Insurance and Medicare Q&A

By combining the localized knowledge of our local agents with the broad experience and comprehensive understanding of a professional insurance agency, we are able to offer our clients:

More Choices. Because we are an insurance agency and not an insurance company, we can offer plans from multiple insurance companies. We offer a broad selection of insurance companies and plans, which allows you to find the plan that best fits your needs.

More Savings. Insurance rates are filed with and regulated by your state’s Department of Insurance. Whether you buy from Insurance Connection or directly from the insurance company, you’ll pay the same monthly premium for the same plan.

No, all health and life insurance applications go through underwriting and the insurance company will make a final offer to accept you at the quoted rate or increase the rate or place riders on the policy. You are not buying the policy until you accept the final offer.

Prices are fixed by law. You cannot find a better price anywhere for the same product.

Short-term health insurance plans provide coverage for a limited period of time and may be an ideal solution for those between jobs or those waiting for other health insurance to start. Typically, short-term plans offer coverage up to six months, and you can usually renew the plan for an additional six-month period.

Congress passed the landmark Consolidated Omnibus Budget Reconciliation Act (COBRA)1 health benefit provisions in 1986. The law amended the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code and the Public Health Service Act to require most group health plans to provide a temporary continuation of group health coverage that otherwise might be terminated.

Companies in Texas with fewer than 20 full-time employees are subject to the State Continuation rules. Most of the insurance companies manage the state continuation process for employers. The support staff of AR Garrison & Associates will also assist employers to make sure they are in compliance.

Companies can partner with a bank to allow employees to make pre-tax payroll contributions into their HSA account. The money that is deposited into an HSA account is the employee’s money to use for any qualified medical expense. Contributions to an HSA account cannot exceed the IRS contribution limits. You do not have to use any of the money deposited into the HSA on an annual basis. Your account balance will roll over each year without a penalty on a tax-deferred basis.

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How do I make withdrawals (or take distributions) from my HSA? You can make tax-free withdrawals (also known as distributions) from your HSA to pay for qualified medical expenses at any time during the year. When your account is opened, you receive a debit card and checks for easy access to your funds. However, you do not have to make withdrawals from your HSA each year. Your contributions remain in your HSA from year-to-year until you use them. If you make withdrawals for non-qualified medical expenses or for other reasons, the amount withdrawn will be subject to income tax and may be subject to an excise tax as well. Please keep in mind you should track all of your withdrawals from your HSA so you can supply documentation on your expenditures if needed.