| The Basics |
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Allright, you've made the decision to start shopping for health insurance. You have an idea of how much you can afford, but you are unsure of everthing else. Here are a few basics you need to know to get started and make a decision: What should I expect? The "searching to purchase" cycle is now 100% electronic. The normal steps are:
Am I eligible? Most folks get frustrated by this question even before they start shopping. They make assumptions, get bad advice, or just don't know where to look for answers. One important tip is to not give up if you've had a previous medical condition! Did you know that Colorado has a "safety net" insurance plan for people who are denied coverage from a commercial carrier? These plans are guaranteed to be issued to you, regardless of your previous medical condition. What if my condition caused a rate up? Not all underwriting departments are the same. If your medical history caused your coverage to be modified by one company, you may sail through another company's underwriting process. Why? Because insurance companies continually tighten and loosen their underwriting guidelines. They reduce timelines requirements, change eligible conditions, and have executive turnover to name a few reasons. Nothing about the process of selecting and being approved for health insurance stays the same. Click on the article Health History for more information. How do I select the right plan for my family or me? This is easier than you might imagine. There are two basic types of plans available to any insurance shopper - the copay plan design, or the health savings account plan design. These two "core" styles of plans, however, do vary. The differences between these basic types of plans serve an important purpose in the marketplace. They allow you to purchase the correct amount of insurance for your lifestyle and health habits. Please see What's a Gotcha? for more on this topic.
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