Choosing the best health plans can be a confusing experience these days. There is a plethora of quality health plans available for just about every set of circumstances and budget. The key to determining which plan is best for you and your family is to know the various parameters of insurance plans and understand how those parameters apply to your set of circumstances.
There are three primary factors to consider when selecting a health insurance plan:
1. What is the total out of pocket cost per year going to be? This includes a combination of the monthly premiums, doctor visit co-pays, hospital visit co-pays, prescription drug costs, and last but not least, the annual deductible.
2. Which doctors and hospitals are accessible through the plan? Some plans require that you see only doctors in that plan’s network (except for emergencies); other plans allow you to visit any doctor you choose, however, the co-pays on this type of plan are generally higher.
3. What is the reputation of the health plan based on user feedback? This includes the quality of care provided at in-network facilities and also the efficiency of the payment system (you don’t want to be getting bills for incurred costs that should be covered by your insurance).
The most efficient way to compare health plans directly is by utilizing an online comparative service.
The topic of health insurance is probably not a topic that comes up very often for the majority of the adult population who are employed by companies that provide benefits. It becomes a very important and urgent topic if you lose your job and have only a few weeks to decide whether to continue your insurance through your employer (COBRA) or to seek less expensive coverage on your own.
With the economy being as bad as it is, there are many people making a go starting their own businesses as well. There are numerous high quality health insurance programs available for self-employed persons and small businesses alike.
One thing is for certain: all health plans are not created equal, and the quality of your health plan can have a huge impact on the quality of your life; so choose wisely.