We Make Insurance Suck Less
Health Insurance
Access quality healthcare without worrying about high medical costs. Choose from a variety of health insurance plans that provide coverage for doctor visits, hospital stays, medications, and more.
Designed for Individuals, Families, and Business Owners
Whether you’re self-employed or between jobs, every American has the right to affordable health insurance coverage. At Hercules Health Solutions, we help make that a reality. As an insurance broker, we work with individuals, families and business owners who want a high-quality plan to protect against the unexpected.
We believe you shouldn’t have to choose between affordability and coverage, so we provide a wide variety of options. We get to know your unique needs, lifestyle and budget to help find a plan from one of the leading insurance providers.
When shopping for health insurance it is essential to consider several factors.
1. Healthcare Needs
How often do you go to the doctor? Will your needs change in the next year, such as starting a family? Are you receiving ongoing treatment? Do individual family members have specific needs not covered under a general family plan?
2. Hospitals and Doctors
Next, consider the provider network. Are the providers and facilities you wish to see in-network or conveniently located near you? Do you have the freedom to see whomever you want?
3. Costs and Budget
The final and often time most impactful consideration is the cost of the plan and your financial situation. What benefits package makes sense based on your budget? Some of the costs associated with health insurance plans include: Premiums, deductibles, co-pays , among other expenses.
Our goal is to ensure our clients have the right option to fit all of the their needs and budget.
What health insurance options do I have?
ACA & Marketplace Health Insurance
The Affordable Care Act (ACA) is a "government-sponsored" program, ensures all person’s legally residing in the U.S. have access to healthcare that will not deny care due to medical history. Your eligibility for financial assistance or specific plan depends on factors like your income, household size, and location. The program also provides assistance to those who are not qualified for Medicare or Medicaid, do not have a plan offered from their employer, and have income under 400% of the federal poverty level.
The types of coverage available through the marketplace are in tiers based on the benefits offered and out-of-pocket costs. The different levels are: Platinum, Gold, Silver, and Bronze level. All of these plans offer the same preventive care and minimum essential coverage benefits, but may have network restrictions.
Short-Term Health Insurance
Short-term health plans can provide a temporary solution helping you get the benefits you want to fill gaps in coverage. for the time you need. Plans may have a duration of 1 - 365 days, with up to a 2-year extension option (depending on residence state). Short-term insurance may be the right choice for you if you’re:
> Waiting for open enrollment to apply for a plan through the marketplace.
> Do not have a qualifying life event or qualify for a Special Enrollment Period (SEP).
> Waiting for other coverage to start.
> Bridge to Medicare.
> Recently turned 26 and leaving your parent's insurance.
> Between jobs or waiting for benefits to begin.
Short-term health plans are medically underwritten, meaning they require a quick review of recent health and prescription history. Short-term plans rarely cover pre-existing conditions or will have a waiting period.
Defined Benefit Health Plans
Defined benefit plans offer benefit transparency with set, predetermined benefit amount for covered services. These are great options if self-employed, not offered employer coverage or coverage is found to be unaffordable, or you are looking for more flexibility within your plan.
Deductibles can be a killer financially, especially high deductibles. 92% of insured Americans will not meet their deductible in a calendar year, which means any healthcare needs will be paid by the consumer (including copays, out-of-network costs, and services not covered before the deductible is met. Defined benefit plans do not have deductibles for outpatient services, meaning you get access to coverage from day 1.
No insurance plan pays for everything, however, defined benefit plans do offer much more flexibility within the network as they utilize a PPO network with coverage for out-of-network services. They also plans also reward consumers for "Smart Healthcare Management". With flexibility to see any provider, anywhere, anytime. Often time, approaching services as a "cash payer" can lower out-of-pocket costs vs. using insurance. Defined benefit plans allow you to benefit both as a "cash payer" and as a customer by paying you the full, listed benefit for that service if cash paying. If that benefit exceeds the billed amount, you, the consumer will receive the excess benefit dollars back.
Healthshare Plans
Healthshare plans are provided by organizations whose members “share” medical costs. As part of a healthcare sharing plan, you're responsible for paying a certain "monthly" share amount (like a premium) as well as an “annual unshared amount” (like a deductible) that your medical expenses must exceed before the plan shares your expenses. Beyond that, medical expenses are shared among members of the organization. Health sharing organizations are mostly religious-based. That doesn’t always mean you have to declare your faith to any particular religion to participate or join, but they do ask that you agree to live by a moral and healthy lifestyle—like not using tobacco or abusing drugs or alcohol. Healthcare sharing is not insurance, which means they are not overseen or governed by each states Department of Insurance (DOI), but plans count as insurance under the Affordable Care Act (ACA).
Healthshare plans may be right for people who are generally in good health, not eligible for a tax credit based on income, ack access to insurance through employer or government, missing open enrollment, or unable to afford current health insurance premiums through other options.
Group Benefits
In a competitive job market, companies with better benefit plans land and retain the best talent. Even as a small business, an owner has to consider what benefit plans they can offer to get the talent they need. One of the best starting places is with Group Health Insurance.
Group health plans are employer- or group-sponsored plans that provide healthcare to members and their families. The most common type of group health plan is group health insurance, which is health insurance extended to members, such as employees of a company or members of an organization.
Group health insurance plans offer numerous tax benefits to both employers and employees. The money employers pay toward monthly premiums is tax-deductible, and employees' premium payments can be made pre-tax, which may reduce their total taxable income.
Some employers must provide group health plans to their employees because of the "Employer Mandate". Employers are required to offer coverage to at least 95% of full-time employees and dependents. A penalty amount: $2,570 per full-time employee minus the first 30.
"Invest in health insurance today for a worry-free financial tomorrow."