Health insurance is of critical concern both for individuals faced with finding coverage on their own and for employers providing health insurance as a benefit to employees. Obtaining coverage at affordable prices can be a daunting task. Medical inflation is an ongoing issue and it in turn adversely impacts the cost of health insurance.
The Nowell Agency, Inc. will work with you to find the best programs offered in the market place today. When you choose The Nowell Agency, Inc.’s health insurance packages, you choose:
- Comprehensive health insurance
- Cost-effective packages
- Industry-specific experts
- Access to a wide range of insurance companies in Mississippi who will match the products to your specific needs.
- The highest level of professionalism
- Superior customer service
In addition to basic health insurance policies and group health insurance policies, The Nowell Agency, Inc. offers Medicare supplements. Medicare supplements help pay some eligible expenses not paid for by Medicare Part A and Medicare Part B. Part A includes expenses for hospital and skilled nursing care facility, and Part B includes expenses for physician’s services, hospital outpatient services and supplies, physical and speech therapy and ambulance service.
The Nowell Agency, Inc. will assist you in obtaining the plan that meets your needs and objectives and educate you in the procedures associated with this type of important coverage.
Please be advised that an open enrollment period exists for those turning age 65 whereby no health questions are required and acceptance is guaranteed.
Chances are you or someone you know has faced the financial and emotional issues involved with caring for an adult family member. If so, then you’re already familiar with long term care. Simply put, long term care is assistance with daily activities such as eating, bathing, or getting dressed – whether care is provided at home, in an assisted living facility or in a nursing home.
Considering the escalating costs of this care, which currently has a national average of $55,000 per year and runs as high as $93,000 in some states, and considering the ever increasing numbers of those from the “baby boomer” generation, long term care has escalated to the #1 health care crisis in America. Furthermore, the cost of this care is projected to more than quadruple by 2030.
It is understandable why we consider long term care coverage to be one of the most important areas of protection one can have as it protects your hard earned assets while providing quality choice of care. The Nowell Agency, Inc. can assist you in discussing the benefits and plan design that will aid the entire family.
Health Savings Accounts (HSA’s)
A Health Savings Account (HSA) gives you many advantages in saving for future health care expenses. Authorized by federal legislation, HSA’S have been called the “medical IRA” because they offer tax advantages on all contributions, interest and qualified withdrawals.
A Health Savings Accounts utilizes a high deductible and provides the following:
- Greater control over your health care dollars, as you withdraw your funds when you need them. Withdrawals are tax-free and penalty-free when made for qualified expenses.
- Funds for a broader range of health care services: (a) Pay for covered expenses that apply toward your deductible (b) Pay for qualified medical expenses that your health plan doesn’t cover, such as contact lenses, dental services, certain types of alternative medicines, long term care insurance, and non prescription drugs.
- Tax Advantages: Contributions and earnings are tax free. Distributions are also tax-free if used for qualified medical expenses.
- A retirement income supplement: At age 65, accumulated funds can also be withdrawn for medical expenses not covered by Medicare – tax free. Funds for non-qualified expenses are subject to income tax.
The Nowell Agency, Inc. can provide benefit and rate information upon request as well as the network providers that are available to your specific geographic area.