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Health insurance can protect you and your family from significant out-of-pocket medical expenses that can accumulate during an extended illness or hospital visit. Most Americans are feeling pressure from increasing healthcare costs. Most employers provide basic medical insurance under a group policy availabe to company employees. If employer provided health insurance is available to you, this is generally the cheapest health coverage option. If you are unemployed, self-employed or if your employer does not provide medical coverage you can usually purchase it independently through an insurance agent or broker. Health insurance helps pay for out-of-pocket expenses for diagnosis and treatment of covered medical conditions. It is important to select a coverage that best fits your budget, age, family needs and lifestyle.
The second most affordable option is often an employer provided Consolidated Omnibus Budget Reconciliation Act (COBRA) plan. If you are not eligible for COBRA or your COBRA option has expired, your old coverage did not expire due to non-payment and you have had 18 months of continuous group health coverage under an employer group health plan, then you are generally considered “Federally Eligible” for a Health Insurance Portability and Accountability Act (HIPAA) plan. If you are not Federally Eligible than you can still get coverage, but insurers may impose a waiting period for coverage and coverage of pre-existing conditions. Your employer may offer a Flexible Spending Account. FSAs, allow you to set aside pretax dollars for medical expenses and childcare which can help lower your overall costs.
There are two types of medical insurance known commonly as indemnity and managed-care plans. The major differences between the two types is evident in how you choose your provider, how out-of-pocket expenses are handled and how bills get paid. For example, under an indemnity policies you usually can choose any doctor or hospital that you wish when seeking services. Under a managed-care plan, you either select a primary care physician who treats and directs all health care for you or you are given a list of preferred providers from which you can chose any provider. Under indemnity plans, you often to pay upfront and are reimbursed after a deductible is applied. Under a managed care plan, providers agree to perform services for patients at pre-negotiated rates and usually the provider handles the claims processing for you.
The state of Wisconsin offers a HIRSP (Health Insurance Risk-Sharing Plan ) for residents who are unable to obtain health insurance coverage due to their medical conditions or who have lost their employer-offered group health insurance. The program covers most major medical and prescription drug expenses. Members are responsible for paying premiums, deductibles and coinsurance amounts outlined in the policy. There is a six month wait period for pre-existing conditions to be covered under the HIRSP. Wisconsin also offers a state-sponsored program for pregnant women, certain families and children under the age of 19 call Badgercare Plus. The program is designed to provide healthcare coverage for individuals who do not have access to health insurance. All children under the age of nineteen are eligible regardless of income level of the family if they do not have access to health insurance. Further, families with income up to 200% of the federal poverty income level and pregnant women with income up to 300% of the federal poverty income level are also eligible for Badgercare Plus. You may qualify for either Standard Plan or the Benchmark Plan depending on your income level. Premiums and deductibles vary under these two plans. Check with the state to see if you are eligible for either of these programs.
Our customers come from Milwaukee, Madison, Green Bay, Kenosha, Racine, Appleton, Waukesha, Oshkosh, Eau Claire, West Allis, WI and other cities in The Badger State to find low cost health insurance from top rated insurance companies. Wisconsin health insurance premiums vary significantly amongst carriers and plans. To help keep your premiums down, you need to compare multiple quotes. We make that process simple.