Chicagoland Health Insurance
Health & Money
Did you know that health insurance may be the most important type of insurance you can carry? Don’t wait another minute to get your coverage! Consider these facts about health and money:
- If you’re one of the nearly 46 million people living in the United States without health insurance, unexpected medical bills can have a devastating impact on your life. The purpose of health insurance is to help you pay for care. It protects you and your family financially in the event of an unexpected serious illness or injury that could be very expensive.
- You need health insurance because you cannot predict what your medical bills will be and because it's the LAW! If you have health insurance, you will have peace of mind in knowing that you are protected from most of these costs. You should not wait until you or a family member becomes seriously ill to try to purchase health insurance, and with the new law, you can't buy insurance at any time of the year. You will only be allowed to buy during the Open Enrollment or if you have an event that allows you a Special Enrollment (ie. Getting married, losing group coverage).
Individual Chicagoland Health Insurance Plans
Until recently, most people got their health insurance from their employer. People with low income got their health insurance from the government. But now, more and more people are buying private health insurance plans tailor-made for individuals. If you are one of these people, you should be seeking an individual health insurance plan from CB Health Insurance now.
Why choose CB Health Insurance?
Because we are an independent agency offering real time health insurance quotes and online applications from multiple health insurance companies. We believe in total transparency. Compare options and then apply online from the convenience of your own home or office. The experts at CB Health Insurance will help you choose from:
- HMO plans: An HMO, Health Maintenance Organization, requires the individual to get all their care in the HMO network and must be referred by their primary care Dr. Typically the out of pocket costs are must less in an HMO than other types of insurance. For many years these plans are not available on an individual basis in the state of IL, however since the 2014, you can now buy an individual HMO both on and off the marketplace. And we can help you shop!
- Major Medical: Provides benefits for most types of medical expenses that may be incurred. Offering more complete coverage with fewer gaps, major medical insurance covers a much broader range of medical expenses – including those incurred both in and out of the hospital, including physician services and diagnostic tests. Many insurance companies offer PPO plans (Preferred Provider Organization) with first dollar benefits, such as Dr. office copay, Emergency Room copay, and RX drug cards, when using the PPO network. Also available are HSA plans - these are high deductible health plans that are approved by the government. If you are enrolled in an HSA type medical plan, you are allowed to set up an HSA bank account - Health Savings Account. You can make tax-deductible contributions to your HSA account, and the $ can be used TAX-FREE for any un-reimbursed medical expenses; eligible expenses include deductibles, copays, and dental and vision expenses.
- Short Term Medical - STM: Short term insurance is typically purchased for a designated length of time, generally 1- 6 months. At the end of that time frame the policy ends. It is designed for people with temporary needs - between jobs, recent college grads, people waiting to enroll in their Employer group plan. It is major medical insurance with annual limits and no coverage for pre-existing conditions, and is fully underwritten, which means they can decline you! For this reason, it is NOT ACA compliant and we don't recommend you have this for more than 3 months. (If you go without an ACA compliant plan for more than 3 months, you will mostly pay a tax penalty!
- Surgical policies: Most health insurance plans sold today are major medical plans but there are a few hospital and surgical health insurance plans on the market. Surgical health plans often aren't as comprehensive as major medical plans, but are typically less expensive.These too, are not ACA compliant. Best to use this to supplement coverage, not as your main insurance.
- Dread Disease Policies: Often called “cancer policies,” dread disease policies cover one or more dread disease: cancer, heart disease, or other major malady. Again, these plans will supplement your primary major medical insurance and provide dollars to you (not the hospital or Dr.) should you have a claim. The money can be used to help pay your deductibles, cover expenses that are not covered by your medical policy ie. the hotel you stayed at while your spouse got treatment out of state or extra money to help pay your bills while your you are in the hospital and can't work.
- Hospital indemnity: A hospital indemnity plan provides a daily benefit for each day you are hospitalized -- and this is paid without regard to the hospital expenses incurred. This daily amount is paid to you and the benefit is triggered simply by confinement as an inpatient. Honestly, you won't see these much any more. They are not ACA/Obamacare compliant and don't provide the benefits required under the law. However, cancer poilcies are a type of "indemnity plan", paying a specific dollar amount for a specific claim.
CB Health Insurance Your Chicagoland Health Insurance Expert
Since 1989, CB Health Insurance has been a leading Illinois -based insurance advisor for individuals, families, and small businesses. We have earned a high level of respect for our service with our clients and insurance carriers. So what are you waiting for? You owe it to your health to get your expert consultation today!