Benefits Do Impact Happiness
Research suggests that benefits can have a significant impact not only on health and physical well-being, but on life satisfaction as well.
A late 2018 study from the IZA Institute of Labor Economics a German research firm looked, for example, at reforms to Massachusetts healthcare system that were designed to provide coverage to more people . The researchers ultimately concluded that those reforms significantly improved Massachusetts residents overall life-satisfaction.
That study also found that Massachusetts healthcare reforms improved residents mental health.
Similarly, a 2017 study from researchers at California State University, Sacramento, found that individuals without health insurance coverage were less likely to be very satisfied or satisfied with life.
None of this research was looking specifically at real estate, but NARs survey suggests a degree of ambivalence among agents about the current state of healthcare in the U.S. For example, when NAR asked Realtors if their benefits plan covers everything they want, 83 percent of respondents said either yes, most definitely or yes, to a degree.
Most agents, in other words, seem to be getting the things they want out of their healthcare. Which is great.
But when NAR asked how agents actually feel about their premiums, a total of 49 percent replied that to some degree it was too expensive.
Respondents provided similar feedback about their deductibles and co-pays.
How To Take Advantage Of Exp Realty Health Insurance Plan Options
If you are an eXp Realty agent and want to take advantage of the health plans offered through this partnership, all you need to do is ask. Your work as a Realtor does not limit you from enjoying affordable healthcare coverage, as long as you are an eXp Realty agent.
If you are not an eXp Realty agent but wish to take advantage of these health insurance options, start with getting your sponsorship and going through the onboarding process. Once you are an agent, you can shop eXps affordable health insurance. Youll be able to enjoy significant savings over the plans available in the Marketplace.
Even though agents work as independent contractors, they still need insurance for themselves and their families. Choosing eXp Realty Health Insurance plans makes that possible. You can save over $10,000 a year on your healthcare costs by becoming an eXp agent and enrolling in one of these health plans.
Keller Williams Real Estate Agent Health Insurance
Partnering with MyFranchise Association and H & H Employee Benefits, the includes options for major medical, limited medical, catastrophic coverage and a separate cancer plan. With these plans in place, the next step is a total wellness program for all associates.
We have always been very aware that as independent contractors, our associates face barriers to obtaining real estate agent health insurance, said Mary Tennant, president and COO of Keller Williams Realty. We know that for many, this new option may alleviate some of the stress that they face in todays economy. After all, our associates are not just our partners they are our family.
The benefits of becoming a Keller Williams agent go on and on real estate agent health insurance is just one of them. Take advantage of all KW has to offer your real estate career and your well being by contacting us today!
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Best For Wellness Care: Molina Healthcare
Moodys Investors Service recently upgraded its credit ratings, and the wellness and preventive care services are excellent.
Limited coverage territory
Molina Healthcare serves 17 states, but only offers private health insurance to residents in California, Florida, Michigan, Mississippi, New Mexico, Ohio, South Carolina, Texas, Utah, Washington, and Wisconsin. It insures more than 4.6 million members across the United States. Coverage options, plan choices, and benefits vary by state. Many of its health plans come with low co-pays and cover essential medical care such as prenatal, emergency services, hospital care, vaccinations, lab tests/x-rays, prescription drugs, doctors visits, and vision insurance.
Molina has some excellent perks, wellness care, and preventive health care services for its health insurance members including adult immunizations, adult preventive services, child and adolescent immunizations, pediatric preventive health care, prenatal and postnatal care.
Getting A Second Opinion
It is always a good idea to get a second opinion from an independent insurance broker. They are impartial and they may be able to connect you to other group insurance plans. At a minimum, you will know if the insurance plan you choose is the right one for you.
You can read more in our recent article, Top 5 Benefits of Using Local Health Insurance Agents.
Statements on this website as to policies and coverage’s and other content provide general information only and we provide no warranty as to their accuracy. Clients should consult with their licensed agent as to how these coverage’s pertain to their individual situation. Any hypertext links to other sites or vendors are provided as a convenience only. We have no control over those sites or vendors and cannot, therefore, endorse nor guarantee the accuracy of any information provided by those sites or the services provided by those vendors.
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Best For Health Savings Plan Options: Kaiser Permanente
Kaiser Permanente was the top performer in California, Colorado, and the Northwest and South Atlantic regions, according to the 2021 J.D. Power & Associates Commercial Member Health Plan Study. Kaiser Permanente is ranked the number one overall health insurer on Insure.com. In the study, 49% of people surveyed said they would definitely recommend it, and an additional 38% said they would probably recommend it. Also, 90% of customers plan to renew their policies.
Variety of health plans available
Limited coverage areas
Kaiser Permanente is a trusted name in health insurance. It offers medical care through its managed care organization and network of Kaiser Foundation hospitals and medical centers. It has won numerous customer service awards from J.D. Power & Associates.
Kaiser Permanente offers private health insurance to residents of California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and Washington D.C. Its network includes more than 23,000 participating physicians.
If you live in one of Kaiser Permanentes coverage areas, you have access to several plan options, including bronze, silver, gold, and platinum plans. Bronze and silver plans offer the option to add a health savings account .
The HSA options through Kaiser Permanente are available for high-deductible plans. The contributions are tax-free and can be used to help pay for qualifying expenses, including:
How Much Does Health Insurance Cost
Health insurance plans can vary greatly in cost based on factors such as your health, your geographic region, the amount of your deductible, and copay requirements. Its a good idea to compare the total costs and benefits of the plan and not just look at the premium.
Policies with lower deductibles generally allow you to pay less upfront, but youll pay a higher monthly premium in exchange for that. Youre effectively paying more on a monthly basis rather than all at once through a deductible when you need care. You might also be responsible for a co-pay, a fixed percentage of the balance remaining after youve paid your deductible. You and the insurance company are sharing the costs.
Health insurance you might receive through your employer is typically cheaper than purchasing a policy on your own.
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How Does The Participation Requirement And Waivers Work
Seventy-five percent participation is required for eligible employees/realtors for each firm within the association. Valid waivers do not count against participation and include other group coverage, Medicare, VA/Tricare and Indian Health Services. Waivers must include the name of the waiving employee/realtor on the front of the form, and the waiver section on the back of the form .
Are Health Insurance Premiums Tax
Health insurance premiums may only be deducted if total medical expenses exceed 7.5% of your adjusted gross income in a year.
Taxpayers must also itemize their deductions if they want to deduct their health-related expenses. The Tax Cuts and Jobs Act of 2017 increased the standard deduction significantly, so itemizing makes less sense for most taxpayers.
Self-employed individuals who do not qualify for employer-sponsored health insurance may deduct premiums on their taxes without itemizing.
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Group Health Insurance For Real Estate Agencies In Texas
As a real estate firm in Texas, you may not know how to provide the best possible benefits when it comes to health insurance. Thats why providing them with access to the exceptional health insurance plans for real estate agents in Texas offered by Paschall Health Insurance is the way to go.
We provide top-notch group health insurance packages for real estate agencies in Texas. These plans include freedoms to see any doctors your realtors prefer without out-of-network fees, along with the ability to see specialists without referrals from primary care providers. The Paschall Health Insurance team is committed to offering industry-leading group health plans for real estate agents in Texas at a price that suits your agencys budget.
The Real Estate Agent Health Insurance Guide
Hip-pocket: You’re a pro at selling homes and closing deals, but there’s this one lingering thing each year you feel a little uneasy about–choosing a health plan. Your firm helps with many things, but not this. You look to into getting onto your spouses plan but it’s too expensive. Your corporate friends complain about health insurance, but they don’t really know what it’s like to be totally on their own.
The reality is shopping on the individual market can be overwhelming:
Am I getting the coverage my family needs? Will my doctor I’ve seen for 20 years take my new insurance? What about my prescriptions? Am I getting sold something I dont really need or am I missing something I desperately do?
At Take Command Health, our job is to empower you to make smart health insurance decisions and make your busy life a little easier. A smart decision not only gives you peace of mind, itll also save you money. Research shows more than 85% of people shopping on their own choose the wrong health plan each year, costing more than $500 in unnecessary health expenses.
Let’s do it. Let’s find an awesome plan this Open Enrollment with no head-aches that has exactly what you need. We created this guide and 7 simple health insurance shopping rules to arm you with the inside information you need to make a smart decision for you and your family.
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Who Is Exp Realty
eXp Realty is a large real estate brokerage firm that serves the entire United States. The companys agents currently number over 65,000 and even include agents in Canada, Mexico, and 15 other countries.
Healthcare coverage is not the only thing offered by eXp Realty. The brokerage also offers its agents retirement benefits, including eXp World Holdings stock options. Agents also contribute to the overall company growth and earn stock as a reward when they do.
What If I Own A Real Estate Agency That Is Considered A Small Business
If you own a small business, you might be able to purchase your insurance plan through the Small Business Health Options Program. This program helps you provide health insurance to your employees if you have 50 or fewer full-time equivalent employees. There is no open enrollment period for this program.
You can give your employees the opportunity to choose from multiple plans and choose how much money to contribute to their coverage. You can use a private broker to navigate this program or do it online.
If you employ less than 25 people, you might qualify for the SHOP tax credit which can be worth up to 50 percent of the monthly premium costs.
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Group Health Plans Provide Cost Savings To Members
NAR also offers affordable options to members through the . The e-commerce site gives members access to health insurance through a private health insurance exchange that meets ACA standards. It also offers an alternative group health plan along with group dental and vision insurance.
Looking for a career change?
A qualified PPO plan with a $6,650 deductible combined with a $6,000 accident protection plan, for example, would save about $200 a month over a PPO plan with a $3,500 deductible.
The marketplace also offers Medicare supplements, a free pharmacy discount card, and access to telehealth services.
NAR members are not the only ones receiving the benefits of group health insurance rates. Keller Williams is among the firms that also offer health care options to its associates through its KW Wellness program so that they meet ACA requirements and avoid tax penalties for not having the insurance.
Baltimore agent Jeff Miller knows of small business networking groups that have united to approach insurance companies about less expensive group plans. He cites examples of an alumni association, AAA auto club, and a religious group that allow members to buy group health insurance.
Cost-effective health insurance for Realtors is all about seeking group insurance policies. Everyone typically has at least one organization that they will qualify for, he says.
National Association Of Realtors Options
One place to visit if you are a member of the NATIONAL ASSOCIATION of REALTORSÂ® is the REALTORSÂ® Insurance Marketplace. This shopping site/exchange provides NAR members with a variety of health insurance options, including:
- Qualified Health Plans that meet the mandates of the Affordable Care Act through major insurance carriers
- Supplemental Medicare insurance options for Medicare-eligible NAR members
- Short Term Insurance ranging from 30 days to 6 months that can serve as coverage to avoid gaps between long-term policies.
- Members TeleHealth programs where members can gain telephone, smartphone app, web chat, or email access to licensed physicians for non-emergency diagnosis and treatment.
- Members Supplemental Health Plans that can be combined with other major medical health insurance plans to provide financial aid for out-of-pocket expenses and other services that traditional insurance might not cover.
- REALTORSÂ® Dental Insurance that provides coverage for dental expenses exclusively for NAR members and their families.
- REALTORSÂ® Vision Insurance that provides a PPO and non-PPO option for NAR members and their families.
Why Health Insurance Is So Hard For Realtors
Are you a realtor or real estate investor looking for the best health insurance for your business?
I have a lot of clients who are real estate agents. I know how incredibly busy you are, forever driving around, showing estates and properties to prospective clients, always at your prospects beck and call. Its an extremely tough job, especially in a market that has such high competition. I understand, I really do.
So I wont waste your time. Ill get straight to the point.
If youre a professional real estate agent or investor, one who has been in the game for long, then you probably already have several closes under your belt. Or, if youre just starting, fanatically prospecting, youre striving for those first few closes. Regardless of whether youre new or seasoned, two things are certain about being a realtor:
What does that mean for your health insurance?
Health insurance is already complicated, more so for self-employed realtors with fluctuating income. As a real estate agent or investor, your income goes up and down. Sometimes, you cant even estimate your income for tax purposes until after the year is up. Yeah, those peaks are great, but its the troughs that can be really tough!
Which type of health insurance plan is good for you?
Do Real Estate Agents Get Benefits At Redfin
Redfins real estate agents are considered employees, so theyre eligible to participate in employee-sponsored benefit programs including medical, dental and vision plans for themselves and their families. Redfin agents receive benefits like paid vacation and parental leave, and disability insurance. They can enroll in a 401 retirement plan, health care and dependent care flexible savings accounts, employee stock purchase plan, and coverage for fertility treatments.
Redfin Agents are also paid a salary plus bonuses for every home purchase or sale they close. Redfin covers the traditional costs of doing business including training and continued education, mileage and mobile phone service, license renewal fees and association fees, listing materials, and more.
Obtaining an affordable health care plan shouldnt be a hassle. Be sure to review all your options and choose the route thats best for you.
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Don’t Buy Based On Fear Of The Unknown
Many people get overwhelmed trying to shop for health insurance because they feel like predicting the future is impossible:
How do I know what will happen to me this year?
What if I get really sick or injured?
You don’t have to predict the future, just stick with what you already know. Statistically, over 75% of your costs in the next year are predictable based on your known needs. In that case, what really drives costs, and therefore your plan choice, are the things you know about: prescriptions, doctors visits, therapy, medical equipment, etc. If youre healthy, maybe you plan on none of these thingswhich is just as important to know.
At Take Command Health, you can quickly search for your prescriptions or tell us about any health needs you are managing such as physical therapy or having a baby. Well run all the numbers for you and help you estimate your out-of-pocket costs on each plan.
But what about if someone in my family gets seriously hurt or injured? Applying some more data science, in a given year you have < 1% chance of experiencing a “catastrophic” accident or illness. Also, it doesn’t really matter much , because if you get a large hospital bill, you’ll end up paying your plan’s max-out-of-pocket limit and then no more:
Lets say you have a bad year and rack up a $200,000 hospital bill. The only number you should care about is your plans max-out-of-pocket limit. Your total spend for that year would be premiums * 12 + max-out-of-pocket.