UnitedHealth Group is again at the leading edge of technology and the delivery of healthcare services to patients and providers. Today UHC announced a new product designed to help patients secure medical insurance in the event they are no longer covered by another carrier.
In a way, UHC is offering insurance for your existing insurance. This first of its kind product is called UnitedHealth Continuity. It allows patients the right to purchase an individual insurance policy at some point in the future–even if the patient gets sick.
Patients who enroll in it will pay “20 percent each month of the current premium on the individual policy to reserve the right to be insured under the plan at some point in the future” (NYT). A typical Continuity plan is expected to average approximately $32 per month.
If the promised reforms of the incoming Obama administration materialize this service may become obsolete and in fact may become a free offering by all major insurance carriers. However, until that time, and with the job market collapsing, there are many people who may consider this a very welcome product. Additionally, if the Obama administration is unable to deliver on campaign promises to reform the purchase and delivery of healthcare insurance in the US, more insurance carriers maybe following in the footsteps of UHC.
UHC has been at the forefront of service delivery in the insurance space. It was among the first carriers to provide real-time claims adjudication–a service whereby physicians and their staff are able to immediately determine the patient responsibility on new claims.
Currently, MTBC is one of the only companies in the country providing this service for physicians who participate with UnitedHealth. Read more about MTBC and UnitedHealth here.