Warnings
Ways you can lose your coverage:
- Lying on the application
- Not paying premiums
- Insurer stops operating in your state
- Lose your job and don't find new coverage in 18 months
You are not required to take the health insurance policy provided by your employer
For young, healthy individuals it is often less expensive to find an individual policy than to buy into your employer's group policy
Look out for the danger of your insurer closing its pool to new applicants. As healthy people leave for cheaper plans, less healthy, older people will be stuck in the closed plan with rising premiums due to the demographic change
Correctly file your claims--there can be grave financial consequences if you do not do this correctly
If you are a students and are covered under a parent's plan, remember that you need to confirm your status as a full-time student with your parent's carrier each semester
Hints
Things to consider when shopping for a plan:
- Premium cost
- Deductibile
- Co-pay
- Out-of-network co-pays
- Medical services included/excluded
- Limits on visiting mental health professionals and other specialists
Remember to ask a lot of questions before buying a plan
Before you buy a policy try to talk to someone who is covered under a similar policy by the same company and see what they like and don't like about it
Know all the rules of your plan--before you run into health problems
Make sure your doctor or doctors are in the network of the policy you are buying
Find out how walk-in and emergency care visits are treated in your plan