Saving You Money For Life

We were surprised to learn that most Americans would rather hit the gym or do their taxes than review their health-care policies. A new telephone survey conducted for eHealth, Inc. cites the reason as too much insurance jargon. Ok, so we’re understandably a little biased, but that just goes to show how important it is for companies to reach out to consumers with an open ear towards criticism.

Sam Gibbs, Senior Vice President of eHealth, notes that confusion prevents consumers “from selecting the health plan best suited to their individual needs…. As costs increase and responsibility for coverage shifts to the individual, these terms are becoming increasingly relevant to consumers’ daily lives and their well-being.”

So we’d like to take a moment and share some helpful hints and tips with you – the consumer, the person left to determine whether the expensive policy you keep paying for is actually the right fit for your needs.

The easiest way to decipher any unfamiliar wording in a document is to look it up. Start by reading your policy with a pencil or highlighter in hand. See something you’re not sure about? Underline it or highlight it, and keep right on reading. Go over the whole document in this manner.

Next, sit down at your computer and type in every confusing word or phrase in your favorite search engine. Then, in the margin next to the word in question, write down the definition. Do this for everything you’ve highlighted. When you’re finished, you should be able to decipher the whole thing just by referring to your written notes in the margin. However, if you still have questions, make an appointment with your insurance agent or Human Resources manager to go over any truly baffling sections.

Don’t think you have time to read your policy in one sitting? A friend once revealed that he keeps boring documents and owner’s manuals in his bathroom. That way, if he wants something to read and there’s nothing else around, he’s sure to pick it up. Just avoid the temptation to use your policy in lieu of toilet paper and you’ll be fine.

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