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Sign on with the health insurance provided by your employer: it is
likely to be the cheapest option you can find. Search for your own
insurance if you're self-employed, or if your company doesn't offer it.
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Investigate coverage under COBRA (Consolidated Omnibus Reconciliation
Act of 1985) if you've recently left your employer. Through COBRA you
can extend your coverage for 18 months beyond your separation date,
though you have to pay the premium yourself.
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Find a health insurance broker to compare plans and costs for you.
The National Association of Health Underwriters (nahu.org) can help find
one in your area.
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Purchase a fee-for-service plan. The biggest plus is that you have
complete control over which doctor you see and determine for yourself
when you need to see a specialist. However, there is a significant
out-of-pocket cost for this kind of care, the premiums are generally
higher, and if your doctor charges more than what is considered
customary, you may have to shell out additionally for that care as well.
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Sign up for a managed care plan where your insurance provider
determines which doctors you can see. There are three basic kinds of
managed care:
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Preferred provider organizations (PPOs) have a list of doctors to
select from when choosing a physician who will be your first contact for
health care. If you see doctors in your insurer's network, you pay a
low co-payment. However, if you see a physician not in the network, your
co-pay is higher. You also generally don't need prior approval to see a
specialist--PPOs give you the most flexibility but cost more in monthly
premiums and out-of-pocket costs.
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Point-of-service (POS) networks are similar to PPOs, except that your
primary care physician makes decisions about which specialists you can
and can't see. You can still see a physician outside the POS network,
but face higher fees and more paperwork to do so.
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Health maintenance organizations (HMOs) are the most restrictive, yet
least expensive managed care programs. Most require that you see a
doctor in their network, but offer low or no copays in exchange. Many
HMOs also require you to see your primary care physician before getting
referred to a specialist.
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Find out if benefits are limited for preexisting conditions, or if
you have to wait for a period of time before you're fully covered. Other
plans may completely exclude coverage of preexisting conditions.
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Compare the prescription drug coverage offered by various plans. Many
plans have tiered benefit systems, and usually offer a preferred list
of prescriptions that have a lower co-pay. Search for any medication you
are taking on this list; drugs not on the list can have a co-pay that
is twice as high. Also, see if any plans limit the amounts of new
prescriptions or refills on a given drug.
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Check to make sure your regular doctors are on your plan's preferred
provider list. All plans provide a database of their provider list on
their Web site. Go with a plan that lists most or all of your regular
doctors. Be aware that most PPOs will pay up to 20 percent less for
out-of-network doctors.
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Investigate what sorts of delays you may encounter with managed care.
Some plans are notorious about keeping members waiting to see a doctor.
Ask a doctor you intend to visit how long a typical wait is before you
choose a plan.
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Shop around. Call several agents and compare policies and premiums.
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Look into other potential sources for health insurance. Alumni
associations, professional groups, fraternal organizations and other
associations often offer health coverage to their members.