Archive for the ‘Insurance’ Category

Originally conceived in December of 2003 and finally implemented in January of 2004, the HSA plan was created to work in conjunction with a traditional high deductible health insurance policy.

With medical costs rising out of control and health insurance premiums following suit, congress needed to do something to enable the average individual and family to continue to afford heath coverage. The HSA, or Health Savings Account was the answer.

A Health Savings Account or HSA is just like having a ordinary bank account, but works with a standard, high-deductible, individual, or family health-care insurance plan. The money put into your HSA can be used to pay for many of your health care expenses, including; money you might need before your actual health insurance coverage begins to make payments (deductible). You can also use it towards paying health care expenses not covered by your existing health care plan.

You will never lose any money left overin your HSA., Whatever balance remains annually is simply rolled over onto the next year. With an HSA, you’ll have control over how to spend your money and how best to put it to work. You can use it for health care expenses including prescription glasses, any extra trips to the pharmacy, or unexpected medication your health insurance plan may not fully cover and many over-the-counter items you not normally considered as legitimate medical expenses.

Since the money in your HSA earns interest the same as a regular bank account, it allows you to plan for your future health care needs through interest earnings.

If you happen to change your job or even health coverage, the money in your HSA account remains and continues to earn interest.. As long as you use the money from your HSA account for eligible expenses as defined by the IRS, this money in your HSA account is tax- free! Your HSA dollars will also earn tax-free interest and there’s no minimum balance amount required.

While the Health Savings Account concept did not solve all of the problems inherent in out health care crisis, the HSA does provide relief and a manageable alternative for millions of Virginia and South Carolina residents.

If you don’t want the burden and stress of paying a lot for health insurance coverage, and want greater financial control than an HSA is definitely something you should consider.

Finding Affordable Health Insurance Coverage in South Carolina and Virginia

These days even spending a few days in a hospital can cost more money than your annual mortgage payment.  Obviously you need to have some health insurance coverage in place to protect your family and your assets.

With all the confusion and the choices available to you it’s difficult to know what to look for in an insurance policy.

The first thing you need to do is identify exactly what you want to get out of your health insurance.  Remember, with insurance as in every other aspect of life you get you pay for.  The greater the coverage, the greater the monthly premium.  Decide what it is you need and discuss it with your agent who can point out the virtues or possible failings for each plan, or plan type.

Choosing an independent agent online and taking advantage of the free forms on an agent’s website will enable you to have instant knowledge of your options and potential costs.  These online forms are a very effective way to compare rates and coverage. You can access our instant quote form here in the column on the left .

Whatever you do, do not base your decision on price alone or you may find that the amount of coverage you purchased to be inadequate for your actual needs.  You need to establish a workable balance between costs and coverage.  As an independent agent I  can help with that.

After filling out an online form call me at (843) 297-8162.  Let’s discuss co-pays deductibles, pre-existing conditions and maximum payouts, things you may not have considered.

Knowing your coverage, knowing what to expect can save you a great deal of anxietyand lost assets.

Understanding Copays and Deductibles

Insurance premiums in South Carolina and Virginia, as in the rest of the country continue to grow, but there are ways that you can minimize your expenditure. While it is very possible to reduce your monthly premiums it is imperative that you understand that there are trade-offs.

Two of the factors that determine the size of your premium are co-pays and deductibles.

A co-pay is the amount of money that you must lay out when you seek medical attention for a physician, for emergency room visits, or through the purchase of prescriptions. These are generally fixed numeric amounts rather than percentages.

A deductible refers to the amount of money for which you are responsible before the insurance company is payments kick in. These are generally expressed in terms of percentages. The higher your deductible to lower your premium. In other words the more responsibility you are willing to shoulder up front will determine your monthly costs.

With rising insurance costs, many people are willing to carry the smaller costs of larger co-pays and greater deductibles, knowing that should they incur large medical bills they would be fundamentally covered.

For each individual the needs are unique and so the choices will vary. Our  insurance agents can help you to assess your needs and determine a proper balance between costs and coverage, thus creating a plan perfectly fitted for your needs and budget.

Call : 843-297-8162 for a free quote and consultation.