- Why choose to work with an independent insurance agent?
- Personalized Service
Many companies are switching to automated systems that make it harder or take longer to actually reach a live person and the right person you need to talk to. Contacting us will connect you to a live person and if we are not available when you call we will respond to you in a very timely manner.
- More complete shopping experience
Independent agents represent a variety of different insurance carriers, allowing them to find you the ideal policy at competitive rates. They also advocate for you making sure you’re getting the most competitive and accurate rates given the information you’ve provided them. Just as real estate agents know how to sift through properties and narrow it down to the ones that best meet your needs and budget, an independent agent can help streamline and simplify your shopping experience.
- More customized, local knowledge and advice
Hawaii is very unique compared to the rest of the country and the island of Hawaii to the rest of the state. Having worked in the insurance industry in Hawaii for the last 10 years, we’ve come to understand the local dynamics and industry patterns that have emerged, allowing us to give you advice that is better suited to the local market in which you reside. An agent’s work does not stop after your initial purchase of the policy. Guidance and assistance in updating or changing your policy will continue year round.
- More service for the same or less in cost
Many people think using an independent agent is like using a middle man and will end up costing you more money. Insurance carriers generally do not charge you more to use an independent agent and those that do will normally disclose it to you before you finalize anything. Even if you do have to pay an extra broker fee, the added value a good broker or independent agent offers far outweighs that extra cost. At Analipo Insurance our carriers do not add a broker fee or build in the fee to your premium in almost all cases if you choose to use our services. We as an independent agency do not bill you any fees separately from the insurance carrier.
- Better understanding of how insurance works
Trying to understand how health or life insurance works and the terminology like deductible, face amount, etc. that goes with it can be a little overwhelming to the average person. Independent agents will educate you on how your policy works and help you get the most out of it. We complete over 20 hours of continuing education work every two years allowing us to provide you with accurate, up-to-date advice. We will help explain your coverage in terms you will be able to understand.
- Personalized Service
- Do I really need to buy health insurance?
For individuals the answer is yes for two reasons:
- Health care is expensive. An average three day hospital stay can cost $30,000 and treatment for a broken leg, $7,500. Health insurance can defray the costs for a set premium and may not be as expensive as you think.
- The Patient Protection and Affordable Care Act, commonly known as Obamacare requires that all individuals, with few exceptions, carry medical insurance that includes minimum “essential health benefits.” (EHBs) Depending on your income, you may qualify for subsidies that can help reduce the premium and out of pocket expenses for your health plan. A penalty will be assessed for those who do not comply with this mandate to have coverage. For 2014, that penalty is 1 percent of your annual income or $95, whichever is higher, and $47.50 for each uninsured child, to a family cap of $285. The penalty increases to the greater of 2.5 percent of income (with the maximum being a total yearly premium for the national average price of a Bronze plan sold through the Marketplace) or $695 per adult and $347.50 per child under 18 (with a maximum of $2,085) by 2017. The penalty will show up as an additional tax or a reduction in your federal tax refund. If you live in Hawaii and have medical insurance through your employer, most likely you have coverage that already meets the federal requirements. Check with your employer for more information.
For some employer organizations the answer is yes for the following reason:
The Hawaii Prepaid Health Care law requires that you purchase qualified health care coverage for your employees who work at least 20 hours a week for four consecutive weeks. You can require an employee contribution up to a maximum of 50% of the premium or 1.5% of the employee’s gross wages, whichever is less.
- I am eligible for Medicare, will I be penalized for not purchasing a plan on the Hawaii Health Connector?
No, Medicare coverage meets the essential health benefits requirement of the Affordable Care Act (aka Obamacare). You may however be penalized for enrolling in a Medicare Prescription Drug Plan (Part D) or another plan with creditable drug coverage (coverage as good as or better than a standard Part D plan) if you were not enrolled at any time when you became eligible to enroll into a Part D plan. Part D plans are offered through private plan sponsors. Contact us for more information.
- I am a small business owner with less than 50 full-time equivalent employees in the previous year. Do I still need to provide health insurance for my employees even though I will not face penalties if I don’t under the federal Affordable Care Act (Obamacare)?
Yes, the Hawaii Prepaid Health Care Act (PPHCA) is still in effect which requires employers, regardless of size to provide coverage to eligible employee who work at least twenty hours or more for four consecutive weeks. (Highlights of the Prepaid Health Care Law brochure link to pdf?)
- What is the difference between a deductible, co-payment, and coinsurance?
All these three things represent your out of pocket or cost sharing as it relates to health insurance. The deductible is an amount you pay dollar for dollar until the insurance company starts to pay your healthcare costs. For health insurance, it is usually an annual amount. A co-payment is a fixed dollar amount you pay towards each covered medical service, such as a $20 copay for an office visit. Coinsurance is a fixed percentage you pay towards the cost.