Every company shares an insight about various policies during a HR presentation to new joiners’, as well as health insurance options. Whether you are going for the group coverage for the first time or have made changes during enrollment periods, there’s usually not a lot of time dedicated to reviewing group health insurance, but everyone should make time for reviewing their policies. After enrollment periods end, it’s usually very hard to make changes to group plans. It can become even more difficult if something happens and lower deductibles or higher coverage amounts are suddenly needed – in such scenarios, policyholders may have to petition insurance companies.

It can be hard to understand the ins and outs of health insurance. What do you look for? When do you make changes? Should you? What factors are most important? Which factors carry more weight? Whether a first time buyer or ‘repeat customer,’ stick to an evaluation plan as regimented as an annual employee review process and use a few steps to guide you to the parts of group health insurance plans you should focus on:

2. Price Isn’t the Right Choice

When picking group insurance plans, it’s natural to choose plans with the cheapest price tags. That’s one of the cardinal sins of insurance though, and usually means you don’t have very much — or even good, comprehensive — coverage. Look at how much a plan costs last, and look at coverage options first.

Why is this listed at the start of the blog then? Because it’s likely to be the first thing you look at in plans and it needs to come in closer to the last. That allows you to determine and evaluate what’s most important to you and will basically show you exactly what’s most important to you aside from price. In doing so, you’ll know you’ve made your choice upon what truly matters to you rather than buying the first cheap policy you see. If the price isn’t right once revealed, you’ll at least know what factors you truly desire.

1. Find out The Coverage Limits

Healthcare costs are continuing to skyrocket, and unfortunately it doesn’t seem that will change anytime soon. Such broad increased healthcare costs makes having appropriate coverage limits essential, and you want policy limits high enough so you’re not likely to be left picking up the rest of the tab, even for catastrophic events. When evaluating group insurance options, review two options that each come with two types of coverage limits: Dollar maximum per claim and dollar maximum per lifetime.