Why Buying Florida MEDICAL HEALTH INSURANCE On Price Alone Is A Mistake

The number of people buying their own medical health insurance is likely to reach 20 million this year 2010, according to an analysis by McKinsey & Co. With rampant unemployment, it's tempting to just quit and buy a high-deductible plan with the cheapest premium available. For better or worse, there is a lot more to take into account when comparing Florida medical health insurance plans compared to the monthly price tag.

Be sure you are considering an actual Florida medical health insurance policy and not a discount plan. Also, be cautious to cope with major insurers which have been rated by independent rating organizations, such as a.M. Best, for financial stability. While a rating of "A-" or more doesn't guarantee all your claims will be paid, it does offer assurance that the company has the financial ability to pay its customers' claims.

Here's What To Ask About MEDICAL HEALTH INSURANCE In Florida

One the most important questions to ask is the amount that your out-of-pocket expenses will be limited to, which is known as the utmost out of pocket. Here's a good example of why that's so important.

When Tina Smith bought a policy, she was impressed by low premiums and a $2-million lifetime coverage benefit. She did not realize that an annual limit of just $5,000 was lurking beneath that lifetime limit. This plan limited outpatient treatment to $5,000 per year.

When she developed lymphoma, Tina needed $91,000 for imaging scans along with other outpatient services. "I'm not health-care savvy, and it didn't eventually me I had to go over this with a fine-tooth comb," she lamented.

Individual MEDICAL HEALTH INSURANCE In Florida DOES NOT HAVE ANY Lifetime Limits

That $2 million lifetime limit was fairly standard, but healthcare reform has end these caps on coverage. Insurance firms can't put a limit on the quantity of coverage you can receive throughout your lifetime. You'll still have to guard against other types of limits, just like the annual limit that resulted in such huge medical debt for Tina.

Also, be sure you understand how a plan's deductible works. You need to only have one annual deductible, instead of one deductible per incident that could subject you to higher out-of-pocket expenses.

Florida Health Insurance Limits Coverage For Pre-existing Conditions

When you're buying your own coverage in what's known as the individual market, it's very difficult to get coverage when your health is bad. Children with pre-existing conditions gained guaranteed coverage this year 2010 with the passage of health care reform. Adults won't have that kind of protection until 2014.

It may surprise you to learn that pregnancy is termed "a pre-existing condition" in the average person market. Maternity coverage on individual Florida health insurance varies by the insurer and by the program, but individual plans usually do not provide maternity benefits just as that group plans do. Most individual plans do not offer maternity coverage unless you buy yet another rider.

Shockingly, all insurers in the individual market won't provide maternity coverage thoughts is broken pregnant. That means you need to buy this before pregnancy begins.

Worse still, insurers typically will decline your husband and children as well until after your child is born.

Health Insurance For Florida Limits Maternity Coverage

While you are pregnant, all individual Florida health insurance plans can refuse you coverage until after your baby is born. In the event that you get yourself a plan with maternity benefits before you're pregnant, it will typically include a waiting period before you're qualified to receive maternity benefits.

For instance, no maternity benefits will undoubtedly be paid during the first 12 months that your policy is in effect, but you may have coverage even when you feel pregnant through the waiting period.

Conception must have happened after you have had maternity coverage for a specific amount of time, such as 270 days. Any pregnancy that occurs before that 270-day limit wouldn't normally typically be covered, at least not fully covered.

Maternity benefits may be incremental. For instance, you may have a small benefit in the event that you become pregnant through the 12-month waiting period, a more substantial benefit should you become pregnant in the second year of coverage, and a much larger benefit when you get pregnant during the third year.

Carefully review any limits on your coverage, especially if you anticipate delivery complications, and remember to subtract your deductible. Maternity coverage is generally a separate advantage of yet another rider with another co-insurance charge and a deductible.

By Wiley Long - President, eFLhealthinsurance.com - Florida's leading independent online medical health insurance agency focusing on individual and family Florida Health Insurance [1]. Get instant Florida Health Insurance quotes [2], compare plans, apply online, and save your valuable hard earned money!