Getting family or individual healthcare coverage can be scary if you are one of those who have always been insured by their company’s coverage. Below is you will find a tested procedure insurance agents use to help their clients find the right policy for their needs.
The 3 insurance aspects to focus on are price, coverage and the strength of the carrier.
Company- Your medical care insurance company should be strong financially and so you know that they have the money to pay your healthcare bills.
Quality of cover – The healthcare cover must cover you well. It should cover physicians, hospitals, labs and prescriptions. It should also have medical professionals and hospitals in their networks that are convenient to you.
Price- Your medical plan must be priced fairly relative to the benefits provided.
The basic procedure we use is to:
Determine which individual or family medical companies are worthy of being considered.
Determine which insurance plans offered by those health companies offer good coverage
Determine which policies have the best monthly cost relative to the healthcare insurance benefits provided
Health Insurance Companies
An individual healthcare insurance carrier should have good AM Best ratings and be in good standing with your state’s insurance department. You may also want to do a Yahoo! search for complaints.
You might search for “Mega Life and Health complaints” before completing an application with that or any other company. Every health care insurance carrier has some unhappy customers just by virtue of the volume of clients they have. However, a be warned if the complaints are too numerous.
One more thing to be concerned with is how much they pay in benefits as a percentage of the premium they take in. A quality company will spend about 80% of the money they take in to pay for their clients’ healthcare procedures.
Coverage – What does your medical care insurance plan pay for?
There are two important aspects of health care cover. One is the procedures that they pay for. The other is the network’s list of medical professionals that the insurance coverage includes.
Covered Healthcare Procedures
Your healthcare policy should cover you well and the hospital and should have a good lifetime maximum benefit. I suggest at least five million in insurance. You should read through your insurance plan’s outline of coverage or official brochure to see how doctors, hospitals and medicines are covered.
Health Care Insurance Exclusions and Limitations
Most if not all health insurance plans will have a list of procedures and services that are not covered. Most of the items in this section are reasonable and are included in the contracts of other companies also. Insurance plans typically will not cover cosmetic surgery for example. However, there are often exclusions that you might discover in one carrier’s plan but not in another plan. Pregnancy cover is one example of this. Generally insurance policies will not cover the costs of a normal pregnancy. The ones that do usually cost more when compared to otherwise similar policies that don’t pay for pregnancy. The exclusions and limitations section of your policy or its brochure should be read carefully before you commit to purchasing any healthcare insurance plan.
medical Insurance Provider Lists
Knowing which physicians are in your medical insurance coverage’s network is important for obvious reasons. You might be able to find a list of doctor’s who accept a given insurance plan online or by calling your medical insurance broker.
Premiums – Finding the best affordable medical policy
It is easy to compare individual medical care insurance premiums, but it is more difficult to make sure you’re getting good coverage for your dollars.
Comparing Health Care Insurance Plans
Not until you have crossed out the policies on your list that have poor benefits and/or a lousy list of medical professionals should you start comparing the prices of the policies
The Best Medical Care Insurance Coverage for the Money
The right medical insurance protection when an average person is considered, may not be the best plan for you. Often the best coverage is overpriced and does not offer coverage that justifies the extra that it costs. Make sure that any plan you decide to own is:
Provided by a good medical insurer
Will cover your health needs well