Small Business Health Insurance – The Best Policy Is A Great Agent

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 submitted 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 income, not people (albeit they need visitors to make profits). If the insurance provider can find a legal reason to never pay a state, odds are they will find it, and you the customer will suffer. However, what most people fail to realize is the simple fact there are incredibly few “loopholes” in an insurance plan that give the company an unfair advantage over the consumer. In simple fact, 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” notice from the insurance company that they take their policy out to really read through it. http://www.vietnam-plans.com/liberty/

The majority of people, who buy their own health insurance, rely heavily on the insurance agent advertising the policy to make clear 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 should pay to gratify their deductible. 

To get many consumers, getting a health insurance policy on their own is usually an enormous executing. 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 that which benefits are optional. I think, this is the primary reason that a majority of policy holders don’t realize that they cannot have coverage for a certain medical treatment until they receive a huge bill from a health care facility stating that “benefits were denied. ”

Sure, many of us complain about insurance companies, but we do know that they provide a “necessary evil. inch 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.

Working with small businesses entrepreneurs 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 from general observations that these plans are not for everybody. Do 100% health plans offer the plan holder greater reassurance? Almost certainly. But is a fully health insurance plan something that most consumers really need? Most likely not! 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 brand new 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?

Is it worth $200 more a month to have a $250 deductible and a $20 brand name/$10 common Rx co-pay versus an 80/20 plan with a $2, 500 deductible that also offers a 20 dollars brand name/$10generic co-pay after you pay an annually $100 Rx deductible? More than likely the 80/20 plan still give you satisfactory coverage? On the web think it would be better to put that extra $200 ($2, 500 per year) in your bank account, just in case you may have to pay your $2, 500 deductible or buy a $12 Amoxicillin pharmaceutical? Isn’t it wiser to keep your hard-earned money rather than pay higher premiums to an insurance company?