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Thread: Comparision is the best way to buy health insurance plans

  1. #1
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    Smile Comparision is the best way to buy health insurance plans

    Why people are not getting the health insurance plans according to their budget and need. One of the reason may be they are not comparing health insurance plans to buy the one that suits you best. what you say?



  2. #2
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    Let's face it, the process of buying health insurance is not straight forward. There is no central place - yet - like a site that compares different plans, a majority of health plans is through employers, so people either take what they are offered if they are employed, or have to get an individual health insurance plan.

  3. #3
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    I completely agree with your thoughts. When looking for health insurance coverage within your means, you need to not just look at the worth of your health insurance quote but also understand what type of health insurance coverage you are getting.

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    I am a health insurance broker. I would recommend finding a broker who can shop insurance carriers for you. Websites are going to quote you the best possible rates based on the carriers preferred plan designs and perfect health. A broker can choose a plan design to fit your needs. A good broker can also be up front with you and let you know if your personal health situation may mean higher premiums or may mean that you should choose a certain carrier.

    A website (or even an insurance carrier's own representative) is most likely not going to tell you that you should choose company "A" over company "B" because company "A" looks more favorably at a 55 year old with medication controlled diabetes for example.

    You could spend a lot of time and in some cases money in the form of advanced premium applying with a company that might deny you coverage, charge significantly higher premium or not cover your pre-existing condition.

    Also, you will not pay more in premium to have a broker shop plans for you. As long as the plans are identical, the premium will be the same. You just have to choose whether you want some website to keep the commission or whether you want that commission to go to a local agent who can shop impartially.

    Find a local broker!

    If you life in Tennessee or Florida, I can help.


    Andrew Peck

  5. #5

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    Quote Originally Posted by bazaar_policy View Post
    Why people are not getting the health insurance plans according to their budget and need. One of the reason may be they are not comparing health insurance plans to buy the one that suits you best. what you say?
    I agree with this. Comparing one health insurance carrier to another is the key in finding the perfect policy for you. This gives you a chance to find a cheaper policy without sacrificing the quality and quantity of your benefits.

  6. #6
    Senior Member Level 1 DavidBlock's Avatar
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    As Andrew Peckstated in his post, comparisons are not easy. Health insurance still has many"moving parts". By this, I mean there are co-pays with some and notwith others. There are deductibles to me met, coinsurance to deal with,non-covered items to consider, etc., etc., etc. Because of this and the amountan individual is willing to spend, it is too difficult to go to an aggregatorsite and say I choose carrier A, B, or C. It is not simply a price issue butwhat is covered and what is not. How much do I have to pay out-of-pocket(besides the premium) and what else is being offered.

    No matter what, Andrew's advice is right on the money ... good post Andrew!


    David M. Block, CLTC
    President
    Insurance Specialties, Inc.
    PO Box 1809
    Candler, NC 28715-1809
    800.358.8844 toll free
    828-667-1119 local
    828-667-2229 local fax
    www.insurance-specialties.com

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