I am considering applying for an indiv policywith HumanaOne (Missouri) in anticipation of early retirement. What is their reputation? What are the pros and cons of taking Cobra for 19 months v.s. getting indiv insurance right away?
I have a Humana One HSA compatible health insurance policy as well and have been very satisified. Recently Humana One released a whole new line of products called Portrait, Autograph, and Monogram. The Portrait plans were designed to mirror employer sponsored coverage and are also the most expensive. The Autograph plans offer high deductibles for major medical in combination with copays and a drug card for the everyday expenses. There is also an HSA compatible Autograph plan (one with Rx coverage and one without). The Monogram plan is a 7500 deductible plan with 100% coverage after deductible, but it's not HSA compatible, because it also offers a drug card with a $15.00 copay for generics, and a separate, $1000 deductible for brand and non-preferred brand name drugs.
All of Humana One's new plans offer coverage for preventive care NOT subject to the calendar year deductible. You get cancer screenings AND an office visit covered at the coinsurance level of whatever plan you choose.
No matter which deductible you choose for a drug card, you will get generics at the copay level without having to satisfy the Rx deductible. (except on the HSA compatible plans - on those, all Rx costs will apply to the deductible if you choose the one that offers Rx coverage).
I would avoid Cobra if you are healthy, only because COBRA is temporary insurance, and if you develop a pre-existing condition while on COBRA you could become uninsurable in the individual market. If you already have a costly pre-existing condition, you may not be insurable in the individual market, in which case, COBRA would be your only alternative until you could find other guaranteed coverage either through a state risk pool or new employment.
I really like Humana's new plans. They put a lot of thought into the plan designs, and therefore, they seem to have been able to come up with a good combination of benefits with competitive rates. Ratewise, they are beating most other carriers in Colorado right now. I'm not sure how they compare in other areas.
