Upward Not Northward

Individual medical insurance come in different sizes and shapes. The maximum amount an insurance company will cover or pay for a specific medical service varies from a few thousands to a few million. Deductibles also vary, thus you may have to pay an initial US$500 to US$5,000 before your insurance starts paying your medical bills, depending on your premium payments. Again, exclusions, or the services excluded from coverage, can also vary widely. The start of coverage can also be different, with some beginning as soon as your payment is received, while others may only begin after a specific period. Examine these details carefully to determine if they suit you before signing up.

Also, be sure that your plan is non-cancellable and that you are provided with the guarantee to renew your coverage when the current plan expires. It is unfortunate that some states allow insurance companies to cancel health plans once the insured become sick.

If a company will not give you a number of days to study and scrutinize the documents, don’t even think of buying their product. Insurance policies often come with a lot of small print. You will need to read all of it before giving them your check or credit card number.