Health Insurance Companies: 5 Things to Look For

Do you know how to select a health insurance plan for your family? It may seem like an easy question, but there are many factors to consider. With so many plans out there and new ones constantly popping up, it's difficult for people to keep up with the ever-changing landscape. This article aims to help you do just that.

At an absolute minimum, you'll want to look at four things when selecting a health insurance plan:

1) The copayment. Some plans have a monthly deductible whereas others have a copayment. You need to read the fine print about this if you're electing not to get any coverage at all or if you are seeking reimbursement for your deductible expenses. 2) The deductibles in various plans. There are varying levels of deductibles; from as low as $100 to as high as $10,000 per year. The lower the deductible, the more expensive the plan would be. 3) The network of care. There are health providers and facilities in your zip code that you'll be entitled to use should you have to visit a doctor or receive medical treatment. An easy way to find the network is to visit Healthcare Blue Book's list of providers in your area . This way, you'll know which doctors and hospitals are covered by each plan as well as their prices and whether or not they accept your insurance company's payment method. 4) Paying for services or procedures that require a doctor visit. Some plans cover certain procedures at no charge; this could include the cost of an annual physical, dental checkups, prescription drugs like birth control pills, or possibly even emergency room visits.

In addition to those four things above, you'll also want to look at the following factors:

5) Prior history of customer satisfaction. The New York Times offers a great interactive tool to find out how happy current customers are with a particular health insurance company . They do this by polling users of various health insurance plans and calculating the percentage of people who are satisfied with their plan's quality and customer service. It's worth taking a look at even if you're not in New York, but especially if you're not. The list is updated quarterly, so you'll be able to gauge how your most recent interactions with the company have been based on any complaints or compliments that other customers have submitted. 6) The price of the monthly premium. This is probably the most important factor if you're shopping for a plan that you'll be purchasing on an ongoing basis. If you're only looking to temporarily cover big health expenses, like in case you have to go in for a surgery or get really sick and therefore need short-term medical coverage, this may not be as important to you. 7) The costs associated with paying your premium on an ongoing basis. The aforementioned article from The New York Times offers great insights into the companies that offer recurring plans . This way, you'll know ahead of time the amount you'll be paying each month and what those costs include. That will help you budget for it. 8) The ease of enrolling and switching plans each year. This may not be important if you're only looking to cover a specific procedure or a brief period of time, but if you're hoping to use a particular plan every month throughout the year, then the timeliness with which they process payments and change over your information is extremely important. Some companies make this exceptionally easy, others make it terribly difficult.

9) The ease with which your children can be added to your coverage plan. Some plans limit the number of children that can be added to a family's insurance plan, others may charge more to cover additional younger family members.

10) The amount of time the company has been in business. Although there are many new health insurance companies out there, it's still important to check and see how long they've been around and if they've had any major complaints filed against them. If you're looking for an easy place to start, this website here allows you to check up on a company's history by searching through a variety of government databases . 11) Your satisfaction with the customer support provided by the company. Some people will never need assistance while others will want to call all the time. If you're unsure about which to choose, read this article on the best ways to get customer support .

Maybe you don't need health insurance. But if so, we've got great tips for you here.

As a content writer for Life Happens , I often cover a wide range of topics including health insurance , financial literacy , and technology . One area I hadn't written much about before is the benefits of investing in good health . That's because it's not something that's typically discussed and many people still don't understand how it works. The idea is that keeping your body healthy will increase your chances of living longer and feeling better. That means you'll have more time to enjoy what life has to offer, and spend less time and money on healthcare.

That's not to say that we all need to be healthy in order for good health insurance to be a good idea, but it is a benefit if you're able to stay well.

Lifestyle changes can make a big difference. For some people, this means choosing healthier food options . For others, it can mean getting enough rest . Remember that the earlier you start taking care of yourself, the easier it will be to make healthy lifestyle choices for the long-term. Once you're feeling better, it's easier to ignore junk food temptations once in a while or take your vitamins every day .

Good nutrition is also important for your health insurance. When you eat well, you'll have more energy and better body chemistry overall. Your body will be able to function at a much higher level, which means you'll be less likely to fall sick or skip out on taking care of yourself. That in turn means spending less money on doctor visits or prescription medication for things like heart problems, arthritis and other conditions that may have been overlooked in the past (unless you were part of the 1% with exceptional health insurance coverage).

As someone who's always had great health insurance coverage for most of my life, I know those benefits mean a lot to me.

Conclusion

Hopefully life has been fairly easy for you and you've enjoyed a great deal of success. That's not to say that you shouldn't take time every now and then to reflect on where your life is heading. Doing so will help you stay on track and avoid unnecessary stress.

If you'd like help with your current financial situation, this article on improving your credit score may be helpful to read . If you're looking for other ideas, check out how we can help raise your credit score here .

If you're confident in what's going on with your finances, take some time to look at the articles below for some helpful tips.