Individual Insurance Resources

Cheap Medical Insurance: If It Sounds Too Good to Be True… 150 150 Encore Benefits

Cheap Medical Insurance: If It Sounds Too Good to Be True…

The average premium for individual health insurance coverage has more than doubled in the past five years. So if you’re paying for your own insurance, unless your income has also doubled, you’ve felt the sting.  If you’re ineligible for a subsidy, your monthly premium can rival your mortgage payment. “There’s GOT to be something cheaper…

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What is an “Out-of-Pocket Max?” 150 150 Encore Benefits

What is an “Out-of-Pocket Max?”

It’s known by a few terms – “out-of-pocket max, “maximum out-of-pocket,” “maximum liability,” and a few others – and that’s only part of the confusion: What is it, and what does it mean for your insurance coverage? As explained in “What is a Deductible?,” your health insurance deductible is the amount which you are expected…

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What is a Deductible? 150 150 Encore Benefits

What is a Deductible?

In insurance, a deductible is the amount that you (the insured) are responsible for FIRST before the insurance company starts paying toward your covered care.  Deductibles for all ACA individual insurance and most (but not all) employer group insurance are tracked by calendar year, regardless of when your coverage started. For example, if your insurance…

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The End Of The Cost-Sharing Reduction 150 150 Encore Benefits

The End Of The Cost-Sharing Reduction

You probably heard news coverage over the weekend about the federal government’s announcement that it would suspend Cost Sharing Reduction (CSR) payments to insurance companies for individual plans purchased through Healthcare.gov. As when any complex issue gets reported, some of the most important facts can easily be lost in the story. Here are some answers…

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Where Does My Insurance Premium Go? 150 150 Encore Benefits

Where Does My Insurance Premium Go?

Many of us look at the amount our insurance premiums costs today, compared to the amount we use, and think, “Somebody at the insurance company must be getting rich off me!” The insurance companies would like you to know: If anybody’s getting rich, it isn’t them. Risk Distribution Part of the concept of any kind…

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Replacing Obamacare: Evaluating State-Based Insurance Obstacles 150 150 Encore Benefits

Replacing Obamacare: Evaluating State-Based Insurance Obstacles

During the run-up to the Presidential election, then-candidate Donald Trump made many broad promises about replacing Obamacare. One of the oft-repeated components of his solution was to allow insurance carriers to “sell across state lines”; at other times, he described it as “erasing the lines around the states.” He gave very little detail about the two…

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About Health Care Sharing Ministries 150 150 Encore Benefits

About Health Care Sharing Ministries

As health insurance premiums have risen, many individuals are looking for creative (and less expensive) ways to meet both their coverage needs and the mandates of such legislation as the Accordable Care Act (ACA). One alternative which is gaining more visibility is participation in a health care sharing ministry (HCSM). Currently, 30 states allow the…

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