Some important terms to understand when shopping for
health insurance policies:
Co-insurance - Beyond the
deductible, what percentage of the expense must you pay, such as 10% or 20%?
IMPORTANT: Is there a "Stop-Loss" provision
which eliminates all co-insurance and pays 100% of the charges after you reach $1,000 or
so in out-of-pocket expense?
Benefit maximums -
limit should be "unlimited" or extremely high; e.g. $2,000,000, due to potential
costs of major surgery, hospitalization, a series of family illnesses, etc.
"Inside limits" -
limits like "$200 for x-rays," etc., should be avoided in favor of
"comprehensive coverage", i.e., a flat percentage of the cost incurred.