When faced with the dilemma of purchasing their very own health insurance, consumers look for a baffling array 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 issue is the truth that health insurance is very complex, and consumers can quickly make very serious mistakes that find yourself costing them countless amounts of dollars – after it’s too late.
Naturally, with the growth of the web 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 that it’s not just a commodity easily compared or purchased online. You are not buying an airline ticket from Travelocity, or a guide from Amazon! Many online health insurance shoppers are duped into investing in a virtually worthless “discount” plan rather than real insurance. Other individuals are beneath the mistaken impression that buying online will lower their premium – not true!
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 making this kind of critical and expensive purchase, wouldn’t you want to have the entire universe of coverage available for you?
Secondly, it’s extremely difficult to obtain an accurate premium quote online best health insurance in colorado. Most online health insurance sites quote the “standard” rate. There is no way to tell 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. When you enter your demographic info, available policies pop up. Sometimes the insurance company will have paid your website for premium placement, much like Google or Yahoo. Many mistakenly think what this means is oahu is the “best” policy for them, and with the dizzying array of choices for coverage, it’s easy to observe they might get this potentially expensive mistake.
Last, and most certainly not least, may be the “service after the sale” aspect. In the event that you come across a trouble with a state payment for example, will the online health insurance website be there to do something as your advocate with the insurance company?
What’s the answer, you ask? The best and safest way to shop, 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 need the expertise. Try to find one that has at the least five years in the business, and works together with multiple insurance companies. The policy won’t set you back anymore than if you bought it online. A knowledgeable health insurance broker can help steer you from the pitfalls, in addition to answer your questions – including the ones you don’t think to ask.