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Why are we procrastinating to find affordable Health Insurance in Santa Monica

I am amazed how often I experience clients procrastinating on making the final decision to find affordable health insurance in Santa Monica.

Almost daily I have perspective  clients calling  complaining about their cost of their health insurance. After reviewing their plans, we often see that the client is on an  old health plan and has not reviewed their benefits for years, or a health plan, which does not fit their lifestyle anymore. For example a woman of 46 does not want children anymore but is on an expensive maternity plan. But to make the final decision to move their health plan can take 6 months to a year, or even longer. Why do we procrastinate?

Health Insurance Plans are on an approx. 5-7 year life cycle. At the beginning the newly introduced plan is very affordable or gives very good coverage so that new applicants are attracted to the health plan. Than after 2-3 years the plan shows the actual medical loss ratio; the insurance company has to adjust the rates accordingly. You will experience a high premium rate increase, such as we saw with Blue Shield in the Vital Shield Plan or Anthem in the Smart Sense and Share Plans.It takes about another 2 years until most of the healthy individuals move from the health plan to a new plan. After about 5-7 years the health plan will be unattractive as it only holds people, who are sick and cannot move to a new health plan or people who need to have a certain coverage such as maternity coverage.

Compare Health Insurance Plans with car lease plans. There is a reason why you like to lease a car. You like to have a new model every 3 years, this behavior should be also copied  for buying health insurance, at least start reviewing what better plans are on the market on a yearly basis.

So stop procrastinating, I understand that you don’t like to deal with insurance companies but I am here to help you to find the affordable health insurance in Santa Monica which fits your need.

 

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