4 Tips for online Health Insurance Research
- Make sure you are buying insurance … not some discount card
- Don’t just look at premiums. Makes sure you figure in other “hidden” costs and fees
- Make sure you understand exactly what your annual out-of-pocket maximum will be
- Watch out for benefit limits or exclusions … if you just focus on price you might be in for some nasty surprises
5 Tips for picking a Health Insurance Advisor
- Ensure your agent has a valid license and clean disciplinary record with state regulators. If you need assistance with this, please email us here and we’ll assist you with this
- Make sure your agent has sufficient experience with health insurance. Health insurance can be very complicated and you want an agent that is capable of helping you maneuver this mine field.
- Ask your agent about how they are compensated. While you want your agent to be fairly compensated to ensure he or she does a good job for you … you specifically want to make sure they are not pushing certain policies due to higher compensation.
- You should expect your agent to customize a policy specific to your situation … including research as to whether you are eligible for coverage for which the agent would not be compensated.
- You need to feel comfortable that the agent will be there after you purchase the policy. You should be “buying” the relationship as much as the policy … this will come in extremely handy when you start filing claims.
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Want to know if you are working with a trustworthy agent?
You are if they ask you this one question
If the agent asks,
“Are you eligible for any government programs or a Cobra subsidy?”
You know you are working with an agent that is putting your needs first.
Neither of these would provide any compensation for the agent. So if they ask you this question, it shows that they are willing to help you get the policy that is best for you, without regard to their own paycheck.
Another must is their insistence on helping you fill out the application.
They should be willing to invest the time necessary to do it right … this makes it easier on you … but more importantly, will help prevent nasty surprises when you actually need the insurance.
3 things your Health Insurance Provider Doesn’t Want You to Know
- Ask questions about the fine print.
You need to read and ask questions about the fine print before you sign the application…not after. Some companies will want you to wait to read the fine print until after you sign up. Do not do this. Make sure you understand exactly what you are getting before you sign your name. - {if $location.city_state != ""}{$location.city_state}{else}{$owner->message_profile->location}{/if} requires that health insurance sold here covers certain things.
Every policy sold in {if $location.city_state != ""}{$location.city_state}{else}{$owner->message_profile->location}{/if} is required to cover certain procedures and certain items to be provided. You need to be aware of these requirements and make sure that the policy being offered to you is following them to the letter. - You can…and should appeal.
If your claim is ever denied, you have the right to appeal the decision. Health insurance companies obviously don’t advertise this because it will cost them more money. However, when you ask them about the appeal process, they must inform you on how to proceed. And as always, keep as many records and details as possible to back up your side of the story.
10 Ways to Save on Prescription Drugs
- If you own a health insurance policy or are shopping for one.
Check to see if it has lower co-pay for generic drugs. Many times it can save you over 60% on the cost of your co-pay. - Let your doctor know that you are concerned with the prescription costs.
Many times they can offer an alternative therapy or will know of programs that may help you cover the cost. - Ask whether the prescription is necessary.
This goes along with #2 and working closely with your doctor. Your doctor may be able to suggest an over-the-counter drug that will cost less but still address your need. Many doctors feel pressure to prescribe medicine but if you simply ask, “Is this really necessary? Or would some extra sleep, diet or other things I could do take care of it as well?” You may be surprised by the answer you get. - Ask your doctor for samples.
Many times your doctor may have samples of the prescription that he can give you to at least get you over the first prescription dosage. - Comparison shop.
It doesn’t matter whether you are shopping for generics or brand name prescriptions…make sure you shop around. Spend some time calling around and shopping on the web for the best prices (especially if it is a medicine that you will be taking for any period of time). Prices do vary widely and it makes sense to invest a little (or a lot) of time making sure you are getting the best deal. - Look for coupons or deals.
Go to the medicine’s main website to see if they are offering any discounts or rebates. - Use the tools at your leisure.
If you are lucky enough to have a health care flexible spending account, make sure you put money aside to pay for prescriptions through the year. By doing this, at least you’ll be getting your prescription income tax free! - Prescription discount cards.
Please check these out before you get them…with that said, there are some good choices for those people that do not have insurance. Some valid cards will actually get you discounts of 15% to 40% on brand name drugs. A good resource to start your research can be found here - If you are low income, seek additional help.
Please make sure your doctor knows of your needs and they should set you up with someone to help you tap into resources that are designed to help people with your needs. Another resource to give you more information can be found here - Go south of the border…or north.
It’s no secret that many prescription drugs can be found at a much smaller price tag in Mexico or Canada. There is a catch. It is against the law to “re-import” drugs that you can otherwise obtain in the US. That doesn’t stop the millions of Americans that cross over the borders to stock up on their needed prescriptions every single year. So if you proceed with this method, you do so at your own risk.
To avoid big problems when applying for health insurance … make sure you follow these tips
- Don’t let your current coverage lapse (if you are currently covered) until you are actually accepted.
I know, pretty basic, but you’d be surprised at how often people make this mistake and find themselves without coverage. - Know what’s in your medical history.
Insurance companies can ask for your medical history as far back as 10 years. Talk to your doctor about any health issues that may cause a red flag. Make sure everything has been documented that will assist in coverage approval by the insurance company. - Review your medical records.
You can request a copy of your medical records under the HIPAA act. Review those records and make sure they are accurate and up to date. It is better to deal with this before your application than trying to fix a mistake after you have been declined. - Get {if $location.city_state != ""}{$location.city_state}{else}{$owner->message_profile->location}{/if} requirements of health insurance coverage.
{if $location.city_state != ""}{$location.city_state}{else}{$owner->message_profile->location}{/if} has certain requirements of each policy issued in this state. If you are unsure what these are, please email me and I’ll be happy to forward them to you. - Check your “permanent record”.
The Medical Information Bureau (MIB) may have a file on you. This is information that is shared by major insurance companies. Check to see if you are on their data base and if you are..that the record is accurate. You can obtain your record for free by contacting MIB at 866-692-6901 or vist the site. - Consult a qualified independent health insurance agent.
A qualified agent will be able to assist you in understanding the sometimes confusing maze of fine print, benefits and help you get through the application process smoothly. - Keep a copy of your application.
Keep a copy of your application and of course review it completely before it is submitted. An ounce of prevention is worth a pound of cure. Make sure all the questions are answered 100% accurately to prevent big problems down the line. - Be Quiet!
If the company gives you a follow up call…Only answer the questions you are asked. Please be courteous, but don’t volunteer any additional information. These calls are usually recorded so don’t speak until you know exactly what it is that you want to say. - Don’t be smart.
If you don’t know the answer to a question … don’t guess. Simply say, “I’m not sure, you’ll have to contact my doctor or my medical records.” - Be honest.
You’d be surprised by how much the company already knows about your health history, so never try to mislead the company. If the company catches you in what they believe is an lie, they will most likely deny you. This can cause real problems as this interpretation of a lie (whether an honest mistake or not) can cause other companies to deny you coverage as well.