HEALTH INSURANCE

Do you have questions about health insurance plans? You can trust Stephen Schrempp Insurance to keep you informed on the best path for you.

Health Insurance

Health insurance is a type of insurance coverage that typically pays for medical, surgical and prescription drug expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury or pay the care provider directly.

Health Insurance

Health insurance can reimburse the insured for expenses incurred from illness or injury or pay the care provider directly. Health insurance can be tricky to navigate. Managed care insurance plans require policyholders to receive care from a network of designated healthcare providers for the highest level of coverage. If patients seek care outside the network, they must pay a higher percentage of the cost. In some cases, the insurance company may even refuse payment outright for services obtained out of network.

Many managed care plans for example,health maintenance organizations, HMOs, and point-of-service plans, POS,  require patients to choose a primary care physician who oversees the patient’s care, makes recommendations about treatment, and provides referrals for medical specialists. Preferred-provider organizations, PPOs, by contrast, do not require referrals, but do have lower rates for using in-network practitioners and services. Insurance companies may also deny coverage for certain services that were obtained without preauthorization. In addition, insurers may refuse payment for name-brand drugs if a generic version or comparable medication is available at a lower cost.
Increasingly, health insurance plans also have co-pays, which are set fees that plan subscribers must pay for services such as doctor visits and prescription drugs; deductibles that must be met before health insurance will cover or pay for a claim; and coinsurance, a percentage of healthcare costs that the insured must pay even after they’ve met their deductible, and before they reach their out-of-pocket maximum for a given period. Insurance plans with higher out-of-pocket costs generally have smaller monthly premiums than plans with low deductibles. When shopping for plans, individuals must weigh the benefits of lower monthly costs against the potential risk of large out-of-pocket expenses in the case of a major illness or accident.

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The best is now even better with GTL’s Advantage Plus Elite Hospital Confinement Indemnity Insurance! Advantage Plus Elite is designed to fill some of the co-payments, deductibles or coverage limits of today’s most popular health insurance plans. Cash benefits are paid directly to insured to cover hospital confinement, ambulance trips and skilled nursing care expenses, to name a few.

Through GTL’s partnership with TGen, one of the leading nonprofit medical research institutes in the world, Precision Care™ pays for and gives access to revolutionary genome sequencing technology and consultative services from TGen’s expert Cancer Physicians. Precision Care™ also provides a choice of lump sum benefits up to $75,000. Cancer Benefit Builder Riders, Child Coverage Riders, and ROP Riders also available.

GTL’s Short-Term Home Health Care Insurance combines industry leading Short-Term Home Health Care benefits, prescription drug benefits and an easy-issue Hospital Indemnity insurance rider. Other great value-added rider options such as benefits for accidents, ambulance trips and dental/vision are available.

GTL’s Cancer, Heart Attack & Stroke Insurance (critical illness insurance) is flexible and offers cutting-edge benefits for you. In addition to an extensive set of riders, policyholders will have access to an experimental treatment benefit, a skin cancer benefit and more.