Health Insurance in Iowa: Choosing the Best Option for You

There is no denying the huge benefits derive from purchasing health insurance policies, in the light of rising costs of medical and health care services. There are a lot of health insurance policies offered in the state of Iowa, designed for the varying needs of its residents. One of the most common products is the individual health insurance policy, which consumers procure for himself, in order to pay for any medical costs in the future. Issuance is not guaranteed not unless the consumer has at least 12 months of continues prior coverage. Those who have pre-existing medical conditions may be asked to include a 12-month exclusionary period, which means that pre-existing conditions will be covered only after 12 months after the policy has been enforced. The state also allows insurance providers to include elimination riders into a policy which states that pre-existing conditions are excluded from the policy altogether. Insurance companies are also allowed to impose premium rates based on gender, health status, age, and occupation. Consumers who feel that insurance providers have rejected their insurance applications due to discrimination in any of the factors mentioned above should also file a formal complaint with the Iowa Insurance Division.

Another type of health insurance policy available in Iowa is the one that is available for small groups or companies. Unlike individual health insurance, a employee will be guaranteed issuance of coverage despite health status or the presence of pre-existing health conditions, though insurance providers may also ask to include 12-month exclusionary period for pre-existing medical conditions if the employee does not have prior creditable coverage for at least 6 months. Under the small group health insurance coverage, rates of premiums do vary slightly, based on the health status of employees. And in the case when the employee of a small business gets terminated or has resigned, state law allows that employee to extend the group health coverage for 9 months though premium will now be shouldered solely by the resigned or terminated employee. This kind of insurance continuation is also available for those who have used up their COBRA coverage.

Of course, those who are employed in large companies are normally given health insurance coverage through group health plans. These employees are also assured of coverage, though the exact premium rates and condition would depend on the type of plan purchased by their employer, who is designated as the policyholder. Iowa law also allows employers to modify or change health coverage when deemed necessary.

A small number of people may also be rejected by insurance companies due to their health status. These residents have the option of availing of the Health Insurance Plan of Iowa (HIPIowa), which was designed to meet the insurance needs of high-risk individuals. To qualify, the applicant must be a certified resident of Iowa, must present proof of being rejected by private insurance companies, is not qualified under a group health plan, and is not eligible for public programs in which reimbursements are given by the government or any health care provider. There are several plans included under the HIPIowa and premium rates vary accordingly. Different deductibles are also offered under these plans. Consumers also have choices on how to make payments for HIPIowa coverage. Those who are eligible for this insurance program should contact an insurance agent for assistance and guidance. Under this program, the state pays a fixed fee to the insurance agent for assistance provided.

There are also instances in which the state allows premium payments to be entirely tax deductibles. This privilege is extended to self-employed individuals or persons who are associated with a corporation but are not eligible under the group health plan, such as partners and shareholders.

We help our Iowa customers in Des Moines, Cedar Rapids, Davenport, Sioux City, Waterloo, Iowa City, Council Bluffs, Dubuque, Ames, IA and other cities in the Hawkeye State lower their premiums and save money on all types of insurance. Use the form above to find low cost auto, homeowners, health, medical, life and long term care insurance. Using our Iowa insurance agent and broker network, you can easily compare rates from multiple insurers.

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