Kentucky Medical Insurance – Understand your Options

Kentucky medical insurance fall under various categories such as family and individual insurance, group, short-term medical insurance, student health insurance, and Medicare. Understanding all these categories and the benefits they offer is the key to getting affordable health insurance.

Kentucky Medical Insurance – Various Categories

Individual: Individual Kentucky health insurance plans are for the self-employed, or those without employer-sponsored health insurance. Individual health insurance is underwritten. Medical insurance underwriting is a process through which medical insurance companies consider factors such as age, health status and history, occupation, hobbies, personal habits, and lifestyle to evaluate their risk in issuing the policy.

Group: With group health plans, the insurance company has to cover all qualified applicants. New employees may have to wait for health coverage. Medical insurance company can refuse coverage for those with preexisting conditions only the first 12 months. By 2014, most employees will be able to buy
individual policies at much lower prices than employer group coverage.

COBRA: If you lose your job, COBRA (The Congressional Omnibus Budget Reconciliation Act of 1985) ensures that you can stay on the employer-sponsored plans for a certain period.

Student medical insurance: Kentucky schools and colleges offer student medical insurance policies that usually cover x-rays, lab work and minor emergencies. School health center visits are free and many other services come at low cost. Students need to check the extent of plan coverage and conditions. New law permits children to stay on their parents’ medical insurance plan till age 26,
which could mean that fewer students may opt for student medical insurance.

Medicare: This is government-administered medical care available to persons aged 65 and over. New reform aims to strengthen Medicare. Check with the Kentucky Department of Medicaid Services to understand eligibility criteria, plans and benefits.

High-risk pools: New reform ensures that Americans denied coverage because of a preexisting medical condition are covered in high-risk pools until 2014. After this, they will have access to coverage through health insurance exchanges. In KY, 45% of the total cost of plans purchased through the high-risk pool is paid by premiums.

Rely on Expert Assistance
Kentucky health insurance companies offer different kinds of plans covering many categories. Getting a quote and applying for a policy is now a relatively easy process, though it is advisable to rely on professional help to understand your options and choose a suitable health insurance plan.