3 Myths to Bust this Health Insurance Renewal Season

Alright, you're about to be in the thralls of your health insurance renewal if you're not already there. So with that being said, I want to arm you with three myths you can dispel to help make this season a positive renewal season. Myth number one, Insurance companies don't give you biometrics for free. If you're being told this by your insurance broker, don't believe it. You see with biometric screenings come false positives which equate into additional medical claims inside the health care system that are unnecessary. And your insurance company makes money administrating those medical claims. So if you're told this year your insurance company is going to give you biometrics for free, just know they're actually being paid for by your additional medical claims downstream. Myth number two, your health insurance carrier is the best choice because they have the best network discounts. If your broker is showing you a spreadsheet of insurance companies this renewal season and comparing one network discount to another, ask them this question. A discount off of what? Because if your insurance company is letting the healthcare system charge whatever they want, the discount means nothing. So this season, don't make your decision on your insurance company based on the size of the discount. And myth number three, your insurance company doesn't want to keep your business bad enough to reduce your rates. If your broker is telling you that your insurance company really wants to keep your business, so they've reduced the increase from 14% down to 6, just know they knew they were going to be extremely profitable at 6% anyway, so they thought they would try to give you a 14% increase to see if you would bite. Alright, I hope these tips help you make this a positive health insurance renewal. And if you have any questions, just shoot me a message below. And until next time, bear down, focus on the target and strike out the status quo.