It’s open enrollment time again. Do you want a PPO or HMO? High deductible or low? Is your doctor in network? How much will your prescriptions cost?
Health insurance can be a complicated and confusing topic for many people. With so many different plans, carriers, and options to choose from, it can be overwhelming to try to find the right coverage for your needs. However, by focusing on and comparing key factors such as premiums, deductibles, co-payments and co-insurance, the network of providers, coverage for specific services, and customer service, the process of choosing a health insurance plan can become much easier. By considering the factors simplified in the chart below, you can make an informed decision that helps ensure you have the coverage you need at a price you can afford.
And of course, Insureous agent can make the choice much, much easier. Just give us a call or set up a meeting.
| Factor | Description |
|---|---|
| Premiums | The amount you pay for your health insurance coverage. Higher premiums may mean better coverage, but they also mean higher monthly or annual costs. |
| Deductibles | The amount you must pay out-of-pocket before your insurance coverage begins. Higher deductibles may result in lower premiums, but they also mean you’ll have to pay more out-of-pocket before your insurance coverage kicks in. |
| Co-payments and co-insurance | Co-payments are fixed fees you pay for certain medical services, such as doctor’s visits or prescription drugs. Co-insurance is a percentage of the cost of a medical service that you must pay, while the insurance company pays the remainder. It’s important to consider these out-of-pocket costs when comparing plans. |
| Network of providers | The doctors, hospitals, and other healthcare providers that are covered under the plan. Make sure the plan you choose includes the providers you need and want. |
| Coverage for specific services | Different insurance plans offer varying levels of coverage for different medical services. Consider your healthcare needs and make sure the plan you choose covers the services you need. |
| Out-of-pocket maximum | The maximum amount you’ll have to pay out-of-pocket for healthcare expenses in a given year. Once you reach the out-of-pocket maximum, your insurance will cover all remaining costs for the rest of the year. |
| Customer service | The quality of customer service offered by the insurance company. Can you easily get in touch with someone if you have questions or need assistance? |
| Prescription Drugs | It’s always a good idea to make sure the drugs you take are covered and at what cost? Although the drug formularies of most carriers are very similar, the costs can vary widely. |
| Your agent | A good agent is your advisor and advocate. Insureous Health Solutions’ agents help you pick the best plan for your medical situation. We make sure your preferred doctors are in network and that the drugs you take are in the formulary, all at no charge. Contact us at 904-295-8498. |
