There are many myths about insurance brokers, but they are not true. In this article, we will look at Health Insurance Brokers in Doylestown and some testimonials from Apollo Insurance clients, a renowned insurance broker in Doylestown.

We assist our clients in obtaining the best possible coverage at the most reasonable price. We have plans to suit a wide range of budgets and backgrounds. Apollo has long-standing, premier relationships with nearly all major carriers, and our services are completely free of charge to you. We want to make your health insurance problems our problems, not yours.

We are your industry experts, with a combined 20+ years of experience!

I’m not an insurance expert, but I know these are the people I want to work with. Matt Sisk has been my rep for the last two years, and I hope he will be my rep for the next fifty. Best customer service I’ve ever had, with quick responses and a friendly demeanour. He even inquired about my cat. I can’t emphasise this enough: if you get the chance, ask for Matt Sisk. He’s a ten out of ten – Ashley, a happy client.

During Open Enrollment, I had the pleasure of working with Jacob Katzfey. He directed me to the best policy for my circumstances. His professionalism and ability to explain all of the policy benefits made the process quick and easy. Thank you very much for all of your assistance.

Austin has been an absolute pleasure to work with. This was my first time receiving an individual plan, and he was extremely helpful throughout the entire process. Because I was so impressed with the high-quality service he provided me, I have already recommended him to many friends and family. Thank you so much, Austin, for all of your assistance and hard work.

Your one-stop shop for health insurance plans that meet your specific requirements.

According to statistics, approximately one-half of all Americans obtain their health insurance through their employer. Individual health insurance plans are likely the best option for those who do not. If you’re looking for information on individual health insurance plans, look no further; this is your one-stop shop for all of your requirements.

Health Maintenance Organizations (HMOs)

HMOs, provide you with a network of doctors, specialists, and other healthcare providers to whom you can turn for your medical needs. If you have an HMO, you must select a primary care physician to handle the majority of your medical needs. If you need to see a specialist, your primary care physician will refer you to a specialist in your network.

Exclusive Provider Organizations (EPOs)

EPOs will also provide you with a network of doctors, specialists, and other healthcare providers. Seeing an out-of-network doctor or specialist may not be covered depending on your plan. Your EPO may or may not require you to have a primary care physician, but none of them requires specialist referrals.

Preferred Provider Organizations (PPOs)

PPOs typically provide a broader network of care than EPOs or HMOs. The disadvantage is that they usually have higher premiums (and thus are more expensive) to compensate. PPOs, like EPOs, typically do not require you to have a primary care physician and do not require a referral to see a specialist. You can even see a specialist who is not in your network (albeit at a higher cost).

Point-of-Service Plans (POS)

POS plans are a cross between HMO and PPO plans. Although the care networks are smaller than in a PPO plan, the premiums are lower to compensate. You must have a primary care physician and obtain a referral from them to see a specialist. If you choose to see an out-of-network specialist, the cost will be higher, but not as high as if you had to pay entirely out of pocket.

When You Can and When You Can’t Get Health Insurance

It is up to you whether or not you can purchase health insurance at any time. You can normally only enrol during an Open Enrollment period, which for Marketplace health insurance is typically from November to December. However, if you have a qualifying life event, you can sign up at any time.

Qualifying Life Events

• Loss of Health Coverage: If you age out of your parent’s plan, lose your employer-based plan, no longer qualify for a student plan, or otherwise lose your current coverage.
• Change in Household: If a member of your family marries/divorces, adopts a child, or dies.
• Change in Residence: If you change the ZIP code, relocate to or from seasonal work or school, or relocate to or from a shelter or other temporary housing.
• Other Qualifying Events: If your income changes significantly, you become a federally recognised tribal member, you leave incarceration, and so on.

These are some of the most common qualifying life events, but not all of them. For a full list of qualifying life events, visit healthcare.gov. 

Open Enrollment

This is a time when people can buy health insurance without having to wait for a qualifying life event. This period will last from November 1st to January 15th, 2022.

Individual vs Group Coverage

Individual and group health insurance have many similarities, but there are some key differences.

If you get your health insurance through your employer, you have small-group coverage, also known as group insurance. In this case, you and your employer will split the cost of your premiums.

Individual coverage, or individual health insurance, is required if you are self-employed, unemployed, or have an employer that does not provide group coverage. Individual health insurance costs more per person than group health insurance. Individual coverage plans, on the other hand, allow you to shop around for plans with different coverage networks, in-network physicians, and more.

When your employer creates the plan design, the open enrollment periods for Group Coverage are determined. For example, group coverage beginning in June has an open enrollment period in May. Individuals have Open Enrollment during a specific time period. This year’s dates are November 1st through January 15th.

Handle Your Finances

Health insurance can be costly. If you’re concerned about debt, check out our Top 5 Tips for Avoiding Medical Debt. Alternatively, you can use our contact form to get in touch with an agent right away. Don’t wait; they might be able to help you pay less for better coverage.

Group Health Insurance Plans

If you own a business, you’ve probably considered whether you should provide group insurance to your employees. The majority of people understand how an individual health insurance plan works. Group health plans are similar to individual plans, but there are a few significant differences. Let’s look at some possibilities.

If your company has 2 to 50 employees, you can purchase group health insurance. Federal law does not require you to purchase insurance if you have fewer than 50 full-time equivalent employees. However, once you reach 50 FTE employees, you will be subject to a tax penalty of $3,860 per employee if you do not provide coverage.

If you decide to provide health insurance to your employees, there are some rules that must be followed. If you provide insurance to any full-time employees, you must also provide insurance to all full-time employees. The same is true for part-time workers. It makes no difference whether someone has a pre-existing condition, a known medical problem, or something else; you must provide the same coverage to EVERYONE with similar employment status.

Furthermore, dependents are covered under most group health plans. Spouses, children, adult dependents up to the age of 26, and occasionally unmarried domestic partners are included.

How Coverage and Premiums are Determined

Group plan coverage and premiums work a little differently than individual plan coverage and premiums. Because the same plan must be offered to the entire group, insurance providers cannot base their premiums on the health of individual group members. Instead, premiums are calculated based on the overall health of the coverage group.

Because the risk is spread across a large number of people, group health insurance premiums are generally lower and more affordable than individual plans.

Your Life Insurance Broker

Your Life Insurance Agent
If you are an adult with a family, you almost certainly have people who rely on your income to survive and thrive. What would happen to them if you died unexpectedly? Life insurance is a safety net designed to protect those who rely on you in the event of your untimely death. An insurer will guarantee that your dependents will receive a (typically large) sum of money if you die in exchange for a monthly premium. Life insurance is divided into two types, each with its own set of costs and risks: term life insurance and permanent life insurance.

Life Insurance Components

There are 3 main components of life insurance: death benefits, premiums, and cash values

• Death Benefit: The death benefit is the lump sum of money that the insurance company agrees to pay out to the policyholder’s beneficiaries in the event of the policyholder’s death. The amount paid is agreed upon when the policy is established and is determined by a number of factors, including the policyholder’s income and relationship with the beneficiaries. Because the death benefit is not taxable income, the beneficiaries will not have to pay taxes on it.
• Premiums: Premiums are the fees that a policyholder must pay in order to keep their policy active. Premiums are paid on a monthly or annual basis. If the policyholder maintains their policy and pays their premiums, the insurance provider is contractually obligated to pay the death benefit.
• Cash value: Some permanent life insurance policies permit the policyholder to use the death benefit as if it were a savings account. They can use it to secure a loan, borrow money from it, invest in it, and so on. The best part is that it is all tax deferred. This is referred to as a policy’s “cash value.” There are numerous advantages to purchasing a policy with a cash value. However, unlike the death benefit, the cash value is lost once the policyholder dies.

Term Life Insurance

 

Term life insurance is the most widely used type of life insurance, accounting for 71% of all policies sold. These policies are typically less expensive than permanent life insurance policies.

Term life insurance covers you for a set period of time, usually 10, 20, or 30 years. If the policyholder dies during that time period, the policy will pay out. If they do not, the policy will be terminated.

Within the term life bubble, there are a few different policy types:

• Renewable term: Renewable term life insurance is a term policy that offers the insured a short-term policy that is “revisited” after the term expires. If a person has a 5-year renewable term policy, they will be quoted a premium price for the next 5 years. After five years, the insurance company and the policyholder will review the policy and decide on a new premium rate.
• Decreasing term: A type of renewable life insurance in which coverage decreases at a predetermined rate over the course of a lifetime.
• Convertible term: A term life insurance policy that allows the policyholder to convert the policy to a permanent life insurance policy at the end of the term.

Permanent Life Insurance

Permanent life insurance is, well, permanent. It is valid for the policyholder’s entire life as long as the monthly premiums are paid. The premiums are determined at the start of the policy and are based on the insured’s current health and age. There are several policies that fall under the category of “permanent life insurance”:

• Whole Life: A policy that provides lifetime coverage and some cash value, allowing the insured to withdraw funds or borrow against the policy.

• Universal Life: Unlike other life insurance policies, it allows for flexible premiums. Typically provides monetary value and may be linked to the stock market or another investment. There are, however, restrictions on how much the policyholder can gain or lose.
• Variable Universal Life: It, unlike other types of life insurance policies, allows for variable premiums. Usually has monetary value and is related to the stock market or another investment. However, there are limits to how much the policyholder can gain or lose.