How much does it cost and how are premiums determined?

The Humana CI cash plan is rated based on the covered person’s age at the time of enrollment and tobacco use, if any.  If the person uses tobacco, the rates will be roughly double.  Likewise, a person who is younger at the time of enrollment will be much less expensive to cover.  For example, a 25 year old non-smoker would cost $2.75 a month for $5000 in coverage.  A 45 year old non-smoker, by comparison, would cost $9.70 per month.  Once a person is enrolled, the premiums and benefits are fixed until age 70.  At age 70, the premium stays the same, but the benefit is cut in half.

Why do I need this?  Can’t I just choose a lower insurance deductible?

You could opt instead for a health insurance plan with a lower deductible, however, there are several drawbacks to this. First of all, if you do have a critical illness, you’ll be out of pocket a hefty sum before the insurance coverage starts.  Second, health insurance policies tend to become proportionatly more expensive when you opt for a lower deductible.  For example, opting for a $1000 deductible vs. a $5000 deductible can often mean premiums that are $2000 higher each year.  For 95% of the public, that’s extra money spent for coverage that is rarely, if ever, going to be used.  Generally, it is much better to save that money, and spend some of it in the event of smaller, more incidental medical bills.

What else do I need?  How do I sign up?

The critical illness plan is one of two supplements we recommend to cover the cost of your deductible and out of pocket.  With the CI plan, your total out of pocket costs can be fully covered in almost all scenarios that are of major concern.

Call us Toll Free at 866-270-6209 or visit us online and we’ll be happy to discuss the details of these valuable plans.