Affordable Ohio Health Insurance Plans

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How Safe Is Your Ohio Insurance Policy?

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Are you concerned about the safety of your insurance here in Ohio? Should you be concerned? Probably. You pay (and sometimes invest) a lot of money throughout your lifetime on insurance coverage so you deserve to know where the money is going.

A $170 billion federal bailout is the only thing keeping insurance heavyweight AIG afloat. And many other companies are losing millions of dollars every quarter. Insurance companies invest heavily in the stock market and real-estate market…which have generated massive losses in the last 12 months.

But…don’t worry. Your policy is quite safe! The Ohio Life and Health Insurance Guaranty Association was created to protect policyholders, up to specific limits, against financial failure of an insurance company licensed to sell those types of policies in the state.

You can read more about this Association here.

A few additional points to consider:

·        Health Maintenance Organizations (HMOs) are not included

·        Policies sold by insurers not licensed to do business in Ohio are not included.

·        The Guarantee Association can provide this coverage because it collects money, through assessments from insurance carriers here in the Buckeye state.

·        The Ohio Department of Insurance regulates the Association.

Many consumers are worried about the impact of “The Affordable Care Act” on their personal and business health insurance policies. Although rates are expected to rise when the Ohio Healthcare Exchange is fully functioning in 2014, you can help protect yourself by staying informed and applying for the right plan.

Safest Insurance Companies Ohio

We Research Ohio Insurers

An experienced and reliable website (like ours) will guide you through the process of evaluating, comparing and purchasing a plan, so you can be certain your coverage is with a safe carrier. There are plenty of questionable policies that have low ratings or are simply not rated at all.

When purchasing a policy, make certain the carrier is an “A” rated company and licensed to do business in Ohio. We can always research and verify the background of any company. If you have any questions regarding the safety of any company, please contact us.

United HealthCare of Ohio…Affordable High-Quality Health Insurance

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United HealthCare of Ohio (UHC) offers more than 100 different health insurance policy variations. For a single person, monthly rates can range from $30 to $500 per month. Both catastrophic and comprehensive policies are offered along with HSA, student and small-business options. UHC markets their contracts under the “Golden Rule” name.

To help you decide which  policy is the best fit for you, we have briefly reviewed (below) some of the most popular options.

High Deductible (Catastrophic) Plans

It is your responsibility to pay for any routine health care expenses until your deductible is met. Once you meet your deductible, covered costs are paid by the policy. Generally, your deductible is higher than most other plans. But premiums on this type of  policy are usually fairly low. The most commonly selected deductibles are $5,000 and $7,500.

Plans To Consider: “Saver 80,”  and “Plan 80”

Traditional Copay Plans

Golden Rule Ohio Family Coverage

Ohio Family Health Insurance Through UHC

Copay plans offer similar features and benefits as traditional employer-sponsored plans. Golden Rule offers many plans that feature a set fee for office visits and 100% coverage for preventative visits. Normally, 100% of your exam and history costs are covered after the copay. Drug prescription card benefits are often included. There are many available riders so we can customize benefits to match your needs.

Plans To Consider: “Copay Select” and “Copay Saver”

Health Savings Accounts (HSAs)

United HealthCare offers HSAs with many deductible and coverage options. HSAs combine a high-deductible, lower-cost health insurance plan with an optional tax-favored side account. They will continue to be available when the State Exchange is up and running.

With an HSA Plan in Ohio, you may deposit money that you have saved on premiums into your tax-sheltered account. These savings can subsequently be used to pay your qualified medical, vision and dental expenses. Money that you deposit can be tax-deducted that year, even if it has not been spent yet. Of course

Plans To Consider: “HSA 100” and “HSA 70”

Short-Term Medical Plans

If your health insurance need is six months or less, than a short-term policy might be appropriate. Periods of coverage range from one to six months (and sometimes longer) and policies are usually approved within 48 hours. If you are unemployed or between jobs, this type of coverage is often your best option.

Plans To Consider: “Short Term Medical”

Of course, there are many excellent-rated companies here in the Buckeye state. When we review the policies that will provide the best benefits at the lowest cost, UnitedHealthCare may not always be the perfect fit. As an independent Agency, we will ultimately recommend the highest-rated carrier with the best pricing.

Ohio Health Care Doesn’t Need More Government Expansion

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Expanding government health care programs must be stylish. Everybody is getting into the act. First President Obama.  And now, Ohio Governor Ted Strickland wants to give health insurance to every child in the state. A nice gesture, but the method is quite cost-ineffective.

Marc Kilmer of “The Times-Gazette” in Hillsboro, says it best:

 

Much of the problem of uninsured children could be solved by simply getting those eligible signed up for coverage.
Instead, politicians like Governor Strickland want to expand coverage to those with higher incomes.

Children in families with higher incomes not only have a lower uninsured rate than children who are already eligible for the program, their parents are more likely to be able to afford private coverage.

 

 

 September 2009 Update: It appears that the “public option” is off the table. That’s good news for everyone.

May 2013 Update: Wow! That 3 1/2 years went fast!  The public option has not been discussed for a few years and is not likely to be mentioned again, especially now, with three government scandals rocking the political world. We will start taking Ohio State Marketplace applications in October. It should be a very busy time.

Ohio Medical Discount Plans

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Ohio Medical Discount Plans

Ohio Medical Discount Plans

 

Ohio medical discount plans. The Good: They don’t cost much. The Bad: A lot of things. The Ugly: Even more things.  You may have seen these slogans on television or online:

“No deductibles or copays”

“Discounts up to 50%”

“All pre-existing conditions accepted” “

Call Now. This offer ends at midnight.”

Quite simply… An “Ohio Medical Discount Plan” is not insurance since the member is responsible for paying all medical bills. These plans simply offer lower prices on services that accept these discounts. Most often, you can bargain with many of the providers and negotiate some of the lower prices yourself. Also, legitimate policies contain “essential health benefits in Ohio,” while non-approved options do not.

According to the Federal Trade Commission (FTC), some of these policies claim to offer huge discounts for a wide range of services, including hospital stays, doctors visits, prescription drugs and dental exams. And many of these contracts gladly take consumer’s money without offering much in return. If you’re interested in the legal definition from the Ohio revised code, here is the link.

They are also spreading. Many companies from outside of the Buckeye state are targeting residents. To lure customers, it’s quite common they’ll make unusual promises about savings and benefits. The salespersons marketing them, often don’t need (or have) a license or healthcare background.If you ask specific questions, you’ll likely not get a direct answer in return.

Mysterious upfront “administration” charges and hidden expenses also tend to show up with these types of policies. Also, after you have been treated, you may learn that your $5,000 bill has only been reduced by $400 and not the $4,000 you expected.

But help is on the way. In 2007, Ohio law placed new requirements on discount medical plans in an effort to provide greater consumer protection. This law requires medical discount contracts to have written agreements with network hospitals and doctors to help insure consumers received promised discounts. In fact, the  Department of Insurance can investigate and take action against medical discount plans that violate the law.

In rare instances, where members are uninsurable, and the  Open Enrollment plan is too expensive, they may be the only option. But if you are forced to consider this type of coverage, please make sure your doctor accepts the card and follow these suggestions:

 

*Call your local Better Business Bureau to find about complaints against the company.

*Make sure that any type of “up-front fee” is completely refundable.

* If your personal medical and dental providers don’t participate in the plan, go elsewhere.

*Instead of purchasing this type of coverage, you may be able to negotiate a similar discount directly with your personal providers.

Also, you may qualify for a government subsidy on an Ohio State Marketplace policy (ask us about details). Your premium may be lower than you anticipated and pre-existing conditions would be covered.

Ohio medical discount plans are not the same as conventional plans. Please…be careful!

Just The Basics

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Deductibles. Copays. Co-Insurance. Maximums.  And that’s just the tip of the insurance iceberg! If you’re not confused by all of these terms, then you’re one of the lucky ones. Ohio Health Insurance basics can be learned.

It is important to understand, that a slight difference of the “co-insurance” in your policy, could save you thousands of dollars. Or…cost you thousands of dollars! Different deductibles can also have a tremendous impact on the rates.

The short video below may help you understand a little bot more about medical coverage and how to find the best plans. It’s short and quick.

Ohio Health Insurance Basics