Change Your Yearly Medicare Enrollment Coverage NOW
December 20, 2008 | Leave a Comment
Many people are blessed or cursed depending on how you look at it to have their health insurance coverage through Medicare. For many of this nation’s elderly population, the options are not really clear, and the decisions they are trying to make in their best interest are difficult ones.
For many elderly people, navigating the myriad of changes made to the plan a few years ago has been nearly impossible. And because once the choices have been made, they’ve been locked into those decisions. Senior citizens have struggled to understand the many options put forth in the paperwork and this has rightly caused stress.
In case you’re not aware, let me inform you that each year there is a new enrollment time window that goes from November 15th to December 31st. This is the time for you to review your current choices and make changes to them. The choices you make now will be implemented for the next yer.
Most of you have been able to assess your coverage experiences and have more than likely learned more about your options and the choices of your friends. A proper assessment is important, however, because any coverage needs you may have that are not currently being met need to be addressed and changed if there are better options for you.
The intent of the Medicare program is to serve the needs of the senior population. Considering that many people have constantly changing healthcare issues, the program’s yearly enrollment period is important to address. The time to make changes is now. Even if you’ve been happy with your coverage, you will be well served to revisit your program coverage to assure you’re getting the best care you need.
An Insurance Policy For Your Health Insurance
December 19, 2008 | Leave a Comment
UnitedHealth, one of the country’s largest insurers, has introduced a new kind of policy that insures your health insurance policy. That’s something, huh? Insurance for your insurance.
Appropriately enough, the new product is called Continuity, as reported by the New York Times. One UnitedHealth official stated that for a modest premium this product is designed to essentially protect your ability to keep your health insurance for the future.
Let’s list a few red flags that go up. Continuity won’t protect you against your premiums increasing as you get older. The premiums for Continuity will increase over time. You have to qualify for Continuity just like regular coverage, and you may be denied based on your health status. This won’t help you get coverage if you have a pre-existing health condition. Most states have guaranteed renewability, which means an insurer can’t cancel your policy anyway if you become sick or get injured. This coverage costs as much as 20 percent of your health insurance premium.
On the surface, Continuity doesn’t seem like a good value for the consumer. It could be of particular value for contract workers who expect coverage gaps, but as a recent interview with an insurance broker revealed, it is of limited appeal for most.
As the Times article reported, Continuity isn’t a health insurance plan, so what’s the point? If the protection it offers is already covered by most states, then there apparently is no need for it. Customers will need to examine their own situation and decide for themselves.