Faith A. Bratlie – Insurance Broker

Health Insurance

(As of 2019, about 92 percent of people in the U.S. had some form of health insurance. However, when life changes unexpectedly, you may need to modify your health insurance plan to ensure it suits your needs and circumstances. The good news is that you do not have to wait for the Open Enrollment Period to make changes to your health plan. So what are some qualifying life events for health insurance change?

Here’s what to know.

Fixed Benefits

A fixed benefit plan or an indemnity plan can come in many different shapes and sizes. Most carriers will offer a fixed benefit or indemnity plan for individuals, groups, or seniors. They can be used to supplement a full coverage health plan and usually provide the utmost protection for your out-of-pocket costs if an accident or illness happens. These plans should not be mistaken as major medical or full coverage health insurance because of the limitations that they bring.

They are a great addition as long as they are explained correctly, but oftentimes they are not and that’s why you may hear people speak negatively about them.

Below is a link of just some examples of plans and prices depending on the demographics of the individual, group, or family.
https://www.quotit.net/eproIFP/webPages/infoEntry/infoEntry.asp?insuranceTypeID=E&license_no=SCXFR4

Health Savings Accounts (HSA)

 

Health Sharing Plans / Christian Sharing Programs

Health Sharing is groups that share biblical tenses. They are not insurance and have no guarantees or financial backing to be health insurance. They are typically guaranteed issues and cost less than traditional health insurance. You can even find many that qualify for the minimal essential coverage and prevent you from incurring a penalty when the penalty was still in force.

There have been many lawsuits and sharing plans that have gone bankrupt or have had class-action suits against them. Faith Insurance solutions are very reluctant to represent any of the health sharing plans for this reason but have one that we have represented as long as the client knows all of the risks involved. Below is a link that will take you to more information on that company. It is available in all 50 states.