| Are you Paying More for Excess Coverage? Although healthcare costs continue to spiral, some Healthcare marketers have exploited the consumer's Peace of Mind by promoting mega-million Lifetime Maximums. Most of todays Medical plans offer $3-8 million, and consumers are seldom aware their premiums are heavily loaded for these higher and often unnecessary options. Published results of a 2003 actuarial study on Healthcare Claim Amounts & Annual Frequency revealed the following:
The "cost methodology" defines the insured's out-of-pocket liability. That's why the services of a Professional Healthcare Advocate should be part of any Affordable & Comprehensive Medical Plan. |
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Healthcare Premium Rate Comparison
(Male/Female) Preferred, as of 12/31/05
Basic Hosp./Surg. a Traditional b Major Medical c High Deductible d
(w/ Options) Major Medical w/ HSA Major Medical
$50,000 Benefit $500 Ded. $3000 Ded. $50,000 Ded.
Age 0-18 $ 47 $136 $ 33 $ 22
Age 20 $ 66/$ 84 $190/$199 $ 60/$ 60 $ 17/$ 16
Age 30 $ 75/$105 $195/$237 $ 62/$ 71 $ 26/$ 24
Age 35 $ 81/$119 $208/$270 $ 71/$ 87 $ 32/$ 30
Age 40 $ 95/$126 $242/$311 $ 87/$107 $ 49/$ 37
Age 45 $110/$142 $287/$348 $105/$124 $ 49/$ 64
Age 50 $135/$149 $347/$383 $135/$149 $ 69/$ 64
Age 55 $152/$152 $441/$420 $161/$173 $ 98/$ 90
Age 60 $203/$208 $542/$460 $186/$193 $172/$158
Deductible a. NO DEDUCTIBLE b. $250/$500/1000 c. $1,500-$5,000 d. $10,000 - $50,000
Hosp./Surg. - $15k -100k Per Cause Major Medical - $1,000,000 Lifetime Maximum
GUARANTEED RENEWABLE RENEWABLE AT OPTION OF INSURER
(Male/Female) Preferred, as of 12/31/05
Basic Hosp./Surg. a Traditional b Major Medical c High Deductible d
(w/ Options) Major Medical w/ HSA Major Medical
$50,000 Benefit $500 Ded. $3000 Ded. $50,000 Ded.
Age 0-18 $ 47 $136 $ 33 $ 22
Age 20 $ 66/$ 84 $190/$199 $ 60/$ 60 $ 17/$ 16
Age 30 $ 75/$105 $195/$237 $ 62/$ 71 $ 26/$ 24
Age 35 $ 81/$119 $208/$270 $ 71/$ 87 $ 32/$ 30
Age 40 $ 95/$126 $242/$311 $ 87/$107 $ 49/$ 37
Age 45 $110/$142 $287/$348 $105/$124 $ 49/$ 64
Age 50 $135/$149 $347/$383 $135/$149 $ 69/$ 64
Age 55 $152/$152 $441/$420 $161/$173 $ 98/$ 90
Age 60 $203/$208 $542/$460 $186/$193 $172/$158
Deductible a. NO DEDUCTIBLE b. $250/$500/1000 c. $1,500-$5,000 d. $10,000 - $50,000
Hosp./Surg. - $15k -100k Per Cause Major Medical - $1,000,000 Lifetime Maximum
GUARANTEED RENEWABLE RENEWABLE AT OPTION OF INSURER
Is your Health Insurance policy "FAIL-SAFE"? Too many Insureds tend to take their medical insurance coverage for granted. In Fact, 6 of every 10 policies in force can be cancelled by the issuer at any time. In most cases, a 30-day written notice is all that is required and afforded to the loyal policyholder or insured. Timely premium payments and low claims history will do nothing to overcome the "Opt Out" provision that exists in virtually every Major Medical, albeit be an Individual or Employer-sponsored medical plan. The "Renewability Clause" in your Contract or Group Certificate is where you will find it. Today, only two companies still issue Guaranteed Renewable policies. Just two short years ago, there were five. For most people, maintaining control of their health coverage is important and this can only be accomplished by purchasing this type of plan, but the few years or months that remain for the purchase of these plans will too soon be passed. T&T Marketing is licensed and proud to represent one of them. |
1st Year 2nd Year 3rd Year 4th Year 5th Year
* 24-28% per Year Average '00-'05
PLUS an additional 2-5% for age change(s)
* 24-28% per Year Average '00-'05
PLUS an additional 2-5% for age change(s)
10%
20%
30%
20%
30%
| WHY YOUR HEALTHCARE PREMIUMS BECOME UNAFFORDABLE Trend Factors (ANNUAL RATE INCREASE)* are built in to almost every Healthcare Delivery Plan. |
$600
$500
$400
$300
$200
$100
$0
$500
$400
$300
$200
$100
$0
| Our Healthcare Specialists can show you several ways to "Slow Down" the inflating costs of Health Insurance. |