If you are using Photoshop, Why can’t you just type? Then, move, resize, transparency, colour, whatever. It will automatically be on a new layer.
Or why not create a brush. Open a new white canvas say 800x800 pixels and draw a shape for an insert/bubble, then create the brush by > edit, define brush preset, name the brush, save ok. Your new brush will be the last one on the brush tab. If you then put a new layer above your image and with the new brush. Useing it as you would any brush, set the size, colour, opacity then click on that layer you will then have a transparent bubble that you can fill with any colour. Any typing will as said above, be automatically on its own layer, allowing you to move it, resize etc. the same editing ability will also be available to the bubble layer.
Rhodese.