Health

Continued from part one…

5. Have It Your Way!

Since you will have to live with the health plan of your choosing, it is important that it will work for and with you. Therefore, you should think through your wants and needs when it comes to coverage. For example, how important is it for you to pick your own doctors? If it does not really matter to you, then an HMO (health maintenance organization) may be a cost-saving choice. On the other hand, if you have a favorite doctor and wish to continue consulting this physician rather than picking someone else, you may wish to consider the pricier PPO (preferred provider organization).

6. Add-Ons

Some companies will bundle their products with other coverages, such as short- and long-term disability, prescription drug coverage, dental coverage, and vision coverage. If these are important to you, you should make sure the insurance company you want to do business with will offer them.

7. Out Of Pocket Expenses?

Take the time to look at the fine print. For example, how much are the co-pays? Is there an annual cap on the co-pays? Do these caps pertain to a calendar year or any 365-day period? In addition to co-pays, what is the percentage of coverage?

8. Accessibility

An insurance company should be easy to get a hold of, should have extended office hours, and naturally also a toll-free number. Give the company a call and get a feel for average hold times, times of operation, and also services offered via telephone.

9. Rating

Check out the insurance company’s rating with the Better Business Bureau. A company that has too many unanswered complaints does not need your business!

10. Rate Increases

Talk to friends and neighbors who are insured with the company you are choosing, or if you are working with an agent, search to find out how often the insurance companies has raised its rates in the last two years. This will be a fair measure of the possible rate changes that will await you once you sign on!

I hope all that information helped you!