Question:

After a recent incident, I have decided to look for a better health insurance provider. What are the things that I should look for in a good health insurance plan?

Gerald,
Los Angeles, CA

Answer:

Hi Gerald, great question! These days, with the kind of economy we are having, a good health insurance policy can be priceless! It can save you thousands of dollars in out-of-pocket expenses on medical treatment and hospitalization, should you (or anyone under your coverage) get sick or injured in the future. However, not all health insurance plans would work as smoothly or would decide to pick-up the tab in all instances. This is why it’s quite vital to know how to identify a good health insurance policy.

Know The Basics

A good policy should be able to cover you for the following: Accident Insurance, Accidental Death & Dismemberment, Medical Expense Insurance, and Disability Income Insurance. Know how much you’re covered and exactly what kind of circumstances are included in your coverage. Some policies could be very tricky in defining coverage terms & clauses, such as what constitutes a “Medical Emergency”, understanding exactly how and when you’re covered will be to your advantage.

HMO vs. PPH/PPO

Which is better? HMO (Health Maintenance Organizations) or PPH (preferred provider health insurance plans) sometimes known as PPO (Preferred Provider Organization)? It actually depends on what you prefer, HMO’s are generally more affordable but with certain limitations when it comes to accredited doctors, clinics, or hospitals. PPH/PPO’s have more accredited providers but may cost you a more.

Know What Other People Are Saying

There are many consumer review and testimonial websites, and independent rating agencies that can help you gauge how well the health insurance provider treat their customers, from availing of claims and benefits to the billing and payment aspects of a coverage.

Compare Policies

Of course, knowing how to compare health insurance rates, coverage and policies is a must! It pays to know how one policy fares with the rest, price and coverage-wise. The Web has plenty of websites or portals allowing you access to quotes coming from wide variety of health insurance providers available in your area and enables you to compare prices more efficiently