Finding the best health insurance plan is important for several reasons:
* You want to be able to get health care for yourself and your family members whenever you need it. People without health insurance are less likely to receive preventive care and to let medical problems go until they become serious.
* You want to be protected against financial disaster if you or someone in your family has a serious accident or develops a serious illness. More than 25% of bankruptcy filings are directly related to medical bills.
But what is the best type of insurance for you? That depends on your needs, age, health status and more.
Choose an insurance plan
There are several types of insurance plans available for you to choose from:
* Traditional indemnity plans that let you choose your doctor and pay most of your bills once you meet your deductible
* Managed care plans like PPOs and HMOs, where you trade some freedom in selecting your health care providers for lower monthly premiums
* Short-term insurance plans if you only need coverage for a few months
* High-deductible plans, often bundled with a medical savings account, that cover all your medical bills once you meet your deductible
* Major medical plans that only cover accidents and illnesses
So how do you choose? Take a look at your lifestyle and see what kind of insurance you need.
If you’re young and in good health, you may just need a major medical policy. If you’re looking for a job that offers health insurance as a benefit, you may need a short-term policy.
Do you have children to think about? A comprehensive policy, such as an indemnity plan, or a PPO or HMO might offer the best coverage.
Where to get the best rate
Regardless of what type of policy is best for you, be sure to go to an insurance comparison website and do some comparison shopping before you buy anything. This will help ensure that you get the best price for your insurance.
