Don't Buy Healthcare insurance…

by Alston Balkcom
1800insuranceCT.com

And and believe that you can stop researching protection plans. healthcare coverage rates increase frequently and you can't lock in a rate for health protection like you can with whole life insurance or a 20 year term policy. Making sure that you have the lowest price for quality health care protection can only be done if you review your coverage every year or so.

Your medical care insurer is constantly monitoring the average costs of claims that policyholders make against their health care coverage cover. They are constantly changing the rates. The rates will almost always go up, but each policy series may have different rate increases. You want to make sure that you are in the getting the best deal, not only this year, but ten years from now as well.

If you have an older insurance policy, particularly one that isn't being sold currently, it is important that you compare other plans. There is a good chance that you can find less expensive health care insurance plans available that have similar benefits.

When a medical care insurance company stops offering a particular policy series to new members, the rates on that policy series will almost always go up faster than they will on any open plans. The reason for this is not because the age of the policy holders, but the age of their exams or underwriting. When you look at 100 people of any given age who have just passed their medical underwriting, they are much less likely to have major claims than 100 clients of the same age whose health status was last reviewed five years ago. They have had five years to raise their blood pressure, weight and cholesterol. Many are in excellent medical care, to be sure, but when you look at the averages the newly underwritten group will almost certainly be healthier.

This means that your major medical insurance rates will be lower if you are moved into the group of their insureds who have been underwritten more recently. Make sure that you maintain or improve your good medical and that you regularly shop for medical insurance. Shop for a wife or a husband once, shop for coverage on a regular basis.

In order to be approved for any new medical care protection plan your major medical must be good. This doesn't mean that you will be denied if you have had the flu, but you might be denied if your weight doesn't meet their criteria or you have heart disease.

Perhaps one day we will have a system where everyone can qualify for medical insurance regardless of their medical care status. That day is not this year. If you are looking for coverage now, we need to do what we can to control the aspects of our health that are within our control if we want to get the best rates.

Of course, a not insignificant side effect of being healtheir is that we get to live longer and probably more fulfilling lives. If the additional cost of a rated medical protection plan is the final straw that gets you to stop smoking or exercise more, your life will be better for it.

Right now we have a for profit healthcare insurance system where both the protection companies and the consumers cherry pick. The insurance companies want to deny anyone who is a bad risk; consumers often avoid getting healthcare insurance when they are younger and healtheir.

We may have a better health care system eventually or we may just have a different system with new deficiencies. For now that doesn't matter, the system we have now favors those who price and benefit shop and only those who are in good medical care can price and benefit shop so don't buy major medical insurance and believe that you can stop shopping and comparing cover.

Alston J. Balkcom has been a medical insurance agent since before his youngest could walk. Now a grandfather, he is a veteran insurance broker. You can find health insurance quotes on his site.

Article submitted Friday, November 13, 2009 & read 39 times.

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