Health Insurance
Health insurance is an important piece of your financial and personal wellness puzzle.
Each of us, each individual, and each family need to choose their Health Insurance solution based on their personal situation.
The best plan for you and your family might be a combination of plans. Practically speaking, just about all insurance plans have gaps built in. Maybe you can see your doctor without satisfying a plan deductible, but the deductible applies to emergency room visits or there is a deductible associated to prescription drug coverage or the plan covers 70% of cost of care and you are responsible for 30%. You get the idea.
Often you can fill a portion of policy gaps with a low-cost supplemental insurance policy like an accident, critical illness, or cancer policy. The supplemental plans provide additional protection in specific situations. You can use the cash as YOU see fit. Maybe use the cash to fill gaps in your primary health insurance plan or to help with living expenses.
This right combination of health insurance and supplemental insurance often helps by providing a lower net insurance cost with stronger protection.
When choosing a Health PLAN, here are major items to consider:
Is there a very specific doctor or specialist you absolutely want to receive care from or are you flexible? How flexible?- What hospital would you want to receive care at should you need care? Is it in Network?
- Do you take maintenance prescription drugs and if so, what will they cost you?
- What is the individual and family deductible?
- What is your cost share percentage? (50/50, 70/30, 80/20, 100/0?)
- What benefits, if any, can you receive before satisfying your deductible?
- What coverage Gaps does your plan have? (Almost all plans have gaps in coverage)
- Once you recognize gaps, is there a cost-effective way to close them?
- Do you need prior authorization to see a specialist?
- If you use an out of network doctor or facility, how will you be billed?
- What is their approach to Customer care? (i.e. application of technology, availability to speak with representatives, handling of complaints?)
Realizing the choice is individual, what should your choice be reflective of:
- Your Personal Health History
- Your Lifestyle now and in the past
- Occupation
- Do you use or want to use preventative benefits?
- Your age
- Your build
- Level of physical activity
- Your family’s health history
- Do you anticipate needing an elective procedure or surgery in the short term?
Considering these two lists, the challenge is finding a solution that balances cost and healthcare benefits you need.
Plan premium is a major concern. It should be. But that’s certainly not the only aspect of health insurance you should base your decision on.
Use the above lists to help objectively evaluate options. Be cautious of agents or online health insurance sellers that simply steer you to the lowest cost plan available. They typically provide minimal benefits available from a limited network of providers potentially leaving you with considerable out of pocket cost.
Contact me today, I represent several major insurance carriers that provide a wide range of plan types.
Let’s sit down and talk about your coverage options so you can make your best-informed choice.