Health Insurance Tips

Health insurance is one of the most important aspects of life, and far too many people live without it. But the risk of going without insurance can be too great, as many experts attribute the rise in bankruptcies directly to healthcare costs. If you are searching for health insurance quotes, be sure to consider each of these tips:

Research and compare insurance providers

There are some online resources you can use to compare insurance carriers and find out about their track records. Your individual state's laws will have some bearing on consumer ratings and overall company ratings. Look over the data you find, which can help you further understand the insurance quotes you'll receive.

Know the laws in your state

The extent to which you can buy personal health insurance, and how much it will cost you, depends on the laws of your state. Some states have regulations related to medical underwriting, which means that an insurance company could reject you because of a pre-existing condition or a past illness. Or, those issues could result in your approval for insurance, but with much higher premiums. Be prepared for these possibilities first by looking into your state's laws.

Decide what coverage options you need

Health insurance is more complicated than you might think. Depending on your needs, you might require more coverage than someone else. Your health status, comfort with risk and budget will all be factors in deciding how much coverage you need.

Some health insurance policies cover only "necessary" coverage - which can be defined in a variety of ways. Some might limit your coverage to emergency visits, or simply office visits, and could exclude "extra" services such as laboratory services, x-rays, MRIs, CT scans, and visits to specialists. Be sure you understand the limitations and extents of the insurance quotes you receive, and compare those to the coverage you wish to receive.

Know your deductibles before filing a claim

One of the fastest ways to have insurance premiums rise is to file lots of claims - sounds counter-intuitive, right:? Unfortunately, this is the case throughout the insurance industry. The more claims you file, the bigger the insurance risk you're considered. That's why it's important for you to carefully consider whether it's worth filing an insurance claim for a variety of office visits.

For example, if you go to the chiropractor, it might not be to your benefit to file a claim. Here's why: If your insurance copay is $25, but the chiropractor only charges $30 for an office visit, it might be better for you in the long run to forego the claim and just spend the money out of pocket. Of course, it's up to you to determine when it's best to file a claim and use your insurance benefits.

Understand your benefits

Too often we think of insurance costs as just related to the premium. But it's much more than that - particularly with health insurance. You should look at not only the premium, but also the deductible and the copay/office visit costs for the days you visit your doctors. You also should review prescription costs as well as whether services such as laboratory work, vaccinations and x-rays are covered in your policy.

Get a Medical Exam

It's important to get a medical exam before you purchase your health or life insurance policy so you know what your insurance company will charge you for premiums. If you are seen as more of a risk, you will be charged higher premiums. For example, people with high cholestorol, heart disease, depression, chronic headaches and all other risks will not be eligible for the best insurance rates. By getting a medical exam you may be able to change your lifestyle to improve your health and get better rates. If you are a smoker or heavy drinker, you might consider cutting back on your habit.


Compare quotes

After you've received quotes from different health insurance providers, it's time to carefully look over them and compare the coverage. Look at both the premiums and the deductibles, and decide which quote offers you the best options. You might want to look at your existing healthcare bills, and incorporate those realities into each quote you receive - that way, you can compare dollar-for-dollar how much your costs will go up (or go down) with insurance.