Friday, January 14, 2011

Health Insurance: How To Stay Ahead Of The Game

Health insurance is a complex subject, often far more difficult to understand than home insurance or life insurance. The rising cost of health care has caused health insurance rates to rise, but to be without insurance is to risk financial ruin if a serious sickness of injury should occur. Think about the cost of just one visit to a doctor – that is bad enough. Now consider the financial implications of a major illness. Keep the following points in mind when looking for health insurance.

  1. Shopping around to find the best healthcare insurance is essential. Even if you are employed and are part of a group insurance plan, check and see if the coverage you have is enough and if not get a policy of your own to supplement it.
  2. Comparing health insurance plans is difficult – there are no standard coverage plans. Costs and benefits are variable and you need to prioritize the health coverage that is important to you and ensure that this is what you get.
  3. Keep in mind that a low premium may not always translate into the cheapest insurance. A low premium may not have prescription coverage or check-ups and urgent care may not be covered.
  4. Low premium plans often restrict the doctors, hospitals and labs you can use. It’s worthwhile to pay a little more and have a wider selection, such a paying your family doctor’s bill or going to a hospital that you know and trust.
  5. Often spouses are both covered by employer provided health care plans. It is a good idea to examine the coverage each offers and the cost / contribution to be made and focus on the best option with supplementary insurance to cover any missing areas.
  6. Also when looking for a healthcare plan, consider your need for additional coverage like dental care or mental health coverage.

These are just a few points to consider. There is much more about health insurance and the layman can easily get confused when balancing the pro and cons of different policies. It’s always better to consult a professional insurance broker like Allied Brokers. With 50 years of experience in insurance and a reputation for client service, their reps will begin by understanding your health insurance needs, presenting you with the various options in a clear manner and helping you to choose what is best for you. Visit the Allied Brokers website at http://www.alliedbrokers.com/ or call them on (650) 328-1000 to learn more. You can also request for a free health insurance quote online.

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