What Is?

Disability Insurance
If you can’t work because of a sudden illness or injury, you can still be financially secure. Supplemental disability income can help to ease the burden when your paychecks stop. As you recover, disability insurance can help you have enough to cover your bills, support your family and protect your hard earned savings. A monthly benefit you choose, up to a percentage of your income

Accident Insurance
An accident can wreak havoc on your savings if you’re not prepared. That’s why there’s accident insurance. It gives you a cushion to help cover medical expenses and living costs when you get hurt unexpectedly. On an average three are 11 unintentional-injury deaths and about 2,330 disabling injuries every hour during the course of a year. Nearly 1 in 8 people sought medical attention or suffered at least one day of activity restriction because of an injury. Accident insurance can pay you a lump sum benefit for on –or off –the job accidental injuries, plus some medical benefits. Because accident insurance is supplemental, it works in addition to other insurance you may have. You can use the policy on its own or to fill a gap left by your other coverage.

Cancer Insurance
No one likes to think about getting cancer but it will still affect 1 in 2 men and 1 in 3 women. While you may not be able to prevent the disease, you can help protect yourself from its cost. Cancer insurance can help you:

Life Insurance
Because you work hard for your family, it makes sense to be sure they’re financially protected – in life and death. This is where term life insurance helps out. It gives you:

Mini-Medical
For Individuals, for groups or a benefit bridge for Groups.
Purpose:
o Cost effective solution for the uninsured
o Great for people who have been turned down or rated up by other insurers
o Perfect to use underneath HDHP (High deductible health plan)
o Allows for part time, seasonal and new hire coverage.
o More cost effective than COBRA

A health insurance plan designed to provide basic benefits for health care needs such as:
o Physician’s office visits
o Diagnostic x ray and outpatient lab tests
o In-hospital stays and Surgical procedures
o Emergency room visits and Child wellness visits
o Some plans provide Prescription card options.

Medical Insurance
Fully Insured – Is when the provider assumes all the risks for the group; such as claims and profits.
Self Insured – Is when the group assumes some or all of the risks for their group; such as claims and profits.

HRA’s - is a Health Reimbursement Account which is a medical plan that the employer decides how best to maximize their savings and Employee health benefits care. This is not portable. Same network of health care professionals and hospitals and the same preventive care coverage. Same medical plan options and same pharmacy plan options.

HSA’s – is a Health Savings Account which is a high-deductible health plan which you, the consumer owns the HSA funds and decides when and how to spend them. HSA dollars can be used tax-free for all eligible medical expenses. They are also portable from one employer to another. First dollar coverage for preventative care is standard on most plans.

HMO’S - A plan that has “network systems” treats each network independently; typically meaning that an insured CANNOT “cross” Networks to receive in-network care; thus, all care – including PCP referrals and INS self-referrals – must be obtained from the same network system. It is the PCP’s responsibility to ensure that the patient is receiving benefits from in-network providers excluding self-referrals.

PPO’S - It is the patients responsibility to ensure they are abiding by plan rules and/or limitations. The patient is encouraged to verify that the provider is currently “participating” as of the date of service. A participant is considered out of network if they seek care from a non-participating provider – or do not adhere to the rules of the plan; out of network benefits are paid at a reduced coinsurance % (from in network benefits), may have a higher deductible (from in network benefits) and are subject to UCR (usual customary rates). Referrals are NOT required unless the employee is seeking out of network care (subject to each carrier’s requirements) or mental health/substance abuse treatment.
POS – Is a HMO that has an indemnity (out of network) benefit attached to the plan; works the same was as an HMO in network, although in a “dual option” the POS may have reduced coinsurance % for in network benefits. An Open Access HMO product and pays its providers in the same manner as an HMO, but to the typical consumer, acts as a PPO. However, Open Access HMO’s cannot be referred to as PPO’s. Referrals or PCP’s are NOT required for Open Access HMO’s for in network benefits.

Dental
There are 3 types of dental plans.

Vision
A plan which provides a benefit plan with a schedule of allowances showing precisely what’s paid for each covered service. Most plans will pay for lenses, contact lenses, the exam, and have frame allowance.

Group Short Term Disability
A plan designed for the employer to provide to its employee’s a short term disability benefit. Ranging from day 1 coverage to 6 months usually. This benefit is a group policy and if the employee leaves the company, the benefit terminates.

Group Long Term Disability
A plan designed by the employer to provide to its employee’s a long term disability benefit. Ranging from 3 months to age 65 usually. This benefit is a group policy and if the employee leaves the company, the benefit terminates.

Group Term Insurance
A plans designed by the employer to provides to its employee’s life insurance for the employee in case of death. This benefit is a group policy and if the employee leaves the company, the benefit terminates. This benefit typically is a small benefit ranging from $10,000 to $25,000.

Interested in a Quote

If you are interested in a quote for medical or benefits, below is a summary of the information needed to obtain a quote for your group.

This information is needed to obtain the most accurate quote possible for the group.

Please contact us if you have more questions or want a quote.
benefit@groupaccessinc.com