The state of California offers group health coverage to individual plans under “Covered California” which has led to good results among the individuals and families across the state.
The Success of Covered California Plans
Covered California is California’s health insurance marketplace. It lets both the individuals and families to buy medical insurance California at affordable rates that are offered by the federal government. In the initial period, the number of enrolls was 8,15,900, which increased to 1.4 million by the end of the enrollment period 2014.
Covered California takes an active role in negotiating premiums and stipulating quality goals. In the initial years, Covered California rejected several insurance carriers as they failed to comply with the requirements. This made the Covered California market place offer the best insurance options for consumers.
In 2016, Covered California obtained a copay cap for prescription drug plans. As per this plan, the silver, gold and platinum patients need not pay more than $250 per month. And bronze patients need not pay more than $500 per month.
During the year 2016. Covered California requested the insurers to decrease the premiums between 1 to 9 percent. With the reduction in premium rate, $200 million can be saved, for both the individuals paying premiums and the taxpayers.
Coverage basics of individual and families
One can select from the many health plan options available.
Coverage levels – All insurances sold to individuals and families are classified under one of the four levels – Bronze, Silver, Gold and Platinum. A minimum coverage plan is also available for those who are younger than 30 if they produce a certificate stating that they are without affordable coverage or experiencing hard times.
Essential health benefits – All health insurance plans offered to an individual and families contains a comprehensive package of items and services, which is known as essential health benefits. These essential health benefits are classified under 10 categories.
Dental Coverage – All health insurance plans offered to an individual offer a pediatric dental coverage. It means that the dental insurance for children is included in all the health plans purchased in the marketplace. Covered California also offers supplemental dental coverage plans for adults.
Vision Coverage – All health insurance plans offered to an individual by Covered California offer vision care benefits for children. Covered California also maintains a relationship with certain vision insurance companies in order to offer vision coverage directly to consumers.
How California’s Individual Market Differs from Covered California for Small Business
Many are confused between the Covered California’s Individual and Family plans versus Covered California’s plans for small business. Covered California for Small Business is a contribution group plan. Here the companies select the group plan, the tier and the contribution percentage. Companies also have the option of choosing multiple plans.
Whereas Covered California’s individual exchange, lets the employees select their own insurance policies. Employees can choose the plan that fits their need. They can also choose a plan that keeps the coverage regardless of their employment status. Here companies make contributions depending on the family status and employee classification. Companies are no longer into the trouble of choosing a group policy for their employees. Instead, they can work with a third party software to manage the insurance allowances and verify the employee expenses.
American Marketing Administrators Inc, is an insurance agency offering individual insurance plans as well as employee benefits. They also act as a Covered California Agency and offer Covered California for Individuals and families and Covered California for small business. The team of experts at American Marketing Administrators Inc can help you with any insurance need you want. They also offer accidental health insurance. Their goal is to offer the clients with the best possible dental, vision and medical coverage and has extensive experience in the healthcare industry. They have worked closely with United Healthcare, Kaiser Permanente, Blue Shield of California, and other companies, which makes them a leader in offering best insurance solutions for individuals, families and employees. If you are in need of an insurance for your family, give them a call.