Frequently Asked Questions
You have Questions. We have Answers.
Let's face it, healthcare is confusing. You have questions. That's understandable and it is also good, because that means you are taking your healthcare seriously.
Starting below are the questions we are frequently asked. Simply select the question and you will see our answer. If you have any question that is not answered here, please enter your question in the space provided.
Healthcare Plan Question
Please click on the question you have to get your answer
1 General: How should I go about choosing a Healthcare plan?
If you can't afford to pay either cost, you should not purchase that plan. If you purchase an un-affordable plan, you could have a significant financial hardship or even a medical bankruptcy.
2 General: What exactly are the Max Out-of-Pocket, Deductible, Co-insurance, and Co-pay costs?
The Deductible: Every insurance company charges a "Deductible". You must first pay 100% of the plan's Deductible cost. The Deductible payment goes to the medical providers. Not to the insurance company. The lower the Deductible, the higher the monthly cost.
The Co-Insurance: After the Deductible is paid by you, then you and the insurance company share in the remaining costs. This is called "Co-Insurance". The Co-Insurance cost is frequently shown as a percentage, 80/20, for example. This means the insurance company pays 80% of the remaining costs. You pay 20%. However, your 20% is capped at a specific maximum amount. This cap is usually hard to find in your plan. The cap is included in the plan's Max Out-of-Pocket.
The Max Out-of-Pocket: The Max Out-of-Pocket (MOOP) is the total of your Deductible cost plus your Co-Insurance cost. The MOOP is the most important cost for you to know.
If your Deductible is $2,500 and your 20% Co-Insurance cap is $5,000, your MOOP is $7,500.
When you have a major medical event and need to use your insurance, you will have to pay the plan's MOOP. Not just the Deductible!
After Paying the MOOP: Once the MOOP is paid, the insurance company pays the remainder of your medical costs. For example, if your medical costs are $50,000, you pay a $7,500 MOOP, insurance pays $42,500.
Most Insurance Plans: Almost every insurance plan's Max Out-of-Pocket cost range from $6,000 to over $7,500 for an individual and twice for a family. The deductible may vary from $0 to $6,000. Whichever way you look at it, the insurance company wants your $7,500 to $15,000.
The Co-Pay: Finally, a Co-Pay is what you pay when you visit the doctor. Co-Pays are usually around $50 per visit. However, almost all lower cost major medical plans don't include or have limited office visits.
3 General: What types of healthcare plans are offered by HomePort?
The federal Affordable Care Act - ACA (Obamacare) is insurance generally for persons who have major medical issues. ACA plans are very expensive and have a very high Max Out-of-Pocket. ACA plans are available on state healthcare exchanges.
Community Healthcare Plans are not insurance. Rather, CHP brings individuals, families and employers together to "Self-Insure" against medical costs. CHP plans are the lowest cost, most flexible plans available in the marketplace. CHP plans are available through HomePort and are not on state exchanges.
Medicaid Plans are provided by the state for low income people.
Neither HomePort nor CHP offer Medicaid plans.
Medicare is a federal medical program for people over the age of 65.
Neither HomePort or CHP offer Medicare plans. We do have a very experienced affiliate who manages our Medicare clients. We would be happy to refer you to our affiliate.
4 General: My employer offers a "Group" healthcare plan. Should I purchase it?
We'll help you with this process.
5 General: How do CHP, ACA and Group plans compare in cost?
An ACA plan can range from about $200 to over $350.
Your Group plan's price is usually determined by how much your employer subsidizes your healthcare cost. In most cases, an employee's monthly cost is higher than what can be purchased direct from an insurance company or CHP. Group plans usually add about 5% to 15% additional cost to a traditional ACA individual plan.
There is another cost to be considered with these plans; the Deductible, Co-Insurance and Max Out-of-Pocket (MOOP). The ACA and Group plan's MOOP range between $6,550 and $10,000. The CHP MOOP options range between $250 and $2,000.
6 General: What are each Plan's Deductible options?
7 General: How is the CHP Deductible different from an insurance plan's deductible?
With CHP, the deductible is paid each time you have a Medical Event. You choose your CHP deductible, which range from $250 to $2,000.
For example, if you have a Medical Event early in the year, you would pay the CHP Deductible at that time. If later that year, you have another, separate and unrelated Medical Event, you would pay another CHP Deductible.
Here is why the CHP deductible is much better than an insurance plan's deductible. With insurance, a single Medical Event will likely cause you to pay the MOOP; $6,000. With CHP, the same Medical Event would only cost you the $250 or $2,000 amount you selected. So, if you had a $1,000 CHP deductible, you would need to have 6 Medical Events to equal 1 insurance Medical Event. CHP could save you $5,000 or more in deductible costs.
8 General: What are the healthcare coverages for these plans?
For example, ACA plans are required by federal law to include wellness visits, maternity, drug treatment and others. These coverages add cost and are not needed or wanted by most people.
9 General: Can I use my doctor or any other doctor?
With an ACA plan it is likely your doctor is not affiliated (In-Network) with your insurance plan. We recommend you check to see if your doctor is "In-Network". Most of the lower cost ACA plans do not include doctor visits. Just an annual wellness exam.
10 General: Are prescription medications included?
Most major medical plans do not include prescription medications until you pay the plan's deductible cost.
11 General: How and where should I buy my healthcare plan?
CHP plans are available through HomePort from HomePort Healthcare Services.
12 General: What is a Medical Event?
13 General: What is the definition for an "Accident"?
14 General: What is the definition for a "Critical Illness"?
15 General: What is the definition for a "Non-Critical Illness"?
16 General: What is and why do I need a HomePort Concierge Service?
Your HomePort Concierge Service will help remove the hassle, uncertainty and complications when you have to deal with healthcare issues. Your Concierge will;
(a) interpret insurance policies and coverages,
(b) negotiate medical costs and payment terms,
(c) answer questions concerning medical situations and
(d) help you communicate with your insurance companies to get your questions answered and issues resolved.
Your Concierge will also help you file a claim to receive the medical cash reimbursements. The HomePort Concierge will save you time, money and your sanity.
17 General: What about the ACA Penalty Tax?
Row 61 on your form 1040 income tax return.
18 Coverages: How about annual wellness exams?
19 Coverages: How about Labs, X-Rays and other tests?
20 Coverages: Dental and Vision Coverages?
21 Coverages: How about Maternity and Alternative Treatments?
22 Coverages: How about preexisting medical conditions?
23 Financial: How can I lower my Deductible, Co-insurance and Max Out-of-Pocket costs?
To limit your Max Out-of-Pocket cost with an ACA or Group plan you can purchase CHP with the optional Max Out-of-Pocket limiter called TOPS (Total Out-of-Pocket Solution). TOPS limits your out-of-pocket cost to only $1,000. TOPS is very affordable and can be used with any major medical plan. TOPS is included with all the CHP plans.
Call for details and a quote.
24 Financial: How can I lower my monthly premium cost?
Deductible: Choose a higher deductible.
Coverage Limits: With CHP, lower the plan's Coverage Benefit Limits. ACA plans don't allow you to select different coverage limits.
Split Policies: If one family member has a significant medical issue, purchase an ACA plan for that family member. Purchase CHP for the other family members. The combined cost will always be lower than having all family members on an ACA plan.
Use Medical Financing: A $200 monthly premium payment can be reduced to only $69.95. Your payment is locked in for five years.
Contact us for details.
25 Financial: If I want to use Medical Financing, what do I need to do?
Contact us for details.
26 CHP: CHP refers to me as a "Member" rather than an "Insured". Why?
27 CHP: CHP monthly payments are called "Contributions". Why?
28 CHP: How does CHP determine my Contribution amount?
29 CHP: What is the difference between the Contribution amount and the Plan Effective Cost?
For Example, if your Contribution amount is $200, your Pool Credit is $100 and you receive a $20 per month "New Member Discount", your credits total $120. You Plan Effective Cost is $80 ($200 less $100 less $20).
For comparison, consider if you paid $200 for a TV. When you purchased the TV you also received a $120 pre-filled credit card, what was your TV's actual cost? The answer is $80.
30 CHP: What is the CHP Maximum Benefit Limit?
31 CHP: How do I choose the plan's Maximum Benefit Limit for me?
A non-critical illness could range from a $10,000 to about $50,000.
Additionally, a critical illness could range from a $10,000 to over $100,000. Statistics show that a seven day stay in the hospital could cost about $50,000.
If you are on a limited budget, choose a Maximum Benefit Limit from $5,000 to $10,000. If your budget allows, choose a higher Maximum Benefit Limit. CHP has options from $25,000 to $250,000.
32 CHP: What happens if I have a CHP plan and I'm diagnosed with a very serious, long term illness?
33 CHP: How can I lower my CHP Contribution?
34 CHP: Can my CHP Contribution be deducted on my taxes?
35 CHP: Who receives my Contributions?
36 CHP: What is the Community Healthcare Pool?
The Pool is a separate entity from CHP and resides in various banks and credit unions. Additional Pools are created to stay within FDIC or NCUA insurance limits. Each individual Pool is collectively called the "Pool". Deposits received by the Pool do not pay interest. CHP manages the Pool.
37 CHP: What is a Pool Credit?
From CHP Contributions: With each CHP Contribution and specific amount is designated a "Pool Credit", usually about 50% of your Contribution. Your Pool Credit is deposited into the Community Healthcare Pool (Pool) and adds to your CHP Account Balance. Note, no insurance plan gives back to you 50% of your monthly payment. CHP does!
Sponsoring Pool Credits: Pool Credits are also earned by Sponsoring new CHP members. You receive a $10 per month Sponsoring Credit for each person you send to us who becomes a CHP Member.
Third-Party Stop-loss Payments: Pool Credits can also be earned with payments received by CHP from Third-Party Stop-loss Insurance providers. CHP purchases supplemental insurance from various third-parties to reduce the Pool's General Capital Account risk. When you have a Medical Event that is covered by Third-Party Stop-loss Insurance, the cash proceeds received by CHP are used to increase your CHP Pool Account Balance and to pay your medical bills.
38 CHP: What are Pool Advances?
39 CHP: How are my medical bills paid?
Second, the payments are withdrawn from your Pool Account Balance. Then, from Third-Party Stop-loss insurance payments. Finally, if these resources are not sufficient to pay your medical bills, the payments are made from the Pool's General Capital Account until paid.
Your monthly CHP Contributions continue to be applied as payments are being made. There is no increase in your CHP Contribution or decrease in your monthly Pool Credit Amount.
40 CHP: What is Third-party Stop-loss insurance and how does it work?
41 CHP: Do I have to pay back the Pool Advances used to pay my medical bills?
Third-Party Stop-loss insurance payments are first applied to pay your approved medical costs, then to repay any negative balance in your Pool Account. Any remainder will be credited to the Pool's General Capital Account.
42 CHP: Does CHP charge me interest on the Pool Advances?
43 CHP: Do I have to qualify for Pool Advances?
44 CHP: Do I have to qualify to use the Pool?
45 CHP: What is the Pool Account Balance?
46 CHP: What is a Medical Event Registration?
47 CHP: What are the Assisted Managed Care Services?
CHP Concierge Service: Your CHP Concierge Service provides you with the following services:
- Where to receive medical treatment: When you have a Medical Event, we'll help you locate cost effective medical services.
- Review your medical bills: We'll attempt to discover charges that should be questioned.
- Price Negotiations: We'll attempt to negotiate a cost reduction of your medical bills.
- Payment Terms: We'll attempt to negotiate payment terms for your medical bills.
- Pool Advances: Paying medical bills.