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Group Health Insurance
Medical care costs in the Pittsburgh, PA area are at an all time high and there is no indication that they will decline. Self-employed individuals and people who do not have health coverage available through their employers do have affordable health insurance options.
Individual health policies cover the same types of expenses that group health policies cover.
These are typically:
Health insurance companies look at many different factors when considering rates and accepting insureds for coverage. Typical underwriting factors such as the individual's:
Other factors affecting the cost of coverage are the size of deductible and the "co-pay" percentage. The deductible is typically an annual amount that the insured is responsible for before the insurance policy begins contributing to the payment of a claim. The deductible may apply to an individual or to family members as a whole. A higher annual deductible the lower the insurance premium will be.
The "co-pay" percentage is the amount the insured is willing to pay out of pocket for each bill. Usually an insured's "co-pay" percentage will be 10 or 20 percent. The higher the percentage the insured is willing to assume the lower the policy premium.
When comparing health insurance quotes, usually a cheap health insurance premium will result in the insured assuming more of the actual medical expense.
A major factor in determining premium cost and also affecting coverage for an insured is whether the policy is an HMO or PPO type coverage. The flexibility of a PPO plan will result in a slightly higher premium than an HMO.
An HMO plan requires the insured to select a primary care physician from the HMO's list of approved physicians. The primary care physician oversees the insured's treatment and determines if a specialist is needed. A "co-pay" paid by the insured is due at the time of the office visit, hospitalization or the time treatment was provided.
A PPO plan allows the insured to pick a provider that is outside the network of suggested providers. The insured pays a slightly higher "co-pay" percentage to see a provider not on the plan's list. The insured can also decide to see a specialist without a referral from the primary care physician.
For the small business owner, or the self employed individual, there are certain benefits that help make health insurance affordable. Small business health insurance premiums paid by the employer are fully tax deductible. This can result in substantial cost savings. Small group health coverage provides similar types of discounts for services rendered by providers that regular group coverage provides.
There is another benefit that helps to lower the overall healthcare premium for owners and employees alike. Healthcare Savings Accounts have the effect of lowering the cost by the participant putting pre-tax dollars into an account to pay for healthcare deductibles and "co-payments".
Self employed health policy buyers share many of the tax benefits that small group insurance buyers have available to them. When shopping for small group health insurance or self employed health insurance plans, the health insurance experts at Driscoll Insurance and Financial Services can provide professionally recognized and accredited assistance in explaining the types of plans, costs and tax implications to the business owner or self employed health insurance buyer.
Personal Insurance
• Personal Auto Insurance
• Homeowners Insurance
• Umbrella Insurance
• Mine Subsidence Insurance
• Life Insurance
• Hunting Liability Insurance
• Land (ie. Vacant Land Insurance)
• Marcellus and Natural Gas Insurance
• Personal Health Insurance
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