Money Saving Tips

Summary of Questions

Are You Spending Too Much on Your Health Insurance Bill?

Ask yourself these questions:

1. Are you in a Group Plan or an Individual Plan?
2. How much is the company paying for your Group Plan?
3. Do you want Maternity Benefits?
4. Do you have Health Problems?
5. How many children are covered in a Family Plan?
6. Can you raise your deductible?
7. Have you considered an HSA?
8. Are you paying for COBRA?
9. Are you between jobs and just need Short Term
10. Are you eligible for Medicare?
Save Money with the Generic Equivalent of Name Brand Drugs.

1. Are you in a Group Plan or an Individual Plan?

Return to Faq

2. How much is the company paying for your Group Plan?

Find out how much your employer pays for your dependents' coverage and then get a free rate quote to find out if you can save. Often you can get an individual policy for the wife, husband, or children for less then it would cost to add them on to the company policy.

Return to Faq

3. Do you want Maternity Benefits?

One advantage of several medical insurance plans is that you can choose whether or not you want Maternity Benefits. Group benefits typically include maternity automatically in the premium. If you are not interested in Maternity Benefits, we may be able to save you money on an individual health insurance plans.

Return to Faq

4. Do you have Health Problems?

If you have some health problems, usually a group plan is best. While everyone qualifies for some individual Health Insurance plans in in North Carolina, the premium may be unreasonable if you are taking several medications. A Group Plan might be better and less expensive.

Return to Faq

5. How Many children are covered on your family plan?

Many times company policies will set one rate to add children onto an employer's plan. That rate will be the same if you only have one child or if you have ten children. Sometimes if you only have one child, you can save money even with the most expensive individual plan.

Return to Faq

6. Can you raise your deductible?

If you are on an individual plan and you think you may be paying too much for insurance, check our Rate Quote sheet. If you raise your hospitalization deductible, your monthly premiums will decrease. With the you still get a copayment for doctors visits and prescription drugs. It is not unusual for someone to have a $5,000 or even a $10,000 deductible.

Return to Faq

7. Have you considered an HSA?

If you are interested in a high deductible you might want to consider an HSA (Health Savings Account). You can only open a Health Savings Account in conjunction with an approved High Deductible Health Plan (HDHP). While the does not qualify for the HDHP, we do represent other Health Insurance Carriers that do offer individual High Deductible Health Plans (HDHP) so that you could open a Health Savings Account (HSA). The premiums are typically less than a plan with copayments.

You can put money into your savings account tax free. People who might benefit from this plan are people who use an IRA for tax advantaged growth. With a Health Savings Account your qualified medical expenses will be tax free. You get to keep any money left in your HSA that you don't use. Call us for more information on setting up a new Health Savings Account.

Return to Faq

8. Are you paying for COBRA?

If you are between jobs, you may be enrolled in COBRA. COBRA is essentially the same health insurance plan you had at your previous employer, the main difference is that you have to pay the premiums yourself. If you have some health issues, COBRA may be your best option. But if you are healthy, it is not uncommon to be able to save $500 / month on a individual health or family insurance plan. If you have any questions about COBRA feel free to read our COBRA Frequently Asked Questions.

Return to Faq

9. Are you between Jobs and just need Short Term?

If you know you will be getting health insurance, but need coverage until your new plan starts, a short term health insurance plan would be your most affordable option. We have plans that will cover you for as little as one month, or as long as six months. The premiums are less, but they don't typically have copayments. Short Term Health Insurance plans are major medical insurance plans which will prevent a financial hardship in the event that medical assistance is necessary. They typically cost less, but they are non-renewable or dependent of your health to re-apply.

Return to Faq

10. Are you Eligible for Medicare?

If you are eligible for Medicare, Welcome to the Club! Finally you have great coverage at an affordable rate. No more copays, no deductible ( With the right Medicare Supplement) and you get to charge what ever doctor or hospital you want. The only problem with Medicare is the prescription drug coverage. Part D ( Coming in January 2006 ) should solve some of the prescription drug issues. Come back for important up-to-date information on Medicare, Medicare Supplements, and the new Part D program.

Return to Faq