Health insurance can be complex, and there are a lot of myths and misconceptions out there about it.
Sometimes, it seems like there’s so much that goes into finding the right health insurance plan that things turn into a game of telephone. Do you remember this one from childhood? One fact gets misheard, and then repeated, until, before long, people have a totally warped view of what it takes to get and and use their health policy.
It’s time to set some things straight. Let’s break down the true from the false, and dive into a few all-too-common health insurance myths:
Myth #1: “I Never Go to the Doctor, So I Don’t Need Any Kind of Health Insurance.”
There’s a tendency to believe that if you’re young, fit, or healthy, then you don’t need health insurance. If you’re already healthy, the thinking goes, then why pay for doctors’ visits you don’t need? For many young adults and others in relatively good health, there is sometimes a belief that health insurance isn’t “worth it.”
In reality? The fact of the matter is that, for all of us, good health can’t be taken for granted. It’s important to think ahead, and consider what may happen if your health should take a sudden turn for the worse. What would happen to you if you suffered an unforeseen accident, or came down with an unexpected critical illness?
Health care costs can be incredibly expensive; if you’re not covered, you may be on the hook for paying hundreds of thousands of dollars all on your own. For many people, a sudden serious illness won’t only impact their health, it may also harm their financial wellbeing, even potentially for years and years down the line.
Now, that’s diving into the worst case scenarios. But even if you remain healthy and fit, being covered still gives you many benefits. For instance, when you’re covered, you’ll generally be able to receive access to preventive services at an extremely low cost (and oftentimes, at absolutely no cost). This way, you can get important screenings and check-ups as you need them, without having to pay more of your own money. In other cases, insurance policies will come with perks such as discounted gym memberships, access to special services, and benefits such as health savings accounts, which can make having a plan even more useful to you.
Myth #2: “If You’re Looking for a Health Insurance Policy, the Most Important Thing to Look for Is Always a Low Deductible.”
In health insurance, it’s important to understand what a deductible is—and why it really matters for your plan.
Put simply, your deductible is the amount you pay each year for eligible medical services, before your insurance plan begins to share in the cost of covered care. This amount can vary anywhere from a few hundred dollars up to thousands of dollars, depending on your plan. Your deductible is an “out-of-pocket” cost, meaning that you pay it on top of your monthly premium.
Now, for many people, there is a belief that the amount of the deductible is the “end-all-be-all” factor when deciding on a health insurance policy. “Deductible” is a bit of a buzzword for health insurance.
It’s crucial to remember that while the amount of the deductible is an important aspect of a health insurance plan, it’s not the only thing to consider.
It’s like when you’re shopping for a car, and a salesperson or ad tells you how much horsepower a new sports car has. Sure, that gives you a vague idea of what the vehicle can do, but it doesn’t tell you everything. There’s still a lot of information missing, which could help you decide if that car is going to be right for you. How are the brakes? Is there a security system? What kind of storage space is there in the trunk?
When shopping for a health insurance plan, like seeking out a new car, it all comes down to balancing your wants and needs. Different health insurance plans will have different deductibles, but there really isn’t any one deductible that’s better than another. It’s all about you. Your life isn’t cookie-cutter, so your health insurance plan can’t be, either.
It’s important to evaluate the entire plan, not just the deductible, and weigh factors like your monthly premium, copayments and other out-of-pocket costs, your provider network, and more. It’s all a balancing act. So, for example, a plan that comes with a higher deductible may also come with a lower premium. If you don’t go to the doctor frequently, this could save you a lot of money over the course of a year.
Myth #3: “I Want to Start Offering Health Insurance Benefits to My Employees, but It’s Way Too Complicated.”
Individual health insurance is coverage you purchase for yourself or your family. More commonly, though, adults and their families are covered through group health plans, often provided by their employer.
If you’re a business owner or an employer, you may have thought about offering health insurance benefits to your employees. It might be a very positive step to take on behalf of your team, and yourself. For business owners, offering insurance coverage to your employees and teammates has been shown to:
- Increase employee morale
- Improve retention
- Make hiring and recruiting easier
- Increase office productivity
Getting your team covered shows that you care—while also keeping your workplace productive and healthy in the process. It’s a great thing to do, and it’s significantly easier, and more affordable, than you may think.
The reality is that there are health policies out there for businesses of all sizes, including organizations with just a handful of employees. There are many different plans available, with different levels of coverage, out-of-pocket costs, and premiums, meaning that there is almost certainly a plan out there that will work for you and your team.
Even better, enrolling your business in a group health insurance plan may also come with financial benefits that can sweeten the deal, including tax advantages, in certain cases.
Myth #4: “Shopping for Health Insurance? You’re Going to Have to Do It Alone.”
Health insurance can be intimidating, there’s no doubt about it. It often seems that health insurance laws and regulations are always changing. A lot of the information online can be misleading, out-of-date, or just flat-out wrong. State health exchanges can be incredibly confusing, and insurance company websites are often dense and difficult to navigate. It’s time consuming to research and understand health insurance, and it can be frightening to think that you may end up committing to a plan that may not be the right fit for you, or you and your family, in the long run.
While it’s certainly true that health insurance can be complex, it’s a misconception to believe that you have to go through the research and enrollment process alone. Fortunately, there are health insurance consultants, like the Enrollment Specialists, who are available help you find the right health insurance options for you and yours.
Working with an experienced health and life insurance consultant, like our founder and principal consultant, Matt Peebles, is a great way to get a handle on all of your health insurance coverage options and customize the plan that will ultimately work best for you.
Working with Matt is a great way to save money and effort, at every step of the way. He’ll answer all of your most pressing questions by providing you with the personalized care and specialized attention you deserve.
In short? Matt truly feels that there is a plan out there for everyone—and he’ll do what it takes to help you find yours. Even better? It will never cost you a penny to take advantage of Matt’s exceptional services and wealth of knowledge. That’s right: It doesn’t cost you anything to get a quote, talk through your options, or even sign up for a policy.
And when you work with Matt and the Enrollment Specialists, you can have greater peace of mind, knowing that you’ve got someone on your side for the entire life of your policy. Matt will be your point of contact for the entire lifetime of your health or life insurance plan. He’ll always be a quick phone call or email away, ready to help whenever you:
- Have questions about your policy
- Need some quick guidance
- Require new insurance cards
- Want a go-between to work with your insurance company on your behalf
- Are curious about changes in health insurance laws or requirements
- Need an advocate on your side
Ready to Get Started?
There’s a reason why thousands of satisfied clients have turned to, and returned to, the Enrollment Specialists over the years. We make choosing a health insurance plan simple by cutting through the red tape and finding the solutions that will work best for your unique situation.
Ready to save time and money? Ready to get answers to your most pressing health and life insurance questions? Drop the Enrollment Specialists a line today to get the ball rolling. You won’t believe what a difference it makes to be able to say, “I Got A Guy” for all things health and life insurance.