Common Risks and Pitfalls to Avoid When Purchasing Health Insurance
If you don’t receive health insurance through work, you may be looking to buy health insurance individually either on or off-line. If this is the case, it is important to be cautious and do your research. Here a some of the most common risks and pitfalls to avoid when purchasing heath insurance.
The most important thing to check out is that you qualify for individual insurance. Some states such as New York and Massachusetts are “Guaranteed Issue” states. This means that people who live in these states cannot be denied health insurance. If you don’t live in one of these states, however, you will need to make sure you qualify. Be aware of how any pre-existing conditions you may have could affect your ability to qualify for coverage.
Next, understand that maternity coverage is not always automatic with health insurance plans. This is especially important for women and especially those who are planning to get pregnant in the near future. If you are not a female or if you are on birth control, this can be good because it can save you money, however it can be a huge problem if you do need maternity care and you did not check to ensure your plan covers it ahead of time. Be sure to buy a plan that offers maternity care
Another thing to look out for is limited benefits plans. These plans can be problematic since they will only cover certain medical expenses or they may limit how much coverage you can receive when you go the doctor, ER room or stay in the hospital. You should also be wary of low cost insurance plan options that promise to qualify any and all applicants. Both of these insurance options are dangerous and will likely leave you paying large medical bills in the case of an emergency or expensive treatments.
When buying any sort of insurance plan it is crucial that you read the fine print closely and carefully to ensure that you understand the terms and coverage you will be provided with. Never assume that everything is covered until you see it in writing. It may be wise to compare multiple plans and even review the terms with a lawyer first to ensure you are making a smart investment.
Finally, always stay covered and be sure to avoid any gaps in your coverage. If you have a gap in your coverage it may influence your ability to get insurance again later on when you re-apply for health insurance with another company. Be consistent since gaps are also risky. If you are not covered and you need medical attention, you will undoubtedly have to foot the entire bill on your own!
All of these tips can help you to avoid the risks and pitfall associated with health insurance plans. Always be cautious when purchasing a plan so that you know what you are getting and so that you don’t get tricked or ripped off. Whether you buy custom health plans or packages from large companies, these tips are necessary for you to consider.