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What is a group insurance plan?
Group insurance is typically offered at your job. It is a group of people paying considerably lower insurance premiums to the insurance company. Sometimes the lower premiums only apply to the employees, when you add on family members it can be expensive, depending on the size of the "group." Some employers will pay all of or a portion of the employee's premium, making it affordable to add on family members. Most of the time you will need to sign up for the insurance during an "open enrollement "period. In most cases, if you miss the open enrollment period you can't get the insurance until the next open enrollment period.
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Is pregnancy considered a preexisting condition if you move from a group insurance plan with a Mexican insurer to an American small business group insurance plan?
\n. \n Answer \n. \nCA AB 1672 aka Insurance Code 10700 et seq\n. \n- see the term ELSEWHERE below\n. \n(r) "Creditable coverage" means:\n(1) Any individual or group… policy, contract, or program, that is written or administered by a disability insurer, health care service plan, fraternal benefits society, self-insured employer plan, or any other entity, in this state or elsewhere, and that arranges or provides medical, hospital, and surgical coverage not designed to\nsupplement other private or governmental plans.
Medicare is only secondary to your group coverage if you work for a company with 20 or more employees (could be a combination of part-time and full-time, based on total number… of hours per year) and you worked 20 weeks or more, in the current or preceding year. They do not have to be consecutive weeks. If you work less than 20 weeks or your employer employs less than 20 employees, or both, your medicare coverage is your primary insurance coverage. Primary status of group benefits takes place as soon as the employment and work week criteria are met. It will be primary for at least the rest of the current calendar year and all of the following year. Primary status for medicare takes place on January 1st of the following year after an employer employs less than 20 employees or you work less than 20 weeks in that year. Medicare remains primary until employment or work week criteria meet levels to make group benefits primary.
Usually, life insurance proceeds are free from federal taxes. If the beneficiary is an individual person/persons, the proceeds of a life isnurance policy are tax-fr…ee. If the beneficiary of a life insurance policy is the "Estate" of the insured person, the proceeds may be subject to estate taxes.
If you change employers but move from a PERS group plan to another similar group plan police department to police department can you get denied for insurance?
I assume your talking about California Calpers? Most likely you will still be able to get insurance through your new agency.
That is tough to answer. It really depends upon if you are talking about and HMO, PPO, or HSA (HDHP) style of plan and where you are located. The most common deductible …in the northwest, where I am, is 250-500 and the most common plan types are PPO and HMO. Movement over the past few years has been toward 500 and $1000 is starting to gain tracktion.
This question does not make sense. Are you asking about "key man insurance?"
In California small group plans are guaranteed issue, which means you would not be denied. The HR person of his prospective employer would be able to tell you if they have a g…uaranteed issue plan. California has the Major Risk program too. If you live in another state, you can check their insurance programs online.
Can payment of medical benefits be coordinated between an individual medical insurance plan and a group medical insurance plan covering the same person?
Its possible but unlikely. If one policy is direct pay then both should pay as prime and essentially ignore one another. Clarification: It would be considered insurance fraud …to not notify each insurance company of your coverage with the other. Otherwise, you would actually be making a profit from both insurers paying the full amount they would pay if you only had coverage with one company, which is illegal and would result in serious consequences. When a person is covered under two medical insurance policies, one is considered the primary insurer, while the other is considered the secondary insurer. Typically, the primary insurance policy will pay their percentage, then the secondary will pay the balance. But you still have to meet your deductibles for both insurers, as well as paying your co-pay amount. You need to contact both insurance companies to determine which one is your primary coverage, which will be determined by several factors, depending on your status, such as married, dependent, etc.
The group insurance plans are ususally NOT portable, which means you can't take them with you if you change jobs. Most group plans do not require proof of medical insurability…, while majority of individual plan will require some underwriting.
Does an employee with existing group health insurance have to enroll into Medicare at age 65 buy a supplemental plan then drop the group health insurance?
You have a choice to stay in your employer's plan or join Medicare. When you do stop working and lose your group health plan, make sure you enroll in Medicare within 8 months.… You could also enroll in Medicare Part A (hospital coverage), and postpone enrolling in Part B (physician coverage) until you are done with your group health plan. Part A does not cost you a monthly premium. You would be over-insured, but the Part A benefit is available to you at age 65, whether you have other coverage or not.
Why have many insurers replaced retrospective health insurance plans with group plans such as HMOs and PPOs?
It helps keep the cost down for insurers as well as individuals.
There are a few options: 1. Through a licensed health insurance agent, apply for an individual health policy. These are medically underwritten, meaning that your medical hi…story is taken into account in determining whether or not to issue a policy and the premium that is charged. They tend to be more costly than group policies. This is because the insurer does not have the benefit of "the law of large numbers", meaning that the insurer cannot spread the risk of losses over the entire group. 2. You can join a managed care entity, such as a health maintenance organization (HMO). Often, HMOs are seen as providing a lesser quality of care. However, many are very good. A misunderstanding arises because the care delivery model is different from what is customarily viewed as health insurance. Instead, a member's care is managed by a primary care physician who provides day to day care, with an emphasis on preventative care. A referral is usually needed from the primary care physician to see a specialist. It is critical, whether you are considering #1 or #2 above, that you deal only with a licensed entity. Both kinds of entities are regulated by state insurance departments in the states in which they operate. The regulation pertains to financial stability, premiums charged, and the language of the policy contract that is used. Always check with the department of insurance to ensure that the company is a real insurer (or HMO) and authorized to conduct business in the state. 3. Another alternative is a medical discount plan. This is not insurance, because the plan does not assume the obligation of paying the cost of your medical care. Instead, the plan contracts with hospitals and physicians to provide care to members at a fee that is less than that normally charged. Payment remains the member's responsibility. The amount paid to the plan is merely for access to the participating providers. With these plans, it is important to ensure that the physicians that you use are members of the plan, because if they are not, you will not get the plan discount. Also, providers come and go from the plans, so participation can change. 4. Finally, it is often possible to work out discounts or payment plans directly with providers.
Generally, group plans pay for more medical services and have lower co-pays and deductibles than individual plans. Group plans also are more likely to cover mental health serv…ices; individual plans may offer mental health services as a separate "rider" with a separate additional fee. The insurer can set a price for group plans, knowing that the plan will get some healthy people and some sick people. The price for individual health plans is higher because people who are buying their own plan are more likely to need medical services; there is not a mix of healthy and sick people buying individual plans, in other words. This will change when everyone is required to have health insurance in 2014. Then, insurers will have more healthy people buying individual plans.
Yes you can drop out of a group plan. The employer may ask you for proof that you have coverage from another source. They will ask for this because their contract with the… insurer probably requires them to. Even if you do not have other coverage, they should still allow you to drop out especially if you pay part of the cost. Keep in mind that you may not be able to rejoin the plan until its annual enrollment period. Starting January 1, 2014, you would face a penalty or tax if you do not have health insurance.
Lincoln Financial Group offers three term life insurance plans. These plans are Lincoln LifeElements Level Term (2013), Lincoln LifeElements Level Term (2012) and Lincoln Lif…eElements Level Term.
Some of the most popular and highly rated companies across the US in general for group health insurance coverage include Blue Cross Blue Shield, Cigna, and Aetna. However, in …some areas particularly outside urban centers each of these companies will have limited coverage or a very small number of participating providers, so one always needs to check whether a highly rated plan is good for their area before enrolling. On a local or regional level, there are several health co-ops and provider-specific plans that are very highly rated such as Emblem Health in New York State, the Geisinger Health Plan in northeast Pennsylvania and the Group Health Cooperative of South Central Wisconsin.
Is Tricare Prime considered a group health insurance plan or an individual health insurance plan for retired military?
Tricare Prime is not a "stand alone" plan. Tricare Prime is TRICARE Prime Supplemental Insurance Plan de¬signed to help pay your cost share and copayments under TRICARE (In-N…etwork and Out-of-Network expenses). It was modeled as an HMO. Your Tricare Standard/Extra Plan is the base coverage.