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Tips For Buying Insurance

Health Insurance Buying Tips

Health Insurance Buying Tips

Finding insurance that meets your needs and the needs of your family is not a difficult task. It is important to decide what benefits are most necessary, and then work to fit the most important features into a plan with a premium that is reasonable for your budget.

 

 

Identify the Coverage Benefits You Require

Coverage benefits may include:

  • Maternity coverage
  • Prescription coverage
  • Well child care
  • Immunizations
  • Emergency visits
  • Annual physicals
  • Dependent coverage
  • Physician office visits
  • Specialist coverage

Estimate How Long Coverage Will Be Needed

Temporary insurance may be best if you are waiting for new group coverage to begin or if you are between jobs. A permanent individual policy may be best if you need long term coverage.

Consider How Many Times You Will Have Medical Needs

If you are healthy, you may wish to select a plan that will cover only essential needs in the event of an unexpected accident or illness. If you have more regular medical needs, more extensive plans may be best.

Measure Your Tolerance for Financial Risk

High Deductible Health Plans may be best for you if paying out of pocket for some prescriptions and a few doctor visits per year will not be financially damaging. Lower deductible plans may be better suited to those that would be financially damaged by covering some unexpected costs out of pocket. Premiums are higher for lower deductible plans, however.

Other Important Factors to Consider

  • Is your current physician included in the plan’s provider network?
  • Is keeping your current physician important to you? It could result in having to purchase a more expensive policy or pay more out of pocket costs.
  • Where are the nearest hospitals you can visit with your plan?
  • Is there a wide selection of primary care physician and specialists?
  • What is the financial strength of the insurance company?
  • What about pre-existing coverage or limitations? (Is there a waiting period?)

Only Use Licensed Agents

Having an insurance agent can ease the burden in times of need. An agent can help you submit claims or find out if conditions are covered quickly. Having an insurance agent available to help can be valuable and costs you nothing!

Verify that your agent is licensed in the State of Florida. Go to myfloridacfo.com and click the “verify before you buy” button or call 1-877-MY-FL-CFO.

 

Download Florida Health Insurance Guide: http://www.myfloridacfo.com/Consumers/Guides/Health/index.htm

Fill out your application thoroughly and completely. Inconsistencies and inaccuracies may result in termination of your policy.

If you have any questions about buying health insurance that is not on this page, or need additional information, please call us at 1-855-440-2292 or email us your question.

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