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Know the Difference

Employee Insurance

Employer health insurance, part of employee benefits, covers medical costs like doctor visits and prescriptions, provided by the employer for staff well-being.

Advantage: Lower cost with employer covering 70%-90% of monthly premium.

Disadvantage: Adding family members and dependents can be costly.

Affordable Care Act (ACA)

Public marketplace insurance, often called Obamacare or Bidencare allows individuals to buy plans on the Health Insurance Marketplace. These plans, provided by private insurers, adhere to government standards and may qualify for income-based subsidies.

Advantage: Suitable for low-income and those with chronic illnesses; everyone is accepted.

 

Disadvantage: High deductibles, out-of-pocket maximums, and higher rates due to High-Risk Pool; Limited EPO/HMO networks.

Private insurance

Private underwritten insurance mandates a medical underwriting process, assessing health history and status. Pre-existing conditions may lead to exclusions or higher premiums based on health risks.

 

Advantage: Low deductible, affordable rates due to Low Risk Pool (Fewer claims).

Disadvantage : Not universal acceptance, potential approval delays.

Supplemental Insurance

Hospital indemnity insurance offers a fixed daily payout during hospitalization, complementing major medical coverage by filling potential expense gaps from illness or injury.

Advantage: Affordable premiums with no deductible. 

Disadvantage: NO Max out of pocket (Catastrophic coverage)

Speak with an Agent today!

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