The IHC Group, an insurance organization composed of Independence
Holding Company (NYSE: IHC) and its operating subsidiaries, recently
announced the launch of Defined Solutions, a guaranteed issue limited
benefit medical insurance plan for individuals and families. Defined
Solutions provides a simple solution for people who may be struggling to
find and qualify for affordable health insurance.
An estimated 45.7 million Americans do not have health insurance
coverage, according to the U.S. Census Bureau, and that number continues
to swell in the current economic climate. A survey prepared for the
Kaiser Commission on Medicaid and the Uninsured estimates that each 1
percent increase in the national unemployment rate will increase the
number of uninsured by 1 million.
“It seems pretty clear that the market needs an easy-to-understand,
guaranteed issue limited benefit plan for individuals and families,”
said Dave Keller, senior vice president of IHC Health Solutions, a
subsidiary of the IHC Group. “We have seen exceptional growth over the
past 12 months in our individual medical sales, and I see this as
another tool to continue that growth.”
People who have been denied individual major medical coverage due to
health or occupation may need a plan with lower premiums that also
offers day-to-day health care benefits and access to provider discounts.
Limited benefit medical plans are also appropriate for people covered by
major medical who face rising out-of-pocket costs and want to fill the
gap with first-dollar benefits. Defined Solutions offers three limited
benefit medical plan options, which cover a designated amount toward
office visits, wellness and diagnostic testing. All three plans offer
access to network discounts through the MultiPlan PPO network, which
boasts more than half a million health care providers under contract. An
estimated 40 million consumers use MultiPlan’s network providers.
All of the IHC Group companies are offering Defined Solutions.
Enrollment involves a convenient online application and premium payment.
No medical questions are asked, and no exams or records are required.
The process is simple and plans start as low as $99 per month.
Companion Life Insurance Company, a longtime partner of IHC, is the
underwriting carrier for Defined Solutions. While Companion is not a
member of the IHC Group, the two companies have collaborated on many
health insurance products for small groups, as well as individuals and
families.
About the IHC Group: The IHC Group is an insurance organization
composed of Independence Holding Company (NYSE: IHC) and its operating
subsidiaries, including Madison National Life Insurance Company, Inc.,
Standard Security Life Insurance Company of New York and Independence
American Insurance Company. The IHC Group has been providing life,
health and stop loss insurance solutions for over 25 years. For
information on Independence Holding Company and the IHC Group, see www.ihcgroup.com.
IHC Health Solutions
Dave Keller, 952-746-6614
dave.keller@thinkihc.com
