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Since 1950, Raley, Watts & O’Neill has been serving the insurance needs of our clients. We started as a one person operation in Lexington Park, MD and are proud of our small town heritage. We have worked hard to maintain the fundamental principles of our roots while we have grown into a company that serves clients throughout the Mid-Atlantic, the United States and Internationally. We pride ourselves on getting it right and taking care of the needs of our clients. We simplify the insurance process and take the time to make sure each of our clients understand their options, what they are buying and where their money goes. Our committed staff has the expertise and extensive experience in a broad range of insurance products and services like Commercial, Personal, Bonding, Safety/Risk Management, Group Health, Life and Financial Services. We would welcome the opportunity to demonstrate to you how working with Raley, Watts & O’Neill is about more than just insurance; it is about a long term relationship. We always strive to never veer from our values – C.A.R.E
Catastrophic Health Insurance
4Health insurance costs are rising and the economy is uncertain at best. In this climate, more and more consumers are considering High-Deductible Health Plans (HDHPs), often known as Catastrophic Health insurance.

What are the benefits of HDHPs?

Some of these plans feature lower-than-average premiums (but with higher deductibles for all medical expenses, except qualified preventive care) up to the annual deductible. After that, some HDHPs pay 100% of your covered medical expenses. Others initially pay a share of your medical bills (such as 80%) before providing full payment when you reach an out-of-pocket maximum. Your premiums don't count toward your deductible or out-of-pocket maximum.

In addition, many of these plans cover a full range of health care services -- not just hospital and emergency medical costs.

Before you buy an HDHP, ask yourself these questions:

  • How much can you afford to pay for Health insurance?
  • What coverage do you need?
  • What does the plan cover, and not cover?
  • How much is the deductible, and how much, if any, would you pay in coinsurance up to the out-of-pocket maximum?
  • Does the plan offer a strong, nationwide network of providers?

Our agency's Health insurance professionals would be happy to help you determine whether an HDHP can benefit you and to find the plan that meets your needs most effectively. Just give us a call.

 
Gordon O’Neill
Other articles by: Gordon O’Neill
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