Your ultimate insurance guide


5 Things you Must Know Before you Choose your Health Insurance!

Making a wise decision on which HealthThese days, you could have a serious disease
Insurance Policy to buy may seem like asuch as cancer, and never go into the
confusing task, but if you consider justhospital for it. You could rack up thousands
these five most important items you and yourof dollars in medical bills for the
agent will both find that you are a Savvydiagnostic and follow-up lab tests and MRIs,
Buyer! These items are your KEYS to picking aand then have surgery, chemo, or radiation
policy  that's  right  for  you:therapy  all  on  an  outpatient  basis.
1.  The  Insurance  Company's  RatingOther items that may be limited are your
hospital room rate and intensive care. Your
Ask your agent for the Company's A.M. Besthospital room rate should be at least average
rating. If the company is highly rated atsemi-private and your intensive care benefit
this national rating registry, then theshould NOT be tied to your room rate, but
company will have literature showing theirshould, instead, be covered as whatever is an
rating with an explanation of what it means.average ICU rate for the area of the
Choose only companies that have an A or A+hospital, also. Some policies limit the ICU
rating.benefit to 3 times the regular room rate,
when ICU can cost you 10 or 20 times the room
2. The Insurance Company's Record ofrate each day. A short hospital stay with a
Complaints  at  your State Board of Insurancelimit like this in your policy can cost you
literally thousands of dollars. A long
Every large company will have somehospital stay with a limit like this in your
complaints. Avoid companies that have a highpolicy could drive you into bankruptcy. Even
number of unresolved complaints. Ask yourif your policy says it takes over at 100%
agent for the phone number for your Stateafter $5,000 of covered medical bills, the
Board of Insurance. If he will not give it toimportant term here is "covered" medical
you, this is a warning signal! You can alsobills. If the policy only pays three times
look up the number in any directory of yourthe room rate for ICU, then the rest of the
state's agencies. No matter what your agentICU bill is considered an "uncovered" charge!
says, CALL your State Board of Insurance and
ask them for the record on any company youLook  out  for  these  types  of  limits!
are  considering.
Also, be sure to check the Pre-Existing
3. The Limits Shown On Your Health InsuranceConditions Limitation if you already have any
Quotemedical conditions, and ask your agent if the
Company will be excluding your conditions
Check your quote to see if you arepermanently  on  your  policy.
comfortable with the benefit levels. You can
usually change several levels to fit your5. Pay the Insurance Company, Not the Agent,
needs and budget. For example, a higher&  Follow  Up!
deductible will cost less each month. Also,
many plans give you a choice to split yourAnd lastly, make your check payable to the
medical bills with the Insurance CompanyInsurance Company, and then follow up to make
either 50/50 or 80/20 (with them paying 80%).sure it was received. When you get your
Then they will have an amount (your stoppolicy, check the Schedule of Benefits to
loss) where they will take over at payingverify you got the coverage you ordered, and
100% of your covered bills for the remainderthen check to see if any special Amendments
of the year. These deductibles and otherwere added to your policy to exclude any of
levels start over every year in most plans.your conditions. If an Amendment exists,
Some plans, though, have a "per cause"these conditions will always be excluded from
deductible. Such a deductible means that youthis policy, even after the Pre-Existing
will be responsible for bills up to thatConditions  Limitation  expires.
deductible for each accident or illness. Make
sure you are aware of this distinction, soFollowing these five tips will help you
you  can  choose a plan that's right for YOU!choose a health insurance policy which will
protect you from catastrophic medical bills.
4.  The  Limits  Revealed  Within  The PolicyYou may think, "Isn't that what any health
insurance policy is for?" Yes, that is the
Ask your agent for a sample policy, and thenreason for buying any health insurance
check two sections: The Benefits and Thepolicy, but, unfortunately, many policies
Limitations and Exclusions. Many of yourfall short of actually providing this
benefits are actually limited in the Benefitsprotection! Be sure to take the time to
section. For example, diagnostic testing orchoose wisely when it comes to your health
outpatient treatment may be severely limited.insurance!



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