The Two “Costs” Of Healthcare


The first is the premium cost to have health insurance. The second is the cost associated with using it. If it is affordable but unsuitable due to high deductibles, co-insurance, and out-of-network charges then it is really not a manageable plan.

CentralChoice products include cost effective supplements to fill gaps left open with other products including both qualified major medical as well as limited benefit plans.

One of two possibilities will occur for you this year; you will either be hospital confined, or you will not. It is unlikely that many of us will exceed our deductible in a year without a hospital stay. So, in most years we wind up paying our insurance premiums and most or all of the cost of our treatment. But, if and when we are hospital confined, the high cost of treatment will likely have us reach the maximum out-of-pocket threshold of any qualified major medical plan level for even a relatively short confinement.
 

The Importance of CentralChoice as Supplemental Coverage


Our PremierChoice and SelectChoice package designs each feature a variety of both inpatient as well as outpatient benefits, including surgery. CentralChoice benefits can be paid to any hospital or doctor and when MultiPlan providers are used additional savings through negotiated discounts may be available.
 
What are now referred to as “qualified plan designs” feature deductible and coinsurance exposure over $6,000 per person per year. This is above the premium cost. Many see the merit of purchasing the “qualified” Bronze plan and using the premium difference between that and more expensive designs to purchase supplemental insurance to “fill the gaps.”

 

CentralChoice Plan Designs

PremierChoice - is particularly well suited to those aged 50-plus who have pre-existing medical conditions (remember, there is a 12-month wait on pre-existing conditions).
 
SelectChoice - design is suitable for those with limited budget who desire an affordable plan to which they can add additional customized coverage for necessary Critical Illness, Cancer and Accidents. (Available separately) It provides a backbone for a quality portfolio of these additional supplemental policies.
 
EnhancedChoice - a versatile option, this plan can serve as a solid supplement to qualified major medical policy.

 
EssentialChoice - a cost effective way to provide a variety of benefits used to “fill the gaps” in qualified major med plans. While the Supplement Plan is sufficient to supply the benefits necessary to reduce or even eliminate the out-of-pocket costs associated with an average period of hospital confinement when used with major medical, it should be supported by additional CI, Accident and Cancer policies whenever possible for the highest levels of protection.

 
Benefit exclusions and limitations may apply to the policy. For additional information about this or any of our other quality products, please contact us or your ManhattanLife Agent or Broker.

THIS IS A SUPPLEMENT HEALTH INSURANCE POLICY, AND IT IS NOT A SUBSTITUTE FOR MAJOR MEDICAL COVERAGE. LACK OF MAJOR MEDICAL COVERAGE (OR OTHER MINIMUM ESSENTIAL COVERAGE) MAY RESULT IN AN ADDITIONAL PAYMENT WITH YOUR TAXES.