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Have Benefits Plans adjusted to deal with COVID? What do I pay for an ER Visit? What happens when I get quarantined for 3 weeks? If I get sick at work, do I get any help with lost wages?
Before the COVID-19 virus crisis, healthcare was already in the top three concerns of most people. Now that we are dealing with a virus outbreak. It is even more important to make sure health insurance coverage is set up to address how we might use our coverage for treatment. Since 67% of the population is covered by Small Business Group Insurance. We are going to discuss solutions for small groups.
What do I pay for an ER Visit?
Emergency Room visits are never planned and neither are the expensive bills they can rack up. Most health plans have a deductible from $2000 up to $7000 before the insurance even begins to help.
What if I have to be Hospitalized?
In addition to the deductible, many health plans have Co-Insurance Cost sharing. Once you spend a night in the hospital, the co-insurance is billed to you. Co-insurance amounts start at 10% of the hospital bill and can go up to 50% of the bill. This is not new. These amounts are a normal part of health insurance plan designs.
Do I get any help when I am out of work while quarantined, sick or recovering?
Many states have expanded government programs to include unemployment or sick pay during the COVID crisis. In other times, we have had to rely on earned sick or vacation time offered by employers or just take unpaid time off. Here are some additional resources available in California.
Some health insurance carriers have recently introduced new group health plan options that provide higher levels of benefits, lower copayments and coinsurance amounts and maintain a good network of provider medical groups and hospitals.
There are some little used group benefits that help fill in the gaps of primary medical insurance. These plans can help pay for deductibles, co-payments and can add benefits. Other plans can help replace lost income when sick or injured and unable to work.
The best solution is to coordinate the available benefits to mesh together to provide seamless coverage, improved quality of care, and reduce overall benefits costs.
Who Should Make Changes Now?
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