You may have health insurance now, but what about the future?
Posted by Sophie Callahan at 12/4/2008 11:13 AM 
Categories: Health Insurance and Politics,Health Insurance,Health Insurance Companies
Tags: medical coverage health insurance unitedhealth group employer-sponsored health insurance
Categories: Health Insurance and Politics,Health Insurance,Health Insurance Companies
Tags: medical coverage health insurance unitedhealth group employer-sponsored health insurance
UnitedHealth Group has launched a new health insurance product for those who may have health insurance now, but are concerned for what the future holds. This product is not medical insurance but is aimed for people who are worried they are going to lose their health insurance, either because they retire early before they are eligible for Medicare, or who are worried that they may lose their job and health insurance coverage.
UnitedHealth Continuity can give you access to personal health insurance whenever you no longer have access to a group plan. An advantage to UnitedHealth Continuity is that you only need to pass underwriting once, when you apply for the personal plan. You can have quality personal health insurance regardless of your changes in health after you are approved for the plan.
So, how does it work? If you need medical coverage now, you start with your personal plan turned ON, or active. You can choose your health insurance coverage that you need now and pay a small premium for the UnitedHealth Continuity rider. If for some reason you take a job that offers employer-sponsored health insurance, you can turn your personal plan OFF, or inactive and pay a small premium until you need it again. If you employer-sponsored medical coverage now, you start with you personal plan turned OFF. With this, you pay a small percentage of the premium for the option to turn that coverage on when you need it in the future.
There are definitely mixed opinions about UnitedHealth Continuity. If future insurability changes for the better, such as the Obama Administration following through on plans for health reform and broader health coverage, it may be unwise to invest in this future insurability option. But if for some reason the health reform is not followed through and the future of health insurance becomes more of a wreck than it already is, it may be a smart investment. The insurance industry may eventually be providing the same product for free.
Richard A. Collins, president of UnitedHealth’s individual insurance unit says, “What this product is designed to do, for a very modest premium, is to essentially protect your insurability for the future.” He is the first policy holder paying $50 a month for his future health concerns.
On the other hand, Peter V. Lee, the executive director of National Health Policy for Pacific Business Group on Health, a California group of employers who provide health coverage for their workers, believes that you’re betting against health reform by investing in this “continuous” and “future” health coverage. Lee states that there is serious talk of having private health insurers offer individual health coverage to anyone so people who do choose to invest in UnitedHealth Continuity, may be making a bad decision.
As of right now, UnitedHealth Continuity is available in 25 states where UnitedHealth currently sells individual insurance. The monthly premiums will vary, depending on age and sex, where they live and how generous a coverage plan they select.
The economy is a big disadvantage to this type of product. Many people may not be spending the money, or have the money for this “future” insurance product, so the Continuity plan may not get a widespread appeal. It may be good for now, but you never know what will happen down the road, both with your health and the insurance industry.
UnitedHealth Continuity can give you access to personal health insurance whenever you no longer have access to a group plan. An advantage to UnitedHealth Continuity is that you only need to pass underwriting once, when you apply for the personal plan. You can have quality personal health insurance regardless of your changes in health after you are approved for the plan.
So, how does it work? If you need medical coverage now, you start with your personal plan turned ON, or active. You can choose your health insurance coverage that you need now and pay a small premium for the UnitedHealth Continuity rider. If for some reason you take a job that offers employer-sponsored health insurance, you can turn your personal plan OFF, or inactive and pay a small premium until you need it again. If you employer-sponsored medical coverage now, you start with you personal plan turned OFF. With this, you pay a small percentage of the premium for the option to turn that coverage on when you need it in the future.
There are definitely mixed opinions about UnitedHealth Continuity. If future insurability changes for the better, such as the Obama Administration following through on plans for health reform and broader health coverage, it may be unwise to invest in this future insurability option. But if for some reason the health reform is not followed through and the future of health insurance becomes more of a wreck than it already is, it may be a smart investment. The insurance industry may eventually be providing the same product for free.
Richard A. Collins, president of UnitedHealth’s individual insurance unit says, “What this product is designed to do, for a very modest premium, is to essentially protect your insurability for the future.” He is the first policy holder paying $50 a month for his future health concerns.
On the other hand, Peter V. Lee, the executive director of National Health Policy for Pacific Business Group on Health, a California group of employers who provide health coverage for their workers, believes that you’re betting against health reform by investing in this “continuous” and “future” health coverage. Lee states that there is serious talk of having private health insurers offer individual health coverage to anyone so people who do choose to invest in UnitedHealth Continuity, may be making a bad decision.
As of right now, UnitedHealth Continuity is available in 25 states where UnitedHealth currently sells individual insurance. The monthly premiums will vary, depending on age and sex, where they live and how generous a coverage plan they select.
The economy is a big disadvantage to this type of product. Many people may not be spending the money, or have the money for this “future” insurance product, so the Continuity plan may not get a widespread appeal. It may be good for now, but you never know what will happen down the road, both with your health and the insurance industry.
Interesting post! I was wondering what you think about the recent talks on health insurance reform, and what universal coverage would mean for health insurance agents! You can email me if you don't want to respond here! Just curious what you think about it!
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I think we need universal health coverage. So many people are losing their jobs and if not that, their losing their employer-sponsored health benefits. I think universal health coverage will help the children overall. Both parents are being forced to work full time in the hopes of getting health care benefits from their employer. Without any parents around, it takes a toll on the children.
Also, i believe corporations and small businesses would be able to stimulate the economy by putting more money into it because of less overhead costs due to the universal health coverage.
Hope this helps!!
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