Health Insurance, Life Insurance and 401k info for
Baltimore Marine Industries (BMI) Employees

Health Insurance

Jeff Motsco and TheInsuranceNet.com have provided steps for the employees of BMI to take to replace the insurance previously provided by the company. If the steps are followed, you should be able to set up the new plan so you and your family aren't without health insurance for even one day. We'll discuss deductibles between $400 and $1000, but you also have options as low as a $0 deductible and as high as a $10,000 deductible. We have many options whether you're looking to just cover you and your family from a catastrophe or if you want high quality health care for everyday needs. Either way, you don't need to risk not being covered -- even for one day. It is advisable to apply for a couple of the options at the same time. Option 1 and 2 don't require a deposit with the application making this easy for anybody to do.

Option 1 - CareFirst/BlueCross BlueShield Personal Comp
This is probably the best option for those who can qualify. You have the freedom to choose any doctor; however, it is better to choose doctors who participate with the plan. You have $100 up to $10,000 deductible options. The most popular deductibles are $400 and $800. All of the deductibles have 80/20 coinsurance except for the $400 and $800 deductibles which are 75/25 -- meaning after the deductible the insurance company pays $75% of the covered expenses. Each deductible also has a maximum out-of-pocket limit. See brochure for complete details. This takes 4-6 weeks on average to find out if you're approved, so fill out the application and submit it today.


___Sample Rates
_______$400 deductible for individual range from $118/month for a 30 year old up to.
_______$226/month for a 64 year old.
_______$800 deductible for individual range from $92/month for a 30 year old up to.
_______$177/month for a 64 year old.

Download brochure/application package
Download application only


Option 2 - CareFirst/BlueCross BlueShield Personal Comp HIPAA
This is the same plan as Option 1, but falls under HIPAA. HIPAA is a law that allows, in certain circumstances, a health insurance plan to provide coverage without regard to the individual's health status and pre-existing conditions.  The only deductible options for this plan are $400 and $800. This coverage should start the very next day after your group coverage ends if you submit your application immediately. Everybody should fill out this application and return it with your "Certificate of Credible Coverage" (provided by BMI) and a letter stating that COBRA was not an option for you. This is your "ticket" to get this coverage. Everyone should qualify for this coverage, but it's your responsibility to apply within 63 days after your group coverage ends. Otherwise, this coverage will not be an option for you. It is more expensive than Option 1, but you should submit an application for both. If you qualify for Option 1, you simply disregard the bill for the HIPAA plan (Option 2).


___Sample Rates
_______$400 deductible for individual range from $236/month for a 30 year old up to.
_______$452/month for a 64 year old.
_______$800 deductible for individual range from $185/month for a 30 year old up to.
_______$354/month for a 64 year old.

Download application/rates


Option 3 - MHIP - Maryland Health mhipapp.pdf Insurance Plan
This is your other HIPAA option. This option should be considered by those who take many prescription medications. There are no limits for prescription drugs, but there is a separate $250 deductible for the drugs. You'll still want to apply for Option 2 to get coverage started sooner. The earliest that this will start is October 1, assuming you return all required applications and information to TheInsuranceNet.com offices prior to September 15th. If you do take many prescription medications, you probably don't need to apply for Option 1. If you're unsure, please call our office.


___Sample Rates
_______$0 deductible for individual range from $297/month for a 30 year old up to.
_______$523/month for a 64 year old.
_______$1000 deductible for individual range from $185/month for a 30 year old up to.
_______$308/month for a 64 year old.

Download application
Download rates
Download coverage overview

The MHIP plan is probably your best bet if you qualfiy for the Trade Adjustment Act tax credit where the federal government pays 65% of you health care costs.

Download Health Coverage Tax Credit Booklet


Dental/Vision Options
With Option 1 or Option 2 you can check the box on the application and have dental coverage included with your health plan for an additional cost. However, if you have access to the Internet, we'd recommend our BeniCard which covers dental and vision for the whole family at $9.95 per month. BeniCard is not insurance though; it is a discount plan available only through our web site.

BeniCard Information


Life Insurance Options
WIf you lost your life insurance, you should be able to get you new coverage. Your health status, age and amount of insurance desired will dictate the final cost of the coverage. Contact us for details.


Pension/401k/IRA Options
We can consolidate all of your retirement plans into one account where you hold your current investments or purchase other mutual funds, stocks, bonds, or annuities. This would be an option for those needing income now for retirement or those who are considering retirement at a later date. Please call our office for details.

Download 401k Rollover Forms