Choosing a health insurance policy for your family is difficult. The terms are complicated, the cost is high, and it can create a financial impact. If you take the time to break the task of choosing a health insurance policy down, working through it can be a much simpler process.
Make a List
Consider the type of health that you are in. How old are you? Do you have a family history of heart disease, cancer, or other life threatening illnesses? At the minimum, it is possible to buy a health plan with a high deductible. While this is not the best coverage available it will at least cover the costs of any catastrophic event that may occur.
State Regulations
Determine how insurance is regulated in your state. Many state websites will have links to health insurance sites. The site will typically offer advice on how to compare different policies and the companies that are allowed to sell health insurance in your area. It will also state which of these companies sell individual health insurance policies.
Affordable Care Act
The Affordable Care Act has already started to come into effect, helping many individuals obtain health insurance. It is important to read about the changes that have been made in the health care industry based on these policies. Insurance companies are no longer allowed to impose a lifetime limit on their policies. Additionally, insurance companies must pay for one well health check each year, including the co-pay of the visit. The full act will not be implemented until 2014, but many statutes have already come into effect. It is important to check your rights before purchasing a policy.
Comparison Shop
Perhaps the most important thing to do when purchasing a health insurance policy is to comparison shop. There are several websites that offer online quotes or you may contact a health insurance agent in your area. Remember, each company will offer a number of different policies. It is important to compare the individual policies.
When comparing policies consider what is included in the policy such as surgery, hospital care, doctor’s office visits, ER visits, immunizations, x-rays, mental health care, maternity coverage, dental, eye, well-baby care, prescriptions, and medical tests.
Consider what is not covered by the policy as well. It is important to read through the policy carefully to determine the type of coverage that is being received. If you have any questions it is important to contact an agent from the health insurance company to get the questions answered. This is an extremely important decision that affects the whole family. Taking the time to fully understand the policy and the coverage that is being received is extremely important.
Frank Harrington writes about how to do a health insurance comparison over at InsuranceComparison.net.
