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Health Insurance Solutions for Individuals
The rising cost of health care is exceeded perhaps only by the rising cost of health insurance. Many individuals find their annual health insurance costs increasing exponentially. Others find that even with a “catastrophic” insurance plan, basic medical care (the type of care that is used most often) is not covered, resulting in more out-of-pocket expenses.
Concierge Physician Associates solution to this is for patients to combine a high-deductible insurance coverage plan with an HRA (Health Reimbursement Arrangement) that will allow you to reduce the monthly expense of your insurance plan while getting direct, primary preventative wellness care from Concierge Physician Associates.
High Deductible Insurance Plans
A deductible, in insurance terms, is the amount you must pay for health care before payments from the insurance company begin. After the deductible is met, insurance companies typically pay 50 to 80 percent of covered expenses up to certain annual limits, depending on the plan.
In general, the higher the deductible, the lower the monthly premium. You will save a substantial amount in premiums, in exchange for paying more in out-of-pocket costs before insurance coverage begins, including expenses for routine primary and preventive care.
Health Savings Account
One way to ensure that you are able to meet the increased out-of-pocket expenses associated with a high deductible health insurance plan is to set money aside each month in a readily accessible tax-free savings account. Thanks to recent federal legislation, a Health Savings Account is a new option that is growing in popularity for this purpose. Certain “qualified” high deductible insurance plans allow you to open a health savings account and make tax-exempt contributions that can be used for medical expenses not covered by your insurance. Several insurance carriers in Texas State offer HSA qualified individual insurance plans at competitive rates.
Concierge Medicine Associates Primary Care
Another way to ease the transition to a high deductible insurance plan is to join Concierge Medicine Associates Primary Care. The combination of Concierge Medicine Associates plus high deductible insurance leverages the best characteristics of both types of health care coverage: the better access, exceptional service and low prices that are the hallmark of direct primary care plus the affordable coverage provided by high-deductible insurance.
Enrollment
Concierge Medicine Associates Primary Care accepts registration forms on a rolling basis which means that you can join the practice at any time. However, health insurance carriers typically require their forms to be submitted by a specific day of the month in order to start coverage the 1st day of the following month. For any given insurance carrier, plan prices are fixed by law so you will get the same price no matter where you shop. Sales commissions for insurance plans are built into the monthly premium and paid by the carrier so there is no cost to you for consulting with an insurance broker.
Questions
Concierge Medicine Associates is not an insurance broker nor do we solicit insurance business but we have some great cost savings ideas that may help you get more health care for less money. If you have questions about Concierge Medicine Associates or would like a referral to a licensed insurance broker, please refer to the following links or call (281) 500 – 8176.
Please Note: Concierge Physician Associates is not an insurance broker. We do not solicit insurance business. The recommendations and opinions expressed on this website are those of Concierge Physician Associates and not necessarily those of any third party, including insurance brokers.
Concierge Physician Associates has been advised that our views regarding the use of various tax-favored plans are essentially correct. We do not offer medical related tax advice. We recommend that you consult your tax accountant regarding the tax-favored plans associated with payments made to Concierge Physician Associates.