The stories are frightening: Uninsured individuals who get ill or injured and require medical care are plunged into medical bankruptcy.
Sure it makes sound sense to have health insurance. But job loss, forced early retirement, or a number of other factors, make this an impossible dream for millions of Americans. While shopping for health insurance can be confusing, it's possible to find a plan that's right for you. A good place to start, experts say, is to compare plans and costs. You may find that it's not as expensive as you thought.
First, calculate your personal needs. If you are a parent with young children who tend to get frequent ear infections, you'll want a plan that has lower co-pays (the fixed amount the insured person pays for a doctor visit or prescription.) If you're young and healthy, and you don't visit the doctor often but want insurance in case some unpredictable health care issue arises, you can pick a plan with lower premiums and a higher deductible.
"If you're an early retiree buying insurance just until you are covered by Medicare, you may only need coverage for a year," says Ellen Laden of Unitedcare's Golden Rule Insurance Company, which offers health insurance to individuals who are freelance or unemployed, who are contract workers, or who are self-employed. This type of short-term insurance may be more reasonably priced.
Not sure where to shop for health insurance? There are a variety of options. Speaking with an independent insurance broker is one way to check out different kinds of health insurance, Laden says. "A broker is often the best way for someone who likes a face-to- face meeting," she says. "And a broker can take you through the process and help you choose."
If you have a chronic illness, check out https://www.pcip.gov/, the government website that's recommended for individuals with a pre-existing condition and who have been without insurance coverage for at least six months. Also worth checking out to see what options are available: www.healthcare.gov. But while this is a good source of information, it does not sell health insurance.
At www.healthinsurance.com, you can compare various polices offered by scores of insurance providers. (It feels almost like shopping for airline tickets on Expedia.)
If you are over 50, you may be able to purchase health insurance through AARP. Consultants and certain independent workers can check the Freelancers Union, another option.
It's crucial to do your research in order to see which doctors and hospitals participate with the plan you are considering. Become familiar with any plan exclusions and limitations before you sign on. And find out if the company you are considering covers you when you travel out of state, advises Laden. "When you're out of town, you want to make sure that any hospitals or doctors you use are in network," she says.
If you're an early retiree, getting insurance can be harder than it is for younger people, says Mark Colwell of GoHealth (the website is gohealthinsurance.com). "It can be a little more difficult to find a really good plan when you are over 60," he says. You'll need to look over your options carefully, and I recommend talking to an agent. You will be able to find insurance, but you will pay more than a 25-year-old."
One option if you are looking to lower your monthly premium is to choose a higher out- of-pocket and deductible, says Keith Mendonsa of eHealthInsurance.com. And, he says, you can also save money on health insurance if you make certain lifestyle changes.
"There are much higher premiums if you smoke or have a high BMI," says Mendonsa. "They can really impact your monthly bill. If you lose weight and quit smoking, your health insurance costs should drop, Mendonsa says.
Source:
Alboher, Marci. 27 March 2008. "Find Health Insurance if You Are Self-Employed." The New York Times.
http://www.nytimes.com/2008/03/27/business/smallbusiness/27sbiz.html
