Warnings About Finding Health Insurance over the Internet
Here is some information that most health insurance agents and companies will not tell you about the internet, "Not every site is what it seems." For example, most people do not realize that filling out a quote might prompt 5 to 10 calls from insurance companies and agents. It will probably result in an email box full of insurance fodder, and it could go on for months.
The Down Side - Here is what typically happens when a person searches for health insurance over the internet. They type in some key word into the search engine like dallas health insurance, dallas health quote, or some related term, then they get the results. The advertising might draw them in (this is usually a company that bids on the right to show up on this page when you type in the specific words) The companies that advertise get the most amount of visitors to their site. The rest of us are sitting in Yahoo, Google, MSN and other search engines hoping that you will find us. If you see us listed under the search results it is because we have slaved over our site to try to gain some sort of placement or we just got lucky that day. When you decide on the one to click you are taken to a landing page. This is the place on the web site that is designed to get you to fill out the quote. Now this is where the circus begins. If the site is not an agent site then your name will probably be sold to up to 10 agents. This is why you might get calls from several agents.
The Up Side - The internet provides a way for you to get instant information and quotes from multiple companies all for an investment of 60 seconds. If you go to an agents site that works with multimple companies than you can get the best overview of what is available in the market place with out getting 10 calls.
Select
1. A local Texas Agent
2. An Agent that represents multiple health insurance companies.
3. An Agent that has the ability to let you run your own quote.
4. An Agent the specilizes in health insurance - not homeowners, liability,or automobile insurance
Friday, June 15, 2007
Generic Drugs: What Are They?
Generic Drugs: What Are They?
A generic drug is identical, or bioequivalent to a brand name drug in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use. Although generic drugs are chemically identical to their branded counterparts, they are typically sold at substantial discounts from the branded price. According to the Congressional Budget Office, generic drugs save consumers an estimated $8 to $10 billion a year at retail pharmacies. Even more billions are saved when hospitals use generics.
Drug companies must submit an abbreviated new drug application (ANDA) for approval to market a generic product. The Drug Price Competition and Patent Term Restoration Act of 1984, more commonly known as the Hatch-Waxman Act, made ANDAs possible by creating a compromise in the drug industry. Generic drug companies gained greater access to the market for prescription drugs, and innovator companies gained restoration of patent life of their products lost during FDA's approval process.
New drugs, like other new products, are developed under patent protection. The patent protects the investment in the drug's development by giving the company the sole right to sell the drug while the patent is in effect. When patents or other periods of exclusivity expire, manufacturers can apply to the FDA to sell generic versions. The ANDA process does not require the drug sponsor to repeat costly animal and clinical research on ingredients or dosage forms already approved for safety and effectiveness. This applies to drugs first marketed after 1962.
Health professionals and consumers can be assured that FDA approved generic drugs have met the same rigid standards as the innovator drug. To gain FDA approval, a generic drug must:
* contain the same active ingredients as the innovator drug(inactive ingredients may vary)
* be identical in strength, dosage form, and route of administration
* have the same use indications
* be bioequivalent
* meet the same batch requirements for identity, strength, purity, and quality
* be manufactured under the same strict standards of FDA's good manufacturing practice regulations required for innovator products
For more information on the safety and effectiveness of generic drugs, please see:
* FDA Generic Drugs Final Rule and Initiative
* Consumer Education: Generic Drugs
* Generic Competition and Drug Prices (4/4/2006)
* FDA White Paper: New FDA Initiative on "Improving Access to Generic Drugs." (6/12/2003).
* FDA White Paper: Generic Drug Prices in the U.S. Are Lower Than Drug Prices in Canada. (11/2003)
* FDA and the Drug Development Process: How the Agency Ensures that Drugs are Safe and Effective (2/2002) [HTML] or [PDF]. Spanish version: [HTML] or [PDF]
* FDA Ensures Equivalence of Generic Drugs. PDF document From the 1999 edition of "From Test Tube to Patient: Improving health through human drugs."
* Generic Drugs: Safe. Effective. FDA Approved. Public service announcements promoting the safety and effectiveness of generic drugs.
o Six Public Service Announcements
A generic drug is identical, or bioequivalent to a brand name drug in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use. Although generic drugs are chemically identical to their branded counterparts, they are typically sold at substantial discounts from the branded price. According to the Congressional Budget Office, generic drugs save consumers an estimated $8 to $10 billion a year at retail pharmacies. Even more billions are saved when hospitals use generics.
Drug companies must submit an abbreviated new drug application (ANDA) for approval to market a generic product. The Drug Price Competition and Patent Term Restoration Act of 1984, more commonly known as the Hatch-Waxman Act, made ANDAs possible by creating a compromise in the drug industry. Generic drug companies gained greater access to the market for prescription drugs, and innovator companies gained restoration of patent life of their products lost during FDA's approval process.
New drugs, like other new products, are developed under patent protection. The patent protects the investment in the drug's development by giving the company the sole right to sell the drug while the patent is in effect. When patents or other periods of exclusivity expire, manufacturers can apply to the FDA to sell generic versions. The ANDA process does not require the drug sponsor to repeat costly animal and clinical research on ingredients or dosage forms already approved for safety and effectiveness. This applies to drugs first marketed after 1962.
Health professionals and consumers can be assured that FDA approved generic drugs have met the same rigid standards as the innovator drug. To gain FDA approval, a generic drug must:
* contain the same active ingredients as the innovator drug(inactive ingredients may vary)
* be identical in strength, dosage form, and route of administration
* have the same use indications
* be bioequivalent
* meet the same batch requirements for identity, strength, purity, and quality
* be manufactured under the same strict standards of FDA's good manufacturing practice regulations required for innovator products
For more information on the safety and effectiveness of generic drugs, please see:
* FDA Generic Drugs Final Rule and Initiative
* Consumer Education: Generic Drugs
* Generic Competition and Drug Prices (4/4/2006)
* FDA White Paper: New FDA Initiative on "Improving Access to Generic Drugs." (6/12/2003).
* FDA White Paper: Generic Drug Prices in the U.S. Are Lower Than Drug Prices in Canada. (11/2003)
* FDA and the Drug Development Process: How the Agency Ensures that Drugs are Safe and Effective (2/2002) [HTML] or [PDF]. Spanish version: [HTML] or [PDF]
* FDA Ensures Equivalence of Generic Drugs. PDF document From the 1999 edition of "From Test Tube to Patient: Improving health through human drugs."
* Generic Drugs: Safe. Effective. FDA Approved. Public service announcements promoting the safety and effectiveness of generic drugs.
o Six Public Service Announcements
Monday, May 14, 2007
Short Term Medical Plan Warnings
Short Term Medical... A Warning
It has a great sound but can lead to serious problems. You say, "I only need coverage until I get a job, or for a short time." The problem with short term medical is it is short term even if you develop an illness that requires long term coverage. In Texas short term Medical is not guaranteed renewable. By this I mean the company will terminate coverage at a specified time (6 months or 12 months)and in most cases can not be converted to permanent coverage. This doesn't sound like a problem unless you develop a condition, have an accident, don't find a job, or need to continue coverage longer than anticipated. In my opinion, Short Term Medical Plans are a waste of money and a serious risk to most consumers. Those that need the coverage will loose it and those that don't need it...well the are protected for a time.
The better choice... Major Medical
Compare the coverage and cost of a traditional major medical plan against a short term plan. You will find the cost are not that different, yet the risk are astronomical. I advise most of my client to take a major medical plan even if the only need a plan for a short period of time. I remind them of the risk with short term medical plans. I also remind them that is the stop paying for a plan the insurance company will surely stop the coverage!!!!
Brent Trice
http://www.DallasLifeAndHealth.com
http://www.DentonHealthQuote.com
It has a great sound but can lead to serious problems. You say, "I only need coverage until I get a job, or for a short time." The problem with short term medical is it is short term even if you develop an illness that requires long term coverage. In Texas short term Medical is not guaranteed renewable. By this I mean the company will terminate coverage at a specified time (6 months or 12 months)and in most cases can not be converted to permanent coverage. This doesn't sound like a problem unless you develop a condition, have an accident, don't find a job, or need to continue coverage longer than anticipated. In my opinion, Short Term Medical Plans are a waste of money and a serious risk to most consumers. Those that need the coverage will loose it and those that don't need it...well the are protected for a time.
The better choice... Major Medical
Compare the coverage and cost of a traditional major medical plan against a short term plan. You will find the cost are not that different, yet the risk are astronomical. I advise most of my client to take a major medical plan even if the only need a plan for a short period of time. I remind them of the risk with short term medical plans. I also remind them that is the stop paying for a plan the insurance company will surely stop the coverage!!!!
Brent Trice
http://www.DallasLifeAndHealth.com
http://www.DentonHealthQuote.com
Friday, April 27, 2007
Regular Premium Increase or A Rate Guarantee
Almost everyone receives some type of increase in their health insurance premium. This usually become the incentive to re-shop that insurance. Many companies practice what I call, premium trolling. This is where they offer a low premium to entice customers to sign up and then every 6 months raise the premium. As an agent this drives me crazy and I have complained to the companies that I perceive are doing this. This is the primary reason you need an agent that represents more than one company. I tell most of my customers that this might happen to them so if they become unhappy with their insurance company, for any reason, let me know and we can re-shop the market.
Health companies are getting smarter. Many of them are offering rate guarantees for individual policies. This can be from 24 months to 36 months. Some charge an extra premium for this but it is usually worth it. Just the time that it takes to go through the underwriting process can be a pain. This change can even cause the change of a doctor.
Health issues limit your choices. One of the reason people have health insurance is to control the risk that comes with a sickness, hospitalization or accident. If this happens to you then your chances of getting good rates, or even coverage become limited. This often translates to "your stuck with rate increases and your current coverage for a while."
If you live in Texas and are interested in knowing more about rate guarantees give me a call. 940-594-8040 or toll free at 877-866-4156
Brent Trice
www.TexasHealthInsurance.CC
www.TexasHealthInsurance411.com
Health companies are getting smarter. Many of them are offering rate guarantees for individual policies. This can be from 24 months to 36 months. Some charge an extra premium for this but it is usually worth it. Just the time that it takes to go through the underwriting process can be a pain. This change can even cause the change of a doctor.
Health issues limit your choices. One of the reason people have health insurance is to control the risk that comes with a sickness, hospitalization or accident. If this happens to you then your chances of getting good rates, or even coverage become limited. This often translates to "your stuck with rate increases and your current coverage for a while."
If you live in Texas and are interested in knowing more about rate guarantees give me a call. 940-594-8040 or toll free at 877-866-4156
Brent Trice
www.TexasHealthInsurance.CC
www.TexasHealthInsurance411.com
Saturday, April 14, 2007
Understanding Major Medical
One sure way to cause problems is to not fully understand what your are buying. You need to know the answers to these questions?
1. Is this major medical?
2. What company is it? - look up the company, call them to see if and how they answer their phone.
3. What is the deductible?
4. Does it cover Dr. office visits? If so, how many a year? How much? What about lab work?
5. What is the co-insurance?
Sometimes not asking the right question can cost you money when you need it the most. ASK QUESTION and a lot of them. No professional will get frustrated they will take the time to explain the information to you.
Brent Trice
email me
visit my website
http://www.texashealthinsurance.cc
1. Is this major medical?
2. What company is it? - look up the company, call them to see if and how they answer their phone.
3. What is the deductible?
4. Does it cover Dr. office visits? If so, how many a year? How much? What about lab work?
5. What is the co-insurance?
Sometimes not asking the right question can cost you money when you need it the most. ASK QUESTION and a lot of them. No professional will get frustrated they will take the time to explain the information to you.
Brent Trice
email me
visit my website
http://www.texashealthinsurance.cc
Understanding Medicare Options
Many Seniors are faced with the changes in the Medicare system. Believe it or not, things seem to be improving for most Seniors. Most Seniors will benefit with a Medicare Advantage plan over a Medicare supplement Plan.
Many people ask me, what exactly is a Medicare Advantage Plan? Simply put it is a plan that is:
1. underwritten by an insurance company.
2. sponsored by Medicare. (you are still in the Medicare system)
3. usually includes more benefits than Medicare A and B .
4. usually does not cost the member any additional premium.
Why would someone stay with a Medicare supplement policy over a Medicare Advantage Plan?
1. there is not a network in their area.
2. the plan is not offered in their area.
3. they like paying the monthly premium for their supplemental plan .
4. no one has taken the time to explain the plan to them.
5. they don't like changes.
6. they might need to change doctors to save money.
For more information visit http://www.medicare.gov
or call me for additional information. I would be glad to answer your questions if you live in Texas.
Brent Trice
866-877-4156
http://www.TexasHealthInsurance.CC
Many people ask me, what exactly is a Medicare Advantage Plan? Simply put it is a plan that is:
1. underwritten by an insurance company.
2. sponsored by Medicare. (you are still in the Medicare system)
3. usually includes more benefits than Medicare A and B .
4. usually does not cost the member any additional premium.
Why would someone stay with a Medicare supplement policy over a Medicare Advantage Plan?
1. there is not a network in their area.
2. the plan is not offered in their area.
3. they like paying the monthly premium for their supplemental plan .
4. no one has taken the time to explain the plan to them.
5. they don't like changes.
6. they might need to change doctors to save money.
For more information visit http://www.medicare.gov
or call me for additional information. I would be glad to answer your questions if you live in Texas.
Brent Trice
866-877-4156
http://www.TexasHealthInsurance.CC
Understanding the Difference between Group Health Insurance and Individual Health Insurance in Texas
Many people ask me about the difference between Group Health Insurance and an Individual Health Insurance plan. In the state of Texas there is a difference. Group plans are usually more expensive but often have higher levels of coverage than Individual plans. If you have any pre-existing conditions, most individual plans will either rider them out or exclude the condition. Some conditions are even cause for decline. These conditions vary based on each carriers (companies) underwriting requirements. Maternity coverage is usually not offered with individual coverage or it is limited.
If you would like to know more please contact me at email me or visit www.DentonHealthInsurance.com
If you would like to know more please contact me at email me or visit www.DentonHealthInsurance.com
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