Health Insurance

Health Insurance

Tips to Help You Find the Right Health Insurance

Buying an individual health insurance policy can be a daunting experience.  It might seem a little overwhelming, especially if it’s the first time you’ve ever opted for anything other than an employer-sponsored plan.   With a bit of planning and preparation, though, you can find the policy that fits your lifestyle perfectly.

The following are some tips to get you started:

Understand State Regulations
If you’ve recently moved or relocated from another state, make sure you understand the rules and regulations for your new location.
Coverage requirements may vary depending on geographic location.

General Health Status and Pre-existing Conditions
Unlike employer-sponsored plans, which typically accept everyone, individual health insurance is often based upon a plethora of individual considerations, including age, weight, height, pre-existing conditions, family medical history, prior medical history and even credit score. Answer all questions honestly when applying for health insurance and work with your agent to find a policy that meets your needs.

Compare Costs
Read the fine print to determine if you need every benefit or if the policy is missing important features you may need. For example, it is often possible to save money by excluding certain benefits such as maternity coverage, but be sure you won’t need excluded benefits anytime soon in order to avoid surprises.

Understand Caps, Limits and Exclusions
Explore more than the monthly payment before making a final decision. Ask your agent to explain lifetime caps, limits and exclusions that may impact the policy, then make adjustments to suit your needs. Remember to take inflation into account, especially when selecting a policy with a low lifetime cap. Once you are diagnosed with a condition, it may become much more expensive to purchase additional coverage if you exhaust your existing policy limits.