Docstoc

Health insurance companies: How to assess them

Document Sample
Health insurance companies: How to assess them Powered By Docstoc
					       Health insurance companies: How to assess them
When you are doing an analysis to find an appropriate health insurance that is
within your budget and completely meets all your needs is really a great task. If
you are planning to tie up with an insurance company in order to get the best
individual health coverage or group health coverage, there are quite a number of
things to consider and it is not only the payments or out-of-pocket expenses you
will incur.

Verification is important before getting a policy

It is very essential to evaluate the insurance provider with whom you want to
associate. The company has to be effectively famous, trustworthy and it should
have a good track record. Certified insurance professional will suggest you to
check some different areas to evaluate the policy provider:

    Financial rating and stability of the health insurance company.

    Quality of health service which the company is able to provide.
    Degree of customer satisfaction.


Financial stability is an important aspect of any assurance provider. There are
some free resources available like Moody's and Weiss; they will publish the
ratings of health insurance Company along with other correlated information, so it
is easy to verify the financial status of the entity with the help of these
organizations. In these days, health coverage portals will provide ratings of the
company before you buy a policy.

The next thing you have to do is to find out and examine the quality of
healthcare service that is provided by the company. Here one example is given
for your better understanding;

Suppose you are under an indemnity health plan and selected a doctor, but if you
are not happy with the quality of service you are getting, you must be able to go
for some other physician.

Try to clear your doubt by asking as many questions as possible, inquire from a
representative of the assurance provider whether you can change the initial
medical doctors in middle of the year of your policy. If the reply is not in your
favor, then the company may not be flexible with the other private health related
concerns as well.
The last but not the least is customer satisfaction. You have to find out whether
existing customers are happy with the services provided by the entity. An
insurance company has to be capable of quickly and proficiently responding to
patients' requirements, as it is vitally important for their good will. Since, you
will be in regular contact with the insurer, thus a good relationship with the
assurance provider will make a vast difference relating to your satisfaction with
that organization.

While evaluating various health coverage companies and their different plans, you
should not only have to do a general investigation about them but also search
whether they provide the cares that are needed by you.



 Source : http://www.forhealthplans.com

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:3
posted:9/22/2010
language:English
pages:2
Description: When you are doing an analysis to find an appropriate health insurance that is within your budget and completely meets all your needs is really a great task.