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Embedded Versus Non-Embedded Health Plans

An embedded health plan and a non-embedded health plan refer to how health insurance coverage is structured for family members within a single policy. The key difference between the two lies in how the coverage is organized for dependents within a family. The choice between embedded and non-embedded health plans depends on the family’s specificContinue reading “Embedded Versus Non-Embedded Health Plans”

Qualifying Events for Health Insurance

Health insurance plays a vital role in ensuring individuals and families have access to necessary medical care without incurring exorbitant costs. While many people obtain health insurance coverage through their employers or government programs, certain life events may trigger the need for insurance outside the typical enrollment periods. These events, known as qualifying events, allowContinue reading “Qualifying Events for Health Insurance”

What’s the difference between an embedded deductible and a non-embedded deductible?

This is a great question and, luckily, has a fairly straightforward answer. Embedded deductibles and non-embedded deductibles are terms used to describe how deductibles are applied in health insurance plans. Here’s an explanation of each: For example, suppose you have a family health insurance plan with an embedded deductible of $1,000 per person and aContinue reading “What’s the difference between an embedded deductible and a non-embedded deductible?”

HRA? HSA? FSA? What’s the Difference?

So what’s the difference between all these acronyms for health benefit accounts? Here’s the quick version. A HSA (Health Savings Account) is a tax-advantaged savings account that can be used to pay for qualifying medical expenses. Contributions to an HSA are tax-deductible and withdrawals for qualifying expenses are tax-free. HSAs are typically paired with aContinue reading “HRA? HSA? FSA? What’s the Difference?”

Health Savings Acount

The time has come to talk about Health Savings Accounts (HSA). A HSA is one of the most unique and also beneficial piece of the health insurance process, but not a lot of people truly understand it and how it works. Let’s break it down one piece at a time. What is it? Your HSAContinue reading “Health Savings Acount”

Ahh! So many definitions for health insurance!

You’re fairly confident you understand health insurance definitions and terms, but continually doubt yourself. Fear no more, just continue to read and you’ll be up to speed in no time. Deductible: the amount of money you pay out of pocket before your insurance even thinks about helping out. Deductibles are specific dollar amounts. Out ofContinue reading “Ahh! So many definitions for health insurance!”

Do my grandkids qualify as dependents?

I get this question a lot – “can I put my grandkids on my insurance?” Most of the time the answer is no, but there are certain circumstances in which grandkids can be placed on your policy as a dependent. Let’s explore. The ACA (link here) talks many times about ‘dependents’ as being defined inContinue reading “Do my grandkids qualify as dependents?”