Insurance Companies
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If you’re looking for a health insurance quote, chances are you need individual or family coverage as opposed to a plan for employer groups or organizations. Individual and family health insurance plans are usually described as either “indemnity” or “managed-care” plans. There are several types of managed-care health insurance plans. These include HMO, PPO and POS plans.

 

How can you tell if a plan is good?

Get in touch with the National Committee on Quality Assurance or the Joint Committee on Accreditation, both of which issue reports on various plans. Bear in mind that both these organizations are financed and administered partially by the healthcare industry. Another resource is your state’s department of insurance, which can give you reports on plans, or information on complaint ratios.

 

Market-based health care systems such as the United States rely heavily on private health insurance. Medical insurance is more costly because of progress in medicine and medical technology, and people in developed countries are living longer. Lack of exercise, poor food choices, a scarcity of doctors in poor or country areas, excessive alcohol use, smoking, street drugs, and obesity among certain parts of the population, and the modern sedentary way of life are some of the other health related factors that cause an increase in insurance prices.

Of course, there is also Medicare, a government program that supplies health coverage for people over 65, in addition to people with certain disabilities that prevent them from working. Medicaid is another government program that is primarily geared towards low-income families with children. Each state operates its own Medicaid program, although it is federally funded.

 

There probably as many health insurance companies as there are differences in health insurance plans. You definitely want a company with the financial strength to live up to its promise to pay in the event you have a claim. Check companies out with the Better Business Bureau and the local Department of Insurance. Look at the company’s website as well, and view the benefits of its health plan, as well as its provider directory to make sure the plan covers visits to doctors in your area.

 

One of the things you must check out when shopping for any kind of insurance is the insurer’s financial strength rating -- the company’s ability and willingness to pay on claims submitted. A badly run company with insufficient cash flow might be slow when it comes to paying claims. Make sure you investigate the company before making any purchases. If you’re not sure about the company’s reliability check them out at www.insure.com They provide free access to Standard and Poor’s insurance ratings. There’s no reason why you should ever put your money with a company whose rating is lower than AA.

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• Ensure you work with a licensed agent
• Demand quality phone support
• Try to find seals of approval or quality ratings