If you're in the market for new medical coverage, either through a choice of new plans at work or as an individual, ask yourself these very important questions. The answer will depend on whether you have children, are frequently ill yourself, require many prescription drugs or have a preexisting condition. Make a list of the benefits you are most likely to need, then be sure the policy you are considering provides these coverages. If you want coverage for yearly health exams, mammograms, immunizations or well-baby care, you may want to consider an HMO or PPO or POS plan.
Many traditional plans involve some paperwork.
If you don't want to fill out claim forms or think you will forget, you may be better off with a managed care plan. The amount of coverage you purchase may be limited by how much you can afford to spend. If it is, the insurance company cannot cancel your policy as long as you keep paying premiums. Be sure the insurer is financially stable. A.M. Best and Weiss publish the financial ratings of insurance companies.