Health Insurance Policy Choices
This is a big question. If you are shopping for health insurance on your own you will have a wide range of factors to consider. Even if your employer provides you with health insurance, you may have multiple plans to choose from. How do you decide what's right for you?
The most important thing, before deciding on health insurance, is to ask yourself the right questions:
Can I afford health insurance?
The bottom line is the amount of the premium. If the premium is more than you can afford, but you are still interested, perhaps you can tailor the plan to fit you. Are there options to insure only large health expenses? If your family is in good health, you could gamble that you will only need coverage for large health expenses, such as 'emergency' situations, and tailor your coverage that way.
State policies on insurance vary widely. Some states require that insurance companies cover everyone, regardless. This means that the risk is spread over everyone, and your premiums will be the same as everyone else's even if you are young and healthy. In this case, your options for a lower price policy will be limited.
You might have to look for a job which has health insurance as a benefit in this case, if you can't afford premiums.
What am I expected to pay?
It's not just about the premiums you pay for health insurance. It's also about the costs that you incur when you use health services. What is the deductible? What percentage of the health expense (minus deductible) will I be reimbursed? These are also important considerations, especially if you or your family members are frequent users of health care services.
Does this medial insurance plan cover the services I (or my family) use?
If you have seen a Chiropractor for years you will likely want this to be a covered therapy. Not all health insurance plans cover alternative health practitioners - check the fine print.
Not all health insurance plans cover preventative medicine. If you'd rather take action before you get sick check your coverage.
Also, be sure that the medial insurance will cover you for your pre-existing health conditions. If it doesn't, or it has a waiting period, be sure you understand how that will impact you and your family.
Health insurance plans may also restrict your ability to change doctors, see doctors outside of the plan or get access to specialists. Read the fine print.
If you are interested in starting a family it's critical to understand whether the health insurance covers the costs of prenatal care and delivering the child. Unfortunately, in today's litigious society some health insurance plans have moved away from providing these kinds of coverage.
Don't forget to look at the other pages like: Health Insurance, how do I choose a health policy, group health insurance and individual health insurance, health insurance questions, long term care and save money health insurance to make an informed decision.