Know More About Individual Health Insurance

4 Apr

Choosing an insurance policy, especially individual health insurance in Alberta, isn’t easy. Whether you’re trying to insure your health, your life, your income, or all three, the costs add up quickly. This is why it’s important that you know more about individual health insurance policies.

Let’s begin with three pieces of advice when it comes to individual health insurance in Alberta.

1. Only buy individual health insurance that will protect your specific risks.

2. Only purchase enough personal insurance to maintain good health.

3. Don’t worry about getting insurance for services you won’t use.

For example, if you get a prescription plan because you have a monthly prescription, calculate how much you’ll pay for this benefit compared to how much you spend a year. If you don’t get any prescriptions, don’t buy the most extensive prescription coverage, but get enough for what you might need.

Individual Health Insurance in Alberta – Where can I Buy Health Insurance?

If you can’t join a group plan through your work, you can buy an individual health insurance policy in Alberta directly from an insurance company.

Another option to buy individual health insurance in Alberta, which is easier, is to use an insurance broker to help you navigate the hundreds of options available. Brokers work with several insurance companies (at no charge to you) and will find the right policy to fit your lifestyle, health needs and budget.

However, before you begin your search you should know as much as you can about individual health insurance in Alberta – even if you use an insurance professional to help you.

Individual Health Insurance in Alberta – Buying Individual vs. Buying a Group Policy

If you buy into a group policy through work, your employer may pay for all or a portion of the benefits. If you buy individual health insurance, you have to pay the premium, but you can use a portion of what you pay as a tax write-off.

Individual Health Insurance in Alberta – Policy Premium

The premium you pay for benefits will be charged monthly, or you can pay for a full year upfront – the same process as your car and home insurance. The amount of your yearly policy will depend on the benefits you get, your portion of the services, and the plans offered by the health insurance company you chose.

Individual Health Insurance in Alberta – What Health Services can I get?

There are a number of options with personal health insurance. The majority of insurance carriers in Alberta offer basic plans and extended plans. It’s also possible to get a mixture of services in your policy. For example, you can have a basic plan, with a few extended health services added. What you’ll pay depends on the insurance company you buy your policy from.

When it comes to individual health insurance in Alberta, some companies offer a range of plans to cover basic and extensive services.

Below is a list of possible health services you can get in Alberta.

• Vision

• Dental

• Prescription drugs

• Medical supplies

• Semi-private or private hospital room

• Chiropractic

• Registered massage therapy

• Counseling

• Dental insurance

Disability Insurance

• Critical illness coverage

• Cancer insurance

• Travel insurance

Individual Health Insurance in Alberta – Health Insurance for Entrepreneurs and Self-Employed

A Health Spending Account (HSA) in Alberta is probably the best option if you own your own business or you’re self employed. This health insurance product allows you to deduct 100 per cent of your family health and dental expenses without paying premiums. It’s set up by Canada Revenue Service. To find out about HSAs or other small business health insurance plans, speak with an insurance broker.

If you’re looking for individual health insurance in Alberta we can help. We’re professional insurance brokers and can help you find health coverage that fits your needs and budget. For more information about the types of plans available in Alberta or to discuss your needs you can go to our website.

Medicare Part D Plans: Frequently Asked Questions

7 Dec

Healthcare is a costly affair today and if you are not properly insured, you will have a tough time paying medical bills during emergency health situations. Medicare plans are a boon for people aged 65 and above in today’s times of expensive healthcare. Medicare is a national social insurance program that includes around 50 insurance companies all across the United States. There are 4 different parts namely A, B, C and D in Medicare.

Medicare Part A and B plans are the most commonly used plans, which cover hospital and medical insurance respectively. Medicare Part D Plans cover prescription drug expenses for existing Medicare beneficiaries. If you don’t have a Medicare Part D plan, you will most certainly have a lot of questions. Read this article to get answers to all of your questions.

1. What exactly is a Medicare Part D Plan?

It is one of the plans of Medicare that came into effect on January 1, 2006. It essentially acts as an insurance coverage for prescription drugs and anybody who has Part A or Part B plans with them are eligible for Part D as well. Part A and B don’t cover prescription drugs and some treatments require that you to consume a lot of medicines, normally expensive ones. Part D plans come handy in such situations.

2. What do Medicare Part D Plans cover?

Part D plans mainly provide insurance coverage for prescribed drugs from your doctor. There are different plans which cover different drugs and you will be able to choose a particular plan that covers most of your prescribed drugs. You won’t receive any coverage for non-prescription drugs like weight gain/loss drugs, cosmetics, medicines for hair growth etc. Drugs that are covered by Part A and Part B plans are also excluded from the coverage offered by Part D plans.

3. How much do Medicare Part D Plans cost?

Like every insurance coverage, you have to pay a monthly premium on your Part D plan. The average nationwide premium as of 2017 is $34. However, monthly premiums largely depend on the insurance company and the type of drugs you are taking. Apart from monthly premiums, you will also have annual deductibles if you are consuming drugs that are considered high tiered. High tier drugs are those drugs that are expensive and given to treat complex health issues.

4. What are the coverage limits?

All insurance plans have coverage limits and so do Medicare Part D Plans. For 2018, the coverage limit is $3750. This means that once your drug expenses reaches this number, you will have to pay 44% of the co-insurance on generic drugs and 35% co-insurance for brand name drugs. The rest will be paid by the Medicare plan. If your yearly out of the pocket expenses on prescription drugs reaches $5000 you will have to pay an additional $3.35 co-insurance on generic drugs and $8.35 for all other drugs.

5. What are the limitations I need to know?

Like every insurance plan, Medicare Part D plans too have their own internal network of pharmacies from where you can buy your prescription drugs. Each plan will have a certified network of pharmacies that will be considered internal. If you choose to purchase your drugs elsewhere, it will be considered an out-of-network purchase where your share i.e. the co-insurance will be more. You should be careful while choosing the plans as well since each plan will have a set of drugs grouped together, consisting of lower and higher tier drugs.

6. When can I join a plan?

You can sign up for Medicare Part D plans ( in three different ways. If you are new to Medicare plans, you can sign up for Part D under an Initial Enrollment Period (IEP) which stretches from 3 months before your birthday month and 3 months after your birthday month, i.e. a total of 7 months. Or you can also sign up during the Annual Enrollment Period (AEP) which runs from October 15th to December 7th. Lastly, you can also sign up under the Special Enrollment Period (SEP) anytime of the year only under special circumstances like losing your employer drug coverage.

Hire the Best Insurance Broker with These Tips

13 Dec

Hiring an insurance broker to negotiate your policies can definitely work in your favor. If you find the right broker, it can save you time, money, and a lot of frustration. To make sure that you have the most positive experience possible with your agent, here are some things you should look for and expect from your insurance broker when you are in the process of hiring them. Keep these in mind when searching, and you will find a knowledgeable, competent and effective insurance broker to take care of all of your needs.

Know What You Need Covered by Insurance

Before you go to an insurance broker you need to make sure that you have a clear idea of what needs insurance coverage in your life. Your home and vehicle are major items that will need coverage; even if you don’t own your home and renting, you can protect yourself with renter’s insurance. You may also want to consider insurance for your RV, boat, snowmobiles, or ATV’s if you own them. Your insurance broker may also be able to find options for health and life insurance in Texas. This is extremely important as well to protect you and your family in case of medical emergencies or an accident. Make sure that the insurance broker you select is able to negotiate a policy for all of the things you need insured.


Ensure That Your Insurance Broker is Accredited

Before you even consider doing business with an insurance broker, for your own protection, you need to make sure that they are fully accredited and licensed. The State of Colorado has a licensing body that lists all of the brokers and agents that have met the minimum requirements for education in the field of insurance and that they will be able to provide knowledgeable service to their clients. Make sure that the insurance broker you are considering is on this list before you give them any money or sign any policy with them.

Is Your Insurance Broker Knowledgeable?

One factor that really differentiates a professional from an average person at their job is their knowledge base. When you meet with your insurance broker, you should have a list of questions prepared. If your broker seems confident and they are able to answer all of your questions with detailed information, or they know where to look if they don’t know it off the top of their head, you should hire them. It shows that their knowledge of the industry is thorough enough to be of great use to you as a client.

Ask If Your Insurance Broker Has Connections

Remember that insurance brokers do not work for a particular insurance company; but any insurance broker that you are looking to hire should have connections with a network of insurance companies. If your insurance broker has business relationships with numerous companies, this allows them to get you the best price on the policies that you need. It’s almost like comparison shopping except that you don’t have to do it because your broker is doing that for you. You simply tell your broker what kind of policy you need, and they find you the best price for those terms from their network.

Can Your Insurance Broker Negotiate?

Although your insurance broker will be making a commission as their payment for finding you an appropriate policy, you also need to make sure that they are able and willing to negotiate with insurance companies on your behalf. Your broker does a lot of business with multiple insurance companies and should be able to leverage their business relationship and the rapport they have built into the best possible deal for their clients. If they can’t, they are only thinking about their own commission rate and this is not someone that you want working for you if they don’t have your best interests at heart.

Is Your Insurance Broker Professional

When you first met with your insurance broker, if you got the impression that they are dedicated, that they take their job seriously, and treat their clients with respect, you have a professional! Look for this as the number one sign that they will work hard to give you the best service possible.

A Brief on Insurance Direct Mail Marketing

13 Sep

The way you communicate with your clients decides how good an insurance agent you are and how well you can maintain a long and sustainable relationship with them. You need to be in constant touch with them and keep them regularly informed and updated over all the crucial information they ought to know from you. Sure phone calls and emails seem to be the most convenient means of communication, but they lack personal values and fail to deliver a sense of emotion that shows that you care for them. This article discusses the positive sides of insurance direct mail marketing and ways to use direct mail to expand your reach and increase your conversion rates.

A Brief on Insurance Direct Mail Marketing

Below is a list of benefits of using direct mail to market your insurance services.

• First and foremost, direct mail puts you one step ahead of your competitors by giving you an opportunity to make a personal connection and establish a long lasting relationship. Direct mail includes newsletters and brochures which could be personalized for each individual client of yours, thus making you an agent who respects his clients and their preferences.

• Secondly, with emails, you can never know how successful you were pulling off an effective email marketing campaign. To be more precise, email marketing is less measurable when compared to insurance direct mail marketing. This way you could filter your listings and focus only on those potential clients who are interested to do business with you. This way you save time, energy and of course a lot of your money on your marketing campaigns.

• Thirdly, the insurance direct mail marketing is a very competitive industry and there are plenty of direct mail marketing services who can provide you with resources and ideas to come up with a strategic marketing plan. In order to keep their customers, i.e. the insurance agents happy, these companies also offer free bulk mailing services, thus reducing half of your work by generating mailing lists, paying bulk mail postal charges and taking all the responsibilities of ensuring the delivery, all by themselves.

In order to increase the efficiency of your insurance direct mail marketing campaign remember to follow the below mentioned steps.

• Constantly review your mailing lists by adding new potential leads and giving up on those poor ones which don’t look even remotely positive.

• Bring variations in your insurance direct mail marketing campaign with innovative ideas for newsletters and brochures.

• Make use of variable printing services to target specific group of clients with newsletters and brochures, having content which will grab their attention almost instantly, leading to a conversion.

Picking the Right Insurance Agency Just For Your Needs

14 Aug

Whether it’s coverage for your health or your car or your home; you need to get in touch with a trustworthy agency providing such services. The insurance professionals in such agencies will assist you in getting the protection that’s appropriate for you.

Insurance undoubtedly is one of the most marketed products. The companies selling this product utilize all forms of media to get the word out about their company. The main message is how you can face an emergency and still save money. Each company aims to tell you how much you can save, if you buy their product. Selecting the right insurance therefore is truly essential.

Looking through the Yellow Pages or a quick internet search is a good way to find dozens of insurance agencies in the city. There are so many companies to choose from and at times, therefore, it can be hard to know which one to work with. There are some tips on choosing a good insurance agency. You should go for the most reputed one. The larger an insurance company is, the better is the chance to claim compensation easily. Before finalizing, confirm if the authorized body approves the insurance agency.


Reputed agencies appoint agents with in-depth knowledge. An insurance policy ( may not always offer you full coverage. Every individual face unique risk; therefore to be protected from those risks you at times look for customized policies. Customizing a policy that suits your needs and budget necessitates time and proficiency. Seek assistance of a reliable broker and enjoy!

There is no denying the fact that; many people run after an insurance agency that provides cheap insurance. At times, if you wish to save money in the initial stage, you may need to wait months for a claim to release. It is not at all a difficult task to find out an insurance agency’s track record. Browse the customer feedback section to understand the reputation of the agency in paying out compensation in time. The review section and customer complaints about the agency to see how well it works.

Sometimes you will need multiple forms of insurance; in such cases, it is imperative to choose an agency that will be able to meet not only present but also future insurance requirements. Selecting the right insurance company is very important. It is a harassment to change from one agency to another. It is hence essential to get it right in the first chance. Spend a little time; conduct a methodical research before finalizing agency. Call different insurers, ask for the benefits offered, and compare their prices. Do not however choose an insurer simply because it is the cheapest choice. Confirm that the agency pays claims on time and can take care of all your needs.

A good broker will offer you with a service and the level of protection that caters to your exact requirements. In a nutshell, choose the one who knows what they are doing and can make life easier for you!

Once you realize your insurance needs, look for referrals from family, neighbors, friends, and colleagues. Confirm if the agent is responsive and knowledgeable. Does the agent appraise the policy in every twelve months to ensure they’re getting the best coverage at the best price?

Convey your situation and request for a quote from the insurance agents. You may check their credentials on the company’s website. Do not overlook their license. As a final point, do not forget to examine the financial strength of the company. Evaluating the organization is definitely essential. Protect yourself during the purchasing process.

What Are the Benefits of Using Insurance Brokers?

21 Nov

Insurance brokers are the well known but misunderstood saviors of the insurance world. Many people believe that doing their own research and shopping will result in money well spent. Sadly, this is not the case in the financial world.
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How Insurance can Prepare You for the Worst

20 Jul

Life can be both expensive and unexpected. Put the two together and the everyday stress of trying to keep financials on track can be overwhelming. This is especially true for those who may be experiencing illness or loss within the family. Perhaps the main source of income for the Read more…