Guaranteed Future Insurability

December 8th, 2008 | by Brian Schwartz |

The tax exemption for employer-provided insurance has supported our employer-based insurance market, which leaves people vulnerable to losing coverage if they lose their job.  Business Wire reports on an innovative product to remedy this problem - which government has caused in the first place:

UnitedHealthcare’s Golden Rule, a UnitedHealth Group (NYSE: UNH) company, announced today the launch of UnitedHealth ContinuitySM, a new product which allows consumers to apply for and lock-in health insurance today while they are healthy but not use the coverage until they retire, become self-employed or unemployed, or move to a job without health benefits. …

“Continuity brings a new approach to health insurance that meets the changing needs of American consumers as they age and seek to maintain health insurance coverage,” said Richard A. Collins, CEO of UnitedHealthcare’s Golden Rule Insurance Company. “As consumers move in and out of the personal insurance market and their health care and financial needs change throughout their life, Continuity can provide more stability with their health care coverage.”

With Continuity, consumers only need to go through the medical underwriting process once, at the time of application. Once they are approved, their coverage is guaranteed when they need it regardless of any medical conditions that may have developed in the meantime.

“As people age, it is less likely that they will keep their group health insurance. About 80 percent of those aged 45 to 49 have group health coverage; while only 30 percent of people aged 60 to 64 have group health plans. This often leaves people uninsured when they most need affordable access to health care. UnitedHealth Continuity offers them the opportunity to take action today so they can be covered tomorrow,” Collins concluded.

(via Colorado Health Insurance Insider)

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  • Tom in Tupelo MS
    Co-op sounds great. I only wanted the opportunity to always be insured at a fair price regardless of my health.

    I've never thought those who dropped out of school in 9th grade,drunks, crack and meth heads never made any contribution. It's, however, our ethical duty to do something for them but this would be a good opportunity for faith based community to fill in that gap.

    Seems a fair bill is about to be passed but will hold my applause until it's law and I see it in action.
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