How to choose the best health insurance coverage plan?
The task of choosing a suitable plan makes many people confused. You need to follow the right method of approach to make the best decision. More and more people prefer to purchase health insurance individually nowadays rather than opting for employer-purchased health insurance.
Today you can find many different types of individual plans. It is necessary to assess the pros and cons of different plans to make an informed decision.
Here are 6 easy tips for picking the best health insurance plan:
1Learn when to buy a health insurance plan
You could have purchased an individual health plan at any time of the year before 2014. The healthcare reforms in 2014 restrict the period of buying an individual insurance plan. You can purchase a plan only during the open enrollment period except for some special circumstances.
Generally speaking, the open enrollment period in most states is between 1 November and 15 December. Some states have extended the time limit up to 31 January. To buy a health plan out of the enrollment period, you need to have a qualifying life event such as getting married, moving, having a baby, adopting a child, leaving incarceration and loss of other health coverage due to job loss or divorce.