NJ Health Insurance for Pre-Existing Conditions Goes Into Effect
August marks the month that federally funded health insurance plans make their debut in New Jersey. Individuals living in this state can now take advantage of National Health Insurance Act that was signed into law on March 23, 2010. Also know as Patient Protection and Affordability Act or Obamacare.
NJ Health Insurance Requirements
There are several requirements you must me to qualify and use of the $141 million dollar healthcare benefit. Main requirement is you must be a New Jersey residents with plan defined pre-existing conditions who has not had health insurance for the last six (6) months.
New Jersey Protect plan is a high-risk pool plan. Many states have high risk pool plans, that allow individuals who do not qualify for fully underwriter insurance to apply for and become insured based on the pre-existing conditions, coverage’s and plans the insurance was on in the past. Typically these plans are very expensive, because the carriers who underwrite them know the expenses are going to be much greater when you do not have any low-risk individuals to spread the losses across.
Basically what we have is the old system, called something new, but portions of the expenses being picked up by Obamacare, ant that portion is $141 million dollars.
New Jersey is one of the few states that bans heath insurance providers from refusing coverage for pre-existing conditions such as cancer, high cholesterol HIV-AIDS or hypertension making it a state many carriers will not do business in, and also making the base rates for all plans more than the national average. So even if you are health, you will pay more than your health counterpart in other states, thus making you pay even more than your fair share.
Many people wonder when the FREE HEALTH CARE is going to kick in, and by the looks of the early adopters it seems it will not be FREE to most. It may cost less each month, because the government is paying to subsidized the premium but they will get the money from somewhere to pay for it.
We also here that individuals without health insurance will be fined if they done have it, but the fine is less than a few months premium in most cases so will it really have any impact at all?
Somehow the insurance is going to get paid for on any health care plan, and with the cost of medical expenses rising and the lack of expense control it seems we are just putting a $141 million dollar band aide over a much larger problem. How do we fix the problem, Americans need to take some control of their own health care by understanding all the expenses, sharing in a portion of those expenses and in-charge of controlling the costs like every other consumer product on the market.
No insurance professional will tell you to go without coverage, but there are several ways to use insurance the way it was designed and reduce your costs. Buy a high deductible plan, for starters. You don’t need a $45.00 co-pay, I know you have been trained to think that but it is just a lazy way out. Actually engage you doctor, and ask them how much does it cost? Get a second opinion, if needed and don’t be afraid to say NO. I DON’T NEED A $14.00 Q-tip.
Is there an easy answer to healthcare, NO. However if you spent more time buying your last house or car than you did than you did working on your healthcare plan ( the largest expense you could ever have) then you are probably part of the healthcare crisis.
Written By Jeff Cline (Insurance Agent) who writes for PolicyStore.com