More often than not, those seeking health insurance dive into looking at plans before first researching the insurance company offering that plan.
Before expending time and energy on finding a plan, see if that company with the plan has the right network, is easy to work with, and dependable.
Does The Company's Network Work For You? A health insurance company's network can stretch from coast-to-coast, but if it doesn't include your doctor(s) then that expansive network becomes a lot less impressive.
In addition, if the network has you driving a half hour to get to the closest in-network doctor or medical facility, it's probably not worth pursuing a plan with that company.
It's a good idea to first look at local companies since they're more likely to have a larger pool of local doctors in their networks than national companies.
Of course, the above factors to consider assume you're looking at an HMO, which only allows you to see a pre-selected group of doctors.
A PPO allows you to see anyone.
If you do not have a primary physician and have little concern about which doctor you see then save on monthly insurance costs by going with an HMO.
If you would like to continue seeing your primary physician or have a group of doctors you're interested in, then you have to research companies' networks to see if you can still get the cheaper HMO plan.
What Are People Saying About This Company? A company's website or brochure can say all the right things.
But then the harsh reality sets in and you learn that their customer service leaves much to be desired, their prices are conditional, and their plans don't cover as much as you thought.
Unfortunately, most people discover this only after they enroll in a plan.
To avoid this, start tapping into the word-of-mouth scene.
Discuss insurance companies with friends, family, or co-workers that may hold a plan with the company you're looking into.
Find out if they've had any nasty customer service experiences or if the company always gives them a hard time about covering their claim.
Another resource is the Better Business Bureau-give them a call to discuss a company's pluses and minuses.
Your best source for reviews is likely to be the Internet.
There are countless review sites with ready, willing, and able customers giving unmitigated, passionate reviews-good or bad-about insurance companies.
However, don't let one review throw you if the rest are saying the opposite.
Every company is going to have a hiccup at one time or another.
This Company Is Solvent, Right? It sounds like a silly question, but it can be the difference between having a claim covered or being left high and dry.
An insurance company becomes insolvent when they collect less in premiums than they have to pay out in claims.
It happens.
Local insurance companies hit with natural disasters in areas where most of their clients live will often be the first to fold due to a flood of claims around the same time.
From this standpoint, it's better to go with a larger, nation-wide insurance company whose clients are spread out, geographically.
That said, you should still review the company's financial status to make sure it will be around for years to come.
If the company is publicly traded, go to http://www.
sec.
gov to pull up their financials.
If not, it can be a little tricky, but try Dun & Bradstreet's website (expect to be charged a fee).
After answering these questions, you should feel comfortable going with a particular insurance company.
Remember, a plan is only as good as the company offering it.
Do your homework to avoid any unpleasant surprises down the road.
Jeff Gibellina