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What is the best health insurance?
Let’s face it, health insurance is a confusing topic. No one seems to understand it, but many people see the value in having it.
What is the best health insurance to have and what features of a health insurance plan are most important? Very common questions, and as an insurance agent I come across these types of questions quite often.
When looking for a quote for health insurance, whether for a group or just for you as an individual, it’s always a good idea to take note of the key components of the plan. Be careful not to fall victim to the pricing scheme and only consider the monthly cost of the plan, because there are many other factors that could end up costing you a lot of money in the future if you don’t have a good insurance plan.
So let’s take a look at the top 5 things to consider when shopping for health insurance.
1. Deductibles
Deductibles seems like a scary word to those who don’t understand it, but it really comes down to what you have to pay the insurance company before they start contributing to your health insurance expenses. Be careful not to choose a plan simply because it has a lower premium if the deductible is extremely high.
For exampleyou buy a policy with a low monthly premium, but the deductible is $8,000 a year, if for some reason reason you get a doctor’s bill for less than that, you’ll be responsible for the entire bill, even though you’ve already been paying the monthly premiums to the insurance company.
Low deductible health plans are much more desirable and will be insurance you can actually use, which is really why we get insurance in the first place, right?
If you’re really looking for an individual health insurance quote with low deductibles for catastrophic incidents and $0 deductibles for simple routine and outpatient visits (which is great!) Click here for a quote and I’ll personally find the best coverage for you. you and your family.
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2. Out-of-pocket maximum
Out-of-pocket spending on a health insurance plan is another extremely important factor to consider when shopping for a health insurance plan. What does out-of-pocket maximum mean? It relates to what you, as a patient, will generally be responsible for paying in any given year.
If you buy a plan that has a total out-of-pocket cost of $12,000, that means that no matter what happens or how much money in claims you end up taking, you’ll be responsible for $12,000.
That sounds like a lot of money, right? That’s why it’s important to consider a health insurance plan that has minimal out-of-pocket costs in case something catastrophic happens and you end up having to make full use of that plan.
One really cool feature of this individual health plan is that it’s a life insurance benefit in life and AD&D coverage built right into the plan that ends up covering a lot of the deductible and contributing to out-of-pocket costs. All of which are built right into the plan and are already included in the monthly premium.
Learn more about this plan here!
3. Provider Network
Most people have heard the terms PPO and HMO, but don’t really know what they mean. It is very important that while shopping for health insurance that you choose one that will benefit you the most and in most cases it will be a PPO.
What is HMO insurance?
HMOs are very limited in what providers you can and cannot see, and are also good for only local doctors and hospitals. If you end up traveling outside of your given network area, you won’t have any coverage… which means your insurance is worthless.
You should also understand that although you can find a hospital that is in your HMO’s network, some of the doctors, anesthesiologists, gynecologists, etc. they may not be part of your network and without you knowing this information they will provide you with care but then your bill will reflect it.
What is PPO insurance?
PPO insurance, on the other hand, is insurance that can be used at any doctor or hospital, regardless of whether they are in-network or out-of-network. Finding an insurance plan that has a nationwide PPO is ideal, as it will be your best option when visiting any doctor or hospital.
PPO insurance is also great because you don’t need referrals to see a specialist. If you wake up one day with a skin lesion and know you need to be seen and treated by a dermatologist, instead of having to spend time and money to see a primary care doctor first for a referral, you can go straight to the dermatologist of your choice.
GET A QUOTE HERE FOR THE BEST PPO HEALTH COVERAGE PLAN
4. Find a plan that fits your current needs
Everyone’s needs are different, so one insurance plan won’t be right for everyone. Be sure to choose a plan that can be customized to meet your specific needs and that works for you and your family.
Budget is of course a very important factor, you have to be able to pay your monthly premium to keep the plan going, but you also have to make sure you’re not paying for things you don’t necessarily want or need. or excluding things that are of value to you.
An example would be a plan that includes built-in life insurance benefits. If you don’t currently have life insurance, this might be a good option to include in your plan; however, if you already have a good life insurance policy that fully covers you, you may want to opt out of this inclusion.
Another example would be if you are self-employed or own your own small business, it is important to consider workers’ compensation benefits. Plans with job protection are available in the individual private market and can sometimes be a spice of life for the self-insured. You can check out these plans with built-in income protectors and benefits similar to workers’ compensation HERE.
5. Find an agent you can trust
The market is saturated with insurance agents and brokers trying to win your business, but be careful you are only working with someone who genuinely cares and has your best interest at heart.
As a licensed agent, I find it most satisfying when I can help someone navigate this confusing thing called health insurance coverage and get them in the best position, regardless of whether it’s a product I have access to or not.
I work closely with experts in the field of health insurance to ensure that each client I represent receives the best plans and most affordable options to fit their specific needs. What I do is save people money for better and more comprehensive health coverage, so request a free quote today or even if you just have questions about your current coverage, I’m here to help!
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