FACTS for TN Residents

The 5 Facts You Should Know Before Buying Any Health Insurance

FACT # 1:

NEVER BUY HEALTH INSURANCE BASED ON PRICE ALONE.

It is important to know what type of policy you are wanting. Do you want a basic hospital plan or major medical insurance?

A hospital plan is usually less expensive but may have limits on the dollar amount it will pay. A major medical plan pays a percentage of the charged amount.

By all means, if a hospital plan is what you can afford, buy it.

If you cannot afford a major medical insurance plan, the hospital plan will help you. Just be sure you understand the difference.

FACT # 2:

INSURANCE COMPANIES HAVE DIFFERENT HEIGHT AND WEIGHT RATING CHARTS.

Make sure you ask your agent about weight rating. Some insurance companies are very strict on weight and will rate you up if you are not within their standard rates.

Other companies have "more realistic" weight rating. You could be declined from one company because of weight, but accepted by another company.

FACT # 3:

HEALTH INSURANCE COMPANIES TREAT PRE-EXISTING CONDITIONS DIFFERENTLY.

Some insurance companies will put an exemption rider on certain health conditions, and will not pay claims related to the exempted condition.

Other insurance companies may have a "condition-specific" deductible. Under this type of plan, the pre-existing condition will have a seperate deductible before the plan will pay benefits. With the condition-specific deductible you are still covered for the health condition.

Check with your agent about any conditions you are concerned about.

FACT # 4:

SOME HEALTH INSURANCE PLANS MAY NOT TRAVEL WELL.

Some insurance companies limit your coverage drastically if you travel outside your state of residents.

Not all companies will cover you if you are outside the United States.

FACT # 5:

HEALTH INSURANCE COMPANIES DO NOT INCREASE RATES THE SAME WAY.

Make sure you have at least a 12 month guaranteed rate. Some insurance companies also offer 24 and 36 month rate guarantees.

All Tennessee plans are guaranteed renewable, but there is no guarantee on rates unless it is specified in writing.

GUARANTEED RENEWABLE: On an existing policy insurance companies cannot deny renewal request if there are no contract violations.
NON-GUARANTEED COVERAGE: Laws do not specify that an insurance company has to issue insurance to an individual. Insurance companies can deny request for coverage. Individual policies are subject to being underwritten by the insurance company.
Even though you can be turned down for an individual policy, you can never be turned down for health insurance that is offered through an employer sponsered group plan.

Summary:

When purchasing health insurance in Tennessee or North Carolina, find an insurance agent who will research your options to help you find the company and plan best for your budget and needs.

As an Independent Agent, I will be able to search several different companies and help you determine the plan and coverage best for you and your family.

Toni King Johnson City, TN
(423) 676-5200 email: insurancewithtoni@gmail.com