Health Insurance Quotes
|Child or Juvenile Health Insurance|
|Group Health Insurancee|
|Individual Health Insurance|
|Long Term Care Insurance|
|Medicare Part D Plans|
|Medicare Supplement Insurance|
|Mini Health Plans|
|Senior Health Insurance|
|Small Group Health Insurance|
When comparing health insurance quotes, there are several factors
that need to be addressed:
How many quotes do I need before deciding to buy?
It makes sense to shop from a variety of agents before you make your decision. We typically offer up to 5 different agent quotes, but one single agent representing multiple carriers may offer you as many as a dozen quotes to compare. Normally these comparisons are very straight forward and easy to examine. The short answer is that you should have a solid feel for costs and benefits after viewing a half dozen different quotes.
Do I choose an Indemnity plan or a Managed Care plan?
An indemnity plan lets you choose your own doctors and pays you for medical expenses totally, in part, or up to a specified amount per day for a specified number of days. Most widely offered managed care plans are HMOs. HMO members must choose a primary care physician from among the HMO member physicians. The primary care physician provides general medical care and must be consulted before you can see a specialist, who must also be part of the HMO. Another option is a PPO (preferred provider organization). A PPO has the same features of an HMO with regard to the managed health care packages, but PPO is a plan with greater flexibility that allows the patient to obtain the services of professionals outside the network in the times of necessities. PPOs are more advantageous than HMOs in that you get more choices and flexibility. The downside is that PPOs are often more expensive than HMOs.
Which type of plan is cheaper?
In general, managed care plans provide broader coverage at a lower cost than indemnity plans. However, indemnity plans offer certain advantages such as the freedom to use any healthcare provider you wish. Both can provide affordable health insurance depending on your particular situation, so be sure to carefully evaluate the pros and cons of each system.
What factors must I consider before making my decision?
Here are some important points to consider:
- What co-payments, deductibles and coinsurance payments are required.
- Can you choose your own healthcare providers.
- Does the plan cover the health services that you need.
- Does the plan cover the healthcare providers you are currently using.
- Does the plan offer both individual and family coverage.
- Does the plan cover preexisting conditions.
- Is there a waiting period on preexisting condition.
- Does the insurance company have a good reputation in the industry.
- Does the insurance company have a positive rating from a major ratings organization.
Compare your current coverage to those proposed by the agent that provides your quote.
Ask yourself if you are losing any coverages on the policy he or she is quoting. After reviewing any differences, ask if there are any optional coverages you should have that you currently don’t have. Remember….if you don’t ask about possible coverages, you may never know that you are missing a valuable coverage. Don’t buy on price alone.
Is it cheaper to go directly to an insurance company as opposed to working with an agent?
Buying through an agent won’t cost you any more than going directly to the insurance company. In fact, many insurance companies insist that you work with one of their licensed agents to ensure that you are getting the proper support.
What do I look for in an agent?
Insist on quality telephone support from your agent. You must have easy accessibility and courteous, helpful telephone help from the agent you select. Naturally the cost and benefits of the plan must measure up to your needs, and the manner in which the agent presents these aspects in a manner that is understandable. All of these factors are reliable indicators of a good agent.
What is a co-payment?
This is the amount you will have to pay each time you visit a health insurance provider (whether your primary care physician or a specialist).
What is the Deductible?
This is the amount you will have to pay toward your medical expenses before the insurance company begins to pay claims.
What is Coinsurance?
This is the percentage of your medical costs you will have to pay after you reach any deductibles that apply.