816-400-4477Compass Real Estate Health Insurance
Health Insurance For Real Estate Agents – Your One Stop Solution
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A Guide to Compass Real Estate Health Insurance
Our agents possess a deep comprehension of the distinct challenges faced within the real estate industry. We acknowledge the significant fluctuations in income that occur on a monthly basis, often tied to the timing of commission payments. We are well aware of the obstacles that come with essentially running your own business and the various expenses that can impact your disposable income. We also understand the demanding nature of working long hours, including nights and weekends.
At Apollo, we have actively listened and fostered relationships with numerous realtors, enabling us to present a range of products tailored to meet the unique requirements of a realtor’s life. We encourage you to take the time to converse with someone who truly comprehends your world and has developed solutions specifically designed for you.
Health Insurance For Real Estate Agents: Options Available
Association Group Insurance Plans
To secure dependable health insurance, the most effective approach is to engage in thorough research and seek insights from individuals who have already explored various plans. If you are a member of the Realtor Association, there is a possibility that they provide a health insurance plan specifically tailored for you. This option can be advantageous in terms of time savings, as many associations offer group policies that encompass certain types of coverage like dental care. However, it is crucial to note that these plans might not always align perfectly with every individual’s requirements, so it is vital to ensure suitability before enrolling.
Brokerage Group Health Insurance
While employed at a real estate agency, it is possible that they offer group health insurance for their employees. If this is the case, it would be wise to investigate the available plans they provide. Typically, group health plans have a limited window of 2 to 4 weeks from the start of employment for new employees to enroll. Furthermore, there is an annual enrollment period when the group plan is made available.
The benefits offered by the group health plan can vary depending on your requirements. Most plans encompass medical care, coverage for prescription drugs, and regular dental and/or vision care. However, certain plans may have a high deductible or exclude wellness check-ups and cancer screenings. It is important to carefully consider your individual healthcare needs to determine whether the realtor health insurance offered by the agency suits your requirements.
Affordable Care Act (ACA) Plans
In the United States, the ACA, commonly referred to as Obamacare or the Marketplace, is the prevailing law. This legislation mandates that all health insurance plans must offer Minimum Essential Coverage. Additionally, it provides financial assistance in the form of subsidies to households with an income lower than 300% of the Federal Poverty Level.
Short Term Plans
For individuals experiencing temporary job transitions or residing in new and unfamiliar places, short-term health plans can serve as a valuable safety net. While these plans may offer less extensive coverage compared to long-term health plans, they can be an advantageous choice for those without insurance or ineligible for other coverage options. Typically spanning a few months, short-term health plans are well-suited for individuals seeking coverage for shorter durations.
Health Sharing Plans
These organizations are non-profit and often have religious affiliations. They provide healthcare benefits that do not meet the Minimum Essential Coverage (MEC) criteria and may impose waiting periods for pre-existing conditions. While Health Sharing Plans are not officially referred to as insurance, they do offer similar benefits.
Basics of Health Insurance
Individual health insurance plans all fall into one of these 4 networks listed below:
Health Maintenance Organizations (HMOs)
HMOs are entities that offer a network comprising doctors, specialists, and other healthcare professionals, ensuring accessible medical services. With an HMO, selecting a primary care physician becomes a prerequisite for addressing the majority of your healthcare requirements. When a specialist consultation is necessary, your primary care physician will provide a referral to a specialist within the network.
Exclusive Provider Organizations (EPOs)
If you desire a healthcare plan that boasts an extensive network of doctors and specialists, an Exclusive Provider Organization (EPO) could be the ideal option. EPOs specifically offer coverage for medical services rendered by in-network providers exclusively, which means that seeing an out-of-network doctor or specialist may not be covered. Nonetheless, it is worth noting that many EPOs do not mandate the selection of a primary care physician, and none of them necessitate obtaining referrals for specialist consultations.
Preferred Provider Organizations (PPOs)
PPOs are health insurance plans that provide a broader network of care compared to EPOs or HMOs. Nevertheless, PPOs typically come with higher premiums, making them more expensive as a result. Similar to EPOs, PPOs do not mandate the need for a primary care provider and do not necessitate referrals for specialist visits. Additionally, PPOs allow for the option of seeing an out-of-network specialist, albeit at a higher expense. For a more detailed comparison between HMOs and PPOs, please click here.
Point-of-Service Plans (POS)
For individuals seeking a cost-effective alternative with a narrower care network compared to a PPO, the POS plan proves to be an excellent choice. It is mandatory to have a primary care physician under this plan, and obtaining their referral is necessary for specialist consultations. Nevertheless, opting to visit an out-of-network specialist would result in higher expenses.
Basic Health Insurance Definitions
Premium
A monthly payment you have to make to keep your insurance plan.
Deductible
The amount of money you have to pay on your own for your medical needs before your insurance will start assisting. This will be an annual amount.
Copay
A flat rate you pay per health service, like $10 per doctor’s visit or $5 per bottle of medication. Your insurance will cover the rest.
Co-insurance
A percentage you pay for the cost of each health service. For example, on a 10% coinsurance plan you would pay 10% of each doctor visit, medical procedure, etc. before your insurance covered the rest.
Maximum Out of Pocket
The most money a consumer can spend on out-of-pocket healthcare related expenses for the year. Once the maximum out of pocket is met, the remaining bills are paid 100% by the insurance company.
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Benefits of Health Insurance
Obtaining health insurance offers numerous advantages. Primarily, it serves as a financial safeguard in case of accidents or illnesses. Without health insurance, you would bear the entire burden of paying for medical expenses, which can rapidly accumulate and become costly. Furthermore, health insurance assists in covering the expenses associated with preventive care, including regular check-ups and screenings. This proactive approach aids in the early detection and management of health issues when they are most treatable. Ultimately, having health insurance instills a sense of assurance, providing peace of mind, as you and your family are safeguarded during health emergencies.
Frequently Asked Questions About Health Insurance
What's the best way to look for health insurance?
When shopping for health insurance, it is important to work with an agent or broker who can help you understand the many options available. Agents have access to all the plans on the market, and they can help you find the best one for your needs. With their help, you can avoid getting overwhelmed by the process and make sure you are getting the best coverage possible.
How do you find the right health insurance plan?
The first step is to figure out what’s important to you. Do you need a plan with a low monthly premium? Does your budget allow for a plan with a higher deductible? Are you looking for a PPO or EPO plan? Do you have any preexisting conditions that must be covered? Once you know what’s important to you, it’ll be easier to find the right health insurance plan.
How do I save money when dealing with insurance?
There are a few different ways that people can save money on their insurance premiums. One way is to purchase a plan that is not based on the individual’s income. These plans can be found on the private market, and they typically have lower premiums than the traditional group or ACA plans.
Another way to save money on insurance is to shop around for the best deals. Different insurers offer different rates, so it’s important to compare and contrast the different options available.
Finally, it’s also important to be aware of the subsidies that are available through the Affordable Care Act. Many people are eligible for subsidies, which can help reduce the cost of premiums.
Apollo Will Find the Right Plan for You
Apollo Insurance Group is a health insurance brokerage located in Lee’s Summit, Missouri and Chicago, Illinois. We have been around since 2010, and our mission is to positively impact people’s lives. We do this by fighting to find the best option for our clients, create relationships with our employees, and give back to our communities. Apollo also specializes in Medicare, life insurance, dental, and vision plans. We have agents that are experts on individual health insurance and are ready to help you find the right plan. Fill out our contact form to get in touch with an agent today.
Individual Health Insurance
Insurance can be complicated. Between the dozens of providers, changing laws, different kinds of insurance, and so many options, it's a challenge to navigate and find the right plan for your budget and needs.
That's where an insurance broker can help. Apollo are the experts in health insurance and will fight for you. There's no extra cost to you and you'll have an insurance person to always turn to.
Group Health Insurance
Do you want to provide an affordable insurance option for your employees?
Or maybe your employees are already insured but the cost has increases. It may be time to shop for a better group plan. Having health insurance through an employer is an additional way to acquire and keep talent. Connect with Apollo to find the best group insurance plan for you and your employees.
Life Insurance
Let's be honest, we often don't think about the extremes of what could happen in life. Life insurance is the least purchased kind of insurance even though plans start at only a few dollars a month. If you want to make sure your family is taken care of, this simple insurance can have a huge effect in case of death.
Dental Insurance
A good smile can be worth a million dollars.
Everyone can benefit to good oral care and the cost of emergencies can be quite large. Luckily there are flexible dental insurance plans for everyone. Contact us to get a dental plan that works for your budget.
Vision Insurance
Our eyes are one of our most precious organs, and we only have two, so proactive protection and care is key to maintaining these vital organs! Particularly for children, they don’t yet know how beautiful the world is through perfect vision, it is our responsibility as parents and caretakers to be in-tune with the world through their eyes. On the flip side, as we age our eyes do as well, and thus the frequency for vision checks increases exponentially.
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