital often
  • Critical illness insurance, which is designed for anyone with a specific, high-risk illness
  • Long-term care, ideal for anyone that is aging and fearful that they will need long-term care
  • Accident insurance, a type of plan that is designed for athletes or entertainers in the event that they have an injury

You can also find vision, dental and orthodontic plans, often sold as add-ons to your policy, and these plans may be combined or separate. Since everyone is different and has their own set of medical concerns and/or risks for certain conditions, it’s crucial to sit down with a professional to ensure that you have supplemental plans that offer you maximum coverage.

Supplemental health insurance plans offer you peace of mind that if you need to go to the hospital or have a critical illness, your medical bills will be covered. If you feel that your regular policy doesn’t provide adequate coverage, consider one of these plans.

dental-insurance

Choosing Insurance: 5 Key Factors In Deciding On Health, Dental, & Vision

Choosing health, dental and vision insurance is not a decision to take lightly. Your coverage will have a direct impact on your ability to obtain the healthcare services that you need. There are several factors to consider when choosing insurance. We’re going to cover five of the most important ones.

5 Factors in Choosing Health, Dental & Vision Insurance

1. Premiums

When choosing health, dental & vision insurance, the cost will be one of the first things that you consider. Your premium is the amount you pay for your insurance policy. Premiums are paid monthly, and if you fail to pay them on time, you risk losing your coverage.

It’s crucial to weigh the cost of the premiums carefully. Are they within your budget? If not, then consider another plan.

2. Out-of-Pocket Costs

Premiums are just one piece of the puzzle when it comes to health insurance costs. You will also be responsible for out-of-pocket costs, which can include:

  • Deductibles: The amount you pay for covered healthcare services before your insurance coverage kicks in. Once deductibles are paid, coinsurance and copayments may still be required, but the insurance company will cover the rest.
  • Co-payments: The fixed amount you will have to pay for a covered healthcare service after your deductible is met.
  • Co-insurance: The percentage of costs you will have to pay for a healthcare service after the deductible has been paid.

Out-of-pocket costs will vary from one plan to another. Generally, the lower the out-of-pocket costs, the higher the premiums and vice versa. Make sure that you are comfortable covering these costs.

3. Network

In most cases, health insurance plans have provider networks. These providers accept your insurance coverage, and you cannot go outside of the network if you want insurance to cover the cost of care.

Medicine, services and providers that are outside of that network may require additional payment or may not be covered at all.

When comparing policies, consider whether your preferred healthcare providers are in the network and accept your insurance.

4. Coverage Limits

Check the policy’s coverage limits, especially for dental insurance. Dental insurance policies may not cover all of the procedures you need or may limit how much they will cover. For example, dental plans often have coverage limits of $1,000-$1,500.

For all policies you are considering, make sure that you keep the coverage limits in mind. These limits will affect your ability to get the care and services you need.

5. Prescription Drug Coverage

Does the plan offer prescription drug coverage, and if so, how much? Most plans will offer some level of coverage for prescriptions, but if someone on your plan requires ongoing medications, you may need a plan that offers more coverage.

Final Thoughts

Take your time when choosing health, dental & vision insurance. Find a plan that fits in your budget but also provides the coverage that you need. Dental and vision plans often have limits that must be taken into consideration, especially if you or a covered family member has ongoing issues with their dental or vision health.

 

small-business-insurance

Finding The Right Health Insurance Coverage for Small Businesses

Shopping for small business health insurance doesn’t need to be a hassle. With the proper guidance, you can find the health insurance coverage that fits into your employees’ budgets and makes you an attractive employer for top-tier talent.

The Benefits of Offering the Best Small Business Health Insurance

Employee benefits are one of the main deciding factors when applying for an open position at a company. If you offer health insurance, you’ll benefit from:

  • Attracting new talent to your workforce
  • Retaining talent and reducing employee turnover
  • Improving employee satisfaction
  • Boosting your business’s image

Finding the right health insurance coverage options requires you to do a few things:

Finding the Right Small Business Health Insurance

Compare Quotes from Multiple Insurers

Insurers are competing for your business, and every insurer has its own perks and benefits. For example, some will offer you better costs while pushing the cost to your employees. Other insurers may offer wellness options or better network availability.

Comparing quotes and options from insurers will help you:

  • Gauge the average cost for insurance in your industry and area
  • Consider all available coverage options
  • Much more

You can also work with a health insurance agent. An agent will help narrow down your options, work to find the best insurance for the value and explain how the entire process works. If you choose to work with an agent, you’ll often maximize the benefits available to your workforce.

Review All of the Basics

Insurance goes beyond price. As an employer, you should also consider the network coverage in your area. If there’s a lack of options in your area, this can lead to employees not being able use the full coverage.

You also want to consider:

  • The extent of the provider network and any plans for expansion
  • The ability for employees to compare plans
  • Deductible and out-of-pocket expenses
  • Mental health coverage options
  • Customer service options
  • State availability

If your office is on state borders, it’s crucial to ensure that there is coverage in both states. A few other things to consider are whether customer service is responsive and willing to help employees through any issues they may have. Spending accounts are becoming popular, and they may be something to consider, too.

And, of course, discuss plan options for small businesses. You may find canopy options work best, or you may need an HDHP option for your workforce.

Consider Supplement Plan Options

Health insurance doesn’t cover all health-related issues. For example, if a person has an infected tooth, it’s not covered under a typical plan. Supplement plans can fill in gaps in health insurance to maximize the benefits that your workforce receives.

A few supplemental plans to consider are:

Employees may need dental and vision care, and these supplemental plans will help them receive the care they need at a price they can afford.

Health insurance is one of the most basic, valuable benefits that you can offer to your workforce. If you follow the guidelines above, you’ll have a much easier time finding plans that work well for your employees and business.