When confronted with the dilemma of purchasing their own medical health insurance, consumers look for a baffling array of choices, terms, waiting periods, deductibles and exclusions. What is the difference between coinsurance and a copay anyway?
With less employers than ever offering medical health insurance benefits, people retiring earlier, and the trend toward self-employment and entrepreneurship, there are many people buying individual and family medical health insurance plans (IFP) than ever before.
Compounding the problem is the fact medical health insurance is very complex, and consumers can easily make very serious mistakes that end up costing them countless amounts of dollars – after it’s too late.
Naturally, with the growth of the web has come the growth of “online” medical health insurance marketplaces. Unlike term life insurance, auto or homeowner’s insurance, medical health insurance has so many moving parts that it is not just a commodity easily compared or purchased online. You are not buying an airline ticket from Travelocity, or a book from Amazon! Many online medical health insurance shoppers are duped into purchasing a virtually worthless “discount” plan in place of real insurance. Other customers are under the mistaken impression that buying online will lower their premium – incorrect!
Listed here are the key problems in comparing and applying for medical health insurance from among the online marketplaces.
First, not all the sites have all the plans available. When coming up with this type of critical and expensive purchase, wouldn’t you intend to have the whole universe of coverage available for you?
Secondly, it is extremely difficult to get an accurate premium quote online best health insurance in colorado. Most online medical health insurance sites quote the “standard” rate. There is no way to share with if the medication you’re taking, or your height and weight ratio or some of the a large number of considerations that go in the rate will effect your final price for coverage – you are flying blind!
Many online medical health insurance sites have “sponsored” or “featured” listings. After you enter your demographic info, available policies pop up. Often times the insurance company may have paid the website for premium placement, much like Google or Yahoo. Many mistakenly think this means oahu is the “best” policy for them, and with the dizzying array of alternatives for coverage, it’s not hard to observe they could get this to potentially expensive mistake.
Last, and definitely not least, is the “service after the sale” aspect. In the event that you come across a trouble with a state payment for instance, will the web medical health insurance website be there to behave as your advocate with the insurance company?
What is the solution, you ask? The most effective and safest way to look, compare and apply for individual and family medical health insurance coverage is through a reputable, experienced independent medical health insurance broker. Agents that sell mainly auto and homeowner’s insurance may not need the expertise. Look for one that has at the very least five years available, and works together with multiple insurance companies. The policy won’t run you any more than if you bought it online. A knowledgeable medical health insurance broker can help steer you from the pitfalls, along with answer your questions – including the people you do not think to ask.