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.
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.
This plan doesn't sound like it is going to have much appeal for the masses. Continuity could be a good option for some, like contract workers for instance, who expect coverage gaps. But as a recent interview with an insurance broker revealed, it offers limited appeal for most.
Is Continuity really a health insurance plan? No its not, as reported in the Times article. And if not, then what's the point? Since most states already cover what it is protecting, then apparently for most of us will there will be no need for it. Those looking for that extra bit of comfort regarding their insurance will have to decide for themselves whether Continuity is for them.
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.
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.
This plan doesn't sound like it is going to have much appeal for the masses. Continuity could be a good option for some, like contract workers for instance, who expect coverage gaps. But as a recent interview with an insurance broker revealed, it offers limited appeal for most.
Is Continuity really a health insurance plan? No its not, as reported in the Times article. And if not, then what's the point? Since most states already cover what it is protecting, then apparently for most of us will there will be no need for it. Those looking for that extra bit of comfort regarding their insurance will have to decide for themselves whether Continuity is for them.
About the Author:
Searching for medical insurance has always been a tough thing for me. There are so many choices and way too many options to navigate through and I know I'm not alone. Just this past month, on behalf of my parents in Miami, I've begun researching better options for them to improve on their Florida health insurance. Bottom line: research before you buy.
0 comments
Post a Comment