Value Health Insurance in New York
Q: I am interested in buying the Value Health Insurance, but have a few questions that I need clarified. I wanted to ensure that the policy is available in New York State? Also that the policy can be bought for a short term ie. three months? Can the policy alone be bought, or does it have to be combined with another insurance policy? Along with the monthly premiums, is the membership fee paid every month, or is it only a one time fee?
A: Value Health Insurance is a supplemental hospital insurance not available to New York state residents. Once issued in another state, it covers treatment received anywhere in the United States including New York. The insurance renews month to month until you cancel it; cancellation is allowed at any time. The policy benefits may increase when the policy is kept for a longer than a year but there is no requirement to keep the policy for any length of time. Supplemental insurance like Value Health is designed to be combined with other insurance, but there is no requirement to maintain any other insurance. All premiums and fees are quoted in monthly amounts. There are no one time fees. The premium rates and fees are listed on the application form that can be downloaded and mailed to the administrator.
As an alternative, consider Core Health Insurance, a limited insurance benefit plan that can be used alone or in combination with a catastrophic health insurance plan.