Rate Guarantee Info .

There are two common questions you may have:

1) Can I find these same plans cheaper elsewhere?

2) Are these rates guaranteed for any length of time or can they increase as soon as I enroll?

Can I find these same plans cheaper elsewhere? Unlike other products, insurance policies are tightly regulated. The rates are filed with the Washington State Insurance Commissioner and you can only be charged the filed rate, period. It does not matter if you enroll through a broker or directly with the carrier, the plan and rates will be the same. You do not pay a higher rate or fee by using a broker. The agent or broker is compensated by the insurance carrier.

There are several advantages to using an experienced broker. The broker has access to all plans and because they are compensated nearly the same from each carrier they are not biased as to which plan you choose, that is, they will help find the most appropriate plan for you rather than “push” a plan that is not right for you. Also, because they have access to all plans they will tell you not only the advantages, but also the disadvantages of each plan. Once enrolled, a good broker will monitor any changes to your plan or rates and notify you if another carrier has a more competitive option for you. Finally, and perhaps most importantly, a customer service oriented broker will act as your advocate in working with the carrier regarding any claims or billing issues. Green Financial has been assisting groups and individuals with their insurance needs since 1986 and is a local broker located in Kirkland focusing only on Washington State clients. They are experts in this market and have built a solid reputation on their outstanding service.

Are these rates guaranteed for any length of time or can they increase as soon as I enroll? That depends. With individual plans you do not receive a twelve-month rate guarantee like you do with group plans. Depending on the carrier, rates usually increase once per year for everyone covered by the carrier regardless of when you enroll. With Regence BlueShield and Asuris this date is August 1^st, with Group Health Coop. that date is July 1^st, with Lifewise the date is January 1^st, and the KPS Health Plan cycle is May 1^st. Although the carrier can change rates at any time, all rate adjustments must be approved by the Insurance Commissioner and changes more frequently than annual are rare.