New Ohio Health Insurance Law Calls for Several Medical Quotes
Now with the Ohio’s new Health Law in effect, the uninsured have an equitable chance to secure medical benefits. Many naysayers counter the legislation. Nonetheless, the new law means that Ohioans should obtain several quotes.
There’s no more price gouging. Ohio health insurance companies used to charge four times the base rate. Insurance companies can no longer charge Ohioans more than double the lowest rate the providers charge an individual of the same age and gender. Moreover, the cap is supposed to dwindle to one and half times the lowest rate by 2013. The proposed price cap is being phased into account for those, who suffer from preexisting conditions. The idea is to offset rate spikes for the other consumers, who will ultimately eat higher premiums.
In the interim, Ohio health insurance should be more affordable for some 52,000 residents. On the Ohio state insurance Web site; consumers will find 29 insurance providers. The problem is that the agencies are being inundated with medical quotes and the agencies have a murky market requirement (4 percent of their market).
Given the short time to enroll, consumers are unable to obtain numerous health insurance quotes to compare premiums, deductibles, out-of-pocket expenses and overall medical benefits. Settling for the first medical approval can be a risky prospect without adequate due diligence.
Mike Novelli, President and principal insurance agent of Ohio Life and Health.com says, “During open enrollment, consumers tend to panic, settling for the wrong policy. I see it happen all too often. Since, the underwriting may seem like an enduring process, shoppers feel nervous and obligated to sign up because they did not obtain medical quotes from other sources.”
The best way to assure adequate coverage for the right price is to compare several quotes, simultaneously. Obtain medical quotes from two to three different Ohio health insurance providers – while supplies last.
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