I have already been a health insurance broker for more than a decade and every day I read more and more “horror” stories that are placed on the net regarding health insurance companies not paying claims, refusing to protect specific illnesses and physicians not getting reimbursed for medical services. Unfortunately, insurance companies are driven by revenue, not people (albeit they need individuals to make profits). If the insurance carrier can find a legal reason never to pay a state, odds are they will find it, and you the customer will suffer. However, what most people fail to realize is the reality there are incredibly few “loopholes” in an insurance insurance plan that give the company an unfair advantage over the consumer. In reality, insurance firms go to great lengths to detail the limitations with their coverage by giving the people 10-days (a 10-day free look period) to review their policy. Unfortunately, most people put their insurance cards in their pocket make their policy in a drawer or getting cabinet during their 10-day free look and it usually isn’t until they receive a “denial” page from the insurance company that they take their policy out to really read through it.
The majority of people, who buy their own health insurance, rely heavily on the insurance agent providing the policy to describe the plan’s coverage and benefits. This being the truth, many those who purchase their own health insurance plan will be able to tell you very little about their plan, other than, what they pay in premiums and how much they must pay to gratify their deductible.
Pertaining to many consumers, getting a health insurance policy on their own is definitely an enormous starting. Purchasing a medical insurance policy is not like buying a car, in that, the buyer sees that the engine and transmission are standard, and that electricity windows are optional. A health insurance plan is much more ambiguous, and it is often very difficult for the consumer to determine what type of coverage is standard and the other benefits are optional. I think, this is the primary reason that a lot of policy holders don’t realize that they just do not have coverage for a particular medical treatment until they receive a sizable bill from a health-related facility stating that “benefits were denied. ”
Sure, most of us complain about insurance companies, but we do know that they provide a “necessary evil. inches And, even though purchasing health insurance may be a frustrating, daunting and time consuming task, there are certain things that you can do as someone to make certain you are purchasing the sort of health insurance coverage you really need at a fair price.
Coping with small businesses business owners and the self-employed market, I have come to the realization that it is extremely difficult for folks to distinguish between the sort of health insurance coverage that they “want” and the benefits they really “need. ” Recently, I have read various comments on different Blogs advocating health plans offering 100% coverage (no deductible and no-coinsurance) and, although Certainly that those types of ideas have a great “curb appeal, ” I can tell you therefore that these plans are not for anyone. Do 100% health plans offer the plan holder greater comfort? Almost certainly. But is a totally health insurance plan something that most consumers really need? Not likely! In my professional opinion, upon purchasing a health insurance plan, you must achieve a balance between four important variables; wants, needs, risk and price. Just like you would do in the event that you where purchasing options for a fresh car, you have to weigh all these variables before you spend your money. If you are healthy, take no medications and rarely go to the doctor, you may not desire a 100% plan with a $5 co-payment for prescription drugs if it costs you $300 us dollars more per month?