Affordable Health Insurance
Affordable Health Insurance
According to America’s Health Rankings, Virginia ranks 26th in the nation in terms of percentage of population lacking health insurance, with 13.6% of its population lacking health insurance.
Virginia’s health insurance companies determine rates for individual insurance policies based on geographical location, age, medical history and other rating factors. Individual insurance policies are subject to medical underwriting and can deny coverage due to pre-existing medical conditions for 12 months.
When do you need to buy individual Virginia Health Insurance?
One needs to pursue individual health insurance if all of the following are true:
a) If your employer does not offer health insurance benefits
b) If you cannot be named as a dependent on another person’s insurance policy
c) If you are not a member of a professional or a trade organization that offers health insurance
Types of Health Insurance in Virginia
a) Indemnity Policies (Traditional Fee for Service Health Insurance)
Indemnity Policies offer tremendous freedom with respect to choice; one is free to visit any provider in Virginia for covered medical services.
b) Preferred Provider Organization (PPO)
A Preferred Provider Organization provides a list of contracted providers; one receives the best services at the lowest cost if one restricts oneself to the limited list of providers in Virginia for their health insurance needs.
c) Health Maintenance Organization (HMOs or Managed Care)
HMOs require members to obtain their medical services from doctors and hospitals affiliated with the particular HMO in Virginia for their health insurance needs.
d) Self-Insured Health Plans
Large employers in Virginia often have self-insured health insurance plans where all contributing employees pool in their contributions to pay for the medical services for the members of the plan.
Family Access to Medical Insurance Security
FAMIS is Virginia’s program that helps families provide health insurance to their children.
Virginia HealthCare Foundation
VHCF was started in 1992 by the State of Virginia to promote and fund innovative public-private partnerships to provide primary medical care for Virginia’s uninsured and medically underserved.
Virginia-COBRA
The Consolidated Omnibus Budget Reconciliation Act (COBRA) is federal law that extends one’s current group health insurance under certain qualifying events such as termination of employment or reduction of hours to part-time status. To be eligible for COBRA, the employer needs to have more than 20 employees.
Unlike other states, Virginia does not have a mini COBRA law that provides COBRA provisions for employers less than 20 employees.
Resources for Health Care Insurance in Virginia
Georgetown University’s guide to Health Insurance in Virginia
Georgetown’s Health Policy Institute has researched and written state guides for buying affordable health insurance in every state.
US News Rankings for best commercially-available health plans. Rankings reflect member satisfaction and success in preventing and treating illness compared with other commercial plans. The highest possible score is 100.
Health Care Advocacy Groups in Virginia
Virginia HealthCare Association
Virginia’s HealthCare Association’s mission is to promote the quality of delivery of extended care medical services; its membership consists of 300 assisted living and nursing home facilities in Virginia.