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What questions should I ask when looking for a new policy?
You should ask question in the following areas:
POLICY BENEFITS AND PREMIUMS
- What is the policy maximum benefit?
- What deductible options are available?
- What co-payment percentages are available?
- What are the maximum out-of-pocket expenses?
- Can I make changes to the deducible / co-payments later on?
COST CONTAINMENT
- Does the insurance company use a pre-certification method for hospitalizations?
- Does the company participate in any kind of PPO network?
- How can I take advantage of the network if I haven't met my deductible?
- Does the company require a referral from a PCP (Primary Care Physician)?
- What are the consequences if I go outside the Network
- Am I covered outside the country?
SERVICE
- How service oriented is the company?
- How long has the company been in business
- How quickly are claims handled when they reach the company?
- What percentage of the company's invested assets are investment grade securities?
- What is the company's rating?
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