What is the Difference Between an HMO and a PPO?

Health insurance can be confusing for first-time buyers living in Chandler, AZ. Most insurers require you to choose between an HMO and a PPO, yet you may not understand what these terms mean or how they affect your access to medical care. San Marcos Insurance Group can help explain the differences and direct you toward a policy that meets your needs.

The Size of Your Healthcare Network

HMO is an acronym for Health Maintenance Organization, while PPO stands for Preferred Provider Organization. Choosing between the two isn’t complicated when you understand the differences. Both involve a network of healthcare providers. The main differences between those options are the size of the provider network, the flexibility of coverage, payments for in-network and out-of-network doctors, and monthly premium payments.

HMO plans generally have lower costs for patients. In exchange for the lower cost, you have a smaller network of providers and must stay within the network to get medical care. Most insurers also require you to select a primary care provider who can refer you to a specialist when needed. These plans only pay for care within the network except when you have an emergency.

PPO plans typically have higher monthly premiums in exchange for flexibility. You can see a provider outside the network, but co-pays are generally higher. Most don’t require you to choose a primary care provider. You can also see specialists at any time without a referral.

Which Plan is Better for Me?

An HMO may be the best option if you are on a tight budget. However, if you already have a doctor you like, you may prefer a PPO. The San Marcos Insurance Group staff serving Chandler, AZ, can help determine which health plan is best for you. Contact us today for an appointment.

Do You Need Commercial Insurance for Your Home Business?

Running a business from your home in Chandler, AZ can reduce overhead, let you work from home, and keep startup costs low. It’s still important to make sure your business is insured, though. Here’s a look at whether your home business should be protected by commercial insurance.

Evaluating Your Homeowners Insurance Coverage

Homeowners insurance policies sometimes provide based coverage for home-based businesses. Not all policies do, however, and coverage can be quite limited when provided. It might apply to basic equipment like a printer, computer, minimal inventory, and some liability lawsuits. 

If your business only has basic needs and you can access coverage through homeowners insurance, additional commercial insurance might not be necessary. We at San Marcos Insurance Group can help you evaluate your homeowner’s policy coverage.

The Importance of Commercial Insurance

If you can’t get adequate coverage through a homeowners policy, you should probably get commercial insurance for your home business. 

Plan on purchasing commercial insurance if your homeowner’s policy doesn’t provide any coverage, if your business has major assets, or if major liabilities come with your work. You could also need commercial insurance if your business has any particular risks, such as product risk if you sell potentially dangerous products.

Ready to Safeguard Your Home Business?

If you’re operating a business from your home in Chandler, AZ, don’t wait to find out the hard way that your insurance coverage is inadequate. Contact us at San Marcos Insurance Group, and we’ll help you ensure your business is properly covered. We can assist with adequately covered homeowners insurance and many other types of policies.

Determine When to Upgrade Your Health Insurance Policy

Unexpected medical problems can be burdensome. One way to ensure that you receive the care you need is by determining when to upgrade your health insurance policy. Review the suggestions below. Then, contact an agent who serves Chandler, AZ.

Standard Procedures

Compile a list of the standard health procedures you need. Compare the information you record with your health insurance policy’s coverage. If any of the procedures aren’t currently covered by your policy, it may be a good time to upgrade. 

Recurring Issues

Consider the recurring health issues that have led to you needing to be seen by a medical professional. If these medical problems are likely to continue, consider how much coverage you currently have.

It may be in your best interest to upgrade your health insurance policy. Doing so will give you the coverage you need when it is time to be treated by a medical practitioner.

Medical Supplies

Review your insurance coverage if you often need medical supplies not covered by your existing insurance policy. Your policy will specify which types of supplies are covered by your insurance.

If you notice that many items you need aren’t listed, review some health insurance policies that cover the medical supplies you need.

Contact San Marcos Insurance Group

You deserve the coverage you need to remain healthy throughout your lifetime. Learning about insurance products will help you select the type of coverage that will benefit you most.

Contact an agent who serves San Marcos Insurance Group to set up an insurance consultation. Your agent will prepare your health insurance paperwork. They will also inform you about the type of coverage that you will be equipped with.

Do All Businesses Need Commercial Insurance?

Understanding the Importance of Commercial Insurance in Chandler, AZ

Are you a business owner in Chandler, AZ, and are you questioning the necessity of commercial insurance for your venture? San Marcos Insurance Group acknowledges the significance of protecting your business interests and possesses the expertise to guide you through the complexities of commercial insurance.

Understanding Legal Requirements and Industry Standards

Although commercial insurance might not be legally required for all businesses in Chandler, AZ, certain industries or types of businesses may have specific legal stipulations or industry norms regarding insurance coverage. Understanding your legal obligations and industry standards is crucial to protecting your business assets and avoiding potential liabilities.

Ensure Protection Against Liability

One primary purpose of commercial insurance is to shield your business against liability claims arising from third-party injuries, property damage, or other unforeseen incidents. Without sufficient insurance coverage, your business could face significant financial risks in case of a lawsuit or liability claim.

Safeguard Your Property

Commercial insurance also provides protection for your business assets, such as buildings, equipment, inventory, and other valuables. In cases of fire, theft, vandalism, or natural disasters, commercial property insurance assists in covering the cost of repairs, replacements, and restoration. This allows your business to bounce back and resume operations swiftly.

Guarantee Financial Security and Peace of Mind

Investing in commercial insurance offers financial security and peace of mind for you and your stakeholders. With the proper insurance protection in place, you can focus on strategizing your business growth without worrying about unforeseen setbacks or financial losses.

Whether you are a small startup or a large corporation in Chandler, AZ, commercial insurance from San Marcos Insurance Group offers the protection and support your business requires. Contact us today to learn more about our comprehensive insurance solutions and secure your business’s future with confidence.

Does my business qualify for a business owners’ policy (BOP)?

We introduced business owners’ policies (BOPs) in an earlier blog. In this blog, we expand on this valuable bundle of commercial insurance policies and explain the qualifications to purchase one. Because BOPs offer four common insurance policies for a lower premium than buying them separately, the insurance industry limits their purchase to the lowest-risk companies.

BOP Qualifications

Although each insurance company uses slightly different criteria, they all have four requirements in common. A business must:

  • Employ fewer than 100 people.
  • Maintain a small office or commercial space
  • Generate less than $1 million in annual revenue
  • Need less than one year of business interruption insurance.

San Marcos Insurance Group may vary its requirements slightly depending on the underwriter, but every business in the Chandler, AZ area can rely on us using these four overarchingly.

Why Choose a BOP?

Besides the money savings, a BOP includes commercial property coverage, bodily injury and property damage liability, personal and advertising injury liability, and business interruption coverage. Those four policies cover the major needs of a small or mid-sized business.

The flexibility of a BOP lets a business add to it, using its policy package as a foundation for building the entire commercial insurance package of the business. Depending on your company and its operating processes and procedures, you might need to add commercial auto insurance or malpractice coverage. A business can add any commercial policy to a BOP.

Contact San Marcos Insurance Group Today

Call our office at San Marcos Insurance Group or send an email to talk about whether your Chandler, AZ business qualifies for a business owners’ policy (BOP). Let us help you properly insure your company so that it can grow safely.

Purchasing a Second Health Insurance Policy

Many Chandler, AZ, employers offer relatively comprehensive health insurance policies, but what if you need to address a need that your employer’s insurance plan doesn’t cover? Many retired people use Medicare, but it does not cover everything. Today’s article in the San Marcos Insurance Group blog explains how to fill those gaps with a second or specialty health insurance policy.

Buying a Second Health Policy

Individuals can purchase a health insurance policy besides the one they obtain through their workplace, Medicaid, or Medicare. A person can add a second health policy that covers only their prescriptions or a second, full health policy that covers items their initial policy does not. Some of these private health insurance plans require a medical examination before you can buy them. Others, such as Medicare Part B, do not require one, but you must choose Part B when you qualify and register for Part A. Only by having both will you have hospitalization and doctor visit coverage unless you purchase private insurance.

Specialty Health Insurance

Buying a full health policy can fill gaps, but so can a specialty health insurance policy. The term specialty policy refers to an insurance policy that covers one type of medical need, such as dental, vision, hearing, or prescription medication coverage. If your employer provides medical coverage but not dental or vision, you can purchase a specialty policy to cover either need.

Contact Us Today to Build Your Health Insurance Package

At San Marcos Insurance Group, we provide consultation meetings and insurance reviews for Chandler, AZ residents. Contact us via email or phone to review your health insurance needs. Let us help you build your insurance package.

Sustainability and Green Business Insurance: The Future of Eco-Friendly Coverage

In a rapidly changing business landscape, sustainability and environmental responsibility have become vital priorities for companies of all sizes and industries. In and around the Chandler, AZ area, green business insurance is emerging as a significant component of this movement. It is allowing enterprises to align their insurance coverage with eco-friendly initiatives. 

Understanding Green Business Insurance

Green business insurance addresses the unique needs and challenges faced by companies committed to sustainability. It offers coverage options promoting eco-friendly practices and supporting companies in reducing their environmental impact.

Reducing Environmental Footprint

One of the primary objectives of green business insurance is to assist companies in reducing their environmental footprint. This can be achieved through various means, such as:

  • Eco-Friendly Building Practices: Insurance policies may encourage businesses to adopt sustainable construction and renovation practices, focusing on energy efficiency and eco-friendly materials.
  • Green Transportation: Companies can be incentivized to adopt electric or fuel-efficient vehicle fleets, reduce emissions, and promote cleaner transportation methods.
  • Renewable Energy Initiatives: Green insurers often support companies investing in renewable energy projects, such as solar panels or wind turbines, to reduce their reliance on non-renewable energy sources.
  • Waste Reduction: Policies may promote waste reduction and recycling programs within companies, ensuring responsible waste management practices.

Incorporating Sustainable Practices

Green business insurance encourages companies to adopt sustainable practices in their day-to-day operations. This includes using environmentally friendly products and processes, promoting energy efficiency, and reducing water consumption.

Financial Incentives

Green business insurance often includes financial incentives for companies pursuing eco-friendly initiatives. These incentives can be premium discounts, rebates, or grants for sustainability projects.

San Marcos Insurance Group Can Help You

At San Marcos Insurance Group, we can help answer questions concerning commercial insurance. We serve the Chandler, AZ area. Contact us today. 

What are the benefits of having a health insurance plan in Arizona?

Most people in the Chandler, AZ area know proper insurance is very important. Those looking to improve their personal insurance situation should carefully evaluate their health insurance needs. There are a lot of advantages that come with having health insurance when you are here. 

Avoid Major Costs

If you ever need an operation, get seriously ill, require medication, or need other medical support, you will find the costs associated with it can be extremely significant. However, if you have a health insurance plan, it can help you avoid many of these costs, as you can receive discounts and insurance coverage and have annual policy caps. 

Encourage Healthy Lifestyle

An added benefit of having health insurance is that it can encourage a healthy lifestyle. Seeing a doctor regularly is very important for your overall health. Not only can you receive an evaluation, but you can receive guidance and tips for living a healthier lifestyle, which will help you feel your best. 

Avoid Penalization

Health insurance is also a good option because it will help you avoid penalties. Health insurance is now a requirement for all people, and you must offer evidence of coverage when filing tax returns. Having a full plan can help you avoid the penalties that come if you do not comply with the law. 

Having a full health insurance plan is very important if you are in the Chandler, AZ area. When you want this type of coverage, it would be a great idea to call our team with the San Marcos Insurance Group. Our team with the San Marcos Insurance Group knows how important it is to select a proper health plan and will give any guidance necessary to create your next policy. 

Questions to ask before choosing your health insurance

Health insurance is vital to your well-being. The policy you choose will be your coverage for a year, and making sure you make the right choice is critical. Knowing the right questions to ask can make all the difference. In Chandler, AZ, our San Marcos Insurance Group agents are here to answer your healthcare questions. 

Is my doctor in the network?

Every carrier has a network of providers that they have contracted with. The prices are agreed to so that you know what services will cost you before you get care. If you have a primary care physician or specialist you prefer to see, you will need to check the list of providers that can be used. Depending on the type of managed care you have, you may still be able to see your doctor, but you may have to pay more per visit.  

What is the yearly deductible?

To be considered a high deductible policy, the year deductible must be at least $1400 for an individual or $2800 for a family. The higher the deductible, the more out-of-pocket you will need to pay, but in most cases, the lower the premium will be. 

What type of managed care is the policy?

There are three basic types of managed care. HMO, POS, and PPO. An HMO is the most restrictive, and the PPO is the least restrictive. A PPO lets you choose an HMO or PPO for each service you receive. 

What is the monthly premium? 

In practical terms, the premium has to be considered, but it is not the first thing to consider when choosing the right health insurance coverage. 

Contact San Marcos Insurance Group in Chandler, AZ when you are ready to discuss your health insurance coverage. Give our office a call today. 

Does Commercial Insurance Protect Your Perishable Inventory?

If you are searching for insurance to cover your business and your perishable inventory, we can help. The San Marcos Insurance Group team provides a range of insurance options to the residents and business owners in and around the Chandler, AZ, area. 

Commercial Insurance Coverage

To protect your business and any potentially perishable inventory, you’ll need to know what insurance coverage offers. Commercial insurance varies from policy to policy. If you have perishable inventory, you’ll need to secure that particular type of coverage.

Perishable inventory insurance is designed to prevent losses associated with risks covered by a policy protecting against spoilage and other hazards.

If you have perishable inventory, speaking with one of our highly knowledgeable insurance agents is the best course of action. They can assist you with learning more about which coverage options meet your needs and offer the most coverage for your inventory. Once you know which policy options are best, we can thoroughly explain the terms and conditions to ensure you are an informed buyer.

We aim to deliver a blanket of protection for each business owner, allowing them to operate confidently, knowing their investments are protected.

Learn More Today 

If you would like to learn more about the policy options we offer for business owners in the Chandler, AZ, area, we encourage you to call or stop by the San Marcos Insurance Group. Our agents are happy to schedule appointments for consultations or answer any questions about the range of insurance options we offer. Don’t risk inventory losses by guessing about your insurance coverage needs. We can help you every step of the way.