Individual Health Insurance
Individual health insurance, also referred to as major medical insurance or an Obamacare plan, are health policies for people that aren’t connected to coverage through their employer. Many times those that are self-employed, are small business owners and those not offered health insurance through their employer purchase individual health insurance on their own. It’s important to know that carrying an individual health insurance policy is required by law, and those that do not buy health insurance are subject to a tax penalty when filing their tax returns with the IRS.
Group Health Insurance
Group insurance or employer health insurance is what a majority of Americans have for health insurance coverage today. When an employer offers group coverage, individuals are able to purchase a healthcare plan for themselves, and many times their spouse and children. The employer typically pays a percentage of the premium cost, and shares the rest of the expense with the employee. When an employer doesn’t offer health insurance coverage or the employee does not meet the minimum number of hours to qualify for a healthcare plan, they can purchase health insurance on their own through a government marketplace or websites like HealthCare.gov.
Medicare Supplemental Insurance
At the age of 65 individuals are eligible for Medicare, but standard Medicare does not pay for all medical costs. Medicare supplemental insurance helps pay for the medical bills that standard Medicare does not.
Short-Term Health Insurance
Short term health insurance or temporary insurance is a great option for those who become uninsured due to things like job loss, divorce, early retirement, or other circumstances. You’ll get health insurance coverage during the interim until your new employer coverage begins, you qualify for Medicare or Medicaid, or you find some other means for receiving permanent health insurance coverage. Current federal regulations limit short-term medical plans to 90 days of coverage under one certificate of insurance. Some insurers will allow you to apply for up to three additional new certificates of insurance – with each certificate granting another 90 days of coverage at a time. State rules may vary. Each 90-day coverage period you apply for will have an effective date that starts the next day after a previous 90-day period of coverage expires.
Dental insurance is an affordable way to provide extra protection for oral health, especially if an individual has problematic dental history or a family has several children that need preventive check-ups twice a year and routine dental procedures, such as cavity fillings, sealants and more. Dental insurance is affordable, and coverage typically begins right away.
Supplemental Health Insurance
Supplemental health insurance helps bridge gaps in coverage not covered because of high health insurance deductibles. Should an accident or critical illness occur, supplemental insurance pays a lump sum, cash benefit to help cover some, if not all medical bills.