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Health Insurance Resources & Information - All You Need To Know

There's a lot of new information and legislature (like the Affordable Care Act, or Obamacare) regarding your Health Insurance options, and we're here to help you make sense of it all. It is important to understand the Health Insurance landscape, as well as your personalized options, so you can make an informed decision.

Begin your research by clicking on the helpful links and articles provided below.

Affordable Care Act (ACA)

Affordable Care Act (ACA)

Understanding Obamacare

Understanding Obamacare

Health Insurance Options

Health Insurance Options

Shopping for Health Insurance

Shopping for Health Insurance

Healthcare: Marketplaces & Exchanges

Health Insurance Marketplace

Important Info About Medicare

Medicare Insurance (Seniors)

Short-Term Health Insurance

Short-Term Health Insurance

Shopping For Health Insurance

Personal accidents and illness often strike without warning. Even a person known for their good health and vitality can find himself or herself incapacitated. While this scenario is frightening enough, it is the bills that accompany medical treatment that truly scare even the sturdiest individual. It is at these times that a comprehensive health insurance plan is a necessity, to avoid “out of pocket costs” and possible financial ruin.

In the past, health insurance was seen as a personal option. Today buying a health insurance policy is necessary to avoid possible financial penalties. Changes abound, as employees do not have to take the insurance plans offered by their employers. Now everyone is able to choose between a myriad of options. Making these decisions however, is what leaves many consumers both confused and apprehensive.

Health Insurance is a Necessity

Whether you are liable for financial penalties is based on your yearly earnings. For those who are young and healthy, paying a small penalty may be a worthwhile option. Self-employed individuals who earn a small yearly salary may also come to this conclusion. Although this is a valid choice, the realities of life make this rather precarious.

It comes as no surprise that a good portion of personal financial bankruptcies happen because individuals and families are faced with crushing medical bills. To pay medical bills, rent, utilities, food and clothing have to be paid late or not at all. Homes are lost to the bank regularly, because medical bills take precedence over monthly mortgage payments. Delaying the purchase of health insurance almost always sees consumers paying higher rates.

Important Points to Ponder When Buying Health Insurance Coverage

  • Make certain you are purchasing insurance from a company known for having a good reputation. This company should come highly rated by consumers for their reliability and customer service.
  • One's chosen plan needs to fit comfortably into a personal or family budget. The coverage one person chooses may not be sufficient for someone else. Luckily there are a wide variety of companies and plans. This is true in terms of both financial commitment and medical coverage options.

The Right Coverage is Crucial

Carefully look at what is available for purchase and narrow down all options. There are basic heath insurance plans known as “major medical” plans. These cover Emergency Room services and other aspects of hospitalization. This generally works well for healthy adults and young people who rarely have need to visit a doctor's office. For families, older adults and those with ongoing illnesses, a basic plan is not going to suffice. At this stage of life, it is best to work with a health insurance plan that covers physician's appointments, outpatient services, diagnostic testing and ongoing conditions.

How to Begin the Process

Begin the old fashioned way with a simple list. Compile your medical priorities on one side, and follow it with a list of your secondary needs. Immediately, you will be able to eliminate those companies who do not offer options that meet your personal wants and needs.

Where are my Medical Providers located?

Do you already have medical providers in your neighborhood? Or do you wish to continue working with a doctor that you have known for several years? Closely study which doctors work a particular health insurance plan before making your decision. If you have to find an entirely new medical group, are their services going to meet your own needs? Is a doctor or medical group in your “network?” If not, seeing this doctor might require higher rates to use their services. As with the purchase of other consumer goods, it is absolutely essential to have all your answers before you sign on the proverbial dotted line.

Employer-based Plans

If a new or current job offers health insurance, speak with the Human Resources department about your options. While corporate health insurance plans require a lower “co-payment” from employees, coverage may only be “basic” in nature. In addition insurance funded by regular deductions, employees might want to add additional coverage on their own to meet their medical needs.

Coverage for the Self-Employed

Self-employed individuals own and run their own businesses. As such, they are responsible for their own health insurance coverage as well. Be sure to speak with representatives from each of the health insurance plans under consideration. While it is always tempting to go with the least expensive policy, be aware of its limitations. As with most business endeavors, it is better to associate with quality plans in the long run.

Compare Options

Heath insurance plans are usually described as having “tiers” of coverage. Each of these layers of coverage incur additional fees or charges. Look at each policy, taking into consideration what each will cover and ultimately cost. The three things to look for are the “Premium” or cost and your personal “Co-Pay.” Also study what your “Deductibles” will be, as these amounts come out of your pocket directly. Lower premiums mean higher deductibles, while high premiums can translate into lower deductibles for medical services.

Study your Options

  • Feel free to contact individual providers. Insurance companies are eager to speak with you.
  • Check out physicians, specialists and hospitals in your chosen network.
  • Families should always make the medical needs of their children a priority when buying insurance.
  • Inquire about the possibility of adding or deleting coverage as needed in the future.

Things to Remember

Consumers that look at all of their options often make the best choices in health insurance. This is achieved by not just looking at one's current situation, but considering what can occur in the near future. By choosing the right health insurance plan, physical healing can take precedence over financial calamity.

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