If you thought hat being employed was a boon this Christmas, well, you are in for more than a simple treat. This is because of the fact that with the healthcare costs rising like a phoenix on jet fuel, you should thank your stars that you are employed – hence eligible for a group health insurance plan. This goes doubly so for people who have pre-existing conditions, as in such instances the cost of healthcare or health insurance quotes go up even more! Even though ‘Obamacare' promises to take care of rogue insurance providers who deny coverage or compensation claims from people with pre-existing conditions, stronger implementations of that Act is still a year and a half away!
So here are some tips to pick the best group health insurance plan, as an employee and not as an investor or entrepreneur – to give you a fair idea of what is involved and what benefits you may stand to enjoy if you get it right!
• Make sure your boss or the board of directors or the senior management know about the employees' version of what kind of group health insurance policy they need. A lot of teams get bad policies because they never make it clear to their seniors about the kind of health insurance that would benefit them – including riders and clauses, even if they are taxed extra for the same.
• Look for clauses and exceptions for pre-existing conditions. If you are one who suffers from the same, ensure that the clause is either added off in the policy, or get individual health insurance quotes to tally for costs and coverage benefits vis-à-vis the group health insurance plan!
• Read the fine print thoroughly. If you don't get a point or think there is too much legalese or jargon that should be clarified, get assistance from the resident insurance agent or online insurance manuals. Do not sign up for a policy that you have NOT completely understood.
• Always compare costs of the group health insurance policies and the individual health insurance quotes. A lot of people forego group health insurance simply because they have it easier and affordable at individual insurance policies than when insuring as a group.
o These are usually perfectly healthy individuals who have no pre-existing conditions and have spotless medical records. And usually the ones who sign up for group health insurance policies are seniors and people with pre-existing conditions or women, all of whom have the odds of getting affordable healthcare insurance stacked against them (at least for now, and till the ‘Obamacare' law comes into effect by 2014).
The fact that there are an umpteen number of factors that decide the fate iof your health insurance showcases why group health insurance cannot be taken lightly – even when it is pretty much cheaper than what you would have been able to acquire out of the corporate grid.
If you are a wise guy, you will know that customized health insurance quotes are always the best – and off-the-shelf ones are the worst!
So here are some tips to pick the best group health insurance plan, as an employee and not as an investor or entrepreneur – to give you a fair idea of what is involved and what benefits you may stand to enjoy if you get it right!
• Make sure your boss or the board of directors or the senior management know about the employees' version of what kind of group health insurance policy they need. A lot of teams get bad policies because they never make it clear to their seniors about the kind of health insurance that would benefit them – including riders and clauses, even if they are taxed extra for the same.
• Look for clauses and exceptions for pre-existing conditions. If you are one who suffers from the same, ensure that the clause is either added off in the policy, or get individual health insurance quotes to tally for costs and coverage benefits vis-à-vis the group health insurance plan!
• Read the fine print thoroughly. If you don't get a point or think there is too much legalese or jargon that should be clarified, get assistance from the resident insurance agent or online insurance manuals. Do not sign up for a policy that you have NOT completely understood.
• Always compare costs of the group health insurance policies and the individual health insurance quotes. A lot of people forego group health insurance simply because they have it easier and affordable at individual insurance policies than when insuring as a group.
o These are usually perfectly healthy individuals who have no pre-existing conditions and have spotless medical records. And usually the ones who sign up for group health insurance policies are seniors and people with pre-existing conditions or women, all of whom have the odds of getting affordable healthcare insurance stacked against them (at least for now, and till the ‘Obamacare' law comes into effect by 2014).
The fact that there are an umpteen number of factors that decide the fate iof your health insurance showcases why group health insurance cannot be taken lightly – even when it is pretty much cheaper than what you would have been able to acquire out of the corporate grid.
If you are a wise guy, you will know that customized health insurance quotes are always the best – and off-the-shelf ones are the worst!
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