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Things you should know before buying a medical plan

Usually when I'm approached by individuals they usually first ask about a health plan. While having your first health plan is a big step toward protecting you and your family, many people don't qualify for various reasons. I decided to list a couple things you should know before you purchase a Health Plan.

 Coverage & Premium
Health policies offer different coverage . Insurance companies not only make it affordable for most employed persons but they also cater for estimated annual claims. with that being said buying the cheapest Health Plan may not always be what's best for you.

 Full Disclosure is always best
Insurance companies must assess the risk of insuring all individuals on a Health Plan. its always best to disclose all medical conditions and previous illness so that the case can be assesses fairly. Insurance companies use the term pre-existing condition and is usually defined as any condition, ailment or injury for which you had signs or symptoms, or were diagnosed and / or received medical advice or treatment prior to the policy being issued. You are required to make disclosure at the time of purchase. 

 Copayments and other charges
Let's say your health insurance plan's allowable cost for a doctor's office visit is $100. Your copayment for a doctor visit is $20. If you've paid your deductible: You pay $20, usually at the time of the visit. If you haven't met your deductible: You pay $100.

 Comparison and Research
Buying a new policy is like buying a new car shop around, ask questions, compare premiums and features. Then make a decision.


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