Couples and Families
Health Insurance Solutions for Individuals
Personal Care Physician solution to the rising cost of health care and high-deductible insurance coverage plan with an HRA (Health Reimbursement Arrangement) that will allow you to reduce the monthly expense of your insurance plan while getting direct, primary preventative wellness care from Concierge Physician Associates.
High Deductible Insurance Plans
A deductible, in insurance terms, is the amount you must pay for health care before payments from the insurance company begin. After the deductible is met, insurance companies typically pay 50 to 80 percent of covered expenses up to certain annual limits, depending on the plan.In general, the higher the deductible, the lower the monthly premium. You will save a substantial amount in premiums, in exchange for paying more in out-of-pocket costs before insurance coverage begins, including expenses for routine primary and preventive care.
Health Savings Account
One way to ensure that you are able to meet the increased out-of-pocket expenses associated with a high deductible health insurance plan is to set money aside each month in a readily accessible tax-free savings account. Thanks to recent federal legislation, a Health Savings Account is a new option that is growing in popularity for this purpose. Certain “qualified” high deductible insurance plans allow you to open a health savings account and make tax-exempt contributions that can be used for medical expenses not covered by your insurance. Several insurance carriers in Texas State offer HSA qualified individual insurance plans at competitive rates.
Personal Care Physician
Another way to ease the transition to a high deductible insurance plan is to join Personal Care Physician. The combination of Personal Care Physician plus high deductible insurance leverages the best characteristics of both types of health care coverage: the better access, exceptional service and low prices that are the hallmark of direct primary care plus the affordable coverage provided by high-deductible insurance.
Personal Care Physician accepts registration forms on a rolling basis which means that you can join the practice at any time. However, health insurance carriers typically require their forms to be submitted by a specific day of the month in order to start coverage the 1st day of the following month. For any given insurance carrier, plan prices are fixed by law so you will get the same price no matter where you shop. Sales commissions for insurance plans are built into the monthly premium and paid by the carrier so there is no cost to you for consulting with an insurance broker.
If you are providing health care coverage for your employees you may benefit from offering an HRA, or Health Reimbursement Arrangement. This will allow you to self-insure your employees deductibles and primary care with a low-cost, high-deductible health plan (HDHP). HRA’s have been shown to significantly reduce employer costs and improve employees access to primary care.
Employers who cannot provide health insurance due to expense or the status of part-time or temporary employees, but would like to assist them with their healthcare expenses may choose to offer an HRA. An HRA is employer funded and reimburses medical expenses incurred by employees up to a specified dollar amount. HRA’s typically cost $300 to set-up and $150 per year to maintain after the first year. There is usually a $10 to $15 monthly fee per employee for a third-party administrator to manage the account.
Employers seeking to assist their employees in providing cost-effective care may choose to introduce Concierge Physician Associates as a resource for care. There is no actual or implied employer sponsorship of Concierge Physician Associates.
Personal Care Physician is not an insurance broker nor do we solicit insurance business but we have some great cost savings ideas that may help you get more health care for less money.
Please Note: Personal Care Physician is not an insurance broker. We do not solicit insurance business. The recommendations and opinions expressed on this website are those of Personal Care Physician and not necessarily those of any third party, including insurance brokers.
Personal Care Physician has been advised that our views regarding the use of various tax-favored plans are essentially correct. We do not offer medical related tax advice. We recommend that you consult your tax accountant regarding the tax-favored plans associated with payments made to Personal Care Physician.