Life And Health Choices

Do you have a health insurance plan? Good to know should something happen to you, or your spouse, or a dependent, that their medical needs will be taken care of. The cost of procedures, tests, treatments, hospital and doctor costs are all taken care of. Right? Do you know what your plan's deductibles are?  Co-pays ?   What is the plan's maximum out-of-pocket costs ? How much of the total cost would you be on the hook for? The most you have to pay for covered services in a plan year is the amount paid on deductibles, copayments, and coinsurance. Your health insurance plan pays 100% of the costs of covered benefits. The out-of-pocket limit doesn't include your monthly premiums. It also doesn't include anything you spend for services your plan doesn't cover. For the 2020 Obamacare plan year ,  t he out-of-pocket limit for a Marketplace plan is   $8,200   for an individual plan and   $16,400   for a family plan. Private plans, includi...

Leaving A Job Means Needing New Health Insurance. Frank is an industrial engineer with a local firm and has more than 20 years experience and 6 years at his present employer. He has a wife who works part-time and a teenage daughter. His company was recently purchased by an international firm and everyone knew there would be cost-cutting measures. Frank was one who did get cut and what he knew was also going to happen was the loss of his  health insurance . Frank made a decision to not look for new employment. Instead, he decided to go into business for himself as a consultant. He also knew he had to evaluate  self-employed health plan  options. Frank didn't have any major health issues. He did go to a doctor for routine exams every year and he had hypertension which had been treated and was under control. Even with Frank, his wife, and daughter all being in above average health, he feared his options would all be expensive and have  high deductibles . So what ...