30 Second Insurance Tips©

Tip 263- SOS for OOP

Business owners who offer health insurance coverage to their employees often are frustrated by the feedback they get. These examples might ring a bell:

  • “I had the misfortune of getting sick around Christmas. Follow up care was needed in January. With calendar year deductibles, I ended up paying over $6,000; more than half the charges. What kind of insurance is that?!”
  • “My cancer treatment includes medicines and certain procedures our insurer won’t cover because they’re considered experimental. What am I going to do?”
    The Affordable Care Act sets annual limits for health insurance Out Of Pocket (OOP) expenses. In 2016, they are $6,850 for an individual; double that ($13,700) for a family.

I’m sorry. That’s just not “affordable” for many of us.

Fortunately, there are ways to mitigate these expenses. Those solutions are more than we can cover in 30 seconds, so we’ve prepared a White Paper entitled ‘An Employers Guide to Restructuring and Optimizing Benefits Spending.’

Care to review it? Send an email with “SOS for OOP” in the subject line and we’ll gladly get a copy into your hands.