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Last Updated
Thursday, August 05, 1999 |
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Finding and buying Individual Health Insurance can be a very frustrating experience. There are several types of health insurance. These products range from Indemnity
plans to HMO’s. The follwoing grid illustates the choices in the spectrum. Adding to the problem is that prioced for similar products from different insurers can vary as much as 50% for the same person. Doing your homework can save you a
lot of money now, and more importantly, later, when you use your insurance. You can count on CASLTE GROUP HEALTH to do that work for you.
Most insurers sell their policies through independent agents. Some carriers, like Blue Cross, sell direct as well as through agents. Premiums are the same whether you use an agent or not. If you do
deal directly with an insurance carrier, you may be frustrated with the service. It's generally advisable to obtain insurance from an independent agent who represents several different carriers, if you
can find one. ( pardon our biased viewpont!)Take heed, some of the big-name insurance companies, that most
people associate with high quality products, don't have a good health insurance policy. Here are some features that you need to clearly understand in whatever policy you are examining.
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Key Items
- Coverage for both inpatient and outpatient expenses with a common, calendar year, deductible.
- Benefits based on Reasonable and Customary, not a fixed schedule
- Prescription coverage.
- A small, or no, application fee. No higher than $25.
- Know the preexisting condition clause, and what it means. Is there a waiting period for any coverages.
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Underwriting You should expect to submit the first month's premium with your application; If you are declined or change
your mind within a few days of issue, you can get your money back. Some carriers will require a blood test or a physical along with an extensive questionnaire. |
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