When you search your options in Chicago, online or through The Shoppe, you will be presented with about 6 carriers to choose from dependent on your search provider. The Shoppe markets 6 carriers for you to choose from.
In Chicago, the 2 most competitive health insurance carriers are going to be Celtic and Blue Cross and Blue Shield of Illinois (BCBSIL).
Celtic is a carrier that markets only individual and family plans, not large or small group...reducing the amount of risk on their books. Typically Celtic will beat out BCBSIL in rates when you are under 35 years old. Celtic uses the Private Health Care Systems (PHCS) network, one of the nations largest. The only downside to Celtic is that after the first year of coverage your plan will renew semi annually while all other carriers are annually.
- premiums can increase based on height and weight and current treatment
- specific medical conditions can be excluded from coverage
- 12 month pre-existing medical condition waiting period
BCBSIL offers the largest network of providers in Illinois, great customer service, simple plan designs and the best ER benefits available. BCBSIL is not for anyone. If you do not have a current Blue Cross and Blue Shield (BCBS) plan for at least 12 months without a gap greater than 63 days prior to application, BCBSIL will impose a 12 month waiting period for pre-existing medical conditions; conditions that were treated (meds) consulted or diagnosed within the 12 months prior to application. This means that all current treatment will not be covered for the first year. If you have current BCBS coverage than the waiting period will be waived.
- premiums only increase if you smoke (25%) or if you are above or the height and weight guidelines (25%)
- specific medical conditions can be excluded from coverage
- rates are age banded every 5 years...a 25 year old will have the same rate as a 29 year old
Next in line are Humana UnitedHealthCare (UHC) and Aetna. If you take current prescription medication or have a medical condition that BCBSIL will exclude from coverage than these carriers are the route to go.
Humana is next in line after BCBSIL when it comes to premiums. Medical conditions that are disclosed on the application will be covered from day one as long as they are not excluded from coverage. For some medical conditions, Humana will issue a separate condition specific deductible in addition to the plan deductible. When it comes to exclusions, Humana is more lenient than BCBSIL.
- 2 tier rating system; Preferred and Standard
- dependent on cost of current treatment, premiums can increase up to 100%
- specific medical conditions can be excluded from coverage
- contraceptives are not covered
- HSA plan design may be less in premium than BCBSIL
After Humana is UnitedHealthCare (UHC), who is just about the same in medical underwriting guidelines as Humana. Like Humana, UHC will cover conditions that are disclosed on the application as long as they are not excluded from coverage.
- 4 tier rating system; Preferred, Preferred II, Standard and SubStandard
- dependent on cost of current treatment, premiums can increase up to 100%
- specific medical conditions can be excluded from coverage
Finally there is Aetna, who only waives the 12 month pre-ex if you have had 12 months of prior coverage, not dependent on prior carrier. Aetna is unique as they do not place exclusions. Aetna can increase your premium up to 100% or decline coverage.
Assurant is the last carrier The Shoppe markets and will be the most expensive option available with no special benefit about their coverage. If coverage can not be placed with any of the above carriers, it would be more cost effective to apply to the state plan ICHIP than Assurant.
For further information about your options in Chicago, please contact The Shoppe.
