Laser surgery? Extra dental benefits? Free contacts? Really cheap life insurance?

Sorting out the real deals

While we can't really give advice, we can tell you how to pick and choose the coverage that works for you and your family. And one approach is that of a smart shopper, looking in the benefits marketplace.

Like most of our members, you probably get between 10-50 pieces of junk mail a week, plus many unwanted emails/spam. You may also receive "free" offers from organizations to which you belong or from your credit card company. With the widespread use of web access, commercials about smart shopping/rate or plan comparisons are run frequently on the TV or radio.

In all of these materials and come-ons, some probably deal with benefits, whether life, dental, health or vision. Since the Trust offers you dental, vision and life among other benefits (not health/medical), we'll focus on our area of expertise. The timing is especially important to us since the companies that insure your vision benefits will be announcing laser surgery discount plans soon. And the plans are tied to the vision plans in which you're already enrolled, so incorporating which laser discount program is best for you isn't a factor now ... but you always have a choice when you look to the marketplace.

Benefits are the first step and should be used first, especially if the cost is shouldered elsewhere, but discount programs are different. With a discount program, you may want to think of it as having a coupon, but only good at a certain store. It's incumbent upon you to evaluate if that offers the best possible product at a reasonable price, whether for a laser surgery discount or a new life insurance policy. Sometimes not using a discount plan will yield a lower cost for the same product or procedure.

So you may want to approach the laser surgery discount programs and all the informational come-ons like a consumer. But how do you apply this approach to benefits or insurance?

Start thinking about your plans and your needs, and asking yourself some probing questions. What benefits best meet my needs? What discounts should I look for? What should I buy? What should I steer clear from? As you ponder the issues these questions raise, you should think about your needs and projected expenses.

How to sort through it all

Now, ask yourself the following:

• What do I already have? Audit the plans that are provided to you by the Trust, a spouse's employer, or anything else you have by virtue of your employment or participation in an organization.

• What do these plans cost me out of each paycheck? Are there deductibles I must meet before I see any benefit? If coordination of benefits exists, how does that feature work? Knowing the "total" cost will give you a better perspective of how much you spend on benefits.
  
  With the Trust's basic life, dental and vision plans, the monthly premium comes from the Trust - nothing comes out of your paycheck. You should review the plan documents for full details on deductibles (dental) and other plan features.

For instance, in life insurance coverage for you and your family, it may be that you need to increase your coverage, because you're "underinsured." You might also find out that you're carrying coverage above and beyond the basic recommended level. The Trust doesn't recommend either, but rather, you finding the right mix you can live with. Decreasing coverage is easy, however, if you feel you need to increase your coverage, here are some more steps to follow.

As a consumer, you deserve all the information you need to make an educated decision.

If you think you have a need for insurance or more insurance,

• Read the details of the plan you're considering carefully.
• Call the sponsoring company for details.
• Do some research on the company.
• Ask your friends and family what they've heard about the company, or who their insurer is.
• Contact the State Dept. of Insurance to see if complaints have been filed.
• Is there a licensed representative or otherwise authorized company agent available to discuss your needs or answer any questions? Try that person too.

The chestnut of a deal sounding too good to be true often applies. For instance, in a life insurance advertisement, the fine print may show that the rate lock is good for one year, and after that, "re-entry" would be evaluated. Re-entry means that a physical would be needed every year to stay in the plan, and the outcome of the physical would determine the rates EACH YEAR as well as whether or not you can still participate.

Back to discount programs ...

If you think a discount program is beneficial, read the details on participation closely:

• Is there a fee to participate in the discount plan?
• What conditions must be met to obtain the discount?
• Is this a special introductory offer, subject to change when the introductory period is over?

Another critical question to ask is what is the cost of the item without the discount from the provider or other providers in the marketplace? Would a "sale" or other "coupon" (such as that on eyeglasses) exceed the value of the discount? (Usually the two cannot be combined, but it doesn't hurt to ask.) Talk with the company offering the discount program for answers to all these questions.

The good news is that we're here for you. While we can't give advice, we can help you sort through the details of the coverage we offer, and that could be the first step toward making good consumer-oriented benefits decisions. Contact Trust customer service.