Individual Health Insurance Plans
If you are your spouse are not able to obtain health insurance coverage through your employer, or if that group coverage is too expensive for you to cover your dependents, an individual plan can be an affordable alternative. Individual plans have lower premiums than group plans because they are medically underwritten and do not include coverage for normal maternity costs (although this coverage can be added to a few plans at additional cost.) Small business owners in Colorado have the ability to choose either the individual market or small group market for their coverage.
Medical underwriting means that if you've been treated for a major health problem such as cancer or diabetes in the last ten years you are not going to be offered coverage. For less dire ailments, carriers can ask for a higher premium to cover the condition, not cover expenses related to that condition including medications, or they may take no action. Each insurance company has its own underwriting rules and guidelines. When you and I talk over the phone or email back and forth, I'll ask about health conditions and medications that you take so that I can give you an accurate idea of how the carriers will look at your application before I send you quotes. This prescreening process saves both you and me time, energy, and disappointment because we'll find the best alternative for you up front.
The insurance companies all have their own rating models, so while one company may have great rates for a 35 year couple in Boulder County, that same company might have high rates for a 50 year old couple in Boulder or for an identical couple living in Jefferson County. Because the rates vary so much depending on your health, age and where you live, I look at a number of carriers and present alternatives for you to choose from.
There are many different plan designs and coverage levels available in the individual market. I recommend either comprehensive high deductible plans which are HSA qualified or comprehensive co-pay plans from reputable carriers to suit your needs and budget. Remember the rates are the same whether you go through a broker of go directly with the insurer.
I work with the following companies:
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Joel Rosenblum is the owner of Insurance for Asset Protection. IAP provides health insurance plans, including individual, group, and medical supplements, and life insurance plans in Colorado.
Joel Rosenblum, Owner
Insurance for Asset Protection
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