American Health Shield insurance adds new low cost health insurance options

by Tony Novak, MBA, MT, OnlineAdviser at Freedom Benefits revised 5/8/2012

Note: This article is outdated. The American Health Shield plan is not currently offered in any state but the brand name may return again in the future

Freedom Benefits previously announced that the nation’s most popular short-term health insurance plan for young applicants is now offering cost-saving features that will specifically benefit more mature plan members. This comprehensive short-term health insurance that only lasts up to six months. Applicants may apply for additional policies to extend coverage for longer periods. The cost is significantly less than the price of longer-term health insurance even though the benefits are substantially the same.

American Health Shield is the most popular health insurance at FreedomBenefits.net for applicants under age 30 because the average premium cost is less than $75 per month for full coverage. The insurance is valid for treatment from any medical provider in the United States. Now this health insurance adds a $5000 deductible policy option and a 50/50 co-payment option that make the starting cost of this insurance plan lower than almost all other comprehensive health insurance plans. Cost of comprehensive insurance coverage for adults over age 40 will be now available for significantly less than $100 per month. This insurance is available in 46 states. Policies are issued online and ID cards are sent by mail, usually on the next business day.

Tony Novak, owner of Freedom Benefits, points out that high deductible plans are not for everyone, but they do offer two specific advantages other than simply a cost savings. The first advantage of carry low cost health insurance is that expensive medical treatment is not denied to a patient simply because the patient has a high deductible insurance plan. Having no insurance, on the other hand, will eliminate the possibility of receiving the best medical care in a catastrophic situation for all but the wealthiest of Americans. Second, an inexpensive high deductible insurance plan offers exactly the same HIPAA protection as more expensive health insurance plans. HIPAA protection refers to the law that guarantees new employees immediate coverage for pre-existing medical conditions when they join an employer-provided group health insurance plan. In contrast, new employees with no health insurance during an employment change may need to satisfy another 18 month waiting period on their new health insurance plan before benefits resume at their previous level. High deductible health insurance is recommended for healthy applicants with the financial ability to work out payment arrangements directly with providers for smaller medical bills.

The cost savings options are only available to applicants who apply online because the printed enrollment materials will not be modified immediately. (Online applications include those who fill out an application online and then fax or mail it to the underwriter). See www.FreedomBenefits.net for more information.

Tony Novak is a member of the Pennsylvania Institute of Certified Public Accountants, the New Jersey Society of Certified Public Accountants and an accredited member of the Better Business Bureau.

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