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Kentucky Health Insurance

 

All health insurance policies in Kentucky are considered guaranteed renewable as long as your premiums are paid up to date.  So this means your health insurance can not be canceled because you become sick.

 

Kentucky mandates that health insurance companies cover newborns and adopted children for the first 31 days, on their parent’s policy.  But inversely pregnancy is, and can be considered a pre-existing condition, except on group health policies.  Pregnancy is a pre-existing condition but not on group health insurance.

 

Kentucky Access is Kentucky's high risk pool for people who have been denied coverage by private insurers.  Most people, who qualify, will have pre-existing conditions, but not HIPAA eligible individuals.

 

The Kentucky Department of Insurance has a Division of Health Insurance that would be very helpful to look through.

 

                              Request a Kentucky Health Insurance Quote

 

 

Kentucky Small Business Health Insurance

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In Kentucky, a group health plan, can not base your health insurance premiums on your health.  This is called non discrimination.  Small Business Health Insurance in Kentucky is also guaranteed issue, meaning that you can not be turn down for coverage.  Businesses with more than 50 employees can be turned down due to

health status.

 

As is true with individual health plans, insurance companies must provide a standard health insurance plan for small businesses as well.

 

Pre-existing exclusions are limited on the amount of time they can exclude coverage.  Also if you have current coverage, without lapses, that will be credited against your pre-existing period.  Pregnancy is not considered a pre-existing condition on a group health plan.

 

The maximum pre-existing waiting period is 12 months for an employee. If you are a late enrollee your maximum waiting period is 18 months.  Any pre-existing periods must be applied only after written notice.

 

If an insurance company is going to impose a pre-existing clause, they must also accept prior insurance as a credit against that clause, as long as there is not more than a 63 day lapse in coverage.

 

Kentucky does limit the amount of variation between premiums of different group health plans.  Each Small Business Plan will have certain enrollment periods in which employees can sign on to get coverage.

 

For additional information about Small Business Health Insurance in Kentucky click here.

 

                               Request a Kentucky Small Business Health Insurance Quote

 

 

Kentucky Individual Health Insurance

 

The state of Kentucky has many different individual health insurance plans.  The one thing they do, to make it easier on consumers, is mandate every insurance company have a standard plan, that way consumers are able to compare the prices of insurance for the exact same plans.

 

There are three types of standard plans in Kansas.  The first is an Indemnity plan that has an annual deductible and then 10-20% coinsurance.  The PPO plan has an annual deductible and a 20-40% coinsurance.  And finally the HMO has co-payments and a hospitalization deductible that includes a 30% coinsurance.

 

All Kentucky Health Insurance Policies have to cover disabled children on their parent’s policy into their adulthood.  They also have to cover newborn babies for 31 days, annual mammograms, and hospital stays due to pregnancy.

 

In Kentucky, insurance companies are able to decide if they want to insure you or not.  They can either rate you up or just refuse coverage.  Also Kentucky does not mandate what you buy, so insurance companies are able to design specific policies for specific consumers, rather than make insurance companies offer similar policies.

 

Kentucky allows health insurance companies to include pre-existing conditions as long as it does not last more than 12 months.  Kansas does not allow elimination riders at all!

 

Relative to Pre-Existing Conditions, Insurance companies in Kentucky Louisiana must give credit to prior credible coverage as long as there was not more than a 63 day lapse in coverage.

 

The rates that an individual pays for a Kentucky Health Insurance Plan are based on age, location, health history, family size, sex etc.  Kansas does limit the amount of this range, but the range is still large.

 

Kentucky takes uninsured residents very seriously.  For that reason they started KCHIP.   It is designed to provide affordable health insurance for Kentucky Families and Children.

 

For additional information about Individual Health Insurance in Kentucky click here.

 

                              Request a Kentucky Individual Health Insurance Quote

 

 

Kentucky Self Employed Health Insurance

 

In Kentucky, self employed small businesses are not allowed to buy small business health insurance policies.  Therefore they are left buying individual policies, and are protected under the same laws and regulations that protect individuals in the state of Kansas.

 

Another option for affordable Kentucky Self Employed Health Insurance is often associations or self employed groups.  Just keep in mind that not all of these groups or associations are regulated by the state.

 

One benefit for Self Employed people is that they are able to deduct 100% of their health insurance premiums from their taxes!

 

For additional information about Self Employed Health Insurance in Kentucky click here.

 

                              Request a Kentucky Self Employed Health Insurance Quote

 

 

Temporary Kentucky Health Insurance

 

Many situations may arise where you find yourself without health insurance, or about to be without health insurance.  These reasons could range from graduating college to being in-between jobs.  Instead of going without health insurance you should look into getting a Kentucky Temporary Health Insurance Policy.  These policies will be cheap, with high deductibles and low coverage, but getting a Kentucky Temporary Health Insurance Policy is much better than going with out health insurance. 

 

Temporary Health Insurance in Kentucky is not guaranteed renewable.  So this means that insurance companies have the right to refuse coverage if you reapply.  This is untrue of individual and group policies.

 

For additional information about Temporary Health Insurance in Kentucky click here.

 

                              Request a Kentucky Temporary Health Insurance Quote

 

 

What types of Kentucky Health Insurance are there?

 

HMO- Health Maintenance Organization.  This type of insurance is called managed care.  This means you have certain network of doctors and hospitals in Kentucky that you have to go to for care.  Most Kentucky HMO’s have office visit co-payments that range from $10 to $35, and hospital deductibles that range from $250 to $1,500.  Often the most affordable health insurance plans are HMO’s due to the fact they are managed care.

 

PPO-Preferred Provider Organization.  This type of insurance is also called managed care but it gives the consumer much more freedom; they allow you to visit any doctor or hospital in or out of network.  Most Kentucky PPO’s have an in network and an out of network charge.  If the in network co-insurance is 100% then the out of network co-insurance would be 80%.  If the in network co-insurance is 90% then the out of network co-insurance would be 70%   Typically Kentucky PPO’s offer co-payments for doctor visits as well as hospitalization. 

 

Indemnity Plan - In Kentucky, as health insurance rates continue to rise, many people are finding it more affordable to drop their health insurance and buy a Kentucky Major Medical Health Insurance Plan.  An Indemnity plan can also be called a major medical plan or catastrophic health insurance.  Whatever you call it, typically a Kentucky Indemnity Plan would cover more “major” claims.  An Indemnity plan has an annual deductible and will usually allow you to pick different co-insurance options.  Indemnity plans allow you access to any doctor or hospital, and for this reason they are typically very expensive.

 

Discount Medical Plans – In recent years many Discount Medical Plans have started to surface.  These plans have relatively inexpensive, but consumers must realize that this is not insurance.  All these companies do is to get their customers discounted rates (20-50% off) on certain procedures at certain physicians and hospitals. 

 

Federal Mandated Health Insurance Laws

 

HIPAA

Along with Kentucky Health Insurance Laws, there are Federal Laws that regulate Health Insurance companies.   HIPAA (Health Insurance Portability and Accountability Act of 1996). This act mandated federal standards for individual and group health insurance plans.  Some of the standards that it established were relative to guaranteed renew ability, crediting for prior health coverage and pre-existing condition waiting periods.

 

ERISA

Large corporations do not have health insurance policies.  Typically they are self funded, meaning the corporation pays for all of their employee’s medical bills instead of buying health insurance.  Most of these “self funded” companies are regulated by the federal government under ERISA (Employee Retirement Income Security Act)

 

COBRA

In Kentucky it is mandated, by the state, that all companies that offer a Kentucky Group Health Insurance Policy must also enable their employees to extend their health coverage temporarily; called Cobra.  A Kentucky Cobra Insurance is typically available for a time period between 18 and 36 months.   In Kentucky you are given 60 days to decide if you are going to take Kentucky Cobra Insurance or not.  Once you have passed on the opportunity to take Cobra, you are not eligible to receive it.

 

Cobra Insurance was introduced in 1985.  Cobra stands for Consolidated Omnibus Budget Reconciliation Act.  If you would like more information about your Cobra Insurance options please contact your companies HR department.

 

Often employees are surprised at the cost of a Kentucky Cobra Insurance.  The reason for this is that they are now responsible for 103% (100% of the premium plus a 3% administration fee) of a monthly health insurance premium when they probably only paid 20% while employed. 

 

Whether nor not to take Cobra is an important question, and you should realize there are alternatives to a Kentucky Cobra Insurance Policy.  One should realize what they plan to do in the future.  If you are looking for another job, and it will be a few months before you get a job, it might make sense to look for an Kentucky Temporary Health Insurance Plan.  If you are contemplating working at a consultant, it would be in your best interest to look into a Kentucky Self Employed Health Insurance Policy.  

 

 

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