Good Health Insurance – 3 Tips For Finding The Best Coverage

Mickey | Financial Services | Friday, November 26th, 2010

How do you find good health insurance? First, here is a definition of “good”-a policy that covers your needs without requiring you to break the bank.

Remember-in most instances you do not need as much coverage as you think. You will likely end up paying more into your health insurance than you get out, if you are like most people. Therefore, do not just assume you have to get the most expensive policy. Usually it is not necessary. Here are three tips to help you find a good health insurance plan with sufficient coverage, while still saving money:

#1) Make sure the maximum payout is enough

Quite simply, there is no minimum coverage amount that is required for health coverage, as is the case with car insurance.
Therefore, the max payout in the event of an emergency is totally up to you. The higher this number, the more you will pay for your monthly premium. For this reason, think about how much you have in savings, and use that to help plan for an emergency.

In other words, simply figure out how much of your own money you can afford to put up in the event of an emergency. This will help you know roughly how much coverage you need. and his is how to find affordable good health insurance.

#2) Get a policy without prescription coverage

This is one of the major things that raises the price for policies. If you do not take a lot of prescriptions, there is no reason to have your policy cover it. Most prescription drugs are unhealthy anyway. Therefore, going without them could not only benefit your health, but also save you money on coverage.

#3) Get a high deductible

This can mean the difference between paying $80 or $200 a month. In other words, make sure you figure out your savings and get as high a deductible as you possibly can.

Conclusion: finding good health insurance is simple. First, evaluate your needs, and then find the cheapest policy that meets them.

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