how to choose a health insurance plan?

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PostPosted: Tue Sep 23, 2008 2:55 am   Post subject: how to choose a health insurance plan?  

how to choose a health insurance plan?

yogesh0505
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PostPosted: Tue Sep 23, 2008 5:03 am   Post subject:   

Before deciding upon the health insurance carrier you're required to do a bit of research of yourself.



  • Before deciding for the carrier, you should delve into their history to know about their credibility, claim handling process, client satisfaction, complaints and such.



  • Also its important to learn about the financial stability of the insurer before signing the policy document.



  • You can check out with the business rating bureaus and also with the state's department of insurance to know about the insurer's market performance and rating. The insurer with a higher rating along with fewer number of clients' complaints, is likely to be your choice.
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PostPosted: Tue Sep 23, 2008 5:42 am   Post subject:   

While searching for the health policy, you should shop around for the price as well as for the benefits offered by the different insurer.



The premium rate even for same type of coverage varies widely between the insurers. Hence, comparison shopping is a prime requisite for the health insurance shoppers.



You may ask your physician for suggestions. It may be beneficial for you to choose the policy that your physician accepts. Also, pick a policy that offers a larger network of doctors to choose from.



~Jeremy

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PostPosted: Tue Sep 23, 2008 7:21 am   Post subject: how to choose a health insurance plan?  

Yes Jeremy, I agree that rate is an important determinant of choosing a policy, but one shouldn't put over emphasis on it while shopping for the insurance plan.



The premium rate of the policy shares a direct relation with the coverage benefits offered by the plan. Hence, a policy that is covering larger aspects may cost more than a regular plan with limited benefits.



Here is how to choose a health insurance plan;



  • what are the medical conditions covered by the plan?

  • does it allow the policy holder to visit outside the network physicians?

  • what portion of the cost you are required to pay out of pocket before the policy benefits kicks-in?

  • does the policy cover wider range of treatments, including modern treatments?

  • does it cover nursing home expenses?

  • does it cover prescription drugs?
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PostPosted: Sun Sep 28, 2008 6:19 pm   Post subject:   

Simple. Pick a LOCAL broker with at least 20 years of experience. If you're not sure, email me and I'll investigate and find some reputable brokers for you.

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PostPosted: Sun Sep 28, 2008 6:37 pm   Post subject: how to choose a health insurance plan?  

these are imp things that u have to consider.

Amount that you have to pay out of pocket before your insurance will start paying for part of the cost and

next choosing a gd plan i.e for how many years.

Most and main factor is the considertion of co insurance and co payments how much a insurance will be willing to pay policy taker payments(hospital charges).

nor mally insurance companies pay 80% of the charges.choose the best.

main factors u hsd consider are the copayments ,coinsurance and u r deductions.

then u can plan u r insurance depending upon your health condition.

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PostPosted: Mon Sep 29, 2008 7:21 am   Post subject:   

Hi yogesh, I'm sure that my fellow members have already solved the problem for you. Its important to evaluate your needs before purchasing the policy. Nothing is worse than if you find out at the time of need that the coverage is inadequate or is not providing you the desired benefits.



Apart from the above, you should also keep the price of the coverage in mind. Try to receive as many quotes as possible for the same worth of coverage to decide accordingly.



Along with the other, if you are exposed to certain health perils due to your job or heredity, you may require to maintain higher limit or special rider for better protection.



BTW, OhioHealthInsurance, its nice to see you back on board Smile



Regards,

Juanita

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PostPosted: Mon Sep 29, 2008 10:58 am   Post subject: How to choose a health insurance plan?  

Hi Yogesh,



Choose a plan that offers you maximum benefits. Settle for a plan that you think you will be comfortable with. However, do not go for a plan by value of the money involved alone. There are a lot of factors involved. It would be best to take help from a reliable agent (if you can get hold of one). Ask as many questions as you may want. Asking a few or all of these questions might help. Take a look:



• What will be the monthly premium to be paid by you?

• Are you entitled to any discounts?

• What are the deductibles?

• What percentage of reimbursement will you receive?

• What are the laboratories, hospitals and other care providers that you can use within the company's network?

• Which doctors are listed within the policy?

• Can you visit a doctor outside your policy network? How much will they cover in this case?

• What about going to a specialist?

• In case of a chronic disease, how will your plan treat it?

• Can you be entitled to a prescription drug plan?

• Are alternate medicines covered too?



Happy to help Smile

sil
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PostPosted: Wed Oct 01, 2008 11:11 pm   Post subject:   

Hi Juanita. I kept meaning to return but seemed to always forget. Now that I am back, I am going to post 200 times per day...starting in the year 2020.

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PostPosted: Tue Oct 07, 2008 8:03 am   Post subject: it is very simple  

first of all choose a well reputed insurance company then an expericned broker, who can give you all the details about that firm's insurance plans.

choose the plan best suit you.

thats it.

(edited for spam-lori)

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PostPosted: Tue Oct 07, 2008 10:54 am   Post subject:   

I hate to be critical, but ninatins...who would take you seriously after that previous post? By your lack of writing skills, it is clear you are not in the insurance business. Your link is designed to make money for you, and that's all.

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PostPosted: Sun Nov 08, 2009 5:00 pm   Post subject:   

This is a simple question. The answer is which company of the reputable health insurance companies (if you haven't heard of them don't buy it unless it is well known) gives you the most health insurance for the least money in your demographic. Meaning if everything is the same (deductible, and out pocket and copays) then go with the cheapest.


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PostPosted: Wed Nov 11, 2009 1:38 am   Post subject:   

with Health insurance particularly you are better to pay a little more to make sure you are going to get good service at claim time. You just can't afford to be in a position where you have to fight your insurer to pay a claim that should be simple.



Make sure you get the level of cover you need and that there are no restrictions or exclusions on cover that you are not comfortable with.



Often different insurers will take a different position on pre existing medical conditions depending on their severity etc. so finding one that will give you the cover you want is a very important step.



Don't only focus on price. While important, the best price isn't as important as the best VALUE.

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PostPosted: Thu Dec 10, 2009 11:58 pm   Post subject: health insurance  

(adding a thought or two..) I've been looking at different Health Insurance plans. GOSH...Health Insurance is really expensive!! With a few plans I've called about, I'm finding out you can't 'pick and choose' what you want. seems like you take what 'they' give or get nothing at all.

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PostPosted: Fri Dec 11, 2009 12:45 pm   Post subject:   

Mostly all good advice in the posts above. No one has mentioned "HMO" or "PPO" by name, although they have alluded to them when they write about choosing a plan that allows you to go outside the network (PPO) or not (HMO).



I agree with OhioHealthInsurance that an agent with lots of experience will likely be a better resource, but don't know that "20 years" is an absolute necessity. Regardless of the number of years of experience, you need to have a good feeling about the agent recommending what's in your best interest, not his. So you must not fail to ask, "Why do you believe this plan is better than any of the others?"



The insurers I've chosen to represent are all well-known and offer plans that are among the very best available, but each client's needs are unique and I have to find the two or three plans among all I can offer with the mix of benefits I believe meet those needs most closely first. Cost is a secondary consideration. I have specifically chosen not to represent a few companies whose business/claims practices or quality of payments to physicians and hospitals I don't like, even if they are "bigger" companies that people know by name.



I have no idea who/what "Kiran" is with his text message shorthand, but I think most of the other posters here would agree that "normally 80%" (coinsurance) is a thing of the past, except perhaps for some large group policies and Medicare Part B. Today, 70/30 is considered "the norm", but many policies have specific limitations on some benefits as low as 50%, and only a handful of individual plans cover things like maternity. Knowing what is and is not covered (exclusions), and to what extent, is usually more important than price. But one cannot overlook out-of-pocket costs as unimportant.



And when doing comparisons between plans, almost all companies have a "matrix" that compares the differences between their own plans. If comparing Company A with Company B, you put the matrix from each company side by side to try and find apples-to-apples in term of benefits, not price.



Here in California, the Insurance Commissioner has just published what he believes to be the first of its kind report card on PPOs. Our Dept of Managed Health Care has been publishing a similar report card on HMOs for 7 or 8 years. They may not represent how the same companies fare in your state, but generally the way a company performs in one state is going to be similar to how it performs in most other states. Using the Dept of Insurance in your own state as an information tool is always good advice. Perhaps more so than BBB or Internet bulletin boards.



Finally, no one has mentioned the use of Health Savings Accounts (HSAs) with a "high deductible health plan." Depending on your specific situation (single-married-dependents-health status-etc), this may be a viable alternative, too. Especially if you're healthy and don't expect to be using your insurance much beyond the occasional wellness check up, or a random bout with the flu or other temporary illness. Your ability to fund the HSA to the maximum level each year is important. Without that ability, the principal benefit of the HSA is probably not going to work.



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