Colorado health insurance policies are designed to provide health cover to individuals, self-employed, group of employees, the elderly and students. These policies are mainly intended to provide coverage to insured members in meeting their costs towards treatment, doctor visits, physician consultation, investigation, and operations besides the hospitalization costs.
If you are interested in an Individual policy, in Colorado you are subject to a medical review, and there is no guarantee that you will not be accepted. The insurance company may request your medical records from doctors and may exclude certain pre-existing medical conditions. They can also decline insuring you. Many plans will not cover maternity care, but you may be able to add it as a rider to the regular coverage. This will cost you more, but it's worth it. Without this coverage, the huge expenses involved in maternity care can really scare away expectant parents and the joy may soon turn into a burden. Coverage for pre-existing conditions vary and depend on what condition you have and what insurance you are looking for.
Group insurance policies are guaranteed and there is no medical review. A qualifying business has to be accepted by providing tax information and other documents requested. Acceptance of a group policy is contingent on qualifying as a business, and being able to provide the necessary tax and other documents requested by the carrier.
Health Savings Accounts (HSAs) have been in effect Colorado since January 1st, 2004. This allows for a high deductible medical insurance policy with a special tax-deferred "Health Savings Account." Anthem, Rocky Mountain Health plans, Fortis and United Healthcare, are just some of the Carriers that offer HSA compatible policies and many more are expected in the coming year.
When deciding on PPOs or HMO remember the differences. In an HMO your primary care physician is the one who has to refer you to specialists or other doctors. PPOs allow you to see other physicians without a referral. But, the doctor you see must be listed in the PPO network. PPOs are more expensive than HMOs. They both have pluses and minuses.