Buy Health Insurance Not A Scam

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To keep from getting scammed when you buy health care insurance ascertain that you

buy from a company that is accepted by your state's insurance department, that has few complaints, is financially stable and that has will sell you a good plan.

The first and most important thing you should do when you want to buy health insurance is to check with your state's insurance department to be sure that the company is approved to sell in your state.

Each insurance department will have different standards. Because of this, you cannot stop with this step. However, you will eliminate the worst companies from consideration by limiting the carriers you consider to carriers that have been approved by your state's insurance department.

The ratio of complaints a company receives to the number of in force contracts is important. Your state's department of insurance should be able to help you gather this data.
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Ascertaining how good an insurance plan is can be more difficult than establishing how strong the company is. One of the reasons this is difficult is that insurance carriers sometimes sell both top notch contracts and lousy ones. Another is the fact the insurance policies are inherently complex.

The percentage of plan holders who complain is a good indication of how good the insurance company's plans are. While some complaints are baseless, a company that has too many complaints is a carrier that either doesn't live up to their promises or that offers contracts that don't meet their plan holder's expectations.

However, since companies that have a low level of complaints may sell both good and lousy policies, each plan will need to be looked at independently. Things to look out for are policies with low lifetime limits, annual caps on benefits and limit or exclude physician visits.

A contract's lifetime limit should be several million as a minimum unless you are certain you will be switching to another plan soon. If you are close to being eligible for Medicare a policy with a two or three million dollar limit won't have much time to be ravaged by inflation. If you are in your twenties now, a million dollar limit may not be enough when you older.

Some contracts have good lifetime limitations, but limit what they will pay in a year. These contracts should be avoided. They won't pay all medical bills if you have a major accident or illness.

Plans that pay in the hospital only are also to be avoided. If you have large costs in the hospital you are all but certain to also have some very major physician bills either before or after your hospital stay. You may have a need for multiple physician visits both before and after a hospital stay.

To avoid being scammed when you buy medical insurance buying from companies that pay their claims is important. Of equal importance is buying a plan that meets certain standards. You will need to understand which plans limit their benefits and stay away from them if you want to keep from getting scammed.

by: Alston Balkcom

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