Becoming overly complacent with your health insurance or health insurance company can only lead to one thing, paying more than necessary for your insurance. There is nothing stopping you from switching companies every year (well there is one thing, but we will get to that) if you are able to save a few bucks in the process. Sometimes you can’t, but it is a process that should be explored every year.
I Know a Guy
Those of you who currently work with an independant insurance agent, who provides free yearly renewal evaluations (like myself), already know the importance of shopping your health insurance every year. Those of you who don’t, and bought your insurance directly from a company or a self-serve online site, will eventually be over-paying every year you don’t have someone look at your health insurance.
Most of the time the only thing you have to lose when deciding on switching your health insurance is the time it takes you to fill out an application. For those that have filled out an individual health insurance application know it’s rarely classified as a fun experience. However saving money is usually considered to be something people enjoy. So I guess in a semi-twisted, roundabout way filling out a health insurance application is fun.
What’s Stopping You?
So all of this sounds great, you are ready to start managing your health insurance costs more efficiently. There is just one thing you should know before you take that last step, that is the two dirty words, medical underwriting or pre-exisiting conditions. If you developed an “uninsurable condition” after you bought your original individual health insurance policy your options may be limited when it comes to changing companies. At least until 2014, insurance companies reserve the right to deny you coverage based on your medical history. Don’t worry though, your independent agent (that’s me again) will easily be able to identify any potential setbacks.
Don’t Ever Do That, I Mean It
Imagine your mother using your full name and giving you that tone. You know, the one you got after trying to play homerun derby in the living room on a raining day. When attempting to switch companies, you NEVER want to cancel any existing coverage before you have received written approval from your new company. I’m serious, don’t do it.
Now that some of your fears have been erased, are you ready to become a health insurance swinger?