World Insurance

World Insurance offers an excellent Health Savings Account (HSA) plan.  An HSA is a savings accounts that is coupled with a World Insurance high-deductible health plan.  You can deposit tax-deductible money into the HSA and use it to pay health care expenses throughout the year that aren't covered by your World Insurance plan.

In many parts of the country, World Insurance is the only HAS qualified plan available that offers optional coverage for maternity services.  Since quotes for the maternity rider are not available online, you will need to call one of our expert advisors at 866-749-2039 for pricing.  When added, this benefit covers 100% of the cost of a routine delivery after you have paid a $2500 deductible.  This helps pay pregnancy-related expenses such as prenatal care, delivery, newborn hospital costs, and postpartum care after delivery.  Benefits will be payable for pregnancies beginning after a six month waiting period.

Before HSA legislation went into place, the majority of our business with World Insurance was their catastrophic Value Advantage plans.  Since HSAs went into effect, World's HD Advantage plan is often a very good option, particularly for those over age 55.

If you are looking for an inexpensive catastrophic plan, the World Insurance Value Advantage plan is a good option, but it is not HSA compatible.

World Insurance HD Advantage Brochure 

Lifetime Maximum for all plans - Choice of $2 million with option to increase to $5 million

Note:  Please run an instant quote for exact deductibles in your area.

1. Each calendar year, includes deductible.
2. See optional Comprehensive HSA Benefits below.
3. 50 Plan not available in Georgia.

This is a basic limited plan unless the optional Comprehensive HSA Benefit is selected.  Please note that expenses from non-PPO providers are subject to the usual and customary charge limitation described in the World Insurance brochure.  Generally speaking, the “usual and customary” charge is the amount World would expect most physicians to charge for a particular medical procedure, service or supply.  Each year refers to calendar year.

This information is presented only as a very brief overview of some of the benefits of this plan, and is intended only for general education.  The amount of benefits provided depends on the plan selected. Premium will vary with the type of benefits selected.  These plans contain exclusions from and limitations of coverage.  Please see the product brochure for more complete information, as well as information about terms of renew ability, preexisting conditions, out-of-network penalties, and notification requirements.  Plans are subject to health underwriting.  To be considered for reimbursement, expenses must qualify as covered expenses.  Expenses are also subject to reasonable and customary limits, unless you use a network, and all other policy provisions, including determinations of medical necessity.

Coverage Synopsis:

World Insurance HD Advantage

With this plan, the deductible only needs to be met once per family per year.  After you have met your deductible, the plan pays 100% of all covered expenses, up to either $2 or $5 million per person.  There is also an option for 50% of 80% coverage, with a co-insurance limit of $10,000.  Routine doctor visits and out patient prescription drugs are not covered by this plan, even after the deductible has been met, unless the Comprehensive HSA Benefit rider is included.

Foreign travel is also covered for 60 days, with a $100,000 lifetime limit.

This plan qualifies as HSA-eligible.  Combining a Health Savings Account with any the World High Deductible Health Plan allows you to make tax-deductible contributions, pay medical expenses with pre-tax dollars, and earn tax-deferred interest.  This account works much like an IRA, except you may use your tax-free savings for qualified medical expenses your health plan does not cover, such as your deductible, contact lenses, or most types of alternative medicine (see the qualified medical expenses).  If you do not use these funds, they simply accumulate, with interest, for distribution upon your retirement.

Optional Riders:

Comprehensive HSA Benefit

The HD Advantage program does not cover outpatient doctor visits or prescription drugs unless this optional rider is added.  This optional benefit cannot be added to your policy after you apply for coverage.  It provides the following additional benefits.

1. Rx Benefits - subject to deductible and coinsurance.  Prescription drugs or medicines for a covered illness or injury when prescribed by a physician and dispensed by a licensed pharmacist.
   
   
2. Physician Office Visit Benefits - subject to deductible and coinsurance for medical services provided by a physician.
   
   
3. Outpatient Services - subject to deductible and coinsurance.  Services include, but are not limited to, physical,
   occupational, speech and manipulative therapy, and diagnostic testing.
   
   
4. Wellness Benefits - a maximum of $150 first dollar coverage for wellness benefits per covered person, per calendar year.  Eligibility starts for each covered person 12 months after the plan is effective for that covered individual.

Maternity Benefit

When added, this benefit covers 100% of the cost of a routine delivery after you have paid a $2500 deductible. This helps pay pregnancy-related expenses such as prenatal care, delivery, newborn hospital costs, and postpartum care after delivery. Benefits will be payable for pregnancies beginning after a six month waiting period. The cost to add this optional coverage to any World Insurance policy is $212.26 per month.

Critical Illness Benefit

Cash benefits paid directly to you to spend as you wish if you are diagnosed with a critical illness. Benefits will be paid according to the schedule in your insurance contract, up to $25,000 per illness. Available to applicants age 19 and older.

Short Term Convalescent Care Benefit

Pays a daily cash benefit to help with expenses if you are confined in a nursing home or assisted living facility. There is a 20-day waiting period before benefits will be paid, and a 90-day lifetime maximum.

Accidental Death Benefit

Cash benefits paid in the event of a fatal accident. Available in incriminates starting at $2500 and going up to $100,000.

You must be covered by a World Insurance policy in order to add any of these benefits.

For quotes on any of the optional riders listed above, call one of our expert advisors at 866-749-2039.

Maximum Benefit Option

Your HD Advantage policy/certificate's lifetime coverage maximum is $2 million per covered person.  The Maximum Benefit Option increases the lifetime maximum to $5 million.  It also increases the per-organ transplant maximum from $500,000 to $1,000,000 at nationwide Centers of Excellence, facilities that specialize in specific types of transplants and can provide you with quality care on a cost efficient basis.

Term Life Benefit Option

The Term Life Benefit Rider provides you and/or your spouse with annually renewable term life insurance coverage in benefit amounts of $10,000, $25,000 or $50,000.  Plus, you also have the option of converting your term-life policy to a World whole life policy.  (Note: Not available in Georgia, Ohio and Oklahoma.)

Outpatient Accident Benefit Option

With the Outpatient Accident Benefit Rider, your plan pays 100 percent of expenses for a covered injury, not to exceed the amount you choose ($500, $1,000, $1,500, $2,000, $2,500, $3,000 or $5,000) per calendar year for treatment of injuries on an outpatient basis, with no deductible or coinsurance.  Additional benefits are subject to your deductible and coinsurance.  (Note: Not all levels are available in all states)

Expenses covered under this rider include:

Rates:

Preferred rates without riders are available on our instant quote page.  The quoted rates are for the $5 million maximum benefit, and do not include optional benefits such as term life, supplemental accident, maternity, and Rx riders.  They also do not include $7.50/month dues for membership in the National Consumer Alliance Association (NCA), which endorses these plans and gives members access to valuable products and services. 

If you are not replacing current coverage, you will be issued a policy with standard rates, approximately 8% higher than preferred rates.

Please contact us for rates on the optional benefits.  Rates depend on gender, smoking status, zip code, and health status.

The premium can be paid via quarterly, semi-annual, or annual billing, or a monthly bank draft or credit card.  The bank draft will occur on the premium due date each month. The initial premium can be paid with a check or credit card.

The following chart shows when you can expect payment to be deducted from your credit card:

App Effective Date Credit Card Charged 1st of the month 1st of month 2nd - 5th of month 5th of month 6th - 10th of month 10th of month 11th - 15th of month 15th of month 16th - 20th of month 20th of month 21th - 28th of month 25th of month

PPO Network:

World Insurance recently signed an agreement with Great-West Healthcare, a division of Great-West Life & Annuity Insurance Company.  Having access to the PPO network can mean substantial discounts in what you pay for your health care, even before you meet your deductible.  Great-West Healthcare operates a substantial multi-state (national) healthcare network that includes more than 4,200 hospitals and 530,000 providers.  It provides network and other services to more than 2 million people.  Find a Doctor

In addition to the Great West Health Network, a choice of networks are available in the following ZIP codes:

• AR zip 716: AMCO, PHCS
  
• FL zips 321, 326, 327, 328, 330-334, 344, and 347: Beechstreet, PHCS, Southcare
  
• GA zips 304, 310, 312-317, and 398: Southcare, Healthcare Preferred, Multiplan, Novanet, and PHCS
  
• IL zips 610, 611,613-616, 618, 619, 624-627, 628 and 629: FirstHealth, HealthLink, PHCS
  
• MO zip 658: Beechstreet, HealthLink, Healthcare Preferred, PHCS, an Southcare
  
• PA zips 155, 157, 159, 161,162, 173, 174, 180, 181, 185-187, 195, and 196: FirstHealth, HealthLink, and PHCS
  
• TN zips 377-379: Multiplan, PHCS, TN Healthcare
  
• TX zips 760-762, 764, 769, 788, 790-792, 797-799, 885: HealthSmart, PHCS
  
• VA zips 228, 229, 245: Alliance, PHCS, OneNet

Underwriting:

Underwriting of your application with World Insurance normally takes two to four weeks, though if medical records are ordered it could take longer.  World's underwriting seems fairly lenient compared to many other companies, and often accept applicants who may have been turned down by other companies.

It is standard practice for them to request a Blood Pressure Inquiry if you are currently being treated for or have recently discontinued treatment for high blood pressure.  Certain conditions may be waivered with a temporary rider (usually for one to twos years), or an indefinite rider.

Effective dates:

The earliest your coverage can go into effect is ten days after you have signed your application.  You may request an effective date any time between 10 and 60 days after you sign your application.

Please note, if you are requesting an effective date of less than 21 days from the time you complete the application, you may not receive notification of your approval until after your effective date. If you have claims during this period, they will be eligible for coverage if submitted after you have been approved.

Also note that you will be billed starting on your requested effective date, even if you have not yet been notified that you have been approved.  This is very good for someone who does not have any present coverage and would like for their benefits to begin right away.  For those who are already covered, it is suggested that you maintain your current coverage in force until you have received notice from either HSA for America or directly from World Insurance that your coverage has been approved and is in force.

HSA Administrator:

Your health savings account is totally separate from your health insurance, and you may use any approved bank or trustee as your HSA administrator.  We recommend that you choose one from our HSA administrator page, where you can compare rates and features. 

About World Insurance:

World Insurance was founded in 1903 in Omaha, Nebraska, as the World Accident Association.  The company began hiring agents in 1925 and became World Insurance Company in 1929.  The first general agency was established in Colorado in 1938.  In 1943, World mutualized and was authorized to sell life insurance as well as accident and sickness policies.

By the late 1950s, World was licensed in 45 states with 500 agents nationwide.  The company's product portfolio included a wide variety of individual hospital, life and disability policies.

Today, World is licensed in 46 states and the District of Columbia.  More than 11,200 general agents and agents represent the company.

World Insurance has been assigned a rating of A- (Excellent) from the A.M. Best Company, an independent insurance rating organization.

HSA for America is an independent authorized World agent.

"The service and support have been top notch"

I chose your company because your web site was very informative and answered all my questions about the benefits of an HSA plan / account.  The service and support I received from your company (Fred) has been top notch.  Very fast responses to emails.  Your web based business model and great follow-up set you apart in my mind.  Keep up the good work.

Greg Kreitner
Attorney
Muscatine, IA

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