Excelled Insurance Agency

With Health Insurance a Full Time Employee is any employee who works an average of at least 30 hours per week for more than 120 days in a year. Part-time employees work an average of less than 30 hours per week.

A Health Insurance hardship exemption is an exemption that’s needed when applying for Catastrophic coverage for people 30 and older who faced a "hardship" that prevented them from getting insurance. Hardship exemptions are one type of exemption that someone can claim to qualify for Catastrophic coverage, along with affordability exemptions.

Intellectuals solve problems, geniuses prevent them. Albert Einstein

Key person (employee) insurance is a particular type of life insurance policy taken out by a company on one of their employees, in which the company is the beneficiary in the case of that employee's untimely demise.

A “preferred provider” is a provider who has a contract with your health insurer or plan to provide services to you at a discount. Check your policy to see if you can see all preferred providers or if your health insurance or plan has a “tiered” network and you must pay extra to see some providers. Your health insurance or plan may have preferred providers who are also “participating” providers. Participating providers also contract with your health insurer or plan, but the discount may not be as great, and you may have to pay more.

"You are never too old to set another goal or to dream a new dream." — C.S. Lewis

A flexible savings account (FSA) and health savings account (HSA) can help reduce your out-of-pocket costs for dental care. You contribute pretax dollars to the accounts and use the money to pay for eligible dental expenses during the year.

A common question around here is how is Medicare different than Medicaid? By definition, it is a health insurance program for the elderly. Medicaid, on the other hand, is financial and/or healthcare assistance for low-income individuals. Some people 65 and older can qualify for both. In that scenario, Medicare is primary and Medicaid is secondary.

Fast Fact: A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation.

HSA FAQ: Do HSA funds rollover?
Any unused funds in your HSA automatically roll over each year. You will not lose any unspent money in your account.