As health insurance costs are increasing we have to proactive in making
our choices when it comes to choosing a health insurance plan. Health
insurance companies are constantly coming out with new health insurance
plans to stay competitive in the marketplace. New health plans offer
you flexibility to customize your own health insurance plan. Most
health plans in the past were packaged with features that some of use
did not need and some features that we did not know we had. We know
that car insurance offers us flexibility to where you can pick your
coverage limits, deductibles and the types of coverage that you want.
It is only when people could not afford their health insurance anymore
that insurance companies had to come up with new ways to make health
insurance affordable. The days packaged group plans that offered 5
dollar co-pays and pay for your gym memberships are over. Why pay for
the plan features that you are never going to use. Most of us and our
parents come from the world where large companies paid for their health
insurance plans. Large companies do have advantage of numbers; more
people are part of the group the more competitive monthly rates are.
First I want to address health insurance quote shopping. If you are
looking for some great deal on a plan that covers everything for small
monthly premium you are going to be very disappointed. Health insurance
prices are health insurance prices no matter what insurance company you
go with. The main difference in how insurance companies compete with
offering more affordable health insurance rates is by being more
creative in their plan designs. Stays away from "good deals" in health
insurance, chances are the plans are not going to cover anything when
you have a claim. Then you will end up with bills from the hospital and
a bill from your health insurance company.
Health insurance companies like Assurant Health underwritten by
Time Insurance offer health insurance plans where you have opportunity
to design your own plan. It is one of the only large reputable health
insurance companies to offer customizable health coverage plans. They
offer five plan designs two of them are Health Savings Accounts
qualified health plans and the other health plans are your standard PPO
(Preferred Provider Organization). What makes Assurant Health unique is
that every type of plan gives you opportunity to customize that plan by
choosing your co-pay or no co-pay option, choice of deductible,
prescription drug coverage deductible, dental discount plan or dental
insurance and plan specific options. If you are looking for simple to
use and simple to understand HSA plans, Assurant is one of the first
companies you should consider. Assurant formerly knows as Fortis was
the first medical insurance provider to offer HAS plans.
When designing your own health insurance plan keep in mind of your
previous health insurance usage. Choosing higher deductible for your
health insurance plans will make the largest difference in your monthly
premium. Keep in mind in most cases deductible applies only to when you
are hospitalized. That means when you are admitted to the hospital then
you are responsible for your deductible. Most health insurance plans
will cover your doctor visits, physical exams, prescriptions drugs and
your lab work with a co-pay before you meet the deductible. If you
choose a high deductible plan and something does happen to you that you
end up in the hospital for something major and you do not have money at
the time to cover your deductible. Every hospital will work with you by
offering you payment plans. In some cases you can take as much as five
years to pay off your deductible. There have been instances where
hospitals even waived the deductible. Therefore it does not make any
sense in choosing a plan with low deductible. Get health plans with
high deductible and you are going to save thousands on your health
insurance. Some companies like Assurant Health offer you option to
where if you choose a health plans with deductible of thirty five
hundred of higher you automatically qualify for two year rate
guarantee. Save money monthly and avoid rate increases. Just with
little knowledge and understanding of how health insurance works you
can save thousands with the health coverage that is based on your
needs.
