Understanding Health Insurance Toolkit
UPDATE. Traditionally, Americans received coverage for Health Care through Employee Benefits which do continue all year. The entire purpose of companies offering Health Care Benefits to their employees is to engender LOYALTY.
Gone are the days when people worked for the same company for 50 years & retired with a gold watch.
Increasingly in a mobile society, people work at place after place & companies are hiring more & more 1099 Contractors rather than traditional W-2 employees.
Even companies & small business owners who do hire W-2s are looking for ways to minimize costs by offering fewer benefits with less coverage.
I have several friends & family members (including my Ex) that fit this category who are against Obamacare for this reason: I can talk for days until I'm blue in the face on how each type of insurance differs & the need for supplementation if they offer a High Deductible Plan to keep costs down.
I have had people tell me "I lost my Employee Benefits because of Obamacare."
No, they lost their Insurance because the Business Owner doesn't understand the principle of SUPPLEMENTATION.
Additionally, ObamaCARE has little or nothing to do with Employee Benefits.
If anything, it only enhances coverage by providing for additional preventative health services.
It is the Coverage of Last Resort for 1099 Individuals like myself.
When a company offers a High Deductible Plan, some as high as $10,000 WITHOUT SUPPLEMENTS, you will pay your monthly premium but see no coverage until the first $10,000 is paid out of your pocket. It will feel like, "Well - I've got this insurance but it doesn't pay for anything."
This is where "Consumer Driven Benefits" (CDB) come in to play.
Based on Section 125 of the IRS Tax Code, Employers & Employees alike benefit from Tax Savings buying Qualified Health Insurance through Payroll Deductions at work.
While the principle behind these supplements are essentially the same: providing for gaps in coverage for Out of Pocket Expenses, like Co-pays & Coinsurance, the delivery of these benefits differ from Medicare Supplements in that these supplements are Indemnity Plans: they pay cash benefits direct to the employee - where as most Medicare Supplements employ an Assignment of Benefits. (Providers receive payment directly from the Insurance Company.)
I may get around to finishing these Health Insurance Toolkit Pages for 2019. They have pretty much sat here unfinished all year this year as I have yet to make a dime from this website: it's pretty much been an expensive hobby for me.
I did, however manage to scrape together funding for another year. Stay tuned.
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UPDATE These pages are still under construction due to my grassroots efforts in the Mid-term Elections to put my money (or lack there of) where my mouth is. I am serious when I say #RepealTedCruz #ReplaceJohnyCornyn #ImpeachDonaldTrump & that #AmericaLetHillaryClintonDown
The NIGHTMARE in Washington affects me both professionally & personally and I could not be more furious.
Related Posts
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Introducing my Understanding Health Insurance Tool kit on Revolving Door HR. With Open Enrollment already underway for Employee Benefits & soon to start for ACA & Medicare, I have agreed to do an Education page/pages for the various types of coverage & how you can make the best choice for what you are offered.
The entire reason for starting this page was to get out of insurance, but 11 years after the fact, it keeps pulling me back in.
I will open each section with links to blog posts I've already written, then do an actual page per topic "in my free time." As this page is not yet profitable for me, I've had to take a "day job" in Advertising which I went to school for. (so if it seems the pages are a bit slow being built it's due to the fact I gotta try to make a dollar at my day job.)
Interesting side note on the subject of Employee Benefit COMMUNICATIONS, Speech, & Verbal /VS/ Non-verbal Communication, starting with a question:
When does Non-verbal Communication take precedence over the words coming out of your mouth?
This is WHY it's important to learn to Communicate with Emotional Intelligence when we interact with others.
As a Licensed Agent, I can walk into a room dressed in a "non-verbally appropriate manner" speaking with compassion & there is always that one person sitting there DRINKING - sending out Non-verbal signals about their "stinking DRINK" & it must somehow be that WOMAN'S fault that THEY GOT THIRSTY.
People have learned how to communicate in this manner & they can UN-learn how to do it too.
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