Confused to select a best INSURANCE POLICY? We are here to help you out!!

INSURANCE POLICY: Any type of insurance like Home, auto, life, even small business, if any of these you want to purchase or want to get knowledge about, then start with some fundamental knowledge about how insurance works for you.

28.01.2023 16.56.14 REC 1 3

Auto Insurance

Auto insurance is a contract between you and the insurance company that protects you from financial loss in the event of an accident or theft. In exchange for paying a premium, the insurance company agrees to pay for your damages according to the terms of the policy.

Life Insurance

Life insurance can help ensure financial stability for your beneficiaries and create a meaningful legacy. Find resources to achieve your goals and build a solid foundation to support your family through all stages of life.

Homeowners + Renters Insurance

A home is more than just where you live, it’s where memories are created and shared. Learn how to protect your home from common perils and how to purchase the right amount and type of insurance to protect your family and their belongings.

Financial Planning

A guide to making insurance and related products a cornerstone of your household’s financial security, whether building assets to meet future goals or planning for disruptions that could affect your family’s security.

Business Insurance

Whether it’s a home office, a successful retail store or a thriving business with changing needs, you need to manage your liability and business interruption risks. Here are facts, insights and guidance to help you acquire the right insurance coverage to protect and grow your dream.

Disasters + Preparedness

Disasters happen, but planning ahead can save your time and maybe even save your life. Learn how to arm yourself and your household with preparedness strategies that will give you peace of mind and make all the difference when fire, natural disasters or other hazards strike.

Other Insurance Topics

Learn about important additional insurance such as flood and earthquake insurance and find valuable information about mortgage insurance, watercraft insurance, identity theft protection, travel insurance and even policies for your pets.

5 things to know before you choose a health insurance policy

Consider your family’s needs: If you are married and/or have children, consider your family’s health care needs. Since coverage can change from year to year, it is important to know which plan(s) is best for your situation. For example, if you and your spouse have very different health care needs, it may be beneficial to purchase separate plans with different levels of coverage or different prices.

The 4 “metal” categories: There are 4 categories of health insurance plans: bronze, silver, gold and platinum. These categories show how you and your plan share costs. The plan categories have nothing to do with the quality of care.

Your total health care costs: you pay a monthly bill to your insurance company (a “premium”), even if you do not use medical services that month. If you do use medical services, you pay the cost out of pocket, including a deductible. It’s important to consider both types of costs when choosing a plan.

Plans and Networks: HMO, PPO, POS and EPO: Some plans allow you to use almost any doctor or health care facility. Others limit your choices or charge you more if you use providers outside their network.

  • HMO – A type of health insurance that generally covers only services provided by physicians who work for or are under contract with the HMO. Except in emergencies, out-of-network care is usually not covered. An HMO may require that you live or work in its service area to be eligible for coverage. HMOs often provide integrated care and focus on prevention and wellness.
  • PPO – A type of health plan that contracts with medical providers, such as hospitals and physicians, to create a network of participating providers. You pay less when you use providers who belong to the plan’s network. You can use doctors, hospitals and providers outside the network for an additional charge.
  • POS – A plan where you pay less when you use doctors, hospitals and other health care providers who are part of the plan’s network. POS also requires that you get a referral from your primary care doctor to see a specialist.
  • EPO – The plan only covers services if you see doctors, specialists, or hospitals within its network.

Make sure your medications are covered:  Make a list of your medications and note whether you are taking brand-name prescription drugs or generic drugs. Brand-name or patented drugs can be expensive, so it’s important to find a policy that covers them. Generic drugs are usually less expensive. So, if you take mostly generics, you may be able to cast a wider net or pay more comfortably out of pocket.

Call your insurer to find out if the drugs on your list are covered by insurance. Be sure to ask about co-payments for filling and refilling prescriptions.

Below are the 25 largest health insurers in the United States, ranked by market share size in descending order:

  1. United Health
  2. Kaiser Foundation
  3. Anthem Inc.
  4. Centene Corporation
  5. Humana
  6. CVS Health
  7. Health Care Service Corporation (HCSC)
  8. CIGNA
  9. Molina Healthcare
  10. Independence Health Group
  11. Guidewell Mutual Holding
  12. California Physicians’ Service
  13. Highmark Group
  14. Blue Cross Blue Shield of California
  15. Blue Cross of Michigan
  16. Blue Cross Blue Shield of New Jersey
  17. Caresource
  18. UPMC Health System
  19. Blue Cross Blue Shield of North Carolina
  20. Carefirst Inc.
  21. Metropolitan
  22. Health Net of California
  23. Local Initiative Health Authority
  24. Point32Health
  25. Blue Cross Blue Shield of Massachusetts

It’s not enough to just get the best health insurance for your family. You should review your coverage each year to make sure the plan meets your needs. Also, if you decide to add additional coverage or increase the amount of coverage as your needs change, you should do so when you renew your policy. Also as soon as possible look for the other insurance also. All insurance type are important as same as health insurance.

A health insurance plan is non-negotiable. If you want to purchase such insurance for your family, make sure you choose the right plan. Consider the above points and compare different plans to find the best one and then buy accordingly.

Since health insurance plans can be ported, meaning you can switch to another insurance company every time you renew your contract, you do not have to wait for the perfect plan. You can always switch later. But remember, the most important thing is to buy it now, without delay.

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