Another Wellness HSA Option in Ohio
As mentioned in an earlier post, the Lumenos Health Savings Account (HSA) plan, offered by Anthem Blue Cross & Blue Shield, has become very popular among individual health insurance policies. Other major carriers have taken notice of this and developed plans that are very similar in terms of benefits and premiums. One carrier in Ohio that has rolled out an identical plan and continues to take business form competitors, such as Anthem, is Medical Mutual of Ohio.
Medical Mutual introduced the SuperMed One Wellness HSA shortly after the Lumenos HSA became popular. The Wellness HSA is very much comparable in terms of benefits and premiums. All preventive wellness checkups (i.e. general physicals, child wellness visits, immunizations, mammograms, pap smear tests, prostate exams, colonoscopies, etc.) are covered in full at no cost to the member. Illness related office visits, hospitalization and prescriptions are subject to negotiated carrier/provider discounts, which are roughly 50% for office visits/hospitalization and 20% for prescriptions. Much like the Lumenos HSA, anything that you would spend out of pocket for such services would go toward your deductible.
Another benefit of this plan is the 100% coinsurance. This allows the member to cap their risk at their deductible amount. Therefore, should the catastrophic happen, if you have a deductible of $5,000 and end up with $100,000 in hospital bills, you would only be responsible up to $5,000 with the carrier picking up all other expenses for the remainder of the calendar year.
One reason why Medical Mutual is growing steadily is due to its underwriting. Medical Mutual has been very aggressive as of lately in writing policies that would otherwise be declined by competing carriers. With an underwriting department that’s much more lenient than others, Medical Mutual can be a great option for those who have trouble finding coverage due to pre-existing conditions.
If you are from Cincinnati, Columbus or Cleveland and have questions regarding Medical Mutual of Ohio plans that are available to you, please feel free to contact a licensed agent from Chaser Insurance Group at (877)775-4321.
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