Look not only at what it will cost to purchase the policy, but also what it will cost you out of pocket should you need to obtain care during the year. In an effort to assist students faced with making a choice between health care insurance policies, the following is an outline of some important factors to consider when reviewing these policies. The final decision is yours to make. Experience of the Insurance Company Ask your friends and acquaintances if they have used this insurance company. A deductible is the initial portion of a covered expense that must be paid by the insured person before the insurance policy pays for its part of the expense.
Some insurance companies have an annual deductible, payable once a year.
Others use a per visit deductible, for each illness or injury. Since no one can fortell the future, a best guess of what your health care needs will be for the coming year will help in estimating what your costs would be under each type of arrangement. This refers to the portion of the covered expense, after the deductible is paid, which must be paid by the insured person. Some policies give specific dollar limits on what they will pay for particular services. Make sure that the services you might need have limits that are acceptable to you.