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American Medicine

Choosing the right health insurance has always been confusing. But this perplexing dilemma has become more difficult for 2014 because Obamacare is being implemented. So which insurance is best for you?

I have reviewed the various types of policies in my book “Surviving American Medicine”. But now let me give you my best advice on which policy you should choose.

• If you are eligible for Medicare and can afford it, choose the Medicare option with a supplemental Medigap policy to pay for the extra 20% of costs that Medicare does not cover. If you cannot afford the supplemental policy, consider a Medicare Advantage plan, but remember this is an HMO and it reduces your choice of doctor and requires preauthorization for expensive tests and treatments.
• If you have very limited income but are not eligible for Medicare, see if you are eligible for Medicaid and elect that insurance.
• If your employer offers insurance plans, try to choose a PPO if you can afford it. You will have more choice of doctors and hospitals. If you cannot afford a PPO, consider an HMO or EPO.
• If you are shopping on a health exchange, evaluate costs of plans, deductible, and your medical conditions. If you are healthy and anticipate few expenses, consider a high deductible plan with low cost. But if you have any condition or illnesses for which you can anticipate higher medical costs, get the lower deductible plan even though monthly costs may be higher. PPOs give you more choice of doctors and second opinions, but HMOs are cheaper although they are more restrictive. I personally would always choose a PPO so I can always have more control over my care.
  

  Get good advice and choose the right insurance

Are you confused? Seeking personal advice from an insurance broker can help you sort out your options. Human resource personnel at work can give good advice, but sometimes they are influenced by the employer to promote the cheapest policy to the employer, rather than recommending the best policy for you. To get more advice and find websites for health insurance brokers, check the section on insurance in “Surviving American Medicine” and your choices will be clearer.

But never ever go without health insurance. Medical care is too expensive to delay insuring yourself against huge bills that could cause bankruptcy.