What Happens If You Cannot Afford Your Employer’s Health Insurance Plan?

So, you got a job with health insurance options. Great! But, what happens if you later find out that you can’t afford the payments? Here’s what to do if you can’t afford the company health insurance…

If you feel like your employer health insurance is too expensive, it could be because premiums and deductibles for group health insurance policies are on the rise.

Here is some data from Health E Deals that further explains why health insurance is so expensive: “Over the past year, on average, worker wages increased 2.6% and inflation increased 2.5%. However, the average health insurance annual deductible for covered workers has increased 53% over the past 5 years, leaving a lot of people wondering how to afford their employer’s high deductible health plan.”

If your employer health insurance coverage is too expensive and you can’t afford it, here are some options for you:

1. Find a health insurance broker that can find a plan to match your budget. There are health benefits available to help with out-of-pocket medical expenses, including what you pay toward your major medical policy deductible as well as your coinsurance and co-payment responsibilities. Medical gap policies are a type of supplemental health insurance that pays a lump-sum benefit when you have a covered accident or critical illness. You can choose from different coverage levels to accommodate your budget. Plus, they are available any time of year—not just during open enrollment.

2. Consider add-ons to health insurance, to bring the extra costs down.
Prescription drugs and visits to the doctor’s office can result in both expected and unexpected out-of-pocket medical expenses throughout the year. There are supplemental non-insurance products that can help reduce the amount you pay. Prescription drug discount cards provide discounts on prescription drugs, both generic and brand name. Thousands of pharmacies accept them nationwide. You present the card when you pay for your prescription, and the associated discount is applied.

3. Use a Tele-Medicine Option, or Doctor On Call (Face-time a doctor)
Tele-medicine provides 24/7 access to board-certified physicians for a few dollars per visit. This service is useful for diagnosis and treatment of non-critical conditions such as urinary tract infections, ear infections, allergies, cold and flu—the physician can even prescribe medications, if needed. These virtual visits are available to you wherever you are, just call.

4. Consider a Health Savings Account (HSA)
A health savings account (HSA) allows you to save money and use it later to pay for qualified medical expenses. HSA funds carry over from year to year, and some earn interest. You can even save the funds and use them when you retire.

You can only enroll in an HSA if you have an HSA-compatible high-deductible health insurance plan. The deductible alone is not an indicator of an HSA-compatible HDHP, rather the plan will be marketed as “HSA-compatible”. If you’re not sure if your health insurance is HSA-compatible, you’ll want to contact your health insurance company to find out what type of policy you have.

With the cost of health insurance and medical expenses rising, you may be looking for ways to make healthcare more affordable in 2019. Gap insurance, add-ons to health insurance, and health savings accounts can be helpful ways to manage your out-of-pocket healthcare costs—you can choose one of these solutions or a combination.
Find a local agent to help you find the right products.

Call us to speak to Amy Kelley, The Insurance Nana, now.

You Have More Options in the Wellstar and Anthem (Blue Cross Blue Shield) Break-Up

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As a small business owner, you are often on the receiving end of bad news.

Supply costs increase and you have to pay it.

A service is eliminated and you scramble to replace it.

Insurance companies wake up with a new idea – and you just have to swallow it.

You started your business to have more control, but now it seems you have less.

Is this life?

This is exactly what thousands of area residents with independent health insurance have been asking themselves. Ever since the contract between Wellstar Healthcare Network and Anthem expired earlier this year these residents are wondering what to do next. In this article, we will talk about the options you have if the Wellstar/Anthem break up has affected you or someone you know!

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Your Guide to What’s New in Healthcare for 2019


It’s time! Although there was speculation as to whether the Affordable Care Act (ACA) would make it through to 2019, it looks like it’s hanging on for at least one more year.

This means it is time once again for another rundown of “what’s new, what’s the same, and what has changed” in the world of health insurance.

There’s a couple of changes I’m really excited about this time around, so let’s take a look. Read more

Why 2018 is a Good Year to Enroll in a Medicare Supplement Plan  


It happens just like clockwork. You turn 50 and invitations start rolling in for you to join AARP and AMAC because you’ve hit that golden milestone. It seems like it was just yesterday you were turning 20 and wondering what you were going to do with your life.

Time rocks on though and right before you turn 65, your mailbox starts filling up again. This time it is with reminders that you need to select your Medicare plan and the type of medical benefits that you want. Read more

Healthcare Checkup: 3 Things You Should Plan for Now

It may officially still show summer on the calendar, but with the kids back in school and Halloween items showing up on the shelves in local stores, you can tell that fall is just around the corner.

This not only means you’ll soon see pumpkin spice everything – it also means that Open Enrollment for 2019 is approaching fast. This year it begins on November 1, 2018, and ends a short six weeks later on December 15.

While it’s not quite time to pick out your new healthcare plan, there are some other things you should be doing now to get ready. Read more