You guys who write GR's HSA's, I would like your opinion on the comparison of the two plans. The prospect is single, no children. The areas not covered by the Saver Plan may not be too relevant when considering a saving in premium. Of course, I remember the admonition (I believe it was from John Petrowski) to watch out for any plan that has "Saver" in its title.
The biggest myth is this biz is that everyone needs a cheap rate. Yet if you look a buying patterns among all consumers you find that no one buys the cheapest of anything - even "broke" people don't buy the cheapest cell phone, tv, dvd player or computer.
I can tell you for a fact that "broke" people most certainly don't buy the cheapest car. In fact, they search for the "most" car they can get.
Yet when it comes to health insurance for some reason people think the rate has anything to do with anything. It does if you don't build value in your product or don't disclose future liability.
I have never seen rate be an issue with an overwhelming majority of my clients. I don't say things like "cheap" or "afforable" when I talk. I talk about "quality" and "the best."
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Any plan with artificial caps, especially on Rx, is one to avoid.
That being said, I understand there are a few states where it is almost impossible to find a plan that does not cap Rx.
When you impose caps (Rx, outpatient, etc.) what you are telling the insured is we will allow you to use your plan but when you need it the most we are cutting you off.
That doesn't win friends with anyone . . . except the insured's attorney.
Any plan with artificial caps, especially on Rx, is one to avoid.
That being said, I understand there are a few states where it is almost impossible to find a plan that does not cap Rx.
When you impose caps (Rx, outpatient, etc.) what you are telling the insured is we will allow you to use your plan but when you need it the most we are cutting you off.
That doesn't win friends with anyone . . . except the insured's attorney.
What states limit the cap on Rx's? It would be nice to know which ones to stay away from. thanks...
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"Tell me and I will forget. Show me and I will remember. Involve me and I will understand." Confucius
Im in Texas and it seems like all of BCBS individual plans have a max on the RX, unless I overlooked something. Does that mean that BCBS should be out for me here in TX?
Carefirst Blue Cross - $500 to $1,000 cap
Aetna - $5,000 cap
Kaiser - $1,750 cap
Optimum Choice - $3,000 cap (owned by UHC)
Assurant - unlimited
GR - unlimited
Blue Cross owns 72% of the individual market in MD and the max they offer is $1,000.
Arnguy,
I'm probably late in responding but the reason some of the good veteran agents on this board are anti-Saver is the lack of a true out-of-pocket limit for the customer. Its easy to say who cares about office vists, OP testing and Rx but not so easy to say "even once you hit your deductible, those things will NEVER BE COVERED." Then see what the customer thinks about that risk. Most Saver customers don't understand the true implications of these outpatient services not being covered. One of the problems is agents giving short sighted advice and selling on price alone.
Salpro 22,
Anthem BC/BS of New Hampshire has a 2K per person limit built into all plans even HSA-compatible. Anthem BC/BS of Connecticut has a $2000 (plus a $500 option) limit that is offered as a rider or built in to their plans. Only the HSA in CT doesn't have a cap with Anthem. Another state-wide player called Connecticare in CT has a 1,2, or 3k limit in each plan excelt for the HSA plan. Aetna in CT has a $2500 cap built into all plans EVEN HSA!
Yes, some states seem to have this phenomenon more than others for some reason.
Most Saver customers don't understand the true implications of these outpatient services not being covered. One of the problems is agents giving short sighted advice and selling on price alone.
The other side of the coin are insureds who have no clue what anything really costs when it comes to health care.
Too many have been insulated by copays. They also have no idea how much health INSURANCE costs because of employer subsidies.
Consumers really think health insurance is $60 per month or less (a bit more for families) and it really cost's $20 to see a doc and another $20 for meds.
They think they need a $500 deductible because that was what they had at work. The last time they hit the deductible was when their last child was born and they had to come out of pocket a whopping $1000 for the kid.
The plan they want and the plan they can afford are in two different universes.
The plan they really need is another story.
They believe that in buying a plan that has a low deductible and basic outpatient cover they are fine.
That is, until they contract a disease where the meds run $2k - $3k per month or even higher.
Most consumers are ignorant of what a plan NEEDS to cover and agents are too timid, or misinformed (or both) to actually let a client know what they need. So they sell them a Right Start or Saver plan because it fit's their budget and everyone is happy.
That is, until they have a major claim and are lucky if half the bill is paid.
Golden Rule's HSA Saver Plan vs. HSA 100
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