Private health insurance or individual health insurance is different than what most are used to, most are used to having group insurance. With Group you were guaranteed coverage regardless of previous or current health conditions. With Individutal Nevada Health Insurance its allot different. You know the big companies out there, Aetna, Humana, Blue Cross Blue Shield, HealthNet, Cigna, Celtic, Sierra Health, United Health Care, Assurant..... They are the major medical companies that will assess if you are a liability or not. This means you may or may not get a policy with them. For example, if you have Type I diabetes, they won't give you an insurance policy. If you had a heart attack recently or TIA, again, they will not give you a policy, they deem you as a high risk person and the probability of you having more medical issues in the future is high, so why would they take you? Think about it, if you had an insurance company and you got only $100 a year in premiums and your clients were using $1000 a year in medical services, would you be in business long? Not at all, so the insurance companies are there to protect relatively healthy people that have something happen to them. Now, no one is 100% healthy, we have all had little issues like a broken bone, an ingrown toenail, or perhaps even an appendix taken out.
How do people get individual health insurance? Major illnesses or accidents can be deniable, but things that are recoverable are usually no big deal to the insurance company. However, they may increase your premium to make it "worth it" to cover you with health insurance. If you are prone to accidents, say you have a high risk lifestyle (like you ride a motorcycle, or skydive), they will rate up the premium when you apply if they accept you, even if you have never been in an accident. It's all about statistics. If you are overweight, they may rate you up or deny you insurance, depending on how overweight you are, because studies show that obesity is a major contributor to major diseases. This is what the Health Care Reform bill is trying to get rid of. These major medical, bare bones plans will cover you after you meet the out of pocket maximum.
How much does using an independent broker cost you? Nothing the insurance company has built the brokers premium into the insurance costs. Regardless if you go direct, use an independent broker, the Nevada health insurance companies broker, or the electronic method the cost is exactly the same.
What benefits does using a broker provide me? An expert to describe and detail the major medical plans that are available to you, as an independent broker we are paid by the insurance company, but our boss is you, we work for you. If you have a question at any point in the process you call us and you will talk directly to us, no phone banks, no waiting on hold for 30 minutes, at worst you will have to leave a message and we will call you right back. Click here to read more about using a broker...
Depending on the market segment (Individual/Family, Small Group, Medicare Supplement), the carriers may offer rate guarantees for new enrollees. For individual or family health insurance, 6 month rate guarantees for new enrollees can be found on the market. This means that if you are effective 2/1 and there is a rate increase, 3/1, the increase may not hit your plan till 8/1 (six months from your original effective date). Small Group health plans can offer new groups 12 month rate increases depending on the carrier, special promotions, and the size of the group. Medicare supplement plans typically do not have rate guarantees. If you are effective 2/1 and the increase is 3/1, your rate will likely go up 3/1 with the rest of the members. Keep in mind, these rate increases are separate from age specific increases from moving into a new age band. Click here to read more about rate increases.
Why do we buy individual Las Vegas health insurance? For the "What If" that happens, of course! You know this, that is why you are looking into buying insurance. But the main question is "what can I get and can I afford it?" All nevada health insurance will cover the catastrophic, but what about preventative or the once in a while stuff? There are two kinds of policies out there; non co-pay plans, and co-pay plans. Non Co-pay Plans: Typically when you don't have a co-pay plan, it's just bare bones insurance solely for the "What if" emergency scenario. These plans don't give you anything until the deductible is met, they can occur in a PPO or HSA plan. So, if you have to go to the doctor for the sniffles, you pay for it completely out of pocket. That is anywhere between $50 to $250 for a doctor's visit. This kind of plan may be all you can afford, but the most important this is you are covered if you have a critical illness or an accident. Using an "In Network" doctor will save you money on a non co-pay plan. There are two ways health insurance saves you money; contracted rate by using that "In Network" doctor, and the benefits you get that are spelled out in the policy. "In Network" means you are using the preferred doctors that the insurance company has negotiated lower prices for their services. In return, those doctors get business referred to them from the insurance company. Then the benefits spelled out in the policy give you, the client, coverage, usually up to a minimum of $1 million dollars if something happens to you.
It's important to look at a Nevada Health Insurance carrier's policies and restrictions regarding pre-existing conditions, waiting periods and exclusions as they can differ from company to company.
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