What should I consider when acquiring or evaluating health insurance?

Health insurance protects you from both the smaller out-of-pocket costs of health care and large medical bills that major illness can bring.

Important matters to consider.

  • If your employer offers a range of coverage, carefully evaluate the alternatives so that you select the policy that best fits your and your family's needs. I hate to remind you, but as your generation ages, it will become a more active user of the health care delivery system, so it's particularly important to select the coverage that's right for you.
  • If you are self-employed, check with local business associations or trade associations that offer health insurance to their members at group rates.
  • Make sure that children who are in college or recently out of the nest have adequate health insurance coverage.
  • If you plan to retire before Medicare kicks in, plan in advance to secure coverage during the interregnum.
  • Examine any medical bills you receive for accuracy. Even though you may not be paying the bill, it is incumbent upon all of us to make sure we're not being overcharged.
  • Keep abreast of any changes imposed by the Patient Protection and Affordable Care Act (ObamaCare) that are likely to affect your health care. Use these links to improve your knowledge of The Affordable Care Act:

Healthcare.gov
The US Senate's PDF