Being An Educated Health Care Consumer is Important to Controlling Your Health Care Costs:

Approach Health Care Insurance Differently

 

What is a deductible in health insurance?

A deductible is simply the first one to pay. If the insurance pays first (and you pay nothing) there is no deductible. If you pay some and the insurance pays some, you both contribute to the payment, which is a co-pay. If there is a deductible, the consumer pays first until you reach the amount in the contract.

If I pay more in premium, do I get better coverage?

If you pay more, there may be more doctors to choose from in your network, you may pay less at the point of service, and you may have a lower maximum out of pocket. In general, though, the more you pay, the more you pay. The insurance companies get more profitable. The service providers may be paid a more generous amount - but the consumer usually does not get that much more in exchange for higher premiums.

How can I lower my health insurance premium?

The simple answer is, embrace the deductible! If you figure out that you usually use less than $1,000 worth of prescriptions and doctors services during the year and a $1,000 deductible reduces the annual premium by $1,500 - go for the deductible! If you spend the full $1,000 you are still $500 ahead!

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Instead of attempting to manage a problem that gets larger over time, we are providing a solution by educating consumers on how their daily health care choices impact their annual premium costs. Educated Decision Makers spend less money, are healthier and are more satisfied with their health insurance plans and choices.

If you own a company or manage a company benefit plan, you know that renewals are never fun.

Did you know that your employees can help you LOWER your annual renewals?

It can be a team effort!  Your employees can help you control costs!  The first step toward cost control is education and awareness.  Until they know the rules, however, they can’t help you to help them!

Your health insurance broker shops and negotiates your health insurance each year.  They may also be able (on a limited basis due to HIPPA regulations) to manage some help with claim issues.

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Educational Initiatives

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The Law of Physics states that for every action there is an equal and opposite reaction.  This rule also applies to health care and insurance. 

We encourage your employees to become engaged in their own healthcare because they will finally understand their choices and how the ways they manage their own health care impact NEW financial expenditures.

By giving employees the tools to understand the doctor's decision making processes, your employees will be empowered to engage in very real cost containment discussions in the physicians office – when a change can be most easily affected. 

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We love what we do! If you’d like to learn about Health Care Insurance Education and how we can transform how you feel about insurance, we’d love to hear from you!

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Katherine Woodfield, MBA

Katherine Woodfield, MBA
Author, Broker, 20 year veteran of the Health Care Industry and Author of “Don’t Buy THAT Health Insurance: Become an Educated Health Care Consumer

Your Healthcare Consumer Advocate

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