Health Insurance
Often referred to as Obamacare. Can be sold on and off exchange, by various carriers
What is the Affordable Care Act
Gives policyholder a lump sum benefit to help pay expenses associate with an accident or illness
What is Supplemental Insurance
2-20 employees; in some cases as few as 1 employee
How large of a group can Steve write insurance for?
October 15 - December 7
What are the dates for the Medicare Annual Enrollment Period?
Ohio, Michigan, Texas, Florida
What states is Steve licensed to sell insurance in?
As of September 1, 2024 can be sold for a maximum of 4 months.
What are Short Term Medical plans
Cancer, Critical Illness, Accident, Dental/Vision, Hospital Indemnity
What are the types of supplemental insurance that Steve offers?
HMO or PPO
What types of plans are offered by group insurance carriers in Ohio?
Covers medical costs with fixed copays, fixed coinsurance. Usually costs the insured little or no monthly premium.
What is a Medicare Advantage Plan?
Self employed, employer doesn't offer insurance, new to area, turning 26, turning 65
What are examples of good referrals for Steve?
Questions that are asked by the insurance agent to determine when an applicant qualifies for the product applied for.
What is Underwriting
Pays a fixed amount per day for each day the beneficiary is hospitalized. Can also be paid as a lump sum benefit.
What is Hospital Indemnity?
Underwritten or ACA plans
What are two options for groups applying for coverage?
Covers costs that Original Medicare (A and B) don't cover with a few key exceptions (Part B excess and Part B deductible). Cost for the plan paid by insured.
What is a Medicare Supplement?
Doctors, dentists, P&C Agents, employment agencies, landscapers, plumbers, any trades people
What are examples of good referrals for Steve?
Standar Bronze, Standar Silver, Standard Gold
What are the Marketplace plans that each insurance company is required to offer
Doctor sends medical records to the insurance company detailing the treatment received.
How does a beneficiary file a claim for supplemental benefits?
Group size, age, health status of group members
What determines the rate for a group insurance plan (except ACA plans)
Maximum of $2000. Insured will pay a deductible (on some plans) and copays until this is reached.
What is a Prescription Drug Plan? (Donut Hole)
Complaints about insurance, doctor doesn't take insurance, medications are too high, cost of insurance is too high
What things should you listen for when thinking about referrals for Steve?
November 1 through January 15
When can an individual enroll in an ACA (Marketplace) plan?
Next day or any day within 60 days of application
When can a supplemental plan become effectve.
Southern Ohio Chamber Association and Ohio Farm Bureau
What organizations offer group health insurance that Steve can write?
Loss of coverage, reduction in service area, move, new to Medicare
When can someone enroll in or change plans, outside of the Annual Enrollment Period?
small employer that does not want to offer group insurance but what's to explore how they can help employees with insurance costs
What would be a great referral for Steve?