Health #insurance premiums and costs are rising each year and causing financial stress for many individuals and families. If you’re looking for ways to save #money on medical expenses, a health savings account (#HSA) may be an effective tool. Here's a look at the rules, benefits, pros and cons of contributing to HSAs so you can decide if it’s a good option: https://ow.ly/7kg050S8ItX
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Group health plans typically fall under one of two categories: fully-insured and self-insured. Employers should consider a variety of factors when selecting a funding approach for their health plan, including the compliance requirements for each option. Click here to learn differences and similarities between the two: https://bit.ly/455zpa1 #myhcg #thehealthconsultantsgroup #employeebenefits #benefits #insurance #selfinsured #fullyinsured #compliance
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I help families achieve financial freedom through world class financial education and services.
What is an IBR? IBR stands for Increased Benefit Rider. This rider allows you to receive a 10% increase in your death benefit without a medical exam over a set period of time. The 10% is 10% of your original death benefit. For example, your original death benefit is $500,000. 10% of $500,000 is $50,000. The 10% increase is guaranteed for the next 10 years. After 10 years, this individual will have $1 million in coverage by increasing their coverage by $50,000 each year (a 10% increase each year). The 10% increase does come with an incremental increase in premium. The biggest benefit of the IBR is that if your health changes for the worse, you are able to increase your coverage without a medical exam. The IBR is based on your application age. It is discouraging for a client to not be able to get more coverage because of their health, BUT the IBR can help provide extra coverage without the worry of the insured's health worsening. IBR is an added cost for some insurers but there are insurers that include it at no extra cost. An IBR can add great value to someone's policy. To your financial future. Frantz. #lifeinsurance #insurance #IBR #nomedicalexam #financialfreedom
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Gain access to the benefits of Health Savings Accounts (HSAs) with INI! Navigate the insurance process seamlessly with our expert assistance. Let us guide you toward optimal healthcare savings and financial wellness. #ini #InsuranceGuidance #InsuranceUSA #InsuranceCoverage #HSA #Complexity #healthcare #savings
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Group health plans typically fall under one of two categories: fully-insured and self-insured. Employers should consider a variety of factors when selecting a funding approach for their health plan, including the compliance requirements for each option. Click here to learn the differences and similarities between the two: https://ow.ly/ciR250Pvkrw #myhcg #thehealthconsultantsgroup #employeebenefits #benefits #insurance #selfinsured #fullyinsured #compliance
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Business owners, the year is still relatively young. That makes now a good time to consider making changes to your employer-sponsored health care plan. Or perhaps you’d like to explore launching a plan for the first time. Here are four “big picture” factors to keep in mind: 1) Fully insured vs. self-funded; the former offers predictability while the latter could save you money. 2) Network size; this can make a big difference in participant satisfaction. 3) Tax-advantaged accounts such as HSAs and FSAs; these can enhance insurance plans. 4) Government assistance; the federally run Small Business Health Options Program is a good place to start for eligible companies. Contact us for help. #DukhonTax
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Partner - Tax Connect Advisory & Chairperson - National Fiscal Affairs And Taxation Committee at The Bengal Chamber of Commerce & Industry
Business Standard & Deccan Herald - Union Budget 2024: Insurers expect more tax benefits for health insurance Links for accessing the articles :- Business Standard - https://lnkd.in/g8KvmefF Deccan Herald - https://lnkd.in/gAdB_Qdn #newsarticle #unionbudget #insurers
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It's our first #TriviaTuesday! Can you answer this question correctly? If you chose C) coinsurance, you are correct! Coinsurance is the percentage of covered health costs that you pay after you've met your deductible. For an example: if your plan has 80/20 coinsurance, this means your insurance company pays 80% of covered costs and you pay the other 20%. Have questions on your coinsurance? Give us a call!
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Monitor this closely. A noteworthy rise of 7% in family coverage is substantial. While a 7% increase aligns with the norm, the average implies that numerous groups are experiencing increases in the double digits. Explore ways how we can cut employer and employee costs by contacting our team or visiting TheBigPlan.com. #healthinsurance #ichra #savings #benefits #renewal #insurance #insurtech
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Family history enables insurers to evaluate potential hereditary risk factors that might affect your health, influencing your insurance premiums and coverage options. They typically seek details of medical conditions or deaths occurring in immediate family members before the age of 65 or 60 with some insurers. Events occurring beyond these ages are generally not of interest to them #100daysofinsurance #lifeinsurance #criticalillnessinsurance
