Health Care Insurance Options when You Leave Your Day Job Gettysburg PA

When a person is out of work, he or she operates on a tighter budget. Being faced with a major medical expense without insurance and no income to cover the care is only part of the problem. Read on to know more about this topic.

Kaymap, LLC
(717) 352-7576
6307 Fairway Drive West
Fayetteville, PA
 
Waynesboro Area Advanced Life Support Unit, Inc.
(717) 762-1283
501 E Main Street
Waynesboro, PA
 
michael scavullo
5266 Bailey Ct
Doylestown, PA
Company
Company: J.P. Turner & Company, LLC. (member SIPC) www.sipc.org
Type
Investment Advisor Rep: Yes
Years Experience
Years Experience: 15
Service
Life Settlements,IRA, 401k, Roth IRA, QDRO Rollovers,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Fee Only Portfolio Management,401k Rollover From Employer,CD Alternative,Disability Insurance,Annuities,Alternative Asset Class Planning,Commission-Only Financial Plan

Data Provided by:
Joseph Malis
142 15th Street
New Cumberland, PA
Company
Company: Sterling Retirement Services, Inc
Years Experience
Years Experience: 15
Service
Health Care Insurance,Retirement Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Retirement Income Distribution Planning,Business Income Tax Planning,Alternative Investments,Annuities,Alternative Asset Class Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Wealth Management,Life Insurance,Investment & Portfolio Management,Commission-Only Financial Planning (Ful

Data Provided by:
Michael Dinich
2382 Elmira Street
Sayre, PA
Service
Mortgage Refinancing,Stock Market Alternative,Wealth Management,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicaid,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances

Data Provided by:
Waynesboro Hospital-Affiliate of Summit Health
(717) 765-4000
501 East Main Street
Waynesboro, PA
 
David Waters
1429 Walnut Street
Philadelphia, PA
Company
Title: Vice President
Company: Professional Planning Associates
Type
Investment Advisor Rep: Yes
Education
Dickinson College/BA in Economics
Years Experience
Years Experience: 30
Service
Portfolio Engineering,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Fee Only Portfolio Management,High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Life Insurance,Investment & Portfo

Data Provided by:
Ricardo Ferreira
1100 Horizon Circle
Chalfont, PA
Company
Title: Financial Services Associate
Company: Prudential Financial
Type
Investment Advisor Rep: Yes
Education
Penn State University
Years Experience
Years Experience: 3
Service
Wealth Engineering,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Medicaid,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Portfolio Engineering,High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Health Care Insurance,Retirement Planning,Long-Term

Data Provided by:
John Crowley
643 Bridge Street
Schwenksville, PA
Company
Company: Stone Henge Advisory Group
Service
Medicare Planning,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Disability Insurance,Annuities,Alternative Asset Cla

Data Provided by:
John O'Neill
100 west elm street
conshohocken, PA
Company
Title: Managing Director
Company: Principal Finacial Group
Education
Saint Joseph Unversity
Years Experience
Years Experience: 18
Service
Health Care Insurance,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Disability Insurance,Business Income Tax Planning,Annuities,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Medicaid,Education Funding & Financial Aid Planning,Fee-Only Comprehensive Financial Pla

Data Provided by:
Data Provided by:

Health Care Insurance Options when You Leave Your Day Job

Provided By: 

Insurance Options to Consider When You’re On Your Own for Health Care

By Steve Trattner, President & CMO of Cinergy Health

People need to insure their health at all times for different reasons. Experiencing a reduction in income is the most important time to protect oneself from spikes in expenses. American bankruptcies are climbing as a result of both unemployment and medical debt. When a person is out of work, he or she operates on a tighter budget. Being faced with a major medical expense without insurance and no income to cover the care is only part of the problem.

An extended illness or disability brings added expenses, such as physical therapy and expensive prescriptions, and it might even cause the other spouse to take a leave of absence from work. Additionally, without even basic insurance, people tend to put off important preventive care and are less likely to detect an illness at its earliest stages. The consequence is that when an illness strikes, it may be more serious, which may even prevent the person from returning to work. We have to invest in ourselves at all times to open up the best possible health insurance options.

If you lose job-based group coverage, you only have a short window of opportunity to make decisions that affect your health insurance options. Whether you choose to pursue private health insurance or COBRA, you only have 60 days from the point of losing your group health coverage to make a decision. Your employer may be eligible for subsidies that will significantly reduce your premiums for COBRA through December 2009.

Three Options to Consider
When you’re financially strapped, consider three options that can provide a temporary solution to the employment “gap”: 1. High-deductible major medical plans (HDHP); 2. Short term major medical insurance; and 3. Limited medical benefit plans.

HDHPs
HDHPs allow you to get the catastrophic protection that you expect from a major medical plan, but with a very high deductible, say $7,500. You’ll have to pay for most of the care you receive until you reach the deductible, but the premiums are much lower.

Short Term Major Medical Plans

Short term major medical plans are plans that cover you for a short duration of time, such as 6 or 12 months. If you’re out of work at the end of the term, you’ll typically have to re-apply. However, these plans provide a broad range of coverage at a low price by limiting the insurance company’s long-term exposure.

Limited Medical Benefit Plans
Limited medical benefit plans represent a growing segment of the health insurance market and are generally more affordable than traditional major medical plans. These plans reduce or even eliminate your deductibles and shorten pre-existing waiting periods. They are designed to pay for more routine and predictable medical expenses. Without deductibles, you are encouraged to seek care at the first sign of illness rather than putting it off until your situation worsens. 

Mo...

Click here to read more from Home Business Magazine

© Copyright 2013 Home Business Magazine. All Rights Reserved. Privacy Policy | Terms and Conditions
Infoswell Media