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Land of Lincoln Pricing Scenarios

LLH-Pricing-Scenarios 1A little about Land of Lincoln Health

    EDITOR’S NOTE: Here is a breakdown of Land of Lincoln Health, a new health insurance companyLLH-Pricing-Scenarios 2 born from the Affordable Care Act — and the only nonprofit consumer-operated and oriented plan (COOP) in Illinois. Land of Lincoln’s goal is to enroll 40,000 customers by the end of 2014  That, from the estimated 1.8 million uninsured people in Illinois and others who may consider switching insurance companies.

  
    Land of Lincoln Health offers what it says are a variety of affordable insurance plans through the newLLH-Pricing-Scenarios 3 Illinois Health Insurance Marketplace. Because it is a non-profit organization, it reinvests extra revenue in improving services for members.
    
    The COOP says its purpose is to make health insurance easy to understand, easy to choose and easy to use.  
    
    Land of Lincoln Health offers 35 plans across the State of Illinois. Without federal subsidies, Land ofLLH-Pricing-Scenarios 4 Lincoln Health individual plan premiums range from $107 per month for a non-smoker under 21 in Rating Area 6 (western Illinois) to $1,113 per month for a 64-year-old smoker in Rating Area 2 (northeastern Illinois).
    
    Deductibles range from $500 to $6,250 per year, per person, without federal subsidies.
    
    Plan pricing will vary for each person and is influenced by four factors: age, location, tobacco use and household income. Many individuals will be eligible for federal subsidies that will lower the cost of their premiums, deductibles and co-pays.
    
    The COOP says that people shopping for health insurance should take into consideration what it says are the “three most important factors consumers”:
    
    •     Family health needs: Determine the health status of all family members and what level of care they will likely need during the year.
    
    •     Network: Some networks will include many physicians and hospitals and some will be narrow and include fewer. Land of Lincoln says it has a broad network to give consumers more freedom in choosing the providers they want to see.
    
    •     Total cost: Take into account not only a plan’s monthly premium, but all out of pocket costs, including a plan’s deductible.
    
    To learn more about Land of Lincoln Health, visit landoflincolnhealth.org. For a glossary of health insurance terms, visit http://www.landoflincolnhealth.org/health-insurance-basics/words-know/.

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