Making the right medical insurance decisions in Cincinnati

Employees around the Greater Cincinnati region often view health insurance as one of their most valuable benefits. In fact, a survey by the Employee Benefits Research Institute found that 60% of workers felt health insurance was their most important benefit. Health benefits increase productivity, as well as aiding in recruitment and retention of your valuable employees. Novello & Associates, offers a variety of options including small group and medical savings accounts.

Falling ill or injured is not anything a person wants to go through, but unexpected circumstances do happen. When you have a health insurance plan, you’ll be able to protect yourself against high cost medical bills and help pay for costs that are unexpected.

Listed below are some advantages of having health insurance:

1. Those with health insurance no longer have a limit on how much the insurance company will pay, having passed the Affordable Care Act, or Obamacare. The max of health insurance policies start at $1 million and can go up to $5 million dollars. Those suffering with cancer treatment and surgeries could easy reach $1 million, and have no health insurance unless they enroll themselves into a high risk insurance program, which could be costly. Now those obstacles are gone, and individuals who are in need of health insurance to treat an ongoing illness are allowed the care they need without the burden of reaching their max amount on their healthcare plan.

2. Health Insurance companies are no longer allowed to eliminate an individual’s health policy due to a chronic illness or segregate against individuals with a condition that is critical and increase the costs for health insurance. There is integrity for all under the Affordable Care Act.

3. Individuals with a pre-existing condition are still able to purchase health insurance, and are encouraged to purchase health insurance. To help fight conditions that may need extra medical attention, and add some monetary backing to aid in paying for doctor and hospital visits.

4. Insurance Companies provide network services which are less costly than out-of- network physicians and hospitals, therefore making healthcare low-budget for policyholders.

5. Preventive services are now covered for no cost under the ACC mandate. This is especially beneficial for vaccines, checkups and screenings, and it is not necessary that you meet your deductible to receive these services at no charge.

6. To help lower the monthly rate of health insurance, cost assistance is accessible. Known as a tax subsidy or tax credit, federal funds aid those that make between 100%-400% of the Federal Poverty Level. (For an individual that is between $11,700-$47,080, depending on state.) With the help of cost assistance, individuals paid an average of less than $100 per month for a plan on the marketplace in 2015. Saving an individual $268 each month.

7. If you carry an adequate health insurance plan, you will not have to pay a penalty fee for not carrying health insurance. In 2016 the cost for not having health insurance is $695 per person in each household, $347.50 per child, or 2.5% of your total household income, whichever is greater. There is tremendous amount of advantages of health insurance, and cost effective opportunities to get covered.

Call the professionals at Novello & Associates for all of your medical insurance care needs in the Greater Cincinnati area.