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The Best Health Insurance for California Millennials
California millennials are entering their prime earning and acquisition years. Many millennials are choosing to explore business startups and self employment, as well as testing the job market.
In some cases millennials may not have access to health insurance coverage through an employer or their parents. This leaves the options of purchasing private health insurance, setting up a small employer benefit plan for your startup/business, or choosing to go without health insurance. Statistically about 25% of California's uninsured population is made up of millennials between 26-34.
When I look at health insurance for millennials, I look at three things: Quality, Affordability and Technology. New players are entering the market with health insurance products designed for the Millennial Generation.
For millennials choosing to purchase private health insurance either through Covered CA Marketplace or in the private market, I rank the top five below. The first four represent the best affordability and technology in order.
Oscar Health (EPO)
Kaiser Permanente (HMO)
Anthem Blue Cross (EPO)
Molina Health (HMO)
Blue Shield California (PPO)*
*Blue Shield (#5) is ranked because Blue Shield is the only insurance company offering state-wide PPO coverage with the national BlueCard (R) PPO network. While pricing on the high side and not particularly technology-driven, millennials with significant health conditions or who travel out of state frequently can benefit from their large open network. Also, there are more than a few counties in California where Blue Shield is the only available health plan.
For Millennials who have startup or ongoing businesses, so long as your company has at least 1 employee paid on W-2, small group employer plans are an opion. While these can be a bit pricey, tax deductibility for the employer and pre-tax premium for the employee can drastically reduce the true premium cost. For small employer groups I rank...
Anthem Blue Cross
Health Net California (for groups with cross-border employees)
For millennials looking for lowest cost options non-ObamaCare...
Petersen International Short Term Major Medical
Petersen International Accident Only Major Medical
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