Getting a health insurance can be very tricky, especially if this is your first time. Health is one of the most important things in our lives that we have to protect which is why getting a health insurance is a must. Let this guide help you from the first to the last step in choosing the best plan for you and your family, whether it is through the federal marketplace, or from an employer.
Why Choose The Marketplace?
Many of us get our medical coverage through our employers. In case you’re one of them, you won’t have to utilize the government insurance exchanges or the marketplace. If your boss offers medical coverage and you still wish to look for an alternative plan, you can! In California, there are plenty of insurance agents who can help you find the best insurance plans. Insurance plans in the marketplace are probably going to cost much more. Most employers who provide health insurance to their employees pay a part of their worker’s premiums, so they’ll likely offer the least expensive alternative.
Compare Your Choices
When you are looking for insurance plans, choosing one among the multitude of choice can be daunting. The most common types are the HMOs, PPOs, POS, or the EPOs plans. Your choice will help determine the amount that you have to pay on your own. While you are comparing the plans, take a look at the summary of benefits that they offer. With the help of the internet, online marketplaces now offer a link to the summary of benefits that you can get from the plan.
The Health Plan Networks
Remember that costs are lower especially if you to an in-network doctor because the insurance companies contract lower rates than with the in-network providers. If you decide to go out of network, these doctors do not have the contracted rates which will probably cost you and your insurance company more. If say you have a family doctor and you choose to keep seeing them for your medical needs, always make sure that they are included in the provider directories for the plan that you are looking to get. Better yet, ask your doctors if they are in that particular plan.
Compare The Costs and Benefits
The plan’s summary of benefits should be clear about the amount you’ll need to pay out of pocket for the services that they provide. Many insurance providers website offers previews of these costs for their clients to compare. This is also being done in many state marketplaces so it is important that you have a bit of understanding about the health insurance vocabulary words. As the consumer, your portion of costs will include deductibles, coinsurance, and copayments. The total amount that you will need to spend personally is a year is limited and the maximum will also be stated in your plan information. Remember, the lower your premium, the higher your out of pocket costs.
Before you decide, make sure that you already have a narrowed options to choose from. To choose one, go back to the summary of benefits and see which plans would cover a wider scope of services that you might need. You would realize that some would have better coverage than the others. If you skip this step, you might miss out on a plan that could have been a better choice for you.