No Riders

Q. I notice you suggest finding a plan that does not include a rider on health conditions. Why is this?

A. Pretty simple actually. What is the ONE thing you want your plan to do?

Pay your claim.

If the plan only pays for some claims, and not for others, why have the policy?

Riders are a way for carriers to offer more affordable coverage and avoid risk. There is nothing wrong with choosing an affordable plan, but if it hangs you out to dry you don’t need it.

Consider two plans. One has full coverage including your hypertension, the other has a rider. The full coverage plan is similar in benefits but is 10% more than the one with the rider.

Here are some things to consider.

The rider plan will not cover your hypertension meds.

The rider plan will not cover your hypertension related doctor visits.

If you have a high deductible plan, expenses for your ridered condition do not accumulate toward the deductible.

If you have a stroke, or heart attack, your ridered plan may not pay for your medical bills.

Is that enough reason?

Would you buy an auto insurance plan that covers you if you have an accident in any month that does not have an “R” in it? Or would you rather have a 12 month policy, even if it cost a bit more?

This entry was posted on June 19, 2006 at 11:34 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

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