The number of companies offering Individual Health Insurance in Connecticut is not a large list. As of June 2011, you have a total of 6 companies offering plans. Each company is offering a similar line of products from a benefit standpoint. Today you will see all companies offering multiple HSA plans with a range of deductibles and co-insurance options.
There are even more co-pay type plans that are all set up about the same: You pay a copay for doctors visits and also have a copay for medications. All other services will fall under the Major Deductible which is a higher number such as $1,500 , $3,000 or $5,000 dollars. Some options cover everything in full after the Major Deductible while others will have 20% or 30% co-insurance after it.
The key difference between the companies are the rates and underwriting methods they use. This is what distinguishes the plans from each other and what consumers should pay attention to prior to applying for a plan. Here is a quick breakdown (generalized) of each company
United HealthCare– Best HSA prices and High Deductible plan prices for most ages. Underwriting is strict and they will both rate up a policy (offer a higher rate than quoted) and will also carve out certain pre existing health conditions and not cover them for a year or even longer. Copay plan prices with united are average at best.
Aetna Health– Aetna has the best pricing for copay type plans. They have the very popular “Open Access Managed Care” copay plans which are priced the best in connecticut. The major deductible is not covered 100% after it is met however as they will cover 80% of charges after it is reached. HSA plans with Aetna are not competitively prices and someone looking for an HSA should go with United or Anthem. Aetna will “rate up” a premium when they underwrite it for even minor health conditions. They do not exclude medical conditions and will decline an application if they feel the client presents too much risk.
Anthem BCBS– Anthem has strong pricing on their HSA products called “Lumenos”. At times they will have better HSA prices than any other carrier (even United) when a couple is applying for a plan. They are just average with their copay plan prices.
One very big advantage to Anthem is the underwriting. They do not “rate up” prices so you know that if they approve you it will be at the price quoted. Anthem also does not exclude any pre existing medical conditions. If you are approved by Anthem, it will be at the price that was quoted and nothing will be excluded. They also seem to be the most tollerant with their underwriting and will accept more health conditions than the other plans in Conneticut.
Lastly- Anthem will insure a type 2 diabetic as long as there are no other health issues. No other company will cover a diabetic under any circumstances.
Connecticare– Connecticare is a good company that is consumer friendly. Unfortunately, they are not competative with their rates at this time.
Celtic Health–In certain situations, Celtic has competative HSA rates and a massive number of plans to choose from. Underwriting is almost identical to that of United Health. A negative is that Celtic rents a national network of physicians and hospitals which can be spotty in some areas.
Assurant- Even though they had commericals with the late Billy Mays on them, they are not competative in Connecticut.