Major Medical Solutions for Individuals & Families
Looking for major medical insurance for you, your spouse or your family? You have come to the right place. With Stewartıs Insurance Depot you can receive a free quote that compares a variety of insurance companies and plans they offer so you can find the right plan that fits your medical needs and your budget. Below is a better explanation of the types of plans we can offer to you, what they are and how they can work for you. Be aware that not all carriers or plan types are offered in every state. By filling out our free quote you can compare the plans offered specifically in your state.
What plan is right for me?
When it comes to shopping for a new health insurance plan, you want to make sure you find the right one to fit both your budget and your medical needs. You also need to have a full understanding of the type of plan, how it works, and what is covered. Take a look at the chart* below to become more familiar with the types of plans are available to you. Below the chart is a list of some key terms and their definitions that you will find useful as you browse through the list of providers and plans available to you on your free health quote form.
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|
Copay Plans |
100% After Deductible Plans |
Health Savings Account Plans |
Short Term Medical Plans |
|
Designed for people who want: |
Copay similar to what youıd get with an employerıs plan |
In-network services covered 100% after the deductible is met |
A lower cost plan & the ability to put tax-free money in a HSA. (*tax deductibility varies by state- contact your local tax advisor) |
Affordable coverage for no more than 12 months. |
|
Preventive care |
Covered in full for in-network preventive care services |
Covered in full for in-network preventive care services |
Covered in full for in-network preventive care services |
Not Covered (unless mandated by the state) |
|
Prescription drug coverage |
Included |
Available on selected plans |
Available on selected plans |
Included |
|
What you need to know |
These plans have a higher benefit level, but the premiums are typically higher |
These plans have the widest choice of deductible amount options |
There are limits on how much you can put in your HSA every year (see below for more info) |
These plans are not renewable and do not cover pre-existing conditions |
Ready to get your free quote today and compare a variety of insurance companies and plans?
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Key Terms & Definitions
Coinsurance- The way of cost sharing between you and your insurance provider. According to your plan, the insurance company agrees to pay a certain percentage of your medical bill once you have paid your deductible. This is typically noted as 100/0 (insurance pays 100%, you pay 0%), 80/20 (insurance pays 80%, you pay 20%) or 70/30 (insurance pays 70%, you pay 30%).
Copay- What you pay when you visit a doctor (and or fill a prescription) to share the cost of your healthcare. (Ex: $25 copay to see a doctor, $5 copay for prescription).
Deductible- A set amount of money that you must pay out-of-pocket each year before coinsurance begins and the insurance company starts to share the costs of your medical bills. Deductibles can range from $500-$10,000.
Health Savings Account (HSA)- Like a personal savings account, but the money in your HSA can only be used for out-of-pocket health care expenses, tax-free. You (not the insurance company) own and control the money in your HSA. At the end of the year, any un-used funds can be rolled-over to the next year. There are limits to the amount of contributions you can make in a physical year to reduce your taxes and state saving:
|
2012 |
Minimum Deductible |
Maximum Out-of-Pocket |
|
Contribution Limit |
55+ Contribution |
|
Single |
$1,200 |
$6,050 |
|
$3,100 |
$1,000 |
|
Family |
$2,400 |
$12,100 |
|
$6,250 |
$1,000 |
For more detailed information on changes in HSA law, visit the U.S Department of Treasury website or talk with your tax adviser.
Out-of-Pocket Maximum- The largest amount of money you will be responsible for during 1 calendar year.
Preferred Provider Organization (PPO)- A network of medical care providers (i.e. physicians, specialists, and hospitals) who have agreed to provide their services at a negotiated discount to the specific insurance companiesı clients. This enables you to save in two ways: 1) pay lower premiums and 2) pay lower percentage of the costs when you use network providers.
Premium- What you pay monthly (or annually) to keep your insurance policy active. Factors of determining premium amounts include your age, sex, weight, height and if you are a smoker or non-smoker.
Preventive Care- Specified wellness and health promotion services that are part of the benefits package of an insurance policy.
Point of Service (POS)- Built in option to specific healthcare plan that allows the consumer to decide to use a doctor, hospital or other healthcare service that falls outside the recognized network (which typically means paying a greater percentage or copay for services from an out-of-network provider).
*Disclaimer: These plans are subject to individual state department of insurance regulation, deductibles, co-insurances and specific copays and benefits.