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Individual Health Insurance Rates To Increase For Young Adults

Will Individual Health Insurance Rates For Young Adults Increase?

With the new healthcare reform bill being slated for assent, the major question in most minds is how it will affect the youth. Will there be an increase in the rate of individual health insurance for young adults or not is the main question asked by many today. Coupled with it is the question as to how this increase will actually impact the number of young adults seeking health insurance coverage. In order to answer these questions, it's important to understand the nature of the increase as well as the reasons for it, should there be an increase at all.

Reasons for increase in insurance rates

Come 2014, no insurance company will have the privilege of refusing insurance to people with pre existing conditions or for any other reason. Similarly, they will also not be allowed to charge older customers exorbitant rates in comparison to younger ones. Under these circumstances, the only way for them to make profits is to charge the youth more. And given that the youth are usually not susceptible to major health issues, there is no fear of losing out.

What does this increase mean?

When dealing with an increase, the first question is always regarding the amount. In this case, experts believe that there will be an increase of 17%, which is nearly $42 for young adults seeking insurance. However, the increase, when comparing the two sexes, will be different, as young women have cheaper options to bank on when compared to young men.

Interestingly, all this talk about increase does not really take into account the tax credits and other subsidies that all people under 35 years of age are eligible for.

Reasons Not to Wait any Longer for Health Insurance

Health Insurance: 4 Reasons why you should opt for it now!

Escalating healthcare costs, rise in health issues, and the threat of chronic conditions are all factors that increase the need for health insurance. Despite these facts, many people still lie in the uninsured bracket for various reasons, chief of which is the cost of health insurance. However, these four reasons show why you should not wait for health insurance.

  • Risk of pre existing medical conditions: Earlier, insurance companies could and did refuse pre existing condition health insurance coverage, largely because the risk was too high. However, today with new regulations and mandates, there are other high risk pools for you to gain insurance from. Additionally, by 2014, the government seeks to ensure that no insurance company can actually refuse insurance due to such conditions.
  • Expensive healthcare: Healthcare costs are increasing at a steady rate. Under these circumstances, the onus of payment is entirely on the individual, where there is no insurance. Moreover, without health insurance, you do not qualify for any discounts that others with insurance can boast of.
  • Risk of being uninsured: Financial debts and bankruptcy are the highest amongst those who are uninsured against health emergencies.
  • Insurance for young adults: Young adults believe that their youth and good health do not require any insurance against health emergencies. However, studies have shown that a large percentage of young adults visit emergency rooms every year, and adequate coverage by health insurance plans can help them deal with costs of such treatment.

For these reasons, if you are contemplating getting health insurance, make sure you do not delay the process any longer and end up losing out financially.

 

 

A Limited Benefit Medical Plan can be the Answer

A Limited Benefit Medical Plan can be the Answer

Health can be a gamble when we go uninsured.  Ask Kate and Josh. As a young new couple with no plans of having children and a lot of student loans to pay back, they decided to cut costs by going without health insurance for a few months. The figured they were relatively healthy and almost never went to the doctor. It didn’t seem like a risk to them at all.

Life throws us a curb ball sometimes.

Kate was diagnosed with early stage ovarian cancer a few weeks later. They were shocked. It seemed like they had nowhere to turn to.

Life with a pre-existing condition can seem miserable. It's constant rejection everywhere you go.

Thankfully, Kate and Josh had the wherewithal to call us.

Limited Benefit Medical Plans Changed their Lives

We were able to find them a limited benefit medical plan that accepted them right away. This plan was a fee-for-service plan that paid exact amounts for every kind of service. This left them knowing exactly how much they would have to pay out of pocket for any kind of service.

Kate and Josh were able to get the medial attention that they needed and were able to stop and eliminate the cancer from spreading.

How a Limited Indemnity Plan can Help You and Your Loved Ones

Kate chose an indemnity plan with a PPO network. Not only was she able to get large cash payments for each service she needed, but she was also able to get PPO network repricing. What that means, is that for every $300 specialist doctors visit she had, she was able to get at least 50%-75% off the price since her doctor was in network.  After that, the indemnity portion of the plan paid $120 towards the remainder of the visit. That meant she paid anywhere from $30 to zero dollars for her specialty doctors visit.

No Strings Attached

Kate was apprehensive at best when we first showed her the plan. She thought it just sounded too good to be true. We let her know that there were no strings attached. She could cancel at any time. The greatest part is that she had 30 days with the plan in which she could cancel if she was not pleased.

We can help you! Sign up Today!

 

Individual Health Insurance Rates To Increase For Young Adults

Will Individual Health Insurance Rates For Young Adults Increase?

With the new healthcare reform bill being slated for assent, the major question in most minds is how it will affect the youth. Will there be an increase in the rate of individual health insurance for young adults or not is the main question asked by many today. Coupled with it is the question as to how this increase will actually impact the number of young adults seeking health insurance coverage. In order to answer these questions, it's important to understand the nature of the increase as well as the reasons for it, should there be an increase at all.

Reasons for increase in insurance rates

Come 2014, no insurance company will have the privilege of refusing insurance to people with pre existing conditions or for any other reason. Similarly, they will also not be allowed to charge older customers exorbitant rates in comparison to younger ones. Under these circumstances, the only way for them to make profits is to charge the youth more. And given that the youth are usually not susceptible to major health issues, there is no fear of losing out.

What does this increase mean?

When dealing with an increase, the first question is always regarding the amount. In this case, experts believe that there will be an increase of 17%, which is nearly $42 for young adults seeking insurance. However, the increase, when comparing the two sexes, will be different, as young women have cheaper options to bank on when compared to young men.

Interestingly, all this talk about increase does not really take into account the tax credits and other subsidies that all people under 35 years of age are eligible for.

Reasons Not to Wait any Longer for Health Insurance

Health Insurance: 4 Reasons why you should opt for it now!

Escalating healthcare costs, rise in health issues, and the threat of chronic conditions are all factors that increase the need for health insurance. Despite these facts, many people still lie in the uninsured bracket for various reasons, chief of which is the cost of health insurance. However, these four reasons show why you should not wait for health insurance.

  • Risk of pre existing medical conditions: Earlier, insurance companies could and did refuse pre existing condition health insurance coverage, largely because the risk was too high. However, today with new regulations and mandates, there are other high risk pools for you to gain insurance from. Additionally, by 2014, the government seeks to ensure that no insurance company can actually refuse insurance due to such conditions.
  • Expensive healthcare: Healthcare costs are increasing at a steady rate. Under these circumstances, the onus of payment is entirely on the individual, where there is no insurance. Moreover, without health insurance, you do not qualify for any discounts that others with insurance can boast of.
  • Risk of being uninsured: Financial debts and bankruptcy are the highest amongst those who are uninsured against health emergencies.
  • Insurance for young adults: Young adults believe that their youth and good health do not require any insurance against health emergencies. However, studies have shown that a large percentage of young adults visit emergency rooms every year, and adequate coverage by health insurance plans can help them deal with costs of such treatment.

For these reasons, if you are contemplating getting health insurance, make sure you do not delay the process any longer and end up losing out financially.

 

 

A Limited Benefit Medical Plan can be the Answer

A Limited Benefit Medical Plan can be the Answer

Health can be a gamble when we go uninsured.  Ask Kate and Josh. As a young new couple with no plans of having children and a lot of student loans to pay back, they decided to cut costs by going without health insurance for a few months. The figured they were relatively healthy and almost never went to the doctor. It didn’t seem like a risk to them at all.

Life throws us a curb ball sometimes.

Kate was diagnosed with early stage ovarian cancer a few weeks later. They were shocked. It seemed like they had nowhere to turn to.

Life with a pre-existing condition can seem miserable. It's constant rejection everywhere you go.

Thankfully, Kate and Josh had the wherewithal to call us.

Limited Benefit Medical Plans Changed their Lives

We were able to find them a limited benefit medical plan that accepted them right away. This plan was a fee-for-service plan that paid exact amounts for every kind of service. This left them knowing exactly how much they would have to pay out of pocket for any kind of service.

Kate and Josh were able to get the medial attention that they needed and were able to stop and eliminate the cancer from spreading.

How a Limited Indemnity Plan can Help You and Your Loved Ones

Kate chose an indemnity plan with a PPO network. Not only was she able to get large cash payments for each service she needed, but she was also able to get PPO network repricing. What that means, is that for every $300 specialist doctors visit she had, she was able to get at least 50%-75% off the price since her doctor was in network.  After that, the indemnity portion of the plan paid $120 towards the remainder of the visit. That meant she paid anywhere from $30 to zero dollars for her specialty doctors visit.

No Strings Attached

Kate was apprehensive at best when we first showed her the plan. She thought it just sounded too good to be true. We let her know that there were no strings attached. She could cancel at any time. The greatest part is that she had 30 days with the plan in which she could cancel if she was not pleased.

We can help you! Sign up Today!