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 Posted: Thu Dec 10, 2009 11:58 pm Post subject: health insurance |
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| (adding a thought or two..) I've been looking at different Health Insurance plans. GOSH...Health Insurance is really expensive!! With a few plans I've called about, I'm finding out you can't 'pick and choose' what you want. seems like you take what 'they' give or get nothing at all. |
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sdchargersfan
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| Posted: Fri Dec 11, 2009 12:45 pm Post subject: |
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Mostly all good advice in the posts above. No one has mentioned "HMO" or "PPO" by name, although they have alluded to them when they write about choosing a plan that allows you to go outside the network (PPO) or not (HMO).
I agree with OhioHealthInsurance that an agent with lots of experience will likely be a better resource, but don't know that "20 years" is an absolute necessity. Regardless of the number of years of experience, you need to have a good feeling about the agent recommending what's in your best interest, not his. So you must not fail to ask, "Why do you believe this plan is better than any of the others?"
The insurers I've chosen to represent are all well-known and offer plans that are among the very best available, but each client's needs are unique and I have to find the two or three plans among all I can offer with the mix of benefits I believe meet those needs most closely first. Cost is a secondary consideration. I have specifically chosen not to represent a few companies whose business/claims practices or quality of payments to physicians and hospitals I don't like, even if they are "bigger" companies that people know by name.
I have no idea who/what "Kiran" is with his text message shorthand, but I think most of the other posters here would agree that "normally 80%" (coinsurance) is a thing of the past, except perhaps for some large group policies and Medicare Part B. Today, 70/30 is considered "the norm", but many policies have specific limitations on some benefits as low as 50%, and only a handful of individual plans cover things like maternity. Knowing what is and is not covered (exclusions), and to what extent, is usually more important than price. But one cannot overlook out-of-pocket costs as unimportant.
And when doing comparisons between plans, almost all companies have a "matrix" that compares the differences between their own plans. If comparing Company A with Company B, you put the matrix from each company side by side to try and find apples-to-apples in term of benefits, not price.
Here in California, the Insurance Commissioner has just published what he believes to be the first of its kind report card on PPOs. Our Dept of Managed Health Care has been publishing a similar report card on HMOs for 7 or 8 years. They may not represent how the same companies fare in your state, but generally the way a company performs in one state is going to be similar to how it performs in most other states. Using the Dept of Insurance in your own state as an information tool is always good advice. Perhaps more so than BBB or Internet bulletin boards.
Finally, no one has mentioned the use of Health Savings Accounts (HSAs) with a "high deductible health plan." Depending on your specific situation (single-married-dependents-health status-etc), this may be a viable alternative, too. Especially if you're healthy and don't expect to be using your insurance much beyond the occasional wellness check up, or a random bout with the flu or other temporary illness. Your ability to fund the HSA to the maximum level each year is important. Without that ability, the principal benefit of the HSA is probably not going to work.
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California-licensed Property & Casualty Broker-Agent and Life & Health Agent. CA Insurance License #0596197. Send me your questions, and I'll send you my answers. I live, breathe, and teach insurance! |
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MaxHerr
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| Posted: Fri Dec 18, 2009 10:02 am Post subject: health |
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| Having all of those years of experience doesn't mean it's 'the best company' to go with. Just seems like the 'better co's' are the most expensive. I've been doing some research on a few.....hopefully I'll come up with one that I'm satisfied with. |
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sdchargersfan
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| Posted: Sun Jul 11, 2010 4:46 pm Post subject: |
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One simple tagline
Purchase health insurance from that company which has highest claim settlement ratio without giving much importance to the premium,because mostly premium amount is almost same for majority of the insurers.
Buy it from the person who is aware about the claim settlement procedure,basically an agent will be able to help you in this regard so avoid those policies which are sold by call center guys because they won't be able to give post claim services as effectively as an agent can give.
DIMG786 |
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DIMG786
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| Posted: Tue Aug 03, 2010 6:32 pm Post subject: |
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Well first of all you should ensure that the insurance company you are opting for is financially secured so that your investment remains safe in the longer term.
Then you should find out if it covers all those diseases especially the ones which you think you might inherit from your parents.
Always make sure that insurance covers the disability. |
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goodyphilips
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| Posted: Sat Nov 13, 2010 10:30 pm Post subject: |
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| It depends on what type of financial exposure you are comfortable with. I suggest- BCBS, United HealthCare, Humana, Cigna, Aetna, Trustmark, and a few others. But first I identify the risk of my clients, e.g. High Blood Pressure/ High Cholesterol/ Smoker etc.. certain conditions will drastically lower our available options, as far as Companies. Not only limits companies but also, the specific plans available- A low deductable co-pay plan will more than likely not be available for these risk. If you apply for the wrong plan and get declined, good luck switching gears. Definately get a Broker with experience in Health Insurance, not many Brokers want to sell Health Insurance, especially post Obama Care. sadlerins@gmail.com |
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sadlerins
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| Posted: Sun Nov 14, 2010 3:37 pm Post subject: |
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Most healthcare service plans now have a pre-underwriting application evaluation process to avoid the declines that can make things more difficult for insureds. But most of us who write health insurance applications have not stopped doing so. We just have little, if anything, good to say about Obamacare.
Fortunately, the Republicans have taken control of the House of Representatives, so half of what is necessary to repeal or alter the plan is in place. May have to wait two more years, to 2012, for them to take the Senate and put their own man/woman in the Oval Office to accomplish the task. That, still, is two years ahead of the 2014 deadline -- just enough time to get it done.
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California-licensed Property & Casualty Broker-Agent and Life & Health Agent. CA Insurance License #0596197. Send me your questions, and I'll send you my answers. I live, breathe, and teach insurance! |
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MaxHerr
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| Posted: Mon Nov 15, 2010 11:22 am Post subject: Compare before you go for it |
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We’ll look below at a couple of tips for comparing health insurance and life insurance costs
Make sure you are comparing similar premiums structures
health insurance plans usually offer two premium structures to choose from. The first premium type is usually called a “stepped” (or “rate for age” premium). This type of premium will increase every year with age. The rate of increase is small for younger people but as a person gets older it increases rapidly – and in the long term becomes extremely costly.
On the other hand a “level” premium will not increase with age. As the name suggests it remains the same every year. This type of life insurance premium will start out more expensive than a stepped premium, but in the long term will be much more cost effective.
So, if you are comparing life insurance or health insurance premiums, make sure any you are comparing are of a similar structure (and also think about which structure is going to be better for your situation).
Ask for a long term premium projection
This will help you with the “stepped” versus “level” choice mentioned above, however it is also important for another reason. Some life insurance companies will have a built in discount on their first year’s life insurance premium. This makes the premium look more affordable – but means that in the second year it might be more expensive than other insurers. So make sure you ask for a projection of likely costs – this will help you understand actual costs over the long term. |
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cisamitesh
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| Posted: Mon Nov 15, 2010 3:45 pm Post subject: |
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| Quote: | | health insurance plans usually offer two premium structures to choose from. |
Name one. Just ONE health care plan that is sold with a lifetime level premium. Or even ONE with a ten-year level premium. Or a five-year level premium. Or a three-year level premium. At best, some plans say they won't raise premiums in the 2nd year of a new individual policy, but they don't PROMISE it. Read the "fine print" that says moving into a new age band may result in a higher premium in the 2nd year.
You cannot compare life insurance and health insurance in the same breath, let alone the same post. Not only are they two different classes of insurance, offering coverage for very dissimilar risks, they are often not available from the same companies.
| Quote: | | Some life insurance companies will have a built in discount on their first year’s life insurance premium. |
This is only true when there is a later, higher premium to offset the "discount" in the first, or first few, years. These policies are called "modified" premium (one-time increase) or "graded" premium (series of increasing premium steps in the first 5-7 years). They are designed to entice a person who doesn't have the ability to pay the proper level premium from the first year. Most people, including agents, never stop to do the math to see how much this will cost over the life of the policy. And some never see the 500% higher premium until they get the notice at age 65 that their modified policy premium is now increasing -- and then make the wrong decision and cancel their insurance just before they croak . . . all because their $50 per month premium is now $250 to age 100 (or 121).
No one gets anything at a discount when it comes to life insurance, unless there is some other trade-off to something or someone else. If we insure someone as a preferred risk at a 30% "discount", you can bet that the underwriter will add a substandard risk at far more than a 30% increase to "balance" the risk pool. Policyowners don't get a "discount" for paying a single premium, a ten-pay premium, or an annual premium, everyone else pays more based on the number of premium payments they make over the life of the policy because they cost the insurance company more in administrative expense.
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California-licensed Property & Casualty Broker-Agent and Life & Health Agent. CA Insurance License #0596197. Send me your questions, and I'll send you my answers. I live, breathe, and teach insurance! |
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MaxHerr
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| Posted: Thu Dec 23, 2010 3:19 am Post subject: |
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| considering a life time insurance, i am thinking how many years would i pay? while im planning to get one . cause as of now my insurance plan is good for 10 years and after that i have to renew it again. |
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aprillove22
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| Posted: Thu Dec 23, 2010 5:32 am Post subject: |
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OK . . . so you have a term policy that you don't think you'll renew in 10 years.
| Quote: | | considering a life time insurance, i am thinking how many years would i pay? |
Here's the math: 121 minus your current age. That's how many years you might have to pay for a "lifetime" policy.
There are alternatives that would allow you to pay the lifetime cost in a shorter amount of time, but the shorter the time to pay the premiums, the higher the premiums will be.
Your term policy will permit you to convert to another policy of the same face amount, with the same insurance company, and without proof of insurability. That should be your first consideration. Unless your term policy is from Primerica Life, you will be able to convert it to a whole life or universal life policy, no questions asked, other than, "How did you want to pay your premiums?"
_________________
California-licensed Property & Casualty Broker-Agent and Life & Health Agent. CA Insurance License #0596197. Send me your questions, and I'll send you my answers. I live, breathe, and teach insurance! |
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MaxHerr
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goodyphilips
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| Posted: Wed Dec 29, 2010 10:20 am Post subject: health insurance |
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| for a good health insurance you need to pay a little more, so need to compromise in terms of health with money |
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himanshudpfoc
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| Posted: Tue Jan 04, 2011 7:26 am Post subject: |
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| you can find hundreds of promising health insurance but it varies with many factors... first is you get your top 10 perhaps... from there compare their strong points such as the total coverage of benefits, price and credibility. |
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lyfbond
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| Posted: Wed Jan 05, 2011 4:02 pm Post subject: |
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| health-quotes.i Health Insurance- my family have this health insurance. It is affordable and has good coverage for dental issues. |
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Shiddique
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