It is indeed easy to make a private health insurance comparison if you are looking for coverage. It involves the collection of quotes from different private health insurers based on the same criteria and simply comparing them on a variety of factors. Online quote tools like the one on this page make it quick, convenient and easy.
Get health insurance quotes now by putting your ZIP code in the FREE quote tool to set the process in motion!
Private health insurance companies offer plans so that those who do not have the option of workplace group health insurance plans and are not eligible for government plans can still have health insurance coverage. However, knowing what to look for and how to choose the best plan for you does take an investment in time.
What should I know before I start looking?
Before you start looking for private health insurance coverage, it is important to learn about the different terms you will encounter in your search. Words and acronyms like deductibles, out-of-pocket expenses, in-network providers, HMO health insurance coverage, PPO health insurance plans, HSA insurance options and more can prove very confusing. The Insurance Information Institute can help you get a grip on these terms before you start shopping for coverage.
In addition, you need to know what exactly you are looking for in private health insurance coverage before you shop around. Do you visit the doctor fairly regularly? Do you have any ongoing or anticipated health issues? Do you just want coverage in case of a serious accident or illness?
You also need to ask yourself questions about the financial side of the equation. Would you rather trade in some of the risk of more comprehensive health insurance coverage for lower premiums? Would you feel more at ease with a higher monthly payment knowing that in the case of serious health issues that you would not have a high out of pocket expense?
How do I evaluate health insurance companies?
When you are looking at the different private health insurance quotes you get, it is important to not just compare the price you are given, but to evaluate the company too. Not all health insurance providers are created equal. Therefore you want to be diligent in choosing one that will treat you well and will be around long term.
You can check out private health insurance companies according to how they treat their customers by doing an online search for reviews or complaints about the company. It is very easy to obtain this information. Remember though, that those who are dissatisfied are much more likely to comment than those who are content with a company. Be sure to factor in the amount of complaints relative to the size of the company.
You can also find out how an insurer fares according to consumers by checking a website like the Better Business Bureau. Such organizations exist in order to monitor how businesses treat their customers.
To evaluate the financial strength of a private health insurance company, get rating information on it from one of the independent insurance ratings companies. A.M. Best, Standard & Poor’s, Moody’s and Fitch Ratings, amongst others, exist to rate insurance companies according to how well they can handle their present and future financial commitments. Be sure to choose companies that have an A or better rating if possible.
What steps are involved in making a comparison?
Making a private health insurance comparison is an easy three step process.
Thanks to the internet, what used to take a significant amount of time can now be done quickly. Here are the steps you need to follow.
- Step one is to prepare to get your quote. Make sure you understand health insurance terminology so you can make the best choices. Know what you are looking for. Be aware of your own health information, such as weight, height, and dates of hospitalizations.
- Step two is to actually get the quote. Use an online quote tool that collects your information and simultaneously submits it to a variety of insurers so that you can get all the quotes you need based on the same information and the same type of coverage.
- Step three is to compare the actual quotes. How much will the premium cost for the entire year? Are there differences in policies from one company to another? How does the company itself fare when compared to others?
If you have done these three steps, you will easily arrive at the right conclusion. The process will unveil which quote is the most reasonable and the most reliable to fit your needs.
See what health insurance plans are offered by private insurers by typing your ZIP code in the FREE quote tool now!