Houston, Texas (PressExposure) January 26, 2007 -- Have you taken a good look at your health insurance policy lately? How about the fine print? When you do, you'll find some "eye opening" underwriting. From new application to claims processing there are many barriers before you can get benefits. However, ChamberHealth USA is pioneering co-op healthcare in an effort to avoid the heavy handed underwriting commonly found with traditional health insurance companies.
Let's start with the beginning of the process. The first thing you face is pre-existing conditions, if you do have any you will be denied or you have a long waiting period. Also, if you are accepted with a pre-existing condition you will assuredly pay extremely high premiums. Next you have deductibles which has to be paid before any benefits are given, after which you have co-insurance that is typically an 80/20 split between the insurance company and you.
The next barrier is the limitations. If you have insurance through a large company some of these barriers may not apply to you but if you are in the majority who own or are employed by a small business, you will be subject to limitations such as limited office visits to your doctor or a lifetime maximum. There may also be exclusions, such as, no other insurance allowed with your primary insurance. And don't forget the inevitable annual rate increase which has been as much as 30% in one year. Finally, for extras such as dental, vision and chiropractic care, it will either be an extra expense or not covered.
When it comes to health insurance most of us operate from assumptions. We assume because a health insurance company is large or well known, it is a good deal and will pay our claims. We also have the misconception that payments of our claims are guaranteed, nothing can be further from the truth. In fact, large percentages of claims are denied on a daily and ongoing basis. And yet we never ask big insurance companies the percentage of denials the company has in the previous year. We also assume the large insurance companies will never go bankrupt or insolvent and who ever heard of a big company going out of business?
Usually most of us aren't aware of the heavy handed underwriting from traditional health insurance companies until we encounter a problem with a claim. Then we are directed to our policies fine print or disclaimers.
Before signing up for health insurance, it is very important to know what the limitations are. For example; will it cover your physical therapy? Does it cover your prescriptions? How many office visits to your doctor are allowed? What percentage of claims have they denied in the last 2 or 3 years? How many rate increases have they had in the last five years? These questions and a few of your own will help you understand what you are buying as well as move you from assumptions to what is fact.
There are alternatives available to traditional health insurance just makes sure they don't operate under the same heavy handed underwriting as the traditional health insurance companies.
ChamberHealth USA is a co-op healthcare company and an alternative to traditional health insurance with comprehensive benefits. They have a wide range of benefits like: no deductibles, pre-existing conditions are accepted and unlimited office visits to the doctor. So the next time you decide on health insurance, pay less attention to the premium and more to the policy.