Common Questions about Health Insurance

health insurance coverageHave you ever wondered how you would be able to cope with the long list of negative consequences triggered by an accident or a chronic illness? If you are not insured, you would have to spend thousands of dollars on hospitalization, special treatment and therapies ensuring a fast, smooth recovery. Moreover, most people tend to think that uninsured people get the medical attention that they need anyhow, so in their opinion buying health coverage doesn’t really make much sense. This is a very common misconception that should not cloud your judgment. Individuals who do not benefit from a health policy are exposed to many risks. They are often forced to wait a long period of time for the treatment and medication that could save their lives. Make no mistake: lack of insurance can force you to deal with sky-high medical expenses that could leave you buried in massive debt. Naturally, the insurance buying process is not always as risk and pain-free as we would like it to be. To facilitate your insurance hunt, we have complied a list of Q&As that could help you make an inspired purchase.

Why Should I Spend My Money on a Health Insurance Policy?

Moreover, lack of a private health insurance can limit your access to the medical specialists whom you need to see, put your recovery at risk and even reduce your lifespan. These are all great reasons why you should start looking for an adequate policy as soon as possible. Even if you have coverage provided by your employer, this doesn’t mean that you shouldn’t consider investing in a private health insurance policy that is obviously more flexible, portable (you can keep it even if you choose to quit your job and accept a new offer from a different employer) and tailored to your real needs and demands.

How Do I Know If I Really Need to Get Private Health Insurance?

Private health insurance is not a legal requirement, so only you can decide whether or not you want to invest money in this safety net. This type of policy typically covers essential out-of-hospital medical services including speech therapy, dental treatment, ambulance, podiatry, home nursing, chiropractic treatment, contact lenses, glasses and occupational therapy.

Am I Instantly Covered As Soon As I Sign on the Dotted Line?

Unfortunately, this is not how it goes. There is a certain waiting period that you should factor in. In other words, you can’t shake hands with your insurer and then decide to file a claim the next day. This is a preventive measure taken by insurers who want to make sure than people can’t buy insurance, file a claim as soon as possible, get their hands on a significant amount of money and then drop the coverage right away. In the absence of a waiting period, insurers would be forced to increase premiums for all their clients.

Can I Change My Insurer?

The answer is yes. Nothing can or should stop you from making the most of an ideal policy. If for some reason or another you are not satisfied with the services provided by your insurer, you are free to switch to a different carrier at any given point in time. Nonetheless, if you opt for a superior coverage you may have to wait a while before making your first claim.

Can I Get Accurate Quotes without Meeting an Insurer?

You’ve probably heard this a million times: you have to get quotes from at least 3 different insurers to be able to make a smart decision. But this usually means that you have to waste a lot of time and energy. You can follow this approach, or you can do your homework in the comfort of your own home, by relying on fresh info provided by Insurance Quote Depot. This is your best chance compare insurance rates by zip code with a few clicks. Once you know the rates, you know what to expect and you have all the details that you may need in order to make an inspired purchase.

Can My Assets or My Savings Stop Me From Becoming Eligible for Medicaid?

In the past, Medicaid was not an option for people with valuable assets. At this point, this limitation seems to be a thing of the past. The Affordable Care Act is removing asset tests, meaning that people who meet current income requirements may actually become eligible for Medicaid, even if they have assets, savings or different other resources that would blocked their access to Medicaid in the past.

What Is a Deductible?

A deductible is a particular dollar amount that your insurer will ask you to pay out of your own pockets every single year. Not all plans come with a deductible. There is no standard rule here, but generally speaking, most Health Maintenance Organization plans do not require a deductible, unlike the great majority of Preferred Provider Organization and Indemnity plans. If you have any questions on your mind related to the amount of money that you would have to put on the table, it is always advisable to discuss this topic with your favorite insurers who may shed some light on this matter and help you buy the policy that works best for you.

There’s one more thing that you should know. It is always recommended to get free, accurate quotes online before buying any type of insurance. This is the key to protecting yourself against the manipulative practices of skilled insurers who may guide you towards the most expensive coverage, which is not necessarily the most suitable one for you. However, keep in mind that it would be preferable to buy all the coverage that you need (homeowner’s insurance, car insurance, motorcycle insurance, life insurance and more) from the same carrier, to be able to profit from considerable savings. Don’t change your insurer unless you are certain that you can find better deals elsewhere. As long as you follow all these steps, your success is guaranteed. Keep in mind the fact that health insurance is a necessity, not a luxury and find the right policy for you today.

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