Shopping for affordable health insurance in Santa Monica

[gplus count=”true” href=”” size=”Medium” ]Shopping for affordable health insurance in Santa Monica requires research. Here are some good tips to make the research easier.

TIP # 1 – Shop the insurance market –  

Every year you should shop around for better insurance. See if it make sense to switch plans or providers; insurance carriers always coming out with new plans. Unfortunately health insurance carriers do not give discounts for company loyalty. The rates are based solely on health status, age and location.

TIP # 2 – Do not use out-of-network doctors

Double check with your insurance if your doctor is an “In-Network Provider”. Using “Out-of-Network doctor” can be very costly, as the insurance company are only paying their standard rate and you are responsible to pay the doctor the remainder.

TIP # 3 – Pay for Brand Prescription

Generic only plan are less costly than Brand and Generic Prescription Plan. But you should be aware of the fact that for most critical illnesses,such as cancer the prescription medication are mostly brand and non-formulary prescription. If you have a generic only plan you are not covered. This can be very costly, for example cancer prescription can be $ 2-4000 a months.

TIP # 4 – Go into Higher Deductible Plans – or Limited Doctor Visits

In order to offset the steep increases in health insurance premium, many families increase the deductible on their plans. If you do this, start putting each month $ 100 towards a saving account, so that you are able to pay your bills when the unexpected happens. If you are not going often to the doctor, I would recommend to use a plan with limited doctor visits but keeping the deductible the same.

Remember if you are on deductible plans of $ 3500 or $ 5000, you might have to pay yearly this deductible should you get a chronic illness. The insurance companies will not allow you to go on lower deductible plans once you have a critical illness. Are you comfortable with that ?

TIP # 5 Add Supplemental Insurance

To be prepared for the unexpected add a supplemental insurance. Add a critical illness insurance, which will pay you a lump sum, if you have a critical illness. Young families can add an accident insurance, for as little as $ 40,- per month, or singles for $ 20.00 a month.

TIP # 6 Always Read the Out-Of Pocket Maximum

After the deductible is reached, you have to pay a coinsurance , which can be as little as 20% – or as high as 50 % until you reach the “Out-Of-Pocket Maximum” read what this limit is!

We hope these tips will assist you in your selection to find affordable health insurance in Santa Monica.