Different Health Coverage Options

The high health insurance cost is forcing many of us to give up the idea of buying a health insurance plan. But everybody needs health insurance coverage to minimize the health risk factors & medical expenditure in life. So many health care insurance companies are operating in market that anyone who goes to buy for health insurance, often needs information to find the one providing better service for an affordable price. However, detailed information on multiple health insurance options will help you kick start your journey in the right direction.

Health Insurance Coverage Options

  • Individual Policies – Individual policies are usually the first place people look when they need insurance and can’t get it through their jobs. These policies are sold by private companies like Blue Cross Blue Shield, Aetna, Wellpoint, and many others. Each state has different rules governing individual policies. For more information on the rules in you state, see State-Specific Resources below.
  • High Risk Pools – If you are rejected for individual coverage due to a pre-existing health condition, a high risk pool may be the answer. High risk pools are not available in every state, but if yours has one, you will want to investigate this option. High risk pools are typically more expensive that individual policies, but if you can afford the cost, it’s far better than remaining uninsured.
  • HIPAA coverage – If you have recently lost job-based group coverage, and have exhausted all of the COBRA continuation coverage available to you, you may be eligible for something called HIPAA coverage. HIPAA coverage is mandated by the Health Insurance Portability and Accountability Act of 1996, and requires states to provide a coverage option for you if you do your part to stay continuously covered with no more than a 63-day gap in coverage. This option is typically used by people with pre-existing conditions who are unable to qualify for individual coverage. If your state does not have a high risk pool, it may be the only way for you to obtain coverage. Talk to your insurance agent about this special coverage option.
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