Buying Individual Health Insurance
Hello everybody… I’m here to write some tips on buying individual health insurance that I think will be very helpful. If you’re looking for more tips, check out some of my other posts.
*Note: This is a review. Click Here To Get A Quote For Individual Health Insurance
If you’re reading this blog, it’s probably because you are looking to buy health insurance coverage and you’re wondering the best way to go about doing it. As with any other insurance product, the major concerns are lowest price (or highest value), best benefits offerings, and best claims service. I am going to take these into account when I give you my tips below. See my “definitions” if you’re confused about some of the terms I use.
Tip #1: What do you need health insurance for?
It might sound like an obvious question, but think about it. Now that you’re not tied to a group plan, you have some options. There are many options in individual insurance plans, so take advantage and choose wisely. Answer these questions:
How often do you go to for regular scheduled “check-ups”? If not often, do you need a low copay?
Do you like to go the emergency room “just incase”? Get a plan that cover it at lower costs.
Tip #2: Be realistic based on what you can pay. Answer these:
How much do you spend per year on insurance, on average? If you said, “a lot,” then go for a lower deductible, right?
If you needed $100,000 surgery, could you afford a $30,000 hospital bill? If not, 30% co-insurance may not be appropriate for you. Go for a lower % co-insurance, perhaps 0%. Same concept applies for your deductible. If you couldn’t put up your $5000 deductible to get your insurance company to cover the claim, consider paying a higher monthly price to bring your deductible down to a manageable level.
Tip #3: Know what you like and what you will pay extra for. Answer these:
Are you happy with any doctor or do you need to pick the one that you like? If you’re happy with anyone, save money with an HMO. If not, spend a little more on a PPO. Or explore the benefits/drawbacks of POS plans.
Do you want your mental health and physical therapy physicians to be covered? You might get some bang for your buck in this area, depending on the coverage that’s offered.
Click Here To Start Looking At Health Insurance Options
So, down to brass tax: Price. As in, how do you get the lowest price?
Well, the company “Lending Tree” has a slogan that goes something like this: “When companies compete, you win.” Same concept here – just compare quotes on a site that has a reputation for getting the lowest quotes from all the different companies. As you might be able to tell, I like ehealthinsurance.com (they use the least paper!). They always have the lowest apples-to-apples comparison quotes and also provide the biggest selection. Another good feature is showing the health insurance plans that sell the best. And unlike many other sites that I don’t like, when you apply for a plan and they send you the paperwork, it’s actually at the stated price. A couple of years ago, I got a great PPO plan from ehealthinsurance for $42 a month!
Originally when you search, you’ll be given a lot of options. Within those options you can search even more. You can search by company, plan type, price, and others. You can apply for more than one, but make sure you that when you do, you heed the advice given above. Good luck in your search!
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