Cost and Coverage, what do you pay for?
Its about math and cost. The basics of insurance.
When it comes to health insurance, not all plans are created equal. In today’s world, price/cost rules above all. But what are you paying for and what do you get in return?
Health insurance comes down to two simple things, cost and math. Yes, math. I am going to bring you back to middle school and memories of learning how to do simple math problems. When it comes to insurance, it is what do I have to pay monthly and what do I have to pay if something major happens.
When it comes to the private market, and more specifically, the plans that we deal with at KCE Health Advisors, cost is often a deciding factor. I am going to break down the costs in two separate categories, Health and Wellness and Accident.
When it comes to Health and Wellness, it is different from your typical plan. There are no co-pays, there is no cost up-front when you go to the doctor or clinic. Once you have services provide to you, the bill is sent directly to the insurance company. If there is a remainder, you will be billed the difference. These are UP-FRONT benefits, which do not go towards your deductible. In the long run, you will pay less for standard services, rather than trying to meet a deductible every year.
When is comes to any accident, ranging from a fall at the park or a major car accident on your way to work, private plans cover it all. Simply by being on the plan and having “accident protection,” you are going to pay a $250 dollar deductible and the insurance company is going to cover the rest. This is the benefit of the private market, coverage when you need it the most.
Many plans do not have this feature and you will be scrapping money to try to meet your deductible before the insurance will even kick it. Now you tell me what the point is in having insurance, if you have to pay thousands before you see a dime from the insurance company?
If you want to learn more about accident protector, reach out and we can explain it in more detail. Insurance is about cost and coverage, do you know what you are paying right now?
A New Age of Health Insurance
Health Insurance in the twenty first century.
Over the course of the last ten years, a lot has changed in the world of health insurance. With the introduction of the Affordable Care Act (also know as ACA or Obama care) the market has changed.
Years ago, you could cover your family of 5, with a $100 monthly premium and have a total out of pocket max of $1000. Gone are those days. Now, it seems like to provide your business or family with decent coverage, you might as well take out a second mortgage.
With the introduction of the private market plans, families are now able to pick and choose their health coverage options. Taking the best parts of auto-insurance, private market companies have allowed their clients to pay for what they want.
Many people are unaware that private market plans are available to them. They simply think that Obama care is their only options outside of employer plans. Allowing customers to chose options like accident protector, critical illness benefits, dental or vision, private market insurers have taken back what was once lost.
Families are now able to pay for what they want, have PPO coverage in all 50 states, and take the stress out of looking for health coverage. Offering health-based plans has allowed the market to shift and allow families to maintain peace of mind outside of employer-based plans.
Some might ask, what is the downside? Well, because the private market focuses on self-employed and small businesses, low risk families, and healthy individuals, their plans are underwritten. This means that not everyone can be approved. You cannot sign up on your own, you must speak to a licensed agent, and they cannot cover everyone.
If you are looking to find better coverage, simply want to see quotes, or are looking to cover your family, reach out today for a quote. There is no fee or costs to apply, and you can cancel at any time.
The time is now to protect your business, employees, and your family. We at KCE Health Advisors, focus on putting the client first. The private market may not be your best option, but we are here to guide you and put you in the best possible position.