What is Underestimating Disability Insurance?
If you underestimate your risk of disability, you’re not alone … only 10% of individuals accurately estimate their chance of disability, according to a study by the Council for Disability Awareness. TMA Insurance Trust shares some startling statistics: One in 8 workers will be disabled for five years or more during their lifetime. The average group long-term disability claim [...]
What are Short Term Health Plans?
Short Term health insurance plan is a more affordable and flexible solution to the health care needs than an Affordable Care Act plans. Short Term health insurance is medical insurance designed to provide coverage during the gaps between other health care plans. Short-Term medical plans do not qualify for government [...]
What is a POS Plan?
Point-of-Service (POS) Plan is a type of plan in which you pay less if you use doctors, hospitals and other health care providers that belong to the plan’s network. POS plans may require you to get a referral from your primary care doctor in order to see a [...]
What is a HRA Plan?
Health Reimbursement Accounts (HRAs) are employer-funded group health plans from which employees are reimbursed tax-free for qualified medical expenses up to a fixed dollar amount per year. Unused amounts may be rolled over to be used in subsequent years. The employer funds and owns the account. Health Reimbursement Accounts are sometimes called Health Reimbursement [...]
What is a HSA Plan?
Health Savings Account (HSA) are medical savings account available to taxpayers who are enrolled in a qualified High Deductible Health Plan. The funds contributed to the account aren’t subject to federal income tax at the time of deposit. Funds must be used to pay for qualified medical expenses. Unlike a Flexible Spending Account (FSA), funds roll over year to year if you don’t spend [...]