You may hear many different types of health insurance plans thrown around, so how do you know which one is the best for you to choose? Contact Taake Insurance Agency, serving Columbia, IL, for help as you navigate.

What is an “HMO?”

HMO stands for “Health Maintenance Organization.” The goal of an HMO is to focus on keeping individuals healthy and introducing structure to outpatient care. Your main point of contact for your care will be a primary care physician or PCP. If you need specialty care, your PCP will refer you to a specialist within the care network for further treatment. A referral is required to schedule.

What does in-network mean? HMOs function as part of a provider network of affiliated organizations. This helps HMOs keep costs lower, and HMOs typically offer the lowest out-of-pocket costs as a result.

HMOs generally do not pay for out-of-network care except in the case of emergencies.

What is a “POS?”

POS stands for “Point of Service.” Like an HMO, a POS will manage care through your PCP. Unlike an HMO, you will not need your physician’s permission to visit other doctors in or out-of-network.

In this model, the average costs are higher out-of-pocket than for an HMO. Receiving care out-of-network will cost more out-of-pocket.

What is a “PPO?”

PPO stands for “Participating Provider Option.” A PPO generally offers the most flexibility but at a higher out-of-pocket cost. With a PPO, you will not need to choose a regular doctor or get referrals to receive specialty care. If you need or choose to go out-of-network, a PPO will pay a portion of out-of-network costs.

Contact Taake Insurance Agency, serving Columbia, IL, for your questions and to get a quote.

We live unpredictable life. Today, you might be okay, but tomorrow you may suddenly be involved in an accident or fall ill. Given the erratic nature of life, you need to protect those you love with life insurance. But if I am single, do I need life insurance? It depends. Taake Insurance Agency of Columbia, IL looks at instances where a single person may need life insurance.

If you have a debt

Do you have a mortgage, car, or student loan? You should invest in life insurance to care for your debts when you die. Otherwise, you may leave the burden to your cosigners and loved ones.

If you have dependents

You may be single, but that doesn’t mean you don’t have dependents. If you support your siblings or parents financially, investing in life insurance would be a good idea to ensure they aren’t financially crippled when you die.

You plan to start a family.

Today you may be single, but you have plans to get married and have children. It’s a good idea to invest in life insurance now; when you are young and healthy — you may enjoy affordable premiums.

If you have a life insurance policy today, all you need is to update your policy when you get married or have children.

You own a business

When you have business partners, it can be challenging for them to cope in your absence. Life insurance buys them time as they think about the next move. Besides, life insurance proceeds can help settle debts if you have business loans.

Do you still need more information about life insurance in Columbia, IL? Please talk to Taake Insurance Agency. We may not have all the answers — just the life insurance ones.

You probably already have your plate full if you are a small business owner. However, you still need to ensure you have enough coverage to protect yourself and your business. Taake Insurance Agency in Columbia, IL offers commercial insurance, including property and liability risks. You may be able to bundle products to save money, depending on the coverage you need.

While certain businesses must have workers’ compensation, Illinois does not require general liability and other business policies. However, there are at least five reasons it makes sense to get it.

1) Protects Your Physical Location

If you own a commercial building, you’ll want to protect it in case of vandalism or fire. Work with your agent to find the property coverage you need.

2) Covers Business Equipment

Many businesses invest a significant percentage of their budget in equipment. Whether you have expensive refrigeration units or equipment needed to complete work orders, repairs and replacement costs can derail your entire year. Therefore, you may want to add equipment coverage to your policy. Remember that business insurance typically doesn’t cover regular wear and tear on equipment.

3. Handles Non-employee Injuries on Your Premises

If you or an employee slips and falls on the job, you’ll have to rely on workers’ compensation to cover the claim. However, if a customer, client, or guest falls on a slippery floor, your commercial insurance will probably handle the medical and legal expenses. Talk to your agent to ensure you have sufficient liability protection in place.

4. Covers Injuries in Case of Business Product Defects

Whether you sell food, kitchen gadgets, or cars, product liability insurance baked into your commercial policy can protect you in case of product-related injuries. Gadgets and gizmos are great, but there’s always a chance someone could cut their finger on a sharp edge or get sick after eating at your restaurant. With the right insurance, you won’t have to worry about footing medical bills and damages out of pocket.

5. Guards Against Business Interruptions

Business interruption insurance can keep you afloat if you have to shut down due to unforeseen circumstances. Covered events might include natural disasters or fires. To purchase business interruption insurance, you must first have a commercial insurance policy.

Contact Taake Insurance Agency in Columbia, IL for more information on commercial insurance.

Your employer now must legally provide health insurance, and the government sets minimum standards as to what the coverage includes.

You still might not have the coverage you want, but you can add a supplemental or secondary policy to your medical coverage. Most people think of supplemental medical as related to Medigap insurance. You don’t have to be on Medicare or Medicaid to purchase a supplemental medical policy.

You can purchase your own policy and the one your employer provides. At Taake Insurance Agency, serving Columbia, IL, we can help you find the secondary medical coverage that rounds out your employer-provided one.

What might a secondary policy offer? You can obtain a policy that provides drug coverage, preventative care, or hospital coverage. Some supplemental policies cover a pre-existing condition that the employer’s group plan exempts.

You can have complete medical coverage by purchasing one of these policies. With medical insurance, no such thing as a one-size-fits-all policy exists. You build your own coverage based on your own medical needs. We can help you find medical coverage for your family, too. Your employer may offer family plans. You can purchase a plan that covers your entire immediate family, too.
Taake Insurance Agency doesn’t list every option on our website. Instead, please email or phone us for a consultation. We will meet with you online or in person to explore the range of suitable possibilities to address your medical coverage needs.

An option exists for nearly everyone. Call or email Taake Insurance Agency today. We serve the residents of Columbia, IL with the medical insurance they need. Let us help you find the right supplemental medical policy.