Insurance for your insurance? What's next? UnitedHealth, a leading healthcare insurer has recently introduced an insurance policy that insures your health insurance policy. In other words, it insures that you can keep your health insurance.
The New York Times reports that UnitedHealth has named the new product Continuity. One company official stated that it is designed to allow you to keep your health insurance for the future, for a very modest premium.
Sounds good? Well, let's investigate. Your Continuity premiums can still increase as you get older, as can your health insurance premiums. There's a qualification process for Continuity as with aregular health insurance policy, and you may be denied coverage based on your health status. And Continuity won't help you get coverage if you have a pre-existing condition. Most states already have guaranteed renewability, which means that your policy can't be cancelled if you get sick or injured.
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.
But Continuity isn't a health insurance plan, as reported in the Times article, so what would be the point? What is the need for it? If there are gaps in coverage in an employer's plan, Continuity won't offer any supplemental coverage. The public will have to do their homework and decide if Continuity is worth the added premium. - 15224
The New York Times reports that UnitedHealth has named the new product Continuity. One company official stated that it is designed to allow you to keep your health insurance for the future, for a very modest premium.
Sounds good? Well, let's investigate. Your Continuity premiums can still increase as you get older, as can your health insurance premiums. There's a qualification process for Continuity as with aregular health insurance policy, and you may be denied coverage based on your health status. And Continuity won't help you get coverage if you have a pre-existing condition. Most states already have guaranteed renewability, which means that your policy can't be cancelled if you get sick or injured.
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.
But Continuity isn't a health insurance plan, as reported in the Times article, so what would be the point? What is the need for it? If there are gaps in coverage in an employer's plan, Continuity won't offer any supplemental coverage. The public will have to do their homework and decide if Continuity is worth the added premium. - 15224
About the Author:
For me, the health insurance industry has always been difficult to navigate when I'm looking for the best insurer for me. I've found it most effective to spend time searching online when I'm looking for a health insurance quote . That way I'm comfortable I've done my best to make the right choice.
