Most Ohio medical plans offer the coverage you need, without having to add any additional riders. If there is a particular option you want, or a specific deductible you prefer, typically, you can find a policy that meets your personal needs. Rates in the Buckeye State tend to be very affordable, so the cost of adding a rider or more coverage won’t put too big of a dent in your budget.
However, occasionally, there are instances where a niche benefit may be most appropriate on your individual or family coverage. We have taken the time to review the most popular riders and briefly provide details of their most important features below. We have also updated the information, to reflect that many riders changed when Obamacare was passed. If additional legislation is passed, we will publish a guide that reviews the impact of single and multiple-person plans.
Maternity Definitely, the most expensive option in the history of health insurance plans. UnitedHealthcare previously offered extremely affordable maternity options, but with the passage of the ACA Legislation, adding the rider became unnecessary. Typically, the cost was between $250 and $750 per month, and a 270-day waiting period was required. Anthem and Medical Mutual were also popular options for maternity benefits.
Maternity benefits are considered one of 10 “essential health benefits,” and are included on all Exchange-approved policies. The cost is absorbed in the premium, and partially offset by the federal subsidies. Most temporary and “Indemnity” plans continue to exclude these types of benefits. There is also NO waiting period for coverage to begin. Thus, if your policy is effective January 1, all covered expenses will be paid on that date.
Anthem Blue Cross was previously one of the best carrier options for private maternity coverage, although you had to meet the 270-day waiting period before benefits began. Most companies did not offer the rider and excluded all related expenses. The price was about $250 monthly, and of course there was no guarantee you would utilize benefits. Purchasing a maternity package through a local hospital became very popular choice, although you needed to accept their location and services.
Supplemental Accident A helpful, fairly inexpensive addition that will help reduce your deductible (and coinsurance) if there is an unexpected accident. Benefit amounts are usually available from $500 to $10,000 and this coverage is popular if you have active children involved in sports. Payments are typically paid for covered expenses incurred within three months of the injury.
The cost of the rider is often between $15 and $45 per month, depending on the benefit. Separate policies can also be purchased from companies other than the large health carriers. Often, they are reputable life/accident insurance companies. You also may have some nominal benefits through your credit card. Often, the amounts are between $500 and $5,000.
UnitedHealthcare offers this benefit along with a few other major carriers. Rates are reasonable and if you have a high deductible on your major medical benefits, it’s definitely worth considering buying this coverage. Purchasing a separate policy may be risky since there are many “companies” that offer bad versions of this product. If you are asked to pay an application fee more than $30, shop around for an alternative, or contact us.
Prescription Drugs Although all qualified policies include some form of RX coverage, there are still situations where a rider can either enhance or add the coverage. Of course, it’s hard to predict what your future need of prescription coverage will be. Many short-term plans offer various prescription drug choices.
Most RX enhancements will not help much if you use generic medications. And typically, you can not buy benefits once you are already being treated for the condition. Also, since drug benefits are now mandated (required) under qualified Marketplace plans, the need for enhanced RX benefits has diminished.
The major variables in RX coverage are generally the deductibles and copays that apply to benefits. Listed below are the current copays and deductibles for several popular private plans. Of course, no deductible and low copays provide smaller out-of-pocket expenses.
Molina Bronze – Generic – $20. Preferred Brand – $60.
Molina Options Bronze – Generic – $35. Preferred Brand – Deductible applies.
Molina Silver – Generic – $20. Preferred Brand – $60.
CareSource Bronze – Generic – $25. Preferred Brand – Deductible applies.
CareSource Low Premium Silver – Generic – $20. Preferred Brand – $50.
CareSource Silver – Generic – $10. Preferred Brand – $60. Non-preferred brand – $200
Ambetter Balanced Care 5 – Generic – $20. Preferred Brand – $60.
Ambetter Balanced Care 2 – Generic – $15. Preferred Brand – $50.
Ambetter Balanced Care 1 – Generic – $10. Preferred Brand – $50.
Oscar Classic Silver – Generic – $15. Preferred Brand – $100.
SummaCare Silver 5000 40 – Generic – $5. Preferred Brand – Deductible applies.
SummaCare Silver 3500 – Generic – $5. Preferred Brand – $50
Medical Mutual Market HMO 3500– Generic – $20. Preferred Brand – $40
There are also many prescription discount cards that are available online and through various websites. As a result of all of the variations, it’s difficult to rate the safety of each option. But if you are not asked to download any link or software, and can simply print the ID card, there should be no risk or cost. Of course, your pharmacist may also inform you that it does not reduce your cost and is worthless.
And although it is not a “rider,” if you are prescribed an expensive medication with no generic substitute, ask your physician or pharmacist for manufacturer coupons that can potentially save you thousands of dollars. One example is Isotretinoin (Accutane), which is a medication often used for treatment for severe acne.
Term Life Insurance Although Anthem, UnitedHealthcare and a few other carriers offer term life insurance riders, typically if you want $50,000 or more, you will pay much less by visiting Ohioterminsurancerates.com. However, if you only want $10,000-$20,000 of coverage, then adding coverage to your healthcare plan is not a bad option to consider.”Final Expense” policies are also offered to Seniors.
Term life plans are the cheapest form of coverage. A $250,000 (and sometimes $500,000) policy can cost less than $20 per month, depending on how long the rate is guaranteed. 10, 15, 20, and 30-year guarantee period are the most popular options. You are not required to keep coverage the entire duration of the policy.
Medical conditions have a large impact on the price. A “Super-Preferred” tier of rates is offered to applicants with no existing medical conditions. Family medical history may also be taken into consideration to determine if you qualify for these prices. Otherwise, preferred, standard, and non-standard tiers are available. Applicants with existing heart disease or a recent history of cancer treatment may be declined.
Dental Or Vision Two of the most popular add-ons are the dental and vision options. UnitedHealthcare, Anthem, Medical Mutual, Humana and Aetna offer very competitive rates. Coverages are similar when comparing plans so one of the most important considerations is determining if your provider is in their Network. If they aren’t, you’ll be forced to pay much higher fees. Delta Dental also offers several plans.
Typical dental coverages include comprehensive preventive benefits and a discount of approximately 30%-70% on major items such as root canal and wisdom teeth removal. Vision benefits often include one annual checkup and a pair of glasses every few years. Monthly costs are usually about $18-$32 for dental and $10-$17 for vision benefits. But there are many exclusions and limitations so you may want to contact us for a full explanation of the rider.
Also available are “limited discount” policies that simply offer coverage at a reduced cost. The price of these plans is very inexpensive, but billing often is annual, with no other option. Most of the carriers that offer coverage are not household names, and major procedures are typically not covered or only partially covered.