The truth: With the increasing health care costs, most of us often assume that health insurance is expensive. This doesn’t hold true to all. Health insurance can be affordable if you are qualified for a subsidy from the federal government. It is also inexpensive if you don’t have pre-existing health conditions. Aside from that, there are also discounts that we offer for you to qualify in to reduce your premiums.
Myth: Premiums are increasing because you’re spending way too much on advertising.
The truth: Frankly speaking, we don’t charge higher premiums to cover our advertising costs even if we wanted to because that is against the law. The federal government requires insurers that for every premium dollar, 80 cents should go to paying the medical costs of our policyholders. The remaining 20 cents goes to the daily operations of our company. With that, rising premiums is only a result of rising health care costs.
Myth: Insurers make money when they deny insurance claims.
The truth: Financially speaking, insurers are better off when their policyholders are healthy. Thus, we encourage our customers to regularly visit their doctors and maintain good health. And when you get ill, we want you to get cared for at the right time for an affordable price.
Wellness and disease prevention are important for good health. And that’s crucial for the insurance industry to flourish. That is why insurers cover the total costs of regular physical exams.
However, we do not view our mission in financial terms. We want you to get affordable and quality health care whenever and wherever you need it. This way, everyone wins: consumers, doctors, as well us insurers.
Myth: Stockholders profit from the customers’ bad health.
The truth: The best way to control health care cost is to help policyholders find ways to improve or maintain health and wellness. When we all work together to save on health care expenses, insurers don’t have to increase rates to cover medical bills. Thus, healthier customers are a win-win.
Health insurance is a complex industry. And it’s easy to believe things that we hear or read in both the news and social media. We hope that by laying these myths out for you that we helped make sense of the things you may have thought is true.
Sungate Insurance wants you to get the right coverage you need for your health. We offer health insurance for a reasonable price. Get a free quote from us by clicking here. Talk to one of our agents today, call us at (407) 878-7979 or visit us at our office.