There has been a lot of debate surrounding the release of the CoVid vaccine. Is it safe, is it effective, is Bill Gates using it to create a super race that will automatically download windows updates at the most inconvenient times, etc.? I don’t want to address any of those issues. I do want to let you know how your health insurance will work as you consider getting vaccinated.
The US Government has said that the vaccine will be free for all Americans. So, what does that really mean, and how does it work?
This is one of those rare moments when the government is being mostly transparent, but there may be some costs involved. The vaccine is being rolled out in stages. The stages are determined by each state’s government, but most are similar. First responders, front line workers (doctors, nurses, and teachers), followed by high-risk communities, and eventually trickling to the rest of the population.
When you go in for the vaccine, you will need to provide personal information including your SSN, some health background, and your health insurance info. The question I get most is “If this is free, then why do you need my insurance info?”. Here’s the catch – the vaccine is not always completely paid for by the federal government, and providers are allowed to charge an administration fee for giving you the shot. If you are uninsured, then the cost is covered by the government. If you have health insurance, then the provider will bill your health insurance company. While any plan that is ACA or group coverage is required to pay the entire cost, other insurances are not. If you are covered on a health share, short term plan, a fixed benefit plan, or a grandfathered health plan, you may still have some out-of-pocket costs.
In order to find out how your plan is covering the vaccine and the administration costs, you need to call your insurance directly. I advise doing this before you get the vaccine so that there aren’t any unpleasant surprises waiting in your mailbox.
Norm Wilkinson is a health insurance agent licensed in 32 states. He is known as The Happy Health Insurance Guy. He specializes in helping individuals, families, and small businesses find better coverage at lower prices. If you would like to discuss your options, he can be found on social media as The Happy Health Insurance Guy or at The HappyHealthInsuranceGuy.com. He can also be reached directly at 801-687-9191.