When up against the dilemma of buying their very own health insurance, consumers locate a baffling variety of choices, terms, waiting periods, deductibles and exclusions. What’s the difference between coinsurance and a copay anyway?
With less employers than ever offering health insurance benefits, people retiring earlier, and the trend toward self-employment and entrepreneurship, there are more people buying individual and family health insurance plans (IFP) than ever before.
Compounding the problem is the fact health insurance is extremely complex, and consumers can certainly make very serious mistakes that wind up costing them tens of thousands of dollars – after it’s too late.
Naturally, with the growth of the net has come the growth of “online” health insurance marketplaces. Unlike term life insurance, auto or homeowner’s insurance, health insurance has so many moving parts it is not a commodity easily compared or purchased online. You’re not buying an airline ticket from Travelocity, or a guide from Amazon! Many online health insurance shoppers are duped into purchasing a virtually worthless “discount” plan rather than real insurance. Other customers are under the mistaken impression that buying online will lower their premium – not the case!
Listed here are the key problems in comparing and applying for health insurance from one of many online marketplaces.
First, not all of the sites have all of the plans available. When coming up with this type of critical and expensive purchase, wouldn’t you intend to have the entire universe of coverage available to you?
Secondly, it is nearly impossible to have a precise premium quote online best health insurance in colorado. Most online 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 the lots of considerations that go in the rate will effect your final price for coverage – you are flying blind!
Many online health insurance sites have “sponsored” or “featured” listings. Once you enter your demographic info, available policies pop up. Sometimes the insurance company will have paid the site for premium placement, much like Google or Yahoo. Many mistakenly think this implies it’s the “best” policy for them, and with the dizzying variety of options for coverage, it’s easy to see how they could get this potentially expensive mistake.
Last, and definitely not least, could be the “service following the sale” aspect. In the event that you come across a trouble with a state payment as an example, will the web health insurance website be there to do something as your advocate with the insurance company?
What’s the solution, you ask? The best and safest way to search, compare and apply for individual and family health insurance coverage is through a reputable, experienced independent health insurance broker. Agents that sell mainly auto and homeowner’s insurance may not have the expertise. Look for one that’s at least five years available, and works together with multiple insurance companies. The policy won’t set you back any more than if you got it online. A knowledgeable health insurance broker might help steer you far from the pitfalls, in addition to answer your questions – including the ones you do not want to ask.