As an independent insurance agency, personal lines is an important part of the products
At Body-Borneman, we know that our clients have more than automobiles and homes
Body-Borneman specializes in Commercial insurance, with over 2,000 clients
Health insurance has become a topic of much controversy in recent years. The passing of the Affordable Care Act in 2010 created significant changes in the health care industry. It is currently a federal law that if you can afford health insurance, you must purchase health insurance or else pay a fee. This fee is called the shared responsibility payment.
Individual health insurance is a health insurance policy purchased by an individual that is not connected to employer-based coverage. Although the Affordable Care Act is a federal law, individual health insurance policies are regulated under state law. Searching for an individual health insurance plan can be quite daunting. This is because there is an overwhelming variety of options available, and most people do not thoroughly understand insurance jargon. Our Body-Borneman Insurance agents are health insurance experts. We are here to help you navigate the different health insurance options that are available to you. Take a moment to review the following important terminology that you need to be familiar with when reviewing individual health insurance plans:
Health insurance can be your greatest asset should you find yourself at an emergency doctor appointment, or you find yourself staying in the hospital. Emergency room visits and doctor appointments can quickly become financially unmanageable, especially if you aren’t covered through health insurance. Many doctors will expect an individual to pay upfront for their visit. However, for many of us this would be impossible.
When looking for affordable health insurance, first think about how often you require medical attention. How often you require medical services will help to dictate which plan is right for you. Body-Borneman works with many different insurance providers to provide a wide variety of plan options. We have worked with over 17,000 clients so we are well-versed in asking you the right questions in order to best match a plan to your needs. Working with an agent ensures that the plan you decide to purchase will be just right for you. It is just as bad to purchase too much coverage as it is to purchase too little coverage. Either a lack or over-abundance of coverage will cost you more money than necessary in the long-run.
Individual health insurance is not necessarily the best option for every individual or family. It is important to consider your individual circumstances. The list below provides some examples as to when individual health insurance may be right for you:
Individual health insurance can also be purchased to supplement group insurance that is provided by your employer. The coverage your employer offers must meet certain federal guidelines. If it does not, then they are required to inform you so that you are aware that you need to purchase additional coverage in order to be in compliance with the law.
Group coverage is employer sponsored coverage. With this type of coverage your employer will typically:
Since individual insurance is not meant to serve a large number of individuals, individual insurance can be tailored more specifically to suit your needs. With individual health insurance you should expect to:
Individual health insurance also includes individual family insurance. This type of insurance is purchased when you wish to insure a spouse or dependent(s) on your insurance policy. This will of course be more expensive, but always remember to think about how insurance will save you money in the long-run.
If you are interested in purchasing individual family insurance, now may also be the time to consider purchasing whole life insurance. Whole life insurance is a permanent policy, which covers the contract holder for their entire life. Should the policy holder pass away, the beneficiaries are then paid the amount insured. This type of life insurance has a cash value, which is unlike many other types of insurance. Whole life insurance requires you to pay the premium for the rest of your life, so the cash value will increase and accumulate over time. That way your family will have that extra protection that is often necessary after your death. Whole life insurance ensures that it is possible for your beneficiaries to cover all debts and other expenses that arise after a death.
The purchaser of the whole life insurance policy has the option to borrow money from the cash value of the policy. The cash value of the policy grows each year as the policy holder pays the monthly premium. This continues until the cash value matches the face value of the policy. Another benefit of a whole life insurance policy is that the cash value of the policy is able to grow tax-deferred.
Term life insurance is an alternative to whole life insurance. Term life insurance is a temporary policy and therefore has no cash value. The policy includes fixed payments for a specified period of time. Should you wish to continue coverage at the end of the policy, you will be required to renegotiate coverage, likely with different payments and conditions. This means that your premiums are likely to increase overtime, unlike with the whole life insurance policy. However, if whole life insurance is not a financially feasible option, term life insurance is a good alternative. If you have a spouse or dependents, please consider talking to a Body-Borneman agent about which type of life insurance policy is right for you.
Medicare (which should not be confused with Medicaid) is a government program that offers health insurance to individuals. The federal government works together with selected private insurance companies to provide insurance to individuals meeting certain requirements. You may qualify for Medicare if:
Many Medicare plans do not provide financial assistance with dental or vision insurance. A Body-Borneman agent will be able to help you sort through the benefits that are available to you.
You never know what the future holds, so choosing to enroll in a health insurance plan, whether it be group or individual, is in everyone’s best interest. Be sure to check out the rating for each health insurance company you are considering, and ask your family and friends for their opinions. Be sure that the company you choose to work with is licensed to do business in your state. Remember, health insurance is regulated at the state level. Body-Borneman Insurance is licensed to conduct business in Pennsylvania, as well as 27 other states in the country. Our agents will make sure your family has the right plan with a premium that is comfortable for you. If you decide to work with Body-Borneman Insurance company, we will work with our accredited service providers to tailor a plan that is perfect for you. We are able to work within your budget so that you aren’t paying more money than you can reasonably afford.
If you are looking to speak to an insurance agent in person, Body-Borneman has four conveniently located branches in Pennsylvania:
17 E. Philadelphia Avenue
P.O. Box 584
Boyertown, PA 19512
230E. Schuylkill Road
Pottstown, PA 19465
1389 East Boot Road
2nd floor, above Vano’s Pizza
West Chester, PA 19380
400 Franklin Avenue Suite 205
Phoenixville, PA 19460
Our Body-Borneman Insurance agents are committed to servicing their clients every need. In addition to considering us for your individual health insurance needs, please also take a look at our other services. We have licensed agents that are experts in a variety of insurance services, from auto insurance to renters insurance and everything in-between. If you are considering buying individual health insurance because you are a self-employed small business owner, Body-Borneman can also help you with your business insurance needs as well. Whether your business is manufacturing, wholesaling, contracting, retailing or service, we can design a program of protection to match your needs. Since Body-Borneman is an independent agency, we represent a large diversity of the most competitive carriers for many companies. Working with a Body-Borneman agent to purchase business insurance will help you to ensure that your business grows well into the future.
Body-Borneman is an independent agency that has the privilege of servicing over 17,000 policyholders. Our agency’s main goal is to develop a long term relationship with our clients, providing them with the safety and security that is required to protect their personal possessions and their financial well-being. The insurance carriers that we at Body-Borneman Insurance have chosen to partner with represent the best of the best, and share the same desire and commitment in servicing your family’s financial needs. As health care laws continue to change over the coming years, you can count on Body-Borneman to stay on top of all the federal and state requirements. A licensed Body-Borneman Insurance agent can be your greatest ally in navigating the confusing and overwhelming world of individual health insurance.