Confused about what you should look for in a Health insurance plan? You’re not alone. All health insurance plans are not created equal. Each plan costs a certain amount and covers various services for you and your family.
When you choose an insurance plan, think about your family’s medical needs for the upcoming year. With that in mind, shop plans to find the right for you.
How Much Does the Plan Cost?
When comparing health insurance plans, consider these things:
- Premium. The dollar amount you will pay for insurance monthly.
- Co-Pay. The amount of money you pay for each health care service, like a visit to a health care provider.
- Deductible. The cost spent before the plan starts paying for your health care. If you have a $700 deductible, you have to spend $700 out of pocket before your plan will pay. Your deductible does not include your premium.
Which Providers do Insurance Plans Cover?
Every health plan has a network of providers, which includes doctors and hospitals. Here’s are some things look for in a plan with regards to providers:
- Preferred providers. Providers who have a contract with a health plan to provide medical services to you at a lower price. In some instances, seeing a preferred provider is the least costly way to get health care.
- Participating providers. This is a group of preferred providers, but they can be more expensive to go to as compared to preferred providers.
- Tiered network. This type of plan includes various costs for different providers. You might have to pay more to visit some providers than others.
If you already have a doctor you would like to keep seeing; you can research which plans include your doctor. You can still visit that provider even if your policy does not cover the visit, but you may have to pay more or all of the cost to see your doctor.
What Services do Insurance Plans Cover?
If you or someone on your plan has a particular health need such as Alzheimer’s care or pregnancy care, you will want to make sure the plan you chose covers the services for these needs.
- Regular health checkups. Checkups are essential, especially in the instance of an issue such as pregnancy or something like kidney or heart failure; checkups will dictate what care you receive.
- Specialized Care. This care is the type of medical care you get for your specific health need if you have one.
- Well-baby and well-child care. If you have a child, these are checkups it will get when an illness is not involved. This kind of service is covered for both babies and children.
Regardless if you’re starting a family or facing end of life issues, think about the needs you or your family might have. When deciding on an insurance plan, be sure that the type of care your unique issue needs is covered.
Does health insurance cover prescriptions?
By law, every health insurance plan must cover prescriptions, but that does not mean all plans are covered the same. In a nutshell, a prescription is an order for a type of medicine dictated by your doctor. Check to see if any prospective health insurance plan covers the prescriptions you are currently taking before deciding on which one you want.