Individual And Family Health Insurance For Real Estate Agents In Texas
As a real estate agent with a family in Texas, you need the absolute best health insurance coverage available. At Paschall Health Insurance, we know the right health insurance plan for your specific needs as a realtor must offer all the premium benefits possible without the premium pricing. Thats why our family health insurance plans for real estate agents in Texas come with zero out-of-network feeds, enabling you and your family to choose the right doctors without being penalized. Youll never need a referral to see a specialist, saving your family time and money while reducing stress.
Were committed to doing health insurance the right way for real estate agents and their families in Texas. From our affordable monthly premiums to zero annual deductibles and reasonable co-pays, our health insurance packages for families of real estate agents in Texas is designed to meet your specific needs, every time.
Real Estate Industry Makes Strides Toward Increasing Health Insurance Accessibility
For real estate professionals, health insurance can be a source of frustration. Often costly and with hefty restrictions for more affordable options, comprehensive health benefits are not easily accessible for todays self-employed population. Thats why the National Association of REALTORS® a founding member of the Coalition to Promote and Protect Association Health Plansand other industry groups have been lobbying in support of the Department of Labors Association Health Plan rule. In addition, multiple brokerages have recently made strides in offering their own benefits.
Were encouraged to see so many associations from across the country demonstrate their public support of association health plans, said NAR President John Smaby, a second-generation REALTOR® and broker at Edina Realty in Edina, Minn., in a recent statement. The DOLs rule opens the door for REALTORS® to access affordable, high-quality healthcare options that can be so difficult for independent contractors to find. Moving forward, were hopeful that our work alongside these local partners will help secure the healthcare solutions that our members and their families deserve.
In addition, JP & Associates REALTORS® began offering both healthcare and retirement options this past February.
Keller Williams offers its agents discounted benefits through the KW Wellness Program, which partners with Stride Health. These benefits include tax assistance, dental, vision, health, life and accident options.
Enroll In Qualified Health Plans Certified By The Health Insurance Marketplace During Open Enrollment Periods
The federal government creates an open enrollment period where you may change your health insurance without a qualifying event. An example event is acquiring new health insurance if you were to become employed. This is when Rideshare drivers may drop their current insurance and find new major medical policies.
The certified health plans offered on the marketplace are required to provide essential health benefits, cover pre-existing conditions. These traditional health plans have limits on deductibles, copayments and out-of-pocket maximum amounts. These are policies that are similar to employer-sponsored insurance. These same policies can be found on private exchanges, like Smart and Simple Insurance.
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Short Term Disability Insurance For Real Estate Agents In Texas
Even real estate agents in Texas rarely have the right amount of money stored away to cover their expenses for several months in case of emergency. In the case of serious injury, you may find yourself forced to dip into your retirement or taking undesirable routes to afford your familys monthly bills. Thats why short term disability insurance for real estate agents in Texas is your best solution. At Paschall Health Insurance, we provide short term disability coverage for real estate agents that can cover monthly expenses like groceries, utility bills, and gasoline for up to two years if necessary. We also provide unbelievable, affordable rates for this invaluable coverage.
Health Insurance For Real Estate Agents Shouldnt Be A Headache
At the end of they day, finding an affordable, comprehensive plan shouldnât be a painstaking experience. While scouring exchanges for good deals and running the numbers on subsidies may be overwhelming, there are alternative options available that make it easy for real estate agents to get insurance.
According to recent data, the average lowest cost silver premium was $422 in 2019. However, between out-of-pocket costs, higher co-pays for primary care visits, and confusing co-insurance costs, many people are not getting the full benefits they need at reasonable rates.
Through A Family Member
If your spouse is employed and has access to health benefits, you can purchase a plan together for a combined policy. This is a common option to choose if you happened to be married and are seeking the most affordable option for you and your family. Joining your spouses policy can alleviate the stress of searching for an affordable healthcare plan as an independent contractor, giving you more time to focus on the job rather than worry about insurance plans.
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 .
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Type Of Benefits You Should Look Into
Health insurance Covers medical expenses such as prescription drugs and extended health benefits. Depending on the plan you enroll, there could be an annual limit on the amount you could claim. Also, there could be co-insurance such that you are required to pay a portion of the expense for every claim.
Vision care Provides coverage on optometrist exam, prescription glasses. There could be a maximum limit per year or bi-annually.
Dental care It covers cleansing, root canal, other dental related expenses. In addition to the annual maximum, there could be a specific limit on each item.
Disability insurance Since you are the money maker, if you were unable to work due to a disability, then your income stream could be interrupted. This coverage could protect your income in the case of disability. But keep in mind, different policies could have its own precise definition of disability, coverage amount and benefits period.
Life insurance It pays out a lump sum of death benefits to your beneficiary should you pass away.
Look For Open Enrollment Options
With the Affordable Care Act, real estate agents have just over a one month window to enroll in or change healthcare plans, starting in November. Outside of this open enrollment window, real estate agents may be able to enroll or change plans in the following special cases:
- During a special enrollment period because of a qualifying life event
- Via a short-term medical plan
- Through Medicaid or the Childrenâs Health Insurance Program
Fortunately, alternative insurers are now open year-round open enrollment. Plans offered by these insurers give you the flexibility they need to choose the best, most cost-effective plan for your individual needs.
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Consider All Of Your Health Insurance Options
There are several ways to purchase health insurance. When you shop at Healthcare.gov, youre only seeing on-exchange plans. However, insurance companies only make a fraction of their plans available on exchange.” If you go directly to an insurance companys website, youll see their off-exchange plans. There are also private exchanges, co-ops, and even faith-based medical sharing plans that function similar to insurance. At Take Command Health, we can help you quickly see ALL of your options.
Special Note: You may get approached by aggressive brokers that want to sell you short-term medical insurance or indemnity plans. They will sound too good to be true, and they are. Short-term medical plans are affordable and do a decent job of protecting you from injury and illness. They are terrible for pre-existing conditions or routine care. So why not string together a series of short-term plans like some brokers recommend? Well, short-term plans dont count as insurance. Yes, you get a lower premium, but then youll get hit with some hefty tax penalties when you file your taxes. Only use short-term plans for three months or less if you have a unique situation. Never never never buy an indemnity plan and run from whoever is selling it to you. Indemnity = pure snake oil.
State And Local Associations
NAR does not have an AHP, but several states and local associations have moved forward with their own, nonetheless.
Some associations like the California Association of Realtors have offered healthcare options for some time, but not with the same leverage that would be possible with an AHP.
If you are pondering health insurance options, it may be worthwhile to check in with your local association to see what the latest is.
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Does Each Person Pay His Or Her Own Premium
Firms are required to pay a minimum of 50% contribution for W2/enrolled common law employees. For realtors/independent contractors there is no firm contribution requirement. QVI Risk Solutions has been contracted to collect premiums from both the firms and enrolling realtors/contracted enrollees. This is through ACH transfer for realtors, and a firm ACH/EFT transfer for the W2/common law employees. The cost is $6.50 per person per month.
How Much Does Health Insurance Cost For Real Estate Agents
The cost of health insurance for real estate agents can vary widely, just as they can for people in other occupations. Generally, people who are able to go on their spouses health insurance have the lowest premiums.
People who get insurance through their agencies usually have affordable health insurance as well. Those that have to buy a private health insurance policy have higher costs on average, but good deals can be found if you do your research when comparing health insurance quotes online.
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For Younger Real Estate Agents
If youre under 30, you may qualify for a catastrophic plan, which will have very high deductibles in exchange for low premiums. These plans offer the basic essential health benefits and cover three primary care visits per year. Individuals who have a hardship exemption may also be able to qualify for one of these plans.
If youre under 26, you can get health insurance coverage through your parents. This is true even if you can afford a plan on your own, are married, are a parent, live independently, and/or are offered health insurance by your employer.
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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Make Decisions Based On Predictable Costs
Shopping for health insurance can be overwhelming. Many people try to game the system and factor in multiple variables and unknowns. The bottom line is that no one can predict with 100% accuracy what will happen in a year. That said, you can make some highly educated guesses based on your current medical history and predictable health care costs. For example, you probably have a pretty good idea about what prescriptions youâll need, doctor visits, necessary medical equipment, therapy needs, and other specialist care. If youâre young and healthy, you may plan on needing just one or two of these services in a year. According to statistics, 75% of your costs will be made up of these predictable items in a given year.
On the other hand, unpredictable health care needs pop up. You may catch the flu, sprain your wrist, or need to be hospitalized. These may make up the other 25% of costs. When you look at it in this light, it makes sense to choose a plan based on your predictable costs, which will make up the bulk of your health care needs. It also removes the stressful guesswork in choosing a plan thatâs right for you. If youâre still feeling stressed about these unpredictables, consider the maximum out-of-pocket costs when choosing a plan. Even if something catastrophic occurs, you will only ever pay this amount.
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.
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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?
Options Available For Health Insurance For Real Estate Agents Through The Aca And Other Means
Finding affordable health insurance is a challenge for many self-employed agents like Cloud. Some buy into health insurance through their brokerage, such as Keller Williams, a family members plan, or the professional organization, National Association of REALTORS©. Others turn to the Affordable Care Act , which provides health coverage for those with a low to moderate incomes.
Although the ACA may have helped many self-employed agents find health insurance, rising health insurance rates and tighter restrictions on federal tax credits may force agents to forgo or delay medical care for themselves and their families to control costs, the NAR reports. There are also tax penalties for not having a qualified health plan in 2017, although those are set to be waived in 2019.
Newcomers to the real estate business who are inclined to let the high cost of health insurance deter them should know that there is good news. The percent of uninsured NAR members have been falling in recent years since ACA reforms, health exchanges, and premium tax credits began. Only 20 percent of NAR members were uninsured in 2016 compared to 36 percent in 2012 before ACA underwriting reforms and health exchanges went into effect, NAR reports.
NAR continues to advocate for health care reforms for the self-employed and small employers. Among its legislative proposals is to allow bona fide trade associations to offer association health plans to its members.
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