Since I have been a broker for more than 33 years, my insight may be better than most others. I will offer you my unbiased opinions and ratings regarding different sets of criteria. As you will see, there is clearly more than one correct answer since there are many reputable and reliable Ohio health carriers.
Lowest Rates
Actually, it depends what part of the state you live in and the type of policy. But generally, Medical Mutual has very strong prices in the Cincinnati area for most types of plans. In the Central part of the state, including Columbus and Dayton, Medical Mutual, Anthem And UnitedHealthacre (Golden Rule) have solid rates. UHC is especially strong in Franklin county.
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| Preventive Care Is Covered at 100% |
In the northern portion of the state, including Cleveland, Akron and Canton, any of the three carriers previously mentioned will be in the mix. Kaiser and SummaCare would also have to be considered. Having the Cleveland Clinic in close proximity probably helps area prices.
Healthspan is offering plans on the Exchange and can be considered in the upper half of the state. But they also are offering competitive prices south of I-70, assuming your physician is a member of their Network.
However, for temporary plans anywhere in Ohio, UnitedHealthcare is usually the best choice. Underwriting is quick (less than 24 hours) and completing the application takes less than 20 minutes. These policies are not ACA-compliant, so you may pay a special tax at the end of the year if you did not secure alternative coverage.
HSA prices are typically the lowest with Medical Mutual or Anthem. Humana, however, has a low-priced Silver Metal plan that can be purchased on the Exchange. In most areas of the state, it is one of the best HSA options offered.
Best Plans
Getting a great price is always preferred but if your coverage is lousy and simply excludes all the benefits you need, it's not a very attractive situation. Fortunately, all non-temporary policies will pay for your qualified preventive benefits. Not just 80%. But 100% with no waiting period or deductibles to meet. This feature was enacted as part of "The Affordable Care Act," and will continue in 2014 and beyond.
The extent of your office visit and prescription coverage depends on the policy you select. Many plans offer unlimited visits (specialists included) with small copays. Other less expensive plans will cost less, but cap the number of covered visits to three or four (and sometimes two). But the savings often makes theses types of offers a "good deal." If you make the wrong decision regarding the selection of plans, an Open Enrollment allows you to switch coverage regardless of any health issues.
The HSA
An Ohio HSA is always an option that should be considered if there are relatively few (and minor)medical conditions, and you don't have a history of over-utilizing your healthcare coverage. Although the risk exists of high out-of-pocket costs if you suddenly need some expensive treatment, it is often offset with the savings accumulated inside the policy from previous years.
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| Ohio HSA Rates Are Very Low |
Just as importantly, you have a "friend" that is looking out for you by negotiating substantial discounts/repricing on the services you receive. And the savings is not going to be minuscule. Expect major savings from your friend...the insurance company!
For example, suppose you needed physical therapy for a shoulder injury. Typically, there would be an initial consultation followed by two-eight weeks of treatment, depending on the severity of the injury.Every hour of treatment would cost approximately $500-$900, depending on the facility.
With an HSA, your insurer would authorize approximately 50%-60% of that amount so your obligation would be heavily discounted. This type of plan will be very popular with the Ohio Health Insurance Exchange (Marketplace) in 2014. The only variable will be which carriers choose to participate and which ones elect to sit out.
Summary
As you may have surmised, the question of "who is the best" does not have just one answer. If you're single and living in Akron, it may be one answer. If you're married with children (No...Not the TV show!)and living in Portsmouth, it may be another carrier. Each situation is different. Only an experienced broker and their website can determine which Ohio health insurance companies are best for you. And that's what counts.
