There is no question that shopping for a health insurance plan on the internet is the most efficient way to find a good health plan. Certainly because of the high price of gasoline these days, shopping via the internet makes economic sense, too. (Actually, it isn’t necessary to interact with an agent face-to-face. A good agent can do everything that needs to be done through the internet, mail and the phone.)
Educate yourself
Sit in your easy chair and look at all of the different companies’ plans offered on the internet. You can compare the plans, get prices and learn a great deal about health insurance.
Find a site that explains the terms, and how the plan works and is dedicated to educating you so that you can make an informed decision. If the site has training videos, take the time to watch them. Watching videos is a very effective way to get up to speed quickly. After you have done your homework, call the agent. Does he listen to you? If not, you have the wrong agent.
Which comparison factors are important?
Here is a partial list of factors that you should consider:
- Is it a major medical policy, an accident policy, or a fee schedule policy?
- Is there an HSA or Health Savings Account type plan available?
- How does the plan handle pre-existing conditions?
- Does the plan issue elimination riders?
- Does the plan offer a high deductible choice?
- Does the plan cover mental health and substance abuse?
- What about the reputation of the carrier for paying claims?
- Do the doctors and hospitals in your area accept the health plan?
- Did I mention price? Price or more accurately, premium, may be the least important factor.
Take some time to learn. Is it worth taking the time? You bet! You will be spending a relatively high percentage of your income, so it makes sense to study and understand your options.
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6 responses so far ↓
1 The Mediterranean Diet // Jul 23, 2008 at 6:56 pm
If you can afford it, health insurance is essential. If you can’t afford it, look after yourself well until you can. It’s also true that these days, it’s smarter to look for your health insurer on the net. That statement doesn’t really need explaining.
The partial list (above) is good advice - thank you!
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2 Alan // Jul 23, 2008 at 11:50 pm
Great article. Nice tips on comparing Health insurance. My advice would be get the best agent you can. Get a referral or whatever. They make a big difference.
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3 Weight Loss Info // Jul 24, 2008 at 2:59 pm
I think that with the way the economy is going right now, there will be many people out of work looking to get health insurance on their own.
They will need your comparison list as they have always just had health insurance through their employer and are really pretty clueless about what to look for.
For me #8 is the most important. I lost my job last year so we lost my health insurance coverage but picked up my husbands and it’s so hard to find hospitals in the area that take his insurance.
Thanks for sharing your expertise with us
4 Sandy Morris // Jul 24, 2008 at 8:05 pm
As years go by shopping for health insurance has become very confusing. No 2 plans are the same and there are so many clauses.
Thanks for a good article - being a baby boomer drills home the point of better health being very important!
5 Baby Boomers // Jul 25, 2008 at 9:45 am
Very important to shop around and to know what the fine print says, after all theses companies are running a business.
6 Richien // Jul 28, 2008 at 11:22 am
I agree with you that getting a policy that allows you to see the doctors that you want to see and go to the best hospitals in your area is very important.
You might also contact an agent in your area to get a price for covering you on an individual policy.
As you probably know, the employer has to pay at least 50% of the employee’s insurance costs, but he doesn’t have to pay any money toward the spouse and kids.
Insurance companies make many extra dollars when you add the spouse and kids to the employed spouse’s insurance.
Get some quotes, you might be surprised.