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Health Insurance Price Comparison in California 

The Biggest Players

The largest providers of health insurance in California appear to comprise of Blue Cross, Blue Shield, Aetna California health insurance plans, and PacifiCare, but a host of other insurers also offer great choice to the individual seeking health cover and a health insurance price comparison in California.

The internet reduces the cost of searching for insurance dramatically by enabling direct price comparison on line, and the Health Insurance Store is one of many avenues for price comparison and can be located online at www. healthinsurancestore.com.

Indeed the internet has force transparency of price into the health insurance industry as numerous corporations vie for the consumer's attention. A variety of tax incentives exist for individuals obtaining their own health insurance, including tax free incentives for those who contribute to a Health Savings Account, in order to fund their own health care.

These savings accounts can be used in conjunction with other health insurance policies,and if properly factored into a cost calculation, may well represent exceptional savings to the consumer.

If a person is predisposed to needing regular health care, a plan with a higher deductible may not necessarily be appropriate, as the insurance policy will only fund treatment after this amount is paid by the patient. In this instance it may be more prudent to choose a plan that has a low deductible but that charges a heavier premium.

To illustrate the sensitivity of such comparisons, in 1995 the University of California changed its policy in limiting its contribution to an individual's health insurance, to the cost of the least expensive plan available. This resulted in greater out of pocket expenses for the insureds, and those that were faced with premium increases of $10 were 5 times as likely to change plans as those whose premiums were unchanged.

When comparing prices the most selective members in the community are younger and healthier employees, who are in fact extremely prone to remain uninsured . Older people, particularly those that have already been in receipt of health care, are far more likely to remain elastic to price increases in health insurance premiums.

Finding Your Way

The health system remains a veritable minefield for the individual seeking insurance, particularly due to the fact that the tax system interacts with the health insurance industry in such as way as to cause consumers to demonstrate a warped method of choice for insurance and often to over insure themselves in a distorted product.

The use of an insurance agent may also be helpful in navigating winding road of health insurance, and in California in particular, insurances agents account for 90% of the referrals to insurance companies. Often the commission paid to the agent is still charged to the consumer who doesn't use an agent, so the benefits of an industry professional may well be a sensible use of resources.

If an individual or their family is deprived of group health insurance through an employment based scheme, should they be in reasonable health, they may indeed benefit by this exclusion. While insurance companies often pass on administrative savings when insuring a group, the criteria considered when determining the group's premium is essentially that of the health probabilities of the entire group.

The fact that modern society tends to be becoming unhealthier at the behest of numerous national campaigns encouraging good health for Americans, may mean that an individual family that is healthier than the norm may well be able to insure themselves at a cheaper rate than the average as calculated from the features of large group.

 

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