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Lower Price for Short Term Health Insurance

January 1, 2010

By Health Insurance, MBA, MT, OnlineAdviser service
 

Summary
Short term health insurance premiums are directly controlled by the overall rate of increase in health care costs across the national economy.  These costs have increased by more than 10% per year, on average, for several decades.  The result is that more than $20 million Americans who could buy health insurance choose not do so because of the high cost.  But a new innovative design that puts a high deductible and a reasonable cap on benefits cuts the cost of insurance about 20%, making it possible for many people to actually reduce the cost of coverage in 2006.  The price for applicants under age 30 is less than $40 per month and middle-age applicants can buy this new health insurance coverage starting at under $100 per month.

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MedSave.com announces a new type of short term health insurance that is priced significantly less than other  national brands.  The new product is called Secure Lite STM, calling attention to its unique cost-saving features.  Cost savings are achieved by using higher comprehensive policy deductibles and placing limits on maximum benefits.  The new policy has a maximum coverage period of six months but allows an unlimited number of consecutive periods of coverage.

The cost of health insurance normally rises each year to keep pace with the overall rise in the cost of medical care.  Health insurance costs also rise as the age of the insured person or group increases and when additional medical diagnosis are made that trigger the need for larger catastrophic reserves for future claims.  In most years, the average health insurance price increase has been about 10%, yet the average cost of a medical insurance policy issued by MedSave.com has not significantly changed over the past decade.  The average policy issued in 1997 was about $160 per person per month.  The price is about the same now, but policies have higher deductibles and greater out-of-pocket risks.

MedSave.com specializes in domestic and international comprehensive health insurance products that provide affordable health coverage for the growing number of people in non-traditional jobs, workers less likely to receive health insurance from their employers, as well as people in career transition.  MedSave.com supports only out those policies that most effectively control costs without falling below the service expectations of most policyholders. 

Secure Lite STM policy leaves $500 to $5000 of medical expenses uncovered and has some maximum benefit limitations for medical expenses.  Despite this financial exposure for the policyholder, the policy achieves the primary intended goal of ensuring that every person will receive the best available medical treatment when they need it without the inherent limitations of managed care programs.  This type of policy does not cover pre-existing medical conditions.

Health Insurance , owner of MedSave.com points out that this insurance is available to applicants who were recently declined for another health insurance policy.  "If the only reason that you are not eligible for low cost health insurance is that you were previously declined by another insurance company", Morrison says. "then Secure Lite STM offers a new solution.  There is no question about 'previous declines' on the application and this is the only policy that offers this opportunity."  According to Morrison, most individual insurance policies are not available to those who have been previously declined by another company.

The Secure Lite STM policy is administered by Health Plan Administrators Inc., a company with an excellent consumer reputation for service and claims.  The new policy is now available in most states.  Qualification, pricing and online applications will be handled in the same manner as other policies.  See
http://www.medsave.com /articles/Review-of-Secure-Lite-STM.htm for details.  Coverage can be issued immediately online with credit card payment and proof of coverage can be printed at the time of enrollment. 


 


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