Many people find their health insurance through an employer, government insurance exchanges or marketplaces. Even so, the healthcare landscape can initially be an overwhelming world. Regardless of which option you receive yours from (or are thinking of), there are a few things I’d like to share with you when it comes to picking the right plan for you (or your family).
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1. State Plans
Do you know your state’s health insurance plans? Do you know how those states are improving health care? Knowing the difference between state and federal health care packages is the difference between being “taken for a ride” and getting the best bang for your buck. For example, the top 5 states with the highest-rated health plans in the U.S. are:
- Massachusetts
- Rhode Island
- Maine
If you live in those states and feel your health plan isn’t up to your standard, compare your plan to other plans available in your state.
2. What Are You Getting?
Do you have a general idea of what your health care plan provides? Do you know everything that your plan covers and offers? WebMD also made a helpful quiz called “Do You Know Your Health Insurance Basics?” Choosing health insurance plans can be confusing and can determine the cost out-of-pocket expenses and which types of doctors you can see. The most common plans are:
- Health Maintenance Organisation (HMO)
- Preferred Provider Organisation (PPO)
- Exclusive Provider Organisation (EPO)
- Point-Of-Service Plan (POS)
- High-Deductible Plan
- Health-Savings Account
So, it’s perfectly reasonable to be a little confused. Additionally, each plan has a certain level of benefits (bronze, silver, gold, and platinum), as well. The main difference between these plans and benefits lies in how much they pay medical costs for enrolled clients.
For example: on average, platinum plans cover 90% of your medical costs while you pay 10%. Compare that to bronze plans, which cover 60% on average of costs, while you pay 40%. Review your coverage plan’s benefits thoroughly front-to-back to make sure you truly are getting what you pay for. After you have narrowed down the list of possible providers and possible plans, it’s advisable you call the customer service line of the insurers you’re leaning toward. Some extra questions you might want to ask are:
- How is my medication covered under this plan?
- I have a disease – which drugs are covered under this plan?
- Am I covered if I get sick while traveling abroad?
3. Walk-In Clinics
These types of facilities are a lot cheaper than hospitals and traditional doctors’ offices. In most cases, they even suit needs of many more efficiently than health care packages. Ask yourself this: can you afford hospital bills to have your head cold examined or to refill a certain prescription? Walgreens and CVS are two drugstores that already have on-site walk-in clinics that may prove more time and cost-efficient. While we’re not suggesting that clinics are replacements for health insurance, it’s highly advisable to consider before investing in your chosen package.
Insurance Plan – Conclusion
Even with a healthcare plan in place, it’s worth saving money at your doctor’s office. One way to do that is by asking “How much will this cost?” The staff should be able to tell you what your out-of-pocket expenses will be and whether your insurance plan will cover the cost. I’m sure you are seeing the trend of researching your insurance plans as thoroughly as possible, so you know exactly what you are getting. Only then will you be able to determine whether or not that chosen plan is truly right for you.
If you are interested in even more lifestyle-related articles and information from us here at Bit Rebels then we have a lot to choose from.
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