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Health Insurance: The Importance of Protection for You and Your Family

Posted on by Shield Insurance Agency

Shield Insurance Agency Blog | Health Insurance | Contact Bri or Carlos for details

Medical expenses can be a significant financial burden, especially if you or a family member
requires extensive medical treatment. Health insurance is a crucial tool that can help you
manage these costs and ensure that you and your loved ones receive the care you need. In this
blog post, we will explore the different types of health insurance available, the benefits of having
health insurance, and how to find affordable coverage.

Types of Health Insurance

There are two main types of health insurance: private health insurance and public health
insurance. Private health insurance is typically purchased by individuals or provided by
employers as part of a benefits package. Public health insurance is provided by the government
and includes programs like Medicare and Medicaid.

Supplemental health insurance is another type of coverage that can be added to your existing
health insurance plan. This type of insurance can help cover costs that are not included in your
primary health insurance plan, such as deductibles, copayments, and coinsurance.
Benefits of Having Health Insurance

The primary benefit of having health insurance is protection. Health insurance can help cover
the costs of medical treatment, including doctor visits, hospital stays, and prescription
medications. Without health insurance, these expenses can quickly add up and become
Unmanageable.

In addition to financial protection, health insurance can also provide peace of mind. Knowing
that you and your family are covered in the event of a medical emergency can alleviate stress
and anxiety.

Finding Affordable Health Insurance

One of the biggest concerns for many people when it comes to health insurance is affordability.
Fortunately, there are several ways to find affordable coverage.

One option is to shop around for health insurance quotes. Shield Insurance Agency represents
over 40 insurance companies and can help you find a plan that fits your needs and budget.

Contact Shield Insurance Agency at (616) 896-4600 for a free quote today.

Another option is to consider a high-deductible health plan. These plans typically have lower
monthly premiums but require you to pay a higher deductible before your insurance coverage
kicks in. While this can be a riskier option, it can also be a good choice for those who are
generally healthy and do not anticipate needing extensive medical treatment.

Finally, you may be eligible for public health insurance programs like Medicaid or Medicare.
These programs are designed to provide coverage for low-income individuals and seniors,
respectively.

Choosing the Right Health Insurance Plan

When choosing a health insurance plan, it is important to consider your specific needs and
budget. Some factors to consider include:

  • Monthly premiums: How much can you afford to pay each month for health insurance?
  • Deductibles: How much will you have to pay out of pocket before your insurance coverage kicks in?
  • Copayments and coinsurance: How much will you be responsible for paying for doctor visits,
    prescriptions, and other medical expenses?
  • Network: Does the plan include the doctors and hospitals you prefer to use?
  • Coverage: Does the plan cover the medical treatments and services you need?

By carefully considering these factors, you can choose a health insurance plan that provides the
protection you need at a price you can afford.

In conclusion, health insurance is a crucial tool for protecting yourself and your family from the
financial burden of medical expenses. Whether you choose private health insurance, public
health insurance, or supplemental health insurance, it is important to find a plan that fits your
needs and budget. By working with Shield Insurance Agency and carefully considering your
options, you can find affordable health insurance coverage that provides the protection you
need.

Contact A Shield Agent today for a review of your current policy and learn about your healthcare options:

Brianna Kornoelje, Health Benefits Advisor, Direct Line: 616.777.3012

Carlos Garcia, Health Benefits AdvisorHabla español, Direct Line: 616-777-3017

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A Mom Posted to Find Friends for 24-yo Son with Down Syndrome–the Flood of Support Shocked Her

A Mom Posted to Find Friends for 24-yo Son with Down Syndrome

Posted on by Shield Insurance Agency

A Mom Posted to Find Friends for 24-yo Son with Down Syndrome –the Flood of Support Shocked Her

GoodNewsNetwork | May 8, 2023 | By Andy Corbley | Down Syndrome | Health Insurance | Start A Quote Today!

Christian Bowers has Down Syndrome but likes to do normal guy stuff like go bowling and play video games.

Making friends was never hard for the young man, now 24, until he finished school and found, as many people without Down Syndrome do for that matter, it’s not as easy and straightforward to maintain a social life.

Bowers’ mother, Donna Herter, watched her son sink further and further into the dumps because he didn’t have any friends to visit him.

Eventually, Herter put up a post on Facebook asking if any local guys near Rochester, Minnesota, would be interested in coming to hang out with Christian for two hours, a service for which she was willing to offer $80,00 in compensation.

A nurse on the night shift put the post up at 4:00 AM before ending her workday and going to sleep. When she woke up, it had amassed 5,000 comments.

“I was freaking out. My hands were shaking, I was sweating. I was just looking for some local guys, I didn’t want to invite like the entire world into our house,” she told CBS News.

Her friends encouraged her to calm down and take a closer look at the comments, in which she found parents offering suggestions and others volunteering to help.

She eventually found 7 fellows from Wentzville, Minnesota, who visit Christian once a week on a rotating schedule. Herter says her son goes to sleep with a smile on his face now, and is excited about life in general, and of the future as well.

Friendships are important for people born with Down Syndrome, and associations urge parents to plan for the eventuality of their child exiting school and needing to take a more precise attitude towards socializing.

Christian occasionally attends gatherings and groups of other special needs men and women his age, but craves friendship with the rest of the population as well.

“And I’ve never asked him, but I assume because it kind of makes him feel normal, just for an hour or two. ‘Hey, somebody who doesn’t have Down syndrome wants to hang out with me,’” she said.

One of the 7 friends, James Hasting, said he felt terrible that Herter had reached the point where she was trying to pay people to visit her son. Hasting, who volunteers with special needs folks, said hanging out just for a few hours to watch a movie or play video games with Christian has changed the way he looks at the world.

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Can I get Health Insurance with Pre-existing Conditions?

Can I get Health Insurance with Pre-existing Conditions?

Posted on by admin

Health Insurance | Over 65? Click here

Many people wouldn’t be able to afford healthcare if they had to pay for it out of pocket. This is one of the many reasons why health insurance is a wise investment. Our team of insurance experts at Shield Insurance Agency is dedicated to helping Michigan residents understand the benefits of health insurance.     

What is Health Insurance?

In short, health insurance helps you pay for your healthcare. Your health insurance will pay for a portion of your healthcare costs or all of the costs after you pay a monthly premium.

Can I get Health Insurance with Pre-existing Conditions?

As a result of the Affordable Care Act, health insurance companies can’t deny a person coverage based on their pre-existing health condition. A pre-existing condition is a health issue that was present before you got healthcare coverage. Health insurance companies aren’t allowed to deny you coverage based on a pre-existing condition.

They’re also not allowed to charge you more as a result of any prior/ pre-existing health issues. Many health insurance companies consider many common chronic ailments as pre-existing conditions. A person with cancer, diabetes, asthma, and more, would be examples of pre-existing conditions. Even pregnancy can be considered a pre-existing condition. Health insurance companies aren’t allowed to discriminate against people who have these pre-existing conditions and more. 

Conversely…

If you enrolled in your healthcare plan prior to the Affordable Health Insurance Act, you have a grandfathered plan. This means that your insurance policy can still cancel your policy or raise your rates due to a pre-existing condition. However, our team is committed to answering your healthcare questions and getting the coverage you need.

Contact Us Today

We at Shield Insurance Agency are standing by to serve Michigan residents. If you are enrolled in a plan that started before 2010, you have a “grandfathered plan”. These plans can cancel your coverage or can charge you higher rates due to a pre-existing condition.

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NEW Ways to *Save* on Health Insurance!

Posted on by Shield Insurance Agency

Shield Insurance | Health Insurance | Contact Bri

New *Health Insurance Subsidies* Available Now at HealthCare.gov; Department of Insurance and Financial Services Ready to Answer Questions About New Opportunities to Save on Health Insurance

Media Contact: Laura Hall, 517-290-3779, halll17@michigan.gov
Consumer Hotline: 877-999-6442, Michigan.gov/HealthInsurance

Call or Text (616) 896-4600 to sign up for health insurance TODAY!

FOR IMMEDIATE RELEASE: April 1, 2021

(LANSING, MICH) New Health Insurance Marketplace subsidies that will help more Michiganders afford health insurance are available now on HealthCare.gov. The increased subsidies are part of the American Rescue Plan, which was signed into law in March.

“With these increased subsidies, working families’ monthly savings could be substantial, but the sooner you start the process the more you could save overall,” said Governor Gretchen Whitmer. “A family of four making $120,000 per year could save approximately $259 per month, while a 60-year-old married couple could save as much as $943 per month for the rest of 2021. Getting started today ensures that you and your family have the health coverage you need while saving the most money possible on your coverage.”

The Health Insurance Marketplace and application process, available at HealthCare.gov, has been updated to reflect both the extended special enrollment period and the newly expanded tax credits from the American Rescue Plan. Michiganders who need Marketplace health coverage should start a Marketplace application by visiting the Health Insurance Marketplace or by calling 800-318-2596 (TTY: 1-855-889-4325). Coverage will start on the first of the month after a plan is selected, so coverage will start May 1 for plans selected in April.

Consumers who already have a Marketplace plan should return to the Marketplace and update their 2021 application to see if they qualify for expanded tax credits and take immediate advantage of the higher subsidies. Individuals who choose not to revisit their application will not be able to lower their monthly health coverage premiums this year and will have to wait until they file their 2021 tax returns in 2022 to get the expanded tax credits for which they qualify. Consumers should know that selecting a new plan under this extended special enrollment period may trigger a reset of their annual deductible for 2021.

“Overall, an estimated 67,000 uninsured Michiganders now qualify for lower-cost coverage, and approximately 16,000 should be eligible for no-cost coverage through these increased subsidies,” said the Michigan Department of Insurance and Financial Services (DIFS) Director Anita Fox. “If you’re unsure how to start taking advantage of these new opportunities, Shield Insurance Agency and DIFS is here to help through our live call center, by email, or with our online resources.”

DIFS can help consumers with health insurance questions and complaints and can provide information about the Health Insurance Marketplace Special Enrollment Period that is now open through August 15. For more information, including a schedule of upcoming virtual health insurance town halls from DIFS and the Michigan Department of Health and Human Services, consumers should visit Michigan.gov/HealthInsurance, contact DIFS via email, or call 877-999-6442 Monday through Friday 8 a.m. to 5 p.m.

The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit Michigan.gov/DIFS or follow the Department on Facebook, Twitter, or LinkedIn.

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Source: https://www.michigan.gov/

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Health Insurance Requirements for Small Businesses

Posted on by Shield Insurance Agency

As a business owner, it can be challenging to keep up with changing rules and regulations, especially those related to health insurance.

Business Medical Insurance with Shield Insurance Agency

What are the essential insurance requirements you need to know for this year? And what are the advantages of offering small business health insurance? Keep reading to learn what your employer obligations are for group health insurance requirements in 2020.

Are employers required to offer small business health insurance in 2020?

Even with the now-repealed Individual Mandate from the Affordable Care Act (ACA), employers were never required to provide small business health insurance. According to the insurance requirements of the ACA, employers with less than 50 full-time employees are considered to be small businesses and are still not required to provide group health insurance coverage to their employees in 2020. However, businesses with 50 or more full-time employees (applicable large employers, or ALEs) are still required to provide health insurance to their workers or face penalties in 2020.

How can employers qualify for the small business health insurance tax credit?

Although it is optional for small businesses to offer group health insurance, employers may be able to benefit from the health care tax credit. A small business can usually qualify for the tax credit if it meets the following insurance requirements:

  • The small business has 25 or fewer full-time equivalent (FTE) employees.
  • Employees are paid an average salary of no greater than $54,200 (in 2019).
  • The small business pays at least 50 percent of employee premiums.
  • The small business buys a SHOP Marketplace Plan on the Marketplace, or from a partner such as Ehealth.

Smaller businesses can generally be eligible for a higher health care tax credit. For instance, a business with less than 10 employees and an average salary of less than $25,000 would qualify for the highest tax credit. Overall, the health care tax credit may help make the purchase of group health insurance more affordable for small businesses while ensuring that their coverage meets ACA insurance requirements.

How can employees save money?

Small businesses can still purchase group health insurance even if they do not qualify for a health care tax credit. For instance, small employers may still be able to deduct the cost of contributing to monthly employee premiums from their federal taxes as a business expense.

Since group health insurance is employer-sponsored coverage, small businesses can also ask employees to pay for a portion of monthly premiums (typically 50 percent or less) from out of their paychecks while still fulfilling employer cost-sharing requirements and ACA health insurance requirements. Browse affordable small business health insurance plans with eHealth to find the best options for your business.

What are small business requirements related to tax reporting in 2020?

There are certain tax reporting requirements for small businesses to keep in mind for 2020.

  • If your company decides to offer group health coverage after meeting insurance requirements, you must report the value of the insurance provided to each employee. This information goes on the employee’s Form W-2 using the code DD, as per IRS requirements.
  • According to the IRS, your business is required to withhold and report an additional 0.9 percent on employee compensation that is greater than $200,000, as per the ACA.
  • Your small business also must pay a fee toward funding the Patient-Centered Outcomes Research Trust Fund. You are required to report this fee through Form 720.

Why should employers offer small business health insurance?

Although in some cases, offering health insurance is beyond typical employer requirements, there are several advantages to offering a group health insurance plan to your employees.

  • Retaining and attracting employees – Providing group health insurance coverage may help your small business recruit better employees while also helping keep your best current employees. In a competitive talent market, offering health insurance as part of a compensation package may be an appealing incentive for people to join your company.
  • Helping your business stand out – According to the Bureau of Labor Statistics, only about 55 percent of companies with less than 100 workers offered medical benefits through small business health insurance. Employees frequently sign up for group plans, even when they have to pay for part of the premiums.
  • Building a healthier workforce – When employees have health insurance, they may take less sick days and could help your small business be more productive. By having access to many health care resources, your employees can proactively attend to their medical needs with fewer disruptions to their work schedule.

Overall, offering group health coverage may be a worthwhile investment for your small business, regardless of your employer’s requirements.

2018 Small Business Health Insurance Report
Source: eHealth 2018 Small Business Health Insurance Report

Where can employers find small business health insurance?

As a small business employer, you quickly can find group health insurance coverage through eHealth. With eHealth’s online marketplace, you can easily compare group medical plans from multiple health insurance companies, including plans which may not be offered on the exchange. By quickly entering your number of employees and the company’s ZIP code, you can instantly get quotes for small business health insurance.

To explore all of your insurance options, browse our affordable small business health insurance plans or speak with one of our licensed health insurance agents today.

This article is for general information and may not be updated after publication. Consult your own tax, accounting, or legal advisor instead of relying on this article as tax, accounting, or legal advice.

For assistance with your small business health insurance, contact our specialist, Carlos Martinez Garcia | P: 616-777-3017 | Fax: 616-896-4601

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