Health insurance shopping: Top questions to ask
Oprah recently aired the show Sick in America: It Can Happen to You. Kimberly Lankford, insurance expert and author of The Insurance Maze, shared six strategies for landing not only health insurance, but the right policy for you.
- Make sure your maximum coverage is between $3 and $5 million or a major illness could jeopardize your finances.
- Higher deductibles ($1,100/individual or $2,200/family) significantly lower monthly premiums. They also qualify for a health savings account for tax savings.
- Check your medical bills and insurance explanation of benefits for errors. They're more common than you think.
- Keep meticulous records and secure answers to your questions in writing to fight disputes down the line.
- Periodically review your health insurance needs and options to find the best fit. Speak up to Human Resources if you're having a bad experience with your employer's health insurance company, others are likely feeling the same.
- In a dispute? Lean on your state insurance department for appeal advice.
Good tips -- I'm fighting two ER bills right now that were coded incorrectly -- sticking us with 20% of the ER/physician/radiology costs versus a $50 ER co-pay.
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Reader Comments (Page 1 of 1)
10-03-2007 @ 8:55PM
gary\ said...
I have a $5000 deductible. A friend works for a large corporation and has the best health plan you could ask for. He goes to the doctor 2-3 times per month for virtually every cold, sneeze, cough, and ailment because they have a small copay. It makes me wonder if group plans had deductibles instead of a very, very small copay if it would level the playing field for everyone. Someone has to support those group plans. And don't say the corporation. Maybe through the law of averages the health companies make money off the corporations but you have to wonder if people under those plans abuse them as well due to the small copays.
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