Florida health insurance costs can be a real problem for many people who live in Florida and are looking for a complete and affordable health insurance plan.
Florida health insurance costs can be a real problem for many people who live in Florida and are looking for a complete and affordable health insurance plan. At first glance, the costs of health insurance premiums in Florida can seem high. But when you think that even simple surgeries and a week or more in a Florida hospital could cost more than $100,000, you can't understate how important it is to find a Florida health insurance policy that is both complete and affordable.
The market for health insurance in Florida is very competitive. This is both very good and very bad for people shopping for health insurance in Florida. The Florida health insurance market is competitive, which is good for Florida consumers because it forces the top companies to lower their rates to keep their health insurance plans affordable as they compete for your business. One bad thing about how competitive the Florida health insurance market is is that many insurance companies are drawn to the high demand for health insurance in Florida, but not all of them have the same good reputation as Aetna, Humana, or United Healthcare.
Without naming names, the high demand for Florida health insurance will bring in health insurance companies that have to limit their policies by the calendar year or only cover benefits up to a certain amount (indemnity-style policies) in order to compete with bigger, better-known companies.
To give you an idea of how serious this is, let's say you hurt your knee while working out and have to have arthroscopic knee surgery. After a week and a half in the hospital, the bill comes to $100,000.
With a strong, reputable Florida health insurance company that has an established, reliable network, like one of the "Big 3" (Aetna, Humana, and United Healthcare), you will have coverage of between $3,000,000 and $5,000,000 per person, with no limits on the number of benefits you can get for certain procedures or the number of calendar years you can get them. Your out-of-pocket cost for that $100,000 hospital bill is likely to be between $3,000 and $5,000, depending on your policy's deductible and coinsurance amount.
Now, let's say you decided years ago to go with a Florida health insurance company you had never heard of before and buy a policy that seemed like a good deal, like an indemnity policy or a policy with a calendar year limit. If the policy's limit is, say, $10,000 for that procedure or maybe only $200 a day for every day in the hospital, guess what? Once you reach that limit, the rest of the bill is yours to pay. When you reach the limits of your policy, it's as if you don't even have insurance.
Without the help of an experienced independent insurance agent, it can be hard to figure out the different Florida health insurance plans. Compare Florida health insurance quotes from the best companies by putting them next to each other. This will help you make sure that your Florida health insurance is both cheap and complete.
