Just recently, I had a small group contact me -a husband/wife group that had put their coverage in place about three years ago. They had a broker set everything up, and they have never heard from this broker again, even though the renewal comes up every year. The insurance company had just told them how much their premium was, and they paid it. What they didn’t realize, was that they should be reaching out to the broker each year. They had just thought that their health insurance premium is a cost that they need to pay and paid it without question. After getting in touch with them – they found me on my Facebook page -, I did an evaluation, and I was able to look at what they were paying, which was a lot – around $2,300 a month for a husband, wife, and one child, with a company that is known for being very expensive.
My role is to find out all of the information I can about my clients, talk to them about their needs, get a list of their doctors and medications, and in doing so, help them find the best coverage possible. If changes need to be made, that is what I am here for. As in the case of the above clients, I got them some quotes, and I was able to save them $1,000 per month in premiums. That’s $12,000 for the year. And why is that? Because we switched the type of plan that they had. They had a PPO, but it was a zero deductible PPO, which did not make sense based on their personal factors. They are both very healthy. This means they were paying a lot of money in premiums for health care insurance that they were most likely not even using. Sure, everyone loves to have great coverage if something bad happens, but what are the odds of that happening? You know, we have to weigh those risks and weigh the money saved in premiums over the potential deductible if something catastrophic was to happen.
After my evaluation with them and having many conversations, I switched them to an HMO plan, because their doctors were already in-network. They don’t see specialists or anticipate to, so there is no need to be on a PPO. If they did need to see a specialist, they would need a referral from their primary care doctor which is not a big deal. My clients have now opted to try the HMO for the year to see how they like it. If not, then we’ll switch next year.
Take away:
As my client, every year when your policies are up for renewal, I’m going to evaluate the choices for coverage and reevaluate your needs and check if anything has changed. I’m very thorough and work hard to provide a very personalized service to my clients. You can contact me via email, text, or phone call.
If you or someone you know that is a husband/wife group, a corporation, or they are employees of the corporation, I can review their current coverage and recommend changes to hopefully save money. You can book an appointment with me for a 30-minute consultation, at no cost to you.
