One of the best ways to find health insurance quotes is to use a comparison tool available on the Internet. There are many websites, such as QuickQuote, that have these kind of tools to help you with your health insurance needs. Inputting your age, location, and whether not you smoke should allow you to come up with a list of health insurance quotes for your area. Once you have a list of available policies, use the steps below to whittle the list down and find the quote that best fits your needs.
- Start by taking the list of health insurance quotes and eliminating any that are too expensive for your budget or that do not cover particular circumstances that you will likely need (i.e. pregnancy).
- Once you have rate quotes for policies that you can afford and that cover circumstances that are a priority to you, it is time to determine what kind of deductible you could pay. Remember, the higher your deductible is, the lower your monthly premiums should be.
- You may want to start by determining how likely it is that you will exceed the deductible. If no one in your family has any medical conditions and you do not plan to have any children, then choosing a very high deductible-in order to save money-is probably a good option.
- You should choose a deductible that you can afford. If something bad happens, you do not want to make it worse by having a $5,000 bill going to a collection agency and put on your credit report.
- Eliminate policies that have deductibles that are either too high or too low.
- Group the remaining plans by how much co-pay is required. The co-pay is how much of the balance the insurance company requires you to pay. For example, many plans will cover 80% of your bills and ask you to pay the remaining 20%. You can also take out a secondary health insurance plan to cover this remaining amount. This is called co-insurance.
- Throw out plans whose co-pay requirement is too high for you.
- Now it is time to choose which plan suits you best. If all of your remaining plans require the same amount of co-pay, all you need to do it choose the one with the lowest premiums and you are done! If you have more than one co-pay group (i.e. a group of plans that require no co-pay, a group of plans that require 20% co-pay, and so on), choose the lowest-priced plan from each group and move on to step #9.
- Take these quotes and estimate how much you will save per year by choosing a plan with a higher co-pay requirement. If this amount is substantial, and you do not plan on using your insurance often, then you may want to choose the plan with the high co-pay requirement. If you will not save that much on monthly premiums and you use your insurance five or more times per year, then you may want to choose the plan with the lower co-pay requirement.
Using a health insurance comparison tool and weeding down the list it generates for you, is your best shot at finding health insurance quotes that are right for you. Your only other option is to contact each company in your area individually and have the company help you determine which plan is best suited for you.