No 1: Group Protection
Everybody knows what happens if you have a claim on an individual insurance policy, like your auto- or homeowners insurance! Right, in most cases, your rates will go up. Because for the insurance company you are an individual. As a member of a group, you never can be singled out, that means just because you have a claim your rates won't go up. Only if the whole group rate increases your rate increases too.
No 2: Any Doctor, any hospital
You should be in control which doctor you want to consult. How good is a plan that doesn't give you access to the best doctors, hospitals and surgeons for your specific case? Even if you have a PPO, if you go outside of the network your costs can get you into bankruptcy. Shouldn't you be the one to choose the right doctor for yourself?
No 3: Stability of rates
Nobody can and will guarantee you the future rates of their plan. But plans offered by groups achieve two things:
1. They don't increase your rate whenever you have a birthday that ends with a "0" or a "5".
2. Health insurance groups are mostly chosen by self-employed people. Ask yourself, when do you really go to a doctor? That's why these group plan under utilize the health insurance. Therefore rates are more stable.
No 4: Stability of benefits
Besides increasing your rates on every special birthday like mentioned above, individual Health insurance providers tend also to cut out benefits. So at the end of the year you might pay more money for less coverage. So far, benefits from Group-Health insurer have never been taken away from their policy holders.
No 5: 24/7 coverage
Workers comp covers you on the job for accidents and injuries. Many people are not covered with workers comp because it is very expensive and just covers you on the job, but what happens to you if you are not on the job? Many individual plans exclude coverage on the job too. But no matter what you are doing and when you should be covered.
No 6: Medical necessity
This is the most important reason for your consideration which plan is the right one for you. Pre-authorization! Two little words that can make a big difference for your life. If a doctor is required to make a pre-authorization, it means that he has to talk to your insurance company if they will take over the cost for your treatment. What happens if they decline your treatment? Your best coverage will be worthless.
I can show you a plan that:
- gives you protection under a group policy.
- allows you to see the doctor you think is the best for you.
- has very affordable rates and allows you to customize your plan after your needs and wishes (you only pay for that what you really need)!
- doesn't take away your benefits
- covers you on and of the job 24 hours 7 days a week.
- lets the doctor decide which is best for you, not the insurance company.
Thomas Hermschulte is a Financial Educator in the Orange County, CA.
As a Financial Coach, Thomas takes an individualized approach, specific to each one's needs and situation. His goal is to educate each client on their financial possibilities. He teaches and applies strategies to maximize your retirement income, minimize taxation, enhancing estate value, and responsible protection for one's family.
Thomas.Hermschulte@mutualofomaha.com
2601 Main Street, Suite 960
Irvine, CA 92614
Cell: 714.330.1899
