FAQ
Frequently Asked Questions
Question:
-Can I get a better insurance rate or quote from an insurance agent, from the insurance carrier, or from another website?
Answer:
No. The health insurance rates are based on what is determined by the health insurance carrier underwriting. An insurance agent or a health insurance website will only present to you the best low cost quote or insurance rate. The final rates will be determined after an application has been submitted to the health insurance carrier and when approved by carrier underwriting. Rates are not determined by an agent. So it does not matter whether you go to an agent or through an online website, the rates will be the same. Some people may think that they can skip to the carrier and go direct to save money. This is not the case. The carrier may actually make more money off of the consumer because they are charging the same rate they would charge if you went through a website (such as MyIndividual.com) or an agent. If you use an individual health insurance website such as MyIndividual.com, you should follow through the website and apply for coverage either by direct online enrollment or by MyIndividual’s applications by mail. This way the MyIndividual.com will get credit for the help it has provided to any applicants. The rates will be just as good as if you went to talk with an insurance agent. The only problem is the agent is not as efficient as using a website especially when enrolling online for individual health insurance coverage. In this case you may be approved in a much quicker and efficient manner. Also, when using MyIndividual.com the consumer does not have to worry about a 1 carrier biased agent who is trying to collect bonuses and not helping to find the best benefits and rates for the consumer. These are some of many reasons why MyIndividual.com was created.
Question:
-What is the best individual health insurance carrier in Texas?
Answer:
There are many high quality health insurance carriers in Texas. There are many great Texas health insurance plans which can be offered to Texas residents. MyIndividual.com offers only “A” rated Texas health insurance carriers to individuals in need to Texas health insurance quotes.
Question:
-I have a small business and have employees who want health insurance benefits. The cost of small business group health insurance is too high. What can I do for these employees and/ or their dependents?
Answer:
First of all don’t think you have to offer them cheap health insurance. One thing that I find very common with small group employers who want to offer small group health insurance coverage is they decide to pay an extra amount of money each month to their employees. Maybe it is the amount in which they would not mind paying for insurance, but insurance just has too high of a cost. So, the employees use this money as they want. The main idea here is that they can go out and pursue locating an individual health insurance plan for their family. This funds the employer pays the employee may not be enough to pay a premium but it may help them to be able to protect their family with some sort of health insurance coverage. Remember though, these funds will be taxable as income.
Also, many times there are health insurance plans which have affordable rates when quoting for individual health insurance coverage for yourself, a dependent, or a family verses paying the premiums for a small group plan. The reason for this is if you have a small group of five people and one person has a high dollar claim of any kind, the premium from the group of five people must be very high to offset the claim dollars paid out. These premiums must also be able to pay the operating costs associated with setting this group up with the health insurance plan. Health insurance carriers will not be able to survive if they don’t profit or even breakeven. When quoting an individual health insurance plan, the individual can be declined. Unlike the small group, if the carrier determines upon the individual applying for coverage that this applicant has too many medical conditions in which they can insure the risk of a claim, then the insurance carrier may decline to offer coverage. On the other hand, if the individual applies for coverage and the individual health insurance carrier underwriting approves this applicant for coverage, the insurance rate or premium can be in many cases much less in cost than the small group health insurance. This is also the case when quoting on dependents who many employers do not pay for their coverage. In this case, many times individual health insurance coverage cost less and can save thousands in insurance premium dollars.
Question:
-Why do I need medical or dental insurance or coverage? Why do I need health insurance? I am young and healthy.
Answer:
If I knew the future, then I could tell you if you did or didn’t need insurance coverage. What I mean by this is what happens if you are in an auto accident which is not your fault. You are rushed to the hospital and you were hit by someone who has no insurance. You are in trouble! At this point I hope you have health insurance coverage, meaning medical and dental insurance coverage. This way if you are in intensive care for a week and in the hospital for a month you don’t owe $300,000. With insurance you may have only been responsible for $1,000-10,000 depending on the health insurance plan you selected. Maybe you need some dental work for those teeth that were chipped in the accident. This kind of thing happens all the time! Having insurance saves your livelihood!