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Category: Health Insurance

Health Insurance During the Corona Virus

Category: Health Insurance

Short-Term Health Insurance or Regular Coverage – How to Choose

Short-term health insurance policies are becoming very  popular. More people are buying these policies to get immediate coverage. But is short-term health insurance or regular coverage the right choice for you? Does it make sense to go without coverage?

Find out more about the differences between these two health insurance policies by reading below. Learn who chooses short-term coverage and why. Every situation is a little different, but we can help you make the best decision.

Short-Term Health Insurance is a Bridge

Short-term health insurance is not a regular traditional policy. Usually, short-term policies offer maximum payouts and require medical underwriting. The term of most policies is three months, although they can be shorter or longer.

Some companies offer extended short-term coverage. Newer plans allow the insured to buy up to four 3 month term at once. This eliminates needing to prove insurability after one or more terms has expired. But this type of policy is not regular health coverage; plans will have annual maximums and they may not cover preexisting conditions. You should not expect these plans to cover a pregnancy or high cost prescriptions that you are already taking.

In most cases, short-term health insurance is a bridge that provides essential coverage until a person qualifies for regular health insurance. Many consumers, however, are opting for short term plans over ACA coverage simply due to cost. These plans can be tailored to meet most budgets and they’ll provide coverage for unexpected accident, injuries and illnesses.

Immediate Coverage

When a person needs immediate coverage, a short-term policy is a viable choice. Policies can be purchased today and in effect tomorrow. You can select the exact amount of days you would like to have coverage. And if your traditional coverage begins sooner than thought, you can cancel your short term plan an receive a refund for any unused days

Most short-term policies cover emergency hospital visits and basic medical costs. Others will offer office copays and prescription drug coverage. You can also add dental & vision coverage as well as cash reimbursement riders that will cover the deductible you select. Always review the terms of the policy with your insurance agent and ask questions about the extent of coverage.

Reduced Costs

One of the reasons people select short-term health insurance is reduced premiums. With less coverage and a choice of deductibles, the monthly premiums are very affordable. People who lost their job – or students waiting for other coverage to kick in – benefit from short-term health insurance coverage.

COBRA coverage is costly if you find yourself unemployed. But you may feel better with some amount of health insurance. The budget-conscious cost of short-term coverage offers an affordable cushion while looking for employment. And if you find a job, short-term coverage is in effect until your employer offers regular health insurance. Sometimes employers have a waiting period of one to three months.

When Short-Term Insurance Is Not an Option

Unlike regular health insurance coverage, short-term insurance does not have to observe the Affordable Care Act (ACA) requirements. These policies do not have to cover the ten health benefits ACA health plans must cover. Basically, short-term plans are meant to cover unexpected injuries and sudden illnesses. Pre-existing conditions may not be covered. For this reason, the premiums are less expensive than regular health insurance. But if a patient has a pre-existing coverage, this plan may not be practical.

Fill in the Gap

A person who has a job and needs to wait for coverage would benefit from a short-term health insurance plan. Or a student no longer covered under his or her parents’ policy fills in the gap with short-term coverage. Those who are in good health and just a few months away from Medicare eligibility enjoy the peace of mind these plans provide.

But it is not meant to be a permanent solution. In other words, there are few substitutes for regular health insurance. However, short-term plans prevent people from the financial stress of medical bills if they have an emergency before regular insurance starts.

What If I Need Regular Health Insurance?

People with specific health conditions might need regular health insurance coverage. Always consult with a reputable insurance agent to find out your options. For example, a pregnant woman cannot get coverage through a short-term policy. But the state may offer options under the ACA.

And there are a wide variety of regular health insurance coverage options to suit your needs and budget. Let a knowledgeable agent do the shopping for you to get the best possible coverage under the circumstances.

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Category: Health Insurance

Benefits of Short-Term Health Insurance Plans for Students

With the rise of medical costs, getting sick can be a huge expense. And the problem is if you are unemployed and are currently in school, you have no employer who will shoulder the cost of a medical insurance policy.

As a student, you are not immune to the same accidents, illnesses and injuries that professionals are exposed to everyday. And this creates a huge need for health insurance coverage. Most likely, you already have student loans. Getting sick only means you have to pay for medical bills. And these bills will take away the money that you should have spent on your education. Think about the benefits of short term health insurance plans for students.

Short-Term Health Insurance is Affordable

Short term health insurance is a straightforward deal. You are covered for a short period of time and you pay a premium. The first thing you do is to pick the amount of benefit you want to receive should you get sick. Most policies have a calendar year maximum – or maximum per cause.  You choose which type you prefer. If you are needing coverage for several months, then a lifetime maximum of 1-2 million might be a good idea.

Many short term health insurance policies can cost less than you might think for the entire policy’s tenure. Polices with higher deductibles can be under $100 a month! These same plans can also provide prescription drug coverage and doctor’s office copays without the insured reaching the deductible. It’s nice to have these first dollar benefits available right away.

It Is Immediately Effective

A lot of companies offer short term health insurance policies that take effect as soon as the payment is made. Apply today and your coverage is effective tomorrow.

Unlike Obamacare coverage, short term health plans do require medical underwriting. There are usually only a few questions to answer, but not everyone is approved. Other policies might offer coverage while excluding preexisting conditions. If you only need coverage for a few months, these Guaranteed Issue plans can provide peace of mind.

Additionally, many plans offer riders like dental and vision coverage.  Still others will provide cash reimbursements for an accident, illness or injury. It’s nice to know your plan will can pay you several thousand dollars up-front with an critical illness rider. These riders do cost extra, but can be worth it if run into something unexpected.

It Has Wide Coverage

Many hospitals and doctors accept short term plan insurance. This is even covered in cancer centers. As millennials continue to buy short term health insurance policies over long term ones, more and more facilities will cover those who purchased this type of insurance. Although maternity is not part of the deal, below are some important medical service that you can get if you purchase a policy.

Lab tests – this is costly. Most doctors require a lab test to be able to pinpoint and diagnose the disease properly. With short term insurance, you do not have to pay the costs of these tests.

Doctor visits and specialist visits – if you are indisposed and cannot get out of bed, doctors can come and visit you and the health insurance company will pay for that specialist’s service.

X-Rays – like lab tests, x-rays are costly. This should be covered in your health insurance plan.

These plan can cover you all over the United States using networks from Aetna, United Healthcare, Medical Mutual of Ohio, Cigna and others. If you travel a lot, then we can help you find the broadest network to meet your needs.

It Bridges the Gaps

Short term health insurance for students bridges temporary gaps in long-term insurance. Once you turn into an adult (age 26 in most states), your parents’ insurance provider will no longer recognize you as a dependent. You need to buy your own. But as a student without work, long term health insurance is costly. Besides, long term health insurance is typically shouldered by an employer.

A short term health insurance will bridge this gap. And this is most especially important if you are close to graduating. While finishing your degree, you can expect to get full coverage until such time that you find an employer, provided that you pay your premium on a regular basis. This is also a great alternative if you missed out enrolling for long term health insurance. You wait out for the next enrollment of the Affordable Care Act, knowing that you have temporary health insurance coverage.

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Category: Health Insurance

Five Facts to Know Before Buying Short Term Insurance Coverage

Short-term health insurance is a kind of medical insurance with coverage that is applicable for a specified period only. Also, it covers fewer illnesses compared to what long-term insurance policies do. However, it has a much lesser monthly premium cost compared to ACA (Obamacare) or any employer-based insurance plans. Short-term health insurance is a kind of coverage that many millennials prefer over long-term insurance plans. But what exactly are the things that you should know before buying short-term insurance coverage?

It is Not for Everybody

Short-term health insurance plans are ideal for specific people, but not everyone. The reason it is less costly is that you are covered for a brief period only, and the illnesses and conditions covered in your plan are also limited. Is this good or bad? Well, it depends on your condition. Short-term insurance is ideal for individuals who are getting off their long-term plans temporarily. Examples are:

• Children turning into adults and thus will be taken off as their parents’ dependents
• Individuals switching jobs
• Those who missed the open enrollment season for their long-term insurance
• Individuals who are in college or those in the process of looking for a permanent position
• Dependents who lost long-term insurance overage after a divorce

It Significantly Varies from Affordable Care Act (ACA)

Short term insurance has significant differences from Obamacare insurance policies in that it has lesser coverage than ACA. However, this can work to your advantage because short-term insurance is flexible. For example, short-term insurance does not cover pregnancy. ACA, however, charges you money for pregnancy coverage, even if you are a male.

Preventive care is also limited to short-term insurance, and not all companies offer it, as opposed to ACA, where preventive care is one of the ten requirements. Also, not all short-term insurance companies cover the cost of RX drugs (prescription) while these are mandatory in ACA plans.

You Only Pay It for When You Need It

This is why short-term insurance is also called travel insurance. You typically pay for insurance that covers a specific period. After this, the coverage is gone. Short term insurance plans are very affordable and are usually paid on a monthly basis. The average cost is about $30 per month. If you want to save more, you can choose from a wide array of offerings such as reducing the plan’s benefits, choosing a higher deductible, or paying your total premium up front to get a significant discount.

It Has Copay and Coinsurance Options

Both of these apply to short term and long term insurance plans. A copay, simply put, means that you and the insurance company share the amount of the services you availed. The split between you and your short-term insurance company will vary per plan. Let us say that you paid your doctor a visit, and the cost is $100, you may need to shell out $35, and the insurance company will pay for the rest.

In coinsurance, you pay a certain percentage of the medical expenses after you have met your deductibles. If your coinsurance is 30%, this means that you will pay $30 for every $100 of the total medical bill (after the deductible is met) and the rest will be shouldered by the insurance company.

You Cannot Always be Approved to Enroll

Many short-term health insurance companies will deny the application of individuals who have pre-existing conditions. This is not so bad considering that these companies are taking a considerable risk in insuring somebody who has an existing health condition. Remember, insurance is a business. Companies take the risk of paying a significant chunk of your medical expenses in exchange for a fraction of that amount, which is pretty much your premium.

If you need interim insurance coverage, we can help you find the right policy for your unique needs. Contact us to learn more about short-term insurance and other possible alternatives.

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Category: Health Insurance

Top Reasons to Get Short-Term Insurance Plan Over Nothing

With the rising costs of insurance premiums, you may be tempted to believe that you can skate for a while without medical insurance. Perhaps you are between policies or between jobs. Why not take a breather from an insurance payment? Just a month or a year saves you dollars.

After all, the premiums for both short-term insurance and its long-term counterpart run high. But, do the savings of not paying premiums outweigh the risk of not holding insurance? You may find that a short-term insurance plan proves better than no coverage at all. Let’s consider the reasons why.

TOP REASONS FOR SHORT-TERM INSURANCE OVER NOTHING

Unexpected Medical Expenses Defrayed

Likely, the primary question weighing on your mind is “what if something happens?” The risk of injury and illness proves valid. The resulting medical costs threaten to bury families, even with insurance. In 2014, 40 percent of Americans struggled with medical debt.

In fact, medical debt ranks as the number one cause of bankruptcy. This honor visits the insured and the uninsured. However, the debt load decreases for those with insurance, even those with a short-term policy.

While short-term insurance does not cover pre-existing conditions, it helps defray the costs of unexpected illness and injury. Even the caps on such services fail to negate the fact that a percentage of the bill gets paid — at least something gets covered.

While in between insurance policies, you may experience:

— Work Injuries

Frontline reports that on-the-job injuries are common. In fact, workplace injury rates are higher than being at home. Ill or injured workers (and their families) assume 44 percent of their medical costs from such injuries. Workers Compensation and insurance cover only part of the bill. Plus, this figure does not account for lost wages. The average time off work for falls on the job adds up to 38 days.

— Auto Accident Injuries

Auto accidents send over two million Americans to the hospital yearly, as reported by the Centers for Disease Control and Prevention (CDC). Falls account for greater than 800,000 hospitalizations each year, by CDC figures. Emergency rooms cost anywhere from $150 to $3,000 or more per visit. Insurance cuts these costs by 10 to 50 percent of the total. Without the help of insurance, this bill often haunts the injured long after the accident.

— Food Poisoning and the Flu

Over 400,000 people land in the hospital due to food poisoning. The flu results in 31.4 million outpatient visits and 200,000 hospitalizations, according to the CDC. Treatment costs vary depending on the need for or length of a hospital stay. However, the average cost per case rings in at more than $14,000.

— Heart Attacks and Strokes

The out-of-pocket cost of a heart attack can top over $9,000. With a recovery of two weeks to three months, decreased income adds to the expense. Strokes occur every 40 seconds and cost about the same out of pocket. If these issues do not arise from a pre-existing condition, a short-term insurance policy may work to your benefit.

Avoidance of Care

Reality indicates that people without insurance tend to refuse care. The uninsured represent 4.7 percent of hospital stays. This figure falls well below the 30.6 percent of people with private insurance, 22.6 percent paying with Medicaid and 39 percent with Medicare. No savings proves worth your family’s health. Short-term insurance offers some peace of mind should you need to seek care.

Affordable Premiums

While some short-term insurance premiums run high, shopping around helps find a policy within your budget. And, these monthly payments run lower than ACA-approved, long-term policies. An experienced insurance agent offers you an ally in making sense of your options. These professionals help weigh the premium, deductible, coverage and other factors to find the best fit for your situation.

Freedom to Change Your Mind

You also receive peace of mind knowing that short-term insurance requires less hassle to attain. (Although, you also may get denied.) Furthermore, cancelling your policy is simple. You opt out should you decide the payments are too much. Or, your situation may change allowing you to choose another policy, even an ACA-approved one.

SITUATIONS TO CONSIDER SHORT-TERM INSURANCE

While short-term policies offer bare-bones coverage, they are worth a look. Several situations arise for you to consider a gap policy as opposed to no insurance at all. Perhaps you:

— Missed the deadline for ACA long-term insurance

— Lost your employment and insurance coverage

— Are in an insurance waiting period

— Cannot afford ACA long-term coverage

— Are waiting on Medicare eligibility

In any case, a reputable insurance firm weighs the costs and benefits with you. Doing your research and considering your options allows you to make a wise financial and medical decision. Doing it today protects you before illness or injury hit.

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Category: Health Insurance

5 Differences Between Long and Short-Term Health Insurance

Short vs. long. Medical vs. life. Temporary vs. full. Term vs. whole. Health insurance vs. disability. Home, auto, and travel. The insurance options can become overwhelming. While we cannot clear up all the confusion in one article, let us explain the difference between short-term or term policies and long-term or whole options.

Short-term health insurance offers coverage in the absence of long-term insurance. Situations in which you may need short-term insurance include:

– A job loss or the state of being between jobs
– The waiting period required by an employer or government-based health plan
– The open enrollment deadline passed

In these cases, short-term insurance (sometimes referred to as gap insurance) covers your medical expenses for a period. However, the differences between short and long-term options are worth paying attention to, so you do not face any unpleasant surprises.

Even the options for short-term coverage vary. Check the details of any policy before committing to a purchase. Talking with a licensed insurance agent helps you sort through the offerings and identify which works best in your situation.

Let’s compare.

Short-Term vs. Long-Term Insurance

The differences between long and short-term health insurance prove significant. Understanding the variations helps you choose a policy which fits your situation. Take your pre-existing health issues, potential near-future medical needs, other living expenses and current job status into consideration as you shop.

1. Time Constraints

Unlike long-term insurance, short-term (known as temporary) options are limited to a period. Twelve months is typically the maximum coverage on a short-term policy. Some policies require a three-month minimum.

Also, these plans are not renewable. Once your set coverage ends, you are uninsured. You may apply for a second short-term insurance to give you longer protection. However, even this option limits you to enrolling in only two policies per year.

2. Flexibility

With coverage ranging from 30 days to a year, the length of a short-term policy is up to you. You pay for the protection you want. If you need six months of coverage until your next employer’s medical plan kicks in, you only pay for six months. If it takes twelve months to find a job and secure insurance, you have the option.

Furthermore, short-term insurance tends to require a quick application and be approved quickly. This proves especially helpful in cases where your previous policy ends unexpectedly. A job loss is one such case. You may discover you get coverage as soon as the day after you enroll. Plus, you do not need to wait for an open enrollment period. Short-term policies are available year-round.

3. Expense

Gap insurance policies offer lower premiums than long-term policies. The reason for this cost-effectiveness, however, is the limits in coverage. The purpose of these policies is to protect you and your family in the event of unforeseen accidents and illnesses. Your basic medical needs and emergencies get covered, not much else. Pre-existing conditions, preventative treatments, and prescriptions often fall outside the scope of temporary insurance plans.

Also, medical underwriting may reject you from coverage due to an unhealthy lifestyle or current health conditions. While long-term insurance policies protect you from such rejection through Affordable Care Act (ACA) requirements, short-term options are not expected to adhere to such rules. These limits reduce costs.

4. Pre-Existing Conditions

As mentioned, short-term policies do not cover pre-existing conditions, as their long-term counterparts do. Keep this in mind when considering a gap policy. If you have a pre-existing condition (and, most of us do), weigh the cost of the insurance. A short-term option provides reassurance in the event of the unexpected. However, adding the medical costs of treating your pre-existing condition to the monthly premiums may not be wise.

5. ACA Requirements

The ACA dictates the qualities of health insurance policies. The goal is to provide affordable healthcare to all people. However, the requirements laid out by ACA only apply to long-term policies. Gap insurance falls outside these mandates. For you, this means that the ten essential health benefits ACA plans must cover do not apply to short-term insurance. Typically, sudden illness and injury coverage provided by emergency services are covered, nothing else.

Your Choice

Both short and long-term insurance options come in a variety of packages with a range of costs. Know your situation and your real and potential medical needs clearly as you consider different policies. Investigate the details of each policy to understand what your dollar is buying. Get a clear understanding of the monthly premium, deductible, out-of-pocket expense and the conditions covered. (Remember, medical costs skyrocket in the absence of insurance.) Then, compare the two.

Using wisdom when choosing an insurance plan protects you and your family in the short and long-term. Do your research. Contact a knowledgeable agent. Weigh your options. And, choose wisely. The best insurance is the one which fits your situation and meets your needs.

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Category: Health Insurance

What You Need to Know About Short-Term Health Insurance

Short-term health insurance offers a temporary insurance solution, or so is its intent. A gap in insurance due to a job change, while waiting for Medicare or other coverage to begin, or being outside the open enrollment period proves a viable situation to obtain short-term policies.

You may also know this coverage as temporary, term or gap health insurance. Short-term coverage works well in some cases to ensure you and your family are financially protected in the unfortunate event of an accident or illness. However, consider the points below to determine if this fix is the best option for your situation.

The Benefits of Short-Term Insurance

Financially and medically protecting your family while between policies or waiting on insurance proves frugal with short-term options. The following benefits tend to run true of most temporary policies. Keep in mind, however, that term policies vary just as long-term insurance policies do. Checking the details of the plan you intend to purchase makes for wise decision-making.

At-Will Cancellations

Short-term insurance offers the option of starting your policy inside and outside annual enrolment periods. This fact means no waiting for enrollment dates to roll around before getting coverage. Furthermore, no penalty exists if you cancel the policy early, usually after three months of coverage. Premiums paid in excess are often refunded.

Reducible Premiums

With a variety of term policies available, finding one to fit your budget is possible. You select the people covered and maintain some flexibility in how they are covered. For instance, choosing fewer benefits or a higher deductible reduces your premium. Furthermore, in-full, up-front payments offer a discount.

Other Plan Compatibility

Combining short-term insurance with supplemental policies offers your family comprehensive coverage. Accident, critical illness, dental and vision plans combine well with temporary insurance. Your family’s needs and budget determine the wisdom of adding additional policies to your major medical term insurance.

The Cautions of Short-Term Insurance

While the benefits of temporary insurance seem to make this choice a no-brainer, again, caution is required. The limits and issues of this type of policy make it impractical for some individuals and families. Again, policies vary. However, the following cautions arise with all short-term options.

Limits Exist

Short-term policies tend to cover major health issues only and no prescriptions. Preventative care is not covered either. These limits leave your family unprotected for lesser health issues and drug therapy. Check policies carefully to understand exactly what coverage you can expect. Also, temporary policies are not renewable. Available in one-month windows for approximately one year, this insurance ends whether another policy kicks in or not.

Denial is a Possibility

While obtaining health insurance is mandatory, short-term policy applicants can be denied. And, they are. In other words, your medical history may exclude you from certain policies. Long-term plans are not permitted to deny your application based on medical history under the Affordable Care Act (ACA). The same rules do not apply to short-term insurance. Post-claim underwriting allows for denial of specific claims as well.

Pre-existing Causes Problems

In most cases, pre-existing conditions fall outside the coverage of gap policies. Your state’s definition of pre-existing comes into play here, and medical underwriting is required. However, generally speaking, diagnosis or treatment within the last two to five years denies coverage. Furthermore, these policies fail to cover maternity leave should you or your spouse become pregnant.

Pay for Better Coverage

Options exist to lower short-term insurance premiums. And, the premiums run lower than long-term options. However, you get what you pay for. Reduced premiums mean less coverage and higher deductibles, meaning you pay more out of your pocket. The average premiums run around $110 and the average deductible to be $3,589.

ACA Not Met

Short-term insurance policies do not meet the requirements of the ACA. They fail to qualify as the minimum essential coverage or mandated coverage. Financial penalties exist for those with gap policies unless other exemptions apply. Furthermore, these temporary plans do not qualify for tax subsidies. These breaks exist only under ACA.

The Long and Short of It

With a rise in short-term health applicants, according to Ehealth, gap policies prove worth a look. While the drawbacks lend caution, many health insurance consumers find them attractive when between open enrollment periods or when landing between premium subsidy and Medicaid qualifications.

Calculating the costs of short-term insurance options and penalties helps you discern the best option for you and your family regarding long and short-term insurances. While not a long-term solutions, in some cases, the benefits of short-term coverage outweigh the costs associated, including penalties.

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Category: Health Insurance

How to Take Care Of A Gap In Medical Insurance Coverage

The purpose of health insurance is to make sure that you are covered in case of an emergency, if your health suddenly worsens or if you need to deal with a chronic condition that you would otherwise never be able to afford to treat. However, no matter how diligently we plan out our insurance coverage and work to make sure that we have everything we need, every so often we might experience gaps in our coverage — and if this happens, it can be worrying (not to mention costly) to go without insurance for a while.

However, if you experience a gap in your medical insurance coverage, you have options — besides paying the monetary fine exacted for not having health coverage, which is required under the Affordable Care Act. You might be facing a gap if you suddenly lose your job and no longer have access to your workplace insurance, or if you will be enrolling in a group plan but your coverage doesn’t start for another few months. In any case, you can take steps to make sure that you are insured at all times.

Open Enrollment

To start, if you leave your job and will no longer have access to job-based insurance, you can buy a plan on the federal insurance marketplace. Each year, the Marketplace has an Open Enrollment period (From October to December) during which time people can enroll in health care plans for the upcoming year; however, losing your job-based coverage (whether it’s because your quit or were fired) entitles you to a Special Enrollment Period during which time you can buy insurance. Your new policy can begin on the first day of the month after you initially lost your insurance.

COBRA

Then, there’s COBRA continuation coverage, which allows you to keep your employer-based health plan for a period of time (usually 18 months) after you leave your job. COBRA is a federal law that is meant to cover the gap for people who lose their insurance suddenly, while they look for alternate forms of insurance that can start officially within the next year. With the COBRA plan, you pay the insurance premium and an administrative fee, but don’t have to deal with the nitty-gritty of getting an entirely new policy (For at least a while).

Private Insurance

On the private insurance market, you can find policies that cover gaps ranging from one month to one year. These policies will incorporate different benefits, so that you can choose the one that works best for you and is in the price range that you are willing to pay. Features can include office co-pays, prescription drug coverage and low deductibles, for example, and you can decide whether you want (and are willing to pay for) a plan that includes these things or not.

Consider Your Health

Furthermore, the state of your health can also affect the short-term insurance plan that you choose to purchase. For example, people who are medically underwritten to receive short-term insurance sign an agreement stating that they don’t have any medical conditions that would prevent them from qualifying. Under the Obamacare law, the provision banning discrimination on the basis of pre-existing conditions does not apply to short-term insurance policies.

Guaranteed Issue

A guaranteed issue plan, meanwhile, can be beneficial for those who have ongoing health concerns and just need to bridge a gap between their current health coverage and a group plan or Medicare policy that they will soon have. Typically, these plans will not cover preexisting conditions, but will keep you insured against unforeseen circumstances while you wait for your full coverage to kick in.

Location and Restrictions

Unfortunately, due to the location in which you live, the duration of your short-term health insurance plan may be restricted; For example, some states only allow short-term insurance plans that last a maximum of six months; this means that you will soon have to purchase and qualify for a full health insurance plan. Obamacare policies shorten the time line with three months on a short-term plan in order for you to avoid paying the penalty.

Under the current rules, short-term policies do not meet the standard of Minimum Essential Coverage. So it’s important to figure out what the rules are where you live, and to pick out your short-term insurance based on that. Ultimately, you can fill the gap in your medical insurance coverage with short-term insurance policies, as well as the public options listed above that form a more long-term solution.

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Category: Health Insurance

7 Considerations When Choosing Ohio Insurance Agents

When you’re shopping around for an insurance policy, one thing is probably on your mind: price. Most people are looking for the cheapest option possible. But choosing an insurance agent is more than just a cost-conscious decision. This choice can impact your life for years to come. Make it wisely, by reviewing all possible options. Ideally, customers want to get the best coverage at the lowest price. The goal is to get the most comprehensive coverage to suit your needs at a competitive rate. The best insurance agents will have a few qualities in common. Here are a few considerations to keep in mind when searching for Ohio insurance agents.

1. Agent Type

There are two types of insurance agents: direct writers and independent agents. Direct writers, who are hired directly by an insurance company to write policies just for them, will work just for that one company. Independent agents, meanwhile, work for the client. They are hired by insurance companies on a contractual basis and can often provide you with numerous options that a direct writer may not have the leeway as an employee.

2. Credentials

When meeting a potential insurance agent, ask questions about their experience in various areas, and find out what their areas of expertise are. Look for technical credentials that are marked by letters after the insurance agent’s name — CIC, CPCU, ARM, and CRM. Ask about their education and the number of years they have worked in this particular field of insurance.

3. Type of Insurance

Depending on what kind of insurance policy you are looking for, you may want to find an insurance agent that specializes in a particular type of coverage. For example, if you are a business owner, it makes sense to find an agent that has worked with commercial insurance. Some insurance agents will offer many different types of insurance, while others will be more specialized, so make sure that you find someone who has what you want.

4. Personality

Though this is a professional relationship, his or her character still matters. Verify the insurance agent you work with is someone who communicates well and understands your needs. Look for traits such as honesty, trustworthiness, passion, and enthusiasm. Such qualities will help you feel confident that your agent is there to help you. Plus, customers want to know an agent is readily able to answer questions and make changes as needed.

5. Convenience

While location should not be a key factor, it sometimes plays a role in a customers decision-making process. Many people look for insurance agents who understand the needs of the people who live and work in their neighborhood.  In certain instances, this means finding an agent who services a designated region. And some customers prefer to work with agents in-person while others like to deal with insurance issues online. Consider your preferences and choose an insurance agent who can provide the highest level of convenience. Communicating with your insurance agent should be simple and accessible.

6. Reputation

Before you commit, make sure to do your homework. Check out the agent as well as the agency itself. Start by researching the agency online to see what kinds of reviews other people have left and what kind of press the agency receives. Is it a respected and philanthropic business, or is it embroiled in the middle of a lawsuit? Select an agency that appears trustworthy. Then, search the agent. If you find any social media profiles, you can learn a little more about their online personality and see if it matches up with their professional one. Gather information and find out as much as possible before you commit to working with an insurance agent.

7. Expectations

A smart way to test a potential agent is to ask for a quote right away. See how long it takes to get a response and what the quote includes.  Is the agent passionate about signing you on or just going through the motions? Talk it through and ask about anything in the quote that makes you feel unsure. The agent should give you clear answers and help you understand the terms of the potential policy. Then, ask for a detailed, written quote that can delineate the carriers and coverages to their full extent. A dedicated agent should help you understand the coverage being offered, including what might not be covered by the policy.

Choosing the right agent requires research, but it is worth the effort. An insurance agent does the shopping around to help you save time and money in the future. Over the years, an insurance agency can provide essential protection that fits your budget and needs.

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Category: Health Insurance