Health insurance solutions for individuals
The Problem
Webster’s Dictionary defines insurance as: Coverage by contract whereby one party undertakes to guarantee another against loss by a specified contingency or peril.
In the auto and homeowners’ insurance industries, this definition holds true. Insurance pays for perils like fire, theft, collision, and flood after you pay a large deductible. Insurance does not pay for preventative maintenance or minor problems.
Unfortunately, in the healthcare industry, insurance has grown to mean that a company collects all your healthcare dollars and pays all of your healthcare bills. Or, more realistically, the bills they choose to pay. By many estimates, only 40¢ of every dollar you spend on healthcare insurance goes to administering the plan.
For more information, go to www.simpd.org/overview.htm
A Solution
Purchase true health insurance- The premium for a typical PPO insurance is over $1,200 monthly for a family. A high deductible health plan (HDHP) can be purchased for as low as $400 per month. With this you get catastrophic coverage of hospitalization and surgeries. You can use the other $9,600 for comprehensive primary care and other outpatient services if they are needed. Many other HDHP options are available, but they all offer a substantial savings in premium paid in exchange for you paying more out-of-pocket costs before insurance coverage begins.
Set up a Health Savings Account (HSA)- Think of this as a medical IRA. You put pretax money into a savings account. You then access the money by check or debit card to pay for medical expenses. HSAs can be opened after you purchase a qualifying HDHP. HDHP/HSA combinations are becoming increasingly popular as insurance premiums rise. A family can contribute $6,000 yearly to the HSA. The money earns interest and unused funds roll over to the next year.
Join Revolutionary Health Services - An investment in RHS plus a HDHP leverages the best both offer... all the (benefits) of comprehensive primary care along with the affordability of true health insurance.
Don’t expect your insurance agent to tell you about HDHP. You will need to specifically ask about them. An agent’s commission is based on your monthly premium.
For more information contact:
Online
Local Contact
William Gulla
WRG Consulting Group
Riverview Plaza
33 S. Delaware Ave, Suite 201
Yardley, PA 19067
(215) 493-4777
Riverview Plaza
33 S. Delaware Ave, Suite 201
Yardley, PA 19067
(215) 493-4777
Please Note: Revolutionary Health Services is not an insurance broker nor do we solicit insurance business. The recommendations and opinions expressed herein are those of Revolutionary Health Services and not necessarily those of any of the third parties including the brokers above.
Revolutionary Health Services has been informed by its professional advisors that the views expressed by Revolutionary Health Services as to the use of these various tax-favored plans are essentially correct. Revolutionary Health Services cannot offer tax advice, or suggest that you rely on the advice it has received. Your individual tax advisor or consultant should be contacted for guidance before you actually utilize any of these tax-favored plans in connection with the payment of Revolutionary Health Services fees.
