Choosing the best healthcare plans for real estate agents vary greatly depending on a number of factors, including the agent’s age, health, and income. However, some of the most popular health insurance plans for real estate agents include:
- High-deductible health plans (HDHPs): HDHPs typically have lower monthly premiums than other types of health insurance plans, but they also have higher deductibles. A deductible is the amount of money you have to pay out of pocket before your health insurance plan starts to cover your medical expenses. If you’re healthy and don’t expect to have a lot of medical expenses, an HDHP may be a good option for you.
- Health savings accounts (HSAs): HSAs are tax-advantaged accounts that you can use to save money for qualified medical expenses. If you have an HDHP, you may be eligible to contribute to an HSA. Contributions to an HSA are tax-deductible, and withdrawals from an HSA are tax-free if they are used for qualified medical expenses.
- Preferred provider organizations (PPOs): PPOs are a type of health insurance plan that offers a network of doctors and hospitals to choose from. You typically have to pay less for care if you see a doctor or go to a hospital in your network. PPOs typically have lower deductibles than HDHPs, but they also have higher monthly premiums. A PPO plan may be a good choice if you already have health concerns and expect to frequently visit doctors and hospitals.
- Point-of-service (POS) plans: POS plans are a hybrid of PPOs and HMO plans. You have a network of doctors and hospitals to choose from, but you can also see doctors and go to hospitals outside of your network for a higher copay or coinsurance. POS plans typically have higher premiums than HMO plans, but lower deductibles than PPO plans.
- Health maintenance organizations (HMOs): HMOs are a type of health insurance plan that requires you to see a primary care doctor for all of your medical needs. Your primary care doctor will then refer you to specialists if necessary. HMOs typically have the lowest monthly premiums, but they also have the highest deductibles. HMOs often have lower prices but offer fewer choices for medical care than other plans.
When choosing a health insurance plan, it’s important to consider your individual needs and budget. Be sure to compare plans from different insurers to find the best deal for you.
How do you save money on professional services? I love to hear agent feedback, and I would be happy to post your ideas (and give you the credit) in our next article. Just send an email to Robert@TheThriftyAgent.com.