warrenfinancialcenter.com Blog

Affordable Health Insurance In Michigan

Richard Warren — Sun, 13 Jan 2008 06:22:40 +0000

Yes Affordable Health Insurance in Michigan is available!!!

Health Insurance…do you have it? Health Insurance is one of those types of insurance that everyone needs, but many people go without. Nobody wants to pay for it. Employers don’t want to add the expense to their business and individuals don’t realize that they can find affordable individual health insurance in Michigan. Traditionally employers provided health insurance benefits for their employees. With the current trends of exorbitant premium increases many employers are reducing their benefits or simply not offering health insurance anymore.

People don’t have health insurance for many reasons:

1. Their employers don’t offer it.
2. Small business owners don’t have enough employees to qualify for a group.
3. Self employed people don’t think they can afford it.
4. People just don’t know where to look or they think that individual health insurance is not affordable.

Now I am here to give you an education on how to lower your health insurance premiums without giving up the benefits we use everyday.

First, when you are searching for health insurance, find an insurance broker. A broker is someone who represents many different insurance companies. They have the ability to search the prices of many companies they represent. A captive agent can only sell for one company…the company he/she works for. Another good tip is to find an insurance agent that is local. There are a lot of companies out there that sell health insurance over the phone. Having a local agent that you have seen in person can save you future headaches when it comes to servicing your policy. Your agent is the gatekeeper to the insurance companies. Use them. Any insurance broker that won’t help you after the sale shouldn’t be your agent.

There are ways to decrease your health insurance premiums by increasing your deductible, having a co-insurance. Now wait a minute, before you say “What is the point of having insurance if I can’t use it before I pay a high deductible?”

There are health insurance companies out there that offer really great plans with high deductibles and still offer first dollar coverage for the things we use the most. You can still get office visit co-pays, good prescription plans, yearly physicals, preventative care, and accident benefits. These types of benefits prevent you from having to satisfy your yearly deductible and saving that deductible expense for major healthcare expenses. For example, cancer, heart attacks, strokes.

(You can also increase your coverage by purchasing supplemental plans for these major health conditions. But that is another topic.)

Now the big question…Where can I find affordable health insurance in Michigan? Warren Financial offers great help to finding affordable health insurance nationally, not just in Michigan.

Click this link for more information about affordable health insurance and to begin your search.

Individual Health Insurance – The Basics

Richard Warren — Sun, 13 Jan 2008 05:28:54 +0000

When an individual or family does not have access to major medical insurance through their employer or government program, they may choose to purchase an individual health insurance policy.

How it works:

Health insurance is important to have because it ensures access to health care and minimizes the financial loss that can result from treating a serious illness or accident. Insurance companies enable policyholders to share the costs of possible economic loss by pooling the risk of health care costs across a large number of people. Insureds pay premiums based on the average cost of medical care for a group of people and receive medical benefits and financial protection when health care costs arise. Each state sets its own requirements for individual health policies and regulates how they can be marketed and sold.

Types of Individual Major Medical Health Plans:

Basic Benefit Plans: Provide essential benefits (i.e., inpatient hospitalization and outpatient surgery coverage) at an economical price. These plans may be appropriate for people who primarily want protection against the event of a serious accident or illness.

Comprehensive Plans: Provide the widest array of benefits and flexible plan options. They typically cover a variety of medical services, so they tend to have the highest prices. These plans are appropriate for people who want a more extensive range of benefits.

HSA-Qualified High Deductible Health Plans: Offer coverage coupled with the option to open a Health Savings Account (HSA). These plans are a good option for people looking for more control over how their health care dollars are spent.

Short-term Plans: Provide temporary coverage for those in-between jobs or waiting for group coverage to begin. They are best for those who need coverage for a definite period of time (i.e. 3 months) before beginning coverage under a permanent policy.

Choosing the right plan:

You have several factors to consider while selecting the right health plan for you and your family. Here are some practical questions to answer (with help from your agent) when choosing the right health insurance plan:

What insurance benefits do you anticipate using?

How much do you want (or can you afford) to spend on health insurance premiums each month?

How many times a year do you visit a family physician or specialist?

Do you want to utilize options such as preventive care and supplemental accident?

What is the most you can afford to pay out-of-pocket in the case of a serious accident or injury?

Do you need coverage for the long-term or short-term?

Applying for Coverage:

Warren Financial can help you determine your health coverage needs, match you with the appropriate health plan, and guide you through the application process. We strive to find an affordable health insurance plan to fit your needs and your budget. Affordable health insurance is an extremely important aspect to protecting our health and financial standing.

Eligibility: Applicants must meet age, health, residency, and occupation/avocation requirements to be eligible for coverage.

Underwriting: This is the insurance company’s process of determining whether or not they will accept an insurance application for coverage. Individual health applications are underwritten based upon various criteria applicable to all individuals applying for coverage. All decisions are made on an individual basis and take into account the applicants entire medical profile. To effectively underwrite each application, an insurance company must obtain complete medical information on the applicant(s) through the use of health questions on the application and, as necessary, a combination of telephone verification and/or medical records.

Click here to begin your search for affordable health insurance.

Health Insurance…Is Yours Up To Date??

Richard Warren — Mon, 07 Jan 2008 14:55:56 +0000

Are you paying too much for your health insurance? If you have had the same health insurance policy for a couple of years, the chances that you are paying too much are very likely. It’s a known fact that your health insurance premium is going to increase 5-10% every year. But when was the last time you had a health insurance review done? If your health insurance plan is 2 years old or older, then you could be paying way too much for your health insurance. Consumers who purchase their health insurance on an individual basis may not realize that they are paying too much for their health insurance.

Health insurance companies generally guarantee their rates for one year after you purchase a policy from them. It’s a sure bet that after that initial rate guarantee period is over that your health insurance premium is going to increase. It is generally good practice to complete a health insurance review every year before you renew your current policy. Health insurance plans change all the time. Health Insurance companies are adding new plans to their portfolio and taking olds off.

What does this mean for you?

If your current health insurance plan is no longer being marketed and sold by your insurance company, then your premium could be higher than what you could be paying if you were on a newer plan. Yearly Insurance reviews for your Health Insurance are a good idea. Talk to your insurance agent to find out if there are newer plans available that cost less money.

As an insurance broker I see this happening everyday. I have a client who was insured through Company A. Well during the year Company A decided not to market the plan that my client a part of. They were introducing a new plan that they intended to market instead of the old one. Well when my clients’ annual renewal came around, he received notice that his insurance premium was going to go up 25%. He immediately called me and we were able to get him a more comprehensive plan for less money than he was paying for the old plan.

Make sure you do a YEARLY Insurance Review. This will insure that you stay up to date with the health insurance market. Most health insurance plans have a 12 month initial rate guarantee. After that initial time period your rates are subject to increase or decrease depending on the age class that you are in. If you do not have an agent or don’t know where to find one, then you can use a great service that I recommend:

AffordableHealthInsurance4me.com

If you decide to apply for a different insurance plan, DO NOT CANCEL your existing coverage until the new plan is in place. Cancelling your existing coverage before the new coverage in place could be disasterous for you if you don’t qualify medically for the new plan. For example: If you cancel your current coverage and try to purchase new coverage and you aren’t accepted, then you will be up a creek without a paddle because you may not be able to get your old policy back. You would have to be re-underwritten to get your old plan back. So I repeat…DO NOT CANCEL your existing coverage until the new plan is in place.

Affordable Health Insurance 4 Me is an outstanding service for checking out comprehensive health insurance quotes. You can get competitors quotes within minutes giving you the ability to shop for your health insurance in one place.

Affordable Health Insurance Quotes Nationwide

Richard Warren — Fri, 04 Jan 2008 22:41:56 +0000

There are millions of people nationwide that are currently uninsured. Many individuals, families, small business owners and self employed people go without health insurance for many reasons. People don’t realize that their are many options with health insurance that can actually lower your monthly premium. It is important that you find the right insurance agent before you purchase your policy.

My recommendation is to always find an insurance broker versus a captive agent. A captive agent is an agent who can only sell for one company, which means that they can only offer you insurance plans from that one company. An insurance broker is an independent agent who represents many different insurance companies and has the ability to search those companies for the most competitive insurance rates. This saves the consumer time because they don’t have to deal with more than one agent.

Affordable health insurance is definitely possible when you start looking into the many options that you have. Right now you can get into plans that offer great preventative services to cover items such as yearly check-ups, immunizations, illnesses, and full physicals. The trend for most insurance plans is to pay for the preventative things to prevent having to pay large claims out for medical issues that could have been detected before they become serious. High Deductible Plans and Health Savings Accounts (HSAs) offer a great way to lower your health insurance monthly premium if you are able to pay for the routine medical expenses. i.e.: doctors office visits.

Getting Affordable Health Insurance Quotes is easy.

Just click the link below and fill out the Health Insurance Information sheet and you will receive a comprehensive list of insurance quotes available for you.

Start Your Search For Affordable Health Insurance By Clicking Here.