Why Understanding Your Health Insurance Can Save Your Life

Monday, November 3, 2014 | 8:18 pm

Is your healthcare coverage up to par with what you really need? If your insurance plan falls short of your expectations or is not accepted by your doctor, the frustration can lead to a panic attack- when you’re not even covered!

Insurance coverage is a must. In this world filled with uncertainties, preparedness makes all the difference.

But what if you just choose to opt out of any insurance coverage? Or, what if part of that “world filled with uncertainties” includes how to get insured and how to pick the right plan?

John Barrett, an expert on the health insurance industry, said this may cost you more than when you pay for the premium. Especially so with the Affordable Care Act.

In his article “Penalty for Not Having Health Coverage Can Be Thousands of Dollars,” Barrett wrote; “If you’re opting out of the health-care coverage required by the Affordable Care Act, make sure you understand how much you’ll owe Uncle Sam as a result.”

In 2004, Mr. Barrett created the concept of Health Insurance Brokers to help individuals after he noticed an upheaval in the health insurance industry, and the subsequent trend toward consumer driven health care.

He specializes in providing creative health insurance solutions to the self-employed, individuals seeking personal coverage, companies with 2 to 100 employees, and to seniors seeking advice on Medicare related solutions.

When asked why he decided to get into this industry, Barrett said “there are no old investment bankers and traders. I started in the securities industry in 1972. I went through the chairs of being the youngest broker, the youngest manager, the youngest regional manager, the youngest this the youngest that- of course until I became the oldest!”

Barrett said there came a time when “I didn’t want to do it anymore! It’s a young man’s game.”

In addition to acting as a health insurance broker, Barrett is a frequent consultant, regarding current trends in health insurance and the overall health insurance brokerage industry, to a number of national consulting firms, independent securities research firms, investment advisory and private equity firms. He also provides background information on the subject to major newspapers, such as the Los Angeles and New York Times.

“I [do] the background information for KNBC, KABC television, and the news, and CNN radio on health insurance. Whenever you see something quoted and it says, ‘according to a health insurer …’ usually that’s me.”

Barrett offers expert advice to help you determine the right insurance carrier and individual plans that answers your needs.

If you have questions, please call the author John W. Barrett at (626) 797-4618.


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