Finding the right health insurance plan for you can be stressful and confusing, especially if you’re just starting your independent adult life. What does health insurance cover? What’s the difference between HMOs and PPOs? How do you know if your new plan offers good customer service? Fortunately, these seven tips will help you choose the best possible health insurance plan.
Shopping for health insurance today is easier than ever.
In 2014, nearly every American will have to buy health insurance or pay a penalty. The Affordable Care Act has made buying health insurance easier than ever. That’s why it’s important to explore your options before making a decision. The best way to know if an insurance plan is right for you is to check costs and benefits.
How much money do I need?
Before you start shopping for health insurance plans, it’s good to know how much coverage you need. To do this, make a list of everything that costs money in your life: housing, food, transportation (do you have a car?), leisure activities, utilities, etc. Next, take all these figures and add them up; that’s your total monthly expense, or RME.
How much will my diet cost?
As with any major purchase, cost is an important factor when choosing health insurance. The good news is that, according to Healthcare.gov, in 2017, people who don’t have employer-based insurance can choose from 14 different plans with four different levels of coverage. Before choosing the one that’s right for you, it’s important to consider the type of care you’re likely to need and what your plan could cost you over time, both in premiums and in eligible costs.
Who can help me understand my options?
It’s one thing to compare premiums, deductibles and copayments yourself. It’s another thing to look at them in the context of your personal finances. Many people don’t know what they can afford.
Should I buy individual or family insurance?
To find a good health insurance plan, you have to tailor the coverage to your needs. If you are single or have no children, cheap health insurance for singles may be what you need. On the other hand, if you have a family, it may make more sense to get cheap family health insurance. These plans can cover up to five people without breaking your budget.
What are the basic questions you should ask yourself before buying health insurance?
The most important thing to do is to talk to your insurance agent. Many factors come into play when deciding which health insurance plan is best for you. While price and coverage are important, there are other factors that are not as obvious: are there hospitals in your area that participate in your plan? Will you be covered out-of-network or is everything covered in-network? Will you have to pay deductibles before your insurance kicks in?
