Health care is a hot topic for many of us in today's difficult economy. So many folks are newly unemployed and the situation is getting worse every day. Several of our clients have inquired about
individual health insurance when their
COBRA benefits end.  In the past, many providers of individual care had stringent underwriting and coverage guidelines that made obtaining even basic care difficult. However, with the new legislation passed early this summer, the buying public will realize tremendous advantages that weren't available even 3 months ago.
For instance, we just received this from Independence Blue Cross and Blue Shield:
- Dependents can be covered to age 26.
- Designated preventive care is covered at 100 percent.
- There are no lifetime and annual dollar limits on essential benefits.
- There are no preexisting condition exclusions for individuals up to age 19.
- Enhancements will be made to the claims appeals process.
- Coverage cannot be rescinded except in cases of fraud, intentional misrepresentation of material fact, or nonpayment of premium.
- The good news here is that when one big player enacts changes, the others are soon to follow. These increased benefits represent a huge paradigm shift for this carrier. The bad news is that in the long term rates will certainly increase. Despite what our elected officials say, companies and even governments cannot deliver quality product without increasing prices when it comes to health insurance. Just look at Medicare and Medicaid. These are two government run entities that are barely surviving under the stress of strastiferic delivery costs and increased demand from a rapidly aging population. Add to it another 30 million uninsured entering the coverage base and you can see that something has to give. One way or the other, we all will be paying more for health insurance. This will happen either through individual price hikes or higher taxes that will offset the inevitable increases necessary to provide service. For more information on this topic please call us at 610-524-7860.
