Tips for Buying Health Insurance Wisely

Your best source of information about different health plans that you may be considering is to ask friends, co-workers or family members who already have that insurance what they think of it. Ask for their good experiences as well as any problems they may have experienced.

Also, ask family or friends or co-workers about insurance agents that they have used and use an agent that has received high marks from someone whose judgment you trust. Once you have found an agent that you are comfortable with, be forthcoming with the agent as regards to your needs, your wants and your financial situation.

Don’t rush into a purchase. While it is true that you want and need to have health coverage for yourself and for your family, it is also just as true that you need to take the time necessary to fully understand the policy you are looking at and to compare different policies as far as benefits, service, and cost. Don’t buy a policy if you are not comfortable with the policy, the agent you are dealing with and the company from which you are buying the policy.

When you get your policy paperwork don’t just file it away. Look over the paperwork carefully, including the original application paperwork that was filed to get the policy. If you discover any errors or anything that is incorrect you need to bring this up to your insurance agent immediately. A false statement on an insurance application carries potentially severe legal penalties and it can also result in future claims being completely denied.

Keep in mind that many health policies have a “free look” period, often 10 days to as many as 30 days. During this time you can cancel the policy with no penalty and your premium payments are returned to you.

As your situation changes – a job change, additional children, or simply as you age – you need to review your policy with your agent to make sure that it is still serving your needs and that it is still competitive with other plans that are available to you.

If you have a complaint or a question that remains unanswered, remember that most states have an insurance department that you can contact to resolve any problems.