1. Dr Visit Co-Pay - Selecting this option can possibly increase your monthly premium up to, but not limited to $100 per month + every time you go to the doctor you're required to pay the co-pay. That means you've given the insurance company $1200 per year, regardless of going to the doctor. If you're healthy and normally go to the doctor only once or twice per year, you can save thousands of dollars by NOT selecting this option. You can still go to the doctor as many times as you like and each dollar you spend will be subtracted from your annual deductible. For example: The average doctor visit can cost about $100. If you went to the doctor twice in one year, then your annual out of pocket expense for doctor visits would only be $200; as opposed to the $1200 paid in premiums to the insurance company. Also, the $200 will be subtracted from your annual deductible.

2. Co-Insurance - Traditionally, insurance companies take pride in the 100%, 80/20 & 75/25 Co-Insurance plans because those plans make the insured think they're paying less out of pocket. That is 100% not true! You need to focus on your total out-of-pocket dollars. That will include your monthly premium, your annual deductible, and your co-insurance maximum out-of-pocket-dollar-cap. Your co-insurance portion is usually capped to a certain limit. For example, you may see on your policy 80/20($3500). That means after your annual deductible has been met, the insurance company will pick up the next 80%. You are responsible for the other 20%, but the most you will pay of it is $3500; afterwards, the insurance company picks up 100%.

3. Banking Your Initial Payment BEFORE Underwriting Approval - Now that we are living in the advanced technology age and exposed to tremendous information by the click of a mouse, insurance companies have the ability to complete the underwriting review withing 24 to 48 hours; unless medical records are requested. When the insurance companies debits your account before the underwriting review is complete, this ties up the applicant's money and the insurance company earns interest during the process. Don't get me wrong, you are required to supply your agent with banking information in order to electronically transmit your application to the insurance company, but the insurance company is NOT required to bank your money if the underwriter has not completed the review. Some companies do and some companies don't; ask your agent about the company's procedure concerning the initial payment.

4. Counter-Offers - As you may or may not know, counter-offers have the ability to increase your premium, increase coverage or decrease coverage. When an insurance company issues a policy with counter-offers that increase the premium, then the company has earned more money and yields more interest until the applicant requet the policy cancelled within the first 10-day look see period. You should make sure the company you select give you the opportunity to accept or decline the counter-offer BEFORE debiting your bank account.

5. Offering Pre-Packaged Plans ONLY - When the insurance company only offers pre-packaged plans, chances are you will pay for coverage you may not need. Doctor visit co-pays should be optional as well as dental, and vision. You should also have serval options for annual deductibles, lifetime maximum, and co-insurance options. In other words, you should be able to tailor the plan based on your needs to help maximize your premium dollars.

6. Network Availability - Insurance companies operate within networks. When it comes to PPO networks, they can be local or national. You should be able to discuss this with your agent, because the monthly premium for each network can vary. Sometimes the higher priced network is not the best network for your family. You also want to make sure a great number of hospitals, doctors and other medical facilities are within your selected network to prevent paying the higher out-of-network deductibles.

Trina Claiborne
770-262-6340
TrinaClaiborne@Comcast.net
www.CaterinaClaiborne.BestHealthAgent.com