Health insurance helps individuals manage their healthcare costs throughout the year. With so many providers and plans to choose from, getting the right coverage can seem overwhelming. Here are a few basics to keep in mind as you search for the right options.
How to Choose the Right Health Insurance for Your Needs
1. Your Health Needs
Different providers and plans offer various levels of coverage. Many providers use terms like platinum, gold, silver, and bronze to describe their options. Generally, platinum and gold plans offer more coverage, while silver and bronze may offer slightly less.
Those who visit doctors or have serious health issues may feel more comfortable with higher levels of coverage, while lower options may be sufficient for healthy individuals. You should also check to make sure any prescriptions you take or may need are covered under your chosen plan.
2. Premiums vs. Out-of-Pocket Expenses
A premium is the amount you pay for an insurance plan each month. Out-of-pocket expenses include copays and other costs that you pay for each doctor visit, hospital stay, or prescription. Generally, higher premiums come with lower out-of-pocket expenses, and vice versa. Those who prefer predictable payments may prefer higher premiums, while those hoping to save money and limit doctor visits through the year may prefer lower premiums.
3. Networks
If you have a doctor you like, make sure they’re included in the network for any insurance plan you consider. Providers must approve hospitals and doctors’ offices to provide coverage at those locations, so if yours is not included in the network of the plan you choose, you’ll either have to switch or pay more out of pocket. Many providers let you search for doctors within their network, or you can work with an agent who can ensure your doctor is included.
If you’re looking for an insurance agent to help you find the right plan for your needs, contact Harris Insurance Agency in Centerville, OH. The family-owned, independent insurance agency focuses only on Medicare, Medicaid, and health insurance, so they fully understand the options and providers available to individuals throughout the Miami Valley. To request a quote, call (937) 387-6672.
