1. Is this major medical? Often plan look and sound like a major medical plan but they might be only a hospitalization plan or an accident plan.
2. What company is it? - look up the company, call them to see if and how they answer their phone. One of my clients tried to save some money by buying a plan from someone over the phone, I ask her what type of plan it was, and what company, she could not remember. I asked her to call the company and have them explain what she had purchased. The company did not answer with a specific name. The end of the story is the plan was only a discount medical plan, not at all what she thought she was buying. And, if would not cover you if you had any type of insurance plan.
3. What is the deductible? This is a simple question but is often overlooked.
4. Does it cover Dr. office visits? If so, how many a year? How much? What about lab work?
5. What is the co-insurance? The amount that you split with the insurance company. This use to be 80/20 that is to say, after the deductible you pay 20% and the insurance company pays 80% up to the max out of pocket. Some plans are 70/30, 50/50, and 100/0. ask the question.
6. Are prescription drugs covered? is there a deductible that needs to be met first?
Sometimes not asking the right question can cost you money when you need it
the most. ASK QUESTION and a lot of them. No professional will get frustrated
they will take the time to explain the information to you. If they avoid the
questions or dance around then find another agent!
Brent Trice