For many people, seeking health insurance is a daunting prospect with a number of companies to choose from each offering a range of policies which can be both complex and difficult to decipher. For this reason it is often wise to employ the services of a broker to match your needs to the right health insurance company and policy.
Having chosen a broker it is a simple matter of giving him your medical details, including details of such things as any pre-existing conditions from which you are suffering and medications you are currently taking, and a list of the things that would wish to see covered in your policy. The broker then looks at a variety of companies and different policies and comes back to you with his recommendations. Once you have had a chance to study these, and to ask any questions that you might have, the broker will then work with you to get your health insurance contract signed and your policy issued.
It is important to understand that a health insurance broker works independently and is not employed by any particular health insurance company. His job is to study the health insurance market and to acquaint himself with the full range of cover available, as well as with how each insurance company operates including such things as its reputation, the frequency with which it increases premiums and the manner in which it handles claims.
Although the broker is independent it is also important to understand that he makes his money by way of a commission each time a contract is completed and that his commission will vary from one insurance company to the next. You may well feel therefore that it is in his interest to recommend a policy to you which earns him the highest commission. If this is something that concerns you then you should discuss this with the broker. If he is a sound and reputable broker he will have no difficulty in discussing this openly with you.
Despite the fact that the broker will be earning commission from the sale of your policy, which effectively comes from your premiums, it does not necessarily follow that a policy purchased through a broker will be more expensive and you will usually find that the same policy purchased directly from the company will cost you exactly the same amount as money as you will end up paying in buying through a broker.
In addition, a broker will often be able to find you a deal which you are unlikely to uncover on your own simply as a result of his knowledge of the marketplace.
Surprisingly, perhaps because the rules on health insurance are constantly changing, health insurance brokers are fairly thin on the ground. In addition, most states require health insurance brokers to be licensed and the licensing requirements vary from state to state.
If you feel confident about seeking out your own health insurance policy and are happy that you can understand the technicalities of a health insurance contract and the details of the small print then all well and good. But, if this is not the case, then a health insurance broker could turn out to be your best friend.
By: Donald Saunders
Posts Tagged ‘Pre Existing Conditions’
Health Insurance – The Role Of The Broker
April 30th, 2010Obtaining Health Insurance Quotes
April 29th, 2010
When you get health insurance quotes it is important to find the plan that is right for you. Some insurance companies are extremely expensive and barely cover anything at all. It is important to find affordable health insurance that really will cover you and your family if you need to seek medical attention.
One of the most important things is finding affordable health insurance. Be sure that you can afford the premium of the insurance or the monthly cost. You also need to be sure the co-pay you will have to pay for every doctor visit is acceptable also. You will have co-pays for doctor visits, emergency rooms, and urgent care visits. Also be sure prescriptions are covered at a good rate also. When you obtain health insurance quotes be sure the insurance really is affordable.
It is common for people to find what they think to be affordable health insurance and then not be covered when they become ill or are hospitalized. When you get health insurance quotes be sure that you really are covered in every way you can think of. If you have diabetes then make sure that this disease is covered. Some insurance plans will say that you have a pre-existing condition and have a policy that they do not cover pre-existing conditions. Be sure any conditions you might have or that run in the family are covered.
Another thing to think about when you get health insurance quotes is laboratory bills. Many insurance companies don’t cover lab work. Lab work may include blood tests, tests for strep, any type of test that needs to be sent to a lab. This can get expensive and is usually considered a separate bill in a hospital and at your doctor. Be sure that lab work is covered when you are quoting different policies.
There are many things to consider when you are looking for affordable health insurance. Sometimes the cheapest policy is cheap because it doesn’t cover anything. When you are searching consider all of the fees and everything that is or is not covered.
By: Jeff H McClendon