subject: Affordable Health Insurance Plans, Hsa Qualified Health Plans [print this page] One of the questions we get is which insurance company is the best one to go with? Should I go with Assurant, BlueCross BlueShield, Humana, Golden Rule, American Community, etc. There are a lot of insurance companies out there competing for your business and so it's a very good question, trying to figure out who is best.
My recommendation is, first just make sure you're going with a company that has a strong rating with A.M. Best. A.M. Best is a rating organization that rates these insurance companies based on their financial strength. The insurance companies should be able to tell you what their rating is or your insurance adviser should be able to tell you. I think you can also just Google and go online and look it up and if it has at least an A- rating, then you'll know that the company is probably going to be around for a while at the very least.
Next, just compare rates. This is just a basic thing, but there can be some very big differences in premiums for very similar coverage with different insurance companies. Some insurance companies are very strong in one zip code area and not very strong in others, so your brother in law may have coverage with a company that offers a really good premium for him and you look it up and it doesn't look so good for you because you don't live in the same area or maybe it's because you're not the same age and that can make a big difference too.
So do a lot of comparisons, and the last thing that you can do is check with your state insurance commissioner on the complaint ratio that that insurance company has because it may be financially strong, but it may take forever to pay a claim. Most state insurance commissioners will have a published online complaint ratio of all the insurance companies that do business in that state, so look that up and you can see whether this company may be problematic if you should ever actually need to use the coverage down the line.
For more information on how to make the most of your Health Savings Account go to www.HSA-Resources.com. There you will also find information about how to open a Health Savings Account, about how health care reform will affect your HSA and why you should take advantage of the opportunity to own a Health Savings Account now.
by: Wiley Long
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