Blue Cross and Blue Shield IL
Blue Cross is the only company in the Chicagoland area that offers PPO plan on and off the marketplace. They have an entirely new portfolio of plans for 2018 and offer lower deductibles on many plans that in previous years. The PPO plans include a free Teledoc service that can be accessed for the price of a copay. Shop for FREE - Check out the plans, rates, and apply using the link below!
Critical Illness
Critical illness insurance Pays you CASH when you have a qualifying Critical Illness. Plans can pay out a TAX FREE benefit from $10,000 - $50,000 for things such as Heart Attack, Stroke, Cancer, kidney failure, paralysis, coma, coronary bypass. Have you asked yourself, can you afford a life-threatening illness? With deductibles and out of pocket costs in the thousands of dollars, few people have this money saved for a medical emergency. And what happens to your paycheck when you can’t work for weeks? How long until you run out of vacation and paid sick time? Critical Illness insurance can help pay deductibles and other medical bills as well as the day-to-day expense that don’t go away during an illness (mortgage, utilities and other bills). For pennies on the dollar, a Critical Illness plan can help soften the blow of these unexpected costs. Click the button for your own personal quote. Below are articles on the subject:
Critical illness coverage. Do you need it?
The growing cost of a hospital stay
Health Savings Account (HSA)
A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. - Wikipedia
Individual Vision Insurance
Vision insurance when your employer is not providing it costs about $15-$60 per month for individuals and families. Most plans basically offer the same benefits around a $15 copay for an exam, around $120 for glasses or contacts with a discount on any additional amount. Popular vision plans are with VSP and Humana.
Individual Dental Insurance
Routine dental care. Plans generally cover some or all of the costs for oral exams, cleanings, fillings and X-rays. The vast majority of coverage is provided through employee and group policies, plans that charged annual premiums of between $334 and $532 per person in 2016, according to NADP estimates. The cost for you to buy an individual policy averages about $360 a year.
Short Term Health Insurance
Short Term Medical (STM) insurance is designed to give someone health insurance/medical coverage for catastrophic events for a short period of time.
Telemedicine
Blending technology and engagement is allowing progressive employers, third party administrator and health plans to reduce costs, redirect claims and improve care while delivering innovation that consumers demand. Just like Uber did for transportation or OpenTable did for dining, individuals can be in control of their healthcare through choice, transparency, connectivity, and cost savings never before seen in a single platform.
Do’s and Don’t’s
Helpful Hints to Complete an Application
Since the start and availability of ACA plans in 2014, health insurance applications have become simplified. There are no medical questions to answer, no pre-existing conditions to worry about. You will get coverage for all conditions day 1 of your policy. In addition, insurance companies cannot rate you or charge you more money for any medication conditions, prescriptions taken, or due to your height and weight. The only things the premium can be based on are 5 items:
- Your Zip Code (policies are rated by county)
- Your Age
- Smoker/Nonsmoker - Max charge is 50% more for smokers; however, most companies charge must less or no rate at all
- Number of people covered (spouse, dependents, etc.)
- Plan chosen - Bronze, Silver, Gold, and HMO vs PPO
Do's and Don'ts ...
DO need to apply by the 15th of the month to get coverage by the following 1st of the month.
DON’T expect that you can apply today and get coverage tomorrow! The new plans are ONLY effective on the first of the month. If you need coverage for a month or two before the new plan kicks in, purchase one-month Short Term Medical. NOTE: Short term policies are NOT ACA approved, and if you have these plans longer than 3 months, you will pay a tax penalty at the end of the year for not having adequate coverage as defined by the law.
DO need to pay the first premium within a 30 day grace period of the policy effective date or you will not have insurance. Many people went on and off the exchange last year and said "send me a bill". This is fine and you will be billed, but because of the high volume and extended deadlines to apply last year, some people did not get their premium on time. So many carriers gave a grace period up to 30 days from the effective date to get the premium paid.
DON’T need to pay the full premium if you are getting a TAX CREDIT from the government. You will need apply for the TAX CREDIT through the government website; most companies have links from their website to go to the 'marketplace' and get this tax credit. If you qualify, you can receive the TAX CREDIT one of two ways: 1) apply towards your premium so that you pay the reduced amount ie. The total premium for your coverage is $350/month, and you receive a tax credit of $50/month, you only need to pay $300/month to the insurance company; or 2) you can pay the whole amount and use the tax credit when you file your tax return. Most people take option 1.
DO need to either select a Pediatric dental plan for children under age 19 or verify that you have the coverage elsewhere. The law states that one of the mandatory Essential Health Benefits that must be covered now is for Pediatric Dental. However, many insurance carriers chose not to EMBED this coverage in the medical plan, requiring you to purchase a separate dental policy to cover this. Remember the law states you must have this coverage or pay a penalty, so be sure you have it!
DON’T think you will be able to buy outside of open enrollment. The new rules are as follows: You must purchase a policy or make changes to your policy during the annual open enrollment: Nov 1st - Dec 15th starting in 2017. If you don't change, you will be stuck with your current plan or without insurance and will not be allowed to make changes or buy a policy until the NEXT open enrollment at the end of the year.
DO understand that we are living in a new world or rules, and it is important that you get some type of coverage that avoids the penalties under the law. Keep in mind that you can purchase a policy IF YOU HAVE A QUALIFYING EVENT such as losing group coverage, getting married, having a baby, moving to another state and out of the 'servicing area' of your current plan. Not paying your premium on time and lapsing your policy is NOT a qualifying event!
DON’T panic! If you get stuck and need help, you can count on CB Health Insurance! We are here to help you and walk you through your options and help you find the BEST plan that meets your needs and budget!