Where can I get medical insurance?

Where can i get affordable medical insurance?

• I need to get affordable medical insurance for my wife and I. We both work and our jobs don't provide insurance. Any suggestions?

• Answer:

  You need a trusted adviser to help you through the process of purchasing health insurance so that you understand what you are purchasing. Understanding what you are buying is as important as the price. An agent can give you the knowledge you need so that you can decide what the right balance is between affordability and policy benefits. If you choose a plan that covers everything i.e. doctors office visits, prescription drugs, preventative health benefits, maternity coverage as well as low deductibles, low co-pays and optional vision and dental benefits your monthly premiums will be significant. You don't mention your ages. If you are young, healthy and don't often use the health care system you might consider a plan that covers only the major health catastrophe. In this type of plan the insurance company does not pay benefits until you first reach a significant out of pocket cost. Ask the agent if an HSA in conjunction with a high deductible health plan is right for you. If you'd rather have more comprehensive individual health insurance coverage, to include benefits such as preventive care coverage, consider a PPO or HMO plan with an in-hospital deductible. Consider higher co-pays for doctor's office visits and perhaps not covering prescription drugs. Either of these approaches will result in a lower monthly premium. You then can use the monthly premium savings to pay for the occasional doctor visit or prescription and still come out ahead. Check with the agent that writes your home or auto insurance he/she can provide you a health insurance proposal that takes into account your budget and health status. They can answer questions so that you understand what is and is not covered by the policy. They can explain deductibles and co-pays and show you the hospitals and doctors that participate in the network. (Networks in PPO and HMO plans are very important considerations). Some are going to suggest you go to their web site so that they earn a few pennies on a "click through". Some may suggest going on line to get a quote but you probably know there is much more to choosing the right health insurance than price. Use the Internet to educate yourself but use an agent to purchase the coverage.