UnitedHealth, one of the country's largest insurers, has introduced a new kind of policy that insures your health insurance policy. That's something, huh? Insurance for your insurance.
UnitedHealth is calling the product Continuity, as reported by The New York Times. What this product is designed to do, for a very modest premium, is to essentially protect your insurability for the future, said one UnitedHealth president.
Given that most states have guaranteed renewability, which means that your policy can't be cancelled if you get sick or injured, Continuity may not be the right remedy at the right time. It won't protect you from health insurance rate increases, and its own premiums will go up over time. And if you have a pre-existing condition you likely won't get coverage.
At first glance, it just doesn?t seem like this product is worth anything. An insurance broker interviewed by the Times admitted Continuity was of limited appeal, but it could be useful for some. For example, the broker mentioned, Continuity could be a good option for, someone who expects to work on contract for employers that offer group health insurance benefits but who anticipates gaps in that coverage.
Is Continuity really a health insurance plan? No its not, as reported in the Times article. And if not, then what's the point? Since most states already cover what it is protecting, then apparently for most of us will there will be no need for it. Those looking for that extra bit of comfort regarding their insurance will have to decide for themselves whether Continuity is for them. - 16492
UnitedHealth is calling the product Continuity, as reported by The New York Times. What this product is designed to do, for a very modest premium, is to essentially protect your insurability for the future, said one UnitedHealth president.
Given that most states have guaranteed renewability, which means that your policy can't be cancelled if you get sick or injured, Continuity may not be the right remedy at the right time. It won't protect you from health insurance rate increases, and its own premiums will go up over time. And if you have a pre-existing condition you likely won't get coverage.
At first glance, it just doesn?t seem like this product is worth anything. An insurance broker interviewed by the Times admitted Continuity was of limited appeal, but it could be useful for some. For example, the broker mentioned, Continuity could be a good option for, someone who expects to work on contract for employers that offer group health insurance benefits but who anticipates gaps in that coverage.
Is Continuity really a health insurance plan? No its not, as reported in the Times article. And if not, then what's the point? Since most states already cover what it is protecting, then apparently for most of us will there will be no need for it. Those looking for that extra bit of comfort regarding their insurance will have to decide for themselves whether Continuity is for them. - 16492
About the Author:
Searching for medical insurance has always been a tough thing for me. There are so many choices and way too many options to navigate through and I know I'm not alone. Recently, on behalf of my parents in Miami, I've begun do your homeworking the best options for them to improve on their Florida health insurance. Bottom line: do your homework before you buy.
