A Guide to Health Insurance in Nebraska (NE)

If you are looking to save money on your Nebraska Health Insurance then there are several measures that you can immediately take to make sure that your health insurance in Nebraska remains competitive and good value for the money you spend on it:

1/ Be on the look-out for any changes that an employer makes to your policy

The bulk of health care is handled through Group Nebraska Health Insurance Plans that are taken out by employers for their workforce. According to the Kaiser Family Foundation, this portion of the market represents 54% of the healthcare market in Nebraska (49% in the US as a whole), and so there is a good likelihood that you currently have a health policy through your job.

It is important to realize that the terms of these policies can and do change and that you need to keep a careful eye on what those changes are. Sometimes these can improve the consumer position, such as the new Autism law in Missouri for example, or many of the provisions of the Affordable Care Act.

But there are also occasions when the health insurance companies in Nebraska may be trying to claw back some of the profits that they will lose from having to withdraw lifetime limits on entitlement, increasing preventive health services, or offering cover to those with existing medical conditions.

Despite their rhetoric about care, the fact is that health insurance companies in Nebraska and elsewhere are mainly concerned with profit and are not tasked with providing a universal health care system.

Whilst this is perfectly understandable, once you appreciate that fact you also have to keep an eye open for changes that they make to policies that are in the interests of profit, but not in the interests of consumers.

Lifetime Limits

You could for example consider ‘Lifetime Limits’ to fit squarely into this camp, as they are far more prevalent than you may think.

A report by Price Waterhouse Coopers in 2009 showed that 55% of all employer provided health insurance policies had lifetime limits as of 2009, and that the most common limits were either $1 million or $2 million.

That sounds like a lot until you consider that a single intestine replacement surgery for example can cost $1.1 million, and open heart surgery $750,000. So it is easy to see how you could go above those limits, and in fact Price Waterhouse Coopers estimated that 20,000 – 25,000 people no longer had a health insurance plan from their employer at the time of writing the report because of lifetime limits.

Now, under the Affordable Care Act, lifetime and annual limits are due to be abolished in 2014.

But had they not of been then Price Waterhouse Coopers estimated that by 2019, 300,000 people would be affected by lifetime limits.

And the fact remains that health insurance companies will always seek to make rule changes in their policy terms and conditions that save them money or make more profit, and if it isn’t lifetime limits, then it will be something else.
You need to remain vigilant for these changes so that you don’t fall foul of them.

2/ Take advantage of incentives for staying fit and stopping smoking

Most Nebraska Health Insurance Plans offer wellness incentives.

The way these work differs between insurers, and so you should check on exactly what basis they will offer discounts. But normally they will reward behavior like weight loss, regular exercise and quitting smoking because it demonstrably does impact on how likely they are to have to pay out on any health insurance that you have with them.

You should take advantage of these wherever possible, because not only may it save you money, but it will also have a positive impact on your health.

3/ Take a look at Tax-Free Savings Accounts

There are also some tax efficient ways to save for the cost of your health insurance, and these can potentially save you money.

The two primary ones currently are the Flexible Savings Account (FSA) and the Health Savings Account (HSA).
Learn more about both of these and how they can potentially help you to save for the cost of your Nebraska Health Insurance, and also about how the tax benefits can help you.

It is also a good idea to get some Nebraska Health Insurance Quotes so that you can get an up to date picture of the market, and how much cover may cost.

It may surprise you if you get several quotes as to how much you can potentially save simply by shopping around for quotes and comparing your options.


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