The Costly Reality of Michigan Health Insurance Misconceptions
Available in a variety of Michigan health insurance plans, selecting the right policy leaves many consumers baffled and quite often with unsuitable policies or none at all. Shoppers, looking for the most affordable monthly premium, usually end up with medical coverage, garnering too many out-of-pocket costs. An inflating unemployment deficit and uninsured setbacks, coupled with skyrocketing hospital bills continue to plague Michigan’s financially distressed citizens.
Approximately, 47 percent of Americans don’t understand their health insurance or the difference between co-payment, deductible, and coinsurance. The problem is that consumers shopping for Michigan health insurance are unaware of what they’re buying. In the end, many are left to pay medical bills they thought their policy would cover.
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.
Insurance analysts share that consumers often misconstrue the terms of having health insurance to mean that everything is covered. In the long run, confusion about medical coverage proves to be costly. As was the case of Ms. Jones, the owner of a craft shop in Ann Arbor, failure to ask specific questions changed the course of several events. Her deductible to deliver her baby was more than she held in her savings account. She admits that she may have rethought facing parenting on her own.
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:
- Provides a comprehensive overview of each medical plan’s policies, defining low premiums with deductibles and coinsurance out-of-pocket costs.
- 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 more 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.
Tags: business, family, finance, Health, health and family, health and fitness, Health insurance, healthcare, insurance, medical, medicine, michigan, News, politics
News | Holly Bentz | 
October 22, 2009 12:56 pm
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