Yup, our favorite “big box” store, Costco is now partnering with health insurance giant Aetna to bring you health insurance. The health insurance program is already available in Arizona, Connecticut, Georgia, Illinois, Michigan, Nevada, Pennsylvania, Texas and Virginia with plans to roll it out into other states.
But before you rush out to your local Costco to buy the health insurance you’ve been desperately waiting for, be aware that the new Costco-Aetna health insurance program is hardly the perfect answer to your health insurance prayers. The health insurance coverage is limited at best with deductibles ranging from $3,000 to $7,500 annually for individuals. For family coverage, the deductible amounts range from $6,000 to $15,000. Some of the plans only cover generic prescription drugs, and one is meant for people who also have a health savings account or HSA.
The Costco-Aetna health insurance program isn’t required to take you if you have a pre-existing condition either. It’s not like employer-based health insurance, and the Affordable Act requirement that health insurers take everyone regardless of pre-existing conditions doesn’t kick-in until 2014 (if it’s not struck down first).
Still any additional health insurance choices are welcome at this point!
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