The best health insurance policy in Ohio? Actually, there are several plans that are extremely affordable, very popular and offered by reputable health care providers. But there is one particular option that is very simple, low cost and issued by a non-profit company.
Meet the MedMutual Market HSA Bronze plan from Medical Mutual. It’s an inexpensive policy that is HSA-eligible and should be considered by all individuals and families that would like to reduce their costs, but also limit their potential out-of-pocket expenses for large medical claims. The HSA portion of the plan is optional and does not increase the premium.
Subsidy And Pre-Existing Conditions
It is an ACA (Affordable Care Act) compliant policy that can be purchased regardless if you qualify for an Obamacare subsidy. It's also available for both single persons and families (both large and small). Like all policies issued after 2013, there is no medical underwriting so you don't have to worry about being turned down.
Thanks to the previously-mentioned legislation, your pre-existing conditions (if you have any), will be fully covered. You may purchase this policy on or of the Exchange and directly through our website. Of course, you always view the lowest offered rates without paying any fees, and you will be credited with a government subsidy if you qualify.
Listed below are a few examples of the subsidy you could receive towards the purchase of coverage. Dollar amounts are annualized: (Remember - This is the amount of financial help the federal government offers to pay your premium. It is NOT the rate you pay. Those figures are provided later in the article.
Subsidy Based On Household Income
35 year-old with $25,000 income - $1,170
45 year-old with $25,000 income - $1,672
45 year-old with $35,000 income - $98
45 year-old married couple with $45,000 income - $2,680
45 year-old married couple with $55,000 income - $1,596
45 year-old married couple and two children with $55,000 income - $5,740
45 year-old married couple and two children with $70,000 income - $3,273
Applications are easily submitted. You can fax or email them to us. Or, you can use the online link that we create especially for you. And you do not have to submit a payment when you apply for coverage. If you meet the guidelines for federal subsidy assistance, we'll show you how much your premium will be reduced.
Here’s how it works. You select a deductible of either $4,000, $5,000 or $6,000. We recommend the $4,000 option because there is no co-insurance. Once the deductible has been satisfied, you don't have to pay an additional 20% or 30% of expenses. Whether your total bills for the year or $14,000, $400,000 or $4 million, you only pay $4,000.
Some additional features include allowing qualified dependents to stay on the policy until age 28, no out-of-pocket cost for preventive benefits, and pediatric vision hardware and lens coverage up to age 19.
That’s pretty simple isn’t it? And lifetime benefits are unlimited. Whether you incur $100,000 of medical bills or $10 million, all covered expenses will be paid.That's quite a difference from the $1 million caps from earlier years. And if you have multiple large claims in the same year, you still only have to satisfy one deductible.
If you’re reasonably healthy, you will probably never (or rarely) meet your yearly deductible. However, all recognized preventive expenses (such as routine annual physical examinations and wellness) are paid by Medical Mutual. Your cost is nothing. That feature can potentially save you a substantial amount of money compared to other plans. And the list of approved preventive expenses is extensive and constantly growing.
What if you're not so healthy? You still will qualify for a policy. As previously mentioned, you can no longer be denied because of medical conditions. However, a lower-deductible policy may be a better choice if you have a chronic condition or expect to have single or multiple surgeries in the following year.
By utilizing the vast Medical Mutual network, you’ll also be able to pay discount prices on health care that is subject to the deductible. That’s because the insurance company negotiates on your behalf, and lowers the fees charged by physicians, hospitals, laboratories and other providers. Sometimes you’ll only save a few dollars, but other times it may be a few hundred dollars. Or perhaps thousands of dollars on a hospital claim. And yes...even tens of thousands on very large claims.
So…How affordable is the SuperMed One Wellness plan? Consider these examples. The only assumptions are that the applicants are non-smokers living in Delaware County. Prices shown are monthly and include subsidies.
Family of four (Ages 50, 50, 15 & 18). $40,000 household income - $159
Family of four (Ages 50, 50, 15 & 18). $60,000 household income - $405
Family of three (Ages 30, 30, 5). $45,000 household income - $273
Family of three (Ages 40, 40, 10). $55,000 household income - $408
Single person (Age 35) $35,000 household income - $240
Single person (Age 45) $35,000 household income - $276
Single parent with one child (Age 35) $35,000 household income - $209
Single parent with one child (Age 28) $35,000 household income - $192
The Anthem Blue Cross Bronze cabu plan also offers very low rates in most parts of Ohio. It is a very similar contract and should be considered in many situations. Rates are quite similar to the Medical Mutual policy we have been discussing. The deductible of $5,000 is lower, but the potential out-of-pocket loss for large claims is slightly higher.
This type of coverage is a perfect fit for some and not a very good choice for others. We’ll help you determine if the Medical Mutual Wellness policy is going to be the right solution for you. Call us at (888) 513 6446 or contact us via email. Or simply view the rates yourself by starting the quote process. We're here to help.