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5 Questions You Should Ask About Healthcare Plans
With so many options available for healthcare plans, it’s difficult to know where to start. Finding an affordable plan that works for you shouldn’t be overwhelming. If you do not have healthcare coverage through your employer, you can choose an individual or family plan through the individual market.
What the ACA Means For You: 5 Key Questions
Healthcare plans have a few key features that you may want to keep in mind when making your decision. Before choosing a plan, ask yourself these questions:
- Who needs to be covered? Is the policy just for you, or do you have family members (eligible dependents) who need coverage? What are their healthcare needs?
- Are your preferred hospital and physicians in the insurance plan’s network? You will probably want a plan that includes the physicians and hospital you prefer. Using out-of-network hospitals or doctors typically means you pay a higher fee for services.
- What are the out-of-pocket costs? Each plan has different costs for monthly premiums, copays, coinsurance, and deductibles. Think about how often you usually see your doctors, and take these costs into account.
- Do you want a Health Maintenance Organization (HMO) or a Preferred Provider Organization (PPO)? HMOs often have lower copays, but you may not have as much flexibility when choosing specialists or other providers. A PPO will usually give you more freedom to choose physicians and hospitals, but your costs will likely be higher.
- Do you want a Health Savings Account (HSA)? A Health Savings Account is a tax-advantaged medical savings account. An HSA is usually an option if you choose a plan with a high deductible.
With so many factors to consider, it can be helpful to consult a licensed health insurance representative to help prioritize your needs and find an insurance plan that works with you and your budget.
Licensed representatives with HealthMarkets can help you make a confident, worry-free decision about your healthcare. We have a portfolio of products from over 180 recognized and trusted insurance companies nationwide to help you find a policy that fits your unique health needs. Call us 24/7 at (800) 360-1402 or find a licensed agent near you.