Health Insurance Blog

More people are shopping for individual health insurance these days.  Golden Rule, says their sales are up 24% over the the past two months.  In addition, ehealthinsurance.com reports that submitted applications were up 18% in the 4Q, over 4Q in 2007.

Along with the increases in individual health insurance shoppers, health insurance rates have increased as well:

• About 80% of Anthem Blue Cross of California’s individual health insurance policy holders will receive double-digit rate increases shorty, and some will receive increases over 30% or more.
• Blue Cross Blue Shield of Michigan is seeking state approval to increase monthly premiums by 56%
• Lifewise raised rates in Washington by 17.6% effective January 1.  In addition, Blue Cross Blue Shield of Oregon raised rates for their Washington state members by nearly 30% on avg.

For perspective, group health insurance premiums increased by roughly 5% in 2008.

Golden Rule, a United HealthCare company, is offering a unique insurance product.  The plan allows workers, who fear that they might get laid-off and subsequently lose their employer-sponsored health coverage, to pay a fee in order to be covered by a Golden Rule health insurance policy in case they lose their job and become uninsured.

The cost savings for the member would come into play when the monthly premiums required to be covered by Golden Rule would be substantially less than health coverage from COBRA.

For Example, COBRA replacement coverage for a husband and wife could cost $500-$800 per month, whereas similar coverage via the Golden Rule health plan would cost $385 per month once enrolled + $77 per month now for the right to access the plan later.

The plan is called UnitedHealth Continuity.  It is currently available in 25 states, and over time, Golden Rule plans to make it available in all 40 states where they currently do business.

The cost savings seem pretty speculative unless you would expect to be on COBRA for several months.  If you didn’t get laid off, you would be spending $77 a month for nothing, although I guess that is what insurance is all about….peace of mind.

United HealthCare Group announced the introduction of new individual health insurance plans being offered by their subsidiary Golden Rule Insurance Company.  The New health plans will initially be available in a twenty state footprint*, with more states to be added in the future.  The plans will be marketed under the UnitedHealthOne brand.

The new health plans are designed to give the customer more choices and control over their health care spending.

Health insurance shoppers who enroll in these new plans will have

• new co-insurance and deductible choices
• a 24 month rate guarantee option
• preventative care for the HSA plan options
• a new HSA plan with direct billing options

* Alabama, Arizona, Arkansas, Florida, Iowa, Illinois, Indiana, Maryland, Michigan, Mississippi, Missouri, Nebraska, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas and Wisconsin, as well as the District of Columbia.