The last two years have seen a lot of changes for those inthe workforce, one change of which is their health insurance coverage. If you are one of the unfortunate ones that do not currently have coverage through either your current employer or a member of your family, you may find yourself needing to find a plan.
If find that you are needing to look for health insurance for yourself for the first time, the information available is extensive but can also be very confusing at the same time. Many first-time purchasers of health insurance feel like they areswimming in a sea of information with no end in sight.
Offered below are a few tips that will make your search not so daunting, and hopefully, you will learn what you need to make the right insurance choice.
Choose What Is Right For You
The first, and most essential step, is that you make sure that the plan you choose will be appropriate and fit your personal needs. Shop around and see what is available—take your time and investigate—don't jump on the first plan you find.
Choose several plans that look like they may work for your particular needs, and compare them against one another. Look at areas such as how in-network and out-of-network are handled and make sure if primary care physicians are required or even referrals.
If you find you are having a hard time finding a plan that will fit comfortably into your budget, check out the ACA (Affordable Care Act), otherwise known as Obamacare, to see if you are eligible for help in paying for your health insurance.
Plans under the ACA provide comprehensive coverage and are required to accept new enrollees regardless of any pre-existing conditions. You are also guaranteed to receive essential health benefits, including prescription drugs, maternity, and mental health benefits.
Pay Attention To Cost
Each plan's cost will be determined by the premium amount and out-of-pocket maximum that you have chosen. When shopping around for your plan, keep in mind any potential costs upfront. With the plans within the ACA, strict limits are placed on what you will be responsible for out of pocket.
Also, under the ACA plans, your premium will depend principally on your annual income. If your income falls within the guidelines laid down, you may qualify for an offer of a federal subsidy that will aid in the payment of your monthly insurance premium.
Access To Your Essentials
When beginning your search, you should set down and identify and make a list of the types of doctors you need, your monthly prescriptions, and local medical facilities. When comparing each plan, make sure that each of these needs are sufficiently met by any new plan you are considering. If they are not, move onto the next plan until you find what you need and feel comfortable with.
Health companies are competitive, and as such, they will often offer a variety of perks to gain your business. Make sure that you research each plan for any perks that may be offered and if these perks are beneficial to you. Many plans provide perks such as rewards for fitness along with telemedicine services.
Any extra benefits offered by the plan may seem small but can make a significant difference in the overall scheme. Look at it all this way, if you are paying for the coverage, you need to receive everything offered and that you deserve as a client.
Know The Terminology
Knowing some of the terminologies will make the process a little less daunting now that you know how to approach researching and obtaining health insurance.
- Premium – this is the amount due each month for the insurance.
- Deductible – the amount you will be required to pay over the year before your insurance company kicks in and pays their part.
- Copayment – also referred to as a"copay"- is the amount you will be responsible for paying on services and prescriptions even if your yearly deductible is met.
- Coinsurance – different from a copay, coinsurance is the fee, usually a percentage, that you will need to cover a service.
- Out-of-pocket maximum – this is the maximum amount you will be required to pay for any covered services in a single calendar year.
- Subsidy – this is the amount offered by thegovernment to aid in paying health insurance.
If you find you are looking for health insurance and are not sure where to start, we are here and will work to take the stress out of buying and obtaining health insurance.