Our company is coming up to its renewal period Sept. 1st and all though we have a broker who we like, it’s hard not to want to get other quotes from other people that think they can beat our current provider. What effects will I cause by getting several quotes from difference brokers, or sales people?
Small group health insurance rates in Washington are determined by the insurance carrier and published with the Department of Insurance and no broker can adjust these published rates. Any adjustment to the Modified Community Rate is determined by the insurance company, not your insurance broker. Washington has a 3.75 rate adjustment factor, which means that the insurance carrier can charge you 3.75 times the amount of the community rate if your group has a high claims history or certain pre-existing medical conditions. So, if you request quotes from other brokers for the same insurance company and plan, such as Premera Blue Cross, your rates will be the same. The advantage in requesting quotes from other brokers, aside from keeping your broker honest, would be to look at or consider plan options that your current broker does not offer. If you broker is a licensed agent for multiple insurance carriers then he/she can assist you in considering these other options.
If you request quotes online, be aware that many websites will sell your information to multiple brokers in your area and you will receive many calls. This isn’t necessarily a bad thing if you are looking for multiple quotes.
Answer by moderator — June 23, 2009 @ 10:42 pm
CURRENTLY: MEDICARE B DEDUCTIBLE 290.00 MEDICARE D 295.00 DEDUCTIBLE (2700.00 BEFORE THE GAP THEN GET INTO REAL TROUBLE) MONTHLY PREMIUM 27.80 WOULD LIKE TO GET BACK TO FORMER MEDICARE INSURANCE (WHICH EMPLOYER SAID I COULD NOT HAVE ANYMORE SO GOT STUCK WITH SECURE HORIZENS AS PRIMARY INSURANCE) NOW I PAY A COINSURANCE OF 50.00 PER PRESCRIPTION BEFORE I PAID 90.00 PER PRESCRIPTION WITH NO MEDICARE D AND NO DOUGHNUT HOLE. AFTER I USE 2,700.00 IN COSTS OF MEDS, I AM OUT OF LUCK ( NORMALLY YEARLY COST OF MEDS IS AROUND 4,500.00. IS THERE AN INSURANCE WHERE I HAVE MEDICARE WITH DRUG COVERAGE AND DEAL WITH MEDICARE NOT SOME OTHER INSURANCE COMPANY?
Comment by JEAN HUPFEL — June 29, 2009 @ 5:05 pm