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Insurance outlet-mall-walkthrough-090713 Presentation Transcript

  • 1. Obamacare – “The Affordable Care Act”  Some people love it  Some people hate it  Many people will benefit from it  The question is – are you prepared for it and do you understand how it will impact you  The key to understand is that you do not have to buy from the exchanges to be compliant and get tax advantage
  • 2. Obamacare – “The Affordable Care Act”  The Obamacare Individual Mandate is still scheduled for January 1, 2014  The Obamacare Business mandate has been put off till 2015 per President Obama  The Insurance Exchanges are scheduled to open October 1, 2013  Some experts believe that the only people that will purchase from the exchanges are those that can not get insurance anywhere else because of a pre-existing condition .
  • 3. Obamacare – “The Affordable Care Act”  Obamacare basically mandates that all insurance coverage be explained in a common format and be the same cost for the same coverage  Due to the above all insurance companies are going to online applications and using different type of referral networks  Innvia’s Insurance Outlet Mall is using a marketing model of people creating their own distribution center for family, friends and community  Even without Obamacare many people still need affordable Insurance
  • 4. Insurance – What do I really need ?  Determine what coverage you want – based on first glance comparison  Type: HMO or PPO – may show (HSA)  HMO tends to be lower  PPO allows you to pick your Specialist  If it says HSA you have to look at detail to determine if it is HMO or PPO  Deductible: High or Low  High Deductibles reduce cost of premium  If you do not anticipate major expense you may want a high deductible
  • 5. Insurance – What do I really need ?  Dr. Co-Pay: Highly over weighted unless you have chronic conditions.  Out of Pocket (OOP): High or Low – Tends to corelate with Deductible  Inpatient Hospital: What you pay after deductible  Maternity: only important if you are in child bearing years  RX Card: Need to study details if important
  • 6. Step 1 – First Page of Site  Pick Individual & Family for Major Medical  Simply fill out 8 fields  Agent ID & Agent Name  First & Last Name  Email & Phone  Zip Code  Who needs coverage  Myself only  Myself and my spouse  Myself and my children  Myself, my spouse and children  My children  Click SHOW HEALTH PLANS AND PRICES  Note these plans are fixed by law Click for Quotes
  • 7. Step 2 – Second Page Review Quotes  You will get up to a 100+ quotes  This shows the first two quotes  You can scroll though all which in this case was 94  This was a Florida quote for a 49 year old woman  Two carriers quoted  Aetna  Humana
  • 8. Step 2 – Second Page Review Quotes  This shows the last two quotes  Note the range in prices – in this case they were from $119 from quote 1 on previous slide to $627 from quote 94 on this slide  This a $500 spread per month  It should be obvious that it is worth looking into the details of the plans  If you prefer one carrier over another just look at your preference  The next step is to start at the cheapest
  • 9. Step 2 – Second Page Review Quotes  Evaluate the high level feature and work your way down till you reach a quote you are comfortable.  At this point you want to View Plan Details Click for Plan Details
  • 10. Step 3 – Review Details  It turns out that the $159 quote was the lowest price that met her first level requirements  She wanted and got PPO  Deductible = $7,500  Hospitalization was 0%  Review additional coverage to determine if there are any more benefits you may want or need3
  • 11. Step 3 - Review Details  She was happy with the coverage shown to the right.  If she had wanted chiropractic or accupuncture she could of continued looking at quotes or call the 888-504-3170 number and talked to an insurance agent  You may have to leave a message if all agents are busy they will respond within 24- 48 hours
  • 12. Step 3 - Review Details  This is the bottom of the plan benefits.  The next step would be to review the Exclusions & Limitations to make sure this was the plan you really want  Note: different Insurance companies will have different formats for:  Plan Benefits  Exlusions & Limitations Click for Exclusions and Limitation
  • 13. Step 4 – Apply on line  The last step is to apply:  preferrably online  It should take two to four weeks for them to underwrite and confirm your policy rate  Note: You typically save two weeks by applying online  You save the mailing time  They do not have to input Click to Apply
  • 14. Top half of application screen  This will auto fill most of the information  Next slide will show the bottom half of the screen with a continue key
  • 15. Bottom half of screen  It is recommended to choose online as that will save several weeks  However you can choose to print out the form or have it mailed
  • 16. Question on existing Coverage
  • 17. Slight Increase due to lapse of Coverage
  • 18. Review Quote  This is the last step where you review what you are about to submit  The rate at this point is considered a preferred rate
  • 19. Example of 26 year old married couple  The first is the profile for this quote  The second is the lowest quote  The third is the highest quote  This represents a $617 spread  It should be obvious that it is worth the time to research what these policies actually cover
  • 20. Example of 40 year old married couple  The first is the profile for this quote  The second is the lowest quote  The third is the highest quote  This represents a $838 spread  It should be obvious that it is worth the time to research what these policies actually cover
  • 21. Example of 55 year old married couple  The first is the profile for this quote  The second is the lowest quote  The third is the highest quote  This represents a $1,488 spread  It should be obvious that it is worth the time to research what these policies actually cover
  • 22. The Insurance Outlet Mall is a referral agent based Health Insurance – Please use the agent ID # and name of who referred you to this site or presentation http://www.insuranceoutletmall.com/ Otherwise you can use: 1178 - Tim Mendonca For more information email info@DiamondWealthTeam.com Thank You – For more information