How to Buy an Adequate Individual Health Insurance Policy in 3 Easy Steps

InsuranceIn these difficult economic times, more and more people realize that they cannot afford to ignore the crucial importance of a health insurance policy. Even young adults who are perfectly healthy may be impacted at some point by a disrupting event, in the form of an accident or a chronic illness, which could put their welfare and even their lives on the line. Those who are not insured are exposed to greater risks, including delayed medical attention and huge expenses that could leave them buried in massive debts. If your employer doesn’t offer you the kind of health coverage that you need and deserve, don’t hesitate to start your own quest for the best value individual health insurance policy in your price range. To save time and money in the process, just take a closer look at the simple guidelines listed below, provided to help you find the most suitable policy in 3 simple steps.

First Step: Evaluate Your Needs

First of all, start by assessing your own needs and demands. Do you have a preexisting condition that you would have to list in your application? Are regular checkups a necessity in your case? Do you need to consult several specialists (chiropractors, therapists, surgeons and so on) on an annual basis? Do you take prescription medication? Once you find the best answers to these questions you can determine the type of coverage that you should invest in.

Second Step: Get Free Quotes Online

The health insurance buying process can be quite lengthy and complex. Don’t try to save time by going in favor of the first plan that is presented to you by a certain agent. Do a little research on your own and try to compare different policies in an objective manner, in terms of costs and benefits. To attain your goal, it is advisable to rely on Insurance Quote Depot to compare health insurance rates by zip code.

Keep in mind that the price tag attached to a particular policy is not everything. In other words, don’t just analyze premiums. Dig a little deeper and try to estimate the out-of-pocket expenses that you may have to deal with in the long run. Find out what certain policies cover and what they don’t. This is where it gets tricky: if a certain element is not listed in the “excluded benefits” category, this doesn’t mean that it is automatically covered. As a general rule of thumb, insurance companies don’t cover treatments or any other interventions that are not considered a “medical necessity.” Moreover, certain plans don’t include maternity coverage, while others do not cover the medical expenses triggered by pre-existing conditions. This is why it is advisable to read the contract multiple times before signing on the dotted line. Make sure you read the info related to your deductible (the amount of money that you would have to take out of your own pockets on an annual basis). Remember that certain plans come with multiple deductibles (for instance one deductible for each and every family member). Proper research can help you spend your money wisely and address a larger category of risks that could threaten your general state of health. Last, but not least, note that it is certainly not recommended to be dishonest when it comes to talking about your medical history.

Don’t try to hide pre-existing conditions; lies told to your insurance agent that are also listed in your application can invalidate your future claims. Furthermore, if you get rejected by a certain carrier for one reason or another, you should most likely disclose this fact in the applications that you may fill out in the future.

Third Step: Identify the Best Insurance Agent

Firstly, it would be advisable to rely on info provided by your state regulator to find out whether or not the company that is trying to sell you a plan is a 100% legitimate insurer. This is, by far, the simplest way to avoid scams and bad investments. Don’t shake hands with an insurer unless you are certain that his company has a spotless record. Also, it is advisable to opt for an agent who represents a plentitude of carriers, not one who is loyal to just one company and whose purpose is to make you buy a particular policy that may not be what you actually need and demand.

Don’t hesitate to conduct a small investigation on your own. Ask different agents how they are compensated for their services; typically, they receive a commission from various insurers for every single policy that they manage to sell. The commission represents a percentage of the premiums paid by the newly recruited client and usually range from 3% to 20%. In some cases, commissions may reach higher rates during the first year of a health insurance policy. This is precisely the reason why numerous dishonest, greedy agents could try to talk you into switching to a new policy after the first year. Be very cautious and make sure you get a pertinent, perfectly logical explanation for all the terms and conditions or potential changes that you don’t understand. A good agent should be fully aware of your financial limitations and health problems. Moreover, a competent one who actually has your best interest at heart will ask questions related to your eligibility for Cobra subsidy or various other government programs that benefit you, but don’t fill his pockets.

At the end of the day, extensive research will pay off. You can make a smart investment only if you manage to identify, interpret and assimilate accurate info related to a certain insurance plan. To avoid confusion and misguided purchases, start by getting free, accurate quotes online. Compare health insurance rates by zip code, find the best carriers and the most attractive deals, schedule an appointment with different agents and walk away with the best value individual health insurance policy that works best for you and your entire family.

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