Insurance Options..

By: Taylor


While choosing for a health insurance one wonders what options are available. There are many health insurance options available including job based coverage, private individual policies or different health insurance programs run by government. One can choose one of them as per need. Some of these options are discussed below.

Job-based coverage

Any working individual who does not have any health insurance coverage is eligible for health insurance coverage through work. One can get coverage from oneís own job or of spouse or parent.

An employer cannot deny coverage or charge higher premium because of health status or disability. People who cannot get insurance through own or your spouseís employer can use other options to get insurance coverage as discussed below.

Insurance under a Parentís Policy

Any young adult or individual under 26 years of age can stay on his or her parentís health plan as a dependant. Young adults under 26 with disabilities and chronic conditions are covered by their parentsí plan. Only if the parent has an existing job-based plan and the young adult can get his own job-based coverage, then he is excluded from his parents plan. If any young adult does not have his own job-based health coverage he can avail health coverage from his parentís plan.

Individual Insurance Policies

People not availing job based health coverage can buy a health insurance policy for themselves and family. These policies can be bought from private companies offering individual or family health insurance policies.

Pre-Existing Condition Insurance Plan

Any individual having a pre-existing health condition or disability and being uninsured for six months can get insurance coverage through Pre-Existing Condition Insurance Plan (PCIP).

Medicaid

From 2014, most adults under age 65 with individual incomes up to about $15,000 per year will qualify for Medicaid in every state. It is a healthcare coverage program for low income group and disabled people. Each state operates its own Medicaid program covering lower-income people, families and children, the elderly and disabled people.

States are free to design their own reimbursement and delivery system under the Medicaid Program. The Social Security Act allows flexibility in Medicaid operation by states by authorizing multiple waivers. This program offers coverage for Long Term Care Services including Institutional Care and Home and Community Based Services. Some states run Medicaid and the Childrenís Health Insurance Program as one combined program. These programs are run by state and federal partnership. It is jointly funded by both the Federal and the State governments.

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