Cigna Health Insurance Limits Networks

The newest option for health insurers is plans with limited networks.  Companies like Cigna health insurance, Aetna, Wellpoint, and UnitedHealth Group are offering limited-choice plans to cut costs, according to “Health insurers promoting limited-choice plans to keep costs down.”  The article, by Reed Abelson of The New York Times, says that while you will have fewer choices when it comes to doctors and hospitals, you will also pay a lower premium and save money with these limited-choice plans.  Big cities like New York, San Diego, and Chicago have already had the plans tested and they are popular with small businesses as well as larger ones.

Both insurers and consultants are confident that even more businesses and individuals will see the benefits offered by these limited-choice plans.  Company premiums will be reduced by as much as 15%, which is important in a time where money is one of the biggest concerns facing individuals and businesses.  For those who want to keep their doctors or hospitals that aren’t covered in the limited networks, they will have to pay extra or make the decision to change.  Many Americans who were previously uninsured will be helped by these lower premiums because they don’t have a doctor to leave; they’ll be able to choose from their limited list to seek treatment.

Smaller companies like Aultcare health insurance stand to gain a lot by offering limited-choice plans.  The plans eliminate so-called “Gucci doctors” charging more for perceived better care.  Employees will have to pay out of pocket to see such doctors if they choose a limited network option.  Some employees offered the option of lower premiums for limited choices aren’t interested, so they continue to pay their higher deductibles and out-of-pocket costs to keep their large network.  These limited-choice plans appear to work so that insurance companies can remain affordable to consumers looking to save wherever they can.

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