Buying private health insurance in Arizona can be pretty tricky, especially if it’s your first time. There are so many nooks and crannies in the realm of insurance that it might be difficult for first timers to identify whether or not they’ve got a good deal. If you want to make sure that the policy you get is the policy you need, read through these helpful pointers to guide you through the private health insurance acquisition process.
Tips on Getting Private Health Insurance in Arizona
- The Early Bird – Being early isn’t only beneficial in the workplace or at school; getting your insurance coverage earlier than you need it will be the best decision you make in the process. If you thought you could make a claim right from the get go, you’re mistaken. Insurance providers will have you wait a certain period of time before you can reap the benefits. During this time, you will be making monthly premium payments to earn your coverage. After a certain amount of time (usually anywhere between 2 months and 36 months) your insurance carrier will then allow you to make a claim. This waiting period is enforced to keep insurers from having to shell out cash for people who have yet to make premium payments.
- Your Deductibles – Decided to go with a lower premium now? That might seem like a smart idea if you want to set aside a few extra bucks, but remember, smaller premiums mean bigger deductibles. Let’s say you were involved in an accident and you availed of the benefits your private health insurance in Arizona provides. With a lower premium, you can expect that coverage would only pay for up to a maximum of 60% of your hospital bill. The 40% has to come out of your own pocket. If you want to keep that 40% on the down low, you should opt to pay for a higher premium on a monthly basis, which can reduce deductibles to only 10%. Pay a little more today and save a whole lot tomorrow with bigger premiums.
- There are Annual Limits on Extras – So, you’ve got some extra coverage outlined in your policy. Don’t think you can just keep on availing to your heart’s desire. There are limits on extras, usually called annual limits, that state just how much your insurer will agree to pay for these extras in a year. Make sure you read up on your policy and the annual limits on extras before you go on a splurging spree you might end up having to pay for.