Karing Is Mutual LLC is a one-stop-shopping insurance brokerage agency with licensed professional dedicated brokers who are committed to providing our client’s with health and life coverage from birth to expiration.
Many financial advisors will tell you some unforeseen events and a lack of the right kind of insurance coverage can spell financial trouble quickly. Please contact us today and let us analyze your health and life needs and get you, your family or your New Jersey business employees covered quickly at an affordable premium.
 Dental coverage is whatever type of dental treatment that is required to either maintain your dental health, or to restore your dental condition to be as close to a dental youth or dental adult, as possible. |
 Health coverage is a type of insurance coverage that typically pays for medical, surgical, prescription drug and sometimes dental expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. |
| Health Maintenance Organization (HMO) Plans: An HMO plan means that you have to use a participating provider, whether it is a doctor, hospital, lab or x-ray facility. Most doctors and hospitals participate with the major insurance companies. Some HMO’s provide open access freedom to go to a network specialist without obtaining a referral from your primary care provider. |
| Point Of Service (POS) Plans: A POS in network plan works the same as an HMO plan, however, this plan has an out of network benefit. You can utilize providers regardless if they are in the insurance company’s network. When utilizing out of network benefits you will have more out of pocket exposure (deductible and coinsurance). You can also receive additional billing from an out of network provider after the insurance company pays the provider based on usual and customary fees. This is the charge that most of the doctors in the geographical area would charge for the same services. Not all POS plans have a referral component. |
| High Deductible, Consumer Directed Health Plans, Health Savings Accounts (HSA) & Health Reimbursement Accounts (HRA): These plans are growing in popularity. The policy holder has a high deductible i.e. $1,500, $2,000 or $2,500. A family deductible is double the individuals to $3,000, $4,000, or $5,000. Well visits are covered under the deductible. A member must pay all medical bills including prescriptions until the annual deductible is met. Once the deductible is met then the co-pays begin, or the member may have 100% coverage. High Deductible health insurance plans could a company with substantial savings on their health premiums. |
| Health Savings Accounts (HSA): These could be set up with a bank that would allow tax deferred savings similar to an IRA account. The money in this account should be used for medical expenses such as deductible charges, co-pays, dental, and dental and eye glass or contact expenses. The limit to be deposited change yearly for an individuals and families. If the money is not spent each year it will roll over to the next year. |
| Health Reimbursement Accounts (HRA): An employer has the option to provide some coverage on medical claims under the deductible. Example, they will have a $5,000 family deductible. The employer may want to cover the first $1,000 on the deductible. The employer may use an outside third party administer to manage this $1,000 benefit. This outside third party administer takes the employer out of the responsibility of paying claims and managing the allocated amount ($1,000 benefit). This is essentially a form of self-insuring that could save a company with substantial savings on their health premiums. |
| Self-funding: otherwise known as self-insured insurance, is a plan in which the employer takes on the financial risk of providing certain healthcare benefits to their employees. With self-funding insurance, companies pay for healthcare expenses out-of-pocket as they are received. |
 Life insurance! pays out a sum of money either on the death of the insured person or after a set period. |
 Prescription drug coverage describes the way your plan pays for prescription medications that you need. All most all, health insurance plans have a formulary, or an approved list, of prescription drugs that they will cover. |
 Vision Coverage is a type of health insurance plan under which vision care, such as eye examination, and vision aids, such as glasses or contacts, are at least partially covered. |
 Health & Wellness Programsare program that helps employees stay healthy or in some cases helps an employee improve their health. Wellness program ideas can range from programs such as helping the employee to stop smoking or to lose weight; to gym memberships; in which these incentive programs provides rewards to participation for achieving the desired results. Generally, health and wellness programs are in addition to the Employer Groups health insurance coverage. |
We know that insurance industry can be complex, so why not the dedicated health & life insurance broker experts advocate on your behalf? Assistance is just a Request An Insurance Quote Click, Email or Call away.
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