Insurance “Red Flags” — Buying Health Insurance Online

Recently, I helped a couple in their 60’s navigate through the maze of health insurance options.  They are currently on COBRA, but they are moving to Alabama shortly (from Atlanta).   After  their COBRA coverage expires, they will still have a couple of years before they are eligible for Medicare.  A couple of fairly serious pre-existing conditions will make it challenging to find adequate coverage in the individual market.  So, I helped them determine what options they would have for State-Guaranteed Coverage in case it would be needed.

While searching Alabama’s DOI site, I discovered the following consumer caveats:

INSURANCE “RED FLAGS”

• Don’t submit to high-pressure tactics. If you are being overwhelmed with offers from a particular group or agent that make you uncomfortable or aggravated, trust your instincts and steer clear.
• Do your research. Scam artists may try to convince you to change coverage quickly without giving you the opportunity to do adequate research.
• Seek advice. If a particular policy requires a large sum deposit in an account, ask a third party — such as a reputable local insurance agent, an accountant or financial advisor — for advice.
• If it seems too good to be true, it probably is!

This list of “red flags” is certainly appropriate, especially for people attempting to shop for health insurance online.   Their are many agencies that train their agents  to “close” the sale on the first phone call.  It is always best to take your time, consider your options, and make sure all your questions are answered by a knowledgeable, experienced agent. 

www.insuranceAdv.com

Greg Sanders  678-236-1600