As health reform continues to steadily take shape into what may be in 2014, time continues to go pass by. With nearly 47 million lives uninsured, clearly no one has all of the correct answers for the health insurance industry. Major medical is seemingly becoming harder and harder to not only qualify for, but also afford, and it has opened the door for an ever-evolving product.
Limited medical indemnity plans have slowly begun to gain momentum as the economy still slumps and millions are still job-less. By offering guaranteed-acceptance, next-day coverage, and affordable rates, one doesn’t have to venture far from product literature to be convinced that limited medical may be the answer so many have yet to even hear of.
Being vaguely marketed to this point is not a mistake. Many insurance agents lack the understanding of how limited medical plans will help the millions that are uninsured. In the “big picture” it is simple to understand why major medical is desired by everyone, but in reality it is the elephant in the room. With health care reform forcing rate hikes and stricter qualifying guidelines, major medical options are becoming more of a hindrance to those seeking coverage than a resolution.
The first thing insurance agents need to understand is that these plans were geared towards those who are uninsurable, not to compete with benefits major medical programs offer. If that were the case there would be no need for reform. It is about addressing the needs of 47 million uninsured lives and focusing on those looking to save further on major medical premiums.
It has been made clear that the current system does not work for everyone. Millions out there are looking for coverage that saves something. Limited medical plans won’t provide that extensive catastrophic coverage, but what it does provide is: co-pays for wellness and office visits, accident coverage, and hospital benefits amongst many other benefits. All of which would come out of every uninsured and possibly insured’s pockets on a daily basis.
Remember, if an uninsured goes to the doctor office they would be responsible for 100% of the cost. Need a wellness visit? That would be 100% their responsibility as well, along with every other health care need. Limited medical plans may not provide first and last dollar coverage on every procedure, but what it does do a great job at is by providing that day-to-day coverage that prevents illnesses and injuries from progressing to that catastrophic level.
Why should insurance brokers only swing for the major medical market when so many uninsured individuals and families simply need basic coverage? Success isn’t built around all or nothing ideals in the insurance world. The flexibility to offer a limited medical indemnity plan may be able to discern one broker from the next.
Simply put, the difference between health and sickness is the capability of regularly attending a physician. The uninsured are uninsured for a reason, they have fallen through the cracks because the cracks are there. The insurance brokers and agents who can find those gaps and cracks in the industry by providing a guaranteed, yet affordable option, will be the ones who rise above the rest as the economy continues to rebound.
Limited medical indemnity plans have slowly begun to gain momentum as the economy still slumps and millions are still job-less. By offering guaranteed-acceptance, next-day coverage, and affordable rates, one doesn’t have to venture far from product literature to be convinced that limited medical may be the answer so many have yet to even hear of.
Being vaguely marketed to this point is not a mistake. Many insurance agents lack the understanding of how limited medical plans will help the millions that are uninsured. In the “big picture” it is simple to understand why major medical is desired by everyone, but in reality it is the elephant in the room. With health care reform forcing rate hikes and stricter qualifying guidelines, major medical options are becoming more of a hindrance to those seeking coverage than a resolution.
The first thing insurance agents need to understand is that these plans were geared towards those who are uninsurable, not to compete with benefits major medical programs offer. If that were the case there would be no need for reform. It is about addressing the needs of 47 million uninsured lives and focusing on those looking to save further on major medical premiums.
It has been made clear that the current system does not work for everyone. Millions out there are looking for coverage that saves something. Limited medical plans won’t provide that extensive catastrophic coverage, but what it does provide is: co-pays for wellness and office visits, accident coverage, and hospital benefits amongst many other benefits. All of which would come out of every uninsured and possibly insured’s pockets on a daily basis.
Remember, if an uninsured goes to the doctor office they would be responsible for 100% of the cost. Need a wellness visit? That would be 100% their responsibility as well, along with every other health care need. Limited medical plans may not provide first and last dollar coverage on every procedure, but what it does do a great job at is by providing that day-to-day coverage that prevents illnesses and injuries from progressing to that catastrophic level.
Why should insurance brokers only swing for the major medical market when so many uninsured individuals and families simply need basic coverage? Success isn’t built around all or nothing ideals in the insurance world. The flexibility to offer a limited medical indemnity plan may be able to discern one broker from the next.
Simply put, the difference between health and sickness is the capability of regularly attending a physician. The uninsured are uninsured for a reason, they have fallen through the cracks because the cracks are there. The insurance brokers and agents who can find those gaps and cracks in the industry by providing a guaranteed, yet affordable option, will be the ones who rise above the rest as the economy continues to rebound.
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