Athena Health: What It Is and What You Need to Know

Athena Health is a new public health insurance company that's designed to simplify healthcare and offer coverage across the country. Although there are different ways to think about how this will affect you, most people see this as a positive change. It’s no secret that today’s healthcare system can be confusing, especially for those who aren’t used to having so much choice or trying to understand insurance lingo. This guide explains what Athena Health is, how it works, and what it means for you if You Have Health Insurance or Not.

What is Athena Health?

Athena Health is a public health insurance company that offers Medicare-like coverage to the public. It’s designed to make healthcare more accessible and affordable for everyone. The company is being built by smart, experienced technologists and health care experts who have decades of experience in insurance. Athena Health is not a “Robo-advisor” or a “digital health” company. It’s a full-fledged health care company headquartered in New York City with operations in other states.

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How Does Athena Health Work?

Athena Health works a bit like a private insurance company. Policyholders pay monthly premiums to the company, and the company then uses those premiums to pay claims. When you need medical services, your provider will bill your insurance company. If you have a high-deductible plan, you’ll then have to pay the bill out of your own pocket. If your annual income is above a certain threshold, Athena Health will also cover a portion of your premium each year. If you don’t have health insurance and get sick, the out-of-pocket cost could be huge.

Will I Need to Sign Up for Coverage Through Athena Health?

No. Unlike many healthcare reforms, Athena Health is not a government-run plan. Instead, it’s intended as a way for private individuals to buy health insurance.

However, a growing number of employers have signed on as partners to help their workers enroll in Athena Health. Healthcare.gov, the official portal for enrolling in Obamacare, says that employers can sign their workers up for coverage through Athena Health.

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The Benefits of Being Part of Athena Health

• No Deductible - You can save money by not having to pay any deductible before your medical bills are covered by your insurance plan.
• No Copayments - You’re only responsible for a single payment when you visit the ER or get a doctor’s visit or any other medical service.
• No Out-of-Pocket Maximum - This is only available if you have an employer-sponsored health plan. The maximum amount you have to pay out of pocket is determined by your income and the fact that you don’t have health insurance.
• Complete Coverage - Athena offers full medical coverage.
• Protects Your Privacy - You can choose whether or not to share your health records with your doctor.

The Drawbacks of Being Part of Athena Health

• More Expensive Than Obamacare - You’ll be paying significantly higher premiums if you sign up for Athena.
• Some Insurance Plans Are Covered Under Athena- A few employers tend to offer Health plans, but most people in the insurance pool won’t get coverage through the company.
• It’s Complicated to Navigate - You’ll need to apply for insurance through Athena and navigate the new website.
• Limited Availability Outside of New York City - Once you sign up for insurance through Health, you’ll be able to go to one of the company’s four offices to pick up your cards and get help with any questions. There are currently no offices outside of New York City, though Athena says this will change in the future.

Other Things You Should Know Before You Decide to Join

• The Company Is Still in Its Early-Mining Stage - The company was just formed in January and some of the technology and processes are still being developed.
• It’s Not Immune to Future Changes in Health Law - The firm is not run by the government and is subject to future changes in law or regulations.
• It’s Still Too Early to Tell How It will Impact Coverage - The company is still in its early-mining stage, so it’s hard to say how it will affect insurance coverage and healthcare costs in the long term.

Final Words: Is Athena Health a Good Fit for You?

Health is a new kind of health insurance company that’s being built to help people access healthcare more easily and affordably. If you’re uninsured, it could mean you have access to coverage without having to pay a monthly premium and without having to deal with copayments or out-of-pocket costs. However, if you’re insured, it’s likely that you’ll have higher premiums, higher copayments, and no maximum out-of-pocket costs with Health. There are still significant questions about how Health will impact the healthcare system, so it’s important to do your research before signing up for coverage through the company.

Athena Health: What it is and what you need to know