HEALTH INSURANCE

Health insurance documentWe serve businesses and individuals in our community.  As an independent agency, we can recommend the best company for our clients’ needs instead of being tied to only one option.  We save you time by providing quotes from top insurance companies and follow it up with the best customer service in the industry. Every year the cost of providing healthcare increases dramatically. Simple same-day surgeries, required tests and emergency attention can add up to tens of thousands of dollars or more. The overall benefits of health insurance are obvious. You won’t be avoiding the doctor because it costs too much. The hospital bills won’t be piling up on your desk waiting for attention. Your health insurance will provide the help and care you need and demand.

INDIVIDUAL HEALTH

If you don’t have health insurance coverage through your employer or other group, individual medical coverage is most likely the option for you.  We have access to a wide range of plans designed to meet your unique needs.  Individual health plans are intended to address all of the health insurance needs of our individual customers.

Many Missouri residents believe that you can only apply for individual health insurance directly through healthcare.gov.  Fortunately, this is not the case.  All Brand Financial can assist you with ANY type of plan, including the Affordable Care Act, marketplace, subsidized, health care reform, on-exchange and private health insurance.  We help you choose the right plan to fit your needs!

GROUP HEALTH

Group Health Coverage is a policy purchased by an employer and offered to eligible employees (and often to the employees’ family members) as a benefit of working for that company.  It is our job to understand the unique needs of your business and tailor the right group health insurance plan for you and your employees.  We recognize there is not a one-size-fits-all plan for group health insurance.  We have the right combination of experience, resources, and options to help find the plan that’s the best for you.

Health insurance collage

The following is an outline of coverage options we are pleased to provide:

  • Co-pays
  • Preventive care
  • Low to high deductibles
  • Co-insurance
  • Prescriptions
  • Chiropractic
  • Maternity
  • National network
  • Hospitalization

Below are the types of plans we are pleased to provide:

  • Co-pay plans
  • Limited Network plans
  • HSA plans

All Brand Financial assisted me in finding the best health insurance plan that fit all my needs.  They were always ready with exhaustive information, excellent guidance and offered great advice.  I highly recommend this company 100%!  They had a keen understanding of the health insurance market and paid close attention to detail.  They were very friendly and had a genuine willingness to assist me at all times!

Seth B.

We offer insurance plans that include preventive care, hospitalization, prescriptions, doctor visits, urgent care and emergency room coverage.  Whether you are looking for a traditional co-pay plan or the flexibility of a health savings plan, we can help.  We will assist you with determining which plan is right for you and your specific needs.  It’s our job to make it easy!  For a complimentary consultation, please give us a call at (314) 739-9100 or request an appointment by going to our Contact Us page and submitting your information.  We look forward to helping you get on your way to years and years of great health!!

frequently asked questions

What is health insurance?

Health insurance is a contract with an insurance company, which agrees to pay some or all of your medical bills based on your “coverage,” or the terms of your policy. In exchange, the insurer is paid a set amount of money — a “premium” — on a regular basis. Most Americans have private health insurance, either through their employer’s group plan or through buying their own individual policy. Others are covered under public “safety net” programs such as Medicare and Medicaid.

Why do I need health insurance?

It’s no secret that health care is expensive today. The government says the cost to treat a broken leg can run $7,500 and an average three-day hospital stay can set you back $30,000. Without insurance, many Americans would be one health setback away from financial ruin. Regularly paying a set premium for health coverage assures that money will be available to defray the cost of everything from routine checkups to catastrophic medical bills.

What's the difference between a deductible, a copayment and coinsurance?

All three are medical charges you must pay out of your own pocket, even if you have insurance. Your deductible is the initial amount you must pay each year for covered health services before your insurer will start to chip in. Plans may have separate individual and family deductibles and/or deductibles for separate services such as hospitalization. A copayment is a fixed amount you pay toward each medical service, such as $25 for a checkup. Coinsurance is a fixed percentage, rather than a flat amount, that you pay toward each service.

What is the Affordable Care Act, and why do we need it?

The Patient Protection and Affordable Care Act were signed into law on March 23, 2010. It includes a broad range of reforms designed to make health insurance better and more affordable, rein in health costs and expand coverage among America’s nearly 50 million uninsured. The act requires most Americans to have health insurance or face a penalty. It also makes it illegal for insurers to set dollar limits on coverage, drop you if you get sick or charge more or deny coverage because of a pre-existing condition.

Do I really have to buy health insurance?

The Affordable Care Act’s “individual mandate” requires all Americans, with a few exceptions, to have health insurance that typically offers “minimum essential coverage.” Going without insurance could bring a tax penalty.

The penalty’s cost is calculated in one of two ways:

You’ll either pay a percentage of your household taxable income – which you’ll figure on your annual tax return – or a flat rate, whichever is greater. Your tax return will also help you determine your penalty amount.

Each year, the penalty will increase to keep pace with inflation and encourage people to buy coverage.

For tax year 2016, the Affordable Care Act penalty is 2.5% of your household’s annual taxable income or $695 per adult, whichever is higher, and $347.50 for each uninsured child, to a maximum family cap of $2,085.

For tax year 2017 and beyond, the percentage option will remain at 2.5%, but the flat fee will be adjusted for inflation.

The penalty will show up as an additional tax or a reduction in your federal tax refund.

I can't afford to buy health insurance, what should I do?

Depending on your income, you may be eligible for lower-cost, subsidized coverage purchased through the Affordable Care Act’s state health insurance exchanges. Or, you may qualify for free or low-cost coverage through Medicaid or the Children’s Health Insurance Program, aka CHIP.

How do I qualify for an Affordable Care Act subsidy to cut health insurance costs?

If you earn between $11,500 and $46,000 per year for a single person or $23,550 and $94,200 for a family of four and do not have affordable employer-sponsored coverage, you could receive an “advance premium tax credit” to help with the cost of insurance purchased through your state’s exchange, or marketplace. A premium discount is deducted from your federal income tax, and you decide how much to put toward your insurance payment each month. You also may qualify for help with out-of-pocket health care costs, if you earn less than $28,725 as a single person or $58,875 for a family of four.

What is a state health insurance exchange, or marketplace?

The Affordable Care Act requires each state and the District of Columbia to establish an easy-to-use online health insurance marketplace where individuals and small businesses can compare health plans and find coverage that fits their budget. The exchange also will tell you if you’re eligible for a federal tax subsidy to help pay your premium or if you qualify for a government safety net program such as Medicaid.

Who is exempt from paying the penalty for not having health insurance?

The law excuses certain individuals from the penalty, including members of religious sects that have religious objections to health insurance, participants in health care sharing ministries, and those who are uninsured for less than three months of the year. You also could be exempt if your income is too low to require a federal tax return, you can’t reasonably afford coverage, or you would have qualified for Medicaid had your state elected to expand the program as provided for under the Affordable Care Act.

I've had the same policy for years. Does health care reform affect my plan?

Some provisions of the Affordable Care Act do not apply to so-called grandfathered plans written before the law took effect. These include the freedom to choose your own doctor, preventive services at no additional cost, and the right to appeal if your insurer denies a claim. However, as with new policies, grandfathered plans are required to cover children up to age 26, provide a simple summary of coverage and costs, and cease any lifetime limits on benefits.

How can I be sure that my current coverage will allow me to avoid the Affordable Care Act penalty?

You’re OK if you are currently insured through: an individual or group plan (grandfathered or not); a veterans health care program, including Tricare; Medicare; Medicaid; the Children’s Health Insurance Program, or CHIP; Peace Corps volunteer plans; or COBRA continuation coverage for the unemployed.

Does the Affordable Care Act affect my employer's group plan?

Yes. For employer-based insurance, it means: preventive services at no additional cost (unless you have an older, grandfathered plan); an end to lifetime/annual dollar limits and cancellation of coverage if you get sick; guaranteed coverage for your adult children until age 26; guaranteed coverage if you have a pre-existing condition; and the right to appeal a denied claim. If your employer’s plan costs more than 9.5 percent of your income or doesn’t meet the law’s minimum coverage requirements, you might qualify for subsidized coverage on your state health marketplace, or exchange.

I've never shopped for health insurance before. How will the marketplace help?

All private health insurance plans offered through the state marketplaces must offer the same set of “essential health benefits” as defined under the Affordable Care Act. These include: hospitalization; emergency care; rehabilitative services; lab tests; prescription drugs; preventive care; maternity, newborn and pediatric care; and treatment for mental health disorders and substance abuse.

How can I tell Affordable Care Act plans apart?

To facilitate apples-to-apples comparison shopping, marketplace plans will be grouped into four “metal” categories, from less expensive bronze and silver coverage to the more expensive gold and platinum plans. If you are younger than 30, have a very low income or lost your insurance because your previous policy was canceled for not meeting Affordable Care Act’s new standards, the marketplaces also will offer high-deductible, lower-premium catastrophic coverage.

I never shop online. Is it safe?

The new state marketplaces are designed to be secure and password-protected. All health insurance policies offered through them have been approved by your state’s department of insurance and certified by the marketplace. You’ll need to fill out an online application; the site will determine if you qualify for premium discounts, reduced out-of-pocket costs, or coverage under Medicaid based on your income and family size.

I'm on Medicare. Does the Affordable Care Act affect me?

In many ways, no; Medicare officials have been stressing to seniors that their benefits are not fundamentally changing and that they will not need to use an online marketplace. But thanks to the Affordable Care Act, Medicare recipients now receive free preventive services, including a wide range of health screenings and an annual wellness visit. In 2012, those with Medicare Part D prescription drug coverage received a 50 percent discount on brand-name drugs and a 14 percent discount on generics. Those savings will increase through 2020 as the ACA slowly closes the so-called prescription drug doughnut hole.

Some of my friends received rebate checks from their health insurers the past two summers. Why didn't I get one?

One way the Affordable Care Act is attempting to rein in health costs is through the “80-20 rule.” Health insurers must spend 80 percent of your insurance premium directly on your health care and no more than 20 percent on their administrative costs. (For employer group plans, at least 85 percent of premiums must go toward care.) Insurers that fail to meet the mark must issue rebates to each policyholder. If you buy your own health insurance and didn’t get a rebate, it likely means your insurer passed the efficiency test.