What Consumers Need to Know When Buying Health Insurance Health
insurance protects you and your family from the high expenses you would
incur if you ever become seriously ill or injured. The decision to
purchase a health insurance plan, or medical plan, should be reviewed
carefully. The insurance plan you choose should be selected based on
your individual needs both now and in the future. Doctor visits,
hospital services, laboratory and x-ray services (including expensive
imaging tests such as CT scans and MRIs), are often covered by a
medical insurance plan. Additional features may be included and
purchased in a health insurance policy such as maternity benefits and
prescription drug benefits. Selecting and
purchasing a medical insurance plan can be confusing. For this reason,
you will want to obtain expert advice on which plan will best suit your
future needs. This will save you time and money overall by ensuring
that the medical plan will perform as expected. Getting
the expert advice you need about purchasing health insurance is easy
when you purchase through Affordable-insurance.com.
Affordable-insurance.com has licensed agents available Monday through
Friday 8 am to 5 pm to help you with your health insurance plan
decision. The cost of a quality health insurance agent is already built
in to the price of the health insurance. The professional advice you
receive from Affordable-insurance.com is free to you.
Who Buys Individual Health Insurance?
Typically, individual health insurance is suitable for people in the following situations: 1. You have exhausted your COBRA coverage through your former employer's plan or you can't afford the cost of COBRA premiums.
2. You are self-employed.
3.
You have a spouse or dependent covered on your group insurance and find
that it is less expensive for them to purchase an individual medical
plan.
4. You are a student and can purchase an individual medical
plan at a much lower cost than enrolling on your parent's
employer-based plan.
5. You have retired early (congratulations) and you need coverage until you reach Medicare eligibility. There
are many reasons to purchase individual medical plans. Call us today to
see if purchasing an individual medical plan is the right decision for
you or your family member.
Buy a Comprehensive Individual Medical Insurance Plan
When
you decide to purchase an individual health insurance plan you should
make sure that the plan is from a well-known insurance company and that
it is a comprehensive plan. Recently, there have been several news
articles describing the types of problems families faced after
purchasing a "discount medical plan." There are plans that only cover
very limited claims but are marketed as medical insurance. You should
always purchase medical insurance from a financially stable company. A
comprehensive medical insurance policy should pay up to one or two
million dollars in medical claims over the lifetime of the policy. The
health insurance policy you purchase should protect you from the bills
associated with a major illness or catastrophic event. The lifetime
maximum and the financial stability of the insurance carrier is the
most important feature of any plan that you purchase. At
Affordable-insurance.com, we only sell comprehensive medical plans
underwritten by financially stable insurance companies. Buying a Catastrophic Medical Plan Catastrophic
medical plans are defined as medical plans purchased with the intent to
pay for large medical claims and not necessarily the every day smaller
claims such as prescription drugs or doctor office visits. Our advice
to the purchaser who desires a catastrophic medical plan is to make
sure it pays at least one million in total lifetime benefits and has a
deductible of $5,000 or less. If you have cancer or significant heart
problems, it is easy to create $100,000 or more in doctor and hospital
bills treating your disease. A catastrophic medical plan will provide
significant financial protection against the high cost of treatment for
large medical claims. It is far better to have a catastrophic medical
plan than it is to have no insurance. Many people are surprised at how
affordable premiums are for typical catastrophic plans. Finding Medical Insurance When You Retire Before Age 65 Many
people who want to retire before they are eligible for Medicare
coverage have difficulty finding health insurance. The best answer is
often a good individual health insurance plan. In most states,
individual health insurance plans are rated on the basis of the
purchaser's age. Younger ages have a lower monthly premium and older
ages are required to pay more. However, monthly premium rates for ages
in the mid-50s and early 60s can still be competitive. For example, a
58 year old in Washington State can purchase a catastrophic individual
medical plan for less than $150 per month. Most plans pay up to two
million dollars in claims, and this provides good financial protection
against the high cost of medical bills. When compared to the cost of
extending the employer's coverage for 18 months as is allowed under
COBRA law, the individual medical plan is often a far better value. We
always tell those who consider purchasing COBRA coverage to compare the
cost of an individual medical plan in order to assure you have the best
value. Making the right decision in purchasing health insurance can
save hundreds or thousands of dollars in premiums over the long term. Rules When Buying an Individual Medical Insurance Policy Affordable-insurance.com
serves consumers in Washington, Oregon and Idaho. In each of these
states purchasers must answer questions about their health history
before a policy is issued. For the few that are turned down by the
insurance company for regular coverage, other options are available. In
some cases, you are not required to answer these health questions, and
the insurance company must issue the policy regardless of health
status. Because everyone has a different circumstance, it is an
excellent idea to utilize the advice of a professional. Don't forget to
ask us if your circumstances allow you to ignore the insurance
company's health questions. Even if you think you would have difficulty
buying health insurance, you should call one of our expert Customer
Service Agents for answers. You might be pleasantly surprised. Medicare Plans and Med Advantage Plans Medicare
coverage is provided to eligible US citizens at age 65, 66 or 67
(depending on the year that you were born); to those who have been
determined by the Social Security Administration to be disabled (at any
age), and to those who have end-stage renal (kidney) disease (at any
age). Once you have Medicare coverage, most people want a Medicare
Supplement plan to fill in the coverage gaps of Medicare. These plans
are also called Medigap plans. There is another option for those who
are eligible for Medicare, Med Advantage plans. Med Advantage plans
replace Medicare and often offer benefits that exceed those offered by
the typical setup of Medicare plus a Medicare supplement. However, Med
Advantage plans require purchasers to follow insurance company plan
rules. The rules range from requiring the individual the use a defined
list of doctors and hospitals to requiring the use of a primary care
physician. Again, it is of great value to use the advice of a trusted
professional. Also, the cost of professionals like the representative
at Affordable-insurance.com is built in to the cost of the premium. If
one purchases directly from the insurance carrier, the premium is no
less than if one purchases through an insurance agency such as
Affordable-insurance.com. Why Purchase a MedAdvantage Plan? Medicare
Advantage plans contract with the federal government and are designed
to reduce out-of-pocket expenses and provide more coverage than
traditional Medicare alone, providing all the benefits of Medicare
Parts A and B, plus additional benefits. The beneficiary continues to
pay the Medicare Part B premium as well as any additional premium
charged by the Medicare Advantage plan. These plans go by names such as
Regence MedAdvantage, Secure Horizons, etc. These plans offer a
tremendous value to many Medicare eligible people, however, they are
not for everyone. Call us today at Affordable-insurance.com to learn
more.
Why Purchase a Medicare Supplement Plan? Medicare
supplement plans fill in the gaps left by Medicare such as the Medicare
part A deductible, the Medicare part B deductible, prescription drug
coverage as well as some of the cost shares that Medicare requires.
Medicare supplement plans have fewer restrictions than Medicare
Advantage plans and are well suited to individuals who travel
frequently throughout the United States and desire a type of stable
coverage that has changed little over the past 20 years.
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