How financial advisors can advise clients on nontraditional coverage

Posted by Emily Kubis on Wed, Jun 20, 2018 @ 16:06

Three things to know

Have your clients asked for advice on health coverage? As healthcare costs continue to skyrocket and become cause for concern for Americans at every income level, more financial advisors are recognizing an opportunity to provide another level of service and advice.

When it comes to health coverage, there are numerous strategies your clients may consider. While most are probably covered under a traditional workplace plan, there are nontraditional options that might be a good fit for clients in different situations. For example, if you have clients who are self-employed or retiring before Medicare eligibility, they may need a different solution.

Even clients who have access to a traditional, comprehensive workplace plan may see less value in this type of coverage as premium costs rise into the hundreds and thousands of dollars per month.

Here are three types of nontraditional coverage your clients may consider. While advising on healthcare isn’t typically financial advisor’s area of expertise, having a working knowledge on these options will allow you to position your firm as providing comprehensive advice. Want to offer your clients personalized healthcare advice? Bernard Health provides a Healthcare Extension to financial practices across the country that allows advisors to provide insurance recommendations, enrollment assistance, medical bill auditing and more. Learn more.

Read More

Tags: Bernard Health, retirement, short term plan, healthcare costs, direct primary care, financial planner, financial advisors, healthcare extension, medicare costs

New rules limit short-term health plans

Posted by Emily Kubis on Fri, Jul 01, 2016 @ 09:07

Federal regulations restrict length of short-term policies

The Department of Health and Human Services has released new regulations restricting the sale of short-term plans.

Short-term medical coverage is an alternative to comprehensive health insurance. It is usually significantly cheaper than full coverage, but it also lacks many of the benefits found in permanent health plans.

The new rules limit the length of short-term policies from one year to less than three months, and consumers will not be allowed to renew the plans.

Read More

Tags: health insurance, short-term health plan, short term plan

3 ways to get health insurance if you missed the deadline

Posted by Ryan McCostlin on Thu, Apr 17, 2014 @ 05:04

Open enrollment has ended, but you still have health insurance options

Open enrollment has ended. Unless the Obama administration decides to extend it again, but that isn’t likely. As Jimmy Fallon said, it was a little bit like a Cinderella story the way the deadline was handled. 

Read More

Tags: qualifying event, open enrollment, deadline, short term plan

Email Subscription

employer healthcare freedom
employer healthcare freedom