| The changing healthcare and health | | | | policy exclusions so that you will not |
| insurance landscape in the United States | | | | be surprised down the road if a claim is |
| has resulted in more individuals and | | | | denied. This is important whether you |
| families purchasing health insurance | | | | are purchasing a standard medical, |
| coverage on their own. Rather than | | | | temporary, or student health insurance |
| touch on the number of reasons why this | | | | policy. |
| is the case, I would like to provide | | | | 6. Does the insurance company you are |
| individuals and families finding | | | | considering have a substantial network |
| themselves in this position with ten | | | | of preferred doctors and hospitals in |
| basic ideas to assist them with getting | | | | your area? In addition to family |
| the best health insurance policy for | | | | doctors, what type of access will you |
| their specific situation. Below is a | | | | have to specialists and the best |
| combination of ten questions and | | | | hospitals in the event you or a family |
| suggestions that will provide the tools | | | | member is diagnosed with an illness that |
| necessary to get a medical insurance | | | | requires specialized care? Also, what |
| policy that will best work for you and | | | | are your options for preferred health |
| your family. | | | | care providers when traveling? |
| 1. What are your typical health and | | | | 7. If you need to go "out of network", |
| medical care expenses in a calendar | | | | will you still have coverage? Most |
| year? Most people are surprised when | | | | insurance policies will have coverage in |
| they go through this exercise to learn | | | | the event you need to go outside of |
| that they would be financially better | | | | their network for care. However, review |
| off in most years to purchase a high | | | | how these out of network claims will be |
| deductible health insurance plan and use | | | | paid. Will there be an additional |
| the premium savings to directly offset | | | | deductible? How are reimbursement |
| heath care expenses throughout the year. | | | | levels determined for out of network |
| 2. How long do you anticipate needing | | | | claims? What is your maximum out of |
| the health insurance coverage? For | | | | pocket for out of network claims? |
| example, many companies sell temporary | | | | 8. Are you looking for an opportunity to |
| policies that can be put in force for | | | | reduce your taxable income? If so, make |
| 1-6 months and they are relatively | | | | sure your plan qualifies as a high |
| inexpensive. If you are in between jobs | | | | deductible health plan and look into all |
| or in a waiting period for employer | | | | of the aspects of a Health Savings |
| coverage, this may be your best option. | | | | Account. In the right situation, HSAs |
| 3. What is your budget? If your budget | | | | can be an excellent way to pay for |
| is tight, having a $1000, $2500 or even | | | | eligible health care expenses, reduce |
| $5000 deductible is better than having | | | | your taxable income and save for |
| no coverage at all. The ability of | | | | retirement. |
| doctors and hospitals to save and | | | | 9. What are the financial ratings of the |
| prolong life in the United States is in | | | | insurance company you are considering? |
| many cases extraordinary. However, | | | | A.M. Best, Standard & Poor's, and |
| their treatment is not free and going | | | | Moody's are organizations that rate the |
| without health insurance coverage can in | | | | financial stability of insurance |
| some cases result in you and/or your | | | | companies. |
| family losing an entire life's worth of | | | | 10. What type of customer service will |
| savings and assets. | | | | you get from your insurance agent? Do |
| 4. Be careful to choose a plan that | | | | they specialize in health insurance? Do |
| covers the "big stuff". It is nice to | | | | they have a staff that is willing and |
| have a policy that covers items such as: | | | | able to assist you in the event you have |
| physician office visits, routine | | | | a claim, billing, or other customer |
| physicals, outpatient testing, and blood | | | | service problem? |
| work. However, it is essential to have | | | | If you do not have the time or patience |
| coverage for major services such as | | | | to look into all of the items mentioned |
| cancer treatment, transplants, critical | | | | above, develop a relationship with an |
| illness, traumatic accidents, and | | | | independent insurance agent that |
| infectious diseases. Find out the | | | | specializes in evaluating and servicing |
| lifetime maximum amount as well as if | | | | health insurance policies. A good |
| the policy contains "internal" dollar | | | | independent insurance agent will be able |
| limits. | | | | to save you time, money, and be an |
| 5. Always carefully read and understand | | | | excellent resource for evaluating all of |
| the pre-existing condition clause and | | | | the items mentioned above. |