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Health Insurance Rates

Why is Health Insurance so important?

Once of the wisest choices you can make today is to research great health insurance rates and coverages. Apart from the necessary benefits of health care coverage, a good health insurance policy and provide valuable assistance in your life. Listed below are a few reasons why you need health insurance coverage today!

  • You can live longer if have great health insurance coverage
  • Your health insurance coverage helps protect your valuables in the event of a serious medical condition or accident
  • You can get better prices on prescription drugs
  • You can experience a better quality of life without the worry and stress of something happening
  • You can take advantage of preventive care that can help fight illinesses
  • You don't have to drain your finances when seeing a doctor

Types of Health Insurance Catagories

There are two categories of health insurance referred to as the indemnity plans.

Basic Plans

A basic plan usually covers the everyday costs of medical care; like hospital visits, surgeries, and emergency attention. Although their is a payment limit on some coverages, this plany normally pays 100% of the costs, but please ask your health insurance agent for details and coverage information.

Major Medical

Major Medical plans cover a much broader range of services that include injuries that may happen in and out of the hospital. This plan will often cover long-term visits in the hospital, a surgery, emergency care, prescriptions, x-rays, lab testing, dental attention, and mental health services. There also could be deductibles and out of pocket expenses depending on coverages and accumulated expenses, but the dollar limit is much higher than the basic health insurance plan.

Health Insurance Rates and Direct Premiums for 2008

TOP TEN HEALTH INSURANCE GROUPS BY DIRECT PREMIUMS WRITTEN, 2008 (1) ($ billions)

Rank
Group Direct premiums written Market share
1
United Health Group
$71.7
11.76%
2
WellPoint Inc. Group
54.5
8.94
3
Kaiser Foundation Group
46.3
7.60
4
Aetna Group
25.5
4.18
5
Humana Group
25.0
4.10
6
HCSC Group
16.8
2.77
7
American Family Corp. Group
13.4
2.19
8
Highmark Group
12.3
2.02
9
Coventry Corp. Group
11.1
1.82
10
Independence Blue Cross Group
10.0
1.64

(1) Includes data from the property/casualty, life/health, fraternal and health annual statements.

Source: National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or redistribution strictly prohibited without written permission of NAIC.