It's a tough economy nowadays and you want to be careful not waste money on trivial costs...sometimes this includes health insurance. Here is what you really need health insurance for:

1. WHAT YOU REALLY NEED

-The Catastrophic Event

First and foremost, everyone absolutely needs to be covered for the big hit. With ever - escalating costs associated with medical care, especially critical care, you would be negligent not to evaluate the following two criteria while assessing your personal needs

-Policy Maximums

All true insurance plans have policy maximums. The plan maximum refers to the most an insurance plan will pay in total, no matter what the circumstances are. Some plans have individual lifetime maximums, some have family lifetime maximums and some have annual maximums for either the family or per individual.

-Maximum Out-Of-Pocket/Stop Loss

The "Max Out-Of-Pocket" refers to the most that you will pay in deductibles and coinsurance in any given year, no matter how large your medical bills are (up to plan maximums, of course). Your plan should have the "Max Out-Of-Pocket" and "Coinsurance Stop Loss" stated clearly and understandably in writing. With their Plan Design your "Max Out-Of-Pocket" and "Coinsurance Stop Loss" will not only be clearly stated, you will have a say in what the amount of it is.

2. WHAT POINT ARE YOU AT IN YOUR LIFE?

Every individual and family has different needs. Some have a house full of children, others don't. Some people travel quite a bit, others stay close to home. There are an infinite number of situations and you need to evaluate yours if you are to make a decision that is proper for you. You should also consider your lifestyle while shopping for health plans.

Please also consider your personal medical history as well as that of your family, including any hereditary issues. Please ask yourself the following questions:

-What am I hoping to achieve with my health plan?

-How do I plan to use my coverage?

-How long do I need this plan?

-How much of my medical expenses am I willing to cover myself?

-Are there conditions in my family history that I NEED to be covered for?

These are but a few of the areas that will be discussed during your plan design.

3. WHERE DO YOU SPEND YOUR TIME?

If you are like most of us the answer is at work. We do design plans that cover you on the job. But the question goes deeper than that.

-Do you travel?

-Do you spend periods of the year is another part of the country?

-Are you spending time in outdoor activities or sports?

-Again, these are just some of the things that you should be considering and areas that will be discussed during your plan design.

4. WHAT CAN YOU AFFORD?

Well, this question had to be asked sometime! Designing a plan that you can't afford will not do anyone any good. On the other hand, hiding behind the fear of a large monthly payment is not the answer either.