816-400-4477William Raveis Health Insurance
Health Insurance For Real Estate Agents – Your One Stop Solution
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A Guide to William Raveis Health Insurance
Our agents possess an extensive understanding of the distinct challenges faced within the real estate industry. We are well aware of the significant fluctuations in income that result from commission payment timing on a monthly basis. Additionally, we comprehend the obstacles associated with running your own business and the various expenses that can impact your available income. We also recognize the demanding nature of working long hours during nights and weekends.
At Apollo, we have actively listened to and built relationships with numerous realtors. We firmly believe that we can assist you in navigating a range of products tailored specifically to address the unique demands of a realtor’s professional life. It is crucial to engage with someone who truly understands your world and has developed solutions customized to your specific needs. As you have invested considerable time and effort in excelling in your field, we encourage you to explore the exclusive options provided by William Raveis Health Insurance, designed specifically for professionals like yourself.
Health Insurance For Real Estate Agents: Options Available
Association Group Insurance Plans
To find dependable health insurance, it is advisable to compare options and seek advice from individuals who have already explored different plans. If you are a member of the Realtor Association, they may have a health insurance plan specifically tailored for you. This can save you time, as associations often provide coverage through group policies, including dental benefits. However, it is important to ensure that these plans align with your personal needs before enrolling.
Brokerage Group Health Insurance
When employed by a real estate agency, there is a possibility that they offer group health insurance for their employees. If this is the case, it is recommended to inquire about the available plans. Typically, new employees have a limited window of 2-4 weeks from their date of employment to enroll. Additionally, there is usually an annual enrollment period for the group plan.
The benefits offered by the group health plan can vary depending on individual needs. Most plans cover medical care, prescription drugs, and routine dental and/or vision care. However, it is important to note that some plans may have a high deductible or exclude certain services like wellness check-ups and cancer screenings. Consider your personal healthcare requirements when evaluating whether the realtor health insurance provided by the agency is suitable for you.
Affordable Care Act (ACA) Plans
The ACA, commonly referred to as Obamacare or the Marketplace, is the prevailing legislation in the United States. It mandates that all health insurance plans must offer Minimum Essential Coverage and provides subsidies to families with a household income below 300% of the Federal Poverty Level.
Short Term Plans
Short-term health plans serve as a valuable safety net for individuals who are in a temporary job transition or have relocated to a new area. While these plans offer less extensive coverage compared to long-term health plans, they can be a suitable choice for those without insurance or who are ineligible for other types of coverage. Typically lasting for a few months, short-term health plans are ideal for individuals who require coverage for a shorter duration.
Health Sharing Plans
Health Sharing Plans are typically religious and not-for-profit organizations that offer healthcare benefits which may not meet the requirements of Minimum Essential Coverage (MEC). These plans often have waiting periods for pre-existing conditions. While Health Sharing Plans are not legally considered insurance, they do provide similar benefits and coverage options.
Basics of Health Insurance
Individual health insurance plans all fall into one of these 4 networks listed below:
Health Maintenance Organizations (HMOs)
HMOs are healthcare organizations that offer a network of doctors, specialists, and medical professionals to address your medical requirements. With an HMO, you must select a primary care physician who will oversee most of your healthcare needs. When you need to consult a specialist, your primary care physician will provide a referral to a specialist within the network.
Exclusive Provider Organizations (EPOs)
If you seek a healthcare plan with a robust network of doctors and specialists, consider an Exclusive Provider Organization (EPO). EPOs provide coverage for medical services exclusively from in-network providers, which means that seeing an out-of-network doctor or specialist may not be covered. One advantage of EPOs is that they often do not mandate having a primary care physician, and referrals are not required to see a specialist.
Preferred Provider Organizations (PPOs)
PPOs are health insurance plans with a broader care network compared to EPOs or HMOs. They usually have higher premiums to account for this expanded coverage. Similar to EPOs, PPOs do not necessitate a primary care provider or referrals to see a specialist. Additionally, PPOs allow you to visit out-of-network specialists, although it may come at a higher cost. For a detailed comparison between HMOs and PPOs, click here.
Point-of-Service Plans (POS)
The POS plan offers a lower premium option for individuals seeking healthcare coverage, although it has a more limited care network compared to a PPO. In a POS plan, you must select a primary care physician and obtain a referral from them to consult a specialist. It’s important to note that seeing an out-of-network specialist under a POS plan would result in higher costs.
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
Health insurance offers numerous advantages. Primarily, it provides financial protection in case of accidents or illnesses. Without insurance, you would be liable for paying all medical expenses out of your own pocket, which can quickly become costly. Additionally, health insurance assists in covering the expenses of preventive care, including regular check-ups and screenings. This proactive approach aids in identifying health issues early on, when they are more manageable. Lastly, health insurance provides peace of mind, knowing that you and your loved ones 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.