People don’t know what they don’t know: That’s not the motto at The Insurance Source in Greer.
Maybe it should be.
“Folks might think: ‘How hard could it be? What could possibly go wrong if I do it myself or just call a number I see advertised on television?’” explains Guy Furay, who founded The Insurance Source in 2005.
“Well, a lot can go wrong – sometimes horribly wrong,” he says. “Worse, mistakes can be hard to correct and can have lasting consequences.”
Medicare, the Affordable Care Act, health insurance policies and health care are complicated, Furay says. Most people don’t know how to choose the policy that best meets their needs.
The best choice won’t be based on the words of a celebrity on television or made quickly out of frustration and anxiety about deadlines, he says.
Instead, people should seek help from an independent professional insurance broker, like The Insurance Source, Furay says.
“Our goal is straightforward. The company, my team … We make health insurance easier. That’s our mission statement,” Furay says.
“It’s our job to help you,” he explains. “We don’t get paid if we don’t do our job. … There is no additional cost to use a professional insurance broker. … If you choose not to use a professional insurance broker, you might be making a mistake because you don’t know what you don’t know.”
The complexities are many: What medications do you take? Do you have a doctor you want to continue to see? Do you have a complicated medical history? And, perhaps surprisingly, what is your income?
The deadlines are real, too.
With the Affordable Care Act, for those under the age of 65, the enrollment period to purchase an insurance plan, re-enroll in a plan or change plans is from Nov. 1 to Dec. 15 (for plans that take effect Jan. 1).
As for Medicare, most people enroll when they turn 65 or are no longer covered by an employer plan.
People who want to make changes to their Medicare plans must do so between Oct. 15 and Dec. 7.
Advertisements imply that one Medicare plan works for everyone, Furay says.
“We’re inundated with messaging on television. ‘Get the benefits you deserve.’ We hear it from Joe Namath and William Shatner. If we don’t see William Shatner, we see J.J. Walker.”
Those ads promote Medicare Advantage plans – one type of Medicare coverage, Furay says.
“There are reasons a Medicare Advantage Plan would be a good fit. There are also reasons Medicare Advantage would not be a good fit. It depends on what the person needs and what they want. I get to meet one-on-one with people and learn what’s important to them, then find the plan that fits them, rather than a plan that is mass-marketed to them,” he says.
A Medicare Advantage Plan can take the place of original Medicare A and B, which covers hospital care and medical care. People who choose original Medicare often buy supplemental insurance to cover gaps and co-pays and also buy prescription drug plans.
Medicare Advantage Plans are offered by Medicare-approved private companies. The plans may include benefits that original Medicare doesn’t cover, such as prescriptions, and vision, hearing and dental care. Advantage Plans may have lower premiums but limit the choice of doctors and require referrals for specialists.
“Some clients wouldn’t even consider a supplement because their Advantage Plan covers dental, vision, hearing, prescriptions. And it can have zero-dollar premiums,” Furay says.
“Advantage plans are not one-size-fits-all. They’re not equal. Your prescriptions determine which plan fits you best. We take the time to look through your prescription list to figure it out. If you want to keep your doctors, we make sure that those doctors are part of that plan.”
Some people prioritize being able to choose their doctor and hospital, Furay says. Others are content to go where their insurance company tells them to go, he says.
In addition, Medicare is undergoing significant changes. The number of prescription drug plans is changing – and so are the costs. Medications are becoming more expensive. And the number of supplemental plans and drug plans is multiplying.
ACA plans – where the premium is based on income, family size and location – can number in the dozens. And plans change every year.
“There is no way that the average person can know what plan is best for them,” Furay says. “The great news is that there are people like me, like my team, who really do care. And we get it right.”
Furay says that he and his team ask the right questions, know the new rules, scrutinize dozens of insurance plans from a multitude of companies, and make it easier for clients to compare plans. Options are displayed on spreadsheets projected onto an 85-inch screen.
“That helps you make the decisions that are most appropriate for you – not the ones that are most appropriate for the insurance companies.”
Furay, originally from the St. Louis area, once told his father that he wanted to be a salesperson – selling anything but insurance.
Nevertheless, he went to work for Blue Cross in Columbia, then Greenville, and ultimately opened his brokerage. He has seven employees, all licensed health insurance professionals. After years in downtown Greer, he moved The Insurance Source to 300 John Street, off Wade Hampton Boulevard.
He and his wife, Myra Ruiz, and their children are happy in the Upstate. And Furay is happy with his profession, despite his early protestations.
“Insurance has been the best career I could possibly hope for,” he says.
Furay recently received a 2023 Community’s Choice – Best of the Upstate award, presented by the Greenville News, greenvilleonline.com, and TALK Greenville magazine.
The Insurance Source sells “anything related to health insurance,” Furay says – life, disability, dental, employer benefits, long-term care and Medicare.
“We want you to be confident and live your best life without worry or fear about insurance. We love what we do because we get the chance to help people with something really important,” Furay says. “Just give us the opportunity to do that. You’ll be glad you did.”
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