• Can we get personal?

    The Insurance Lady - GA

Do you have a family? A house? A job?
What happens if something happens to you?

I’d like to say there is an “app” for that but instead I’ll say there is insurance for that. If you think homeowners insurance is important, life insurance is just as important. Death benefits to survivors provides security.

Life Insurance

Provides financial security to your beneficiaries upon death. Term, Permanent, Whole, Universal, Variable.  There are variations within these.

Disability Insurance

Can be short term or long term.  Provides income when you are unable to work

Dental & Vision Plans

These plans are available for individuals and families.

Supplemental Plans

Such as critical illness or accident plans provide extra funds that can be used toward expenses.  Does not take the place of major medical, fully insured health plans.

Know the difference between plans.

Fully Insured Medical Plans

Highest level of coverage.  That’s why it’s priced higher.  ACA compliant.  Limits:  can only enroll during open enrollment or with a qualifying life event.  Highest level of coverage.  In Georgia the only fully insured plan choices are Kaiser, Ambetter, and BlueCross/Blue Shield (in specific counties)

Short Term Medical Coverage

Good for healthy people because pre-existing conditions are not covered.  Catastrophes eliminated.  UHC has a $2 million life time benefit.  Rates are really low.  You can choose the deductible you want.  Coverage in every zip code United Health Care.  Uses Choice Plus network.  Three month limit by law until Health & Human Services changes that restriction.  Good coverage, time limits.  Must keep renewing.

Supplement/Indemnity Plans (like Aflac)

These plans pay you money for services.  It sounds good, but you still must pay the entire bill and get reimbursed a dollar amount.  Example:   If you get $500 for a hospital stay, that’s good.  But the actual cost could be $1500/day. In which case you are obligated for $1000.  This money defrays costs rather that covers you in full.

Health Sharing

Not insurance but it has the same chassis as traditional insurance.  Pre-existing conditions typically have a waiting period for hospitalization.  Check the network used.   Routine doctor visits and emergency services are usually covered.   Enrolling is easy.  These plans may be ACA exempt and can be purchased anytime throughout the year.  Costs more than short term but less than fully insured.  Meets 90% of the needs for 85% of the population.  Know what you are paying for and how a claim would be paid.

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