Friday, March 30, 2012

Top 7 tips for Evaluating a Health Insurance Policy

It can be difficult to navigate the maze of private medical insurance. In order to secure the best protection for you and your family it is important to be aware of a vast and ever-changing body of law and practice. It is no exaggeration to say that your financial and medical future depend on it. Here are seven tips to help you evaluate a health insurance policy.

 1. Take it seriously.

There is no way to over-estimate the impact these decisions have on you and your family. You may feel fine today, but it is a law of nature that someday you will not. It is then that your planning, or lack of planning, will show. Even though Americans can no longer be denied coverage for pre-existing conditions, the moment of need is no time to worry about policies and money. You owe it to yourself to prepare, and if you do not you will certainly regret it.

2. Consider the doctors in the network.

Make certain that they are accessible and competent. Look for reviews online. If you have a doctor who you are dedicated to but is not in the network be sure to budget extra funds.

3. Check the co-pay against the premium.

A low co-pay is wonderful thing but not at the price of a high premium. Take a guess at your average yearly medical expenditure and see how it works out with that plan. If you rarely visit the doctor it makes more sense to pick a plan with a low premium and save a little money for emergencies.

4. Comparison shop.

The only way to be sure you get the best is to know what is out there.

5. Look for details.

There's more to health than emergency care. Don't forget eyes, teeth, or maternity; all things commonly left out of plans.

6. Check the plan for changes.

Health care law and insurance policy change every day. Even if you are using the same provider as last year, check the fine print and make sure it is the same plan.

7. Trust your instincts.

If you see a lot of things in a policy that raise warning flags, heed them. If a contract has one thing that you find unethical, it's a good bet that there are others that you have not seen yet. In a very real sense you are putting your life in their hands. Do not do business with agencies that you do not trust.

Eddie Adams is a Content writer with an interest in topics relating to health, cosmetic dentistry, tourism and green living. You can follow him @thefreshhealth on Twitter :-)

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1 comment:

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