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What is the basic difference between individual and group health policy coverage?
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Date : 4/2/2009
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An individual policy is purchased by a single person to cover himself/herself or his/her immediate family.
In a group plan, the insurance company contracts with the group, typically an employer. Each member (or employee) of that group is given a certificate that acts as his or her policy. Due to the purchasing power of the group plan, it often costs less than it would for each members’ plan if sold separately. Group health insurance also may contain special coverages that are not available or are very expensive for an individual to purchase.
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What types of health insurance plans are available?
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Date : 10/5/2009
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Health plans typically provide coverage for doctor visits, surgery, hospitalization, and medication for treatment.
Dental plans provide coverage for visits to a dentist and sometimes an orthodontist.
Disability insurance pays a person that has become unable to work due to accident or illness.
Long-term care provides assistance to those people that can no longer take care of themselves. This can include things like delivery of prepared meals to assistance with managing the residence.
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What is the difference between primary and secondary coverage?
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Date : 4/2/2009
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Since some people have medical insurance from more than one plan, insurance companies protect themselves from paying twice for the same claim by determining which one will be the primary provider and which one will be the secondary provider. The primary takes care of all the medical costs until benefits are exhausted, only then will secondary coverage take effect.
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How can I learn more?
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Date : 10/5/2009
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Contact our New Port Richey insurance office to speak to one of our informed agents.
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I think I may have an insurance claim and I’m a client of yours. Can you help me figure out if I’m covered?
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Date : 4/1/2009
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Yes. Contact our insurance agency in New Port Richey. During normal business hours, your agent or one of our staff can answer your questions and guide you through processing your claim.
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Is group health insurance affordable for an employer to offer as part of an employee-benefit plan?
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Date : 4/10/2009
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Group Insurance benefits can be very expensive if the employer offers the highest level of coverage. The cost can be moderated by offering entry-level or higher deducible plans. Many plans will also offer more than one option within the group, so employees can chose the level they can afford.
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Can my business afford not to offer employees insurance?
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Date : 4/10/2009
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Studies and surveys have shown that group insurance benefits are valued more highly by employees than 401(k) plans and even $5,000 pay increases. In order to attract and retain good loyal employees, most experts would agree employee benefits offered are critical.
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Which is the best group health plan?
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Date : 4/10/2009
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HMOs, PPOs, HSAs, HRAs—employers have so many options. There is no single answer as to which plan is best for your employees. An experienced benefits expert can advise you as to the best, most affordable options.
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Which is the best deductible for a group plan?
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Date : 4/10/2009
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Deductibles can be very critical in determining affordability. More and more choices are being made available, but deductibles are only one component of the health plan. Co-pays, Co-insurance, and Out-of-pocket maximums also determine cost and viability.
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Is my business required to pay for employee benefits?
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Date : 4/10/2009
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Most group insurance requires the employer to contribute to the cost of employees’ insurance. The industry minimum standard is 50% of the “employee only” cost. An experienced professional agent can advise employers of options to modify cost.
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