5 Tips To Buy Affordable Health Insurance

Affordable health insurance is a must even when you follow
a fitness program. Eating right and exercising regularly
goes a long way to extending our life. We all should have
regular health checkups. For many people, affordable
health insurance is too costly.

Most Americans get health insurance through their jobs or
are covered because a family member has insurance at work.
This is called group insurance. Group insurance is
generally the least expensive kind. In many cases, the
employer pays part or all of the cost.

Some employers offer only one health insurance plan. Some
offer a choice of plans: a fee-for-service plan, a health
maintenance organization (HMO), or a preferred provider
organization (PPO), for example.

What happens if you or your family member leaves the job?
You will lose your employer-supported group coverage. It
may be possible to keep the same policy, but you will have
to pay for it yourself. This will certainly cost you more
than group coverage for the same, or less, protection. You
must seek out affordable health insurance on your own.

A Federal law makes it possible for most people to continue
their group health coverage for a period of time. Called
COBRA (for the Consolidated Omnibus Budget Reconciliation
Act of 1985), the law requires that if you work for a
business of 20 or more employees and leave your job or are
laid off, you can continue to get health coverage for at
least 18 months. You will be charged a higher premium than
when you were working.

You also will be able to get affordable health insurance
under COBRA if our spouse was covered but now you are
widowed or divorced. If you were covered under your
parents' group plan while you were in school, you also can
continue in the plan for up to 18 months under COBRA until
you find a job that offers you your own health insurance.
More often than not, this coverage is pretty expensive. If
you have a pre-existing condition though, this may be
better than the market pricing.

Not all employers offer affordable health insurance. You
might find this to be the case with your job, especially if
you work for a small business or work part-time. If your
employer does not offer affordable health insurance, you
might be able to get group insurance through membership in
a labor union, professional association, club, or other
organization. Many organizations offer affordable health
insurance plans to members. Also, check out local credit
unions and chamber of commerce groups for affordable health
insurance coverage.

If your employer does not offer group insurance, or if the
insurance offered is very limited, you can buy an
individual policy. You can get fee-for-service, HMO, or PPO
protection. But you should compare your options and shop
carefully because coverage and costs vary from company to
company. Individual plans may not offer benefits as broad
as those in group plans.

If you get a non-cancelable policy (also called a
guaranteed renewable policy), then you will receive
individual insurance under that policy as long as you keep
paying the monthly premium. The insurance company can raise
the cost, but cannot cancel your coverage. Many companies
now offer a conditionally renewable policy. This means that
the insurance company can cancel all policies like yours,
not just yours. This protects you from being singled out
but it doesn't protect you from losing coverage.

Before you buy any affordable health insurance policy, make
sure you know what it will pay for...and what it won't. To
find out about individual health insurance plans, you can
call insurance companies, HMOs, and PPOs in your community,
or speak to the agent who handles your car or house
insurance. Also, search the internet for many affordable
health insurance companies that will give you multiple
quotes free.

Here are 5 tips when buying affordable health insurance:

1. Shop carefully. Policies differ widely in coverage and
cost. Contact different insurance companies, or ask your
agent to show you policies from several insurers so you can
compare them. Make sure the policy protects you from large
medical costs. Compare the on-line sites for fast turn
around on affordable health insurance.

2. Read and understand the policy. Make sure it provides
the kind of coverage that's right for you. You don't want
unpleasant surprises when you're sick or in the hospital.
Many contracts have subtle limitations, exclusions and out
of pocket costs that will bury you going forward.

3. Check to see that the policy states: the date that the
policy will begin paying (some have a waiting period before
coverage begins), and what is covered or excluded from
coverage. Pre-existing conditions, children and the
possibility of starting a family can increase your costs.

4. Make sure there is a "free look" clause. Most companies
give you at least 10 days to look over your policy after
you receive it. If you decide it is not for you, you can
return it and have your premium refunded. Get all promises
and pledges in writing!

5. Beware of single disease insurance policies. There are
some polices that offer protection for only one disease,
such as cancer. If you already have health insurance, your
regular plan probably already provides all the coverage you
need. Check to see what protection you have before buying
any more insurance. Do you only want to cover 1 disease
going forward?

In summary, by researching the internet, talking with your
family and friends, you will select the absolute best
affordable health insurance available for your family.

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