Bernardini & Donovan Insurance Services

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Health Insurance Plans vs. Health Savings Accounts

You may have heard about a health savings account and how it can occasionally be used in lieu of a traditional health insurance plan. While this is technically true, there are a few reasons why a traditional health insurance plan is preferable. A health savings account is a tax-advantaged bank account that remains in your possession and can be used for health care expenses. It’s very similar to an educational savings account or a tax-advantaged retirement account. The Benefits of a Health Savings Account Some individuals prefer a health savings account because it leaves them in charge of their own money; they still are in possession of their money rather than an insurance provider. A health savings account does not entirely preclude the use of an insurance plan; a high-deductible insurance plan is usually still included. Health savings accounts may be beneficial to those who are healthy and who remain

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Attracting Talented Employees through Better Healthcare Perks

Modern employees are extremely savvy about the bonuses that come with a job. Gone are the days when salary used to be the major competing factor in attracting new talent —  now everything is about healthcare, child care, continued education, retirement accounts and other related perks. This is a great thing for both employees and employers. For employees, they can acquire more value than they could in a straight cash salary. For employers, companies can take advantage of a variety of tax incentives and breaks to provide these bonuses and to remain competitive. Vision, Dental and Prescription Services Though they may be optional, offering vision, dental and prescription services isn’t expensive and will go a long way towards showing employees that your business is concerned with their health. There’s also another benefit — providing vision, dental and prescription service makes it less likely that employees will go without care, damaging

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What The ACA Reforms Mean For Children

Health Insurance for Children With the recent twists and turns of the Affordable Care Act, there have been many changes to health insurance. While most people talk about how this will affect the health insurance needs of adults, not many people think about how it can help children. The Affordable Care Act has made it easier than ever for children to be covered with the right health insurance policy. In order to sign up for health insurance, adults have to wait for an open enrollment period or have a qualifying life event. However, children are able to get covered with the right health insurance plan at any point in the year through Medicaid and the Children’s Health Insurance Program, also known as CHIP. Both federal and state programs offer low cost or free health care to children, which help to bring the number of uninsured children to record lows. Many private health insurance

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How To Take Advantage of Free Preventive Care

Free Preventive Care Under the Affordable Care Act, all health insurance policies that are purchased through the Marketplace allow people to have access to free preventive care. These preventive care options are meant to keep people healthy to help them avoid trips to their doctor and pricey medications. While they are known as free preventive care services, they are not really free. They are paid for by your insurance company with the money that you pay each month for your premiums. However, there is no out of pocket costs for you when you need these services, meaning you can never be charged a copay, deductible, or coinsurance. There are many different services that are part of free preventive care, including immunizations, cholesterol and blood pressure screenings, depression screening, and oral health and vision screenings for children. There are also preventive services that are available to women, including prenatal care and

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How An Independent Insurance Agent Can Benefit You

Benefits of an Independent Insurance Agent Trying to find the right health insurance policy can be very stressful. With all of the health care policies available, it can be difficult to ensure that you choose the right policy. Working with an independent insurance agent can help to make the process much easier. There are many benefits of working with an independent insurance agent, including: Independent agents work for you – while an independent agent’s paycheck comes from the insurance company that they belong to, they actually work for you not the company. They will put all of your interests above the insurance company that they work for, which will help to ensure that you will always be able to get the help that you need. They are able to offer more options – independent insurance agents work with many different affiliates, which allows them to offer you a variety of choices. With

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New Special Enrollment Period For Health Insurance

Health Insurance Special Enrollment Period If you missed out on signing up for health insurance during open enrollment, do not worry! The Federal government has recently announced that they are opening a special enrollment period for those who were not able to sign up for health insurance during open enrollment. This special enrollment period runs from March 15th to April 30th and is the last time that you will be able to sign up for health insurance coverage for 2015. While this special enrollment period only applies to the 37 states that are covered through the federal marketplace, state-run exchanges are expected to follow. In order to qualify for the special enrollment period, people will have to prove that they only became aware of the tax penalty for not having health insurance when they were filing their taxes. While the special enrollment period will not reverse the fine for not having health

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