I’m Richard Haskell, and I’ve been selling Health Insurance for the last 26 years here in Dallas, Texas. I am sad to report that most of the Texas Consumers have been involved in purchasing the Health Insurance that the Agent wants to sell, rather than what is best for themselves and their families.
First of all, most Agents sell Low Deductible Plans Hospital Insurance Plans, meaning they design policies with $500 to $2500 Deductibles. The Agents make the claim that Low Deductible Coverage means “better” coverage. Nothing could be further from the Truth! The American Hospital Association, tracking over 100 years of the American Claim Experience, has stated that over the last Century, only two out of 100 Americans ever end up staying overnight in the Hospital in their entire lifetime. Only TWO out of ONE HUNDRED!
Why, then, to Agents push the Low Deductible Plans with the High Premiums? The answer is quite simple, the higher the premium that you pay, the more commission the Agent earns. They sell what is good for them, and, ultimately, bad for you.
Next, all of you who have purchased Health Insurance in the last 10 years have experienced what is known as the “bait and switch” tactic of many Texas Health Insurers. You start off with Low Deductibles, Low Premiums, and Low Co-pays, but, in the fine print, you read that the Rates are only good for 12 months. After 12 months, the typical scenario is that these Carriers raise rates over the next three years until you are paying 300% more per month than you originally bargained for! Why would a Carrier run off new business with these exorbitant second and third year rate increases? The answer is quite simple: it reduces the chances of them ever having to pay any claims! They can invest your premium dollars for the first year they retain your hard earned dollars, and earn 10% or higher in the markets, and then “bust you out” with high premiums the second and third year so that the risk of having to pay out any claims are very low indeed. They Win, and you lose, Big Time!!!
Is there a way to beat these unscrupulous Carriers at their own game? You bet there is. The way is the purchase your Health the Right Way, from the Right Carrier!
What are the Do’s and Don’ts of buying Health Insurance in today’s Market?
Let’s start with the Don’ts:
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Don’t buy a Plan with less than a $3,500 Deductible, and saving your Money until you can Purchase a Plan with a $10,000 or Higher
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Don’t Buy a Plan with a $10 or $20 or even a $50 co-pay. You will end up paying $100 plus per month for a co-pay benefit that you will seldom, if ever use.
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Don’t buy a Plan with less than a 3 Year Rate Guarantee, and the opportunity for a Rate Reduction if you don’t have any Major Claims.
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Don’t buy a Discount Plan that gives only Network discounts in return for cash payment, and has no Real Insurance to offset catastrophic losses that might occur.
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Don’t buy a Plan from less than an A rated Carrier.
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Don’t buy a Plan whose rates will be 3xs Higher Per month in Two to Three Years!
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Don’t be shy about negotiating with Hospitals about entering with a “waiver of deductible.” With all the free benefits hospitals have to give away today to people without insurance at all, who just show up at the hospital door with no insurance whatsoever, and, in some cases, with false identification, the Hospitals will greet with open arms a Patient who has valid ID and valid Insurance from an A rated Carrier like Time Insurance or Blue Cross Blue Shield of Texas. Many times they will waive your deductible or let you pay it out rather than lose a sure fire $250K Plus claim payment from a reputable A rated Carriers like Blue Cross Blue Shield of Texas, or Time Insurance.
Now, How Should You Design Your New Health Plan?
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Buy from an Agent who designs a Plan with your best interest at Heart.
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Buy a High Deductible Plan ($3,500 to $10,000). Most of the time Hospitals will waive or negotiate with you a payment plan. Just ask! Besides, only 2 out of 100 Americans every end up overnight in a hospital anywhere.
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Buy a Three Year Rate Guarantee, with a Rate Reduction possible if your claims don’t rise above your selected deducible. (The Plan you just purchased will go down 10% per year for six years, or 60%, if your claims never penetrate the deductible.
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Stay away from $10, $20, and $30 co-pays unless you are the Mother of a small infant, and have to see the Doctor once a week. It’s just a waste of your hard earned money.
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Join a good PPO like PHCS or Blue Cross Blue Shield of Texas (You already have if you’re doing business with me.) As a member of PHCS Network, you will receive Office Visits, and Lab work at deep discounts.
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Refer all other Agents, and their products to me for an honest evaluation. If they truly meet the above guidelines, I’ll be the first to recommend them to you, and will start selling their products as well. But, so far, Time is the only carrier to come to the market with the unbeatable Three Year Rate Guarantee!
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Don’t rush into an employer sponsored health Plan. If you go on claim with an Employer Plan, you will be in bondage to the Company Store until you have recovered from sickness or accident, and that could take years. Own your own plan, don’t rent from an employer. Have them give you more money to pay for your plan!!!
The three best health insurance carriers in the market place today are:
 Blue Cross Blue Shield of Texas
 Assurant Health (formerly known as Time Insurance)
 Unicare
The best buy for dental and vision is:
 DPBrokers
Feel free to contact me to use over 30 years of experience to help you with the “intelligent design” of your new health insurance plan.
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