It does not take long to quote. Most quotes are generated after a follow-up call since we do not collect sensitive data online.
Most insurance companies want applications to be submitted near or by the 15th so they can process and ship out cards prior to the first of the following month.
All comprehensive insurance coverage plans begin on the first of the month. There are Short-Term plans and Faith Based plans that provide additional options for start dates.
Budget for healthcare premiums as an investment to help protect your entire financial worth. A hospitalization for a broken leg or pneumonia can lead to bills in the thousands to tens of thousands of dollars or more. Your investment in health coverage helps to protect you from medical events that may put your wealth at risk.
A health insurance broker is a state-licensed agent who has taken special state-required classes and passed a rigorous state exam. This training and licensing process insures the agent is proficient in the following areas:
In addition to state licensing, insurance agents must also apply for an appointment (approval) with each licensed insurance company they wish to represent. Agents cannot sell products of companies they have not been appointed by.
Unlike a dedicated agent, a health insurance broker is both licensed by their state as well as appointed by multiple insurance companies. Brokers are able to offer a broad range of choices to the consumer to fit their particular insurance needs.
Most applications are fairly simple. Fully comprehensive insurance programs do not require medical underwriting. A majority of the application process is providing personal details such as name, date of birth, address, social security number and additional identity factors.
Most health insurance premiums are paid via automatic monthly payment. Some products may allow a quarterly payment but they are rare. We recommend using ACH from your bank account instead of a credit/debit card due to the ever-increasing risk of fraudulent activities associated with cards. Even forgetting to update your payment details when you receive a new card may cause your premiums to become delinquent which puts your coverage at risk.
The tax deductible status of health insurance premiums may be relevant to small business owners who do not have group insurance. Due to frequent changes in health care regulations we always recommend that you consult your tax professional to verify deductibility based on your own unique circumstance.
Health insurance brokers are paid strictly by commission from the insurance company. The broker is only paid if you buy a product. There is no cost to you to have a licensed health insurance broker assist you in purchasing your health insurance plan. Health insurance brokers also never take money for a premium. All premium dollars for health insurance are paid by you directly to the insurance company. You should never pay a health insurance broker for your premium.
At Health Benefits 411, we are continually gathering information from a variety of sources. This broad spectrum of information gives us perspective (the “411”) from many different stakeholders in the health insurance industry.
Our in-depth knowledge on health coverage topics gives us the ability to translate how industry changes directly impact you, your family and your business – now, and in the future.