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What You Should Look For Before You Renew Your Health Insurance

There are many changes coming up these days and most of them have been enacted by the government which essentially means that you have no choice. Many choices have been taken from your hands and, therefore, you will probably notice that the cost of your health care plan is much more than it was in previous years. And if you do not notice a significant change in your premium, it is very important to ensure that you look at your health care plan more carefully because the chances are that your benefits have been reduced in some areas to offset the increased cost of the policy.

When you receive your registration package for the coming year, make sure you look first at your deductible and the amount of your co-payment. Watch for a higher deductible, higher co pay or a change of co-payment to co-insurance. A change of co-payment to co-insurance may seem like it’s going to cost you the same amount, but when you pay co-insurance, it is based and the percentage that you can really wind up paying is much more when all is said and done.

Another place to look at your policy for potential changes is in the field of exclusions and exceptions. These are usually contained in the written portion of your policy may end up costing you a fortune. Make sure you have read and reread your whole policy and maybe ask someone else to read it, to alert you to issues of concern. It can also be a good idea to take out the policy from last year, just so you can compare the wording of the two to help you locate the differences.

The good news is that some of the changes will actually be for the better and these include the ability to add children up to age 26 and the elimination of the lifetime maximum benefit on all insurance policies. And while they may not be able to get you with pre-existing health issues you may want to be careful because a lot of companies are eliminating child only policies because of the concern that these policies will attract the parents of ill children.

Overall insurance policies across the board are changing and this means that someone will be paying the price for these changes. Whether you are paying for them through increased premiums or a reduction in benefits, there is truly no free lunch. You will find that one way or another these government proposed changes will be coming out of your pocket so read carefully and know what you are getting yourself into.

To shop for the best health insurance check out gohealthinsurance.com. You can obtain health insurance quotes from various providers and find a plan that is suitable to your health needs.

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