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Personal Health Insurance 101

Personal Health Insurance 101

Personal health insurance is a form of health insurance you purchase independently. Although many employed people have health insurance coverage provided for them as one of the benefits of their company, there are still people who buy their own health insurance.

Personal health insurance is a must for those who are employees of a company that do not provide health insurances, those who work in between jobs, those who are recently laid off, the self-employed workers, and the newly grads who are not covered under their parents’ health insurance plan.

Many think that health insurance is something they cannot afford. But the truth is that having serious medical conditions without a personal health insurance is the one they could not afford. Here are just some of the benefits of having them.

First, it is flexible. There is a wide variety of options to consider including in your plan. With the help of a good agent, you could pick the medical offers that would suit you and your dependents best. Some of the best health benefits you could acquire would be prenatal and maternal care, and regular medical checkups. You could also choose if you want to pay a high deductible or low monthly premium. You could find ways to get a health insurance that would suit your needs and your budget. Also, having a health insurance gives you a peace of mind. If something bad happens, God forbid, there would be treatments readily available to you whether you have some money saved or not. Having a health insurance does not necessarily mean anticipating any future ailment. Rather, it is a form of preparing for the worst that may come especially during difficult times when money is not that readily available to you for costly medical treatments.

But of course, it would involve some risks. First, no one has the ability to predict what illness he or she would acquire. Personal health insurance does not cover every illness and treatment you might need. There is a possibility that you may get infected or sick with something not provided by your health insurance. Also, the more things you include in your plan, the higher you would pay. Since treatment rates seem to grow higher every year, health insurance plan costs increase as well.

There are a few things not everybody knows about health insurance. First, personal health insurance is underwritten. This means that if you apply for one, the carries would be looking into many factors like you age, gender, and medical history to determine the price they would have you pay for your insurance. Also, purchase a health insurance like you are purchasing an airline ticket. Instead of talking with each provider one by one, find a website where you would key in your needs and provide you with a list of possible health insurance providers as well as their similarities and differences. This way, you would easily find what suits you best. One important thing you should remember about your health insurance is that it always pays to be healthy. Not because you signed for a health insurance means that you would care less about your wellness because you have your health covered anyway. A health insurance may give you big deductibles when it comes to bills, but depending on the sickness and situation, you may still pay a large sum especially if the condition is way too serious. It would be best if you would not need the benefits of a health insurance instead of needing it because you got sick. It is better to be prepared for a battle you need not to fight. Also, health insurance for a child is generally cheaper. Assuming that he or she is in good health and has no pre-existing medical conditions, it would be cheaper to purchase an independent medical insurance than having him or her covered under your company’s plan.

Also, here are some ways to make the most of your personal health insurance. First, be reminded that you are paying for a health insurance instead of a sick insurance. Be active in leading a well and healthy lifestyle. Like mentioned beforehand, it is best to be prepared for battles you need not to fight. Lead a wholesome, stress-free and healthy life. Make advantage of the health insurance benefits built into your plan like routine checkups, vaccines, flu shots, and gym passes. Also, go talk to a nurse before heading straight to the doctor. You could actually save yourself from some doctor’s professional fee and from wasted time. If ever you have checkups, thoroughly and clearly describe your symptoms and the things you feel to your physician to be approved of the tests you may need.  Of course, health insurance companies would not want to incur unnecessary costs. If you show that the symptoms you experience are worth testing, they are more likely to approve your needed test under your health insurance benefits.  If your health is still doing well but the rates are going up, look and shop around. Many insurance plans, like car and house insurances, are initially cheap but get high every year. If your plan is increasing in rate and you are not in immediate need of one, go find a cheaper plan. Shopping around would help you make sure that your affordable personal health insurance stays affordable. Also, your surgeon is covered, but anaesthesiologist may not be. Before having your procedure, make sure that every doctor needed is covered. You would not want to be surprised with unexpected expenses when your hospital bill arrives.

So, if you have already decided to purchase a health insurance, here are the basic steps you must know. First, learn the health insurance language. Be familiar with terms like premiums, co-pays, deductibles, co-insurance, out-of-pocket max, lifetime max, and health saving accounts. Also, evaluate your situation. Determine what you can afford, if you prefer a coverage for preventive care or just for a sudden illness or accident coverage, the health insurance network that would your needs best, and if you are planning of having a child in the future. It is also a must to take advantage of free expert advice. There are websites that offer a guide to choosing which health insurance plan is the best in the midst of hundreds or even thousands of options. Keep in mind that honesty is the best policy. Be honest about your health conditions even if there is the possibility that your application would be rejected. You health care network would find out sooner or later, and once they do, they could legally cancel your health plan. It is always in your interest to be honest. Talk with your agent honestly and confidentially, and you may be surprised by the things you may learn. Also, opt for plans that cover your preferred doctors and hospitals. It is better to pay more for something you like, than ending up paying out-of-the-pocket because the ones included in your coverage are the doctors and hospitals that you do not find convenient and preferable.

Paying for a health insurance is always for your benefit. It prepares you for a battle you may possibly face sooner or later. But at the end of the day, like mentioned before, it is best to have a personal health insurance but keeping healthy and physically active as well in preparation for a battle you need not fight.

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