Health Insurance

Why do I need it?

While nobody plans to get sick or have an accident, unfortunately life is full of unexpected events that force us to seek medical advice and treatment. When these situations arise, your best financial defense is to have adequate health insurance.

Having health insurance can be compared to wearing a seat belt while you're driving. We all know seat belts can save lives, but only if you're buckled up before an accident occurs! The same concept applies with health insurance, in that you should be adequately covered before a need arises for costly medical care.

Health insurance, whether it's a group plan, individual or family plan, or a government-sponsored program, can help assure you won't be wiped out financially due to an unexpected event nor have to rely on an emergency room for medical treatment.

Please review the pages below to learn more about health insurance programs and how you are impacted by the 2010 health care reform legislation known as the ACA (Affordable Care Act). If you would like specific information on individual health insurance plans, please Request a Custom Quote.

When first implemented in 2014, the ACA mandated having health insurance with EHB (Essential Health Benefits) or otherwise pay a penalty based on income.

In 2017, President Donald Trump signed the Tax Cuts and Jobs Act which repealed the tax penalty mandate. Therefore, ACA tax penalties are no longer in effect on a federal level as of 2019 and onwards. However, several jurisdictions still mandate tax penalties for not having health insurance, including California, the District of Columbia, Massachusetts, New Jersey, and Rhode Island. Vermont is also among the states with an individual mandate, but unlike the other states, Vermont does not impose a financial penalty for not having coverage.

• What is Traditional vs. Managed Care?
• Types of Major Medical Health Insurance
• What is a Health Savings Account (HSA)?
• Guaranteed-Issue Health Plans Including "COBRA" and "Mini-COBRA"
• How Will I Be Impacted By 2010 Health Care Reform Legislation?