Health insurance
can be costly, but it's necessary for most people. If your job doesn't offer health benefits or you are self-employed, purchasing health insurance on your own may be your only option. Comparing health insurance plans can be time-consuming and difficult as you weigh all of your choices, but knowing what to look for can make the process a little easier.
Plan Types
Health insurance plans are not all created equal. Different types of plans have benefits and disadvantages that you should consider carefully when deciding which plan is best for you. HMO (health maintenance organization) plans typically involve a network of participating doctors and health care facilities that you're limited to. You choose a primary care physician and must get a referral from that doctor to see a specialist in most cases. Other health insurance plans allow you to freely choose which doctors and specialists you visit.
Coverage
Where you can seek treatment, and what treatments and medications are covered, is very important to know when buying health insurance. Some insurance plans allow patients to see doctors only within a limited geographic area, unless there are special circumstances involved. Other plans may require you to disclose information about your prior medical history and lifestyle habits, such as whether you smoke, before they will determine your eligibility and coverage. Health insurance companies offer many different services, and many plans do not include coverage for certain things, such as maternity care.
People shopping for health insurance should decide what types of treatment and drugs they most want to have covered and review only those plans that provide this coverage. Many plans also have yearly and/or lifetime limits on certain types of treatment, so potential buyers should review these limits as well. Studying all of the information provided by a company before purchasing a health insurance plan is extremely important so you know exactly what is and what is not covered.
Costs
The cost of a health plan is a major concern for many people when shopping for insurance. The premium is the fee paid for simply having the insurance and is usually a monthly payment. Many health insurance plans also have deductibles, which is the amount of money a patient must spend out of pocket before reimbursement begins. Some plans have exceptions to the deductible. For instance, a deductible may apply for hospitalization but not apply to a certain number of routine physician visits per year.
Co-payments are an integral part of many health insurance plans as well. Patients may pay a flat fee for doctor's visits or prescription drugs, and the health insurance company covers the rest of the cost. Plans usually vary in cost if you are adding a spouse or children, so make sure you fully understand what you will be paying for.
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