Advantages of "Secure 12x3" Insurance

January 1, 2010

Q:You wrote that the Secure 12 x 3 health insurance is better than the previous short term medical insurance policies.  Can you give more details?.

A: Yes, whileSecure 12 x 3 STM is about 30% more expensive than the lowest cost short term health insurance policies available it is still less than 1/2 the cost of prevailing renewable health insurance options.  The benefits you get for the premium are outstanding by comparison.  For many people who buy their own insurance for long periods of time, this is the best available combination of price and coverage.  Following are a few of the that add value to this new version of health insurance:

1.  Coverage can be kept for up to 36 months without worrying about eligibility or exclusions for pre-existing conditions that incur during the period of coverage.  This is a significant advantage over the six month policies.  Since more than 99% of people who buy insurance will change coverage in less than three years (according to MedSave.com), this can be considered as an effective long term coverage even though this is legally termed a short term policy.

2.  A prescription drug card is included that covers pre-existing medications.  This is not a discount card, but an actual insurance card.  The cost is $10 for generic drugs and $20 for brand name drugs.  This is the only low cost health insurance that covers the cost of pre-existing prescription drugs.

3.  First dollar benefits are included for a doctor's office visit.  There is no deductible that must be satisfied for this benefit, only a $25 co-pay.

4.  Emergency accident coverage is available as an option.  This option that provides benefits without satisfying a deductible is not available on most low cost health insurance plans.

5.  This policy is great for large families.  Premiums are charged for up to 3 children per family regardless of the number of children who are covered by the policy.  Also, large families only pay up to 3 deductibles, regardless of the number of family members who may incur medical expenses.

6.  Standard Life is an "A rated" insurer with an excellent reputation.  Consumer complaints are virtually non-existent, according to the National Association of Insurance Commissioners Web site at NAIC.org.

7.  Offers live enrollment support, customer service and claims support by HPA, one of the best-respected independent companies in the industry.  This "live" service is becoming increasingly rare among health plans today.

8.  Enrollment can be completed online in minutes and evidence of insurance can be printed immediately.  Duplicate ID cards can be accessed anytime through the Internet as long as the policy is in force.

9. Includes PPO pricing and claims processing benefits through PHCS, the nation's favorite preferred provider network.  Yet there are no penalties for using any U.S. provider outside of the network.

It is easy to reach a conclusion that this policy is one of the best health insurance values available today.  The biggest limitation is that the insurance is currently available in only 22 states.  See the enrollment Web site for more specific information.



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