At a time when one of six Coloradans is uninsured, and major career decisions can be made out of fear of losing one's health insurance benefits, it's comforting to know new options exist.
For many Coloradans, a safety net was extended this month with the release of Rocky Mountain Health Plans' new "Solo" individual and family health plans. Through the plans "disaster" insurance can be obtained by Larimer County residents for as little as $1.50 per day.
 ADVERTISEMENT
|
|
Nonprofit Rocky Mountain Health Plans, the state's sixth-largest provider of health coverage and third-largest provider of small group and Medicare insurance, is reaching out to Colorado's uninsured population - approximately 770,000 people, according to the Colorado Coalition for the Medically Underserved.
Grand Junction-based Rocky Mountain Health Plans rolled out eight new health plans designed to whittle away at Colorado's uninsured population. The Solo health plans are geared toward young couples, new college graduates, the self-employed and early retirees.
Company officials say the plans' targeted ages - 18 to 35 and 60 to 65 - make up about 60 percent of the state's uninsured population.
"We are confident that Solo Health Plans will fill a huge gap," said John Hopkins, president and CEO of Rocky Mountain Health Plans, or RMHP. "We believe that once people around the state take a look at these plans, they will like what they see."
The Solo plans offer varying deductibles and benefit options. Each plan includes prescription drug coverage, lab and X-ray services, hospital care and well-child exams.
Members can choose optional benefits, such as maternity care or the ability to open a health savings account.
One factor in the company's decision to launch the Solo plans is the trend of employees opting out of health plans offered by employers due to cost considerations.
"Anymore, people can't always afford their company's group plans," said Jim Swayze, vice president and general manager of RMHP. "More people are looking for affordable individual plans."
Another concern settles around the growing popularity of mini-medical plans, or "mini-meds."
These plans offer low monthly rates and are often geared toward employers who can't afford major medical benefits for their staff, but at least want to provide basic, preventive medical care.
The problem lies in the fact that mini-med policies have lifetime benefit caps as low as $50,000 or $100,000.
Critics say mini-med policies are like buying insurance that pays for minor car repairs but not for major damage. Swayze views the trend as "dangerous."
"It's backwards," said Swayze. "Mini-meds may pay for doctor visits, but can leave you bankrupt from a major hospital stay.”
Swayze said with its Solo plans, RMHP strives to strike a balance between selling a product that is affordable and one that is there when you need it.
RMHP’s Web site allows prospective clients to enter minimal data, such as age, sex, date of coverage and history of tobacco use to obtain an immediate rate quote. Those looking for a safety net, capable of preventing financial disaster in the event of a major illness or injury might be surprised to know how affordable peace of mind can be.
For example, a 44-year-old Larimer County male nonsmoker can obtain insurance for as little as $89 per month. This coverage would include a 20 percent co-pay, $10,000 deductible, $10,000 maximum out-of-pocket expense, and a $2 million maximum lifetime benefit.
A 21-year-old female in Larimer County could obtain the same coverage for as little as $57 per month. A family of four could expect to pay as little as $200 per month.
Those electing for lower deductibles or lower maximum out-of-pocket expenses could expect to pay more.
Also important to area residents, said Swayze, is the fact that RMHP has made expansion of its network in Larimer County a priority.
RMHP’s physician network includes more than 750 providers representing more than 80 percent of the area’s physicians.
This summer, the company’s physician network was expanded to include the Fort Collins Women’s Clinic and the Fort Collins Youth Clinic.
The next piece of the puzzle, said Swayze, is Associates in Family Medicine. RMHP is actively talking with the group and hopes an agreement will be reached soon.
Rocky Mountain Health Plans provides medical benefit plans and services to nearly 190,000 enrollees statewide. The nonprofit organization was founded in 1974 and offers a wide range of medical benefit options, including PPO, HMO, shared-funding and partially self-funded medical plans.
It also provides health plans for Medicare and Medicaid-eligible persons and children who receive care under Colorado’s Child Health Plan Plus program.
As a nonprofit organization, RMHP sets policy rates to generate a 3 percent return and funnels remaining revenues back into the communities in which it operates through donations and gifts.
coloradoan.com
