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Dangers of purchasing fixed coverage plan - visitors insurance

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  • Dangers of purchasing fixed coverage plan - visitors insurance

    We recently were contacted by one of our customers who indicated that he was having problems with his claim payment and would like us to help him with it.

    As we have always done so, we were glad to help him and offered to look into it. He sent us an explanation of benefits (EOB) he received from an insurance for the laboratory/chemistry work in the hospital. After looking at it, it seemed that he must have got more EOBs for the same sickness. When we reviewed all of them, we discovered that the insurance company had paid everything according to what they were supposed to pay.

    He had purchased a fixed coverage plan with $130,000 policy maximum and $0 deductible. He probably thought that as he had taken $0 deductible, everything would be covered at 100%. However, that is absolutely not true in case of fixed coverage plans.

    Please look at https://www.insubuy.com/visitors-insurance/ to understand the difference between fixed and comprehensive coverage plans.

    Even though the lab bill was around $9,000, the insurance was supposed to cover labs/x-rays up to $650 and they paid that. The person was left with the bill of over $8,000 to pay by himself. Of course, this would be a shock to any customer. However, as the insurance had paid everything according to the benefits of the policy, there is no way they would pay more than that. Therefore, we certainly can not ask the insurance company to pay more, but at least we were able to explain him what was happening. His next option would be to focus his efforts on negotiating with the hospital to see if they can reduce the bill and offer to pay off the rest.

    Please read about the risks of purchasing fixed coverage plans: https://www.insubuy.com/visitors-ins...ixed-coverage/

    This is yet another reminder to people that the healthcare in the US is extremely expensive. Therefore, please buy comprehensive coverage plans and NOT the fixed coverage plans. (Even if someone does not classify the plans like that, look whether there are sub-limits.) Comprehensive coverage plans are very reasonably priced. However, when people look at the prices of fixed coverage and comprehensive coverage plans side by side on page, they feel that comprehensive coverage plans are too expensive. But that is really not the case. Sometimes, when they put both parents together who are in late sixties and see the quotes around $2,000, they psychologically think that it is too expensive. But if you look at the per person cost per month, it would be $2,000/12 = around $170/month/person, which is very very reasonable. (These numbers are just an example.)

    You are paying around $1,500 to $2,000 per person for their air ticket, right? You pay that any way, because there is no other cheaper option. Similarly, consider the cost of good visitors insurance also as part of inviting elderly parents and in-laws.

    Therefore, we have sincere request to everyone to look at what you are purchasing, read the benefits and then make an educated decision, rather than simply looking at the price. Please buy comprehensive coverage plans, always. Of course, we offer both types of plans. Therefore, we have nothing against any specific type of plans. We just want people to know in advance about the benefits and restrictions of each type. We are your well wishers.

    If anyone needs any further help in understanding this, please feel free to post the questions here or contact us at any time. We are open 7 days a week.
    Thanks & Regards
    Insubuy
    Toll Free: (866) INSUBUY
    Local: (972) 985-4400
    Fax: (972) 767-4470
    Website: http://www.insubuy.com

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