My goal is to give you the same information the broker has. Before you go out and buy or renew your health insurance, you need to read this book. When you have the same information that your broker has, the same knowledge and understanding of rates, you may realize that there are a lot of ways to save money on health insurance premiums.
I talk to a lot of people who say that they are afraid to make changes because they feel that they use a lot of services. They see the insurance company EOBs, explanations of benefits, and payments being made to various medical service providers and know that the policy that they have is good. It helps to mediate the costs of the goods and services that they use.
The next year, when premiums go up, the same people seem surprised. The great insurance that paid out several thousand dollars is now raising rates several thousand dollars! This makes sense, though, because the insurance companies are for profit business entities. They are not going to just give their money away. They want it back, the next year, and get it back through increased premiums. Here are a few things you need to consider when shopping for healthcare insurance:
- How much is the entire health insurance premium?
- What does your health insurance cover?
- What are your predictable costs each month?
Understanding the answers to these questions is the key to reducing your health insurance premiums by 40–50 percent. If your goal is to buy quality health insurance at an affordable price, this book can help you achieve your goal. The secret to achieving this objective is becoming better educated about the product you are buying. Educated health care consumers understand their own predictable costs and buy insurance that protects them against disaster. You don’t insure predictable costs – you budget for them.
It’s time to know what your parents know, know what your broker knows and know what the insurance companies know. The free market is not at work until the consumer has price sensitivity. If you don’t know how much the retail price of your prescription is, or how much your doctor charges for a sick visit, you have no price sensitivity. With prices hidden from view, we don’t have a free market. It’s time to take control and take back your money.