Top 5 health insurance companies (1)

Top 5 Insurance Companies In U.S.

Insurance companies prepare you for the worst possible situations, to put your mind at ease whilst incurring unforeseen circumstances. They determine the risks you may face and then provide coverage if that risk takes place. When you have insured an object like a car and it suffers damage, the insurance company pays for the damage as agreed. Even by paying for your damages, they can still get benefit from it. In other words, the insurance companies handle your risks when needed and in return, you pay their premiums.

 

Top insurance companies in the US:

Several companies in the US have a considerate number of users that are using their services. You can get different types of insurances depending upon your needs. For example, if you’re approaching old age or are facing health issues, you can get a health and retirement plan that will let you handle your expenses when the need arises. 

1. United Healthcare Group

The top company in the United States is United Healthcare. This group is a wide-network that covers fields like health care, clinical department, and advanced technology. Not the only US, United Healthcare group serves more than 130 countries all over the world. It has two distinct platforms reserved for healthcare and the other one dedicated to the information and technology sector. The company reserves more than 3 billion dollars to its technology branch and more than 1 trillion transactions are made every year in this group. 

It is the insurance company with the most members in the United States. Anyone ranging from an individual to an established company can use these insurance options. You can get individual plans as well as full employer plans for your company. Above all, their services are available in all 50 states of the US. Their headquarters are based in Minnesota. 

For best health care services, United Healthcare has appointed more than a million physicians and specialists in over 6,000 hospitals. Choosing United Healthcare will give you numerous benefits and plans to choose from.

2. Anthem

Anthem acquired the second position in top insurance companies in the US. Though it does not provide services in all states, still it has more than 40 million members all over the country. The company provides health care services from individual to business-level no matter how small or large. This wide network also serves Medicaid and Medicare markets.

Anthem, Inc. improves the health standards of people and makes their life easier by proving the latest technology. The company has affiliate networks that serve more than 78 million people. Not only does this company guarantee valuable services but also innovation in its style. 

The services provided by the group comprise almost every field of health care and supply various innovative products that make them unique. The company also devises methods to maintain quality at an absolute minimum cost. You can customize the plan according to your needs from basic to comprehensive programs. Apart from these services, Anthem also allows flexible spending accounts and COBRA administration

Blue Cross Blue Shield health insurance has also certified Anthem. This is why the products of Anthem will often be tagged with BCBS and your state name but the provider remains Anthem. The company currently does not operate in every state but provides services in selected regions.

3. Aetna

Aetna is operated by CVS Health Corporation which took control of this company in 2018. CVS now runs the network with membership with Aetna. Aetna was originally created in 1853, maintaining the position in the top three health insurance providers. The company mostly deals with private markets, providing health services to employers and employees under its membership. Aetna withdrew all Affordable Care Act marketplaces in 2015 because there wasn’t much revenue in that sector.

Being a country-wide network, you can get Aetna-approved services in every state of the country. Also being part of the network allows you to choose the company’s own or an outside licensed doctor. However, choosing an in-network doctor prevents extra expenses on your part.  

Aetna offers several types of provider plans including HMO, POS, PPO, EPO, and HDHP with HSA. Also, you can get an opportunity to get gym memberships, health advisers and guides to weight loss plans, and much more.

4. Cigna

Cigna has its headquarters in Connecticut but is not only restricted to its country. It provides services worldwide. It not only designs health insurance plans for you but also manages those programs. Along with general health services, Cigna also has dental, behavioral health, vision, supplemental health, and Medicare/Medicaid retirement benefits. Cigna operates both ongoing programs and also some off-site plans such as the Run-off Reinsurance segment. The company operates a health maintenance organization in the whole region of Phoenix metropolitan. The organization has full-service Medical groups with satellite clinics.

Although the group has services in various states, the plans, payment options, and deductibles are not the same in every state. The HSA plans have the most deductions in them. The information including the cost of the plans, doctors, their policy cards, and claims status is available online for the members to access. Cigna provides the delivery of products to your doorstep. The company provides additional benefits such as reward programs, telehealth connection program, helpline services, and flu shot information. You can access telehealth service providers like MDLIVE by the Cigna telehealth connection program. 

Cigna operates only in 11 states of the United States.

5.  Humana

Humana is also one of the top five insurance companies in the United States. Established in 1961, Humana initially sold long-term care insurance and then expanded its business to health insurance policies. Three years back, Humana decided not to provide individual health insurance in states that have already availed its services. 

Humana runs by the goal to ensure better health care standards and tries to give people the best-personalized experiences. They upgrade their products and techniques from time to time to catch up with the changing times and make innovations for everyone to access easily.

Affordable-Insurance-Rates-Ohio

Average Health Insurance Plan Rate In Ohio

We analyzed the health insurance policies all around Ohio and found out that the cheapest health policies in Ohio are CareSource Marketplace Low Premium Silver, Ambetter Balanced Care 29, and Constant Care Silver plans. But it is important to know that all of these insurances are not available in every city within Ohio, so the rates of these plans may differ depending upon where your residence is.

People living in Ohio can find cheap health insurance through places such as United Healthcare or Anthem, there is a wide variety of available options. The health insurance is given according to your income. The best health insurance will depend upon your budget and the cost expected. It is recommended to compare various companies before buying a plan for yourself.

We suggest using low-cost health insurance plans to start with to determine the costs and advantages you are expected to get from a given coverage’s metal tier.

The health insurance policies are divided into metal tiers, which depict the advantages and the expenses you would incur for that particular tier category. 

Our team has conducted extensive research on the affordable health insurance policies around Ohio for each tier and have uncovered the lowest cost health insurance plan options in order for you to get the best level of coverage at extremely affordable pricing.

Various factors contribute to the cost of medical coverage. The cost of health insurance majorly depends on the chosen tier and the age of an individual. People with older age face comparatively high premiums. 

A 60-year-old individual would be charged 112% higher costs for a health policy as compared to a 40-year old person, and it remains the same for all the levels of a health plan. Similarly, a 40-year-old person is charged 28% higher as compared to a 21-year old person. In 2020, the average price of an individual health plan for a 40-year-old person across all metal tiers of the plan is $495. 

 

Finding your best health insurance coverage in Ohio

The health insurance plan you choose is different depending upon the area where you live in Ohio. In order to choose the plan which is best for you, you need to take your salary and medical expenses into consideration, as it will affect the cost you would have to pay and the coverage required to fulfill your requirements.  

The metal tiers of higher-coverage are more and more expensive in regards to the premiums but lower-cost sharing is what makes them ideal for families with heavy and consistent health expenditures. 

In contrast, the lower-coverage metal-tier health policies have affordable rates but their high costs from pockets make them helpful only in case you are saving for an emergency and do not expect consistent high-cost medical expenditures 

Gold plans: Best for families with high or consistent medical expenses

Gold plan is ideal for the families that expect a time to time high medical expenditure. The gold health insurances have the most expensive monthly premiums but affordable out-of-pocket costs. 

This means that you would have to pay significantly less from your pocket before your health plan gives you coverage. This is the best pick if you have ongoing medications or illnesses. Someone in the family is suffering from a chronic disease or expects large medical expenses and you would like to have high but predictable premiums.

 

Silver plans

These kinds of programs are best suited for families that have low-income sources and don’t have excessive health expenses. The state of Ohio has enacted the Affordable Care Act and has expanded Medicaid. Due to this, the households whose income is 138% of the federal poverty level can avail of Medicaid. Therefore, families with income below the average level can choose the Silver Plan at affordable rates.

What’s unique about this plan is that it is the only plan whose policies are eligible for cost-sharing reduction subsidies, in case income is less than the preset limits. This plan is considered to be a more affordable medical insurance plan as compared to Gold plans. You may not need to save money apart from the insurance for your expenses.

 

Bronze/Catastrophic plans: 

Bronze plans are designed for young families who want to save and spend less. The basic criteria require an age less than 30 and you should qualify for specific exemptions. These plans offer lowest-cost packages and higher cost-sharing options.

However, Bronze health plans should not be your first choice when choosing insurance plans. If you are quite sure that you can afford out-of-pocket expenses while utilizing the plan, you can go for Bronze plans. The services will not be provided to you if you don’t qualify the limits of out-of-pocket deductibles and copays.

 

Health insurance rate changes in Ohio

The rates of health insurances, the costs, and out of pocket expenditures are analyzed every year by the health facility providers and then are submitted to federal regulators for approval

In 2020, the health insurance rates fell by 4% for all the metal-tiers of coverage. The price of bronze policy fell by the highest amount that is 7% or $26 per month. 

 

Best cheap health insurance companies in Ohio

There are 10 health insurance companies and two others with year over year policy on the Ohio state exchange. But not all the companies provide services in all the countries. So the best one will differ according to your location of living

  • Oscar Insurance Corporation of Ohio
  • Summa Insurance Company, Inc.
  • CareSource
  • AultCare Insurance Company
  • Oscar Buckeye State Insurance Corp.
  • Medical Health Insuring Corp. of Ohio
  • Ambetter Buckeye Community Health Plan
  • Molina Healthcare of Ohio, Inc.
  • Paramount Insurance Company
  • Community Insurance Company (Anthem Blue Cross Blue Shield)

To conclude, there are various affordable options available all around Ohio and residents can choose according to their requirements and budgets. Hopefully with information within this article will help you choose one to fulfill your medical requirements.

 

when-is-open-enrollment

When is Open Enrollment in Ohio?

Worried about at what time around the year can you sign up for Health Insurance Enrollment? Or do you plan on shifting your healthcare needs? It is important to have a proper understanding of open enrollment to have the coverage you are looking for. You must be looking into the following factors when considering Health Insurance Enrollment in Ohio:

 

  1. What is Open Enrollment?

It is a time to get yourself enrolled in Health Insurance. This time of enrollment comes once a year where individuals can look into organizations offering Health Insurance in Ohio while going for the one that best suits you.

Also, the following alterations have been brought to the Health Insurance Policy as of the year 2021:

  • There will be no penalties if you do not enroll yourself for Health insurance
  • There will no increase in premiums and they will remain the same as of 2020

 

  1. Timeline

The timeline for Open Enrollment in Ohio begins from the 1st of November 2020 and lasts till the 15th of December 2020. This serves as an open opportunity for the following reasons:

  • For the residents of Ohio to get themselves registered
  • Residents to get their existing memberships renewed
  • For the residents looking for an upgraded version or a seemingly different plan for the year ahead

Note: It is important to be noted that the Open Enrollment in Ohio starts earlier for older individuals (65 and old).

 

  1. Who needs enrollment? 

The following individuals should sign up for Open Enrollment:

  • An employee and your company does not provide you with insurance
  • Individuals who are not supported by the government
  • If you are an adult and not fall into your parents Health Insurance Enrollment
  • Someone who has an existing Health Insurance, but it does not match your needs anymore
  • If there is a variance being brought to your budget and you need to renew it

 

  1. How to Apply 

You can apply for Open Enrollment in a variety of ways. Below is a list mentioned for you to consider one of the options available for applying to Open enrollment:

  • Online

You need to get yourself registered to the company/organization you want to enroll in. This will assist you while being time-efficient as well as being at ease since you will not be waiting into ques to get yourself registered or your account activated. 

  • Telephone

It serves as a primary medium where you will be facilitated with a customer representative, looking forward to your queries and concerns while getting everything resolved for you. Also, a customer representative aids in guiding you about the details and full information regarding the application and its procedure.

  • In-person Assistance

You can look up for an individual who will assist you in-person about the enrollment details and its whereabouts. You can search online with your zip codes and you could find a couple of individuals who would be happy to help and let you know about the requirements and necessary documentation. 

  • Paper Application 

This consists of downloading the application and filling out the relevant details manually. Once this is complete, you will be sending it through the mail to the concerned organization or focal person responsible for the Health Insurance Enrollment. 

 

  1. Coverage questions for employees

Once the Open Enrollment starts, employees often have varying concerns as to their Health Insurance Plans. They do not know if to continue with their existing health insurance plan or bring about an adjustment to it. Here’s a checklist of factors to consider that will determine and help you decide about your Open Enrollment for the year ahead:

  • Expanded Coverage

You need to explore what options are available for you. For instance, small business owners as well as employees should take into consideration if options for dental or vision can be a part of expanded health coverage or not. 

  • Number of Dependents

This is where you need to decide and look into the number of dependents you will be having in the following year. You need to consider if you will be adding or removing an individual from your family from the Health Insurance Plan. 

  • Employer Coverage

You need to inquire about the Health Care Open Enrollment from your organization. This is important to assess if your organization will be contributing it to in some way or not.

  • Added coverage

This serves as additional benefits being provided. For instance, incorporating telemedicine or wellness programs that will together be part of the organization’s Health Insurance Plan.

 

  1. How to decide about the right Health Insurance Enrollment?

There are different sorts of Health Insurance Enrollment in Ohio. You need to be decisive while choosing one. This is particularly because you need to understand the requirements and benefits that best suit you or your family as a result. Here’s a checklist that will help you determine as well as evaluate your options while looking for a certain Health Insurance Enrollment:

  • Costs of Plans

This is related to your finance and budget allocation. Cost plans are a way to measure and define the amount you would be spending on Health Insurance. 

  • Types of Plans

There is a wide variety of plans including HMO, PPO, POS, and EPO, while all offering distinctive requirements and Health Insurance Plans for you. You need to carefully identify which one is the best for you while covering all your needs and requirements.

  • Different Levels

The levels differ greatly in terms of benefits provided to the individual. This means that for each level, there is a different type of Health Insurance being provided. You need to evaluate each of these and then match it to your requirements for assessing the one that is suitable and covers the benefits you are looking for. 

In summation, the above pointers will assist you with the Open Enrollment in Ohio along with its policy and procedures to be followed. It is important to keep each of these factors and consider them while deciding and coming to a solution. 

 

2021-Employee-benefits-planning

How and Why to Start Planning Your 2021 Employee Benefits

Have you ever wondered what keeps you motivated even after working for hours? Did you ever give a thought to how employee benefits bring about a difference outside your work life? If you did not, I believe it’s high time that you do because it notably has a significant impact on you, your family as well as your lifestyle!

Employees of all ages seek security and that too originating from your employer is a plus. In the modern fast-paced world of today, where competitiveness is at its peak, a driving factor to attract and retain individuals like you is by offering Employee Benefits. It portrays the organizations are not only investing in the short-term but the organization, as an employer are looking out and concerned for your future that lies ahead of you as well.

Now let us have a deeper understanding of the much familiar term ‘Employee Benefits’

 

What Are Employee Benefits?

Employee Benefits, also commonly known as fringe benefits are non-financial compensation that is provided to you as part of an employment contract other than your salary. It may be required by law, depending upon the country you currently reside in, or could be also due to a risk that is associated with your job. The purpose of employee benefits is to increase your economic security as an employee.

Below is a check-list of the employee benefits commonly being provided by organizations:

  •       Health Insurance
  •       Disability Insurance
  •       Casual Leaves
  •       Sick Leaves
  •       Vacation Leaves
  •       Retirement Plans
  •       Well-being Program
  •       Tuition Reimbursement
  •       Gym Reimbursement
  •       Loan Contribution
  •       Transportation Facility
  •       Employee discounts
  •       Free lunch

 

Why Are Employee Benefits Important For You

Employee Benefits acts as security. This is where above 70% of the population is willing to settle for their security and wellbeing, even in comparison to high salaries being offered.

Here are some reasons why employee benefits are important to you:

  •       They ensure your security
  •       They ensure to facilitate you will all resources at their disposal
  •       They have a strong impact on your motivation towards your work
  •       They contribute towards increased satisfaction while being at work

Note: If an organization is offering a good salary along with additional benefits, it is the right moment for you to grasp the opportunity before it’s too late!

 

Why Is 2021 Benefits Planning Important?

We are all aware of the global pandemic and the unfortunate events that it brings along. As it continues to wage on, the COVID-19 pandemic has been a wake-up call for all employees to get themselves secured. This is observed as a reflection in the employees being super concerned about the additional benefits and support provided by their employer to help create ease in such tough times.

On this account, all employees need to start focusing on their concerning employee benefits to get themselves secured for any unfortunate causality that could occur as a result.

Here are some common reasons to why you should step ahead into employee benefits planning for the year 2021:

 

Healthcare Coverage

You have probably heard the common phrase ‘Health is Wealth’. Yes, your health is the most important factor and should be your top priority, especially in such times. You need to consider the maximum amount of opportunities from where you could get medical coverage as part of employee benefits.

 

Telehealth facility:

It is an additional sub-category that is on the rise nowadays. Telehealth is where you could get connected to a doctor through a telephonic call or video chat. As the graph for COVID-19 increases, there has been observed an increasing trend toward telehealth services, with over 60% population being dependent on it.

Therefore, it is extremely important to consider the benefits of health coverage in employee benefits planning for the year 2021.

 

Mental Health

A survey in 2020 investigated the after-effects of COVID-19 on employees where there was a significant increase in individuals linking the global pandemic as one of the most stressful times of their lives. This is where employees were not sure about job security where each one of us felt threatened that our organization might be laying us off.

It is hence important, to consider your mental health before even giving a second thought to any of the factors. For this reason, you should start looking into organizations and programs that cater to these in addition to the usual benefits being provided.

 

How To Start Planning Your 2021 Employee Benefits

Planning employee benefits has become essential in the world of today. Having the right employee benefits will give you a distinct advantage in addition to other facilities provided by either your organization or the law of your state itself.

Take into consideration the following steps while planning on your 2021 employee benefits:

 

Prioritize what’s benefits are important to you

As an employee, it is important to evaluate what matters to you. You should be the one deciding what is important, what is relevant, and what is it that will facilitate you in the longer-run as well. Until and unless, you do not have a goal or determination inside of you, it will be far impossible to benefit both, you and your dependents as a result.

 

Differentiate between required benefits and optional benefits

While organizations are increasingly providing employee benefits, it is important to focus on what is best suitable for you. You, as an employee, should be decisive and have the ability as well as a skillset to differentiate between what is necessary and what is not.

Often some startups offer small business benefits since they are not enough financially stable to offer you a range of benefits. For instance, small business benefits could include flextime, telecommuting, paid time off, or even well-being programs. For some, the above would be required benefits where in comparison some employees might have it on their optional benefits list.

Hence, now once provided with both options, you are free to select the one that fulfills your needs and requirements.

 

Dig Deeper into your budget constraints

Having a focused and realistic idea of your budget will aid in understanding and utilization of the benefits important to you and your family. It will provide you with a holistic overview of the employee benefits to plan on while also knowing the ones you can compromise on.

In summation, 2021 is almost here with a roaring start, that links back to employees making decisions about their benefits program and the option available. Where continued unemployment is at its peak, employees should wholeheartedly dedicate a great deal of time settling themselves for a brighter future!

Contact Claimlinx today to schedule a benefits consultation.

 

 

covid-19-health-insurance-options

What to do if you lost your health insurance during COVID-19

It is no secret that COVID-19 has had catastrophic effects on the lives of people as well as entire economies around the world. Many people have found their lives upended due to the pandemic. People have lost their jobs and homes, and many cannot see a secure future in sight. 

Similarly, in counties and states across America, the social and economical conditions of governments and citizens seem to be worsening since no one can determine for certain when this worldwide pandemic will wane.

Unemployment has reached record heights 

As a result of COVID-19, many businesses, regardless of their size, have been forced o reduce, cease, or entirely shut down their operations. Subsequently, as many as 47 million people, according to the officials of the Federal Reserve, have filed for unemployment. This means that not only have millions of people around the country lost their jobs, but many who depended on employers for health insurance have also, unfortunately, lost health insurance coverage

Are you a victim of the devastating socio-economic effects of COVID-19?

If you have landed on this article, it is likely that you, like many other Americans, have fallen victim to this tsunami of unemployment, and you are unsure of what the future holds for you. Undoubtedly, your mind is perhaps racing with questions about how to make up for lost health insurance coverage that has resulted from you losing your jobs. Maybe you are looking into what kind of health insurance options are available for you, and you want to know how you can register for these facilities. Or still yet, maybe you want to know if you are eligible for a special and specific type of help that you can benefit from in these bleak times.

To make this process easier for you and save you some time and worry, we have taken to compile a list of all the possible options you can avail of to get some semblance of stability and security for the future back into your life. 

So what are your options?

The following comprehensive contains all the likely options that you can select from. These include COBRA coverage or coverage under the Affordable Care Act (ACA), as well as some other, more specific alternatives. So read on for a quick rundown of COBRA and ACA coverage, and some guidelines as to how you can find the plan that best works for your exact needs:

COBRA Coverage

Say you have lost your job due to large scale layoffs that took place in the organization you worked for, but the organization itself is still continuing operations. Under such circumstances, you may be eligible to extend your health insurance coverage on account of an employer-sponsored plan, regulated by federal law, which more commonly is referred to as COBRA. COBRA coverage makes it possible for you to fund your health insurance coverage from your own pocket under the same plan that you had when you were an employee for the business; for a period of about 18 months. 

However, the catch with COBRA coverage is that it can be a bit costly for you. This is because, in the time that you were employed, you were funding your health insurance coverage with little more than a percentage of your total monthly premium, while the rest was taken care of by your employer. With COBRA coverage, on the other hand, you are solely responsible for paying the entire premium on your own. 

Coverage under the Affordable Care Act

The other alternative to the COBRA coverage is the option of purchasing an individual or group health insurance plan for your family on your own. This can be done under the rules laid out by the Affordable Care Act (ACA). 

In the case of the affordable care act, you will usually be required to wait for the enrollment period each year that opens up in the fall so that you can sign a new health insurance plan. However, in the case of lost health insurance coverage that was covered by your employer, your case will be considered a “qualifying life event” which will allow for a 60-day window to enroll.

To see what fits you best, you can shop around for group health insurance for your family or individual health insurance coverage using an insurance marketplace run by your state government. In addition to the state-run marketplace, you can look up your options on an online marketplace, or you can hire the services of an insurance broker to help your compare plans directly from insurance companies and find the perfect plan for you or your family. 

If you are going to be going it alone and conducting the research into health insurance plans and providers on your own, maybe the following tips can be of some help to you  

  • Compare health insurance plans on the market- this will help you make sure you find the best plan to not only fit your exact needs but also not exceed your budgetary allowances. As mentioned above, you can enlist the services of insurance brokers or insurance brokerage agencies 
  • Look for plans that provide coverage for your prescriptions and preferred doctors- when selecting a plan, make sure it covers the doctors you would like to continue seeing and that will cover the drugs you need to manage a condition or illness you or a member of your family has
  • Check if you are eligible for government subsidies to help make coverage affordable– if your annual household income is below a certain level, you may qualify for subsidies that can help you new plan be more affordable for you
  • If you’re under age 30, consider a “catastrophic” plan– these are health insurance plans that will cover most of the basic benefits of other ACA plans. Moreover, these plans are slightly more affordable. The only downsides to these plans are that they have higher deductibles attached to them and you cannot avail of help for government subsidies to make them more affordable.  

As there seems to be no end to this economic and public health crisis, now is a time as good as any to make sure your health and future are secured. If you find that you do not qualify for either of the options we have mentioned in this article, look into Medicaid, for which you might be eligible if you check some specific boxes. To get more details on Medicaid and whether you qualify for Medicaid, you can contact the Department of Insurance in your state.