Unlocking the Benefits: Private Market Health Insurance | Insurance Insider | CIA

Unlocking the Benefits:
Private Market Health Insurance

Today, we're diving back into the world of private market health insurance and uncovering the hidden gems it offers over the public marketplace. We've previously explored the differences between various health insurance markets, including short-term and health share options. But now, we're focusing on the private market and why it's often the best choice for healthy individuals and families.


Customized Coverage

When it comes to safeguarding your health and well-being, it's abundantly clear that a one-size-fits-all approach simply won't suffice. Your health, like your fingerprint, is uniquely yours, with its own set of requirements and priorities. That's precisely where the beauty of private market health insurance comes into play – it empowers us to meticulously craft a personalized insurance policy that aligns perfectly with your distinctive needs and preferences.

Why should you be burdened with the weight of coverage that doesn't resonate with your individual health profile? In the world of private health insurance, we're committed to a philosophy of precision. We're here to ensure that you're investing in healthcare services that you genuinely require and will utilize to their fullest extent. Our goal is not just to provide coverage but to empower you with the freedom to choose precisely what makes sense for your unique health journey. Why pay for services that won't directly benefit you? Let's embark on a journey where your insurance is as tailored as your health needs themselves, ensuring that every dollar you invest serves a meaningful purpose in your well-being.

No More Paying for Unwanted Benefits

Have you ever found yourself pondering the peculiarities of the insurance world, wondering why every major medical insurance plan seems insistent on bundling in pediatric dental coverage, even if there isn't a single family member under the age of 18 in your household? It's one of those idiosyncrasies that characterize the industry, leaving many policyholders scratching their heads.

The good news is that private market insurance offers you a refreshing departure from this perplexing norm. Here, you're not shackled to unnecessary benefits that don't align with your current life stage or health requirements. Take, for example, the inclusion of coverage for pregnancy, substance abuse treatment, and psychiatric care—valuable services for some, but superfluous for others. In the private market, you have the autonomy to tailor your insurance plan precisely to your needs. It's a departure from the one-size-fits-all approach, where you only pay for what matters most to you, ensuring your insurance truly serves your unique health and lifestyle demands.

The Average Starting Point

When it comes to the pricing of private market insurance, it's important to note that it can vary depending on several factors. However, a helpful rule of thumb to keep in mind is that your premium typically correlates with the total age of all the individuals covered under your policy. This means that the older you and your family members are, the higher the premium is likely to be.

For example, let's say you're 35 years old and in search of individual coverage. In this scenario, the average starting premium is estimated to be around $350. This calculation is based on the principle of multiplying your age by a factor of 10, which is a common practice in the industry. It's a quick and convenient way to get a ballpark figure for your insurance costs.

Now, consider a family consisting of individuals aged 35, 31, and 12, with a total age of 78 (35 + 31 + 12). In this case, the starting premium would be approximately $780. This calculation underscores the importance of accounting for the ages of all members covered under a family plan, as it directly influences the overall cost.

While these figures provide a useful starting point, it's essential to keep in mind that insurance pricing can be influenced by various other factors, such as your location, the specific coverage options you choose, and any pre-existing medical conditions. Nevertheless, understanding this basic principle of age-based pricing can help you make more informed decisions when navigating the private health insurance market.


Government Assistance vs. Private Market

Low-income individuals may qualify for government assistance, but this often comes with the stipulation of being subject to the terms of those who are less healthy. If you're in good health, why pay the prices of those who aren't? Private market insurance lets you choose a plan that suits your health and financial situation.

At Craven Insurance, we're not your typical insurance agency. We're here for the long haul, committed to being your agent for life. With over 40 years of combined industry experience, we have the expertise to find you the best coverage at the best price. We won't "tag you and bag you" like some agencies; instead, our focus is on serving you and helping you understand the complex world of health insurance.

Access to Every Option

We have access to every plan option, including private market and off-exchange plans, making us unlike any other agency. We're not concerned about what's best for us; our sole mission is to find the best plan for you. Wherever you are in the United States, we're your nationwide insurance advisors. We're with you now and in the future, ensuring you have a trusted advisor in your pocket.

Guarantee the financial stability of your future in just a few minutes. Don't wait until it's too late to have the peace of mind you and your family deserve.

In the complex world of health insurance, it's always better to be safe than sorry, especially when it comes to your family's safety and well-being. At Craven Insurance, we're here to help, even in the most complex situations. Whether you have insurance coverage already or not, we can assist you. Remember, we're not just about finding a plan; we're about finding the best plan for you. So, why wait? Take that step to secure your future today.

Author: Bailey Craven
Modified: September 27, 2023