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How to Protect With Health Insurance

Aug 17, 2007
Health insurance is a kind of protection that provides payment of benefits for covered sickness or injury. Included in health insurance are various types of insurance such as accident insurance, disability income insurance, medical expense insurance, and accidental death and dismemberment insurance.

Before sign the protection policy make sure that you have read thoroughly the benefit section. Take note of any health care service that is not covered by your health insurance policy. Also, pay specific attention to how the protection policy is worded. Sometimes, health insurance companies hide the protection coverage exclusions within the definitions of words.

Make sure the company is regulated by your state. An out of state company may not be. Some agents join an association to obtain coverage.
Check the company A.M. Best rating. The company should tell you what it is if you ask and the agent probably also has that information. However, double check at the A.M. Best Web site for any updates.

Check with the state insurance regulatory body. Contact information for each state can be found at the Georgetown Web site.
Is the company covered by state insurance laws?
There are few things you need to consider before getting one. Here are some suggestions and resources for reducing expenses if you have no protection coverage, or you have not met your deductible.

1. Doctors
If your doctor visit would not be covered by insurance, then it pays to comparison shop. When calling for an appointment, find out the charges. Ask for a discount for cash since the doctors staff will not have to complete insurance paperwork.

2 Hospitals
Hospital expenses can be negotiated too. Prior to admittance, talk to your physician and the billing department of the hospital to find out how you can keep expenses down. For example, you might be able to have your operation done on an outpatient basis. You can often negotiate a lower charge, particularly if you can pay that amount in cash. Additionally, hospitals often have sources for interest free loans.

3 Prescription drugs
If you are not eligible for Medicare, you can receive help with prescription drugs if you have no prescription coverage and you meet income guidelines. A number of the large drug companies have established programs.

4 Get Second Opinions
Get a second opinion if surgery is suggested. The cost for a second exam could be offset by savings if another physician disagrees with the diagnosis or treatment.

Therefore, you should read over carefully the protection policy definitions, paying close attention to the seven key words:

1 Medical emergency
2 Medically necessary
3 Accidental injuries
4 Experimental or investigational
5 Certification
6 Preexisting condition, and
7 Reasonable and customary

These words and any words that are open to interpretation should be regarded with wariness. Find out how your protection company defines each of these.
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