Before you buy Florida health care insurance, you need to educate yourself thoroughly. By taking the time to learn about health care insurance in Florida, you will be able to get the right coverage for yourself (and your family). Welcome to Florida health care insurance 101. Please keep reading to learn more about this important topic.
Why Buy Florida Health Care Insurance?
You may be thinking that you are a healthy person and that you don’t need to consider health care insurance right now. Nothing could be further from the truth. The time to buy Florida health insurance is when you’re relatively healthy. Waiting will probably mean that you will be charged a higher rate for your premium payments. You may even be turned down or have to pay more for your coverage if you have a pre-existing condition that makes you a higher risk to insure.
Buying FL health insurance is something that you do to protect your hard-earned assets. You may be quite healthy right now, but that can change in an instant. If you were involved in an accident or became ill, would you be able to pay for the cost of hospital and follow-up care on your own? Most people wouldn’t be able to pay the fees that would be involved for even a short hospital stay. The cost of having surgery would add to the cost very quickly.
If you don’t have a health care insurance plan in place, the cost would have to come out of your own pocket. Some people in this situation have had to make the difficult and very painful decision to liquidate their assets to pay for their care. Don’t let this happen to you, get coverage in place while you are healthy so that if you have a major medical expense, the insurance company will be responsible for paying them.
How to Choose a Florida Health Care Insurance Plan
The first step when considering health care insurance is to consider what your priorities are. Most people are concerned about having coverage for major health care expenses, and this is where you should probably focus your attention. You also want to factor in the kinds of health care services you are likely to need.
Do you have children who will need regular check-ups and vaccinations? Do you or one of your family members need to take medications regularly? Are you planning to become pregnant soon? The answers to these questions will help you determine the right type of coverage for your needs.
Shop Around to Find Cheap FL Health Care Insurance
Each health insurance provider has its own criteria for determining risk and setting rates. When you are looking for cheap FL health insurance coverage, consider more than one plan before making your final decision. You may be surprised at the difference between carriers.
Consider too, that premium cost is only one factor when it comes to buying health care insurance in Florida. You also want to compare coverage terms so that you get the best combination of cost and services. Insurance policies can be difficult for a lay person to read, and if you have any questions, be sure to ask them before you make the decision to buy. The insurance company or your insurance agent should be able to clear up any issues for you. If you need an unbiased source of advice, contact our independent agents for assistance and guidance.
Insurance Terms Defined
Here are some insurance terms that you should be aware of when you are shopping around for coverage:
A deductible is the amount you have chosen to pay on an annual basis yourself before the insurance company will pay any benefits. The trade off when it comes to health insurance is that when you choose a higher deductible, your premiums will be lower. An insurance premium is the amount you pay each month for your coverage.
A copayment (“copay”) is a fee that you pay directly to a health care provider every time you get services under the policy. The amount of the copay is be spelled out in your policy. The amount is meant to cover only a portion of your medical care, but health insurance companies include this provision in their policies to reduce the likelihood that an insured person will visit doctors for minor ailments that would run up the costs for the insurer.
Coinsurance means that after you have reached your annual deductible under the insurance policy, the insurance company will pay a percentage of your health care costs. For example, with an 80/20 plan, your insurer would be responsible for 80% of your health care costs as covered under the policy and you would pay the remaining 20% until you reach the applicable stop loss limit (also called maximum out of pocket limit) in the policy at which point the insurance company pays 100%.
Types of Florida Health Care Coverage
You may be able to get health insurance coverage through your employer as part of a group policy. The advantage of getting group insurance is that you won’t get turned down for coverage. However, since the insurer has agreed to cover all the group members, the premium payments may be higher than if you applied for health insurance on your own. The insurance company needs to consider that there will be some members of the plan who will need more services, and they quote rates accordingly.
Applying for individual coverage means that the insurer will consider your current health and family history when determining your level of risk. When you are applying for family coverage, the insurance company looks each applicant when setting rates. In a situation where you want to get coverage as a family but one person has health issues that can drive up the cost, you may want to consider applying for individual coverage for that person, while including the rest of the family in the other application. You may save some money on the premium costs using this strategy.
Exclusions in an insurance policy are items that you are not covered for. Be sure to read through this list carefully so that you understand exactly what coverage you have in place. Some policies will not cover costs associated with a pre-existing condition, which could be defined as any condition that warranted a visit to a doctor within the previous 6-12 months.
Compare Florida Health Care Insurance Quotes Online!
Now that you’ve completed this Florida health care insurance 101 primer, you can take the next step and start looking for coverage. Comparing rates from different companies is a great way to make sure that you are getting the best combination of coverage and premiums that you can afford. You can start your search right now by clicking on the free FL health insurance quote tool at the top of this page. Why don’t you find out about your options right now?