We often forget or neglect to spare some money for emergency situations. Thankfully health policies exist. Through health insurance, insurers compensate for the insured against the risk or peril that occurred to the latter. Since we value your health and well-being, here is your guide to health insurance.
1. Know when the enrollment starts and ends
Having knowledge of the starting and ending of the periods will prevent delays or late enrollments, it would be a big disappointment if you have plans to apply but because you do not know when to do so, you were able to miss it.
The Annual open enrollment covering 2015 and beyond starts on the 15th of November up to the 15th of February. The special enrollment period, on the other hand, allows the applicant to make alterations in his or her policy even if it is not an open enrollment period. The ability to change is caused by qualifying circumstances. The negligence not to make changes during the special enrollment period will let you wait for the preceding open enrollment period to make such amendments.
2. Get what you need
Gather all the information needed such as current health coverage, social security number and your employer’s and income information. These things will help the insurer estimate the value of the risk you will be insured against, thus knowing how much premium you would have. The premium is the money that the insured should pay to the insurance company for the policy of the insurance to be enforceable and for the latter to indemnify the former for the peril insured against. Hence, before applying, make sure to have enough money to pay for your premium.
3. Choose the most convenient way to apply
Applicants can choose from mail, phone, personal or online to apply. Nowadays, many find it more convenient to do it online. Just a warning though, be careful with the company you will choose because there are a lot of fraudulent or illegal schemes online. You must first make a research about your target company.
4. Create your Account
When you make your account, you have to stay secured and safe. How? Choose a unique and secured username and password, and also, verify your identity for the website to better guard your information.
5. Get your application
You can choose from two applications- families or as single adults.
6. Fill in your application form
Fill in your application with the correct information to avoid any concealment and misrepresentation. If the insurer finds out that you have submitted inaccurate information, its liability will be cleared or the contract will be withdrawn.
7. Check again
There is no harm in checking all the things you have submitted. Double checking is a great presumption that you are in good faith. Remember that insurance contracts root from utmost good faith from both parties.
8. Submit your application
If you are now satisfied with everything you have submitted on your application, then be confident to give your application.
9. Review your available plans
Choose the plan that would benefit you, remind yourself that you are getting a health insurance for an advantage and not as a burden.
10. Complete everything
After you have followed your guide to health insurance and paid your premium, everything is now set and ready.
So, if someone asks “Are you insured?” Your answer should be an absolute YES!
Feature Image: Thinkstock/HYWARDS
