I figure it’s about time I had some coverage. My employer doesn’t provide health insurance, but will pay for half of what I choose. I’m a healthy mid-30s male, non-smoker, rarely drink, and I get plenty of exercise. I’m not concerned about getting sick, I haven’t needed to go to a doctor in 15 years, I just want the insurance as, well, insurance. Just in case something bad happens.
How do I go about picking a health insurance provider? What should I look for? What should I watch out for? Help!
I have a pamphlet that covers all those questions, would you like me to scan it and email it to you?
Sure, that’d be great. My address is in my profile. Thanks.
I work primarily with employer-sponsored health plans, so I don’t know too much about individual policies. But, hopefully I can give you some basic information to help you find the right plan for you.
First, there are some basic questions you need to ask yourself. Are you looking for a plan that only covers emergency care? Or, are you looking for a more comprehensive plan that covers routine care, such as physicals, examinations, prescription drugs, etc.? Do you have any dependents to cover or are you looking for an individual policy only? How much are you comfortable paying per month? You mention that your employer will pay half of the premiums. I’d be surprised if they don’t cap this at some amount – you might want to confirm this.
Generally speaking, catastrophic plans that provide emergency care only will have lower premiums than comprehensive plans but often they come with higher deductibles (the amount you must pay out of pocket before the insurance plan will pay any benefits) and perhaps co-insurance (a percentage of the costs that you’re responsible for paying). Generally, the higher the deductible, the lower the premium. The cost of catastrophic-type plans depends on a lot of factors, so I’m not going to throw out any numbers here. Personally, I wouldn’t feel comfortable with an emergency plan only. You never know what kind of long-term treatment you may need following a catastrophic accident or illness.
If you want a more comprehensive plan, most insurance companies will evaluate your medical history and premiums may be based on whether or not you have any pre-existing conditions – and of course, the type of pre-existing condition(s). There are a lot of things to consider when choosing a plan, such as annual deductible, co-pays (the amount you pay for office visits, Rx drugs, etc.), co-insurance, prescriptions, etc. because all of these may mean more out-of-pocket costs for you. As a rule of thumb, the greater the out-of-pocket costs, the lower the premiums. I won’t get into too much detail on types of plans here (HMO vs. PPO vs. indemnity), but generally, HMOs can be more affordable.
If I were in your situation, I’d contact some of the larger insurance companies and see what your options are for an individual plan. Some companies offer an “open season” during this time of year for enrollment. This is a good website that evaluates the quality of care provided by HMOs: http://www.ncqa.org/index.htm
You might have to really shop around to find health insurance that meets your needs (and make sure you read the fine print!). Good luck and let me know if you want any more information.
Didn’t you hear the president last night? Apparently if we’re young and relatively healthy, we’re supposed to just do without.
He was referring to the flu vaccine, but it seems to me that’s pretty much his advice to anyone who needs health care…
Sorry but flu vaccine does not equal health care.
To the OP, look into fortis. http://www.etdbw.com/fh/fortishealth/index.jsp
I just signed up with them. Their prices are right.
I sent it.