What is covered?

Hospital Expenses?
Surgical Expenses?
Physician’s expenses?
Emergency Care?
Prescription drugs?
Mental Health?
Maternity Care?
Vision Care?
Dental Care?
Catastrophic illnesses?
Catastrophic injuries?

How affordable is the cost of care?
• Monthly premium amount to pay?
• What co-pay will exist every visit to a health provider?
• How does insuring most of my medical expenses compare to just the large ones?
• What is the out-of-pocket deductible amount needed to satisfy first.
• After meeting the deductible, what co-insurance, or percentage of medical expenses is reimbursed or covered- example:100%, 80%, 50%?
• What is the cost of using a doctor outside the insurance company’s network?
• What is the cost of adding prescription medicine coverage?
Deciding what plan best fits.
• Are the doctors, hospitals, laboratories and other medical providers, I use, in the insurance company’s network?
• Can I change primary-care physicians if I want to?
• Do I have to have a referral to see a medical specialist?
• If I have a pre-existing condition how will the plan treat it?
• Are the prescription medicines that I use covered by the plan?
• Will my insurance cover alternative medical practices?
• Does the plan offer family as well as individual coverage?
• Does the plan cover maternity expenses?
• Does the insurance company have a good reputation?

Before you buy an Individual Health Plan
If you are self-employed, unemployed or a student;
1. It’s usually better, if you are married, to get your coverage through your spouse’s employer’s group insurance provider (if available) than purchasing an individual policy.
2. Always search for available group health plans through trade associations or alumni groups. If you are over age 50, compare what plans the American Association of Retired Persons (AARP) has to offer.
3. When considering an individual policy it is important that you and your family be protected against financial catastrophic illnesses and injuries.
4. Always make sure the insurance agent and agency you’re working with is licensed in your state.

Considering A High Deductible Plan
One way to reduce premiums is by opting a high-deductible insurance plan. If you are healthy and don’t make routine visits to the doctor, this may be a good option for you. Though you have to pay the deductible amount before your co-insurance kicks in, you will still be protected from having to recover from catastrophic expenses related to a serious illness or injury. There are also other benefits if your tied to a Health Savings Account.

A New Option for High Deductible Health Plans (HDHP’s)
Last year (2004) legislation established Health Savings Accounts (HSA’s) which are tax favored savings accounts that can be used in conjunction with a HSA-eligible high deductible health plan. Contributions to a HSA are tax-exempt up to allowable annual limits, reducing your taxable income. Money in the HSA used for qualified medical expenses are tax-free. Unused funds can roll over each year and accrue interest tax-free. At age 55 you can make additional deposits in your HSA, up and above previously indexed allowable amounts, until you reach the age of 65.
HSA-HDHP’s only have one deductible amount per family to satisfy verses having to satisfy the same deductible amount for each family member, often found with Traditional Health Plans. This in part, is why HSA’s and HSA-Eligible High Deductible Health Plans are becoming more and more popular. For more Information on HSA-Eligible plans….CLICK HERE.