The gamut of health insurance plans marketed in New York State can be broadly grouped under personal health plans, family health plans and group health plans. Purchasing health insurance coverage by individuals,
businesses and families have been mandated by state laws and health insurance coverage is essential to avert the financial catastrophe in the event of medical emergencies. Health insurance is a million dollar industry. There is a long list of health insurance carriers in the state offering a wide array of health insurance plans. However, you need to choose the right kind of health insurance plan to let the coverage do the maximum for you besides helping you meet your typical health care requirements.
Those employed with firms can hope to get employer sponsored health insurance coverage. In this case, the employer bears a sizeable chunk of the premium and the employee gets access to affordable and quality health care. Group health insurance plans sponsored by employers do not exclude anyone on the basis of pre-existing health conditions since the insurance carriers feel they are under no loss in case of huge claims since the large number of subscribers to group insurance plans will compensate for the probably loss incurred by the insurance firm. Therefore, this is the best way to get a low cost health insurance plan in New York. Those who are self-employed might need to buy an independent health insurance plan.
Some of the major sources to know about the various kinds of health insurance plans available in New York include New York Health Insurance Information, Health Organizations and Resources and online health insurance quotes. New York residents who do not have an employer sponsored health insurance plan can look forward to purchase suitable health insurance plans from a large number of private health insurance firms. Also, those families and individuals who can satisfy the eligibility conditions can benefit from a wide range of state and federally sponsored health insurance programs like Medicaid, COBRA and the Pre-Existing Conditions Insurance Plan (PCIP). For instance, PCIP comes to the rescue of people who cannot buy health insurance coverage on account of their pre-existing medical conditions.
Good news for subscribers wanting to buy independent health insurance policies in New York is that this is one of the few guaranteed issue states in the country. The implication is this. Every insurance carrier doing business in the state is expected by mandates to offer at least two comprehensive standardized plans to all individuals of the state. No insurance carrier can turn you down from buying a health insurance plan on account of your pre-existing health conditions. New York is also a guaranteed renewal state. This mean that the health insurance carriers are prohibited from increasing the premiums on individual health insurance plans on renewals on the grounds of health conditions. As long as you keep paying the premiums, the insurance carriers cannot cancel the policy. Affordable Care Act features a number of provisions to benefit the residents of the state.
Therefore, New York residents may take advantage of such legal provisions in the state and get appropriate health insurance coverage. Since health insurance is an expensive decision, you need to exercise enough care in choosing the right policy. Once you do this, you can stay at peace having protected yourself and your family.