I guide individuals and families toward a self-reliant retirement while leaving a meaningful legacy. For businesses, I craft employee benefits to attract and retain top talent
[Employee Benefit] Should You Claim From Company Insurance or Personal Health Insurance? 💡 The Last Payor Rule Your personal Integrated Shield Plan is often the last payor, meaning you’re required to claim from other sources, like company insurance, first. However, for a smoother claims process, you might want to claim from your personal insurance first. Here's why: 1️⃣ Faster Processing Personal health insurance claims are usually assessed and resolved more quickly than company insurance. 2️⃣ Deposit, Not Full Payment Hospitals are linked to the nationalwide Integrated Shield Plan network. This allows them to verify coverage directly with insurer and collect only a deposit upfront rather than the full medical bill. In contrast, with company insurance, you’ll typically need to pay the full amount first and then wait for reimbursement. This can be challenging if finances are tight or if you’re using a credit card to settle the payment. Once your personal insurance claim is approved, you can then take your time to claim from your company insurance without the financial stress of covering a large upfront payment. Key Reminder: It’s essential to file claims with your company insurance where applicable, even if you start with your personal policy. This ensures compliance with your Integrated Shield Plan insurer’s terms (see the image for a sample clause) and helps with reimbursement coordination. This strategy can help you reduce financial strain and avoid unnecessary delays. Let me know if this tip is helpful!
