Medical Insurance

• Appropriate Care
• Consumer Choice Products
• Comparing Plans
• Fee-for-Service Plans
• Managed Care
• Medical Savings Accounts
• Pre-existing Conditions
• What is Not Covered?
• What Happens to My Insurance if I Loose My Job?
• Frequently Asked Questions
• Other Information

Considerations in Choosing Medical Coverage

• Stick with insurers that insure large numbers of people and who have been around for awhile.
• Consider if the policy includes preexisting conditions.
• The policy needs to have major medical coverage (hospitalization, physicians, x-rays, laboratory work…).
• Consider your choice of healthcare providers. PPOs and HMOs restrict which physicians you can receive care from.
• If you see a provider outside of the network, coverage is reduced or absent.
• Consider the lifetime maximum benefit. The minimum benefit should be a million dollars. The benefit is the maximum amount that the insurance company will pay towards your medical costs over your lifetime as long as you are covered by the plan.
• Consider co-payments and deductibles. Ask yourself what is the highest deductible and co-payment that you can afford.
• Consider the maximum annual out of pocket figure. This is the maximum amount of deductibles and co-payments that you will be responsible for in one year. After your maximum out of pocket is reached in a year, the plan pays 100% of all other costs during the year.
• Be sure to get a guaranteed renewable policy so that you will not have to prove good health each time you renew.

With rising health costs, everyone should have medical insurance. Even the wealthy can be devastated financially by a long term debilitating disease. Most people obtain medical insurance coverage through their employers, causing their premiums to be much lower than if the insurance was bought privately.

SEE ALSO:

• Insurance.PreferredConsumer.com - Health Insurance