When you are buying health insurance it is important to look not just at the different plans on offer but also at the different insurance companies providing those plans. Some companies will specialize in providing just group health insurance plans and these are normally divided into large and small group schemes. There are also companies which specialize in providing individual and family plans and of course companies which provide a wide range of plans covering both groups and individuals. Finally, there are also companies which specialize in insurance for specific types of individual, such as senior citizens.
Many companies are of course household names and have been providing insurance cover to millions of customers for many years, while others are relatively new and still have a reasonably small customer base. The age of the company may well be something which you consider to be of importance since older companies will have a well established track record, but do not overlook the newcomers as they will often provide a range of incentives to help to build there business. The secret here is simply to make sure that you check prospective companies out before taking out any health insurance plan.
Once you have narrowed your search down to a handful of possible insurers then, and only then, turn your attention to the plans being offered by those companies and compare the benefits of the different plans.
Insurance plans can be somewhat complicated but it is important that you read through the details of each plan carefully and look not simply for what is covered but also for just what is excluded, or covered only to a limited degree. Remember too to look at all of the areas for which you might want cover such as emergency services, surgical and medical fees, prescription drugs, treatment for mental health problems and anything else which you feel is a requirement in your own personal case.
The exclusions under each plan are one area which requires special attention as all plans will include exclusions and these are normally buried in the detail of the plan rather than clearly written into the introductory pages. Remember in particular that exclusions may not always be simple to spot. The plan may for example say that dental care is excluded which is simple enough. However, the plan may also say that dental treatment is covered and then hidden away in the plan ‘definitions’ it might say something like, “For the purposes of this plan dental treatment is defined as any dental reconstruction work arising out of serious accident or injury”. So, read everything including the ‘exclusions’, ‘definitions’, ‘limitations’ and any other heading they may choose to add.
Finally, once you have narrowed your choice down to two or three plans which are from reputable insurance companies and which meet your needs, then take a look at the cost of each plan and make your decision on the basis of which plan represents the best value for money.