How to Read Health Insurance Plans
What you need to know when looking for an individual health insurance plan. Having health insurance is a necessity. Medical bills are the number one cause of bankruptcy in the United States. Health Insurance limits your exposure with a maximum out of pocket expense. While covered, you receive the major benefit of paying for health care at the negotiated rates that each insurance company has predetermined with the hospitals and physicians. Since Anthem is the largest health insurance company they have the lowest negotiated rates. Negotiated rates can change your medical bills from $7,000 from the hospital to $1,500.
Deductible – you will play this before the plan takes effect. Once your deductible is reached you will pay co-insurance until your maximum out of pocket is reached. Co-insurance is where you pay a percentage of the bill and the insurance company pays the other percentage. After your out of pocket maximum is reached you will be covered till your lifetime maximum. An example of this is, Anthem’s 7 million lifetime maximum on some of their plans.
Direct Health Insurance Links
Anthem: Previously know as Blue Cross, Anthem is a great company to have insurance with. Anthem has the largest network of providers in California so they have the best contracted rates.
Blue Shield -Blue shield is very competitive with Anthem
Interim Coverage is needed for any individual looking to get insured that waited longer than 60 days after losing their company provided insurance.
Dental Discount: This is a great way to not have a high monthly premium for Dental Insurance and not pay a fortune at the dentist.
Aetna is not providing individual coverage now in California because of the new Obama Care rules.