“Nowadays if you get sick and are admitted for One day in the hospital you just paid out enough money to buy a new car, if you stay a week you paid out enough to buy a house, and if you stay any longer you’re probably going to file bankruptcy” —AC Thomas III

Words of wisdom form our founder here at Thomas & Associates after being around for over 45 years helping individuals and families, the self-employed, and family owned businesses with Health Insurance needs.

A big ball of wax that’s what healthcare insurance is – so big and unwieldy that most people just want to put it on the back burner, but that would be a mistake, for you personally, for your family, and for your business. So, think about it the well-being of you, your family and business depend on it.

Health Insurance has its own language, it’s complicated, can be difficult to navigate, which makes it easy to choose the wrong plan for your budget and needs. Here at Thomas & Associates we recommend that you contact a health insurance broker like us to help you choose the right plan and avoid the pitfalls. With Thomas & Associates there is never a charge for our services.

Here are three questions that we recommend everyone ask and get answered correctly;

  • What does the plan cover?
    • There are ten (10) essential health benefits that all health insurance plans must cover to be considered a qualified health plan (QHP) if it’s not you will be assessed a tax penalty when you file your taxes, so ALWAYS ask for a Summary of Benefits if you aren’t provided one don’t buy from that person or agency.
  • How much does the plan cost?
    • This is made up of two parts;
      • 1. The monthly premium you pay
      • 2. The out-of-pocket expenses like annual deductibles, co-insurance percentage, and co-pays.
    • Number 2 in plain English:
      • The Higher the monthly premium you pay the less you pay when you go to the doctor or hospital for medical care.
      • The Lower the monthly premium you pay the more you will pay when you go to the doctor or hospital for medical care.
  • Which Doctors and Hospitals are in it?
    • All Qualified Health Plans (QHP) does not matter if they are an HMO, PPO, or EPO have a network of laboratories, hospitals, doctors, imaging centers, and pharmacies. Using a broker like Thomas & Associates ensures that you know before you buy your health insurance plan that your current doctors are in the network.