Phoenix has become a refuge for people in their mature years. More and more people flock to this warm and welcoming city every year to enjoy their retirement. Although this means that a good portion of the population is already eligible for Medicare benefits, many people aren’t. For those not quite ready to retire, they are constantly on the look out for cheap health insurance in Phoenix, Arizona. Although it can seem like a frustrating experience trying to find the best coverage for an affordable price, it’s an important issue that every person should think about.
The most important thing to keep in mind when looking for cheap health insurance isn’t the price. It’s much more prudent to first consider the coverage and then begin to look at prices. The reason behind this logic is fairly simple. Low cost plans may look appealing to a bank account, but they don’t always provide all the coverage a person or family needs. Although it’s great to pay the least amount possible for health insurance premiums, if you find yourself needing a service that isn’t covered, the related costs can be astronomical.
Therefore everyone looking for an individual coverage plan needs to carefully consider their health past and then pick and choose the coverage benefits they need. For instance if someone is on prescription medications for high blood pressure or cholesterol, they obviously need some level of prescription drug coverage. For a family with two or three children all facing the possibility of orthodontic braces, dental coverage is vital.
A good way for anyone to save on health insurance is to consider taking a plan that only provides partial coverage on things like hospital stays or ambulance rides. Thankfully the majority of people living in Phoenix will never need to utilize those services, but if they do, it’s nice to have at least some coverage provided by a health insurance plan.
By: Deborah Mills
Posts Tagged ‘High Blood Pressure’
Cheap Health Insurance in Phoenix, Arizona
February 7th, 2010Health Insurance For People Over 50
October 10th, 2009
For anyone between 50 and 65 years who will be looking for some health cover or is already looking, you could be in need of a lot of help. This age is crucial in that many of the body’s systems are just about ready to start failing plunging you into serious health challenges. Using statistics (a tool used extensively to create the product structures) insurance companies know that the expenditure on health for the 20 to 45 year-old group will be a lot less than for the 50 to 65 year-old group. Therefore, the premiums for older persons are higher.
Do not despair, as we are smart we will be sure to find a way. Let us look at some options available.
For those who are still working and may be looking at starting a business or going to retire, there are a few areas worthy of your investigating. Does the company you work for allow you to buy insurance through their plan? For early retirement, if the company allows, they may be able to subsidize a portion of the premiums. If there is no subsidy, you may still be entitled to group rates which are less than for individuals. If you spouse will remain in employment seriously look at joining their plan if this is possible.
Another option is COBRA or Consolidate Omnibus Budget Reconciliation ACT, for those still in employment that gives health insurance cover. Former employees and their families can continue the cover for up to a year and a half. COBRA is also guaranteed. You can not be turned down even for chronic illnesses. The downside is the cost. During your employment the employer normally meets 70% of the premium. Own your own you will cover the full premium and administration costs on top. A 1997 survey showed that on average a retired employee would pay $1,008 for family cover and $373 for the individual health cover.
Even if you are not in employment, there are some options open for you. For those with pre-existing conditions like high blood pressure or diabetes who fail to get insurance, coverage is still available through the states’ high-risk program especially set up to help this group of people. Like COBRA, the premiums are quite high.
You should also check professional organizations that you could join or already a member of or are affiliated to see if the membership offers health insurance cover. As this is a group cover, your premiums will be low.
Lastly, the health insurance scheme for individuals. There are now very good offerings in this area as providers believe the 50-65 age group has potential for growth. These individuals also have a fair income and are in good health. Companies believe that even when the oldies become eligible for Medicare, they will still opt for supplemental cover. Some of these options have monthly premiums as low as $200 for individuals in fair health, but carry high deductibles. Some advisors recommend combining opening health savings accounts (HSA) when taking out a cover with high deductibles. HSA contributions are not taxed, nor are any withdrawals made towards qualified medical expenses and the balance at year end can be rolled over to the next year.
By: Jack Adams
