How to Pick the Right Health Insurance
Picking the right health insurance plan is extremely important because it provides protection from the high cost of medical care. Without insurance coverage, one serious illness or injury could destroy you financially. Whether you are purchasing your own insurance, or selecting from company health plan options, you need to know what plans are available to determine what will best suit your needs and the needs of your family.
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Things You'll Need
- Health insurance plans to compare
- List of participating providers
- List of copays and fees
Instructions
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Determine and research your available options. Most health insurance plans are managed care plans such as HMOs (health maintenance organizations), PPOs (preferred provider options), or Point-of-Service plans. Put very basically, these plans allow you to receive medical treatment through a participating network of doctors and medical providers.
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See if your doctor participates in the health insurance plan. If your family has been going to a particular doctor for years, you want to be sure he or she is a participating provider in the plan you pick. If your doctor does not participate in a particular HMO or PPO, consider switching doctors or choosing another health insurance option.
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Determine out-of-pocket costs. Check the co-pays for doctor visits, specialist visits, prescription drugs and emergency room visits for the insurance plans you are considering. Also be sure to read through the plan and see what your deductibles will be per individual or per family. Deductibles are a cost that you will be responsible to pay.
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Compare monthly premiums. See how much the plan will cost you per month, and what coverage you will get for that amount. If the health insurance is through an employer, the premium will be taken out of your paycheck.
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Read the fine print. Make sure the coverage is adequate for you and your family. Check for extra fees. See what is included and not included in the health insurance coverage. For example, some medical insurance options include extras like chiropractic care. Some insurance options cover more of the costs of medical equipment than other plans. Compare the plans to see exactly what coverage you are getting.
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Tips & Warnings
Some plans limit treatment of pre-existing conditions or chronic medical problems, so be sure to check this before picking a health insurance plan.
Talk to others who have the health plan you are considering, and get their opinions of the plan.
References
Resources
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