Helping folks with noveau insurance technology.

A cafeteria POP (Premium-Only Plan) is a type of employee benefit plan that allows employees to pay for certain benefits, such as health insurance, with pre-tax dollars.

This means that the portion of the employee's salary that is allocated to pay for the benefits is not subject to income or payroll taxes, which can result in significant tax savings.

Under a cafeteria POP plan, employees are given a choice of benefits, which may include health insurance, dental insurance, vision insurance, and other types of benefits.

Employees can choose to participate in one or more of the available benefits and can choose the amount of their salary that they want to allocate towards each benefit.

Cafeteria POP plans are typically offered by employers as part of a larger benefits package, and they can be a valuable tool for attracting and retaining employees.

By allowing employees to pay for benefits with pre-tax dollars, employers can help their employees save money on taxes and increase their take-home pay.

Additionally, offering a variety of benefits through a cafeteria POP plan can help employers meet the diverse needs of their workforce. Want additional information: www.MMinsuranceAgency.com 877-480-4325 info@insuranceAgency.com

What is an HDHP high deductible Health Plan

An HDHP, or High Deductible Health Plan, is a type of health insurance plan that has a higher deductible than traditional health insurance plans. The deductible is the amount you have to pay out-of-pocket before your insurance kicks in to cover your medical expenses.

To qualify as an HDHP, the plan must meet certain criteria set by the IRS.

HDHPs typically have lower monthly premiums than traditional health insurance plans, but you will pay more out-of-pocket when you need medical care. However, HDHPs are often paired with a Health Savings Account (HSA), which allows you to save money tax-free to pay for medical expenses.

It's important to consider your healthcare needs and budget when choosing a health insurance plan, including whether an HDHP is right for you. If you're generally healthy and don't expect to need a lot of medical care, an HDHP with an HSA may be a good option. However, if you have ongoing medical needs or anticipate needing significant medical care, a traditional health insurance plan with lower deductibles and copays may be a better choice.

Want to learn more.

Call us: 877-480-4325

info@MMinsuranceAgency.com

www.MMinsuranceAgency.com

#insurance #healthinsurance #money #medical #health #healthcare #tax #hsa #hdhp

Insight on Valentines Day

Valentine's Day, also known as Saint Valentine's Day, is a holiday celebrated on February 14th each year. It is a day for people to express their love and affection for one another, typically through the exchange of cards, gifts, or flowers. The holiday has its roots in ancient Rome, where a festival called Lupercalia was held in mid-February to celebrate fertility and the coming of spring. Over time, the festival became associated with love and romance, and eventually evolved into the modern-day Valentine's Day.

The holiday is named after Saint Valentine, a Christian martyr who lived in the third century. The stories of Saint Valentine vary, but he is often said to have been a priest who performed secret weddings for soldiers who were forbidden to marry. He is also said to have sent a letter to a young woman he loved before he was executed, signing it "Your Valentine."

Today, Valentine's Day is celebrated around the world, and is often seen as a day for couples to express their love for one another. However, it is also a day to celebrate friendships and other close relationships, and many people use the occasion to show their appreciation for the important people in their lives.

If you have any insurance questions let us know. 877-480-4325

www.MMinsuranceAgency.com

info@mminsuranceagency.com

#insurance #love #valentines #valentinesday #valentinesday2023 #friends #friendship

What are MediGap Plans

"Medigap" plans, also known as Medicare Supplement plans, are private insurance plans that help fill the "gaps" in original Medicare coverage. Original Medicare (Part A and Part B) covers many healthcare services and supplies, but there are some out-of-pocket costs that it doesn't pay for, such as copayments, coinsurance, and deductibles.

Medigap plans are designed to help cover some or all of these costs. They are standardized and offered by private insurance companies, and they only work with original Medicare. Each Medigap plan is identified by a letter (such as Plan A, Plan B, Plan C, etc.), and each letter corresponds to a specific set of benefits.

Some of the benefits that Medigap plans might cover include:

• Part A hospital coinsurance
• Part B coinsurance or copayment
• First three pints of blood needed for a blood transfusion
• Part A hospice care coinsurance or copayment
• Skilled nursing facility care coinsurance
• Part A deductible
• Part B deductible
• Part B excess charges
• Foreign travel emergency care

It's important to note that Medigap plans do not cover prescription drugs (that is covered by a separate plan, known as Medicare Part D), long-term care, vision or dental care, hearing aids, or private-duty nursing.

If you are enrolled in both original Medicare and a Medigap plan, Medicare will pay its portion of the approved amount for covered healthcare services, and your Medigap plan will pay its portion. You typically pay a monthly premium for a Medigap plan in addition to your premium for original Medicare.

Call me with questions: 877-480-4325

info@mminsuranceagency.com

www.MMinsuranceAgency.com

Medicare Part II in 2023

Check out part two of Medicare 2023 ! 📹

INSULIN COSTS ARE CAPPED  

MEDICARE START DATES HAVE SHIFTED

SHINGLES VACCINES ARE COVERED

📱Questions about Medicare: 877-480-4325🖁

📧info@mminsuranceagency.com 📬

www.MMinsuranceAgency.com

Medicare Part 1 2023

Updated premiums and deductibles are changing in 2023 ! In 2023, costs have gone down, others have increased, and there are some updates to how Medicare works. Medicare Part B is medical insurance that covers needs like doctor visits and durable medical equipment, such as wheelchairs and walkers . Everyone pays a Part B monthly premium , even people with Medicare Advantage plans. In 2023, the Part B standard premium is $164.90 per month, down from $170.10 per month in 2022. If you have a higher income, you may pay more . The Part B deductible dropped to $226 in 2023, down from $233 in 2022. Need some help !

877-480-4325 info@mminsuranceagency.com https://www.MMinsuranceagency.com