Helpful Hints when Shopping for Individual Health Insurance

 

Make sure when deciding on an individual health policy, you shop
around and get many options to consider. Policies can range in what
they cover and cost dramatically, so make sure you get the best
plan that fits your needs for the best price. Don’t get suckered
into all these extras that you don’t need because it will cost you
some serious cash. Make sure to contact several groups and are able
to sit with an agent and compare all of them. The policy should
protect you from large medical costs like hospitalization and
emergency treatment. Understand the policy thoroughly and make
sure it is what you need. You don’t want to find out later that it
didn’t cover something you needed. Make sure you check to see when
the policy starts paying and what is covered and excluded. Always
check to see if there is “free look” clause that allows you some
time to review the policy at home and make sure it fits your needs.
That way, if you decide it isn’t what you want you can return it
and get refunded your premium. Make sure to watch out for single
disease policies, these are very disease specific and not needed if
you have a regular medical plan. Most major medical plans cover all
diseases that are acquired after the purchase of the insurance.

Always remember to read your application, especially if the
insurance representative completed the application for you. This
allows you to make sure all the information is correct and exactly
what is being submitted. The company can decline the policy if
information was not disclosed on the application that was required.
All health plans have a provision titled “Exclusions and
Limitations.” Make sure you read that section over carefully for
your policy so you know what to expect. If it doesn’t cover some
things you know you might need or want coverage on, then don’t buy
this policy and keep searching. If a benefit or service is limited
or excluded, you will not be covered even though treatment may be
considered medically necessary.

In addition, before an insurance company will accept you as a
potential policyholder, the company may want to know if you have
any pre-existing illnesses that require constant treatment and
care. They might want to place an exclusionary rider on your policy
for a specified condition. If the policy is issued with an
exclusionary rider you will be responsible for the cost of any
medical care received for the treatment of the excluded condition.
This can pose a problem if that is why you want the policy, so be
sure they will cover any already existing medical needs you might
have. Individual policies generally pay benefits for your spouse,
and on your dependent children up to the age specified in the
policy. However, your insurance company cannot terminate coverage
for dependent children who lack other means of support due to
mental or physical handicaps.

Some individual policies contain both In-Network And Out-of-Network
benefits at different percentages (In Network 90% vs.
Out-of-Network 60%). The insurer is not required to pay the
Out-of-Network provider at a higher percentage and it will be your
job to pay this if you chose to go outside of your network. Use
caution when making the decision to utilize an Out-of-Network
provider for medical care and Treatment. You may find yourself
paying more than you anticipated. Most groups have an array of
medical persons in all branches to choose from or are referred to.
It is a good idea to look at the handbook of providers in your area
to make sure there are plenty of doctor available in your area. It
would also be a good idea to see if they accepting new patients
with the insurance you are considering purchasing. Buying a policy
would not be a good idea if none of the doctors are taking new
clients at the moment and you have to travel completely out your
town to find a doctor who can see you. Make sure that you know
whether or not your particular plan requires referrals to other
care providers from your general practitioner. If you choose to see
another doctor with out a referral you can find you will be paying
that bill completely.  Find more Helpful Hints when Shopping for Individual Health Insurance…

DISCLAIMER: This information is for educational and informational
purposes only. The content is not intended to be a substitute for
professional advice. Always seek the advice of a licensed Insurance
Agent or Broker with any questions you may have regarding any
Insurance Matter.