How to Do Health Insurance Comparison Before Buying

Before you start comparing health insurance plans you should know the 3 basic factors that determine health insurance rates:

1. Your age. Premiums increase as you grow older, but the benchmark is age 65. This is the age where a person is eligible to receive Medicare from the Federal government.

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2. Where you live. Federal and state laws regulate insurance and differences exist between states. Medical care costs depend on the geographic area where you reside, so insurance premium rates can vary for different locations even within the same state.

3. Your health and habits. Some insurance carriers will not accept applicants with pre-existing conditions. But they differ on what type of disease, occupation, or other conditions are not acceptable. Some conditions, such as kidney failure that require dialysis, are eligible to receive Medicare.

Check if your employer provides group health insurance for company personnel. If yes, check if it extends to members of your family. You can save money by identifying the extent of your group coverage, and getting additional health insurance only for those areas that you lack. If you're self-employed or have your own business, you should get private individual health insurance because expenses due to unexpected illnesses, or other medical emergencies, can be a huge financial drain on anyone.

The common types of private health insurance include:

• HMO. Health Maintenance Organizations are known for affordability. HMO coverage means your medical needs should be attended to by a network of hospitals and physicians under the HMO organization in your health plan.

• PPO. Preferred Provider Organizations are also a form of managed health care similar to HMO. But PPO's are flexible because you can get partial coverage for health services outside their network.

• POS. Point-of-Service means you need a primary doctor for your coverage. It's somewhat similar to PPO since you can also avail of partial coverage outside its network.

• FFS. Fee-for-Service is a traditional form of health insurance coverage. It's much more comprehensive because you have options to choose where you get your medical needs attended to. It's also more expensive than the other forms of coverage. In general, a health insurance policy that costs less in terms of monthly premiums means paying a larger share of the medical expenses.

Aside from premium rates, the other costs of health insurance coverage you should be aware of are:

• Co-Insurance. This is a portion of the total amount you may be required to provide. It can be anywhere from 10% to 80%. For example, if a medical procedure costs 0 and your co-insurance is 10%, then you need to pay . The insurance will cover the rest.

• Deductible. This is an amount set by the insurance company. You will need to pay this amount before the company assumes responsibility for further medical costs. It's generally computed on an annual basis.

• Co-Payment. This is an amount that you may be required to pay for visits to a doctor, or for a prescription. It's a charge that you and the insurance company agree upon prior to buying your plan.

Finally, keep in mind that this is just a guide to help your research on health insurance. More importantly, it's a guide to help you ask the right questions when comparing plans. To get the best answers you need the help of an expert.

Consult with a licensed, knowledgeable health insurance financial professional before buying your plan.

How to Do Health Insurance Comparison Before Buying

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Questions to Ask Yourself Before Buying Health Insurance

When buying health insurance, you should first consider several important factors. Know more about such considerations.

Everybody Needs Health Coverage

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This is a common knowledge. You could be in the pink of your health today, but you are not certain how your health could be tomorrow. Your resistance to illnesses might be strong but that could be no assurance that you would not encounter any accident. You may fall off your ladder at home or you might figure into a serious car accident tomorrow. Whatever happens, it is better if you are sure you have the right healthcare plan to keep you covered no matter what happens. If you do not like to go on a medical bankruptcy, you must start finding and buying health insurance plans that are appropriate for you.

Do Your Homework First

When buying health insurance, it is logically better if you would do your homework first. That means you should not immediately grab the first product that you encounter. You should be reminded that some health coverage plans are inferior compared to others. Strive to find and buy only the best, with the most comprehensive and most reasonable coverage. Here are three top questions you should ask yourself before buying health insurance. These are according to health insurance experts.

First Question

First, ask yourself, 'Do I prefer to keep my personal doctor?' For sure, you are at ease with a personal physician. Unfortunately, your current doctor might not be included in the network of doctors that are accredited by your healthcare plan. In this case, you should consider getting either an HMO or a PPO. When you decide to take an HMO, you should agree to consult only within the insurer's network of doctors if you want to stay covered of your policy. For its part, if you want to visit your personal doctor or any doctor for that matter without getting out of your policy coverage, a PPO plan would definitely be the right product for you.

Second Question

Second question to ask is, 'What is the current and anticipated coverage or need of my household?' If you were getting health coverage, whether individual or group, you would have your spouse and children also covered by the policy. In this regard, you should consider the type of health and medical services that you as well as your family needs on a regular basis. For instance, if one of your children has asthma, your plan must enable you to have your child see any asthma specialist.

Third Question

Lastly, ask yourself, 'How much would I spend for premiums and out-of-pocket expenses?' The HMO is a cost-effective policy if you want comprehensive health coverage without any out-of-pocket expense. As mentioned, if you want to consult with doctors who are out of coverage network of a plan, buying health insurance under the PPO is for you. Be prepared to shoulder out-of-pocket expenses like doctor's fees and laboratory charges.

Questions to Ask Yourself Before Buying Health Insurance

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Steps to Take Before Applying for Medical School

If you think getting into medical school is easy, think again. The whole application process can be very stressful and expensive, depending on how many schools you want to apply to. To get started, you should have an idea of which medical schools you want to apply to.

When you have a list of schools you want to apply to, start off by visiting each school's website to find out what the admission's requirements are. Many medical colleges require prerequisites in many science courses such as biology, chemistry, physics, and more. Be sure to talk to your campus science department to determine the general science classes you have to take. In most cases, medical schools require a minimum of B in all the major prerequisite courses before any consideration is given to students that are applying. It is important to note that lab is also required with every science class.

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The next step that isn't on the school curriculum but is just as important are extracurricular activities, try to find an activity relevant to the medical field. The best thing to do is to volunteer at the local hospital or health clinic so that when the time comes, they will write a recommendation letter for you which will boost your chances of admittance. Some schools require recommendation letters. The best thing to do is to get them from your professors and from places you have volunteered at.

Now, one of the most important things that are required for any consideration into any medical school is your MCAT score. It is the exam that determines whether or not you have the competency to pursue a medical degree. Many schools require a minimum MCAT score of 22 to apply but don't make that your goal when taking the exam, you want to aim for 30 or higher.

After completing the previous requirements, the next is the actual application. Many schools require applicants to apply on the AMCAS (American Medical College Application Service) website and each school usually requires a fee to apply, ranging from -0 which is not refundable. Once again, be sure to go over each medical school's admission requirements as each college requires something different so it's best to double check everything before applying.

It is definitely a much more stressful experience applying for medical school than it is to take premed courses to obtain eligibility because every medical school receives thousands of applicants and only a small percentage gain acceptance. The competition is fierce but having the right mindset to becoming a doctor and obtaining a medical degree will pay off.

Steps to Take Before Applying for Medical School

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