Mandated Virginia Health Insurance Benefits, Choosing a Health Insurance Plan

Virginia's insurance laws require that many health insurance plans, including Managed Care Health Insurance Plans: 1) provide certain benefits, known as mandated benefits, in each and every individual or group contract they offer in Virginia; and 2) offer and make available to you, as an individual policyholder, or your group policyholder, if you have group coverage, the option to purchase certain benefits known as mandated offers of coverage. Mandates apply only to Virginia-issued contracts or policies.

Choosing a Health Care Plan

Consider the following features when comparing health care options. While this list of features is not an all-inclusive list, it is intended to provide you with general guidance and important references.

Find out about the company. The Bureau of Insurance can tell you whether a company is licensed and in good standing to do business in Virginia. However, the Bureau does not rate or recommend particular insurance companies or managed care health insurance plans.

When selecting an insurance company, it is wise to check on a company's rating. Several organizations publish insurance company ratings. The ratings, including those listed below, may be available in your local library or on the internet. Companies are rated on a number of elements, such as financial data (including assets and liabilities), management operations, and the company's history. You may also wish to review a company's stock analysis reports.