The old adage of “you get what you pay for” is very true when it comes to Health Insurance. Whether you are talking about Group Health Insurance or Individual Health Insurance, if the pricing is considerably lower than what you are used to, there is probably a good reason. I’m contacted weekly by people that ask my opinion about offers of insurance that are ridiculously low. The person, or business owner, is contacted by an “agent” that is offering coverage for a couple of hundred dollars a month per person, no matter what the age. Right there, red flags should be flying high and bells going off. If the agent is not quoting you a major insurance company, like Kaiser, Blue Cross, Blue Shield, Aetna, HealthNet, or Cigna, its most likely a scam. The companies I just mentioned are fully insured, health plans. Anything less is not worth purchasing
Health Insurance for your business should not be left to chance
One thing is clear….nothing is cheap anymore. The days of inexpensive Health Insurance, maybe with super high deductibles or without maternity coverage are long gone. Thank you ObamaCare and the ACA (Affordable Care Act). Just a few years ago, we were able to purchase a fully insured Health Insurance plan that maybe did not have all of the bells and whistles. Some of them even had pretty high deductibles. All of that went out the window with Obama and the NOT Affordable Care Act. Basically it mandates that insurance companies had to have certain coverages within each of their policies, no matter what the consumers wanted.
ObamaCare did away with Health Insurance that was affordable
Let’s say you’re a male, in his 40’s, wanting to purchase a Health Insurance policy. The policy NOW has to have maternity coverage, pediatric dental coverage (even though you don’t have any children), and limits the deductible amount. Oh and by the way, the difference in price between someone 18 and someone in their 60’s, cannot be more than a factor of 3. That means that the 60 year old’s price cannot be more than 3 times the price of the 18 year old. On the surface, it doesn’t sound that bad. But limiting the ability of insurance companies like this makes pricing increase…tremendously.