Dallas Health Insurance

Not all Health Insurance Agents are Created Equal

Health Insurance Specialist — Thu, 19 Jul 2007 13:40:00 GMT

Danger, not all health insurance Agents are created equal. Finding the right policy, coverage, company and agent can be riddled with frustration.

In every industry their are may types of people. The health insurance industry is the same. If you have ever filled out an internet request for a health insurance quote then you have probably been flooded by several types of health insurance agents. There are the "boiler room agents", the "one plan" agent, the "cheaper is better" agent, and the "consultive" agents. It can be helpful to understand each of these types and how they effect your health insurance decision making process.

The "boiler room" agent - usually an agent in a call center responding to internet request for information. He/She is judged by their employer on the number of call made and the number of sales made. This becomes the driving force for their advice to you. If you do not have a good understanding of health insurance you may be pressured into a policy that may or may not be the best plan for your situation.

The "one plan" agent - is normally a captive agent that exclusively represents only one company. This in it self is not bad but it too can lead an agent to make recommendation based on their own selfish interest rather than you unique situation. Many of the plans from captive agents are limited benefit plans or hospitalization plans rather than major medical. In my experience this is seldom explained to the you the customer until you get your policy in the mail. By that time it becomes such a hassle to get your premium money back and cancel the policy that most never make the desired change.

The "cheaper is better" agent - can be an independent agent that represents several companies. However, they become conditioned to selling rather than listening to your needs. This agent ofter pitches the cheapest plan because it sells. The approach is the problem not the product. Most of us when we shop we are price aware. If price is the only thing driving our decision then we will quickly fall prey to "cheaper is better" only to regret our decision at the time of a claim.

The last type is the "consultive" agent - I favor this type because it focuses on your need. This agent usually asks many questions and spends more time listening to your answers. The positive side is that you usually end up with a health insurance plan that fits your needs and your budget. The negative side is that the process might take longer and might require more involvement on your part. This can be frustrating because most of us have been conditioned with fast food mentality.

Generic Drugs: What Are They?

Health Insurance Specialist — Sun, 10 Jun 2007 02:38:00 GMT

A generic drug is identical, or bioequivalent to a brand name drug in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use. Although generic drugs are chemically identical to their branded counterparts, they are typically sold at substantial discounts from the branded price. According to the Congressional Budget Office, generic drugs save consumers an estimated $8 to $10 billion a year at retail pharmacies. Even more billions are saved when hospitals use generics.

Drug companies must submit an abbreviated new drug application (ANDA) for approval to market a generic product. The Drug Price Competition and Patent Term Restoration Act of 1984, more commonly known as the Hatch-Waxman Act, made ANDAs possible by creating a compromise in the drug industry. Generic drug companies gained greater access to the market for prescription drugs, and innovator companies gained restoration of patent life of their products lost during FDA's approval process.

New drugs, like other new products, are developed under patent protection. The patent protects the investment in the drug's development by giving the company the sole right to sell the drug while the patent is in effect. When patents or other periods of exclusivity expire, manufacturers can apply to the FDA to sell generic versions. The ANDA process does not require the drug sponsor to repeat costly animal and clinical research on ingredients or dosage forms already approved for safety and effectiveness. This applies to drugs first marketed after 1962.

Health professionals and consumers can be assured that FDA approved generic drugs have met the same rigid standards as the innovator drug. To gain FDA approval, a generic drug must:

contain the same active ingredients as the innovator drug(inactive ingredients may vary)
be identical in strength, dosage form, and route of administration
have the same use indications
be bioequivalent
meet the same batch requirements for identity, strength, purity, and quality
be manufactured under the same strict standards of FDA's good manufacturing practice regulations required for innovator products

For more information on the safety and effectiveness of generic drugs, please see:

FDA Generic Drugs Final Rule and Initiative
Consumer Education: Generic Drugs
Generic Competition and Drug Prices (4/4/2006)
FDA White Paper: New FDA Initiative on "Improving Access to Generic Drugs." (6/12/2003).
FDA White Paper: Generic Drug Prices in the U.S. Are Lower Than Drug Prices in Canada. (11/2003)
FDA and the Drug Development Process: How the Agency Ensures that Drugs are Safe and Effective (2/2002) [HTML] or [PDF]. Spanish version: [HTML] or [PDF]
FDA Ensures Equivalence of Generic Drugs. From the 1999 edition of "From Test Tube to Patient: Improving health through human drugs."
Generic Drugs: Safe. Effective. FDA Approved. Public service announcements promoting the safety and effectiveness of generic drugs.
- Six Public Service Announcements

Warnings About Finding Health Insurance over the Internet

Health Insurance Specialist — Thu, 24 May 2007 14:38:00 GMT

Here is some information that most health insurance agents and companies will not tell you about the internet, "Not every site is what it seems." For example, most people do not realize that filling out a quote might prompt 5 to 10 calls from insurance companies and agents. It will probably result in an email box full of insurance fodder, and it could go on for months.

The Down Side - Here is what typically happens when a person searches for health insurance over the internet. They type in some key word into the search engine like dallas health insurance, dallas health quote, or some related term, then they get the results. The advertising might draw them in (this is usually a company that bids on the right to show up on this page when you type in the specific words) The companies that advertise get the most amount of visitors to their site. The rest of us are sitting in Yahoo, Google, MSN and other search engines hoping that you will find us. If you see us listed under the search results it is because we have slaved over our site to try to gain some sort of placement or we just got lucky that day. When you decide on the one to click you are taken to a landing page. This is the place on the web site that is designed to get you to fill out the quote. Now this is where the circus begins. If the site is not an agent site then your name will probably be sold to up to 10 agents. This is why you might get calls from several agents.

The Up Side - The internet provides a way for you to get instant information and quotes from multiple companies all for an investment of 60 seconds. If you go to an agents site that works with multimple companies than you can get the best overview of what is available in the market place with out getting 10 calls.

Select
1. A local Texas Agent
2. An Agent that represents multiple health insurance companies.
3. An Agent that has the ability to let you run your own quote.
4. An Agent the specilizes in health insurance - not homeowners, liability,or automobile insurance

http://www.dallashealthquote.com

Captive Agent or Independent Agent

Health Insurance Specialist — Wed, 23 May 2007 17:29:00 GMT

Independent or Captive? Most people that have an insurance license understand the difference between the two and how it effects the customer. However, if you are a person filling out a form on the internet and start getting calls from people you might not know or understand why knowing the difference matters.

A Captive Agent - An agent that represents ONE company. This means they can only sell plans from that company and therefore will try to tell you only the benefits of their plan over every other plan. The problem, in my opinion with a captive agent is that they can not be unbiased because they must sell you the plan(s) they can offer.

Independent Agent - I prefer this model because it allows the customer to choose from multiple companies and multiple plans. The market in insurance is always changing. One company may raise their rates and then another will lower the rates or add additional benefits to a plan. A good independent agent knows the market and can make recommendations based on the current market condition. The potential problem with this approach is that if an agent does not keep up on the market they might only write business for a few select companies that they feel comfortable selling. Anther potential problem is that they may favor companies that pay them the most.

Specialist vs Generalist - Some independent agents sell homeowners, auto, liability, and health insurance. It is hard to stay up on the changes in just health insurance let alone all the other kinds of insurance. If you agent sells car, homeowners and liability chances are he/she is a generalist. How can one human know all the homeowners issues and then be expected to know another 30 policies from a health insurance company? I learned the hard way to ask hard question of my agent. Make sure your health insurance agent is a specialist focused only on health insurance. This means that they must make a living dealing with health insurance on a daily basis.

If I can assist in any way let me know.
Brent
http://www.dallashealthquote.com
http://www.dentonhealthinsurance.com

Small Group Health or Individual Health Insurance

Health Insurance Specialist — Sat, 19 May 2007 16:11:00 GMT

Many people ask me about the difference between Group Health Insurance and an Individual Health Insurance plan. Many small business owners are in situation that would allow them to purchase either. In the state of Texas there is a difference between Group health plans and individual health plans.

Group plans are usually more expensive but often have higher levels of coverage than Individual plans. The usually offer the traditional maternity coverage. Group plans allow for group dental and group life coverage. In the state of Texas a group can exist when you have 2 employees. These employees must be reported on your Texas workforce commission report. Group plans usually require the employer to contribute to every employees cost and they oftern have some participation requirements, meaning that at least 75% of eligible employees must take the coverage.

List bills are another way for the employer to assist employees with their health insurance needs. They can not directly pay any portion of the premium but they can agree to payroll deduct the premium amount. Since 65% of Americans get their health insurance from work this becomes a good option.

Individual Plans If you have any pre-existing conditions, most individual plans will either rider them out or exclude the condition a;together. Some conditions are even cause for decline. These conditions vary based on each carriers (companies) underwriting requirements. Maternity coverage is expensive and often not offered with individual coverage or it is very limited. The cost is usually significantly lower on family coverage over group health plans.

Call me if I you have any questions.
Brent Trice
966-877-4156
214-504-2211
http://www.dallashealthquote.com

Dental Insurance vs. Dental Plans

Health Insurance Specialist — Tue, 15 May 2007 17:07:00 GMT

What are some of the major differences between dental insurance and discount dental plans?

Some of the characteristics of Dental Insurance include:

Limitations, deductibles and annual maximums

Waiting periods for major dental procedures

Tedious and time-consuming written claims process

Limitations/exclusions on pre-existing conditions

Certain dental specialties, such as cosmetic dentistry, are
rarely covered

Consumers pay expensive monthly premiums for defined coverage

Typically inaccessible to individuals and families unless provided by their employer

Some of the characteristics of Discount Dental Plans include:

No annual limits, members enjoy discounts on most dental services all year long

Most plans activate within 1 - 3 business days

No tiresome paperwork hassles, plan membership card is presented for discounts on most dental services

No health restrictions

Select plans include discounts on dental specialties, including cosmetic dentistry and orthodontics

Consumers pay affordable membership fees for access to a network of providers offering discounts on most dental procedures

Available directly to individuals, families, businesses and groups

In short, discount dental plans are an affordable and easy-to-use alternative to dental insurance, and offer plan members significant savings on most dental procedures. However, every situation is unique and must be looked at.

Click here to learn more about the differences between dental insurance and discount dental plans, and how these differences can affect you.

Domestic Partnerships - Health Insurance - Texas

Health Insurance Specialist — Tue, 15 May 2007 16:59:00 GMT

I have several clients that have moved to Dallas from other state that have required insurance companies to cover or at least offer coverage for domestic partnerships. In the state of Texas there are no such requirements. I spent a few moments calling several of my insurance carriers to try and determine their position on domestic partnerships. The each told me the same thing. "At this time it is not offered in Texas" Each of them suggested 2 separate policies to cover each person. If you would like to know the specifics of each company then please call.

Brent Trice
866-877-4156
940-594-8040

www.dallashealthquote.com

Short Term Medical Insurance - Warnings

Health Insurance Specialist — Mon, 14 May 2007 13:33:00 GMT

Short Term Medical... A Warning

It has a great sound but can lead to serious problems. You say, "I only need coverage until I get a job, or for a short time." The problem with short term medical is it is short term even if you develop an illness that requires long term coverage. In Texas short term Medical is not guaranteed renewable. By this I mean the company will terminate coverage at a specified time (6 months or 12 months)and in most cases can not be converted to permanent coverage. This doesn't sound like a problem unless you develop a condition, have an accident, don't find a job, or need to continue coverage longer than anticipated. In my opinion, Short Term Medical Plans are a waste of money and a serious risk to most consumers. Those that need the coverage will loose it and those that don't need it...well the are protected for a time.

The better choice... Major Medical

Compare the coverage and cost of a traditional major medical plan against a short term plan. You will find the cost are not that different, yet the risk are astronomical. I advise most of my client to take a major medical plan even if the only need a plan for a short period of time. I remind them of the risk with short term medical plans. I also remind them that is the stop paying for a plan the insurance company will surely stop the coverage!!!!

Brent Trice
http://www.DallasLifeAndHealth.com
http://www.DentonHealthQuote.com

Regular Premium Increase or A Rate Guarantee

Health Insurance Specialist — Thu, 10 May 2007 04:27:00 GMT

Almost everyone receives some type of increase in their health insurance premium. This usually become the incentive to re-shop that insurance. Many companies practice what I call, premium trolling. This is where they offer a low premium to entice customers to sign up and then every 6 months raise the premium. As an agent this drives me crazy and I have complained to the companies that I perceive are doing this. This is the primary reason you need an agent that represents more than one company. I tell most of my customers that this might happen to them so if they become unhappy with their insurance company, for any reason, let me know and we can re-shop the market.

Health companies are getting smarter. Many of them are offering rate guarantees for individual policies. This can be from 24 months to 36 months. Some charge an extra premium for this but it is usually worth it. Just the time that it takes to go through the underwriting process can be a pain. This change can even cause the change of a doctor.

Health issues limit your choices. One of the reason people have health insurance is to control the risk that comes with a sickness, hospitalization or accident. If this happens to you then your chances of getting good rates, or even coverage become limited. This often translates to "your stuck with rate increases and your current coverage for a while."

If you live in Texas and are interested in knowing more about rate guarantees give me a call. 940-594-8040 or toll free at 877-866-4156

Brent Trice
www.TexasHealthInsurance411.com