Before you change health insurance policies, here are some things to consider:
Know what the plan requires before you stop coverage.
- Is stopping coverage limited by your employer's open-enrollment period?
- Is coverage through the end of the month or can the insurance company prorate it?
- Does the insurance company require advance notice to stop coverage?
- Compare premiums, coverage levels, exclusions and annual deductibles.
- Make sure your medical providers accept the plan you want to buy.
- Verify your new coverage is in effect, before you end your current coverage.