Tuesday, June 12, 2007

People Choosing The Wrong Health Insurance For Their Needs

By Tzvi Kessell

Too many people are wasting time on the internet trying to find health insurance plans that suite both their bank balance and they require benefits, and don't realize that they may be choosing more expensive plans that don't actually suit their needs.

According to Stuart Kessell from TZ Benefits, too many people shopping for insurance call their office to tell them they are very lost and confused about exactly how health insurance works.

"Some clients even believe it works the same way as car insurance, that is that they can save money on monthly premiums by finding a plan with a higher deductible. Health insurance is not as simple as car insurance you can compare one company to another compare the same' he said.

Over the years clients have asked us "what is the doctor's co-payment and what is the deductible". Whirl this is good question it does not help you find a health insurance plan that best suits your budget. In fact shopping by doctor's co-payment could cost you a lot more money each month!

"Regardless if you are single, self employed or a family, most health insurance plans will be general underwritten. So what does this mean? That health insurance companies only want healthy people. Healthy people are less likely to visit a doctor more than a couple times a year or make any health insurance claims."

'So if you are healthy, shopping for a $20 co-payment when you only visit a doctors at the most twice a year, it could cost you up to more than $100 a month than is necessary."

"If you are healthy you are better opting for a plan with a higher co-payment and slightly lower premium, as this will actually save you money in the long run."

Mr Kessell said "I always get the same question will I still have cover If I need a hospital visit on a more affordable health insurance plan? The answer is yes (Even more sore with a repudiate company and covered by that state insurance commission). One of the things that do drive the cost of health insurance premium will with low co-payments at the doctors by shopping smart you can try and find a plan that fits your budget."

"After shearing with our clients what to look for in a health insurance plan (as low co-payments are not the only part that can drive the cost of your monthly premiums up) they are able to find a plan that fits their budget and meets their needs. Even to the extent that they have the knowledge what to look for in a health insurance plan to stop them having to shopping around and choose a plan that meets their needs."

"To ensure you are on the best plan its often best to use a broker, like our company as we focus on providing a health insurance plan that suits their own needs, as you get same pricing regardless which broker and we don't charge clients for our service."

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