When it comes to purchasing health insurance, it is as important as choosing a proper Life insurance for these two are always interrelated. Picking up an appropriate health coverage plan will surely be easier if you have a fair bit of idea of comparing various types of health insurance policies and plans that are being offered. However, having a fair idea about various types of health of medical insurance policies is not enough – you need to know the ways of comparing various insurance plans so that you can opt for the right one.
– You can speak to your employer regarding the medical insurance coverage that is provided by him. Your employer will naturally provide the best and the most comprehensive options. Go through all the terms and conditions and put down your signature.
– If you are currently unemployed or if you have been sacked, the best option for you is going through the COBRA or Consolidated Omnibus Budget Reconciliation Act. In case you have been sacked, you even have the option of extending your coverage up to even eighteen to thirty six months, by using the same insurance group that your ex-employer has.
– Another way of comparing various types of health insurance schemes is hiring an agent. An experienced medical insurance agent will be able to inform you about various types of schemes available and will explain you the pros and cons of each of them. Accordingly, you will be able to opt for the one that will suit your purpose the best. You can also go through the website of NAHU or National Association of Health Underwriters to get a lot of information about different types of medical insurance schemes in details.
– You can go through various FFS or Fee for Service websites that will be of immense help. A number of PPOs or Preferred Provider Organizations, POS or Point of Service & HMO or Health Maintenance Organization plans of insurance and evaluate their pros and cons to select the one that will suit you the most. However, while doing so, find out the number of visits to the doctors they will cover, the types of medicines they will cover and find out the maximum ceiling (if any) of coverage and of course the amount of premium required. For example, if you opt for the FFS scheme, the amount of premium required will be on a higher side. Again, when it comes to the situations when a specialist is required, you need to look for the medical insurance scheme that will serve your purpose.
– You will have to evaluate the amount of coverage the health insurance plan you opt for, has on prescription drugs. You can do it by taking into account the drugs that you normally and frequently have to purchase for certain prevailing ailment and see which one of the plans that you have zeroed on meets your requirements the most.
– Look for the one that has the best renewal clause. This is the clause that makes a lot of difference between an average medical insurance scheme and a good one. Opt for the ones that would facilitate automatic renewal without any increase in the rate of premium.
– Last but not the least; you need to take into account the time a particular medical insurance scheme it takes to solve your medical issue. Avoid those health insurance schemes that will make you wait for ages before you can visit a doctor while there are the ones that will help you to seek immediate medical attention.