The Most Critical Insurance You Must Have is Health InsuranceAND BEFORE BUYING HEALTH INSURANCE, THERE ARE EIGHT KEY FACTS YOU MUST KNOW BEFORE YOU BUY. Many people find out how their policy works when they submit a claim. Sometimes it is rude awakening. Few people take the time to understand the fine print until it’s too late. As such, it is worth your time to understand the facts presented in this report. * Choose a health insurance plan based on the quality of the company and the plan first. Then adjust the rates by increasing your deductible or co-insurance amount to make it affordable. The 8 Facts Every Person In America Should Know Before Buying Any Health Care Coverage or Insurance Plan! Health Care is a hot topic in America. When you buy a health insurance policy, never make your decision based on price alone. This report will reveal to you some facts about health insurance that should be considered when making your buying decision. FACT #1 All Health Insurance Companies Are Not The Same! Before you purchase your next health insurance policy, you should know something about how insurance companies are rated. The A.M. Best Company is the oldest, most experienced rating agency in the world and has been reporting on the financial condition of insurance companies since 1899. Solution to the Problem FACT #2 All Health Insurance Companies Do Not Pay Claims The Same Way! There are two main methods by which claims may be considered for payment: 1. The insurance company decides how much they should pay.2. An independent third party in the industry decides. Commonly, the insurance company decides what they want to pay, using wording like: Only the company knows what the meaning actually is. Frequently it is not what the hospital, doctor or policyholder feel it should be, resulting in much confusion and misunderstanding. Solution to the Problem FACT #3 All Health Insurance Companies Do Not Cover Pre-Existing Conditions! When you are accepted by a health insurance company, you will normally have a waiting period before any pre-existing condition is covered. A waiting period of 12 months is typical for most plans in the industry. Some companies will give you credit for waiting periods satisfied on your previous policy. If you have a health condition that is unacceptable, a company may offer you a rate-up or an exclusionary rider in order to issue your policy. A rate-up means that your premium will be increased to include coverage for your condition (although the pre-existing condition limitation may still apply). An exclusionary rider means that a specific condition will not be covered. If you choose an exclusionary rider, make sure any major system of your body is not excluded. Solution to the Problem FACT #4 Some Health Insurance Companies Do Not Cover Any Doctor! Some plans limit you to the medical care chosen by the insurance company instead of giving you the option to go to the very best. Solution to the Problem FACT #5 Some Health Insurance Plans May Not Travel Well! Some plans will not cover you if you are outside of the United States. Even more restrictive, some plans limit your benefits if you use them outside a particular jurisdiction, such as a state or county. Solution to the Problem FACT #6 Some Health Insurance Companies Do Not Cover On The Job Injuries! Business owners, self-employed people and independent contractors are not always covered by worker’s compensation plans, and many health plans exclude on-the-job injuries. People who work several jobs or have businesses on the side are usually not covered by their primary employer’s insurance. Plans that exclude work related medical problems may: Solution to the Problem FACT #7 All Health Insurance Companies DO NOT Increase Rates The Same Way! Some companies may have a provision in their plans which allows them to single you out for rate increases independently of all the other policyholders. They may raise your rates because you have caused them to pay out a lot of money for claims. The purpose of a rate increase is to offset claims loss and inflationary increases. Since all insurance companies are subject to paying claims and economic variances, there will always be a need for periodic rate increases. However, when the need arises, you don’t want to be “singled out” due to your age or health status. Solution to the Problem FACT #8 According to the U.S. Census Bureau, over 50% of Personal Bankruptcies are Due to Major Illnesses and 75% had Insurance!!! You don’t want to end up with medical bankruptcy because you become ill, OR lose your dream or business because of it! How do you ensure you are protected? Solution to the Problem Rely on a licensed health insurance agent to guide you through the health insurance terminology and terms so that you'll make an informed decision. FOR A FREE QUOTE OR CONSULTATION CALL JOHN AT 630-254-7950 or |