Not a day goes by without information concerning the lack of health insurance for millions in this country. An astonishing 20.2 million American women now lack health insurance, according to recently released U.S. Census Bureau statistics. It's estimated in the past year alone, approximately 335,000 women age 40 to 60 years old filed bankruptcy due to medical reasons. Fifty percent of personal bankruptcies in the U.S. are due to medical bills.
The stress of being without insurance can be deadly. According to a report from the Institute of Medicine in Washington D.C., individuals who lack health insurance tend to live sicker and die sooner than those who have employer-based or individually purchased policies.
If you're thinking about leaving your job or have lost your job, sign up for the least costly health plan during open enrollment for COBRA. This will help reduce the cost, which usually is very high. If you stay on COBRA for the allowed time, the Health Insurance Portability and Accountability Act (HIPPA), allows you to move to group coverage offered by a new employer without having to satisfy any waiting periods. It also guarantees you access to individual health insurance-though federal law doesn't say what insurers can charge.
The Illinois Comprehensive Health Insurance Plan (CHIP) is a program established and maintained by the State of Illinois to provide health insurance coverage for residents of Illinois who, due to the existence or history of a medical condition, are unable to acquire coverage through private insurance, an HMO, or an employer-sponsored group health plan. You can get more information on rates at their Web site (www.chip.state.il.us).
As an insurance agent, what do I say to people who've lost their jobs and can't afford the COBRA premium or even an individual plan? This is an all-too-common problem, and the answers coming from our legislators aren't promising. The rising costs and the reduction of coverage are affecting all of us. It's important to begin with what you can do right now for yourself. Insurance is meant to cover catastrophic events-not routine maintenance. Living a healthy lifestyle can help. There's no end to advice on that subject in magazines, newspapers, and television. Make a commitment exercise-the upside is your mood might improve along with your health. TPW