Michigan Health Insurance Proves Costly Errs If Not Understood
Despite the assortment of Michigan health insurance plans, baffled consumers tend to buy unsuitable policies or forgo coverage, altogether. Many find that affordable health coverage tends to fall short on premiums and high on out-of-pocket expenses. Quite often, the problem stems from not knowing the difference between deductibles and coinsurance. With the state of Michigan’s growing unemployment rate and uninsured woos, hospital bills continue to plague cash strapped citizens.
Merely 50 percent of Americans, who have medical insurance, admitted that they were perplexed by what their health insurance covered. Many admitted to not understanding the difference between a deductible, coinsurance, and co-payment. As many other policyholders consider the verbiage of insurance policies to be so incomprehensible, they generally end up with medical coverage that costs exorbitant out-of-pocket expenses.
Being pregnant for the first time, Wanda Jones 32, was overwhelmed with many emotions when she learned that her low-premium health plan did not completely cover the cost of her awaited arrival. Upon the purchase of medical coverage for her small business, she had the misconception that her $2000 deductible would include the entire cost of her pregnancy. Her joy quickly turned into stress when she discovered that she was responsible for an extra $4000 for the delivery.
Market research shows that misconceptions about medical coverage are prevalent. “I find insurance literature too difficult to understand,” states Ms. Jones. Facing childbirth as a single parent Ms. Jones, a 32-year old proprietor of a craft store based in Ann Arbor, said that deductible cost more than her total savings account. “My decision to raise a child on my own would have been different. I should have asked for more information about my insurance options,” she concludes.”
Mike Novelli, president of MichiganHealthandLife.com finds that unethical insurance brokers vend Michigan health insurance plans without disclosing all the details of the policies. Mr. Novelli recommends obtaining quotes from an insurance broker, who has an affiliation with a variety of Michigan health insurance plans. He also offers advice on avoiding unscrupulous brokers, “Shop for medical coverage from an ethical and experienced agent, who exudes the following qualities:
- Completely articulates the terms of the policy, emphasizing the difference between low cost premiums deductibles and other coinsurance out-of-pocket expenses.
- Never charges an application fee. (There is no cost to obtain a quote for Michigan health insurance).
- Offers professional, resourceful advice free of pushy sales tactics.
For additional consumer information regarding medical coverage in Michigan, one of the best resources, featuring Michigan health insurance and free Michigan medical quotes is Michigan Health & Life.
