Chicago Health Insurance
You may be in good health right now but since no one is invincible, you have to admit that at some point, you will need affordable medical care which can be easily availed of if you have a Chicago health insurance. While it can be an added cost to your budget, think of it as saving up for your future health needs.
The cost of health care is on the rise whether you are paying for it personally or with the help of your employer. While group insurance coverage is a lot cheaper compared to individual coverage, even employers are crying out loud because of the increasing cost of health coverage for their employees. Research shows that health care costs per employee has increased from $9,871 in 2011 to $10,753 in 2013.
Is this enough reason to back away?
Instead of shying away from healthcare because of its rising costs, these figures should all the more encourage people to get their own health insurance now before it’s too late. By investing in a healthcare insurance in Chicago now, you do not only guarantee the protection of your family in case of illness or accident but you also protect your money from the skyrocketing costs of healthcare.
By choosing your health care insurance provider now, you get the opportunity to do research as to which providers offer the best coverage at the least possible cost. By doing this, you are able to save money and you also get peace of mind knowing that whatever happens in the future, you are well covered.
Costs of hospitalization
An emergency room trip can cost you at least $700 but can double if you have to undergo tests. Giving birth can be expensive at a minimum of $9000 for a normal delivery. And if everything gets really awry, an accident or illness that will require replacement of the hip can cost as much as $30,000.
These figures are definitely scary especially if you do not have health insurance coverage. You may not be in the right frame of mind to worry about the costs while you are in pain but your family will surely be at the front sit.
Chicago offers many opportunities for health care insurance so there is no reason to hesitate. Every minute you take dilly dallying over your health insurance coverage can cost you more. If you are employed then make sure your employer has included you in its healthcare program. And if you are an employer who wants to provide affordable healthcare to your employees but are confused about the many plans available, then check with any of Chicago’s insurance providers.
Illinois Health Insurance Coverage Considerations
According to HealthCare.gov, an employer health plan is considered affordable if the amount you pay for self-only coverage is not more than 9.5% of your annual household income. The employer plan must also meet the minimum value standard, which means that it must pay at least 60% of the medical costs for a standard population. If the plan meets the minimum value standard and is considered affordable, and you choose to obtain health coverage on an exchange you would not be eligible for the premium credit, regardless of the level of your income. As indicated on HealthCare.gov, your employer can tell you whether its health care plan meets the minimum value and can provide information to help you determine if it is considered affordable to you.
What are the trends for Illinois health insurance ?
With the high deductible health plan, individuals and families are turning to health savings accounts (HSA) too. Lately, my clients are not just interested in an affordable Illinois health insurance policy. They’re in quest of an HSA. These programs are like Apple’s iPad: everyone seems to want one–and for a good reason. Flexibility to build a medical nest egg, carry it over and have it available as financial recourse to cover expenses is why more consumers are opting for the HSA as a component of the high deductible health plan.
Comparing Insurance Finding Quality Companies
Compare Illinois insurance companies that have been given a high rating by the A.M. Best Company. Speak with an agent, who holds a license in the state of Illinois, and represents multiple providers. Re examine your auto insurance policy and your medical payments coverage. Some health insurance companies do not pay some of the expenses incurred in the event of car related injuries. Doing so allows one to compare for best rates and coverage options.