What should I consider when selecting a health insurance plan or company?
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Asked February 3, 2012
Health insurance can be a difficult purchase. There are several types of group health plans, plus another couple of private insurance options. You also need to know what your out of pocket costs will be if you go to a doctor, and whether or not you will be allowed to continue your seeing doctor. Do not let the questions you have about health insurance intimidate you, because health insurance is not that hard to understand.
In addition to paying your health insurance premiums, you will probably have copays each time you seek medical care. Copays are the portion of the medical bill that you are required to pay out of pocket. Copays must be paid each time, unlike deductibles that only have to be met once. Because of that, it is important to shop around for health insurance with affordable copays.
Most health insurance plans have networks of physicians and care givers. If you already have a family doctor, find out which network he or she belongs to, and try to get your coverage through that company. If that is not possible, talk to your family doctor and ask if they would be willing to join the network of your health insurance company. Failing both of those options, it will cost you out of pocket whenever you see your family physician because you will have to pay the difference in cost between what the doctor charges and what your health plan will pay.
You should also look into whether your health insurance will pay for prescriptions and medical supplies. Some plans will, but others only pay a portion of the cost, or none at all. The good news is that even if your health plan does not include prescriptions, you can purchase supplemental coverage for only a small monthly fee that will completely pay for them.
Answered February 3, 2012 by Anonymous