Why Talk To Me About Insurance?

by Michael on March 10, 2010

in Health insurance,HSA Health Savings Accounts,Insurance Newswatch

I’ll tell you the complete unvarnished truth.

Take for instance all the talk about bad insurance companies. Now, there is no doubt that there are some bad apples out there. But is the talk you hear in the news really honest and truthful?

For instance …

Do you know who the number one denier of health insurance claims is? If you listen to many in the media, you’d think that it is all the bad insurance companies. But this factual statistic may surprise you. Consider the following:
  • According to the American Medical Association, in 2008 the government’s health plan (Medicare) denied medical claims at close to double the insurance industry. The government ran health care plan denied 6.85% of all claims. That is more than one in fifteen.
  • What about the insurance industry? Aetna denied the most (and came in second to Medicare), but the average in the industy, according to this report was 3.88%, which is about 1 in 26, nearly twice as good as the government run program.
  • Now to be fair, some claims should be denied. But in view of all the rheteric, a little truth would be nice for the sake of our sanity.
  • And 2009 was better than 2008. But who denied the most again? The government ran health insurance program.

So whereas I cannot do anything about all the rhetoric (I wouldn’t even try), I can help you by telling you the truth. I give my clients good advice, based on their circumstances. And I’ve been doing it for 30 years.

Call me at 209-390-1163 if I can answer any questions for you. I’m here to help.

Michael Myers

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