Health insurance is a crucial package of benefits your pocket book can't live without. Read on to learn why this coverage is important and what elements you should look for when you're shopping for a health insurance policy.
A most basic definition of health insurance explains that if you purchase health coverage and are sick or injured, depending on what is covered in your policy, you will only be responsible for a certain percentage of the medical costs. This type of coverage is intended to help you manage health care and medical bills.
"What should be in my policy?"
The perfect health insurance plan will include FIVE vital components:
-International coverage - Are you covered worldwide for non-emergency care?
-Annual dollar limit you can afford out-of-pocket - Make sure your pocketbook can handle your policy's annual maximum
-Ability to see specialists without a referral - If you or your loved ones have a serious or life-threatening illness, you don't want to have to beg for the best treatment.
-Vast coverage limit that shouldn't ever be exhausted, even for the most catastrophic medical expenses - A key idea to keep in mind when shopping for your health insurance policy is to find one with no limits, if possible. If this is unattainable, find a maximum policy limit of $1 million per claim or $2 million per lifetime.
-No internal policy limits - Do not purchase a policy that has internal policy limits.
"What coverages should I have under my health insurance?"
Your health insurance policy should include several coverages...
Physician's expense - covers your doctor's office visit or hospital visit
Hospital expense - takes care of room, board and services while you're in the hospital
Surgical expense - pays for any surgery related fees or costs
Major medical insurance - provides a very high maximum benefit formulated to protect you against losses from major injuries or illnesses
"Perks of health insurance?"
Double check your health insurance policy. It MIGHT include the following benefits...
- Vision
- Maternity care
- Preventive care
- Mental health benefits
- Prescription drugs
- Dental
"I know I need health insurance, but my company doesn't offer insurance packages. Where can I get a reasonable insurance quote?"
There are several insurance comparison web sites that allow you to quickly get an insurance quote - whether you're looking for health, life, home owner's or auto coverage. To receive an insurance quote online, most of the comparison sites will ask for personal information. It is very important to answer truthfully when you are filling out these applications. Otherwise, your insurance quote may not be as accurate as possible.
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