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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

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Value Insurane plans in New York state

originally posted: 7/2/2007  revised: 12/11/2010

Q: Am inquiring re coverage for my 21 yr old daughter, recent college graduate, now off my insurance plan. May give this to her as gift! If I understand correctly all bills are paid for by the individual, and then this coverage reimburses such individual at certain rate depending on what/ which coverage is purchased , correct? I think this is where the classic, silver, gold, etc comes in. Questions: 1) If she usually lives in NY State but may live and work out of state for projects does that matter? 2) What if she relocates to another state with her job later? 3) Difference between Value Health and Value Hospital is that Value Health also covers MD visits? Why would someone need Value Hospital then if Value Health also has hospital? 4) What is difference bet classic , silver. gold , platinum? 5) What do you recommend for a healthy 21 yr old female: Value health and a Rx plan such as The Competitors RX Pay Card? 6) may be interested in coverage for my 25 yr old healthy son also? Does this apply in foreign countries, if he travels abroad? If he pays the bill does this reimburse accordingly? or just US based?

A: The Value Health plans should supplement other regular major medical insurance and should be used alone only as a last resort when no other insurance is available.

The best option would be to use the temporary address outside of New York to obtain insurance. All plans provide national coverage and are "transportable" from one state to another so the address only determines what type of insurance is available. New York has few high quality/low cost health insurance choices for young adults as compared with other states.

Consider "Simple STM" or a similar major medical insurance listed at Freedom Benefits insurance exchange that are popular choices for young working adults in most states.


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