Will using Gizmo Health Insurance Services cost you anything?

All services offered by Gizmo Health are provided at no additional cost to you. If you buy a health insurance plan through Gizmo Health, you will only pay the regular monthly premium to the health insurance carrier. There are no application fees*, hidden commissions or additional charges for using our service. *some health insurance carriers require an application fee when applying to short term insurance. 


Do you have to pay the first month's health insurance premium when applying?

Some health insurance carriers require an initial month’s premium when you apply for coverage. If you are approved, the policy will start as of your effective date and the initial payment will be applied towards the first month’s premium. If you are denied coverage, or do not chose to elect coverage the health insurance carrier will issue you a full refund of the initial premium paid. When approved most health insurance companies allow a 30 "free look" period during which you can cancel coverage at no expense.  


Why is individual insurance often cheaper than group insurance through your employer?

The biggest difference between group and individual health insurance coverage is the insurance carrier’s right/ability to deny, rate up, or exclude any medical treatment, medication, condition they deem necessary based on the individual applicant’s medical history.


Individual health insurance products often cost significantly less than your group insurance because of the structure of the coverage. Participants in group health insurance coverage are paying for maternity coverage and prescription drug benefits, while individual health insurance participants can exclude or add coverage to fit their specified needs


How does age, gender and tobacco use affect the price of your health insurance?

An applicant’s age and zip code directly impacts the cost of their health insurance. The older you get, the higher the cost of the health insurance. Gender has less of an impact on the price of the health insurance coverage, unless electing maternity coverage. Electing maternity coverage is can add 20% to 40% to the cost of the plan. Finally, tobacco use may increase the overall cost of the policy with some carriers because of the health risks associated with smoking. 


Does every health insurance plan include maternity coverage?

No, maternity is not included on every individual health insurance plan. Each plan that has maternity coverage benefits clearly displays "maternity coverage" on our website, www.gizmohealth.com. Gizmo Health gives you the ability to sort based on maternity coverage (left column on the third page). The terms, conditions, and pricing on maternity coverage vary from carrier to carrier. Please carefully read the details of the policy or call a Gizmo health representative for clarification. 


Can children over 18 be insured on a family insurance policy?

Insurance carriers will typically insure children of the policyholder through the age of 26, if they are enrolled as full-time students. Otherwise, they are required to obtain their own health insurance when they reach the age of 18. 


How does the prescription drug benefit work?

The prescription drug benefit for individual and family plans varies greatly. Some plans limit the percentage contributed towards the prescription drug. Other plans have a preset deductible amount that must be satisfied before the health insurance carriers will contribute to the cost of brand and non-brand name drugs.  


How do you know if you are getting the best rate on your policy?

Health insurance prices are filed and regulated by the department of insurance in each state. You will not find the same health insurance policy (quoted) on our website at a lower rate anywhere else. The biggest benefit of using Gizmo Health is our years of experience and our dedication to excellent customer service. The prices are fixed. 


How long does it take to apply?

Applying online is the fastest method of obtaining health insurance. Some carriers can take up to one month to make an underwriting decision. Gizmo Health works closely with each insurance carrier to ensure quick processing on all of our customer’s applications. Another quick method of applying for health insurance is by phone. Please call 312-884-5150 and ask to complete a phone application. 


How soon can your insurance take effect?

Some health insurance carriers only offer effective dates on the first or fifteenth of each month. Other health insurance carriers will start coverage on your requested effective date or the same day the application is submitted. If applying online and your requested effective date cannot be obtained, the health insurance carrier will notify you of the earliest effective date available. If your policy is already in force, you can request an effective date change by calling 1-312-884-5150. 


What is COBRA?

Cobra stands for Consolidated Omnibus Budget Reconciliation Act of 1985. COBRA is a federal legislation that requires employers with more than 20 employees to allow employees who were involuntary terminated from the company a chance to continue their health insurance coverage through the company’s policy for up to 18 months or 29 months if deemed disabled by the Social Security authorities. The employees are required to reimburse the employer for the cost of the health insurance premium plus up to a 2% administrative fee. New regulations put in place by the American Recovery & Reinvestment Act (ARRA) will help subsidize 65% of the employee’s COBRA premium cost up to 9 months for qualified applicants. 

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