Assurant Press Release 8/30/2005
New Study Dispels Most Common Myths of Individual Health Insurance
Assurant Health’s Jim Oatman Available for Expert Commentary on AHIP Survey Findings and Market Trends
A new comprehensive study just issued by America’s Health Insurance Plans (AHIP), the national trade association of health insurance providers, finds that individual health insurance is more affordable, accessible, and offers broader benefits than is widely known.
Jim Oatman, a 20+ year veteran of the insurance industry and a Senior Vice President, Chief Actuary, Individual Medical at Assurant Health, is available to provide insights on this survey, the largest study to date of individual insurance markets – particularly survey results that dispel some of the most common myths about individual health coverage.
“Many consumers believe that the type and quality of insurance coverage that they can get through their employer is more comprehensive and less costly than through an individual policy. But, as the study demonstrates, that is not at all the case,” said Oatman.
In reality:
There are choices. Consumers can choose from a wide range of options – from health savings accounts (HSAs) to traditional indemnity plans, as well as a new generation of lower cost major medical offerings. Oatman can discuss the myriad options available and how consumers can work with their agents to determine the best fit for their needs.
It’s broadly accessible to most people. The AHIP study indicates that nearly 90% of applicants are approved for coverage. Research by Assurant Health, which sells HSAs and other health insurance to individuals and small groups, found that 29% of its HSA policyholders had incomes of less than $50,000. Also, 57% were over age 40, and 73% were families with children, closely reflecting purchasers of traditional health plans. In addition to broad accessibility, Oatman notes that the benefits are far more than the “bare bones” coverage consumers may fear.
It’s affordable. The AHIP study shows that the annual premiums for individual coverage are often lower than the average employer-sponsored health plans. Oatman points to the rapid adoption of HSAs – over one million new HSA accounts have been opened in the first half of 2005 – as a proof point for the favorable economics individual plans can offer.
Assurant Health’s Jim Oatman Available for Expert Commentary on AHIP Survey Findings and Market Trends
A new comprehensive study just issued by America’s Health Insurance Plans (AHIP), the national trade association of health insurance providers, finds that individual health insurance is more affordable, accessible, and offers broader benefits than is widely known.
Jim Oatman, a 20+ year veteran of the insurance industry and a Senior Vice President, Chief Actuary, Individual Medical at Assurant Health, is available to provide insights on this survey, the largest study to date of individual insurance markets – particularly survey results that dispel some of the most common myths about individual health coverage.
“Many consumers believe that the type and quality of insurance coverage that they can get through their employer is more comprehensive and less costly than through an individual policy. But, as the study demonstrates, that is not at all the case,” said Oatman.
In reality:
There are choices. Consumers can choose from a wide range of options – from health savings accounts (HSAs) to traditional indemnity plans, as well as a new generation of lower cost major medical offerings. Oatman can discuss the myriad options available and how consumers can work with their agents to determine the best fit for their needs.
It’s broadly accessible to most people. The AHIP study indicates that nearly 90% of applicants are approved for coverage. Research by Assurant Health, which sells HSAs and other health insurance to individuals and small groups, found that 29% of its HSA policyholders had incomes of less than $50,000. Also, 57% were over age 40, and 73% were families with children, closely reflecting purchasers of traditional health plans. In addition to broad accessibility, Oatman notes that the benefits are far more than the “bare bones” coverage consumers may fear.
It’s affordable. The AHIP study shows that the annual premiums for individual coverage are often lower than the average employer-sponsored health plans. Oatman points to the rapid adoption of HSAs – over one million new HSA accounts have been opened in the first half of 2005 – as a proof point for the favorable economics individual plans can offer.
posted by Kirby P at 7:48 PM
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