Health Insurance Quotes: Determine Your Most Important Needs First

By: Scott Lunt
Submitted: 2007-01-17 16:15:25
Print this article | Tell a friend | For publisher | Social Bookmarking
Rating:
 

Health insurance is especially important because of the high cost of health care these days. But the types of coverages available, and how much you pay, can vary quite a bit. Here are some things to think about if you are shopping for health insurance online.

1. Determine the most serious needs for you and your family. These would most likely be whatever could cause the biggest financial disaster in case of injury or illness. For example, do you need broad coverage for medical, hospital and surgical expenses?

2. Determine what other important features of health insurance coverage you need. For example, is it important to have preventative care in addition to catastrophic care? Do you need prescription drug coverage?

3. Decide if you want a fee-for-service plan or a managed care plan. With a fee-for-service policy, you usually pay for the services – such as a doctor visit – and then submit a claim form to the health insurance company to reimburse you for the expenses that they cover. The amount they reimburse may range from 100 percent to 80 percent of the costs. Also, you usually have a deductible and a maximum yearly limit to coverage. With a managed care plan you become a member of a HMOs, PPOs or POS organization. You receive financial incentives – such as no deductibles – with these plans and in return you typically must use the doctors and service providers in their network

When you start comparing plans between different health insurance companies consider:

1. The services covered. Does each plan offer the same services, or are the differences something you can live with. (Keep in mind, it's difficult to find the exact same plan between different health insurance companies.)

2. The deductibles, co-payments and maximum limits

3. How pre-existing conditions are treated.

4. If pre-authorizations are required.

Spend time shopping around. Get at least three quotes and ask questions. If you're still not satisfied, look into the possibility of group coverage with an association. Once you have health insurance, it's a good idea to periodically review your needs and make sure you're getting the right coverage for your situation.

Scott Lunt is a freelance writer with over 15 years experience writing insurance-related articles. You can compare health insurance quotes and find more tips on saving on car, home, life, health and long-term care insurance at LowerYourInsurance.com

Article source: Expert Articles

Most Recent Articles in Insurance category

  • Understanding Mortgage Terms - By: Liza Arwati
    In order to get the best deal on your home mortgage loan, it is a good idea to understand certain terms that are specific to the real estate and financial industry. The following are the common terms you're going to hear when applying for your first mortgage.
  • How to Shop for Auto Insurance - By: Justin Narin
    Looking for an affordable and reliable auto insurance provider? Learn valuable techniques to finding and choose a great provider.
  • Renters Insurance: Things to consider - By: Liza Arwati
    Most renters insurance offers full coverage to protect your possessions from flooding, fire, theft, vandalism and many other types of risk. Therefore, it is advisable to have a separate insurance to protect your belongings from damages and losses. It even claims for the injuries caused to the people who visit your home.
  • Get Discount on Homeowners Insurance - By: Liza Arwati
    It might a good idea to get it all together. Many insurance companies that sell homeowners insurance also provide auto insurance. They may offer a discount if you buy both policies from the same company. The discount could be as high as 10 to 15%. Be sure to verify that the combined price is lower than buying the different coverage from different company.
  • The Basic of Homeowners Insurance - By: Liza Arwati
    Homeowners insurance is an insurance policy you buy from the insurer to protect your house against theft, storms, fire, flood and all other causes explained in your policy. It allows you to transfer the risk associated with owning a home to the insurance provider and give you a peace of mind that your most valuable asset is, your home, is protected.
  • How to Budget on a Variable Income - By: Alex Rodriquez
    It can be challenging to create and keep to a budget when you know exactly how much money you have from one week to the next, but when you have variable income it can seem impossible.
  • A Brief History of Loans - By: Alex Rodriquez
    Apart from your house, your car is likely to be the biggest investment you make. As with mortgages, the high cost of the purchase will often require you to take out a loan to pay the vehicle off.
  • Medieval mercantile fairs - By: Alex Rodriquez
    Medieval mercantile fairs were one of the primary inspirations for the rise of banking in Medieval Europe. Merchants, or money lenders, would issue documents that could be redeemed at other fairs in exchange for hard currency.
  • The Origins of Banking - By: Alex Rodriquez
    Making the choice to get in shape is one that will pay off greatly in the long run. However, for many, this choice also means that they will be paying a large sum of money out of their pocket for gym memberships and personal trainers to actually get in shape.
  • California Healthy Families - By: Charles Peter
    Health is a very important issue today. In the present scenario, health insurance is a must. With soaring medical costs, we cannot afford to be without medical insurance.