Monday, April 23, 2007

My Favorite Things: Health Insurance Shopping Tips

Shopping for health insurance is a real undertaking. There are so many confusing issues to consider. Luckily, tips are available to help sort out the details to aid in your search for affordable health insurance . Here are a few of my favorites:

1. Look at the company's history. Being new may mean the company does not have the financial backing necessary. On the other hand, just because a company has been around awhile doesn't necessarily mean it is safe.

2. Make sure their financial statements match the number of clients they have.

3. What will your monthly premiums be? Be aware, as there is a wide variance among insurance companies.

4. Make sure you are not overpaying monthly premiums compared to the amount of coverage you will receive.

5. Check the deductible. Find a health insurance plan that has an affordable deductible.

6. Will you have a co-pay?

7. Make sure the co-pay does not amount to what you would pay for a normal office visit. This really won't help to save money.

8. Will everyone you need to be covered actually be covered? You will want to make sure that your kids and spouse are all covered under family plans.

9. Be aware of the waiting period. There is often a waiting period before your coverage actually takes effect.

10. Know what is covered. Sometimes, some procedures, though necessary, may be considered as "cosmetic" and will not be covered. Be aware of what will actually be covered before going in to it.

Some good tips to keep in mind in your search for affordable health insurance .

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