Health Insurance Options

The most important part of our lives is our health and well-being.  Unfortunately, with job losses and a struggling economy leaving millions of Americans without health insurance, staying healthy is becoming more difficult.  We see this more and more when we work with group health insurance in Ohio, as well as, individual health insurance in Ohio.  We often see annual physicals and other preventive care being neglected as a result of so many people without health insurance making it difficult to detect potentially serious conditions early.  As a whole, an uninsured person is less healthy than an individual with insurance for this very reason.

It’s important to know that you do have options for health insurance if you’ve lost your job, aren’t offered benefits at work, are a sole proprietor, or can’t afford your employer’s coverage.  Individual health insurance may be your best option and there are two specific types.  The first is the basic individual health plan that consists of a deductible option and coinsurance, typically 80%/20%.  Often you can purchase a lower deductible such as $500 or $1000.  This type of plan is much more common to the consumer than any other type of plan.  This plan will consist of using co-pays for doctor visits, drug coverage, etc.  The second type of plan is a Health Savings Account or HSA Policy.  This policy generally has a higher deductible option of $1500 or higher but has coinsurance of 100%/0% once that deductible is met.  An HSA Policy will also provide preventative care that won’t apply to the overall deductible.  An added advantage to the HSA is that the side savings account used for medical expenses is also tax deductible to a certain point.  When looking at premiums, an HSA Policy will almost always be cheaper than the individual policy mostly based on the higher deductibles.  Deciding which policy best fits your or your family often depends on the health of each person.  A relatively healthy person may be surprised at how affordable either plan can be. 

If you are in need of health insurance, be sure to explore your options before attempting to go uncovered.  You might be surprised with what you find.  Contact our agency for more information.  As an independent agency, we can offer quotes from a variety of carriers.