Compare Individual Health Insurance Plans For Coverage You Can Afford

admin — Wed, 10 Mar 2010 03:02:09 +0000

Many Americans are not covered under a group medical plan, and they may need a private plan. Here are some groups of people who may need to buy their own coverage.
Self employed people usually need to purchase a family medical policy. Some groups of self employed people may be able to join a professional or business association for negotiated rates. Employees of small businesses may not work at a company that provides group health. When a very small business only has a handful of employees, the cost of group health plans can be too expensive to justify for the business. owner. Of course, the small business owner would also need to cover his or her family too. Contract employees probably do not have group benefits either. Even if a contract or temporary employee works for a placement firm, their access to health insurance may be limited. Unemployed people may be entitled to a COBRA extension which allows them to continue their group coverage for several months. However, these extension are not universal. Some companies do not have to offer them. The price tag for a COBRA extension of group medical benefits also comes at a high price. While employed, the ex-employee probably only paid a portion of the premium. Terminated employees usually have to pay the entire premium, and it is not unusually to see that that this bill comes to more than $1,000 a month. Students may be covered under a parent’s health insurance if they are still single and young enough. However, even if that student would be qualified for their parent’s health insurance, they may go to a school that is outside of the range of the plan network, and so services will be more expensive. Some insurers sell student health insurance policies, which are usually inexpensive, to cover this group of younger, college students.

Unemployment Health Insurance

Since unemployment is on many people’s minds these days, I have seen a lot of new stories about possible aid for newly terminated employees so they can extend their COBRA group health benefits. So that may reduce the actual out of pocket cost of keeping group health, even after a layoff. This addresses the problem for the newly unemployed, but not for the large group of people who have been struggling with health insurance for years.

Who Can Find Affordable Health Insurance?

Fairly young and / or healthy people should be able to qualify for fairly affordable major medical premiums from private companies. It is important to compare the costs and benefits of several different types of plans. Consumers should think about their own health needs and risks, and purchase a plan that will cover them, but not purchase so much coverage that the policy cannot be afforded.

For instance, if a young woman thinks she may get pregnant, be very careful when considering private plans because normal pregnancy coverage is rare on the individual market. And if a terminated employee has a health condition, they should also be careful. Again, private companies do not have to accept every applicant, and people should make certain that they can get accepted before they cancel a COBRA extension.

Alternatives To Private Medical Plans

Of course, county, state and federal health programs do exist to cover people who cannot access other options. There are usually some income restrictions, or an applicant must show proof they have been declined by an insurer.

Author: Marilyn Katz
Source: ezinearticles.com

Coverage for College-Bound Kids: Finding Health Insurance for Your Student

admin — Wed, 03 Feb 2010 06:28:02 +0000

You’ve done all you could to prepare your child for college. You’ve set rules, stated guidelines and communicated your expectations. You’ve done your best; you’ve covered all the bases. Or have you?
Identifying Misconceptions
When it comes to sending their child off to college, many parents make the all too common mistake of assuming that their child will be covered under their health policyand that their coverages and benefits will be the same while they’re away at college.
Unfortunately, that’s not always the case. Many insurers still cover dependents until age 23, but many are terminating dependent coverage soonersome as young as age 18. Furthermore, college students that attend school out-of-state may not receive all their benefits or may be charged additional fees for seeing physicians out of the insurer’s network.
So what’s a parent to do?
The Good News
Fortunately, if a student isn’t fully covered on a parent’s health insurance plan, there are affordable alternatives.
Generally speaking, college students and their parents tend to seek health plans from one of three places: the student’s college, a private health insurer or other student organizations.
The majority of colleges and universities now offer student health insurance for their attendants, which often consist of two or three policy options. While traditionally less expensive, the costs and coverages of university-sponsored health plans tend to be more fixed, which may not meet needs of students with pre-existing conditions.
Surprisingly, private health insurance for students is fairly inexpensive. Private health insurance is an especially attractive option for parents and students because it typically covers a wider range of benefits. Your chances of snagging discounts are also greater if you buy a student policy from a private insurer.
Other student health plans are available through student-help organizations like the American College Student Association (ACSA). Organizations like ACSA specialize in short-term health insurance and study abroad coverage, which is especially appealing to students wishing to travel.
Tips to Remember
Making sure the student in your life has adequate health insurance is important. As you ask questions and shop for health plans, consider the following tips:
Know the student’s needs. Does the student have allergies? A need for travel vaccines? Knowing what your student needs ahead of time will help narrow your policy options.
Know how long the student needs the coverage. Many insurers allow you to purchase policies that last anywhere from three months to a yeardetermine how long the student will need the policy to avoid paying for extra coverage.
Compare multiple policies. More health insurance options mean more options to save. Don’t forget to compare policy benefits, deductibles and limitations while searching for cheap health insurance.
Don’t skimp on major medical. Before buying a student health policy, make sure it covers major medical expenses. The cheapest policy in the world won’t save you money if it doesn’t cover major medical expenses!
Lessons Learned
Whether you’re a student yourself, or a parent seeking health insurance for a student, it’s important to understand that health insurance is an important part of staying healthy in college. Use the tips above to help you find the bestand the cheapeststudent health insurance policy!

About InsureMe

Megan L. Mahan is a copywriter and insurance information expert with InsureMe in Englewood, Colorado. InsureMe links agents nationwide with consumers shopping for insurance. Specializing in auto, home, life, long-term care and health insurance quotes, the InsureMe network provides thousands of agents with insurance leads every year. For more information, visit InsureMe.com.

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Compare Individual Health Insurance Plans For Coverage You Can Afford

Coverage for College-Bound Kids: Finding Health Insurance for Your Student