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Do You Really Know Your Health Insurance Options?

If you or a loved one needed to have an operation, you are likely to receive information prior to the surgery regarding potential treatment options, with in-depth explanations of each procedure.

But, how are you supposed to make a choice if you don’t actually understand what is being explained? 

In a hospital setting, technical explanations are valued, we need to hear everything about our options. We want to hear the pros and cons, what the doctor is most comfortable with, and what the outcomes could be. We need this knowledge and these recommendations from doctors to effectively weigh the risks and benefits of the decisions we make.

However, this same approach doesn’t work as well when considering employee healthcare insurance. Often, brokers will take an overcomplicated approach when explaining renewals. HR departments often do as well, when they give employees options for their plans. And because the decision is not life or death, we see many clients and employees in a position where they make a decision to relieve the stress of confusion.

At some point, experts need to step back and acknowledge that accuracy is not useful without a foundation of understanding. And without that understanding people are left making decisions blindly. This is unreasonable and puts you into a position where you don’t actually have a real choice.

You are given an illusion of choice.

This is often how health insurance feels for our clients. They are given options and explanations, without enough real context to help make an informed, knowledgeable choice. Leaving them with plans that may not be suitable for their business or employees due to high cost or underutilization.

In health insurance, the information needs to be digestible, presented in a way that actually helps you make effective decisions. If we take the complicated surgical approach to our health insurance we risk losing the reasons why the strategy is suggested in the first place. 

Conversations about health insurance should be broken down into pieces, explained, and questioned until everyone truly understands the choices. Your broker should know if the right questions are being asked. If there is enough insight? Is a consultative approach being used to make sure a wise decision is made?

Avoid the confusion and get the answers you need.

Your plan should be presented to you and your staff in a way that is clearly understandable. We don’t need to understand how to build a custom watch. We need to start with telling time, then go deeper.

As experts, in any profession, we have this desire to give intense details, be transparent, and describe all potential outcomes to those who need the explanation. However, if the scenarios don’t make sense, if the explanations are not understood, this level of depth may only create fear.

If you have questions about your policy or don’t truly understand your options, don’t hesitate to reach out. We can give you the clarity you need to ensure you are providing the most cost-effective, beneficial plan for your school and employees.

Don’t be affected by the illusion of choice. Let’s keep it simple.

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