Saturday, January 09, 2010

HumanaOne® Expands Short Term Health Insurance to Five Additional States

(BUSINESS WIRE)--In these difficult economic times, it is not unusual for people to find themselves temporarily without insurance, through no fault of their own. To fill this need, HumanaOne®, the individual health arm of Humana, is expanding its individual Short Term health insurance product to five additional states.

“We have other products that may be a better fit if you are looking for long-term coverage”

Humana’s Short Term product is now available in Illinois, Iowa, Missouri, Georgia and Kansas. With these additions, HumanaOne now offers Short Term health insurance in 20 states. The product also is available in Alabama, Arizona, Arkansas, Colorado, Florida, Indiana, Kentucky, Louisiana, Michigan, Mississippi, Nebraska, Ohio, Oklahoma, Texas and Wisconsin. Plan design varies somewhat by state.

Short Term health insurance offers a timely, affordable health insurance alternative for people in transition, including:

* Students who are about to graduate
* People who are between jobs
* Part-time, temporary or seasonal employees
* Recent retirees not yet eligible for Medicare
* New employees waiting for benefits
* People who are unemployed

“It can be very tempting to forgo health insurance when you’re between jobs or waiting for your benefits to kick in, particularly when you’re young and healthy,” said Steven DeRaleau, chief operating officer of HumanaOne. “But that’s a gamble you could lose, leaving you saddled with medical debt for the next decade or longer.”

In all cases, the application process for a HumanaOne plan is quick and easy. In fact, if eligible, coverage can begin the very next day after the applicant is approved.

Like all HumanaOne products, Short Term health insurance includes great flexibility. Applicants can choose the length of their policy (from 30 days up to six months or one year, depending on the state) the deductible ($500 to $5,000 for individuals or $1,000 to $10,000 for families) and the payment method (credit card, electronic funds transfer, single or monthly check). A discount of up to 20 percent is offered to those who pay the full amount up front.

These plans have a $2 million maximum benefit and include prescription drug coverage. They do not cover preexisting conditions.

“We have other products that may be a better fit if you are looking for long-term coverage,” DeRaleau explained. “Short Term plans are meant primarily as a bridge to protect people against sudden illness or accident until they can get to another plan.”

Humana markets HumanaOne plans through insurance agents and brokers, as well as directly to consumers. For more details, visit or contact your nearest HumanaOne agent.

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Monday, January 04, 2010

Maximize Your Insurance Dollars in 2010; Avoid the Five Biggest Insurance Mistakes

/PRNewswire/ -- As the new year begins many consumers will be making resolutions, including about saving money. There are several ways to save money on insurance, but consumers should be careful about the ways in which they cut their insurance costs, according to the Insurance Information Institute (I.I.I.).

"Money is tight right now and many people are looking for ways to cut costs," said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I. "However, there are smart ways that savvy consumers can save on their home and auto insurance, and there are mistakes that can result in being dangerously underinsured."

Following are the five biggest insurance mistakes consumers should avoid:

1. Insuring a home for its real estate value rather than for the cost of
rebuilding. When real estate prices go down, some homeowners may think
they can reduce the amount of insurance on their home. But insurance is
designed to cover the cost of rebuilding, not the sales price of the
home. You should make sure that you have enough coverage to completely
rebuild your home and replace your belongings. A better way to save:
Raise your deductible. An increase from $500 to $1,000 could save up to
25 percent on your premium payments.
2. Selecting an insurance company by price alone. It is important to
choose a company with competitive prices, but also one that is
financially sound and provides good customer service. A better way to
save: Check the financial health of a company with independent rating
agencies and ask friends and family for recommendations. You should
select an insurance company that will respond to your needs and handle
claims fairly and efficiently.
3. Dropping flood insurance. Damage from flooding is not covered under
standard homeowners and renters insurance policies. Coverage is
available from the National Flood Insurance Program (NFIP), as well as
from some private insurance companies. Many homeowners are unaware they
are at risk for flooding, but in fact 25 percent of all flood losses
occur in low risk areas. A better way to save: Before purchasing a
home, check with the NFIP to check whether it is in a flood zone; if
so, consider a less risky area. If you are already living in a flood
zone area, look at mitigation efforts that can reduce your risk of
flood damage and consider purchasing flood insurance.
4. Only purchasing the legally required amount of liability for your car.
In today's litigious society, buying only the minimum amount of
liability means you are likely to pay more out-of-pocket -- and those
costs may be steep. A better way to save: Consider dropping collision
and/or comprehensive coverage on older cars worth less than $1,000. The
insurance industry and consumer groups generally recommend a minimum of
$100,000 of bodily injury protection per person and $300,000 per
5. Neglecting to buy renters insurance. A renters policy covers your
possessions and additional living expenses if you have to move out due
to a disaster. Equally important, it provides liability protection in
the event someone is injured in your home and decides to sue. A better
way to save: Look into multi-policy discounts. Buying several policies
with the same insurer, such as renters, auto and life will generally
provide savings.

"By taking a few simple steps, it is possible to cut costs and still be protected should disaster strike," pointed out Salvatore. "When money is tight, it extremely important to be financially protected with the right amount and type of insurance.

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