Mevish Jaffer, contributing editor
Increasing competitiveness translates into good news for consumers in the individual health insurance market. Why? Because new product/service offerings suggest that more insurance companies are in competition to earn your business. Therefore, this has the potential to cause reductions in the insurance premiums set by existing companies.
The Waukesha-based division of Human, Inc., HumanaOne has recently announced plans to commence with a new portfolio of consumer friendly plans to residents of Wisconsin later this month, set to become officially available on May 26th. These plans are currently available to the residents of Colorado, Florida, Kentucky and Tennessee.
HumanaOne is aware of the fact that millions of individuals have been loosing their employer-sponsored group health benefits, which is one of the reasons the company is offering this portfolio of health plan designs. With the objective to appeal to a broad range of consumers, HumanaOne hopes to allow individuals and families to choose a health plan that will fit their every personal need and preference. Humana One’s newly unveiled plan designs are being offered in three distinct health insurance product packages which include HumanaOne Portrait, HumanaOne Autograph, and HumanaOne Monogram.
HumanaOne’s Portrait plan specifically caters to individuals and families who wish to reduce the risk involved in their lives. The Portrait plan is considered among the premium health insurance coverage options with benefits comparable to those of employer-sponsored group health plan designs with a high caliber of first-class service and easy medical care accessibility.
Consumers that are after extremely flexible benefit options and favor the availability to have more control over their healthcare options will prefer HumanaOne’s Autograph plan. This plan offers up a broad range of deductible opportunities which have the ability to be used in combination with the popular health savings account option.
Of the three plan packages being offered by HumanaOne, the Monogram plan is considered the most affordable. The Monogram plan appeals to health-conscience individuals who seek a high level of health insurance plans to cover major medical expenses. All three plans designed by HumanaOne have the ability to be personally customized by adding extra benefit selections including life insurance, dental insurance or accidental insurance coverage plans.
The portfolio of plan designs by HumanaOne offers up capable benefits with varying annual deductibles that range from $1,000-$7,500 for a single individual and $2,000-$15,000 for family plans. HumanaOne representatives confirm that plan design rates will be guaranteed for a period of one year and start for as little as $30 per month on the Monogram plan.
According to current market statistics, more than 18 million Americans are receiving coverage under an individual health insurance plan. Additionally, this number is being predicted to significantly increase due to the declining number of employers who are unable to provide adequate group health insurance benefits. Seeing a need in the market, HumanaOne has done it’s best to design a group of individual products that will cater to many more consumers in the individual health insurance market.