Is It Important To Maintain A Health Insurance Plan?


For most Americans, these are challenging economic times.  We can consider ourselves blessed if we are employed or have a sustaining income.  Unfortunately for some of us, a growing number of employers feel that they can no longer afford to provide Health Insurance for their employees.

If your previous health insurance was a group plan which was available through your employer, your insurance probably covered any pre-existing conditions you may have.  Those who lose their group plan coverage, and decide to find an individual or family policy, should not delay in their search for new health insurance.  If you have any history of previous or current bad health, it will be noted in your medical record, and may be used to assess your risk factors in qualifying for new private health insurance.

In order to maintain “creditable coverage” for pre-existing health conditions, you must be enrolled in another health insurance plan within 63 days of your loss of previous health  insurance.  It is not wise to ignore this “window of opportunity”, especially if you have any serious health problem in your medical history!  For more details on this very important issue, refer to this resource: http://www.familiesusa.org/issues/private-insurance/legal-rights/hipaa-definitions.html .

In many cases, those who experience a job lay-off may choose to continue health insurance coverage through COBRA (Consolidation Omnibus Budget Reconciliation Act), which is a Federal law that allows you 60 days to choose to extend your coverage.  This applies if your former employer had at least 20 employees.  You will pay for the full health insurance premiums yourself, and it could be more expensive than private individual health insurance.  Additional COBRA details are available on many different web sites, including this site: http://www.dol.gov/dol/topic/health-plans/cobra.htm from the Department of Labor.

Even if you can only afford an inexpensive high deductible health plan (HDHP), it is very important to have major medical health insurance to protect yourself against unforeseen critical illnesses or serious accidents.  We cannot predict the occurrence of such catastrophic events.  Lengthy hospital stays and physician’s fees can be extremely expensive today!

If you need quality health insurance, a licensed independent agent can offer you a wide variety of affordable choices for coverage.  Allow yourself some time to evaluate all of your options, and remember the “63 day” maximum period to maintain your creditable coverage for possible pre-existing conditions.  If you decide to get a free quote for an individual or family health insurance plan, let AustinHealthPlans find the plan that is best suited to your specific situation, goals, and budget.  We have over 200 great plans available from a list of many highly rated top insurers.  We are here to help YOU!

Don’t delay, contact us today at (512) 535-3556 or send an e-mail request to tom@austinhealthplans.com and let a friendly agent answer your questions.  Although our home base is in beautiful Central Texas, we serve all Texans, no matter where you call home!

If you found this Blog interesting or helpful, please recommend it to a friend.  We appreciate your feedback and thank you for reading this article.  We also appreciate any referrals from our friends and clients.

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About tcdiehl

I have been an independent insurance agent licensed in Texas since 2003. My focus is providing affordable insurance coverage through multiple reputable insurance providers for individuals, families, and small groups. I can also help with Medicare insurance needs. Allow me to connect you with the appropriate health, life, disability, long term care, and/or dental plan(s) based on your health, personal, and financial needs. Call me at (512) 535-3556, E-mail: tom@austinhealthplans.com.
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