Health Insurance For You
Individual health insurance is not just for individuals. One of these plans can cover multiple people, such as a family. An individual health plan is bought by individuals as opposed to through an employer or association, and can cover an individual as well as his or her family.
Individual policies are regulated by each state, while the Affordable Care Act (ACA) has made some federal-level changes to how these policies are rated, as well as the benefits that policyholders receive.
There are a few types of individual coverage, including:
- Health maintenance organization (HMO)
- Preferred provider organization (PPO)
- Exclusive provider organization (EPO)
- Point of service (POS)
Some individual health insurance plans have a higher monthly premium with lower deductibles and less cost at the delivery of healthcare, and other plans have lower premiums with higher deductibles and care costs. If you plan to have a baby, this should also be taken into consideration.
Consult an insurance agent before selecting an individual health insurance plan, especially with new complexities that have arisen from the Affordable Care Act. We are familiar with all the industry jargon, and are equipped to help you choose exactly which plan is best for your needs, including whether you are best suited for an individual health plan or a group health plan.
Short Term Medical Insurance
Health Savings Accounts
A Health Savings Account is a medical savings account that is available to United States taxpayers enrolled in a High Deductable Health Plan. Funds put into a Health Savings Account (HSA) are not subject to federal income tax at the time of deposit.
HSAs and high-deductible health plans were created as a way to help control health care costs. The idea is that people will spend their health care dollars more wisely if they’re using their own money.
Funds in the account can be used for qualified medical expenses at any time without federal tax liability. Unused funds in an H.S.A. can be rolled over to the following year. It acts similarly to an I.R.A. in that the person who is enrolled can withdraw from the fund at retirement age for any reason. Like IRA money withdraws from the account prior to retirement, a penalty will be assessed.
There are no income limits that affect HSA eligibility. However, if you do not file a federal income tax return, you may not receive all the tax benefits HSAs offer.
If you withdraw funds for non-medical expenses before you turn 65, you have to pay taxes on the money and a 20% penalty. If you take money out after you turn 65, you don’t have a penalty, but you must still pay taxes on the money.
Health Insurance For Tourists
Up to 180 days of medical coverage for non-U.S. citizens up to 99 years old traveling to the USA.
Length of Coverage
Your coverage length may vary from 5 days to 180 days. You may renew coverage in any increment of 5 days or more (there is a $5 fee each time you renew). You may apply for a new period of coverage after 180 days if you return to your home country* before doing so.
Coverage Start Date – Coverage will begin on the latest of the following dates: the day after we receive your application and correct premium if you apply and pay online or by fax; or the day after the postmark date of your application and correct premium if you apply by mail; or the moment you depart your home country; or the date you request on your application. This is your effective date.
Coverage Expiration Date – Your coverage ends at 12:01 AM North American Eastern Time on the earlier of the following: the date you return to your home country; 180 days after your effective date; the expiration date on your ID card; the day you become a U.S. citizen or enter into active military service.
*Home Country – means the country you have your true, fixed and permanent residence. For United States Citizens, the Home Country is always the United States.
Important Benefit Highlights
Medical Benefits – If your injury or sickness requires medical treatment, we will pay the coverage amounts in the schedule of benefits, minus your per person deductible. Medical treatment must be received within 182 days of your injury or sickness.
International Travel Coverage – If you purchase at least 30 days of coverage, you may travel to countries other than the United States for up to 30 days. This benefit does not include travel to your home country, and it does not extend after your coverage expiration date.
Emergency Medical Evacuation – This benefit pays as shown in the schedule if your medical condition requires immediate transportation from your current medical facility to the closest facility with appropriate care. This benefit must be ordered by Seven Corners Assist in consultation with your attending Physician.
Return of Remains/Local Cremation or Burial – We will pay to return your remains to your home country or pay for local burial/cremation at the place of death.
Common Carrier Accidental Death & Dismemberment – This benefit pays up to $25,000 for accidents occurring while you are riding as a passenger in or on any land, water or air conveyance transporting passengers for hire. Your loss must occur within 365 days after the accident date.