What to Consider When Shopping for Insurance

Sep 22, 2015

It can be hard to pick the right insurance plan for your circumstances. We don’t know what will happen to us in the future and we can only plan for so much. However, here are some things to think about when shopping for insurance:

  • What insurance options do I have at work? Many businesses offer really great insurance plans that you can take advantage of. Make sure you know all of your options and that you understand them. Understanding an insurance plan may be easier said than done, but HR should be able to provide you with a comprehensive idea of what your office has to offer.
  • Do I have a major life change coming up that could require medical care? You may be planning to get pregnant or perhaps you are going to run an extreme marathon in a remote location. Be sure you understand what kind of insurance would be useful for your upcoming activity. You may want to get insurance with a low deductible or buy additional insurance that can help make sure you will get to a hospital or medical care facility.
  • How does this insurance deal with outside providers? Some insurance will not cover health care provided by a doctor or nurse that does not work within a specific network, while others are a little more open to covering at least part of a visit to an outside provider. If you do not live or work near a doctor that is covered by the insurance network, you may want to consider different insurance.
  • What is important to you when it comes to insurance? A person who wants to stick with the same doctor may treat their insurance choices differently than someone who wants to go for the cheapest insurance possible.
  • Does the plan cover your children or spouse? Many office plans will allow you to cover your children or spouse with the same plan, but they will often not pay for the additional people on the plan. So, your plan may require additional out-of-pocket monthly expenses to cover your child or spouse.
  • Do you already have a plan that you are signed up to? It is always smart to review your plan at the end of each year to see if it has changed at all or to find out if a plan that better fits your needs is now available.

Health insurance is incredibly important for everyone to have. Be sure you get the right insurance that will give you the most benefit for the price. You want to get the biggest bang for your buck!

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