Are the top rated health insurance companies affordable?
When you’re looking for the best out there one usually expects to pay more for great service. This isn’t always the case. Most health insurance companies have a wide range of plans to fit any budget and lifestyle. Being approved for a policy may be tougher than actually finding an affordable plan.
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Knowing what to look for in a plan is a good place to start. Those companies that are top rated usually sell the most policies and have the best customer reviews. It’s important to consider everything before signing on with one company.
Who are the top rated U.S. health insurance companies?
According to CNN News, Fortune 500 has listed 11 top rated health insurance companies on their list of top 500 companies in the U.S. They range from ranking number 22 to 493 on the list of 500. Fortune 500 uses several different methods for ranking but they usually focus on revenues and profits from 2010 as well as percent of change from 2009.
The following companies made it in the Fortune 500 list for 2011 and are in no particular order:
- Health Net
- UnitedHealth Group
- Universal American
- WellCare Health Plans
- Coventry Health Care
What are the different plans offered by top rated health insurance companies?
What sets other health insurance companies apart from others is their flexible plans that are affordable. Those companies who can achieve this end up with happier clients who stay with them.
Many of the top rated health care companies offer health insurance to families, students, and individuals who are under the age of 64. Those that offer insurance to those 65 and older either use Medicare supplemental insurance or fee for service plans. Many offer prescription plans alongside their health insurance plans.
Many people have the option of joining their employer’s health insurance plans. Some of the top rated companies offer health coverage to businesses at great rates. Employer health insurance plans are usually more affordable than individual health insurance plans.
Most of the group health plans offer traditional benefits along with consumer driven benefits. These can include:
- Behavioral health benefits
- Pharmacy/prescription benefits
- Networks for specialized health needs such as heart disease and cancer care
Another benefit of group health insurance through an employer is specialty health insurance. This can include:
- Life insurance programs
Some of the top rated insurance companies also offer group health insurance that covers retirees and international benefits.
There are specialized products for those who are within retirement age or even those who are retiring early. These can include:
- Medicare supplemental coverage
- Prescription drug coverage
- Retiree reimbursement accounts
For those who end needing overseas health insurance, some companies provide this specific coverage. Many people don’t know that their health insurance only covers than in the U.S., but some group health insurance plans can help find services that extend beyond these borders.
What should I look for in affordable health insurance?
If your employer doesn’t offer a health care plan than look into managed health care plans. While you may have to sacrifice some of your flexibility, you can at least find a plan that is affordable and covers your basic health insurance needs. Any plan that uses HMO or PPO is going to be more affordable rather than those that don’t. While your options for health services is limited to the insurance companies own list of preferred providers, you’ll still be able to get what you need.
How can I make my coverage more affordable?
Knowing what you need for coverage every year can be beneficial when choosing a plan. For those who won’t be having frequent visits to a doctor or the hospital, raising your deductible to reduce your monthly premium might be a great option.
Many groups and clubs offer group health insurance. If you belong to a group that has health insurance for members, it’s a good idea to look into the rates offered by the insurance company.
There are policies that have extras not needed for each individual. Check to see if you can build and redesign your insurance plan for a more cost effective policy.
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