California's health insurance market has unveiled many cost-effective health insurance plans. With a little bit of research consumers can save a significant amount of money each year by securing the most appropriate health insurance plan for themselves, their families, and their employees. In the end, they might just have more positive feelings about California's health care system.
Despite the highly visible social action efforts taking place in Sacramento to heal our health wounds, it is likely that big changes are still a while away from taking effect. So, in the next few years there is a lot that you as employers, individuals, and families can do to quell the negative reputation that the health care system gets and start making the insurance process work in our favor.
In this age of internet shopping, more and more people each year are purchasing their health insurance plans online without knowing which plans are most appropriate for them. Most choose the health insurance plan that has a low monthly premium, but later find that this plan does not fit their needs or the needs of their loved ones or workers. As a result, the costs can be much greater in the long run. Typically, the most eligible health insurance plan will end up being the most cost-effective health insurance plan, even if it is not the plan with the lowest monthly premium.
Finding the most appropriate and cost-effective health insurance plan can be accomplished through a few simple steps:
1) Contact a professional health insurance agent from a referral or call the agency that you find online
2) Ask the right questions:
a. What is the difference between a PPO and an HMO? Which one would benefit me the most?
b. What is a deductible, co-pay, co-insurance, maximum out-of-pocket limit?
c. If I have pre-existing conditions, how will that affect my family's rate and approval probability?
d. Should I sign up separately from my family?
e. Are there $ 0 deductible plans available? Would this be appropriate for me? Why? Why not?
f. If I get declined, what are my alternatives?
g. Which plans am I more likely to be approved or declined for?
3) Learn about the different types of health insurance plans in the market. This will only take a few moments to understand.
The following are a few great health insurance plans in the market that have very comprehensive coverage and can help you save money.
First Dollar Plans: These plans have a $ 0 deductible so the member is paying only a percentage (usually 40%) of the negotiated rate for services from the very start of the policy. First Dollar Plans normally carry a doctor's visit co-pay from $ 25 – $ 40. Such plans do not include maternity benefits *, which helps to keep the monthly premiums down.
* This may be a concern for women, but companies that carry these plans will often let you slide into their high deductible plan (~ $ 5000 deductible) …