According to the CDC (Center for Disease Control), 43.6 million Americans are without health insurance in 2006. Experts expect this number to increase when the reports are completed for 2007. This amounts to almost 15% of the nation's population.
Everyone is aware of the rising costs of health care in this country. The topic is covered in daily newspapers and TV news reports daily. But what about the cost of not having health care. With daily hospital visits costing thousands of dollars, who can afford not to have at least major medical insurance?
The tricky thing about insurance is that you have to buy it before you want to use it. You can't have an accident and then apply for insurance. You can't get pregnant then apply for coverage. You have to do all this prior to the event that requires the coverage.
So what are your options? First of all, check to see if your employer can sign you up for a medical plan that includes major medical and dental for you and your family. If that is not available, your second bet is to go to a broker like Allstate or IAB. Make sure the company has a history of paying out its benefits. The Internet is full of horror stories from people who could not get the company to pay the claim.
After you've done a little research on the company, you need to decide on the level of coverage. This is where you check the level of deductibles for different events like. The deductible is the amount of money you are responsible for paying. The higher the deductible is the lower your monthly insurance will be. So you will save on your monthly bills, but you will have to pay more in the event you need medical attention.
Instead of having a deductible, some health insurance companies offer a “benefit". The benefit is the dollar amount the company will pay in any particular event. For example, say your child's ear is hurting him and you take him to the doctor. If the doctor bills you $75 for the visit and you have a $50 benefit through your health insurance, you are only responsible for $25.
Some insurance companies require you to use doctors and health care professionals that are within their network. Some of the better plans do not have such restrictions, but they can often cost more. Other companies like IAB will pay benefits regardless of the doctor you choose.
No matter what type of insurance you choose, make sure the benefits cover your necessities and understand the terms. Reputable insurance companies will happy to answer your questions about their coverage and costs. The small amount of research could save you thousands each year. But be sure to make a decision soon, every day without coverage is another day you're risking the health of you and your family.
Where do you go from here? Begin you company research at IAB .