Finding affordable individual health insurance can be a challenge.
That's why it makes sense to look at multiple options before deciding on a policy.
Here are some areas to zero-in on before deciding on a plan.
Coverage It's important to make sure that the coverage you end up with has quality benefits that you're able to understand easily.
Make sure that your lifetime maximum is sufficient to cover a major medical event.
Also make sure that you know what your maximum risk is per year.
This is often referred to as your "out- of- pocket maximum.
" It's also important to know how office visits, prescriptions, and accidents are covered.
Price Finding quality coverage at the right price is more important than ever.
The best way to find an affordable health insurance plan is to look at multiple options.
A local independent agent can help you do this.
Agents typically don't charge a fee for their services, but get paid if you purchase the policy.
They have extensive knowledge and experience that can make it easy for you to find the right plan at the right price.
Best of all, there's no difference in price whether or not you apply directly through the company.
Stability Make sure the company that you choose is financially stable.
Find out the company's financial ratings through companies like AM best or Standard & Poor's.
If you don't know how to look up the company's financial ratings, your agent can help.
Also be sure to find a company that has consistent and predictable rate increases on your plan's annual renewal.
Some companies can be wishy-washy and unpredictable when it comes to annual rate increases.
Others can be very consistent.
There are many things to consider when looking for affordable individual health insurance.
Coverage, price, and stability are just a few.