You need to be extremely vigilant and careful when buying health insurance. If it is a group health insurance plan you have a little less to worry. Private health insurance has a stricter underwriting process. It is based on your age, weight, health history, whether you smoke or not and in some cases even a result of a medical test conducted by the insuring company is considered.
How does it work?
Private health insurers may conduct a medical examination on you to check if you are in good health. This will help determine the premium you pay your insurer. If you have a pre-existing condition, your premiums may go up. If your medical history shows anxiety or depression, your insurer may think twice before selling you health insurance, but if it lists heart diseases, cancer or diabetes, you will likely be denied a health policy.
You should be aware of how it works in your state. Some states allow it for all individuals regardless of any factor. The premiums are naturally high.
How to buy it?
If you are on COBRA, start shopping for health insurance till the COBRA lasts. To save on time and energy, you could look for health plans on the internet. You could also contact a local broker to help you out with your choice. The broker you choose must represent a lot of insurance companies so that you can have much choice. You may also check out with the professional trade association for group coverage.
What is the cost of health insurance?
The cost of health insurance depends on a lot of factors. You could make use of an insurance calculator to find out how much you need to buy. You can make your premiums manageable by increasing your deductible.
Make sure you read through the papers before you make the final decision and sign on the papers. There may be underlying clauses in the documents which you would otherwise miss if you don’t read the fine print properly. Maybe a low rate would attract you initially but there might be hidden costs you are not aware of. To avoid these hassles read through the papers and then make your decision.