When you are looking for health insurance it is important to do a health insurance comparison. Not all health insurance is the same! There are a wide variety of plans and price points; in order for you to get the right insurance, you should compare a number of companies.
You can compare online health insurance rates for FREE right now just by filling in your ZIP code where indicated!
There are a number of ways that you can compare health insurance companies and a lot of different things to compare. Health insurance isn’t something that you want to rush into because it is an important part of your financial budget and future. You want to make sure to get exactly the right company and policy.
Evaluate Your Health Care Needs
One of the first things you should do before you begin shopping for health insurance is to assess your health care needs. Does your employer offer group health insurance? Do you have a family, or are you getting individual health insurance?
Whether you have a family or not will probably be a big factor in the type of health care you need. It also depends on how often you visit the doctor and if you tend to be fairly healthy. If group health care is available that is often a better choice than individual insurance.
Keep in mind what your future may hold. If you are planning on having kids in the near future, you may want to find a plan that covers prenatal care and labor. If you are planning a future surgery, this will affect your coverage as well.
Types of Health Insurance Plans
Different health insurance companies offer different plans so it is important that you understand what the differences are. An HMO may be cheaper but it limits who you can see and what type of care you receive. With a PPO health insurance company you have more flexibility and are able to choose your own health care provider and care facility. HSA health insurance has a high deductible but lets you save money tax free to use for your choice of health care services and products.
You also should be aware of the different insurance terms. The deductible, co-insurance, co-payment, and plan limits are important when comparing different health insurance companies. To help you understand the variety of terminology related to health insurance you should visit the Insurance Information Institute.
Ratings of Health Insurance Companies
One way you can compare health insurance companies is based on actual consumer reviews and ratings. J.D. Power and Associates is a company that takes consumer surveys of different industries and shows the results.
For health insurance companies, consumers rate them based on categories such as provider choice, benefits and coverage, information and communication, overall experience, customer service, statements, the approval process, and how claims are processed.
The companies are rated between one and five, with five being the highest score. This makes it easy to compare the different health insurance companies. J.D. Power and Associates lists these ratings for each state since not all states have the same health insurance companies. To find the results for your state, visit the J.D. Power and Associates website.
Financial Ratings of Health Insurance Companies
Another good way to compare health insurance companies is by their financial ratings. Companies such as A.M. Best and Moody’s rate insurance companies based on their financial assets and financial outlook.
Once you have narrowed down a few insurance companies it is a good idea to go to one of the websites such as A.M. Best and check to see how the insurance companies compare financially. You want to choose a company that has a high number of assets so that they can easily pay for claims, not only presently but in the future as well.
Check Complaints Against Health Insurance Companies
You want to choose a health insurance company that is legitimate, financially stable, and held in high regard. You do not want to choose a company that has a lot of complaints against it from people like you concerning denied claims or poor customer service.
You can check out the Better Business Bureau or your state insurance department to see if there are any complaints against a health insurance company. Choose an insurance company with very few complaints. Ask around to see what people you know think of the health insurance company they have.
If you type your ZIP code in right here on this page you will have the opportunity to compare health insurance quotes for FREE from a variety of health insurance companies!