Which health insurance plan will fit your needs? From finances to pre-existing conditions, you have questions about the cost, availability, and coverage insurance plans provide. If you're not sure which plan to choose, take a look at the top questions to ask right now.

Is Cost the Main Factor In the Decision-Making Process?

The answer to this question depends on your personal preferences. Some people put a greater emphasis on the upfront costs of insurance. If you're on a tight budget, you might only think about the monthly premium payments. But this could end up costing you more money over time or in the event of a serious illness/injury. Before you choose a plan based on the premium alone, consider:

  • The deductible. Low premium plans often come with higher deductibles. This is the cost you'll pay out-of-pocket before the insurance takes over. A hospital stay, major injury, chronic condition, or series of illnesses could cost thousands of dollars in deductibles.

  • The copays. These are the payments you're responsible for every time you see a doctor. Copays can add up over time for patients with persistent problems or chronic illnesses. 

  • The covered services. Will you need medical services that the plan doesn't cover? Even though a low-premium plan may cost you less each month, you could end up paying more for the costs of uncovered healthcare services or equipment.

Along with these factors, review which doctors, hospitals, and medical facilities are in-network for the plan. Out-of-network providers typically cost more to use. This can add to the overall price tag of your health care and make a low or lower premium plan more expensive to use. 

Should You Use An Insurance Broker To Find A Plan?

A health insurance broker is a state-licensed professional who helps consumers to choose the right coverage for their needs. These professionals understand the insurance industry, know the lingo, and can research plans to fit many different types of needs. You may want to use a broker if this is your first experience buying an insurance plan. The broker can guide you through this process and help you to learn more about insurance coverage options.

You may also want to use a broker to shop for the best plan at the best price. A broker knows the available plans in the area and can help you to find the best match for your healthcare-related and financial needs. 

Contact a local health insurance broker for more information. 

Share