Private Health Insurance – Choosing the Right Policy for You

If you don’t have medical coverage with your employer for whatever reason, you may need to consider private health insurance. These days more Americans than ever before are choosing to buy their own health insurance, but that doesn’t mean it’s an easy process to find the right healthcare policy to meet your needs.

To be honest, it can be a bit of a minefield to navigate the complicated world of health insurance to make sure you find the right policy. But by doing some research and making sure you’re aware of all your options, or by using the services of a company such as MediGapAdvisors.com, you can make sure you choose the best policy for your needs.

Learn the Basics

If you’re considering buying your own health insurance, make sure that you understand the basics. Use websites such as the US news health insurance information website, where you can find information about all the available policies by the state as well as information on Medicare and Medigap policies.

You’ll be able to learn the basics whilst picking up health insurance terminology, which can be tricky to grasp if you’re new to the world of health insurance.

Go for Broke

Another good place to start researching your options for health insurance is by visiting one of the health insurance brokerage websites such as http://www.healthplanone.com/ – these allow you to compare quotes side by side from a panel of trusted and reliable insurers, so you can see which company offers the best value for money. By providing a small amount of personal information you can get a rough quote which allows you to make comparisons.

Seek Advice

It’s generally not a good idea to buy a plan based on online research alone and seeking assistance from an advisor or friends and family is a great idea. You’ll need to check with your state regulator that the company selling your insurance is licensed to do so in your state before you sign up for a policy.

You’ll also need to think about how affordable the monthly premiums are and look at any other fees such as percentage costs for hospital or doctor’s visits. You should also make sure that you’re aware of the ‘out-of-pocket maximum’ that the policy allows since this can vary from one insurance company to another.

Know your Limits

When shopping for health insurance, one of the most important things to be aware of is the policy’s benefit limits. ‘Mini-med’ policies may cap pay-outs, which could mean you’ll end up paying thousands of dollars out of your own pocket if you need surgery or have an extended stay in the hospital.

Some medical insurance plans will only pay a set fee for every day you spend in the hospital, which could leave you with a huge bill at a time when you need it least! Also watch out for policies that exclude coverage for specific conditions, or maternity coverage. You should always read the small print and if in doubt, seek professional advice as the experts will be able to recommend the policy that is best suited to your needs.

First-Time Buyers

If this is your first time taking out private health insurance, it’s a good idea to seek advice from several independent agents before you decide to buy, so that you can compare their advice and recommendations. You can find agents specializing in health insurance by asking friends and family or looking online at the National Association of Health Underwriters website.

Agents should always point you in the direction of an insurer who is most likely to accept your application – so it’s important, to be honest about your health and any pre-existing conditions from the start. This ensures that you’ll be matched with the best insurance company for your needs.

Once you’ve taken out your policy, you should still be able to contact your agent for advice and assistance, for example, if you decide to change insurers. It definitely helps to be informed about health insurance before buying, as it’s a huge commitment and you need to ensure you are able to afford the monthly premium and have selected the best policy for your needs.

By seeking the services of a reputable independent agent, you can make searching for private health insurance less stressful, as they will do the hard work, providing you with options that are best suited for your needs.

If you have an existing medical condition, an agent will be able to use their expert knowledge and experience to advise you which insurer is the most likely to accept your application.

Also Read: Smartphones are Good for your Health