Heath Insurance Book, Chapter 1, Section 1
D o you like to get the most for your money? Have you thought about whether you are getting the best deal on health insurance? I had not when at my last employer because health insurance was paid for entirely by the employer. But when I left and paid to continue my insurance, I figured that I was probably getting a good deal: I was part of a group policy with lots of coverage that I thought would cost less than buying my own insurance.
Boy, was I wrong! It took a lot of time to gather all the information in this book, and I made mistakes along the way, but in the end I’ve selected a quality insurer, found a policy that works for my family, and I’m paying a whole lot less each month.
| My monthly payment for benefits from my previous employer was $1,166 a month and included dental and vision. My payment after using the comparison method presented in this book is $296 a month. It started at $318 a month when I began the book, but I made changes as I learned more. I chose to skip the dental and vision coverage. That’s a savings of $870 a month, or $10,440 a year. I feel good about the coverage that I’m getting, along with the other choices I’ve made in terms of benefit levels. I can honestly say that I sleep well at night with the coverage we’ve got. |
My health insurance payment started at $1,166 a month on COBRA, and went to $318 a month when I started this book. I made changes as I learned more and my monthly payment went to $296 a month, with a better plan! |
Reading about health insurance is not at the top of my list of fun things to do, and reading the source materials on the topic has helped me to fall asleep on many occasions. In this book I’ll try to keep it light and interesting, hitting the important points. The appendices and the website www.BestHealthInsuranceBook.com list additional resources for those who wish to go deeper.
“Health insurance is very personal: you’re dealing with emotions, not just cost.”
-Beth B. Parrott, Owner, Parrott Insurance and Benefits |
I did not set out to write a book about health insurance. I was working on a different book which included a chapter about how to get your own health insurance. Once I dug in and started my research, I found that there was much more material than could fit in one chapter. While some of the material can be found elsewhere, there is some very unique information that can only be found here: which includes a technique to compare all health plans “apples to apples,” how to avoid being ripped-off, and a simple yet comprehensive way to view all of the health plan information. |
In the past, I have used health insurance provided by an employer. When leaving employment or working somewhere with no benefits, I’ve used the continuation benefits from a job that I or my wife was working at when one of us left. I have purchased individual insurance from private insurers without really knowing what options I had or how well the plan I bought would work for me. I’ve also been ripped-off: in subtle ways and in some very big ways, and I hope that you can avoid some of the traps that have gotten me.
In this guide, you will learn how to get the best deal on health insurance – for you. Not a good deal for someone else, but a technique that will provide you with a comparison of how well each of your available health insurance options meets your needs, and how much your total health expenditures can be – whether in a good year, or a year where there are one or more health emergencies in your household.
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