Florida Health Insurance
Whether you are new to the Florida health insurance market and have recently moved down to sunny FL or you have had a FL health plan for many years it is important to be well informed. While Florida health insurance rates can be quite cheap for those who are young and healthy they can also become quite expensive for those who are elderly or those who have pre-existing health conditions. This makes it even more important to always shop around and compare multiple health plan options.
Typically the #1 way to find the Florida healthcare insurance plan that is best for your needs is to enlist the help of Florida health insurance agent that is independent. Independent agent work with many different insurance companies. While there are certainly many top notch health insurance companies in Florida – no one company is the best choice for everyone. Rates can vary widely from one company to the next not to mention application approval criteria, policy benefits, etc. This makes it crucial to have an experienced agent on your side that can help you compare and contrast quotes and plans from many different companies.
While in times past rate quote comparisons would mean a trip across town or a perusal of the yellow pages it is now easier than ever to compare Florida health insurance quotes online. With our free quote finder at the top of the page you can enter your specifics in and then in no time at all view rate quotes from competing health insurance companies either sent to your email or online. Why not save yourself some time and money and get started comparing FL health insurance quotes today!
Florida Health Insurance Laws
There are a number of laws that are set in place by either the Florida Department of Insurance or the United States Federal Government that are designed to protect Florida medical insurance shoppers. Some of the more notable ones include:
Florida COBRA Health Insurance – this is a Federal law that applies to all companies that have 20 or more full time employees. It stipulates that guaranteed issue group health insurance coverage must be extended for at least 18 months after a qualifying event (the most common qualifying event is when an employee quits or is fired). Florida COBRA health insurance plans are usually very expensive compared to a Florida individual health insurance plan with similar benefits.
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Florida HIPAA Health Insurance – this is a Federal law that mandates guaranteed issue FL individual health insurance coverage where all pre-existing conditions are covered immediately. In order to qualify for a HIPAA plan then individuals must meet 6 strict criteria. Essentially these criteria give coverage to every FL resident that has been responsible and kept health insurance coverage but through no fault of their own is unable to continue the coverage and cannot get approved for coverage anywhere else (a common example is a very unhealthy person who’s 18 months of COBRA coverage is about to run out).
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FLDFS Laws – the Florida Department of Financial Services or Florida Department of Insurance has laws in place to make sure that no one is singled out for a rate increase. Insurance companies can only lower rates to groups of people (i.e. 55 year old males in Miami, Tampa, and Orlando) and can never single out an individual for a rate increase because they have had too many claims. There are also laws in place to make sure that FL health insurance companies charge the same rate regardless of whether the policy is purchased from an agent or directly from the company – this is another good reason to use the services of an agent.
Florida Individual Health Insurance vs.
Florida Group Health Insurance
It is quite common for many folks to think that they can find the cheapest health insurance rates in Florida by enrolling in a group plan. This is simply not true. While buying things in bulk is usually cheapest this is not true with health insurance. Individual health insurance in Florida will usually cost about half of the price of a similar group health insurance plan. Why is this?
With group health insurance in FL everyone who applies for the plan is approved onto the plan while with individual health insurance in FL the insurance company has the right to pick and choose who will be approved onto their plan. This means that the very unhealthy people drive up the rates on the group side while on the individual health side the insurance companies get to pick only those who are fairly healthy which keeps rates low for everyone (of course once you are approved for an individual health insurance plan then the insurance company by law cannot single you out for a rate increase or drop you from coverage if you develop an illness).
This price difference between group and individual can be very significant for those who are older or those larger families. As a general rule of thumb, everyone should purchase an individual health insurance policy so long as they can get approved (meaning they don’t have major health issues) or they do not have their employer paying all or most of their group health insurance premium costs (because of course if your employer is offering to pay for you group health insurance then take the free money!).
Finding Cheap Florida Health Benefits
The best way to find a cheap FL health insurance plan may be to take the advice mentioned above and try and get approved for an individual plan rather than a much more expensive group plan. Another good way to maintain affordability is to shop around and compare rates from many different insurance companies at least once every year. This again is a great reason to have an independent agent on your side who you can help you do these ongoing comparisons.
Deciding on the Best Florida
Health Insurance Company
While it can be tempting to concentrate on price and price alone when searching for a Florida health insurance plan it is important to remember that not all companies and plans are created equal.
Stay away from cheap imitations to health coverage like discount cards and limited benefit indemnity plans. Choose a well known and trusted company like United Healthcare (known as Golden Rule United Healthcare in Florida), Aetna, Blue Cross Blue Shield of FL, Humana, Assurant, Vista, and others.
Most FL health insurers will lock your rate in for the first 12 months. After this rate lock period expires it is usually time to start shopping other companies and see if your agent can find you a lower rate. So long as you make sure to only switch from one dependable company to another then this is a great way to be cost efficient and still get the comprehensive coverage that you and your family need.
Comparing Florida Health Insurance Quotes
Yes, it can be easy to just apply for the first company that you see a quote for but do yourself a favor and shop around. You will want to compare at least 3-5 different companies quotes before you make a decision to purchase a policy.
Information is your friend. Read all you can on the different plans deductibles, coinsurance levels, out of pocket maximums, copays, lifetime maximum coverage limits, and other specifics. Make sure that the plan you are eying up will give you the Florida health insurance coverage you need at a price that you can afford.
Let us help you avoid some of the hassle. Enter your zip code in at the top of the page and get started comparing Florida health insurance quotes online today!