Shopping for health care is somewhat like going to CUBS and standing in the bread isle, knowing that you need bread but don’t know which loaf to by.
You kind of have an idea of what the bread is going to be used for, so you start looking at price, only to find out that some bread is full of stuff you don’t want to eat and prices vary.
Shopping for health care is kind of the same thing. So, knowing a few basics will have a big impact on what you spend and what you get.
When shopping for insurance it’s a good idea to understand some basics.
1) How much financial protection will you get (coverage level, deductible)
2) Where will you receive care (is your doctor, clinic or hospital, and pharmacy in-network)
3) How will you pay for the cost of your care (what are the co-pays or shared cost)
4) What are additional costs (what are the in-network and out-of-network co-pays)
5) Will you be able to get your medications (are your medication covered and what are the co-pays)
It pays to consider your health care needs, your financial resources and your comfort with risk and volatility. Focus on these items, then look at price.
There are a lot of numbers to calculate when shopping for insurance.
A basic rule to follow is that the lower the premium the higher the deductible and sometimes fewer benefits or network restrictions.
In some cases, you can compare several plans from one provider and the premium is just a few dollars difference.
Those few dollars can make a big difference in what you get, what you can use and how much you will pay out-of-pocket. Consider all costs; premium, deductible, copays, coinsurance and out-of-pocket maximums.
My advice is to contact me for a one-on-one consolation, I can review what options you have in selecting the right health plan.