We at Cosmo Insurance Agency love answering all of your insurance questions. Here are the 5 “trending” concepts our clients assume about insurance but are actually false. We compiled this quick short list of debunked assumptions:
Assumption #1: You can jump onto an individual insurance plan whenever you want.
Debunked: There are only circumstances and points for when one can jump on an individual insurance plan. Those instances have to be either an involuntary loss of insurance coverage or the individual enrolls in an insurance plan in November or December (during open enrollment) and thus are insured in January.
Assumption #2: Once enrolled on an insurance plan, you are automatically insured from that day onward.
Debunked: Typically, once you enroll in an insurance plan it could take about a month or more until your insurance plan takes effect.
Assumption #3: Insurance will pay for everything.
Debunked: Insurance does not cover everything outright, individual parties are still responsible for premiums, co-pays, and etc.
Assumption #4: There are insurance plans with no premiums.
Debunked: All insurance plans have premiums- it’s what the individual pays.
Assumption #5: You don’t need health insurance.
Debunked: Health insurance is a necessity; it is a life jacket in case the boat sinks. The purpose of health insurance is to be ready for the unexpected. What happens if someone you love is in an accident? The hospital bills for that are astronomical if you pay out of pocket. Insurance covers at least part of the bill for you- thus engaging your life jacket.
If you have any questions or think you may have an assumption that needs to be “debunked” comment, call, e-mail, or stop in today!
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.
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