Health insurance benefits and costs between MA and IL?
Hi. One year ago I moved from MA to IL. I was really surprised to find out that MA have not much insurance companies and those have fundamentally high premiums and fixed choice (HMO AND PPO). Like I am 19 and student. The average cost in MA would be for me min $290 for HMO (and I feel required PCP sucks) and min $400 for PPO with deductible $5000 (BCBS)! Wow. Here within Illinois for about $140 I can hold PPO with deductible a moment ago $250 and copays for doctors and prescriptions (BCBSIL). I have also found New York state have also very unconditional and expensive health insurance. What it is that these states own very expensive premiums and set choice in select plans (for ex deductibles and copays and RX coverage)? Not everyone for ex needs coverage for prescription and that lowers monthly premium? so why? I guess these are some state legislations, but why not handful for citizens? Can someone answer my question?
Answers:
hope it help
Hi,
You can get some of your answers here:
Now you see why Massachusetts just passed a statute that basically ditched the private flea market for small employers.
You are finding out that respectively state has separate insurance law that require insurers to cover different benefits.
States that have a soaring level of benefit mandate and then also own a high stratum of regulatory control over rates have a difficult time attracting insurers to want to put up for sale there.
When you hold very few companies selling, here is no competition and the price goes through the roof...which is exactly what happen in Massachusetts. The costs get so high it be hurting small employers and individuals.
The crisis get to the point that the state has arranged to ditch the small market and move about to a statewide mandate where the state will income for the care of those who can't afford it.
You are also finding that Illinois have many competitors and second-rate rate regulation which means a better settlement for consumers.