The United States of America has one of the best but costliest healthcare facilities in the world. It also has the dubious distinction of being the only OECD country which does not have a universal healthcare plan.
When consumers buy individual health insurance,
the whole responsibility lies on their own shoulders—they need to make sure that the level of coverage is optimal; the costs are affordable; and the use of health insurance plan is easy. It, certainly, is not an easy task to do. However, with some tips and understanding, consumers can become apt in the art of purchasing individual health insurance to their satisfaction.
Experts suggest that before finalizing any health insurance policy, individuals should make sure they understand the terms and conditions, including level of coverage, benefits, limitations, and other factors. This gives a sort of control over the pricing of the policy—most of the times, consumers does not know what they are paying for, which is of course, not a very good position to be in. It pays to ask questions, read the policy thoroughly and discuss.
Here are some tips to buy individual health insurance:
1. Never buy an individual health insurance policy that sounds the cheapest—it may be cheap in its quality also. A lot of consumers end up paying premiums for a policy that is unsuitable or non-optimal for their coverage needs. Remember that the minimum amount that you pay to get a desired level of coverage is the cheapest individual health insurance policy for you.
2. All individual health insurance policies are not created for the whole of consumers—they could be different for your colleague and you should not despair if the costs involved are also higher. More often than not, companies allow customizing the individual health insurance policy based on your individual needs.
3. Before buying individual health insurance, make sure you have assessed your needs thoroughly. If you are looking to have dependents, it is necessary that you understand the medical needs of your family members.
4. The premiums of individual health insurance policy may increase based on the health status. An insurance company may refuse to provide coverage or increase the premium. If you have a serious health conditions, it is economical to try if Blue Cross will insure you.
5. The costs involved in an individual health insurance policy depend on the level and type of coverage that you purchase. However, in every state, there are certain types of screen tests and medical services that are mandated to be offered without costs. You should make sure that you know what are those coverage types according to your State, and ensure that the individual health insurance policy offers that.
6. With the implementation of healthcare reforms through the Affordable Care Act, health insurance industry is going through a make-over. Equip yourself with the most updated information about rules and regulations that are changed. It helps to be informed before you make the purchase.
7. Lots of companies offer discounts if you pay annual premiums for individual health insurance policies. Once you have decided to buy a particular individual health insurance policy, you can decide to pay the premium annually to avail this discount.
