Choosing Health Insurance
Cost – An obvious point, what you can afford monthly will determine the type of coverage you can get.
Type Of Plan – Indemnity (fee for service) most expensive, Preferred Provider Organization (PPO), Health Maintenance Organization (HMO) or an HMO Point of Service (POS) plan.
Type of Contract – A true individual policy has stricter regulations of protection for you by the state insurance commissioner, as compared to a plan written through a trust, association, or fraternal organization.
The Insurance Company – In today’s changing financial market it is important to obtain coverage from a reputable financially sound company with a good rating and strong reserves. Saving a few dollars monthly by obtaining coverage from a smaller less financially sound company is not a good idea.
Plan Design – Cost sharing (what you pay) includes; co-pays, coinsurance, deductibles, etc., and covered benefits or services. All plans are not equal, we can help you understand the differences, in our area you hundreds of plan designs to choose from.
Networks – HMO’s are more limited in number of medical providers. PPO’s have more in network providers and even out of network benefits.
Underwriting – Companies handle health conditions differently, we can help you understand how your medical conditions will be evaluated.
Guaranteed Renewable – Be sure this is in the policy. You can cancel the plan but the insurer cannot so long as you pay your premiums.
Get multiple quotes – Compare at least three plans.