Affordable Health Insurance
Affordable Health Insurance
According to America’s Health Rankings, Missouri ranks 21st in the nation in terms of percentage of population lacking health insurance, with 12.6% of its population lacking health insurance.
Missouri’s health insurance companies determine rates for individual insurance policies based on geographical location, age, medical history and other rating factors. Individual insurance policies are subject to medical underwriting and can deny coverage due to pre-existing medical conditions for any period of time.
When do you need to buy individual Missouri Health Insurance?
One needs to pursue individual health insurance if all of the following are true:
a) If your employer does not offer health insurance benefits
b) If you cannot be named as a dependent on another person’s insurance policy
c) If you are not a member of a professional or a trade organization that offers health insurance
Types of Health Insurance in Missouri
a) Indemnity Policies (Traditional Fee for Service Health Insurance)
Indemnity Policies offer tremendous freedom with respect to choice; one is free to visit any provider in Missouri for covered medical services.
b) Preferred Provider Organization (PPO)
A Preferred Provider Organization provides a list of contracted providers; one receives the best services at the lowest cost if one restricts oneself to the limited list of providers in Missouri for their health insurance needs.
c) Health Maintenance Organization (HMOs or Managed Care)
HMOs require members to obtain their medical services from doctors and hospitals affiliated with the particular HMO in Missouri for their health insurance needs.
d) Self-Insured Health Plans
Large employers in Missouri often have self-insured health insurance plans where all contributing employees pool in their contributions to pay for the medical services for the members of the plan.
The Department of Social Services provides many services for Missouri children through the MO HealthNet for Kids (MHK) Program, the state’s healthcare program for children.
Missouri Health Insurance Pool
The State of Missouri administers a Health Insurance Pool program to provide health insurance services to high-risk individuals who are unable to obtain coverage or are charged more than 300 per cent of standard health care premiums.
Missouri-COBRA
The Consolidated Omnibus Budget Reconciliation Act (COBRA) is federal law that extends one’s current group health insurance under certain qualifying events such as termination of employment or reduction of hours to part-time status. To be eligible for COBRA, the employer needs to have more than 20 employees.
Missouri has a mini COBRA law that provides COBRA provisions for employers less than 20 employees to avail of nine months of continuous coverage under certain qualifying events such as termination of employment.
Resources for Health Care Insurance in Missouri
Georgetown University’s guide to Health Insurance in Missouri
Georgetown’s Health Policy Institute has researched and written state guides for buying affordable health insurance in every state.
US News Rankings for best commercially-available health plans. Rankings reflect member satisfaction and success in preventing and treating illness compared with other commercial plans. The highest possible score is 100.
Health Care Advocacy Groups in Missouri
Missouri Foundation for Health
Missouri Foundation for Health serves to improve the health of the people in the communities by empowering the people to achieve equal access to quality health services that promote prevention and encourage healthy behaviors.