Health Insurance Blog

For many American families, COBRA coverage is still too expensive even with the current COBRA subsidy which is temporarily in place.  The COBRA subsidy program pays 65% of the monthly premiums for up to 15 months, but still can require a substantial monthly expense, as the average family of four still pays on average $389 per month even with the subsidy.

A recent report by eHealthinsurance.com found that in twenty states, families could save $600 per year ($50/mo) by purchasing a family health insurance plan as oppose to opting for the COBRA coverage.  Even with the subsidy!

The twenty states that were found to offer the affordable health insurance identified in the report include:  Alabama, Arizona, Arkansas, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Mississippi, Nebraska, New Mexico, North Carolina, Ohio, Oklahoma, South Dakota, Utah, Wisconsin, and Wyoming.

Despite the fiscal crisis being experienced nationwide, 14 states found money this year to increase health insurance coverage for an additional 250,000 children nationwide.

The states took advantage of $33 Million that was appropriated by Congress when it reauthorized the Children’s health insurance program (CHIP) back in February.

the 14 states that are expanding their children’s health insurance programs inlcude: Alabama, Arkansas, Colorado, Indiana, Iowa, Kansas, Montana, Nebraska, North Dakota, Oklahoma, Oregon, Rhode Island, Washington, and West Virginia

Since 2008, at least 21 other states have had to cut state sponsored health programs due to financial woes.  In addition the recession has caused at least 15 states to make cuts to Medicaid Programs during 2010-2011, and 8 states have made cuts to Medicaid benefits for 2009

Many states have state sponsored health insurance plans that are designed for “the working uninsured”.  Generally the monthly premiums of these plans are subsidized by the state and in order to qualify, applicants must have household income levels that don’t exceed 200% of federal poverty level, and being a resident of the state.  Each state has their own set of eligibility requirements.  For example in some states applicant may not have access to an employer sponsored health plan.

Some examples of these state sponsored plans for adults include:  The Healthy Indiana Plan, Insure Oklahoma, Washington Basic Health Plan, CoverTN, and BadgerCare.

Even if you don’t qualify for a state sponsored health insurance plan, because you make too much money or other reasons, there are many quality affordable health insurance plans available in each state.   You can compare plans online here at healthinsurancesort.com with no obligation.

Even though individual health insurance rates are rising across America, it’s not all bad news for one state! A KFSM News report says that a tax credit may be in the future for purchasers of Oklahoma health insurance. If the state legislature passes the proposal, individuals will be able to deduct the full cost of their health insurance on their income tax returns. The tax break would take effect in 2010 and beyond.

So far, the state House Revenue and Taxation Subcommittee has approved the bill, which is a good sign. Estimates claim that around $2.2 billion in health insurance premiums will be eligible for deduction. The tax credit will make health insurance more affordable, and is hoped to cut into the number of uninsured Oklahoma residents (currently about 600,000).

In the 2008 US News and World Report health plan rankings report, only three Oklahoma health plans were ranked.  In addition, none of the three fared particularly well.  The top ranked health plan for Oklahoma residents according to the report was Aetna Health, which ranked 174th nationally and only received two stars of a possible five in the categories of both prevention and treatment.

Customers were more kind to Aetna as they received 4 of 5 stars in comsumer assessment.  The 2nd and 3rd ranked plans were Pacificare of Oklahoma, and Global Health respectively.

Similarly, US News and Word Report’s ranking of Nebraska’s top health plans were very sparce as well as they only ranked 1 health plan, UnitedHealthCare of the MIdlands who ranked 137th nationally.