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HEALTH INSURANCE
Every year the cost of providing healthcare increases dramatically. Simple
same-day surgeries, required tests and emergency attention can add up to
tens of thousands of dollars or more.
The overall benefits of health insurance are obvious. You won't be
avoiding the doctor because it costs too much. The hospital bills
won't be piling up on your desk waiting for attention. Your
health insurance will provide the help and care you need and demand. Also,
if you drive a car, health insurance will work cooperatively with your
auto insurance in case of an accident.
There are many health insurance companies available,
offering various types of plans. We are much more than capable to get you the best plan
and coverage to
suit your specific needs and desires.
Individual
Insurance
Individual
health insurance covers the medical expenses of only one
person or family. Unlike group insurance, you purchase
individual insurance directly from an insurance company.
When you apply for individual insurance, you are evaluated
in terms of how much risk you present. This is generally
done through a series of medical questions and/or a physical
exam. Your risk potential determines whether you qualify,
and how much your insurance will cost.
What will the insurance company want to
know?
Before issuing an individual insurance policy, the insurer
will want to know everything about your personal health
history. It is unwise to try to hide a pre-existing
condition from your insurer, since many insurers use
information from the Medical Information Bureau (MIB) to
determine whether an applicant is insurable. If the insurer
doesn't want to cover a particular health condition, you may
still be able to get a policy with an exclusion rider.
What are the benefits of individual
coverage?
If available, group insurance is generally a better option,
since it is usually more comprehensive. However, individual coverage is
infinitely better than being uninsured in the event of
illness or injury. Although you may think you can do without
health insurance, you are taking a major risk if you choose
not to get coverage. An unexpected illness or serious injury
can put you and your family in financial peril.
In a group insurance situation, the
provisions of the policy are negotiated between the insurer
and master policyowner (usually an employer or association).
With individual insurance, you are directly in control of
your policy. You can negotiate to have certain provisions
included or excluded, and you can often choose your
deductible amount and co-payment percentage. Keep in mind,
however, that these things will affect your premiums.
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