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Health Insurance Basics: How Do I Choose the Right Plan?

shopping for health insurance is a big

decision but asking the right questions

can make it a lot easier when it comes

to health coverage everyone has

different needs and preferences

understanding the features of a health

plan can help you pick the right match

for you let's start with the kind of

plan you want is it important for you to

see doctors out of network or without

referrals if so you may want to look

into PPO plans if it's not a top

priority then you may want an HMO you'll

pick a primary care physician to

coordinate your care and get a network

of providers to choose from trying to

save money opt for a plan with a higher

deductible that can be used with a

health savings account to save tax-free

dollars for qualified medical expenses

or look for a land with a tiered Network

you'll save when you visit certain

doctors and hospitals this works best if

your providers are already in the lowest

cost tier or if you don't mind switching

once you figure out a plan type you're

halfway there now you just have to

figure out the best balance of cost and

coverage there are two main types of

cost premium and out-of-pocket your

premium is the monthly fee you pay to

become a member of a health insurance

plan when you need health care your

health insurer will pay a portion of

your covered healthcare costs and you'll

pay the rest

that's the out-of-pocket cost this is

where the balance comes in think about

it this way you pay your premium

regardless of whether you use any

service but you only pay your

out-of-pocket costs when you receive

care so if you see a lot of doctors

check the plans out-of-pocket costs and

make sure it's an amount you're

comfortable with if not consider a plan

with a higher premium so that the

insurer covers a higher portion of the

services you're likely to use find out

if your plan has a deductible this is a

dollar amount you have to pay for

services before your insurer starts to

pay a portion of the costs

if you reach your deductible and still

need more care you and your health

insurer will share cost until you reach

your out-of-pocket maximum

if you reach your out-of-pocket maximum

then your health insurer will pay for

all of your covered services for the

remainder of the plan year also look

into what services apply towards the

deductible and whether it covers both

medical benefits and prescription drugs

most health insurance plans include

prescription drug coverage so if you use

a lot of medications make sure those

drugs are covered also check if the

pharmacy you use is in-network

and whether the plan has any special

provisions like a mandatory generic

program and if you need specialty

pharmacy drugs look into how your plan

covers them don't forget you can save on

prescription drugs by taking advantage

of generic drugs and mail order service

questions about making your health

insurance decision we can help we have

licensed agents who are always happy to

help you find the best plan for you call

1 888 4 7 5 6 2 0 6 or visit IV XCOM for

more information

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