by Guest » Tue Jan 20, 2009 11:23 am
My health insurance is through my employer but I'm seriously considering canceling health insurance since their rates are way to high. Can i cancel my health insurance anytime I need? or, there isn't anyway out of it? :(
Posted: Thu Apr 21, 2011 06:49 pm Post Subject: GROUP VS INDIVIDUAL PLANS
INDIVIDUAL PLANS ARE A LIST 30 TO 40 PERSENT CHEAPER BECOUSE REQUIERE U/W GROUP PLAN DO NOT REQUIRE U/W, THAT IS THE ONLY REASON, GROUP PLANS ARE MORE EXPENSIVE, NOW IF YOU HAVE A SERIOUS PREEXISTING CONDITION, YOU SHOULD THINK ABOUT CANCELING YOUR POLICY AND ALSO MOST OF EMPLOYER PAY 50% OF YOUR PREMIUN, MAKE SURE THAT THE AGENT THAT YOU PICK HAVE AND IDEA ABOUT INSURANCE MOST OF THEM DO NOT HAVE ANY IDEA ABOUT INSURANCE.
Posted: Fri Apr 22, 2011 04:53 am Post Subject:
Aside from your poor spelling, your understanding of group and individual premiums is entirely backwards. Group insurance is less expensive because the insurance company underwrites ONE GROUP -- which could include 1,000 individuals -- instead of underwriting 1,000 individuals.
Funny that you would believe that agents mostly have no idea about insurance. If we don't, who does?
Mostly your advice is that of a fool who has no understanding of insurance at all. Pity the fool.
Posted: Wed Jun 01, 2011 04:26 am Post Subject: OmbrtHhSMcPdUXRs
Cancelling plan.. Slap-up :)
Posted: Fri Jun 03, 2011 03:07 pm Post Subject: tCAQRoVlAcdqq
Cancelling plan.. Outstanding :)
Posted: Fri Jun 17, 2011 07:56 pm Post Subject: healthiness
I wonder why it costs so much to go to the hospital? Probably because everyone is forced to hold on to expensive insurance in giant groups which lets hospitals and doctors charge pretty much whatever they want and know there is no way an insurance company is going to complain. They have too much paperwork as it is, and are easily rich enough to pay the absurd hospital fees.
Hooray Amerikka!
Posted: Sat Jun 18, 2011 02:16 am Post Subject:
Your post is evidence that you have no idea how health insurance works. Hospitals and doctors, like plumbers and electricians, have different fees for different services.
Unlike customers of plumbers and electricians who must pay whatever the tradesman charges, however, insurance companies typically pay only 20 to 30 cents on the dollar (or less) compared to the charges billed by hospitals and doctors. This is mostly the result of HMOs and PPOs and their contracted rates for procedures and treatments. In early 2009, my orthopedic surgeon told me that he was paid the handsome amount of $75 by Anthem Blue Cross of California for his 5-hours of time in an operating room saving the leg of a person who was injured in a traffic collision. $15 per hour? Is that what a surgeon with almost 30 years of experience is worth these days?
If you paid a large hospital bill it was because you had no insurance, and your bill reflects the fact that insurance companies (including Medicare) are NOT paying "absurd hospital fees" -- they are hardly paying anything at all. But if the hospitals and doctors don't bill everyone the same amounts, they will be in danger of being accused of overbilling insurance companies.
Posted: Thu Nov 17, 2011 07:28 am Post Subject: insurance
can you get out of the group policy anytime you want to?
Posted: Thu Nov 17, 2011 08:37 am Post Subject:
There is one sure way . . . quit your job.
Other than that, the answer is probably yes. Unless it is an employer's self-funded plan. In that case, the plan document will control when you can exit the plan. You might have to wait until the next open enrollment period to disenroll. Talk to the HR department or benefits person for the answer.
Posted: Mon Nov 28, 2011 01:05 pm Post Subject:
Along with knowing the periods where you cannot cancel, only cancel your policy if you have arrangements to be covered with another healthcare insurance provider for the sake of your health costs, any lapse in coverage depending on how long the lapse was will charge you as well.
Posted: Mon Nov 28, 2011 01:07 pm Post Subject:
"Group insurance is less expensive because the insurance company underwrites ONE GROUP -- which could include 1,000 individuals -- instead of underwriting 1,000 individuals.
"
MaxHerr is right, administrative costs are much cheaper for large groups - like employers and universities - than for the individual - that's why most insurance is employer sponsored in the U.S.
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