Health Insurance Company

Discussion in 'Business Operations' started by boxoffire, Mar 13, 2005.

  1. boxoffire

    boxoffire LawnSite Member
    Posts: 169

    Anyone ever heard of MidWest Life insurance company (midwestlife.com) for their health insurance needs? Guy called me the other day quoating me about $75 less per month on health/dental coverage for myself only. Said they have been in biz for 45 years and specialize in helping small biz owners like myself. Wants to come by my house this week and compare with my BCBS policy and explain how I can save money with their plan and get just as much benefit. I told him that I would need to know for sure before leaving a very reputable complany like BCBS for my health insurance needs. It is my first year in biz by myself and I sure could use the extra $75 in savings for other things. May not make much my first year. I wonder how much BCBS would penalize you if you leave them and reapply back with them down the road. Probably wouldn't matter to them. Thanks for replies. Good luck out there. Also more info at www.affordableservices.org
     
  2. mastercare

    mastercare LawnSite Senior Member
    Posts: 289

    I am assuming that Midwest life is actually Midwest Security. Being that I'm a health insurance agent here in MI, I can tell you that they're an excellent company. Their prices are great for small groups, but not as competitive on the individual side. For that, I would suggest Humana.
    BCBS is very expensive. The reason is that they are a Non-profit organization. Becuase of this, they must accept everyone regardless of health conditions. This in turn, raises premiums for EVERYONE who has their policies. If you have health problems and can't get decent coverage anywhere else, BC is a great option. IF you're healthy, just about any ins company can beat their prices.
     
  3. KLR

    KLR LawnSite Member
    from Zone 6
    Posts: 171

    mid-west national life ins. co. of tennessee...i dont know if its the same as mid-west security or not.

    i can tell you though that they will try to sell you a membership in the association (alliance for affordable services)...this is where the sales person makes most of his commission. i can also tell you that that membership will add about $40 per month to your insurance premium (thats for family coverage, you mention just for you so i assume the $40 will be less?) i can also tell you that you will never use most, if not all, of the associations services....so i recommend if you do choose this insurance coverage insist that you do not want the membership (again, this is where most of his sales commision comes from, so expect him to dilligently try to talk you into the membership)

    I have used there insurance. personnally i feel if you do not have a family then the bcbs is a waste of your $$$$
     
  4. mastercare

    mastercare LawnSite Senior Member
    Posts: 289

    After reading the next thread it appears that Midwest Life Co from TN is not the same as Midwest Security, which is located in Wisconsin.

    As far as the membership fees. Several insurers of small groups now require membership in order to get their rates. These rates are still typically lower than the big nationally advertised companies who don't charge association fees. And, as someone who sells insurance for several companies, I can assure you that the sales person makes his commission based on the amount of premium you pay for medical coverage. It has no connection what-so-ever to the assocation fees. Trust me on this one. I've never made a single cent off association fees.
     
  5. KLR

    KLR LawnSite Member
    from Zone 6
    Posts: 171

    anyway you look at it, if you are an individual seeking out health care insurance, in my opinion (even as uniformed as i am) stay away from the 'managed care' policies unless you enjoy spending time in the waiting rooms of the doctors, in that case go for it. I'd encourage folks to look into the health savings plan with a high deductable health insurance policy (assuming a healthy individual). unfortunately, the health savings plan is not available to me where i live, so i shop every year. my options are pretty much limited to the large managed care companies (harvard pilgram, bc/bs, tufts, aetna) or mega health - mid-west.

    food for thought...according to an independent study on medical expenses done in 2003, 80.9% of medical claims were under $5000. 17.1% of claims were between $5001 - $30,000. .9% from $30001 - $50000 and 1.1% greater than $50000.
    the odds are with you???
     
  6. boxoffire

    boxoffire LawnSite Member
    Posts: 169

    Thanks folks. He quoated me a price so if he sticks by it then it sounds legit to save me about $75 a month. I am only paying for myself and I'm pretty healthy although I had to mention on my application with BCBS that I had seen a neurologist in the past for a slight neuropathy issue with my nerves (some tingling and partial numbness sometimes but not too terribly bad) but haven't needed to see one in years now. I'm on no medications which he had already asked me. I was hoping if somebody had read this and knew of this company and if they were known for not providing good coverage when something happens to you and you really need it. That's my biggest fear since BCBS is so welcomed by doctors and hospitals. I guess I could call the Better Business Bureau and inquire with them. So stay away from any memberships if possible? If he goes up any more than what he told me then he's outta there. He had included dental too and I may not use that for another year or so, so I'm gonna request an even lower rate than he quaoted me actually. Maybe $140 month instead of $157 he told me.
     
  7. tonygreek

    tonygreek LawnSite Gold Member
    Posts: 3,480

  8. lawnboy30

    lawnboy30 LawnSite Member
    Posts: 92

    Anyone looking for Health Insurance can call me and I will put you in touch with my wife's company. She will get you the best coverage at the best premium.

    PM me if interested. :cool2:
     

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