When up against the dilemma of shopping for their particular medical health insurance, consumers look for a baffling variety 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 more people buying individual and family medical health insurance plans (IFP) than ever before.
Compounding the issue 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 internet 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 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 investing in a virtually worthless “discount” plan as opposed to real insurance. Other consumers are beneath the mistaken impression that buying online will lower their premium – not the case!
Listed below are the main problems in comparing and applying for medical health insurance from among the online marketplaces.
First, not most of the sites have most of the plans available. When creating this type of critical and expensive purchase, wouldn’t you intend to have the whole universe of coverage available to you?
Secondly, it’s extremely difficult to obtain an accurate premium quote online best health insurance in colorado. Most online medical health insurance sites quote the “standard” rate. There’s 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 into the rate will effect your final price for coverage – you’re flying blind!
Many online medical health insurance sites have “sponsored” or “featured” listings. When you enter your demographic info, available policies pop up. Often times the insurance company will have paid your website for premium placement, just like Google or Yahoo. Many mistakenly think this means it’s the “best” policy for them, and with the dizzying variety of alternatives for coverage, it’s easy to observe they might get this potentially expensive mistake.
Last, and most certainly not least, could be the “service after the sale” aspect. In the event that you encounter a problem 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 clear answer, you ask? The most effective and safest way to shop, compare and apply for individual and family medical health insurance coverage is by way of a reputable, experienced independent medical health insurance broker. Agents that sell mainly auto and homeowner’s insurance may not have the expertise. Try to find one that has at the least five years in the commercial, and works together with multiple insurance companies. The policy won’t cost you any more than if you purchased it online. A knowledgeable medical health insurance broker can help steer you away from the pitfalls, along with answer your questions – including the people that you do not think to ask.