Our Bloom Advisor Team receives a wide variety of questions from our members as we help them navigate through a new way of choosing and buying their health insurance. One of the most common questions is, “How much coverage is enough?”
It’s a great – and not easy to answer – question. Defined contribution brings a new choice and empowerment to our customers – but it also reveals how tricky it can be to determine exactly what level will meet your needs today and in the future.
So, how can consumers strike the right balance between ensuring they have the necessary coverage to pay their bills when they are sick, but not so much where they are wasting money on coverage they don’t need?
In a perfect world you’d have just enough coverage to help pay for all of your out-of-pocket medical expenses, both anticipated and unanticipated—this includes everything from routine exams, prescription coverage, and minor illnesses, all the way to emergency-room visits, surgery or disease treatment. Without knowing what might fall in the “unanticipated costs” category, you might have to make some tough choices.
That’s where Bloom can help.
If you’re a Bloom member, our technology does the work for you. Our assessment—designed with the help of behavioral psychologists and scientists—helps recommend health plans that we’ve identified as a good fit for you.
By answering a few questions that only take about five minutes to complete, Bloom can assess a member’s health status, financial situation, and appetite for risk—all factors that help us recommend a health insurance plan that will be a good match.
As an Advisor helping our members find that perfect plan, they’re tasked with an important, and sometimes difficult, job. But we’re seeing our members enrolling in plans that can actually meet their coverage needs – as we like to say, no more one-size-fits-all approach. And in a world of expanded choices, it’s a lot easier to find a plan that feels like it was made just for you.Tweet