Ditch the Company Plan, Buy Your Own Health Insurance
Companies that provide insurance to their employees look for bargain policies that will cost them as little as possible. In simple terms, Some pay a portion of their employees’ premiums while others do not have to contribute anything but instead, oversee the policies and how they are used. The main problem with company insurance plans is the “one size fits all” mentality. They are not designed to take into consideration a person’s particular needs.
People who buy a private plan can do much better for themselves and their families by doing a little research and finding a policy outside of what their company has to offer. With the new healthcare legislation in place, private plans are being offered that cover much more than company based policies. In the past, pre-existing conditions were not covered by conventional insurance policies. Now, however, according to the new legislation all conditions are covered whether or not they existed before the policy was written.
When choosing a private policy, several things must be taken into consideration, including:
- prior medical history
- family medical history
- how many people will the policy be responsible for (spouse, children, etc.)
- how much coverage is needed
- pre-existing conditions
- financial resources
A person who is generally healthy with few genetic health issues will not need as much insurance as someone who has several major diseases appearing in their family’s medical history. Buying a private policy allows them to tailor it to meet there specific needs. Young couples planning on starting a family will need coverage that covers childbirth and wellness visits for infants and children.
Comparison shopping will help determine which policy is the most cost effective and will provide the right amount of coverage. Talking to different insurance agency and discussing the benefits of various types of policies will help a person know what options are available and how much each type of policy generally costs. Policies can be written that offer little or no deductible, but have a higher premium. Co-pays can also be negotiated to help control the cost of premiums. Private insurance agents can evaluate a client’s needs and create a policy that has everything they are looking for while still being affordable.
New policies written to comply with the new healthcare regulations are all designed to offer various types of basic coverage. Policies can be adjusted to include long term care, short and long term disability as well as hospice care. For individuals who want to supplement the health insurance policy they already have through their employer, independent agents can help fill in the gaps. Supplemental health insurance is designed to take care of out of pocket expenses, such as prescriptions, preventative care and treatments and procedures that aren’t normally covered under the conventional policy.
Affordable insurance that provides adequate coverage can be found if a person is willing to do their research and read the fine print. By talking to a reputable agent, they can discover insurance plans that are much better at meeting their family’s needs than anything they can get through their employer.
About the Author
Kaitlin Gardner currently lives in Pennsylvania and is married to her best friend. In her spare time, she loves to go hiking , hand with her family and friend and enjoy nature.