How Safe Is Your Ohio Insurance Policy?
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 Ohio.
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 Ohio insurance companies.
· The Ohio Department of Insurance regulates the Association.
When purchasing an Ohio health insurance policy, make certain the carrier is an “A” rated company and licensed to do business in Ohio. If you have any questions regarding Ohio health insurance quotes or any Ohio health company, please feel free to contact us at service@ohioquotes.com
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Nice to know Ohio policies are safe. That’s comforting.
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